ICA File Number: 811-10385 Reporting Period: 07/01/2003 - 06/30/2004 Pacific Funds FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-10385 PACIFIC FUNDS - -------------------------------------------------------------------------------- (Exact name of registrant as specified in charter) 700 NEWPORT CENTER DR., NEWPORT BEACH, CA 92660 - -------------------------------------------------------------------------------- (Address of principal executive offices) Robin S. Yonis Vice President and Investment Counsel of Pacific Life Insurance Company 700 Newport Center Drive Post Office Box 9000 NEWPORT BEACH, CA 92660 - -------------------------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (949) 219-6767 Date of fiscal year end: 3/31 Date of reporting period: 7/1/03 to 6/30/04 SIGNATURES Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Pacific Funds By: ------------------------ Glenn S. Schafer* Title: President, Pacific Funds *By: /s/ ROBIN S. YONIS - ------------------------- Robin S. Yonis, as attorney-in-fact pursuant to power of attorney previously filed. Date: August 31, 2004 Page 1 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PORTFOLIO OPTIMIZATION MODEL A The registrant did not hold any portfolio securities with respect to which the registrant was entitled to vote during the period from July 1, 2003 through June 30, 2004. VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PORTFOLIO OPTIMIZATION MODEL B The registrant did not hold any portfolio securities with respect to which the registrant was entitled to vote during the period from July 1, 2003 through June 30, 2004. VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PORTFOLIO OPTIMIZATION MODEL C The registrant did not hold any portfolio securities with respect to which the registrant was entitled to vote during the period from July 1, 2003 through June 30, 2004. VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PORTFOLIO OPTIMIZATION MODEL D The registrant did not hold any portfolio securities with respect to which the registrant was entitled to vote during the period from July 1, 2003 through June 30, 2004. VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PORTFOLIO OPTIMIZATION MODEL E The registrant did not hold any portfolio securities with respect to which the registrant was entitled to vote during the period from July 1, 2003 through June 30, 2004. VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/11/04 - A 3M CO *MMM* 88579Y101 03/12/04 1,500 1 Elect Directors For Split Mgmt 1.1 Elect Director Edward A. Brennan --- Withhold 1.2 Elect Director Michael L. Eskew --- For 1.3 Elect Director W. James McNerney, Jr. --- Withhold 1.4 Elect Director Kevin W. Sharer --- Withhold 2 Ratify Auditors For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Separate Chairman and CEO Positions Against Against ShrHoldr 01/22/04 - A AIR PRODUCTS & CHEMICALS, INC. *APD* 009158106 11/28/03 1,200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/30/04 - A ALCOA INC. *AA* 013817101 02/02/04 4,000 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Report on Pay Disparity Against Against ShrHoldr 4 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 04/28/04 - A ALLERGAN, INC. *AGN* 018490102 03/08/04 2,100 1 Elect Directors For Split Mgmt 1.1 Elect Director Handel E. Evans --- For 1.2 Elect Director Michael R. Gallagher --- For 1.3 Elect Director Gavin S. Herbert --- Withhold 1.4 Elect Director Stephen J. Ryan --- For 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against Against ShrHoldr 4 Separate Chairman and CEO Positions Against Against ShrHoldr 04/26/04 - A AMERICAN EXPRESS CO. *AXP* 025816109 02/27/04 6,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Establish Term Limits for Directors Against Against ShrHoldr 4 Report on Political Against Against ShrHoldr Contributions/Activities - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 1 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/19/04 - A AMERICAN INTERNATIONAL GROUP, INC. 026874107 03/26/04 7,600 *AIG* 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus For For Mgmt Plan 3 Approve Non-Employee Director Stock For For Mgmt Option Plan 4 Ratify Auditors For For Mgmt 5 Report on Political Against Against ShrHoldr Contributions/Activities 6 Divest from Tobacco Equities Against Abstain ShrHoldr 7 Link Executive Compensation to Against Against ShrHoldr Predatory Lending 05/13/04 - A AMGEN, INC. *AMGN* 031162100 03/19/04 5,500 1 Elect Directors For Split Mgmt 1.1 Elect Director Frank J. Biondi, Jr. --- For 1.2 Elect Director Jerry D. Choate --- Withhold 1.3 Elect Director Frank C. Herringer --- For 1.4 Elect Director Gilbert S. Omenn --- For 2 Ratify Auditors For For Mgmt 3 Prepare Glass Ceiling Report Against Abstain ShrHoldr 4 Expense Stock Options Against Against ShrHoldr 03/09/04 - A ANALOG DEVICES, INC. *ADI* 032654105 01/16/04 4,000 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Ratify Auditors For For Mgmt 04/28/04 - A ANHEUSER-BUSCH COMPANIES, INC. *BUD* 035229103 03/01/04 2,100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 03/24/04 - A APPLIED MATERIALS, INC. *AMAT* 038222105 01/30/04 8,600 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 05/06/04 - A AVON PRODUCTS, INC. *AVP* 054303102 03/15/04 1,700 1 Elect Directors For Split Mgmt 1.1 Elect Director Edward T. Fogarty --- For 1.2 Elect Director Susan J. Kropf --- For 1.3 Elect Director Maria Elena Lagomasino - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 2 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ --- Withhold 2 Ratify Auditors For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Declassify the Board of Directors Against For ShrHoldr 5 Report on Feasibility of Removing Against Abstain ShrHoldr Parabens from Company Products 6 Report on Feasibility of Removing Against Abstain ShrHoldr Dibutyl Phthalate from Company Products 03/17/04 - S BANK OF AMERICA CORP. *BAC* 060505104 01/26/04 1,900 1 Approve Merger Agreement For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Adjourn Meeting For Against Mgmt 05/26/04 - A BANK OF AMERICA CORP. *BAC* 060505104 04/07/04 2,300 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Change Date of Annual Meeting Against Against ShrHoldr 4 Adopt Nomination Procedures for the Against Against ShrHoldr Board 5 Charitable Contributions Against Against ShrHoldr 6 Establish Independent Committee to Against Against ShrHoldr Review Mutual Fund Policy 7 Adopt Standards Regarding Privacy Against Against ShrHoldr and Information Security 06/24/04 - A BEST BUY CO., INC. *BBY* 086516101 04/26/04 3,700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 10/06/03 - S BOSTON SCIENTIFIC CORP. *BSX* 101137107 08/27/03 2,800 1 Increase Authorized Common Stock For For Mgmt 05/11/04 - A BOSTON SCIENTIFIC CORP. *BSX* 101137107 03/19/04 8,700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 3 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/22/04 - A CANADIAN NATIONAL RAILWAY CO. *CNR.* 136375102 03/15/04 3,150 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/22/04 - A CARNIVAL CORP. *CCL* 143658300 02/23/04 2,840 MEETING FOR HOLDERS OF ADRS 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 TO AUTHORIZE THE AUDIT For For Mgmt COMMITTEE OF CARNIVAL PLC TO AGREE THE REMUNERATION OF THE INDEPENDENT AUDITORS. 4 TO RECEIVE THE ACCOUNTS AND For For Mgmt REPORTS FOR CARNIVAL PLC FOR THE FINANCIAL PERIOD ENDED NOVEMBER 30, 2003. 5 TO APPROVE THE DIRECTORS For For Mgmt REMUNERATION REPORT OF CARNIVAL PLC. 6 TO APPROVE LIMITS ON THE For For Mgmt AUTHORITY TO ALLOT SHARES BY CARNIVAL PLC. 7 TO APPROVE THE DISAPPLICATION For For Mgmt OF PRE-EMPTION RIGHTS FOR CARNIVAL PLC SHARES. 11/11/03 - A CISCO SYSTEMS, INC. *CSCO* 17275R102 09/12/03 19,000 1 Elect Directors For For Mgmt 1.1 Elect Director Carol A. Bartz --- For WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director Larry R. Carter --- For 1.3 Elect Director John T. Chambers --- For 1.4 Elect Director Dr. James F. Gibbons --- For 1.5 Elect Director Dr. John L. Hennessy --- For 1.6 Elect Director Roderick C. McGeary --- For 1.7 Elect Director James C. Morgan --- For 1.8 Elect Director John P. Morgridge --- For 1.9 Elect Director Donald T. Valentine --- For 1.10 Elect Director Steven M. West --- For 1.11 Elect Director Jerry Yang --- For 2 Amend Employee Stock Purchase Plan For For Mgmt ISS APPROVES OF THIS ITEM BECAUSE THE PLAN COMPLIES - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 4 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ WITH SECTION 423 OF THE INTERNAL REVENUE CODE, THE NUMBER OF SHARES BEING ADDED IS RELATIVELY CONSERVATIVE, THE OFFERING PERIOD IS REASONABLE, AND THERE ARE LIMITATIONS ON PARTICIPATION. 3 Ratify Auditors For For Mgmt SHAREHOLDER PROPOSALS 4 Report on Company Products Used by the Against Against ShrHoldr Government to Monitor the Internet ISS GENERALLY SUPPORTS PROPOSALS THAT SEEK TO PROVIDE SHAREHOLDERS WITH GREATER DISCLOSURE REGARDING THE RISKS ASSOCIATED WITH THEIR INVESTMENT. IN THIS CASE, WE BELIEVE THAT GENERATING SUCH A REPORT COULD BE TIME CONSUMING AND COSTLY TO THE COMPANY WITHOUT PROVIDING SIGNIFICANT VALUE TO SHAREHOLDERS. THE PRODUCTS PROVIDED BY THE COMPANY ARE SIMILAR TO THOSE PROVIDED BY PEERS AND COMPETITORS IN THE TECHNOLOGY INDUSTRY. AS SUCH, REQUIRING DISCLOSURE THAT MAY CAUSE THE COMPANY TO BREAK CONTRACTUAL OBLIGATIONS OR REQUIRE BURDENSOME RESEARCH ON BEHALF OF THIRD PARTY RESELLERS COULD PLACE THE COMPANY AT A COMPETITIVE DISADVANTAGE AND MAY NEGATIVELY AFFECT SHAREHOLDER VALUE. SINCE THE PROPOSED RESOLUTION MAY RESULT IN SUBSTANTIAL COSTS AND TIME EXPENDITURES TO THE COMPANY AND MAY NOT PROVIDE USEFUL INFORMATION TO SHAREHOLDERS, WE DO NOT SUPPORT THIS PROPOSAL. 5 Report on Pay Disparity Against Against ShrHoldr WHEN REVIEWING REQUESTS FOR REPORTS ON EXECUTIVE COMPENSATION, ISS TAKES INTO CONSIDERATION THE SCOPE OF THE REQUESTED REPORT, THE COMPANY'S INTERNAL PROCEDURES FOR DETERMINING COMPENSATION, AND THE COMPANY'S HISTORICAL COMPENSATION PRACTICES. AS WITH ALL REPORT REQUESTS, ISS CAREFULLY WEIGHS THE POTENTIAL USEFULNESS OF THE REQUESTED REPORT AGAINST THE COSTS OF PREPARATION AND WHETHER THE REPORT WOULD BE DUPLICATIVE OF EXISTING DISCLOSURE. IN THE CASE OF THIS PROPOSAL, WE NOTE THAT THE PROPONENTS ARE SPECIFICALLY ASKING FOR A COMPARISON OF THE COMPENSATION OF THE COMPANY'S TOP EXECUTIVES WITH THAT OF ITS LOWEST COMPENSATED WORKERS ON A WORLDWIDE BASIS AND A REPORT ON ANY RECOMMENDATIONS REGARDING CHANGING THE CURRENT LEVEL OF EXECUTIVE PAY. THOUGH THE DISPARITY BETWEEN THE PAY LEVELS OF ENTRY-LEVEL AND EXECUTIVE EMPLOYEES HAS UNDOUBTEDLY GROWN AT MANY U.S. COMPANIES OVER THE PAST FEW DECADES, WE NOTE THAT IT IS UNLIKELY THAT THE REQUESTED REPORT WOULD PRODUCE A MEANINGFUL GAUGE FOR SHAREHOLDERS OF WHETHER THE COMPANY'S COMPENSATION POLICIES AND PAY LEVELS ARE APPROPRIATE AND EFFECTIVE FOR EMPLOYEES AT THE SENIOR EXECUTIVE LEVEL. WHILE WE - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 5 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ UNDERSTAND THE PROPONENTS' CONCERNS WITH ESCALATING CEO PAY, WE NOTE THAT THE COMPENSATION AND MANAGEMENT DEVELOPMENT COMMITTEE IS COMPOSED ENTIRELY OF INDEPENDENT DIRECTORS. BASED ON OUR CONCERNS REGARDING THE SCOPE OF THE PROPOSAL, THE INDEPENDENCE OF THE COMPANY'S COMPENSATION COMMITTEE, WE DO NOT BELIEVE THAT PREPARATION OF THE REQUESTED REPORT WOULD YIELD MEANINGFUL INFORMATION TO SHAREHOLDERS REGARDING THE EFFICACY OF THE COMPANY'S EXECUTIVE COMPENSATION POLICIES AND PRACTICES. 04/20/04 - A CITIGROUP INC. *C* 172967101 02/27/04 16,100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Limit Executive Compensation Against Against ShrHoldr 4 Report on Political Against Against ShrHoldr Contributions/Activities 5 Prohibit Awards to Executives Against Against ShrHoldr 6 Separate Chairman and CEO Positions Against Against ShrHoldr 04/28/04 - A CLEAR CHANNEL COMMUNICATIONS, INC. 184502102 03/08/04 2,700 *CCU* 1 Elect Directors For Split Mgmt 1.1 Elect Director Alan D. Feld --- Withhold 1.2 Elect Director Thomas O. Hicks --- For 1.3 Elect Director Perry J. Lewis --- For 1.4 Elect Director L. Lowry Mays --- For 1.5 Elect Director Mark P. Mays --- For 1.6 Elect Director Randall T. Mays --- For 1.7 Elect Director B.J. Mccombs --- For 1.8 Elect Director Phyllis B. Riggins --- For 1.9 Elect Director Theordore H. Strauss --- For 1.10 Elect Director J.C. Watts --- For 1.11 Elect Director John H. Williams --- For 2 Ratify Auditors For For Mgmt 05/07/04 - A COLGATE-PALMOLIVE CO. *CL* 194162103 03/09/04 2,900 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 6 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 5 Adopt ILO Based Code of Conduct Against Abstain ShrHoldr 6 Separate Chairman and CEO Positions Against Against ShrHoldr 05/04/04 - A DANAHER CORP. *DHR* 235851102 03/10/04 2,000 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Stock Option Plan For For Mgmt 4 Develop Charter Language on Board Against Against ShrHoldr Diversity 07/18/03 - A DELL INC. *DELL* 247025109 05/23/03 6,100 1 Elect Directors For For Mgmt 1.1 Elect Director Michael A. Miles --- For WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director Alex J. Mandl --- For 1.3 Elect Director Morton L. Topfer --- For 2 Declassify the Board of Directors For For Mgmt ISS COMMENDS MANAGEMENT FOR SUBMITTING THIS PROPOSAL, WHICH DEMONSTRATES A COMMITMENT TO SHAREHOLDERS' INTERESTS. 3 Change Company Name For For Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt THE PERFORMANCE MEASURES INCLUDED UNDER THE PLAN ARE APPROPRIATE FOR THE COMPANY GIVEN ITS LINE OF BUSINESS, LONG-TERM STRATEGIC OBJECTIVES, AND INDUSTRY-SPECIFIC MEASURES FOR ASSESSING MARKET COMPETITIVENESS. ADDITIONALLY, THE PLAN IS ADMINISTERED BY A COMMITTEE OF INDEPENDENT OUTSIDERS WHO MUST CERTIFY ATTAINMENT OF THESE OBJECTIVE, MEASURABLE PERFORMANCE GOALS BEFORE CASH AWARDS ARE PAID TO PARTICIPANTS. MOREOVER, PRESERVATION OF THE FULL DEDUCTIBILITY OF ALL COMPENSATION PAID REDUCES THE COMPANY'S CORPORATE TAX OBLIGATION. 04/23/04 - A DOMINION RESOURCES, INC. *D* 25746U109 02/27/04 1,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Submit Executive Compensation to Vote Against Against ShrHoldr - ------------------------------------------------------------ Mgmt Rec - Company Management Recommended Vote Page 7 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/28/04 - A E.I. DU PONT DE NEMOURS & CO. *DD* 263534109 03/09/04 1,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Executive Ties to Government Against Against ShrHoldr 4 Adopt and Report on a Code of Corporate Against Abstain ShrHoldr Conduct 5 Limit Executive Compensation Against Against ShrHoldr 06/24/04 - A EBAY INC. *EBAY* 278642103 04/26/04 1,850 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Amend Stock Option Plan For For Mgmt 4 Increase Authorized Common Stock For For Mgmt 5 Ratify Auditors For For Mgmt 6 Expense Stock Options Against Against ShrHoldr 05/05/04 - A EMC CORP. *EMC* 268648102 03/08/04 16,800 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Ratify Auditors For For Mgmt 5 Limit Executive Compensation Against Against ShrHoldr 05/11/04 - A ENSCO INTERNATIONAL, INC. *ESV* 26874Q100 03/15/04 4,200 1 Elect Directors For For Mgmt 05/26/04 - A EXXON MOBIL CORP. *XOM* 30231G102 04/05/04 14,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Non-Employee Director Restricted For For Mgmt Stock Plan 4 Affirm Political Nonpartisanship Against Against ShrHoldr 5 Report on Political Contributions/Activities Against Against ShrHoldr 6 Report on Equatorial Guinea Against Abstain ShrHoldr 7 Separate Chairman and CEO Positions Against Against ShrHoldr 8 Prohibit Awards to Executives Against Against ShrHoldr 9 Report on Stock Option Distribution by Race Against Abstain ShrHoldr and Gender 10 Amend EEO Statement to Include Reference to Against Abstain ShrHoldr Sexual Orientation 11 Report on Climate Change Research Against Abstain ShrHoldr - ------------------------------------------------------------ Mgmt Rec - Company Management Recommended Vote Page 8 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/25/04 - A FANNIE MAE *FNM* 313586109 04/06/04 3,750 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Provide for Cumulative Voting Against For ShrHoldr 03/23/04 - A FIFTH THIRD BANCORP *FITB* 316773100 01/30/04 1,900 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Adopt Sexual Orientation Non-Discrimination None For ShrHoldr Policy 10/28/03 - S FIRST DATA CORP. *FDC* 319963104 09/08/03 3,800 1 Approve Merger Agreement For For Mgmt CONCLUSION: THE DEAL HAS A STRONG STRATEGIC RATIONALE: THE COMBINED COMPANY WOULD HAVE A DOMINANT POSITION IN THE DEBIT CARD MARKET AND IS EXPECTED TO GENERATE ANNUAL SYNERGIES OF $230 MILLION BY 2005. THE PREMIUM PAID FOR CONCORD IS STILL BELOW CONCORD'S VALUATION WITH SYNERGIES ACCORDING TO THE ADVISORS' OPINION AND THE DEAL IS EXPECTED TO BE ACCRETIVE IN 2005. WE RECOMMEND IN FAVOR OF THE TRANSACTION. 05/19/04 - A FIRST DATA CORP. *FDC* 319963104 03/22/04 6,100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/06/04 - A FISERV, INC. *FISV* 337738108 02/13/04 3,500 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 08/11/03 - A FOREST LABORATORIES, INC. *FRX* 345838106 06/20/03 2,200 1 Elect Directors For Split Mgmt 1.1 Elect Director Howard Solomon --- Withhold WE RECOMMEND A VOTE FOR THE DIRECTORS WITH THE EXCEPTIONS OF PHILLIP M. SATOW, KENNETH E. GOODMAN, AND HOWARD SOLOMON. WE RECOMMEND THAT SHAREHOLDERS WITHHOLD VOTES FROM PHILLIP M. SATOW FOR STANDING AS AN AFFILIATED OUTSIDER ON THE AUDIT COMMITTEE AND PHILLIP M. SATOW, KENNETH E. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 9 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ GOODMAN, AND HOWARD SOLOMON FOR FAILURE TO ESTABLISH AN INDEPENDENT NOMINATING COMMITTEE. 1.2 Elect Director William J. Candee, III --- For 1.3 Elect Director George S. Cohan --- For 1.4 Elect Director Dan L. Goldwasser --- For 1.5 Elect Director Lester B. Salans, M.D. --- For 1.6 Elect Director Kenneth E. Goodman --- Withhold 1.7 Elect Director Phillip M. Satow --- Withhold 2 Increase Authorized Common Stock For Against Mgmt 3 Ratify Auditors For For Mgmt 04/27/04 - A FORTUNE BRANDS, INC. *FO* 349631101 02/27/04 1,550 1 Elect Directors For Withhold Mgmt 2 Ratify Auditors For For Mgmt 3 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 05/21/04 - A FPL GROUP, INC. *FPL* 302571104 03/16/04 1,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt 5 Approve Executive Incentive Bonus Plan For For Mgmt 6 Increase Authorized Common Stock For For Mgmt 01/29/04 - A FRANKLIN RESOURCES, INC. *BEN* 354613101 12/01/03 1,100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 04/28/04 - A GENERAL ELECTRIC CO. *GE* 369604103 03/01/04 18,100 1 Elect Directors For Split Mgmt 1.1 Elect Director James I. Cash, Jr. --- For 1.2 Elect Director Dennis D. Dammerman --- For 1.3 Elect Director Ann M. Fudge --- For - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 10 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.4 Elect Director Claudio X. Gonzalez --- Withhold 1.5 Elect Director Jeffrey R. Immelt --- For 1.6 Elect Director Andrea Jung --- For 1.7 Elect Director Alan G. Lafley --- For 1.8 Elect Director Kenneth G. Langone --- For 1.9 Elect Director Ralph S. Larsen --- For 1.10 Elect Director Rochelle B. Lazarus --- For 1.11 Elect Director Sam Nunn --- For 1.12 Elect Director Roger S. Penske --- For 1.13 Elect Director Robert J. Swieringa --- For 1.14 Elect Director Douglas A. Warner III --- For 1.15 Elect Director Robert C. Wright --- For 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Provide for Cumulative Voting Against Against ShrHoldr 5 Eliminate Animal Testing Against Against ShrHoldr 6 Report on Nuclear Fuel Storage Risks Against Against ShrHoldr 7 Report on PCB Clean-up Against Abstain ShrHoldr 8 Report on Foreign Outsourcing Against Against ShrHoldr 9 Prepare Sustainability Report Against Against ShrHoldr 10 Limit Composition of Management Development Against Against ShrHoldr and Compensation Committee to Independent Directors 11 Report on Pay Disparity Against Against ShrHoldr 12 Limit Awards to Executives Against Against ShrHoldr 13 Limit Board Service for Other Companies Against Against ShrHoldr 14 Separate Chairman and CEO Positions Against Against ShrHoldr 15 Hire Advisor/Maximize Shareholder Value Against Against ShrHoldr 16 Adopt a Retention Ratio for Executives and Against Against ShrHoldr Directors 17 Require 70% to 80% Independent Board Against Against ShrHoldr 18 Report on Political Contributions/Activities Against Against ShrHoldr 09/10/03 - A H&R BLOCK, INC. *HRB* 093671105 07/08/03 1,100 1 Elect Directors For For Mgmt 1.1 Elect Director G. Kenneth Baum --- For WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director Henry F. Frigon --- For 1.3 Elect Director Roger W. Hale --- For - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 11 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 2 Amend Omnibus Stock Plan For For Mgmt VOTE RECOMMENDATION THE TOTAL COST OF THE COMPANY'S PLANS OF 7.08 PERCENT IS WITHIN THE ALLOWABLE CAP FOR THIS COMPANY OF 10.10 PERCENT. 3 Ratify Auditors For For Mgmt 05/27/04 - A HOME DEPOT, INC. (THE) *HD* 437076102 03/29/04 10,600 1 Elect Directors For Split Mgmt 1.1 Elect Director Gregory D. Brenneman --- For 1.2 Elect Director Richard H. Brown --- For 1.3 Elect Director John L. Clendenin --- For 1.4 Elect Director Berry R. Cox --- For 1.5 Elect Director Claudio X. Gonzalez --- Withhold 1.6 Elect Director Milledge A. Hart, III --- For 1.7 Elect Director Bonnie G. Hill --- For 1.8 Elect Director Kenneth G. Langone --- For 1.9 Elect Director Robert L. Nardelli --- For 1.10 Elect Director Roger S. Penske --- For 2 Ratify Auditors For For Mgmt 3 Establish Term Limits for Directors Against Against ShrHoldr 4 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 5 Performance- Based/Indexed Options Against Against ShrHoldr 6 Adopt ILO Based Code of Conduct Against Abstain ShrHoldr 7 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 8 Require Affirmative Vote of the Majority of Against Against ShrHoldr the Shares to Elect Directors 06/02/04 - A INGERSOLL-RAND COMPANY LIMITED *IR* G4776G101 04/02/04 3,150 MEETING FOR HOLDERS OF ADRS 1 Elect Directors For For Mgmt 2 ADOPTION OF AMENDED AND RESTATED INCENTIVE For For Mgmt STOCK PLAN OF 1998. 3 APPROVAL OF AMENDED AND RESTATED BYE-LAWS. For For Mgmt 4 Ratify Auditors For For Mgmt 5 SHAREHOLDER PROPOSAL TO DECLASSIFY THE Against For ShrHoldr BOARD OF DIRECTORS. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 12 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 6 SHAREHOLDER PROPOSAL TO CHANGE THE COMPANY Against Against ShrHoldr S JURISDICTION OF INCORPORATION. 7 SHAREHOLDER PROPOSAL TO REQUIRE THE Against Against ShrHoldr SEPARATION OF THE CHIEF EXECUTIVE OFFICER AND THE CHAIR OF THE BOARD. 05/19/04 - A INTEL CORP. *INTC* 458140100 03/22/04 16,700 1 Elect Directors For Split Mgmt 1.1 Elect Director Craig R. Barrett --- For 1.2 Elect Director Charlene Barshefsky --- For 1.3 Elect Director E. John P. Browne --- For 1.4 Elect Director Andrew S. Grove --- For 1.5 Elect Director D. James Guzy --- Withhold 1.6 Elect Director Reed E. Hundt --- For 1.7 Elect Director Paul S. Otellini --- For 1.8 Elect Director David S. Pottruck --- For 1.9 Elect Director Jane E. Shaw --- For 1.10 Elect Director John L. Thornton --- For 1.11 Elect Director David B. Yoffie --- For 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Expense Stock Options Against Against ShrHoldr 5 Limit/Prohibit Awards to Executives Against Against ShrHoldr 6 Performance- Based/Indexed Options Against Against ShrHoldr 04/27/04 - A INTERNATIONAL BUSINESS MACHINES CORP. 459200101 02/27/04 2,500 *IBM* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Ratify Auditors for the Company's Business For For Mgmt Consulting Services Unit 4 Approve Executive Incentive Bonus Plan For For Mgmt 5 Provide for Cumulative Voting Against For ShrHoldr 6 Amend Pension and Retirement Medical Against Against ShrHoldr Insurance Plans 7 Submit Executive Compensation to Vote Against Against ShrHoldr 8 Expense Stock Options Against Against ShrHoldr 9 Limit Awards to Executives Against Against ShrHoldr 10 China Principles Against Abstain ShrHoldr 11 Report on Political Contributions/Activities Against Against ShrHoldr 12 Report on Executive Compensation Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 13 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 03/02/04 - A INTERNATIONAL GAME TECHNOLOGY *IGT* 459902102 01/02/04 3,640 1 Elect Directors For Split Mgmt 1.1 Elect Director G. Thomas Baker --- For 1.2 Elect Director Neil Barsky --- For 1.3 Elect Director Robert A. Bittman --- For 1.4 Elect Director Richard R. Burt --- For 1.5 Elect Director Leslie S. Heisz --- For 1.6 Elect Director Robert A. Mathewson --- For 1.7 Elect Director Thomas J. Matthews --- For 1.8 Elect Director Robert Miller --- Withhold 1.9 Elect Director Frederick B. Rentschler --- For 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt 04/22/04 - A JOHNSON & JOHNSON *JNJ* 478160104 02/24/04 3,500 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Cease Charitable Contributions Against Against ShrHoldr 05/25/04 - A JP MORGAN CHASE & CO. *JPM* 46625H100 04/02/04 11,700 1 Approve Merger Agreement For For Mgmt 2 Elect Directors For For Mgmt 3 Ratify Auditors For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 5 Adjourn Meeting For Against Mgmt 6 Establish Term Limits for Directors Against Against ShrHoldr 7 Charitable Contributions Against Against ShrHoldr 8 Political Contributions Against Against ShrHoldr 9 Separate Chairman and CEO Positions Against Against ShrHoldr 10 Provide Adequate Disclosure for over the Against Against ShrHoldr counter Derivatives 11 Auditor Independence Against Against ShrHoldr 12 Submit Non-Employee Director Compensation Against Against ShrHoldr to Vote 13 Report on Pay Disparity Against Abstain ShrHoldr 11/05/03 - A KLA-TENCOR CORP. *KLAC* 482480100 09/15/03 2,100 1.a Elect Director H. Raymond Bingham For For Mgmt WE RECOMMEND A VOTE FOR THE DIRECTORS. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 14 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.b Elect Director Robert T. Bond For For Mgmt 1.c Elect Director Richard J. Elkus, Jr. For For Mgmt 1.d Elect Director Michael E. Marks For For Mgmt 2 Ratify Auditors For For Mgmt 11/05/03 - A LINEAR TECHNOLOGY CORP. *LLTC* 535678106 09/08/03 3,450 1 Elect Directors For Split Mgmt 1.1 Elect Director Robert H. Swanson, Jr. --- Withhold WE RECOMMEND A VOTE FOR THE DIRECTORS WITH THE EXCEPTION OF INSIDER ROBERT H. SWANSON, JR. WE RECOMMEND THAT SHAREHOLDERS WITHHOLD VOTES FROM ROBERT H. SWANSON, JR., FOR FAILURE TO ESTABLISH AN INDEPENDENT NOMINATING COMMITTEE. 1.2 Elect Director David S. Lee --- For 1.3 Elect Director Leo T. McCarthy --- For 1.4 Elect Director Richard M. Moley --- For 1.5 Elect Director Thomas S. Volpe --- For 2 Ratify Auditors For For Mgmt 05/03/04 - A MBNA CORP. *KRB* 55262L100 02/13/04 7,100 1 Elect Directors For Split Mgmt 1.1 Elect Director James H. Berick --- Withhold 1.2 Elect Director Benjamin R. Civiletti --- Withhold 1.3 Elect Director Bruce L. Hammonds --- Withhold 1.4 Elect Director William L. Jews --- For 1.5 Elect Director Randolph D. Lerner --- Withhold 1.6 Elect Director Stuart L. Markowitz --- For 1.7 Elect Director William B. Milstead --- For 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against Against ShrHoldr 4 Require Majority of Independent Directors Against Against ShrHoldr on Board 05/20/04 - A MCDONALD'S CORP. *MCD* 580135101 03/22/04 7,000 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Approve/Amend Executive Incentive Bonus Plan For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 15 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 08/28/03 - A MEDTRONIC, INC. *MDT* 585055106 07/03/03 4,000 1 Elect Directors For Split Mgmt 1.1 Elect Director Richard H. Anderson --- For WE RECOMMEND A VOTE FOR THE DIRECTORS WITH THE EXCEPTION OF GORDON M. SPRENGER. WE RECOMMEND THAT SHAREHOLDERS WITHHOLD VOTES FROM GORDON M. SPRENGER FOR STANDING AS AN AFFILIATED OUTSIDER ON THE COMPENSATION COMMITTEE. 1.2 Elect Director Michael R. Bonsignore --- For 1.3 Elect Director Gordon M. Sprenger --- Withhold 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt VOTE RECOMMENDATION THE TOTAL COST OF THE COMPANY'S PLANS OF 6.67 PERCENT IS WITHIN THE ALLOWABLE CAP FOR THIS COMPANY OF 12.48 PERCENT. ADDITIONALLY, THIS PLAN EXPRESSLY FORBIDS REPRICING. 4 Approve Executive Incentive Bonus Plan For For Mgmt THE PERFORMANCE MEASURES INCLUDED UNDER THE PLAN ARE APPROPRIATE FOR THE COMPANY GIVEN ITS LINE OF BUSINESS, LONG-TERM STRATEGIC OBJECTIVES, AND INDUSTRY-SPECIFIC MEASURES FOR ASSESSING MARKET COMPETITIVENESS. ADDITIONALLY, THE PLAN IS ADMINISTERED BY A COMMITTEE OF INDEPENDENT OUTSIDERS WHO MUST CERTIFY ATTAINMENT OF THESE OBJECTIVE, MEASURABLE PERFORMANCE GOALS BEFORE CASH AWARDS ARE PAID TO PARTICIPANTS. MOREOVER, PRESERVATION OF THE FULL DEDUCTIBILITY OF ALL COMPENSATION PAID REDUCES THE COMPANY'S CORPORATE TAX OBLIGATION. 04/23/04 - A MERRILL LYNCH & CO., INC. *MER* 590188108 02/24/04 5,300 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Restore or Provide for Cumulative Voting Against For ShrHoldr 4 Separate Chairman and CEO Positions Against Against ShrHoldr 08/15/03 - A MICROCHIP TECHNOLOGY, INC. *MCHP* 595017104 06/20/03 2,900 1 Elect Directors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 16 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.1 Elect Director Steve Sanghi --- For WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director Albert J. Hugo-Martinez --- For 1.3 Elect Director L.B. Day --- For 1.4 Elect Director Matthew W. Chapman --- For 1.5 Elect Director Wade F. Meyercord --- For 2 Amend Employee Stock Purchase Plan For For Mgmt ISS APPROVES OF THIS ITEM BECAUSE THE PLAN COMPLIES WITH SECTION 423 OF THE INTERNAL REVENUE CODE, THE NUMBER OF SHARES BEING ADDED IS RELATIVELY CONSERVATIVE, THE OFFERING PERIOD IS REASONABLE, AND THERE ARE LIMITATIONS ON PARTICIPATION. 3 Amend Employee Stock Purchase Plan For For Mgmt ISS APPROVES OF THIS ITEM BECAUSE THE PLAN COMPLIES WITH SECTION 423 OF THE INTERNAL REVENUE CODE, THE NUMBER OF SHARES BEING ADDED IS RELATIVELY CONSERVATIVE, THE OFFERING PERIOD IS REASONABLE, AND THERE ARE LIMITATIONS ON PARTICIPATION. 11/11/03 - A MICROSOFT CORP. *MSFT* 594918104 09/12/03 17,900 1 Elect Directors For Split Mgmt 1.1 Elect Director William H. Gates, III --- For WE RECOMMEND A VOTE FOR THE DIRECTORS WITH THE EXCEPTION OF JON A. SHIRLEY. WE RECOMMEND THAT SHAREHOLDERS WITHHOLD VOTES FROM JON A. SHIRLEY FOR STANDING AS AN AFFILIATED OUTSIDER ON THE AUDIT COMMITTEE. 1.2 Elect Director Steven A. Ballmer --- For 1.3 Elect Director James I. Cash, Jr., Ph.D. --- For 1.4 Elect Director Raymond V. Gilmartin --- For 1.5 Elect Director Ann McLaughlin Korologos --- For 1.6 Elect Director David F. Marquardt --- For 1.7 Elect Director Charles H. Noski --- For 1.8 Elect Director Dr. Helmut Panke --- For 1.9 Elect Director Wm. G. Reed, Jr. --- For 1.10 Elect Director Jon A. Shirley --- Withhold 2 Amend Omnibus Stock Plan For For Mgmt PLEASE SEE THE SECTION BELOW ENTITLED 'MULTIPLE PLAN - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 17 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ NOTES' FOR A FURTHER DISCUSSION OF THIS AND OTHER PLANS. VOTE RECOMMENDATION THE TOTAL COST OF THE COMPANY'S PLANS OF 9.34 PERCENT IS WITHIN THE ALLOWABLE CAP FOR THIS COMPANY OF 10.50 PERCENT. ADDITIONALLY, THIS PLAN EXPRESSLY FORBIDS REPRICING. IN CONJUNCTION WITH THE CHANGE IN COMPENSATION PRACTICES DISCUSSED UNDER THE PROPOSED AMENDMENTS TO THIS PLAN, MICROSOFT RECENTLY ANNOUNCED A TRANSACTION WITH JP MORGAN TO TRANSFER UNDERWATER EMPLOYEE STOCK OPTIONS FOR CASH. THIS PROPOSED TRANSACTION HAS NOT YET RECEIVED SEC APPROVAL AND IS NOT BEING SUBMITTED FOR SHAREHOLDER APPROVAL AT THE ANNUAL MEETING. UNDER THE POTENTIALLY TREND SETTING TRANSACTION, MICROSOFT EMPLOYEES CAN ELECT TO TRANSFER OPTIONS WITH AN EXERCISE PRICE OF $33 OR ABOVE FOR A CASH PAYMENT. THE STOCK OPTION TRANSFER PROGRAM ALLOWS UP TO 624 MILLION COMMON SHARES TO BE OFFERED AND SOLD BY JP MORGAN, AND THE TERMS FOR MOST OF THE TRANSFERRED OPTIONS WOULD BE REDUCED TO 36 MONTHS. MICROSOFT WILL PAY THE PROCEEDS RECEIVED ON THE PURCHASE PRICE OF THE OPTIONS FROM JP MORGAN TO EMPLOYEES. ISS WOULD LIKE TO SEE THE STOCK OPTION TRANSFER PROGRAM PUT TO SHAREHOLDER VOTE. THE OPTIONS SUBJECT TO THE TRANSFER WOULD REPRESENT APPROXIMATELY 40 PERCENT OF CURRENT OPTIONS OUTSTANDING AND APPROXIMATELY SIX PERCENT OF TOTAL SHARES OUTSTANDING AS OF SEPT. 12, 2003. ISS BELIEVES THAT THE STOCK OPTION TRANSFER PROGRAM REPRESENTS AN ALTERNATIVE TO REPRICING UNDERWATER STOCK OPTIONS, AND CONSTITUTES A SIGNIFICANT AMENDMENT TO THE COMPANY'S STOCK COMPENSATION PROGRAM. THE OPTION TRANSFER PROGRAM CHANGES THE INITIAL INTENT AND DESIGN OF STOCK OPTION AWARDS AND THE PAYOUT REALIZABLE BY EMPLOYEES. THE PROGRAM MODIFIES THE RISK CHARACTERISTICS OF THE OPTION AWARDS POST-ISSUANCE, WHICH HAS AN ECONOMIC IMPACT ON SHAREHOLDER VALUE. BY EXCHANGING UNDERWATER STOCK OPTIONS FOR CASH, THE PROGRAM WOULD ENSURE PROTECTION OF INCOME TO EMPLOYEES THAT IS NOT AVAILABLE TO SHAREHOLDERS AT LARGE. IN VIEW OF THESE FACTORS, IT IS IMPORTANT THAT SHAREHOLDERS EVALUATE THE OPTION TRANSFER PROGRAM AND ITS MERITS. WHILE ISS COMMENDS MICROSOFT FOR PROPOSING TO DECREASE THE MAXIMUM NUMBER OF SHARES ISSUABLE UNDER THE STOCK PLAN BY 100 MILLION SHARES, ISS WILL CONTINUE TO INCLUDE THE TRANSFERRED OPTIONS IN THE OVERHANG AS PART OF THE COMPENSATION PLAN ANALYSIS ASSUMING THAT THE TRANSACTION WITH JP MORGAN IS APPROVED BY THE SEC. EVEN THOUGH THE TRANSFERRED OPTIONS WOULD NO LONGER BE AVAILABLE FOR FUTURE GRANT UNDER THE PROGRAM, ISS STILL CONSIDERS THE TRANSFERRED OPTIONS AS PART OF THE ECONOMIC COSTS AND DILUTIVE IMPACT TO SHAREHOLDERS IN OUR ANALYSIS OF THE STOCK PLAN - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 18 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ PROPOSALS. ISS WILL FOLLOW FURTHER DEVELOPMENTS ON THE OPTION TRANSFER PROGRAM. MOREOVER, ISS WILL CONSIDER RECOMMENDING WITHHOLDING VOTES FROM THE DIRECTORS AT THE NEXT ANNUAL MEETING IF THE STOCK OPTION TRANSFER PROGRAM IS NOT SUBMITTED FOR SHAREHOLDER APPROVAL. 3 Amend Non-Employee Director Stock Option For For Mgmt Plan MULTIPLE PLAN NOTES: THE COMBINED SHAREHOLDER VALUE TRANSFER FOR ALL PLANS CONSIDERED IS 9.34 PERCENT. THE AGGREGATE VALUE OF ALL THE PROPOSALS DOES NOT EXCEED THE COMPANY'S ALLOWABLE SHAREHOLDER VALUE TRANSFER CAP OF 10.50 PERCENT. HOWEVER, ISS SUPPORTS ONLY THOSE PLANS THAT PROVIDE, IN AGGREGATE, THE GREATEST SHAREHOLDER VALUE TRANSFER WITHOUT EXCEEDING THE ALLOWABLE CAP AND THAT DO NOT VIOLATE REPRICING GUIDELINES. VOTE RECOMMENDATION THE TOTAL COST OF THE COMPANY'S PLANS OF 9.34 PERCENT IS WITHIN THE ALLOWABLE CAP FOR THIS COMPANY OF 10.50 PERCENT. MICROSOFT RECENTLY ANNOUNCED SOME SIGNIFICANT CHANGES TO ITS STOCK COMPENSATION PRACTICES. SPECIFICALLY, MICROSOFT WILL GRANT RESTRICTED STOCK UNITS INSTEAD OF STOCK OPTIONS, PROVIDE CASH FOR ELIGIBLE OUTSTANDING UNDERWATER STOCK OPTIONS AND EXPENSE STOCK OPTIONS UNDER FAS 123 RETROACTIVELY. MICROSOFT ANNOUNCED A TRANSACTION WITH JP MORGAN TO TRANSFER UNDERWATER EMPLOYEE STOCK OPTIONS FOR CASH. THIS PROPOSED TRANSACTION HAS NOT YET RECEIVED SEC APPROVAL AND IS NOT BEING SUBMITTED FOR SHAREHOLDER APPROVAL AT THE ANNUAL MEETING. UNDER THE POTENTIALLY TREND SETTING TRANSACTION, MICROSOFT EMPLOYEES CAN ELECT TO TRANSFER OPTIONS WITH AN EXERCISE PRICE OF $33 OR ABOVE FOR A CASH PAYMENT. THE STOCK OPTION TRANSFER PROGRAM ALLOWS UP TO 624 MILLION COMMON SHARES TO BE OFFERED AND SOLD BY JP MORGAN, AND THE TERMS FOR MOST OF THE TRANSFERRED OPTIONS WOULD BE REDUCED TO 36 MONTHS. MICROSOFT WILL PAY THE PROCEEDS RECEIVED ON THE PURCHASE PRICE OF THE OPTIONS FROM JP MORGAN TO EMPLOYEES. ISS WOULD LIKE TO SEE THE STOCK OPTION TRANSFER PROGRAM PUT TO SHAREHOLDER VOTE. THE OPTIONS SUBJECT TO THE TRANSFER WOULD REPRESENT APPROXIMATELY 40 PERCENT OF CURRENT OPTIONS OUTSTANDING AND APPROXIMATELY SIX PERCENT OF TOTAL SHARES OUTSTANDING AS OF SEPT. 12, 2003. ISS BELIEVES THAT THE STOCK OPTION TRANSFER PROGRAM REPRESENTS AN ALTERNATIVE TO REPRICING UNDERWATER STOCK OPTIONS, AND CONSTITUTES A SIGNIFICANT AMENDMENT TO THE COMPANY'S STOCK COMPENSATION PROGRAM. THE OPTION TRANSFER PROGRAM CHANGES THE INITIAL INTENT AND DESIGN OF STOCK OPTION AWARDS AND THE PAYOUT REALIZABLE BY EMPLOYEES. THE PROGRAM MODIFIES THE RISK CHARACTERISTICS OF THE OPTION AWARDS - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 19 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ POST-ISSUANCE, WHICH HAS AN ECONOMIC IMPACT ON SHAREHOLDER VALUE. BY EXCHANGING UNDERWATER STOCK OPTIONS FOR CASH, THE PROGRAM WOULD ENSURE PROTECTION OF INCOME TO EMPLOYEES THAT IS NOT AVAILABLE TO SHAREHOLDERS AT LARGE. IN VIEW OF THESE FACTORS, IT IS IMPORTANT THAT SHAREHOLDERS EVALUATE THE OPTION TRANSFER PROGRAM AND ITS MERITS. WHILE ISS COMMENDS MICROSOFT FOR PROPOSING TO DECREASE THE MAXIMUM NUMBER OF SHARES ISSUABLE UNDER THE STOCK PLAN BY 100 MILLION SHARES, ISS WILL CONTINUE TO INCLUDE THE TRANSFERRED OPTIONS IN THE OVERHANG AS PART OF THE COMPENSATION PLAN ANALYSIS ASSUMING THAT THE TRANSACTION WITH JP MORGAN IS APPROVED BY THE SEC. EVEN THOUGH THE TRANSFERRED OPTIONS WOULD NO LONGER BE AVAILABLE FOR FUTURE GRANT UNDER THE PROGRAM, ISS STILL CONSIDERS THE TRANSFERRED OPTIONS AS PART OF THE ECONOMIC COSTS AND DILUTIVE IMPACT TO SHAREHOLDERS IN OUR ANALYSIS OF THE STOCK PLAN PROPOSALS. ISS ALSO COMMENDS MICROSOFT FOR IMPLEMENTING A PERFORMANCE BASED STOCK AWARD PROGRAM FOR ITS EXECUTIVES. ACTUAL STOCK AWARDS WILL BE BASED ON THE GROWTH IN THE NUMBER AND SATISFACTION OF THEIR CUSTOMERS OVER A THREE-YEAR PERIOD. HOWEVER, ADDITIONAL INFORMATION ON THE QUANTITATIVE MEASURES AND THE HURDLE RATES SHOULD BE PROVIDED SO THAT SHAREHOLDERS CAN EVALUATE THE EFFECTIVENESS OF THE NEW PROGRAM. ISS WILL FOLLOW FURTHER DEVELOPMENTS ON THE OPTION TRANSFER PROGRAM. MOREOVER, ISS WILL CONSIDER RECOMMENDING WITHHOLDING VOTES FROM THE DIRECTORS AT THE NEXT ANNUAL MEETING IF THE STOCK OPTION TRANSFER PROGRAM IS NOT SUBMITTED FOR SHAREHOLDER APPROVAL. SHAREHOLDER PROPOSAL 4 Refrain from Giving Charitable Contributions Against Against ShrHoldr AS THE COMPANY COMPLIES WITH CURRENT LAWS AND REGULATIONS REGARDING CHARITABLE CONTRIBUTIONS, AND THE REFRAINING FROM MAKING CONTRIBUTIONS RUNS COUNTER TO THE COMPANY'S GOALS OF BEING A GOOD CORPORATE CITIZEN, WE RECOMMEND SHAREHOLDERS OPPOSE THIS REQUEST. 04/20/04 - A MORGAN STANLEY *MWD* 617446448 02/20/04 5,700 1 Elect Directors For Split Mgmt 1.1 Elect Director John W. Madigan --- Withhold 1.2 Elect Director Dr. Klaus Zumwinkel --- For 1.3 Elect Director Sir Howard Davies --- For - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 20 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors Against For ShrHoldr 4 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 5 Report on Political Contributions/Activities Against Against ShrHoldr 06/01/04 - A NABORS INDUSTRIES, LTD. *NBR* G6359F103 04/08/04 3,400 MEETING FOR HOLDERS OF ADRS 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 SHAREHOLDER PROPOSAL TO CHANGE NABORS Against Against Mgmt JURISDICTION OF INCORPORATION FROM BERMUDA TO DELAWARE. 05/27/04 - A NEXTEL COMMUNICATIONS, INC. *NXTL* 65332V103 04/02/04 2,650 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 09/22/03 - A NIKE, INC. *NKE* 654106103 07/25/03 1,100 1 Elect Directors For Split Mgmt 1.1 Elect Director Thomas E. Clarke as Class A Director --- For WE RECOMMEND A VOTE FOR THE DIRECTORS WITH THE EXCEPTIONS OF JOHN R. THOMPSON, JR. AND RICHARD K. DONAHUE. WE RECOMMEND THAT SHAREHOLDERS WITHHOLD VOTES FROM JOHN R. THOMPSON, JR. FOR POOR ATTENDANCE AND RICHARD K. DONAHUE FOR STANDING AS AN AFFILIATED OUTSIDER ON THE NOMINATING COMMITTEE. 1.2 Elect Director Ralph D. DeNunzio as Class A Director --- For 1.3 Elect Director Richard K. Donahue as Class A Director --- Withhold 1.4 Elect Director Delbert J. Hayes as Class A Director --- For 1.5 Elect Director Douglas G. Houser as Class A Director --- For 1.6 Elect Director Jeanne P. Jackson as Class A Director --- For 1.7 Elect Director Philip H. Knight as Class A Director --- For - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 21 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.8 Elect Director Charles W. Robinson as Class A Director --- For 1.9 Elect Director John R. Thompson, Jr. as Class A Director --- Withhold 1.10 Elect Director Jill K. Conway as Class B Director --- For 1.11 Elect Director Alan B. Graf, Jr. as Class B Director --- For 1.12 Elect Director John E. Jaqua as Class B Director --- For 1.13 Elect Director A. Michael Spence as Class B Director --- For 2 Amend Omnibus Stock Plan For Against Mgmt VOTE RECOMMENDATION THE TOTAL COST OF THE COMPANY'S PLANS OF 8.40 PERCENT IS ABOVE THE ALLOWABLE CAP FOR THIS COMPANY OF 5.01 PERCENT. ADDITIONALLY, THE PLAN ALLOWS REPRICING OF UNDERWATER STOCK OPTIONS WITHOUT SHAREHOLDER APPROVAL, WHICH WE BELIEVE REDUCES THE INCENTIVE VALUE OF THE PLAN. 3 Ratify Auditors For For Mgmt 05/25/04 - A OMNICOM GROUP INC. *OMC* 681919106 04/09/04 3,100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Non-Employee Director Stock Option For For Mgmt Plan 10/13/03 - A ORACLE CORP. *ORCL* 68389X105 08/21/03 12,100 1 Elect Directors For For Mgmt 1.1 Elect Director Lawrence J. Ellison --- For WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director Donald L. Lucas --- For 1.3 Elect Director Michael J. Boskin --- For 1.4 Elect Director Jeffrey O. Henley --- For 1.5 Elect Director Jack F. Kemp --- For 1.6 Elect Director Jeffrey Berg --- For 1.7 Elect Director Safra Catz --- For 1.8 Elect Director Hector Garcia-Molina --- For 1.9 Elect Director Joseph A. Grundfest --- For 1.10 Elect Director H. Raymond Bingham --- For 2 Approve Executive Incentive Bonus Plan For For Mgmt THE PERFORMANCE MEASURES INCLUDED UNDER THE PLAN - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 22 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ ARE APPROPRIATE FOR THE COMPANY GIVEN ITS LINE OF BUSINESS, LONG-TERM STRATEGIC OBJECTIVES, AND INDUSTRY-SPECIFIC MEASURES FOR ASSESSING MARKET COMPETITIVENESS. ADDITIONALLY, THE PLAN IS ADMINISTERED BY A COMMITTEE OF INDEPENDENT OUTSIDERS WHO MUST CERTIFY ATTAINMENT OF THESE OBJECTIVE, MEASURABLE PERFORMANCE GOALS BEFORE CASH AWARDS ARE PAID TO PARTICIPANTS. MOREOVER, PRESERVATION OF THE FULL DEDUCTIBILITY OF ALL COMPENSATION PAID REDUCES THE COMPANY'S CORPORATE TAX OBLIGATION. 3 Ratify Auditors For For Mgmt 4 Amend Non-Employee Director Omnibus Stock For For Mgmt Plan VOTE RECOMMENDATION THE TOTAL COST OF THE COMPANY'S PLANS OF 11.14 PERCENT IS WITHIN THE ALLOWABLE CAP FOR THIS COMPANY OF 12.54 PERCENT. ADDITIONALLY, THIS PLAN EXPRESSLY FORBIDS REPRICING. SHAREHOLDER PROPOSAL 5 Implement China Principles Against Abstain ShrHoldr SINCE THE COMPANY HAS HAD NO SIGNIFICANT CONTROVERSIES OR VIOLATIONS REGARDING ITS OPERATIONS IN CHINA AND HAS AN ESTABLISHED WORKPLACE CODE OF CONDUCT, WE RECOMMEND A VOTE AGAINST THIS ITEM. 05/05/04 - A PEPSICO, INC. *PEP* 713448108 03/12/04 2,700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Report on Political Contributions/Activities Against Against ShrHoldr 5 Report on Operational Impact of HIV/AIDS, Against Abstain ShrHoldr TB, and Malaria Pandemic 04/22/04 - A PFIZER INC. *PFE* 717081103 02/27/04 17,200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Report on Operational Impact of HIV/AIDS, Against Abstain ShrHoldr TB, and Malaria Pandemic 5 Cease Political Contributions/Activities Against Against ShrHoldr 6 Report on Political Contributions/Activities Against Against ShrHoldr 7 Establish Term Limits for Directors Against Against ShrHoldr 8 Report on Drug Pricing Against Against ShrHoldr 9 Limit Awards to Executives Against Against ShrHoldr 10 Amend Animal Testing Policy Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 23 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 06/08/04 - A PRUDENTIAL FINANCIAL INC *PRU* 744320102 04/12/04 3,700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Cease Charitable Contributions Against Against ShrHoldr 4 Declassify the Board of Directors Against For ShrHoldr 04/30/04 - A SBC COMMUNICATIONS INC. *SBC* 78387G103 03/02/04 4,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Bylaws For For Mgmt 4 Report on Political Contributions/Activities Against Against ShrHoldr 5 Change Size of Board of Directors Against Against ShrHoldr 04/14/04 - A SCHLUMBERGER LTD. *SLB* 806857108 02/25/04 3,000 MEETING FOR HOLDERS OF ADRS 1 Elect Directors For For Mgmt 2 ADOPTION AND APPROVAL OF FINANCIALS AND For For Mgmt DIVIDENDS 3 APPROVAL OF ADOPTION OF THE 2004 STOCK AND For For Mgmt DEFERRAL PLAN FOR NON-EMPLOYEE DIRECTORS 4 APPROVAL OF AUDITORS For For Mgmt 05/13/04 - A SLM CORP. *SLM* 78442P106 03/15/04 3,400 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/26/04 - A SOUTHERN COMPANY *SO* 842587107 03/29/04 4,000 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Outside Director Stock in Lieu of For For Mgmt Cash 05/12/04 - A ST. JUDE MEDICAL, INC. *STJ* 790849103 03/15/04 1,900 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Increase Authorized Common Stock For For Mgmt 5 Limit Executive Compensation Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 24 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 06/17/04 - A STAPLES, INC. *SPLS* 855030102 04/19/04 6,500 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Amend Employee Stock Purchase Plan For For Mgmt 5 Ratify Auditors For For Mgmt 6 Submit Shareholder Rights Plan (Poison Against Against ShrHoldr Pill) to Shareholder Vote 7 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 8 Limit Executive Compensation Against Against ShrHoldr 9 Prohibit Auditor from Providing Non-Audit Against Against ShrHoldr Services 05/07/04 - A STARWOOD HOTELS & RESORTS WORLDWIDE, 85590A203 03/19/04 2,900 INC. *HOT* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Declassify the Board of Directors For For Mgmt 11/07/03 - A SYSCO CORPORATION *SYY* 871829107 09/09/03 3,900 1 Elect Directors For Split Mgmt 1.1 Elect Director Jonathan Golden as Class II Director --- Withhold WE RECOMMEND A VOTE FOR THE DIRECTORS WITH THE EXCEPTIONS OF RICHARD J. SCHNIEDERS, THOMAS E. LANKFORD, AND JONATHAN GOLDEN. WE RECOMMEND THAT SHAREHOLDERS WITHHOLD VOTES FROM RICHARD J. SCHNIEDERS, THOMAS E. LANKFORD, AND JONATHAN GOLDEN FOR FAILURE TO IMPLEMENT PROPOSAL TO DECLASSIFY THE COMPANY'S BOARD. 1.2 Elect Director Joseph A. Hafner, Jr. as Class II Director --- For 1.3 Elect Director Thomas E. Lankford as Class II Director --- Withhold 1.4 Elect Director Richard J. Schnieders as Class II Director --- Withhold 1.5 Elect Director John K. Stubblefield, Jr. as Class III Director --- For 2 Increase Authorized Common Stock For For Mgmt THE REQUESTED INCREASE OF 1,000,000,000 SHARES IS BELOW THE ALLOWABLE THRESHOLD OF 1,500,000,000 SHARES. 3 Approve Omnibus Stock Plan For Against Mgmt VOTE RECOMMENDATION WE COMMEND THE COMPANY - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 25 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ FOR EXPRESSLY FORBIDDING THE REPRICING OF STOCK OPTIONS UNDER THE PLAN. HOWEVER, THE TOTAL COST OF THE COMPANY'S PLANS OF 11.54 PERCENT IS ABOVE THE ALLOWABLE CAP FOR THIS COMPANY OF 5.96 PERCENT. SHAREHOLDER PROPOSAL 4 Report on the Impact of Genetically Against Against ShrHoldr Engineered Products BASED ON THE POTENTIAL EXPENSES AND DIFFICULTY ACQUIRING RELIABLE RESULTS IN TESTING GE INGREDIENTS, WE DO NOT FEEL THIS REPORT WOULD NOT BE A BENEFICIAL USE OF SHAREHOLDER ASSETS. 05/19/04 - A TARGET CORPORATION *TGT* 87612E106 03/22/04 3,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 10/27/03 - S TEVA PHARMACEUTICAL INDUSTRIES 881624209 09/18/03 1,650 1 Elect G. Shalev as an External Director For For Mgmt DESPITE THE POOR LEVEL OF DISCLOSURE REGARDING THE BOARD, A SITUATION WHICH IS COMMON IN ISRAEL, WE BELIEVE IT WOULD BE COUNTERPRODUCTIVE TO WITHHOLD SUPPORT FROM SHALEV UNLESS THERE WAS SOME SPECIFIC CONTROVERSY INVOLVING THE COMPANY. 2 Approve Increase in Remuneration of For For Mgmt Directors other than the Chairman THIS IS A ROUTINE ITEM. 05/20/04 - A TEVA PHARMACEUTICAL INDUSTRIES 881624209 04/15/04 3,200 MEETING FOR HOLDERS OF ADRS 1 TO RECEIVE AND DISCUSS THE COMPANY S For For Mgmt CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2003 AND THE CONSOLIDATED STATEMENTS. 2 TO APPROVE THE BOARD OF DIRECTORS For For Mgmt RECOMMENDATION THAT THE CASH DIVIDEND FOR THE YEAR ENDED DECEMBER 31, 2003, WHICH WAS PAID IN FOUR INSTALLMENTS AND AGGREGATED NIS 1.44 (APPROXIMATELY US$0.322) PER ORDINARY SHARE, BE DECLARED FINAL. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 26 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 3 TO ELECT ABRAHAM E. COHEN TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 4 TO ELECT LESLIE DAN TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 5 TO ELECT PROF. MEIR HETH TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 6 TO ELECT PROF. MOSHE MANY TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 7 TO ELECT DOV SHAFIR TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 8 TO APPROVE THE PURCHASE OF DIRECTOR S AND For Against Mgmt OFFICER S LIABILITY INSURANCE FOR THE DIRECTORS AND OFFICERS OF THE COMPANY. 9 Ratify Auditors For For Mgmt 04/15/04 - A TEXAS INSTRUMENTS INC. *TXN* 882508104 02/17/04 5,450 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against Against ShrHoldr 05/18/04 - A THE ALLSTATE CORP. *ALL* 020002101 03/19/04 2,700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Executive Incentive Bonus Plan For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 5 Provide for Cumulative Voting Against For ShrHoldr 04/21/04 - A THE COCA-COLA COMPANY *KO* 191216100 02/23/04 4,400 1 Elect Directors For Split Mgmt 1.1 Elect Director Herbert A. Allen --- For 1.2 Elect Director Ronald W. Allen --- For 1.3 Elect Director Cathleen P. Black --- For 1.4 Elect Director Warren E. Buffett --- Withhold 1.5 Elect Director Douglas N. Daft --- For 1.6 Elect Director Barry Diller --- For 1.7 Elect Director Donald R. Keough --- For 1.8 Elect Director Susan Bennett King --- For 1.9 Elect Director Maria Elena Lagomasino --- For 1.10 Elect Director Donald F. Mchenry --- For - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 27 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.11 Elect Director Robert L. Nardelli --- For 1.12 Elect Director Sam Nunn --- For 1.13 Elect Director J. Pedro Reinhard --- For 1.14 Elect Director James D. Robinson III --- For 1.15 Elect Director Peter V. Ueberroth --- For 1.16 Elect Director James B. Williams --- For 2 Ratify Auditors For For Mgmt 3 Report on Operational Impact of HIV/AIDS For Abstain ShrHoldr Pandemic 4 Report on Stock Option Distribution by Race Against Abstain ShrHoldr and Gender 5 Prohibit Awards to Executives Against Against ShrHoldr 6 Submit Executive Compensation to Vote Against Against ShrHoldr 7 Submit Executive Compensation to Vote Against Against ShrHoldr 8 Implement China Principles Against Abstain ShrHoldr 9 Separate Chairman and CEO Positions Against Against ShrHoldr 05/13/04 - A THE DOW CHEMICAL COMPANY *DOW* 260543103 03/15/04 1,300 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Report on Social Initiatives in Bhopal Against Abstain ShrHoldr 05/12/04 - A THE GAP, INC. *GPS* 364760108 03/15/04 6,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Limit Executive Compensation Against Against ShrHoldr 03/31/04 - A THE GOLDMAN SACHS GROUP, INC. *GS* 38141G104 02/02/04 3,100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors Against For ShrHoldr 10/14/03 - A THE PROCTER & GAMBLE COMPANY *PG* 742718109 08/01/03 2,700 1 Elect Directors For For Mgmt 1.1 Elect Director Norman R. Augustine --- For - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 28 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director A.G. Lafley --- For 1.3 Elect Director Johnathan A. Rodgers --- For 1.4 Elect Director John F. Smith, Jr. --- For 1.5 Elect Director Margaret C. Whitman --- For 2 Ratify Auditors For For Mgmt 3 Approve Non-Employee Director Omnibus Stock For For Mgmt Plan VOTE RECOMMENDATION WE COMMEND THE COMPANY FOR EXPRESSLY FORBIDDING THE REPRICING OF STOCK OPTIONS UNDER THE PLAN. HOWEVER, THE TOTAL COST OF THE COMPANY'S PLANS OF 5.96 PERCENT IS ABOVE THE ALLOWABLE CAP FOR THIS COMPANY OF 5.20 PERCENT. SHAREHOLDER PROPOSALS 4 Declassify the Board of Directors Against Against ShrHoldr 5 Label Genetically Engineered Foods Against Abstain ShrHoldr GIVEN THAT THE LABELING OF GE INPUTS AT ALL STAGES OF THE SUPPLY CHAIN COULD PROVE DIFFICULT AND COSTLY TO THE COMPANY, WE CANNOT SUPPORT THIS SHAREHOLDER PROPOSAL AT THIS TIME. 03/25/04 - A TYCO INTERNATIONAL LTD. *TYC* 902124106 03/25/04 4,200 MEETING FOR HOLDERS OF ADRS 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 ADOPTION OF THE AMENDED AND RESTATED For For Mgmt BYE-LAWS 4 APPROVAL OF TYCO 2004 STOCK AND INCENTIVE For For Mgmt PLANS 5 SHAREHOLDER PROPOSAL REGARDING For For ShrHoldr ENVIRONMENTAL REPORTING. 6 SHAREHOLDER PROPOSAL TO CHANGE TYCO S Against Against ShrHoldr JURISDICTION OF INCORPORATION FROM BERMUDA TO A U.S. STATE. 7 SHAREHOLDER PROPOSAL ON COMMON SENSE Against Against ShrHoldr EXECUTIVE COMPENSATION. 05/06/04 - A UNITED PARCEL SERVICE, INC. *UPS* 911312106 03/08/04 1,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 29 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/14/04 - A UNITED TECHNOLOGIES CORP. *UTX* 913017109 02/17/04 3,300 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Disclosure of Executive Compensation Against Against ShrHoldr 4 Develop Ethical Criteria for Military Against Abstain ShrHoldr Contracts 5 Performance-Based/Indexed Options Against For ShrHoldr 6 Separate Chairman and CEO Positions Against For ShrHoldr 05/12/04 - A UNITEDHEALTH GROUP INCORPORATED *UNH* 91324P102 03/15/04 5,700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against Against ShrHoldr 4 Limit Awards to Executives Against Against ShrHoldr 07/30/03 - A VODAFONE GROUP PLC 92857W100 None 3,600 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Approve Remuneration Report For For Mgmt 3 Reelect Lord MacLaurin of Knebworth as For For Mgmt Director 4 Reelect Kenneth Hydon as Director For For Mgmt 5 Reelect Thomas Geitner as Director For For Mgmt 6 Reelect Alec Broers as Director For For Mgmt 7 Reelect Juergen Schrempp as Director For For Mgmt 8 Elect John Buchanan as Director For For Mgmt 9 Approve Final Dividend of 0.8983 Pence Per For For Mgmt Share 10 Ratify Deloitte and Touche as Auditors For For Mgmt 11 Authorize Board to Fix Remuneration of For For Mgmt Auditors 12 Authorize EU Political Donations up to GBP For For Mgmt 100,000 13 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of USD 900,000,000 14 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of USD 340,000,000 15 Authorize 6,800,000,000 Shares for Share For For Mgmt Repurchase Program - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 30 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 06/04/04 - A WAL-MART STORES, INC. *WMT* 931142103 04/05/04 11,300 1 Elect Directors For For Mgmt 2 Approve Stock Option Plan For For Mgmt 3 Approve Stock Option Plan For For Mgmt 4 Amend Employee Stock Purchase Plan For For Mgmt 5 Ratify Auditors For For Mgmt 6 Separate Chairman and CEO Positions Against Against ShrHoldr 7 Prepare Sustainability Report Against Abstain ShrHoldr 8 Report on Stock Option Distribution by Race Against Abstain ShrHoldr and Gender 9 Report on Genetically Modified Organisms Against Abstain ShrHoldr (GMO) 10 Prepare Diversity Report Against Abstain ShrHoldr 11 Submit Executive Compensation to Vote Against Against ShrHoldr 05/14/04 - A WASTE MANAGEMENT, INC. *WMI* 94106L109 03/19/04 4,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt 04/27/04 - A WELLS FARGO & COMPANY *WFC* 949746101 03/09/04 4,900 1 Elect Directors For Split Mgmt 1.1 Elect Director J.A. Blanchard III --- For 1.2 Elect Director Susan E. Engel --- For 1.3 Elect Director Enrique Hernandez, Jr. --- For 1.4 Elect Director Robert L. Joss --- For 1.5 Elect Director Reatha Clark King --- For 1.6 Elect Director Richard M. Kovacevich --- For 1.7 Elect Director Richard D. McCormick --- For 1.8 Elect Director Cynthia H. Milligan --- For 1.9 Elect Director Philip J. Quigley --- For 1.10 Elect Director Donald B. Rice --- Withhold 1.11 Elect Director Judith M. Runstad --- Withhold 1.12 Elect Director Stephen W. Sanger --- For 1.13 Elect Director Susan G. Swenson --- For 1.14 Elect Director Michael W. Wright --- - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 31 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM BLUE CHIP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Withhold 2 Approve Retirement Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Expense Stock Options Against Against ShrHoldr 5 Limit Executive Compensation Against Against ShrHoldr 6 Link Executive Compensation to Social Issues Against Against ShrHoldr 7 Report on Political Contributions/Activities Against Against ShrHoldr 04/22/04 - A WYETH *WYE* 983024100 03/12/04 3,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Drug Pricing Against Against ShrHoldr 4 Amend Animal Testing Policy Against Abstain ShrHoldr 08/07/03 - A XILINX, INC. *XLNX* 983919101 06/09/03 3,200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 07/22/03 - S ZIMMER HOLDINGS INC *ZMH* 98956P102 06/16/03 2,600 1 Issue Shares in Connection with an For For Mgmt Acquisition CONCLUSION: BASED ON THE FAIRNESS OPINION AND THE POTENTIAL STRATEGIC SYNERGIES, WE BELIEVE THE MERGER AGREEMENT WARRANTS SHAREHOLDER SUPPORT. 05/10/04 - A ZIMMER HOLDINGS INC *ZMH* 98956P102 03/15/04 4,150 1 Elect Directors For Withhold Mgmt 2 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 3 Ratify Auditors Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 32 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 06/24/04 - A A.G. EDWARDS, INC. *AGE* 281760108 05/03/04 500 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 04/28/04 - A ADOBE SYSTEMS INC. *ADBE* 00724F101 03/03/04 1,050 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Expense Stock Options Against Against ShrHoldr 4 Adopt a Plocy that will Committ Executives Against Against ShrHoldr to Hold a Significant Percentage of their Shares 5 Ratify Auditors For For Mgmt 04/15/04 - A ADTRAN, INC. *ADTN* 00738A106 03/01/04 2,000 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/20/04 - A ADVANCED FIBRE COMMUNICATIONS, INC. 00754A105 03/23/04 1,300 *AFCI* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 06/16/04 - A AEROPOSTALE, INC *ARO* 007865108 04/29/04 2,400 1 Classify the Board of Directors For Against Mgmt 2 Elect Directors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 10/30/03 - A AFFILIATED COMPUTER SERVICES, INC. 008190100 09/19/03 2,800 *ACS* 1 Elect Directors For For Mgmt 1.1 Elect Director Darwin Deason --- For WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director Jeffrey A. Rich --- For 1.3 Elect Director Mark A. King --- For 1.4 Elect Director Joseph P. O'Neill --- For 1.5 Elect Director Frank A. Rossi --- For 1.6 Elect Director J. Livingston Kosberg --- For 1.7 Elect Director Dennis McCuistion --- For 2 Approve Executive Incentive Bonus For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 1 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Plan THE PERFORMANCE MEASURES INCLUDED UNDER THE PLAN ARE APPROPRIATE FOR THE COMPANY GIVEN ITS LINE OF BUSINESS, LONG-TERM STRATEGIC OBJECTIVES, AND INDUSTRY-SPECIFIC MEASURES FOR ASSESSING MARKET COMPETITIVENESS. ADDITIONALLY, THE PLAN IS ADMINISTERED BY A COMMITTEE OF INDEPENDENT OUTSIDERS WHO MUST CERTIFY ATTAINMENT OF THESE OBJECTIVE, MEASURABLE PERFORMANCE GOALS BEFORE CASH AWARDS ARE PAID TO PARTICIPANTS. MOREOVER, PRESERVATION OF THE FULL DEDUCTIBILITY OF ALL COMPENSATION PAID REDUCES THE COMPANY'S CORPORATE TAX OBLIGATION. 3 Ratify Auditors For For Mgmt 06/08/04 - A AFFILIATED MANAGERS GROUP, INC. *AMG* 008252108 04/21/04 1,150 1 Elect Directors For Split Mgmt 1.1 Elect Director William J. Nutt --- For 1.2 Elect Director Sean M. Healey --- For 1.3 Elect Director Richard E. Floor --- Withhold 1.4 Elect Director Stephen J. Lockwood --- For 1.5 Elect Director Harold J. Meyerman --- For 1.6 Elect Director Robert C. Puff, Jr. --- For 1.7 Elect Director Dr. Rita M. Rodriguez --- For 06/08/04 - A ALLIANCE DATA SYSTEMS CORP *ADS* 018581108 04/14/04 5,400 1 Elect Directors For For Mgmt 08/05/03 - A ALLIANT TECHSYSTEMS INC. *ATK* 018804104 06/10/03 1,450 1 Elect Directors For For Mgmt 1.1 Elect Director Frances D. Cook --- For WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director Gilbert F. Decker --- For 1.3 Elect Director Jonathan G. Guss --- For 1.4 Elect Director Admiral David E. Jeremiah, USN (Ret.) --- For 1.5 Elect Director Admiral Paul David Miller, USN (Ret.) --- For - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 2 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.6 Elect Director Daniel J. Murphy, Jr. --- For 1.7 Elect Director General Robert W. RisCassi, USA (Ret.) --- For 1.8 Elect Director Michael T. Smith --- For 1.9 Elect Director William G. Van Dyke --- For 2 Ratify Auditors For For Mgmt SHAREHOLDER PROPOSAL 3 Report on Space-Based Weapons Against Against ShrHoldr 05/11/04 - A ALTERA CORP. *ALTR* 021441100 03/16/04 4,400 1 Elect Directors For For Mgmt 2 Amend Stock Option Plan For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Ratify Auditors For For Mgmt 5 Approve Option Expensing Against Against ShrHoldr 06/10/04 - A AMIS HOLDINGS INC *AMIS.2* 031538101 04/19/04 3,900 1 Elect Directors For Split Mgmt 1.1 Elect Director Dipanjan Deb --- Withhold 1.2 Elect Director Christine King --- Withhold 1.3 Elect Director David M. Rickey --- For 1.4 Elect Director Paul C. Schorr Iv --- Withhold 1.5 Elect Director Colin L. Slade --- For 1.6 Elect Director David Stanton --- Withhold 1.7 Elect Director James A. Urry --- Withhold 1.8 Elect Director Gregory L. Williams --- For 1.9 Elect Director S. Atiq Raza --- For 2 Ratify Auditors For For Mgmt 05/17/04 - A ARBITRON, INC. *ARB* 03875Q108 04/02/04 500 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 06/10/04 - A AVOCENT CORPORATION *AVCT* 053893103 04/30/04 1,450 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 3 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/11/04 - A BELO CORP. *BLC* 080555105 03/19/04 1,700 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 06/24/04 - A BEST BUY CO., INC. *BBY* 086516101 04/26/04 1,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 11/13/03 - A BRINKER INTERNATIONAL, INC. *EAT* 109641100 09/15/03 1,100 1 Elect Directors For For Mgmt 1.1 Elect Director Ronald A. McDougall --- For WE RECOMMEND A VOTE FOR THE DIRECTORS WITH THE EXCEPTIONS OF CECE SMITH, JAMES E. OESTERREICHER, RONALD KIRK, AND MARVIN J. GIROUARD. WE RECOMMEND THAT SHAREHOLDERS WITHHOLD VOTES FROM AUDIT COMMITTEE MEMBERS CECE SMITH, JAMES E. OESTERREICHER, RONALD KIRK, AND MARVIN J. GIROUARD FOR PAYING EXCESSIVE NON-AUDIT FEES. 1.2 Elect Director Douglas H. Brooks --- For 1.3 Elect Director Dan W. Cook, III --- For 1.4 Elect Director Robert M. Gates --- For 1.5 Elect Director Marvin J. Girouard --- For 1.6 Elect Director Ronald Kirk --- For 1.7 Elect Director George R. Mrkonic --- For 1.8 Elect Director Erle Nye --- For 1.9 Elect Director James E. Oesterreicher --- For 1.10 Elect Director Cece Smith --- For 1.11 Elect Director Roger T. Staubach --- For 2 Ratify Auditors For For Mgmt SHAREHOLDER PROPOSAL 3 Report on the Impact of Genetically Against Abstain ShrHoldr Engineered Products IN THIS CASE, THE PROPONENTS ARE ASKING FOR A REPORT ON THE COMPANY'S POLICIES REGARDING GE INGREDIENTS AS WELL AS ANY CONTINGENCY PLAN FOR SOURCING NON-GE INGREDIENTS SHOULD THE NEED ARISE. WHILE WE GENERALLY SUPPORT PROPOSALS THAT SEEK TO PROVIDE SHAREHOLDERS WITH GREATER DISCLOSURE REGARDING THE RISKS ASSOCIATED WITH THEIR INVESTMENT, WE BELIEVE THAT GENERATING SUCH A REPORT COULD BE TIME CONSUMING AND COSTLY TO THE - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 4 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ COMPANY WITHOUT PROVIDING SIGNIFICANT VALUE TO SHAREHOLDERS. SINCE THE GOVERNMENT BODIES TASKED WITH DETERMINING THE HEALTH AND SAFETY OF GE PRODUCTS HAVE DETERMINED THAT GE INGREDIENTS ARE NOT SIGNIFICANTLY DIFFERENT FROM CONVENTIONAL PRODUCTS, CERTAIN RAW MATERIALS HAVE SEEN A TREMENDOUS GROWTH IN THE USE OF THE GE PRODUCTS. THIS TYPE OF MARKET SATURATION, COMBINED WITH POTENTIAL DIFFICULTIES IN DETERMINING A DIFFERENCE BETWEEN ENGINEERED AND CONVENTIONAL PRODUCTS WITH CURRENT TESTING PROCEDURES MAY RESULT IN INACCURATE RESULTS. WE FURTHER NOTE THAT THE COMPANY CURRENTLY MEETS GOVERNMENT STANDARDS WITH REGARD TO FOOD SAFETY ISSUES. FINALLY, WE BELIEVE THAT PLANNING ALTERNATIVES FOR SOURCING NON-GE INGREDIENTS, SHOULD THE SITUATION REQUIRE, WOULD BE BASED LARGELY ON SPECULATION ABOUT FUTURE RESTRICTIONS AND LEGISLATION AND MAY NOT BE ULTIMATELY BENEFICIAL TO THE COMPANY OR ITS SHAREHOLDERS. BASED ON THE POTENTIAL EXPENSES AND DIFFICULTY ACQUIRING RELIABLE RESULTS IN TESTING GE INGREDIENTS, WE DO NOT FEEL THIS REPORT WOULD BE A BENEFICIAL USE OF SHAREHOLDER ASSETS. 04/29/04 - A BROADCOM CORP. *BRCM* 111320107 03/05/04 1,200 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For Against Mgmt 3 Ratify Auditors For For Mgmt 05/20/04 - A C.H. ROBINSON WORLDWIDE, INC. *CHRW* 12541W100 03/22/04 1,900 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 11/20/03 - A CACI INTERNATIONAL, INC. *CAI* 127190304 09/24/03 1,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 03/22/04 - S CAREMARK RX, INC. *CMX* 141705103 02/05/04 3,850 1 Increase Authorized Common Stock For For Mgmt 2 Approve Issuance of Stock in Connection For For Mgmt with Merger Agreement 3 Increase Authorized Preferred Stock For Against Mgmt 4 Approve Omnibus Stock Plan For For Mgmt 5 Allow Postponement or Adjournment of For Against Mgmt Special Meeting - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 5 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/04/04 - A CAREMARK RX, INC. *CMX* 141705103 04/01/04 3,950 1 Elect Directors For For Mgmt 11/25/03 - A CBRL GROUP, INC. *CBRL* 12489V106 09/26/03 400 1 Elect Directors For Split Mgmt 1.1 Elect Director James D. Carreker --- For 1.2 Elect Director Robert V. Dale --- For 1.3 Elect Director Dan W. Evins --- For 1.4 Elect Director Robert C. Hilton --- For 1.5 Elect Director Charles E. Jones, Jr. --- For 1.6 Elect Director B. F. 'Jack' Lowery --- Withhold 1.7 Elect Director Gordon L. Miller --- For 1.8 Elect Director Martha M. Mitchell --- Withhold 1.9 Elect Director Andrea M. Weiss --- For 1.10 Elect Director Jimmie D. White --- Withhold 1.11 Elect Director Michael A. Woodhouse --- For 2 Ratify Auditors For For Mgmt 05/20/04 - A CDW CORP. *CDWC* 12512N105 04/01/04 2,440 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Non-Employee Director Omnibus Stock For For Mgmt Plan 10/29/03 - A CHECKFREE CORP. *CKFR* 162813109 09/08/03 2,500 1 Elect Directors For For Mgmt 1.1 Elect Director Mark A. Johnson --- For WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director Eugene F. Quinn --- For 2 Approve Executive Incentive Bonus Plan For For Mgmt THE PERFORMANCE MEASURES INCLUDED UNDER THE PLAN ARE APPROPRIATE FOR THE COMPANY GIVEN ITS LINE OF BUSINESS, LONG-TERM STRATEGIC OBJECTIVES, AND INDUSTRY-SPECIFIC MEASURES FOR ASSESSING MARKET COMPETITIVENESS. ADDITIONALLY, THE PLAN IS ADMINISTERED BY A COMMITTEE OF INDEPENDENT OUTSIDERS WHO MUST CERTIFY ATTAINMENT OF THESE OBJECTIVE, MEASURABLE PERFORMANCE GOALS BEFORE CASH - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 6 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ AWARDS ARE PAID TO PARTICIPANTS. MOREOVER, PRESERVATION OF THE FULL DEDUCTIBILITY OF ALL COMPENSATION PAID REDUCES THE COMPANY'S CORPORATE TAX OBLIGATION. SHAREHOLDER PROPOSAL 3 Make Effort to Locate Women and Minorities Against Abstain ShrHoldr for Board Nomination BASED ON THE COMPANY'S CURRENT LACK OF BOARD DIVERSITY, THE LACK OF DISCLOSURE REGARDING CURRENT NOMINATING PROCEDURES AND DIVERSITY INITIATIVES, AND THE COMPANY'S FAILURE TO ESTABLISH A NOMINATING COMMITTEE, WE RECOMMEND THAT SHAREHOLDERS SUPPORT THIS SHAREHOLDER PROPOSAL. 04/21/04 - A ** CHICAGO MERCANTILE EXCHANGE 167760107 02/25/04 775 HOLDINGS, INC. *CME* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 06/22/04 - A CHICO'S FAS, INC. *CHS* 168615102 04/26/04 950 1 Elect Directors For Split Mgmt 1.1 Elect Director Helene B. Gralnick --- Withhold 1.2 Elect Director Verna K. Gibson --- For 1.3 Elect Director Betsy S. Atkins --- For 1.4 Elect Director Scott A. Edmonds --- Withhold 2 Change Range for Size of the Board For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Ratify Auditors For For Mgmt 05/24/04 - A CITADEL BROADCASTING CORP *CDL* 17285T106 03/29/04 2,500 1 Elect Directors For Split Mgmt 1.1 Elect Director David W. Checketts --- For 1.2 Elect Director J. Anthony Forstmann --- Withhold 1.3 Elect Director Charles P. Rose, Jr. --- For 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 7 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 06/23/04 - A/S COGNOS INC. *CSN.* 19244C109 04/26/04 2,200 1 Elect Directors For For Mgmt 2 Ratify Ernst & Young LLP as Auditors For For Mgmt 3 Amend 2003 - 2008 Stock Option Plan For For Mgmt 4 Eliminate Class of Preferred Stock For For Mgmt 06/11/04 - A COMMERCE BANCORP, INC. *CBH* 200519106 04/23/04 600 1 Elect Directors For For Mgmt 2 Approve Stock Option Plan For Against Mgmt 3 Increase Authorized Common Stock For Against Mgmt 4 Ratify Auditors For For Mgmt 12/16/03 - A COMVERSE TECHNOLOGY, INC. *CMVT* 205862402 10/28/03 3,200 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Ratify Auditors For For Mgmt 06/15/04 - A COMVERSE TECHNOLOGY, INC. *CMVT* 205862402 04/27/04 7,800 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 06/09/04 - A COSTAR GROUP, INC. *CSGP* 22160N109 04/16/04 1,550 1 Elect Directors For Split Mgmt 1.1 Elect Director Michael R. Klein --- Withhold 1.2 Elect Director Andrew C. Florance --- For 1.3 Elect Director David Bonderman --- Withhold 1.4 Elect Director Warren H. Haber --- For 1.5 Elect Director Josiah O. Low, III --- For 1.6 Elect Director Christopher J. Nassetta --- For 1.7 Elect Director Catherine B. Reynolds --- For 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 8 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/04/04 - A DANAHER CORP. *DHR* 235851102 03/10/04 1,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Stock Option Plan For For Mgmt 4 Develop Charter Language on Board Diversity Against Against ShrHoldr 11/28/03 - S DST SYSTEMS, INC. *DST* 233326107 11/10/03 950 1 Approve Reorganization Plan For For Mgmt 04/28/04 - A EATON CORP. *ETN* 278058102 03/01/04 1,750 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 06/24/04 - A EBAY INC. *EBAY* 278642103 04/26/04 500 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Amend Stock Option Plan For For Mgmt 4 Increase Authorized Common Stock For For Mgmt 5 Ratify Auditors For For Mgmt 6 Expense Stock Options Against Against ShrHoldr 06/03/04 - A ELECTRONICS FOR IMAGING, INC. *EFII* 286082102 04/12/04 1,800 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 05/13/04 - A ENTERCOM COMMUNICATIONS CORP. *ETM* 293639100 03/19/04 1,150 1 Elect Directors For For Mgmt 05/24/04 - A EURONET WORLDWIDE INC. *EEFT* 298736109 04/09/04 1,900 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 05/05/04 - A EXPEDITORS INTERNATIONAL OF 302130109 03/10/04 2,080 WASHINGTON, INC. *EXPD* 1 Elect Directors For Split Mgmt 1.1 Elect Director Peter J. Rose --- Withhold - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 9 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.2 Elect Director James L.K. Wang --- Withhold 1.3 Elect Director R. Jordan Gates --- Withhold 1.4 Elect Director James J. Casey --- For 1.5 Elect Director Dan P. Kourkoumelis --- For 1.6 Elect Director Michael J. Malone --- For 1.7 Elect Director John W. Meisenbach --- For 01/08/04 - A FACTSET RESEARCH SYSTEMS, INC. *FDS* 303075105 11/07/03 100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 02/02/04 - A FAIR ISAAC INC. *FIC* 303250104 12/05/03 1,050 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Ratify Auditors For For Mgmt 05/04/04 - A FAIRCHILD SEMICONDUCTOR 303726103 03/10/04 1,700 INTERNATIONAL, INC. *FCS* 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 04/20/04 - A FASTENAL CO. *FAST* 311900104 02/23/04 2,180 1 Elect Directors For Split Mgmt 1.1 Elect Director Robert A. Kierlin --- Withhold 1.2 Elect Director Stephen M. Slaggie --- Withhold 1.3 Elect Director Michael M. Gostomski --- For 1.4 Elect Director John D. Remick --- For 1.5 Elect Director Henry K. McConnon --- For 1.6 Elect Director Robert A. Hansen --- For 1.7 Elect Director Willard D. Oberton --- Withhold 1.8 Elect Director Michael J. Dolan --- For 1.9 Elect Director Reyne K. Wisecup --- Withhold 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 10 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/06/04 - A FISERV, INC. *FISV* 337738108 02/13/04 4,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 05/26/04 - A FOOT LOCKER INC *FL* 344849104 04/02/04 800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 06/01/04 - A FOUNDRY NETWORKS, INC. *FDRY* 35063R100 04/09/04 2,700 1 Elect Directors For Split Mgmt 1.1 Elect Director Bobby R. Johnson, Jr. --- For 1.2 Elect Director Andrew K. Ludwick --- For 1.3 Elect Director Alfred J. Amoroso --- For 1.4 Elect Director C. Nicholas Keating, Jr. --- For 1.5 Elect Director J. Steven Young --- Withhold 1.6 Elect Director Alan L. Earhart --- For 2 Ratify Auditors For For Mgmt 06/16/04 - A FRED'S, INC. *FRED* 356108100 04/30/04 600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Employee Stock Purchase Plan For For Mgmt 05/13/04 - A GENTEX CORP. *GNTX* 371901109 03/19/04 2,200 1 Elect Directors For For Mgmt 2 Amend Stock Option Plan For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Ratify Auditors For For Mgmt 05/17/04 - A GETTY IMAGES, INC. *GYI* 374276103 03/19/04 1,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 09/10/03 - A H&R BLOCK, INC. *HRB* 093671105 07/08/03 1,500 1 Elect Directors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 11 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.1 Elect Director G. Kenneth Baum --- For WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director Henry F. Frigon --- For 1.3 Elect Director Roger W. Hale --- For 2 Amend Omnibus Stock Plan For For Mgmt VOTE RECOMMENDATION THE TOTAL COST OF THE COMPANY'S PLANS OF 7.08 PERCENT IS WITHIN THE ALLOWABLE CAP FOR THIS COMPANY OF 10.10 PERCENT. 3 Ratify Auditors For For Mgmt 11/12/03 - A HARMAN INTERNATIONAL INDUSTRIES, INC. 413086109 09/15/03 400 *HAR* 1 Elect Directors For For Mgmt 1.1 Elect Director Edward H. Meyer --- For WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director Gregory P. Stapleton --- For 1.3 Elect Director Stanley A. Weiss --- For 2 Approve Stock Split For For Mgmt BASED ON THE COMPANY'S CURRENT STOCK PRICE AND THE REASONABLE INCREASE IN AUTHORIZED SHARES, WE RECOMMEND A VOTE FOR THIS PROPOSAL. 05/13/04 - A HCC INSURANCE HOLDINGS, INC. *HCC* 404132102 04/05/04 720 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 02/17/04 - A HEALTH MANAGEMENT ASSOCIATES, INC. 421933102 12/19/03 4,010 *HMA* 1 Elect Directors For For Mgmt 05/25/04 - A HENRY SCHEIN, INC. *HSIC* 806407102 04/15/04 800 1 Elect Directors For Split Mgmt 1.1 Elect Director Stanley M. Bergman --- For 1.2 Elect Director Gerald A. Benjamin --- For 1.3 Elect Director James P. Breslawski --- For 1.4 Elect Director Mark E. Mlotek --- For 1.5 Elect Director Steven Paladino --- For - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 12 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.6 Elect Director Barry J. Alperin --- For 1.7 Elect Director Pamela Joseph --- Withhold 1.8 Elect Director Donald J. Kabat --- For 1.9 Elect Director Marvin H. Schein --- For 1.10 Elect Director Irving Shafran --- For 1.11 Elect Director Philip A. Laskawy --- For 1.12 Elect Director Norman S. Matthews --- For 1.13 Elect Director Louis W. Sullivan --- For 1.14 Elect Director Margaret A. Hamburg --- For 2 Amend Stock Option Plan For For Mgmt 3 Amend Non-Employee Director Omnibus Stock For For Mgmt Plan 4 Approve Employee Stock Purchase Plan For For Mgmt 5 Ratify Auditors For For Mgmt 06/17/04 - A HOT TOPIC, INC. *HOTT* 441339108 04/21/04 1,900 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 10/29/03 - A INTEGRATED CIRCUIT SYSTEMS, INC. 45811K208 09/19/03 1,100 *ICST* 1 Elect Directors For Split Mgmt 1.1 Elect Director Hock E. Tan --- Withhold WE RECOMMEND THAT SHAREHOLDERS VOTE FOR NAM P. SUH, PH.D., BUT WITHHOLD VOTES FROM INSIDER HOCK E. TAN FOR FAILURE TO ESTABLISH AN INDEPENDENT NOMINATING COMMITTEE. 1.2 Elect Director Nam P. Suh, Ph.D. --- For 05/12/04 - A INTERSIL CORPORATION *ISIL* 46069S109 03/17/04 1,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 04/13/04 - A INVESTORS FINANCIAL SERVICES CORP. 461915100 02/20/04 4,480 *IFIN* 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 13 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 4 Ratify Auditors For For Mgmt 04/29/04 - A INVITROGEN CORP. *IVGN* 46185R100 02/27/04 500 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Amend Employee Stock Purchase Plan For For Mgmt 05/27/04 - A IRON MOUNTAIN INC. *IRM* 462846106 04/05/04 1,005 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 02/10/04 - A JACOBS ENGINEERING GROUP INC. *JEC* 469814107 01/05/04 2,100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 11/06/03 - A JDS UNIPHASE CORP. *JDSU* 46612J101 09/15/03 10,600 1 Elect Directors For For Mgmt 1.1 Elect Director Robert E. Enos --- For WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director Peter A. Guglielmi --- For 2 Approve Omnibus Stock Plan For For Mgmt VOTE RECOMMENDATION THE TOTAL COST OF THE COMPANY'S PLANS OF 9.47 PERCENT IS WITHIN THE ALLOWABLE CAP FOR THIS COMPANY OF 12.23 PERCENT. ADDITIONALLY, THIS PLAN EXPRESSLY FORBIDS REPRICING. 3 Ratify Auditors For For Mgmt 05/26/04 - A KRISPY KREME DOUGHNUTS INC. *KKD* 501014104 03/24/04 1,200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/27/04 - A L-3 COMMUNICATIONS HOLDINGS, INC. 502424104 03/19/04 800 *LLL* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Amend Omnibus Stock Plan For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 14 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/27/04 - A LAMAR ADVERTISING COMPANY *LAMR* 512815101 04/05/04 1,800 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 05/13/04 - A LEAR CORPORATION *LEA* 521865105 03/19/04 350 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 07/22/03 - A LEGG MASON, INC. *LM* 524901105 05/23/03 1,480 1 Elect Directors For Split Mgmt 1.1 Elect Director Carl Bildt --- For WE RECOMMEND A VOTE FOR THE DIRECTORS WITH THE EXCEPTION OF INSIDER HARRY M. FORD, JR.. WE RECOMMEND THAT SHAREHOLDERS WITHHOLD VOTES FROM HARRY M. FORD, JR. FOR FAILURE TO ESTABLISH AN INDEPENDENT NOMINATING COMMITTEE. 1.2 Elect Director Harry M. Ford, Jr. --- Withhold 1.3 Elect Director John E. Koerner, III --- For 1.4 Elect Director Peter F. O'Malley --- For 1.5 Elect Director James E. Ukrop --- For 1.6 Elect Director Dennis R. Beresford --- For 04/02/04 - A LEHMAN BROTHERS HOLDINGS INC. *LEH* 524908100 02/13/04 1,700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 11/05/03 - A LINEAR TECHNOLOGY CORP. *LLTC* 535678106 09/08/03 1,600 1 Elect Directors For Split Mgmt 1.1 Elect Director Robert H. Swanson, Jr. --- Withhold WE RECOMMEND A VOTE FOR THE DIRECTORS WITH THE EXCEPTION OF INSIDER ROBERT H. SWANSON, JR. WE RECOMMEND THAT SHAREHOLDERS WITHHOLD VOTES FROM ROBERT H. SWANSON, JR., FOR FAILURE TO ESTABLISH AN INDEPENDENT NOMINATING COMMITTEE. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 15 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.2 Elect Director David S. Lee --- For 1.3 Elect Director Leo T. McCarthy --- For 1.4 Elect Director Richard M. Moley --- For 1.5 Elect Director Thomas S. Volpe --- For 2 Ratify Auditors For For Mgmt 04/30/04 - A LITTELFUSE, INC. *LFUS* 537008104 03/12/04 700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/05/04 - A MARVEL ENTERPRISES, INC. *MVL* 57383M108 03/24/04 800 1 Elect Directors For For Mgmt 2 Amend Articles/Bylaws/Charter-Non-Routine For For Mgmt 3 Amend Omnibus Stock Plan For Against Mgmt 4 Ratify Auditors For For Mgmt 05/28/04 - A MARVELL TECHNOLOGY GROUP LTD *MRVL* G5876H105 04/14/04 2,100 MEETING FOR HOLDERS OF ADRS 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 TO AUTHORIZE THE BOARD OF DIRECTORS TO FIX For For Mgmt THE AUDITORS REMUNERATION FOR THE 2005 FISCAL YEAR ENDING JANUARY 29, 2005. 4 TO APPROVE AN INCREASE TO THE COMPANY S For For Mgmt AUTHORIZED SHARE CAPITAL. 11/19/03 - A MEDICIS PHARMACEUTICAL CORP. *MRX* 584690309 10/10/03 1,560 1 Elect Directors For For Mgmt 1.1 Elect Director Arthur G. Altschul, Jr. --- For WE RECOMMEND WITHHOLDING VOTES FROM ALL OF THE NOMINEES. WE RECOMMEND THAT SHAREHOLDERS WITHHOLD VOTES FROM AUDIT COMMITTEE MEMBERS PHILIP S. SCHEIN, M.D. AND ARTHUR G. ALTSCHUL, JR. FOR PAYING EXCESSIVE NON-AUDIT FEES. 1.2 Elect Director Philip S. Schein, M.D. --- For - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 16 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 2 Increase Authorized Common Stock For For Mgmt THE REQUESTED INCREASE OF 100,000,000 SHARES IS ABOVE THE ALLOWABLE THRESHOLD OF 62,500,000 SHARES. 3 Ratify Auditors For For Mgmt 12/10/03 - S MERCURY INTERACTIVE CORP. *MERQ* 589405109 10/31/03 900 1 Amend Stock Option Plan For Against Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 08/15/03 - A MICROCHIP TECHNOLOGY, INC. *MCHP* 595017104 06/20/03 3,725 1 Elect Directors For For Mgmt 1.1 Elect Director Steve Sanghi --- For WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director Albert J. Hugo-Martinez --- For 1.3 Elect Director L.B. Day --- For 1.4 Elect Director Matthew W. Chapman --- For 1.5 Elect Director Wade F. Meyercord --- For 2 Amend Employee Stock Purchase Plan For For Mgmt ISS APPROVES OF THIS ITEM BECAUSE THE PLAN COMPLIES WITH SECTION 423 OF THE INTERNAL REVENUE CODE, THE NUMBER OF SHARES BEING ADDED IS RELATIVELY CONSERVATIVE, THE OFFERING PERIOD IS REASONABLE, AND THERE ARE LIMITATIONS ON PARTICIPATION. 3 Amend Employee Stock Purchase Plan For For Mgmt ISS APPROVES OF THIS ITEM BECAUSE THE PLAN COMPLIES WITH SECTION 423 OF THE INTERNAL REVENUE CODE, THE NUMBER OF SHARES BEING ADDED IS RELATIVELY CONSERVATIVE, THE OFFERING PERIOD IS REASONABLE, AND THERE ARE LIMITATIONS ON PARTICIPATION. 04/27/04 - A MOODY'S CORPORATION *MCO* 615369105 03/01/04 1,000 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Ratify Auditors For For Mgmt 5 Performance- Based Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 17 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 02/23/04 - S MOORE WALLACE INCORPORATED (FORMERLY 615857109 01/15/04 2,550 MOORE CORP. LTD. ) 1 Approve Arrangement Resolution For For Mgmt 2 Issue Shares in Connection with the None For Mgmt acquisition of Payment Processing Solutions Inc. 05/11/04 - A NATIONAL INSTRUMENTS CORP. *NATI* 636518102 03/15/04 1,350 1 Elect Directors For For Mgmt 2 Amend Stock Option Plan For For Mgmt 10/29/03 - S NEW YORK COMMUNITY BANCORP, INC. 649445103 09/12/03 1,100 *NYB* 1 Approve Merger Agreement For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 05/19/04 - A NEW YORK COMMUNITY BANCORP, INC. 649445103 03/29/04 2,620 *NYB* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/18/04 - A OMNICARE, INC. *OCR* 681904108 03/31/04 2,100 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/25/04 - A OMNICOM GROUP INC. *OMC* 681919106 04/09/04 1,500 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Non-Employee Director Stock Option For For Mgmt Plan 05/19/04 - A PACIFIC SUNWEAR OF CALIFORNIA, INC. 694873100 04/05/04 1,750 *PSUN* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 09/08/03 - A PATTERSON COS INC. *PDCO* 703412106 07/14/03 720 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 18 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 10/02/03 - A PAYCHEX, INC. *PAYX* 704326107 08/04/03 3,450 1 Elect Directors For Split Mgmt 1.1 Elect Director B. Thomas Golisano --- Withhold WE RECOMMEND A VOTE FOR THE DIRECTORS WITH THE EXCEPTIONS OF AFFILIATED OUTSIDERS JOSEPH M. TUCCI, J. ROBERT SEBO, G. THOMAS CLARK AND INSIDER B. THOMAS GOLISANO. WE RECOMMEND THAT SHAREHOLDERS WITHHOLD VOTES FROM G. THOMAS CLARK, JOSEPH M. TUCCI, B. THOMAS GOLISANO AND J. ROBERT SEBO FOR FAILURE TO ESTABLISH AN INDEPENDENT NOMINATING COMMITTEE AND FROM G.THOMAS CLARK FOR STANDING AS AN AFFILIATED OUTSIDER ON THE AUDIT COMMITTEE AND JOSEPH M. TUCCI FOR STANDING AS AN AFFILIATED OUTSIDER ON THE COMPENSATION COMMITTEE. 1.2 Elect Director Betsy S. Atkins --- For 1.3 Elect Director G. Thomas Clark --- Withhold 1.4 Elect Director David J. S. Flaschen --- For 1.5 Elect Director Phillip Horsley --- For 1.6 Elect Director Grant M. Inman --- For 1.7 Elect Director J. Robert Sebo --- Withhold 1.8 Elect Director Joseph M. Tucci --- Withhold 06/03/04 - A PETCO ANIMAL SUPPLIES, INC. *PETC* 716016209 04/16/04 1,400 1 Elect Directors For For Mgmt 2 Report on Animal Sales Against Abstain ShrHoldr 06/02/04 - A POLYCOM, INC. *PLCM* 73172K104 04/09/04 850 1 Elect Directors For Split Mgmt 1.1 Elect Director Betsy S. Atkins --- For 1.2 Elect Director John Seely Brown --- For 1.3 Elect Director Robert C. Hagerty --- For 1.4 Elect Director John A. Kelley, Jr. --- For 1.5 Elect Director Michael R. Kourey --- For 1.6 Elect Director Stanley J. Meresman --- For 1.7 Elect Director William A. Owens --- Withhold 1.8 Elect Director Durk I. Jager --- For 1.9 Elect Director Thomas G. Stemberg --- For - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 19 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 04/14/04 - A R. R. DONNELLEY & SONS CO. *RRD* 257867101 03/01/04 1,228 1 Elect Directors For For Mgmt 2 Sale of Company Assets Against Against ShrHoldr 3 Expense Stock Options Against Against ShrHoldr 10/30/03 - A REGIS CORP. *RGS* 758932107 09/19/03 1,100 1 Elect Directors For For Mgmt 11/13/03 - A RESMED, INC. *RMD* 761152107 09/15/03 3,200 1 Elect Directors For For Mgmt 1.1 Elect Director Peter C. Farrell, Ph.D. --- For WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director Gary W. Pace, Ph.D. --- For 2 Approve Employee Stock Purchase Plan For For Mgmt ISS APPROVES OF THIS PLAN BECAUSE IT COMPLIES WITH SECTION 423 OF THE INTERNAL REVENUE CODE, THE NUMBER OF SHARES BEING RESERVED IS RELATIVELY CONSERVATIVE, THE OFFERING PERIOD IS REASONABLE, AND THERE ARE LIMITS ON PARTICIPATION. 3 Approve Increase in Non-Executive Director For For Mgmt Fees WE BELIEVE THESE FEES REPRESENT AN APPROPRIATE FORM OF COMPENSATION FOR THE COMPANY'S DIRECTORS. AS SUCH, THIS ITEM WARRANTS SHAREHOLDER APPROVAL. 4 Ratify Auditors For For Mgmt 05/04/04 - A ROBERT HALF INTERNATIONAL INC. *RHI* 770323103 03/11/04 5,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 02/04/04 - A ROCKWELL AUTOMATION INC *ROK* 773903109 12/08/03 1,600 A.1 Elect Director Don H. Davis, Jr. For For Mgmt A.2 Elect Director William H. Gray, III For For Mgmt A.3 Elect Director William T. McCormick, Jr. For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 20 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ A.4 Elect Director Keith D. Nosbusch For For Mgmt B Ratify Auditors For For Mgmt C Amend Omnibus Stock Plan For For Mgmt 05/27/04 - A SIRVA, INC. *SIR* 82967Y104 04/01/04 1,400 1 Elect Directors For Split Mgmt 1.1 Elect Director Kathleen J. Affeldt --- For 1.2 Elect Director Richard J. Schnall --- Withhold 1.3 Elect Director Carl T. Stocker --- For 2 Ratify Auditors For For Mgmt 01/21/04 - A SONIC CORP. *SONC* 835451105 11/28/03 1,235 1 Elect Directors For For Mgmt 1.1 Elect Director J. Clifford Hudson --- For NO CHANGE IN VOTE 1.2 Elect Director Robert M. Rosenberg --- For NO CHANGE IN VOTE 1.3 Elect Director Federico F. Pena --- For NO CHANGE IN VOTE 2 Other Business For Against Mgmt VOTE CHANGED TO "AGAINST" PER PROXY POLICY 05/05/04 - A SOUTHWEST BANCORPORATION OF TEXAS, 84476R109 03/25/04 1,050 INC. *SWBT* 1 Elect Directors For For Mgmt 2 Approve Deferred Compensation Plan For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Ratify Auditors For For Mgmt 05/12/04 - A ST. JUDE MEDICAL, INC. *STJ* 790849103 03/15/04 1,500 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Increase Authorized Common Stock For For Mgmt 5 Limit Executive Compensation Against Against ShrHoldr 06/17/04 - A STAPLES, INC. *SPLS* 855030102 04/19/04 6,850 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 21 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Amend Employee Stock Purchase Plan For For Mgmt 5 Ratify Auditors For For Mgmt 6 Submit Shareholder Rights Plan (Poison Against Against ShrHoldr Pill) to Shareholder Vote 7 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 8 Limit Executive Compensation Against Against ShrHoldr 9 Prohibit Auditor from Providing Non-Audit Against Against ShrHoldr Services 03/30/04 - A STARBUCKS CORP. *SBUX* 855244109 01/26/04 1,690 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/20/04 - A STORAGE TECHNOLOGY CORP. *STK* 862111200 04/02/04 1,000 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Provide for Cumulative Voting Against For ShrHoldr 05/14/04 - A SUNGARD DATA SYSTEMS INC. *SDS* 867363103 03/15/04 1,700 1 Elect Directors For Split Mgmt 1.1 Elect Director Gregory S. Bentley --- Withhold 1.2 Elect Director Michael C. Brooks --- For 1.3 Elect Director Cristobal Conde --- For 1.4 Elect Director Ramon de Oliveira --- For 1.5 Elect Director Henry C. Duques --- For 1.6 Elect Director Albert A. Eisenstat --- For 1.7 Elect Director Bernard Goldstein --- For 1.8 Elect Director Janet Brutschea Haugen --- For 1.9 Elect Director James L. Mann --- For 1.10 Elect Director Malcolm I. Ruddock --- For 2 Ratify Auditors For For Mgmt 08/21/03 - A SYMANTEC CORP. *SYMC* 871503108 07/08/03 900 1 Elect Directors For For Mgmt 1.1 Elect Director Tania Amochaev --- For - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 22 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ WE RECOMMEND A VOTE FOR THE DIRECTORS. 1.2 Elect Director William Coleman --- For 1.3 Elect Director Dr. Per-Kristian Halvorsen --- For 1.4 Elect Director David Mahoney --- For 1.5 Elect Director Robert S. Miller --- For 1.6 Elect Director Bill Owens --- For 1.7 Elect Director George Reyes --- For 1.8 Elect Director Daniel H. Schulman --- For 1.9 Elect Director John W. Thompson --- For 2 Increase Authorized Common Stock For For Mgmt 3 Amend Stock Option Plan For Against Mgmt VOTE RECOMMENDATION WE COMMEND THE COMPANY FOR EXPRESSLY FORBIDDING THE REPRICING OF STOCK OPTIONS UNDER THE PLAN. HOWEVER, THE TOTAL COST OF THE COMPANY'S PLANS OF 14.01 PERCENT IS ABOVE THE ALLOWABLE CAP FOR THIS COMPANY OF 12.88 PERCENT. 4 Approve Executive Incentive Bonus Plan For For Mgmt THE PERFORMANCE MEASURES INCLUDED UNDER THE PLAN ARE APPROPRIATE FOR THE COMPANY GIVEN ITS LINE OF BUSINESS, LONG-TERM STRATEGIC OBJECTIVES, AND INDUSTRY-SPECIFIC MEASURES FOR ASSESSING MARKET COMPETITIVENESS. ADDITIONALLY, THE PLAN IS ADMINISTERED BY A COMMITTEE OF INDEPENDENT OUTSIDERS WHO MUST CERTIFY ATTAINMENT OF THESE OBJECTIVE, MEASURABLE PERFORMANCE GOALS BEFORE CASH AWARDS ARE PAID TO PARTICIPANTS. MOREOVER, PRESERVATION OF THE FULL DEDUCTIBILITY OF ALL COMPENSATION PAID REDUCES THE COMPANY'S CORPORATE TAX OBLIGATION. 5 Ratify Auditors For For Mgmt 04/08/04 - A T. ROWE PRICE GROUP, INC. *TROW* 74144T108 02/06/04 2,050 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Other Business For Against Mgmt 05/14/04 - A TEKELEC *TKLC* 879101103 03/22/04 1,700 1 Elect Directors For Split Mgmt 1.1 Elect Director Robert V. Adams --- For - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 23 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.2 Elect Director Jean-Claude Asscher --- Withhold 1.3 Elect Director Daniel L. Brenner --- Withhold 1.4 Elect Director Martin A. Kaplan --- Withhold 1.5 Elect Director Frederick M. Lax --- Withhold 1.6 Elect Director Jon F. Rager --- Withhold 2 Amend Stock Option Plan For Against Mgmt 3 Amend Omnibus Stock Plan For Against Mgmt 4 Amend Non-Employee Director Stock Option For Against Mgmt Plan 5 Ratify Auditors For For Mgmt 03/31/04 - A THE BEAR STEARNS COMPANIES INC. *BSC* 073902108 02/19/04 350 1 Elect Directors For For Mgmt 2 Amend the Capital Accumulation Plan for For Against Mgmt Senior Managing Directors 3 Amend Stock Option Plan For Against Mgmt 4 Approve Restricted Stock Plan For Against Mgmt 5 Ratify Auditors For For Mgmt 05/18/04 - A THE CHEESECAKE FACTORY, INC. *CAKE* 163072101 03/31/04 1,050 1 Elect Directors For Withhold Mgmt 2 Amend Stock Option Plan For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Amend Non-Employee Director Stock Option For For Mgmt Plan 03/23/04 - A THE COOPER COMPANIES, INC. *COO* 216648402 02/03/04 1,200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 06/30/04 - A THE MEN'S WEARHOUSE, INC. *MW* 587118100 05/12/04 2,000 1 Elect Directors For Split Mgmt 1.1 Elect Director George Zimmer --- For 1.2 Elect Director David H. Edwab --- For 1.3 Elect Director Rinaldo S. Brutoco --- For 1.4 Elect Director Michael L. Ray, Ph.D. --- For - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 24 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.5 Elect Director Sheldon I. Stein --- Withhold 1.6 Elect Director Kathleen Mason --- For 1.7 Elect Director Deepak Chopra, M.D. --- For 1.8 Elect Director William B. Sechrest --- For 2 Approve Omnibus Stock Plan For For Mgmt 3 Amend Stock Option Plan For For Mgmt 4 Amend Non-Employee Director Stock Option For For Mgmt Plan 5 Implement ILO Based Code of Conduct Against Abstain ShrHoldr 6 Require Two-Thirds Majority of Independent Against Against ShrHoldr Directors on Board 06/02/04 - A THE PEP BOYS - MANNY, MOE & JACK 713278109 04/02/04 900 *PBY* 1 Elect Directors For Split Mgmt 1.1 Elect Director Benjamin Strauss --- Withhold 1.2 Elect Director Bernard J. Korman --- Withhold 1.3 Elect Director J. Richard Leaman, Jr. --- Withhold 1.4 Elect Director Malcolmn D. Pryor --- Withhold 1.5 Elect Director Peter A. Bassi --- Withhold 1.6 Elect Director Jane Scaccetti --- Withhold 1.7 Elect Director John T. Sweetwood --- Withhold 1.8 Elect Director William Leonard --- Withhold 1.9 Elect Director Lawrence N. Stevenson --- For 1.10 Elect Director M. Shan Atkins --- For 2 Ratify Auditors For For Mgmt 3 Amend Executive Incentive Bonus Plan For For Mgmt 4 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 02/25/04 - A THE VALSPAR CORP. *VAL* 920355104 12/31/03 1,050 1 Elect Directors For For Mgmt 2 Approve/Amend Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 25 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/20/04 - A TIFFANY & CO. *TIF* 886547108 03/25/04 1,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/15/04 - A TRACTOR SUPPLY CO. *TSCO* 892356106 03/02/04 2,700 1 Elect Directors For Split Mgmt 1.1 Elect Director James F. Wright --- For 1.2 Elect Director Gerard E. Jones --- Withhold 1.3 Elect Director Edna K. Morris --- For 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 05/06/04 - A UNITED ONLINE, INC. *UNTD* 911268100 03/29/04 2,700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Other Business For Against Mgmt 05/12/04 - A UNIVISION COMMUNICATIONS INC. *UVN* 914906102 03/15/04 2,385 1 Elect Directors For Split Mgmt 1.1 Elect Director A. Jerrold Perenchio --- Withhold 1.2 Elect Director Fernando Aguirre --- For 1.3 Elect Director Harold Gaba --- For 1.4 Elect Director Alan F. Horn --- For 1.5 Elect Director John G. Perenchio --- Withhold 1.6 Elect Director Ray Rodriguez --- Withhold 1.7 Elect Director McHenry T. Tichenor, Jr. --- Withhold 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 09/24/03 - S UTSTARCOM, INC. *UTSI* 918076100 08/15/03 2,370 1 Increase Authorized Common Stock For For Mgmt ISS VOTE REC. CHANGE. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 26 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF AIM AGGRESSIVE GROWTH FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/14/04 - A UTSTARCOM, INC. *UTSI* 918076100 03/29/04 970 1 Elect Directors For Split Mgmt 1.1 Elect Director Thomas J. Toy --- For 1.2 Elect Director Ying Wu --- Withhold 2 Ratify Auditors For For Mgmt 02/19/04 - A VARIAN MEDICAL SYSTEMS INC *VAR* 92220P105 12/22/03 880 1 Elect Directors For For Mgmt 2 Amend Executive Incentive Bonus Plan For For Mgmt 06/10/04 - S VARIAN MEDICAL SYSTEMS INC *VAR* 92220P105 04/12/04 580 1 Increase Authorized Common Stock For For Mgmt 05/04/04 - A WATERS CORP. *WAT* 941848103 03/15/04 1,300 1 Elect Directors For Split Mgmt 1.1 Elect Director Joshua Bekenstein --- For 1.2 Elect Director M.J. Berendt, Ph.D. --- For 1.3 Elect Director Douglas A. Berthiaume --- For 1.4 Elect Director Philip Caldwell --- For 1.5 Elect Director Edward Conard --- Withhold 1.6 Elect Director L.H. Glimcher, M.D. --- For 1.7 Elect Director William J. Miller --- For 1.8 Elect Director Thomas P. Salice --- Withhold 2 Ratify Auditors For For Mgmt 3 Other Business For Against Mgmt 05/19/04 - A WILLIAMS-SONOMA, INC. *WSM* 969904101 03/29/04 3,120 1 Elect Directors For For Mgmt 2 Amend Stock Option Plan For For Mgmt 3 Ratify Auditors For For Mgmt 06/03/04 - A ZEBRA TECHNOLOGIES CORP. *ZBRA* 989207105 04/08/04 100 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Ratify Auditors For For Mgmt 4 Adopt Charter Language on Board Diversity Against Abstain ShrHoldr 07/22/03 - S ZIMMER HOLDINGS INC *ZMH* 98956P102 06/16/03 1,400 1 Issue Shares in Connection with an For For Mgt Acquisition CONCLUSION: BASED ON THE FAIRNESS OPINION AND THE POTENTIAL STRATEGIC SYNERGIES, WE BELIEVE THE MERGER AGREEMENT WARRANTS SHAREHOLDER SUPPORT. 05/10/04 - A ZIMMER HOLDINGS INC *ZMH* 98956P102 03/15/04 1,550 1 Elect Directors For Withhold Mgmt 2 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 3 Ratify Auditors Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 27 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF GOLDMAN SACHS SHORT DURATION BOND FUND The registrant did not hold any portfolio securities with respect to which the registrant was entitled to vote during the period from July 1, 2003 through June 30, 2004. VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO HEALTH SCIENCES FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/23/04 - A ABBOTT LABORATORIES *ABT* 002824100 02/25/04 3,460 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Drug Pricing Against Against ShrHoldr 4 Report on Political Contributions/Activities Against Against ShrHoldr 5 Prohibit Awards to Executives Against Against ShrHoldr 6 Report on Operational Imact of HIV/AIDS, Against Against ShrHoldr TB, and Malaria Pandemic 04/23/04 - A ABBOTT LABORATORIES *ABT* 002824PPH 02/25/04 3,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Drug Pricing Against Against ShrHoldr 4 Report on Political Contributions/Activities Against Against ShrHoldr 5 Prohibit Awards to Executives Against Against ShrHoldr 6 Report on Operational Imact of HIV/AIDS, Against Against ShrHoldr TB, and Malaria Pandemic 03/22/04 - A ADVANCEPCS 00790K109 02/05/04 2,000 1 Approve Merger Agreement For For Mgmt 2 Elect Directors For Split Mgmt 2.1 Elect Director T. Danny Phillips --- Withhold 2.2 Elect Director Dr. George Poste --- For 2.3 Elect Director Jean-Pierre Millon --- Withhold 3 Approve Omnibus Stock Plan For For Mgmt 4 Amend Articles For For Mgmt 5 Ratify Auditors For For Mgmt 6 Adjourn Meeting For Against Mgmt 04/30/04 - A AETNA INC. *AET* 00817Y108 02/27/04 3,500 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Provide for Cumulative Voting Against For ShrHoldr 4 Limit Executive Compensation Against Against ShrHoldr 09/09/03 - A ** ALKERMES, INC. *ALKS* 01642TBBH 07/23/03 1,100 1 Elect Directors For For Mgmt 2 Amend Stock Option Plan For For Mgmt 3 Amend Non-Employee Director Stock Option For For Mgmt Plan - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 1 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO HEALTH SCIENCES FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/28/04 - A ALLERGAN, INC. *AGN* 018490102 03/08/04 4,300 1 Elect Directors For Split Mgmt 1.1 Elect Director Handel E. Evans --- For 1.2 Elect Director Michael R. Gallagher --- For 1.3 Elect Director Gavin S. Herbert --- Withhold 1.4 Elect Director Stephen J. Ryan --- For 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against For ShrHoldr 4 Separate Chairman and CEO Positions Against For ShrHoldr 05/13/04 - A AMGEN, INC. *AMGN* 031162100 03/19/04 2,300 1 Elect Directors For Split Mgmt 1.1 Elect Director Frank J. Biondi, Jr. --- For 1.2 Elect Director Jerry D. Choate --- Withhold 1.3 Elect Director Frank C. Herringer --- For 1.4 Elect Director Gilbert S. Omenn --- For 2 Ratify Auditors For For Mgmt 3 Prepare Glass Ceiling Report Against Against ShrHoldr 4 Expense Stock Options Against For ShrHoldr 05/17/04 - A ANTHEM INC. *ATH* 03674B104 03/19/04 2,700 1 Elect Directors For For Mgmt 06/28/04 - S ANTHEM INC. *ATH* 03674B104 05/10/04 2,300 1 Issue Shares in Connection with an For For Mgmt Acquisition 2 Change Company Name For For Mgmt 10/16/03 - A ** APPLERA CORP *ABI* 038020103 08/27/03 2,200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 10/23/03 - A ** BARR PHARMACEUTICALS INC *BRL* 068306109 09/02/03 1,600 1 Elect Directors For For Mgmt 2 Change State of Incorporation from New York For For Mgmt to Delaware 3 Increase Authorized Common Stock For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 2 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO HEALTH SCIENCES FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 11/12/03 - S ** BIOGEN IDEC INC *BIIB* 449370105 09/25/03 1,100 1 Approve Merger Agreement For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt 5 Adjourn Meeting For Against Mgmt 06/16/04 - A BIOGEN IDEC INC *BIIB* 09062X103 04/20/04 3,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 11/12/03 - S ** BIOGEN, INC. 090597105 09/25/03 1,100 1 Approve Merger Agreement For For Mgmt 2 Adjourn Meeting For Against Mgmt 09/27/03 - A ** BIOMET, INC. *BMET* 090613100 08/07/03 3,900 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 10/06/03 - S ** BOSTON SCIENTIFIC CORP. *BSX* 101137107 08/27/03 2,400 1 Increase Authorized Common Stock For For Mgmt 05/11/04 - A BOSTON SCIENTIFIC CORP. *BSX* 101137107 03/19/04 4,900 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/04/04 - A BRISTOL-MYERS SQUIBB CO. *BMY* 110122108 03/08/04 8,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Political Contributions/Activities Against Against ShrHoldr 4 Cease Political Contributions/Activities Against Against ShrHoldr 5 Separate Chairman and CEO Positions Against For ShrHoldr 6 Report on Operational Impact of HIV/AIDS, Against Against ShrHoldr TB, and Malaria Pandemic 7 Require Affirmative Vote of a Majority of Against Against ShrHoldr the Shares to Elect Directors - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 3 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO HEALTH SCIENCES FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 03/22/04 - S CAREMARK RX, INC. *CMX* 141705103 02/05/04 4,200 1 Increase Authorized Common Stock For For Mgmt 2 Approve Issuance of Stock in Connection For For Mgmt with Merger Agreement 3 Increase Authorized Preferred Stock For Against Mgmt 4 Approve Omnibus Stock Plan For For Mgmt 5 Allow Postponement or Adjournment of For Against Mgmt Special Meeting 05/04/04 - A CAREMARK RX, INC. *CMX* 141705103 04/01/04 8,370 1 Elect Directors For For Mgmt 05/25/04 - A COMMUNITY HEALTH SYSTEMS, INC. *CYH* 203668108 03/31/04 2,700 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Separate Chairman and CEO Positions Against For ShrHoldr 06/03/04 - A COVENTRY HEALTH CARE INC. *CVH* 222862104 04/05/04 3,950 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 06/17/04 - A ELAN CORPORATION PLC 284131208 05/11/04 5,500 MEETING FOR HOLDERS OF ADRS 1 TO RECEIVE AND CONSIDER THE FINANCIAL For For Mgmt STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2003 TOGETHER WITH THE REPORTS OF THE DIRECTORS AND AUDITORS THEREON. 2 TO RE-ELECT MR. BRENDAN BOUSHEL WHO RETIRES For For Mgmt FROM THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY. 3 TO RE-ELECT MR. JOHN GROOM WHO RETIRES FROM For For Mgmt THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY. 4 TO RE-ELECT MR. KYRAN MCLAUGHLIN WHO For For Mgmt RETIRES FROM THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 4 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO HEALTH SCIENCES FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 5 TO RE-ELECT DR. DENNIS SELKOE WHO RETIRES For For Mgmt FROM THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY. 6 TO RE-ELECT MR. DANIEL TULLY WHO RETIRES For For Mgmt FROM THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY. 7 TO AUTHORISE THE DIRECTORS TO FIX THE For For Mgmt REMUNERATION OF THE AUDITORS. 8 THAT THE BOARD OF DIRECTORS BE AUTHORISED For Against Mgmt TO ISSUE SHARE OPTIONS TO NON-EXECUTIVE DIRECTORS IN ACCORDANCE WITH THE TERMS OF THE ELAN CORPORATION, PLC 1996 CONSULTANT OPTION PLAN. 9 THAT THE ELAN CORPORATION, PLC 2004 For Against Mgmt RESTRICTED STOCK PLAN ( THE RSU PLAN ) BE APPROVED AND ADOPTED. 10 THAT THE ELAN CORPORATION, PLC EMPLOYEE For For Mgmt EQUITY PURCHASE PLAN ( THE ESPP ) BE APPROVED AND ADOPTED. 11 THAT THE DIRECTORS BE AND ARE HEREBY For For Mgmt GENERALLY AND UNCONDITIONALLY AUTHORISED TO ALLOT AND ISSUE ALL RELEVANT SECURITIES OF THE COMPANY. 12 THAT THE AUTHORISED SHARE CAPITAL OF THE For For Mgmt COMPANY BE INCREASED FROM 30,002,500 TO 33,502,500. 13 THAT, SUBJECT TO THE PASSING OF RESOLUTION For For Mgmt 12 IN THE NOTICE OF THIS MEETING, THE ARTICLES OF ASSOCIATION BE AMENDED. 14 THAT, SUBJECT TO THE PASSING OF RESOLUTION For For Mgmt 11 IN THE NOTICE OF THE MEETING, THE DIRECTORS BE AND ARE HEREBY EMPOWERED TO ALLOT SECURITIES FOR CASH. 15 THAT THE COMPANY AND/OR ANY SUBSIDIARY OF For For Mgmt THE COMPANY BE AND IS HEREBY GENERALLY AUTHORIZED TO MAKE MARKET PURCHASES OF SHARES OF ANY CLASS OF THE COMPANY. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 5 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO HEALTH SCIENCES FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 16 THAT THE RE-ISSUE PRICE RANGE AT WHICH ANY For For Mgmt TREASURY SHARES FOR THE TIME BEING HELD BY THE COMPANY MAY BE RE-ISSUED OFF-MARKET SHALL BE THE MAXIMUM PRICE EQUAL TO 120 PER CENT OF THE RELEVANT PRICE; AND THE MINIMUM PRICE EQUAL TO 95 PER CENT OF THE RELEVA 04/19/04 - A ELI LILLY AND CO. *LLY* 532457108 02/13/04 1,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Limit Executive Compensation Against Against ShrHoldr 5 Report on Drug Pricing Against Against ShrHoldr 08/11/03 - A ** FOREST LABORATORIES, INC. *FRX* 345838106 06/20/03 7,320 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For Against Mgmt 3 Ratify Auditors For For Mgmt 04/16/04 - WC GENENTECH, INC. *DNA* 368710406 02/17/04 800 1 Amend Articles/Bylaws/Charter-Non-Routine For For Mgmt 2 Elect Directors For Split Mgmt 2.1 Elect Director Herbert W. Boyer --- Withhold 2.2 Elect Director Arthur D. Levinson --- Withhold 2.3 Elect Director Mark Richmond --- For 2.4 Elect Director Charles A. Sanders --- For 2.5 Elect Director William M. Burns --- Withhold 2.6 Elect Director Erich Hunziker --- Withhold 2.7 Elect Director Jonathan K.C. Knowles --- Withhold 3 Elect Director M. Burns For Withhold Mgmt 4 Elect Director Erich Hunziker For Withhold Mgmt 5 Elect Director Jonathan K.C. Knowles For Withhold Mgmt 6 Increase Authorized Common Stock For For Mgmt 7 Approve Omnibus Stock Plan For Against Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 6 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO HEALTH SCIENCES FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 8 Ratify Auditors For For Mgmt 05/27/04 - A GENZYME CORP. *GENZ* 372917104 03/31/04 1,400 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Approve Stock Option Plan For For Mgmt 4 Amend Non-Employee Director Stock Option For For Mgmt Plan 5 Increase Authorized Preferred Stock For Against Mgmt 6 Ratify Auditors For For Mgmt 7 Limit Awards to Executives Against Against ShrHoldr 05/18/04 - A GUIDANT CORP. *GDT* 401698105 03/11/04 2,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against For ShrHoldr 02/17/04 - A HEALTH MANAGEMENT ASSOCIATES, INC. 421933102 12/19/03 4,700 *HMA* 1 Elect Directors For For Mgmt 04/29/04 - A INVITROGEN CORP. *IVGN* 46185R100 02/27/04 1,500 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Amend Employee Stock Purchase Plan For For Mgmt 04/22/04 - A JOHNSON & JOHNSON *JNJ* 478160104 02/24/04 4,140 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Cease Charitable Contributions Against Against ShrHoldr 04/21/04 - A MEDCO HEALTH SOLUTIONS INC *MHS* 58405U102 03/10/04 6,089 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 08/28/03 - A ** MEDTRONIC, INC. *MDT* 585055106 07/03/03 1,300 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 7 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO HEALTH SCIENCES FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/27/04 - A MERCK & CO., INC. *MRK* 589331107 02/24/04 7,100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Prohibit Awards to Executives Against Against ShrHoldr 5 Develop Ethical Criteria for Patent Against Against ShrHoldr Extension 6 Link Executive Compensation to Social Issues Against Against ShrHoldr 7 Report on Political Contributions Against Against ShrHoldr 8 Report on Operational Impact of HIV/AIDS, Against Against ShrHoldr TB, and Malaria Pandemic 02/10/04 - S MID ATLANTIC MEDICAL SERVICES, INC. 59523C107 01/15/04 1,100 1 Approve Merger Agreement For For Mgmt 2 Adjourn Meeting For Against Mgmt 07/25/03 - A ** MYLAN LABORATORIES INC. *MYL* 628530107 05/23/03 2,500 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 02/24/04 - A NOVARTIS AG 66987V109 01/30/04 5,537 MEETING FOR HOLDERS OF ADRS 1 APPROVAL OF THE ANNUAL REPORT, THE For For Mgmt FINANCIAL STATEMENTS OF NOVARTIS AG AND THE GROUP CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR 2003. 2 APPROVAL OF THE ACTIVITIES OF THE BOARD OF For For Mgmt DIRECTORS. 3 APPROPRIATION OF AVAILABLE EARNINGS OF For For Mgmt NOVARTIS AG AS PER BALANCE SHEET AND DECLARATION OF DIVIDEND. 4 CONVERSION OF GENERAL RESERVES INTO FREE For For Mgmt RESERVES. 5 REDUCTION OF SHARE CAPITAL. For For Mgmt 6 FURTHER SHARE REPURCHASE PROGRAM. For For Mgmt 7 AMENDMENT TO THE ARTICLES OF INCORPORATION. For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 8 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO HEALTH SCIENCES FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 8 ELECTION TO THE BOARD OF DIRECTORS. For For Mgmt RE-ELECTION OF PROF. DR. HELMUT SIHLER FOR A THREE-YEAR TERM. 9 ELECTION TO THE BOARD OF DIRECTORS. For For Mgmt RE-ELECTION OF MR. HANS-JORG RUDLOFF FOR A THREE-YEAR TERM. 10 ELECTION TO THE BOARD OF DIRECTORS. For For Mgmt RE-ELECTION OF DR. DANIEL VASELLA FOR A THREE-YEAR TERM. 11 Ratify Auditors For For Mgmt 05/26/04 - A PAR PHARMACEUTICAL COS INC *PRX* 717125108 04/08/04 1,100 1 Elect Directors For For Mgmt 2 Change Company Name For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Amend Non-Employee Director Stock Option For For Mgmt Plan 5 Approve Executive Incentive Bonus Plan For For Mgmt 04/22/04 - A PFIZER INC. *PFE* 717081103 02/27/04 8,000 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Report on Operational Impact of HIV/AIDS, Against Against ShrHoldr TB, and Malaria Pandemic 5 Cease Political Contributions/Activities Against Against ShrHoldr 6 Report on Political Contributions/Activities Against Against ShrHoldr 7 Establish Term Limits for Directors Against Against ShrHoldr 8 Report on Drug Pricing Against Against ShrHoldr 9 Limit Awards to Executives Against Against ShrHoldr 10 Amend Animal Testing Policy Against Against ShrHoldr 04/27/04 - A SCHERING-PLOUGH CORP. *SGP* 806605101 03/05/04 3,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 9 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO HEALTH SCIENCES FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 06/16/04 - A SHIRE PHARMACEUTICALS GROUP PLC 82481R106 05/06/04 7,500 MEETING FOR HOLDERS OF ADRS 1 TO RECEIVE AND CONSIDER THE DIRECTORS For For Mgmt REPORT AND ACCOUNTS FOR THE YEAR ENDED DECEMBER 31, 2003. 2 TO RE-ELECT DR JAMES HENRY CAVANAUGH AS A For For Mgmt DIRECTOR. 3 TO RE-ELECT DR BARRY JOHN PRICE AS A For For Mgmt DIRECTOR. 4 TO ELECT MR ROBIN WILLIAM TURNBULL BUCHANAN For For Mgmt AS A DIRECTOR. 5 TO ELECT MR DAVID JOHN KAPPLER AS A For For Mgmt DIRECTOR. 6 Ratify Auditors For For Mgmt 7 TO APPROVE THE DIRECTORS REMUNERATION For For Mgmt REPORT. 8 TO AUTHORIZE THE ALLOTMENT OF SHARES. For For Mgmt 9 TO AUTHORIZE THE DISAPPLICATION OF For For Mgmt PRE-EMPTION RIGHTS. 10 TO AUTHORIZE MARKET PURCHASES. For For Mgmt 11 TO AUTHORIZE DONATIONS TO EU POLITICAL For For Mgmt ORGANIZATIONS AND EU POLITICAL EXPENDITURE. 05/12/04 - A ST. JUDE MEDICAL, INC. *STJ* 790849103 03/15/04 2,200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Increase Authorized Common Stock For For Mgmt 5 Limit Executive Compensation Against Against ShrHoldr 10/27/03 - S ** TEVA PHARMACEUTICAL INDUSTRIES 881624209 09/18/03 4,120 1 Elect G. Shalev as an External Director For For Mgmt 2 Approve Increase in Remuneration of For For Mgmt Directors other than the Chairman 05/20/04 - A TEVA PHARMACEUTICAL INDUSTRIES 881624209 04/15/04 2,820 MEETING FOR HOLDERS OF ADRS - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 10 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO HEALTH SCIENCES FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1 TO RECEIVE AND DISCUSS THE COMPANY S For For Mgmt CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2003 AND THE CONSOLIDATED STATEMENTS. 2 TO APPROVE THE BOARD OF DIRECTORS For Against Mgmt RECOMMENDATION THAT THE CASH DIVIDEND FOR THE YEAR ENDED DECEMBER 31, 2003, WHICH WAS PAID IN FOUR INSTALLMENTS AND AGGREGATED NIS 1.44 (APPROXIMATELY US$0.322) PER ORDINARY SHARE, BE DECLARED FINAL. 3 TO ELECT ABRAHAM E. COHEN TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 4 TO ELECT LESLIE DAN TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 5 TO ELECT PROF. MEIR HETH TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 6 TO ELECT PROF. MOSHE MANY TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 7 TO ELECT DOV SHAFIR TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 8 TO APPROVE THE PURCHASE OF DIRECTOR S AND For Against Mgmt OFFICER S LIABILITY INSURANCE FOR THE DIRECTORS AND OFFICERS OF THE COMPANY. 9 Ratify Auditors For For Mgmt 05/18/04 - A THERMO ELECTRON CORP. *TMO* 883556102 03/26/04 2,700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Limit Awards to Executives Against Against ShrHoldr 05/25/04 - A TRIAD HOSPITALS, INC. *TRI* 89579K109 04/09/04 1,200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 03/25/04 - A TYCO INTERNATIONAL LTD. *TYC* 902124106 03/25/04 2,800 MEETING FOR HOLDERS OF ADRS 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 ADOPTION OF THE AMENDED AND For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 11 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO HEALTH SCIENCES FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ RESTATED BYE-LAWS. 4 APPROVAL OF TYCO 2004 STOCK AND INCENTIVE For For Mgmt PLAN. 5 SHAREHOLDER PROPOSAL REGARDING For For ShrHoldr ENVIRONMENTAL REPORTING. 6 SHAREHOLDER PROPOSAL TO CHANGE TYCO S Against Against ShrHoldr JURISDICTION OF INCORPORATION FROM BERMUDA TO A U.S. STATE. 7 SHAREHOLDER PROPOSAL ON COMMON SENSE Against Against ShrHoldr EXECUTIVE COMPENSATION. 05/12/04 - A UNITEDHEALTH GROUP INCORPORATED *UNH* 91324P102 03/15/04 4,702 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against For ShrHoldr 4 Limit Awards to Executives Against Against ShrHoldr 05/25/04 - A VALEANT PHARMACEUTICALS INTL. *VRX* 91911X104 04/14/04 3,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 02/19/04 - A VARIAN MEDICAL SYSTEMS INC *VAR* 92220P105 12/22/03 620 1 Elect Directors For For Mgmt 2 Amend Executive Incentive Bonus Plan For For Mgmt 06/28/04 - S WELLPOINT HEALTH NETWORKS INC. *WLP* 94973H108 05/10/04 1,100 1 Approve Merger Agreement For For Mgmt 04/22/04 - A WYETH *WYE* 983024100 03/12/04 4,100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Drug Pricing Against Against ShrHoldr 4 Amend Animal Testing Policy Against Against ShrHoldr 07/22/03 - S ** ZIMMER HOLDINGS INC *ZMH* 98956P102 06/16/03 4,360 1 Issue Shares in Connection with an For For Mgmt Acquisition - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 12 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO HEALTH SCIENCES FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/10/04 - A ZIMMER HOLDINGS INC *ZMH* 98956P102 03/15/04 5,160 1 Elect Directors For Withhold Mgmt 2 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 3 Ratify Auditors Against For ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 13 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/28/04 - A ADOBE SYSTEMS INC. *ADBE* 00724F101 03/03/04 400 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Expense Stock Options Against For ShrHoldr 4 Adopt a Plocy that will Committ Executives Against For ShrHoldr to Hold a Significant Percentage of their Shares 5 Ratify Auditors For For Mgmt 04/15/04 - A ADTRAN, INC. *ADTN* 00738A106 03/01/04 1,010 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/20/04 - A ADVANCED FIBRE COMMUNICATIONS, INC. 00754A105 03/23/04 1,300 *AFCI* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 02/19/04 - A AGERE SYSTEMS INC *AGR.A* 00845V100 12/22/03 4,100 1 Elect Directors For For Mgmt 06/04/04 - A ALCATEL (FORMERLY ALCATEL ALSTHOM) 013904305 04/28/04 2,800 MEETING FOR HOLDERS OF ADRS 1 APPROVAL OF THE PARENT COMPANY FINANCIAL For For Mgmt STATEMENTS FOR THE FISCAL YEAR ENDED DECEMBER 31, 2003. 2 APPROVAL OF THE CONSOLIDATED FINANCIAL For For Mgmt STATEMENTS FOR THE FISCAL YEAR ENDED DECEMBER 31, 2003. 3 RESULT FOR THE FISCAL YEAR-APPROPRIATION. For For Mgmt 4 APPROVAL OF REGULATED AGREEMENTS. For For Mgmt 5 RENEWAL OF THE TERM OF MR. JOZEF CORNU AS For For Mgmt DIRECTOR. 6 AUTHORIZATION TO BE GIVEN TO THE BOARD OF For Against Mgmt DIRECTORS TO ISSUE DEBT SECURITIES, AND PARTICULARLY BONDS. 7 AUTHORIZATION TO BE GIVEN TO THE BOARD OF For For Mgmt DIRECTORS TO ALLOW THE COMPANY TO PURCHASE AND SELL ITS OWN - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 1 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ SHARES. 8 AUTHORIZATION TO BE GIVEN TO THE BOARD OF For For Mgmt DIRECTORS TO REDUCE THE CAPITAL OF THE COMPANY. 9 DELEGATION OF POWER TO THE BOARD OF For For Mgmt DIRECTORS TO INCREASE THE CAPITAL OF THE COMPANY. 10 DELEGATION OF POWER TO THE BOARD OF For For Mgmt DIRECTORS TO INCREASE THE CAPITAL OF THE COMPANY, WITH CANCELLATION OF PREFERENTIAL SUBSCRIPTION RIGHTS. 11 LIMITATION OF THE OVERALL AMOUNT OF ISSUES For For Mgmt TO BE MADE PURSUANT TO THE 9TH AND 10TH RESOLUTIONS. 12 DELEGATION OF POWER TO THE BOARD OF For For Mgmt DIRECTORS TO INCREASE THE CAPITAL OF THE COMPANY. 13 POWERS TO IMPLEMENT THE DECISIONS OF THE For For Mgmt SHAREHOLDERS MEETING AND TO CARRY OUT THE CORRESPONDING FORMALITIES. 14 TO TRANSACT SUCH OTHER ORDINARY BUSINESS OF For Against Mgmt AN ANNUAL GENERAL MEETING AS MAY PROPERLY BE RAISED. 05/11/04 - A ALTERA CORP. *ALTR* 021441100 03/16/04 2,700 1 Elect Directors For For Mgmt 2 Amend Stock Option Plan For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Ratify Auditors For For Mgmt 5 Approve Option Expensing Against For ShrHoldr 05/26/04 - A AMPHENOL CORP. *APH* 032095101 03/29/04 800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Approve Non-Employee Director Stock Option For For Mgmt Plan 5 Approve Executive Incentive Bonus Plan For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 2 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 03/09/04 - A ANALOG DEVICES, INC. *ADI* 032654105 01/16/04 1,100 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Ratify Auditors For For Mgmt 04/22/04 - A APPLE COMPUTER, INC. *AAPL* 037833100 02/24/04 2,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Limit Executive Compensation Against Against ShrHoldr 03/24/04 - A APPLIED MATERIALS, INC. *AMAT* 038222105 01/30/04 4,000 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 08/27/03 - A ** APPLIED MICRO CIRCUITS CORP. *AMCC* 03822W109 07/01/03 3,800 1 Elect Directors For Split Mgmt 1.1 Elect Director David M. Rickey --- For 1.2 Elect Director Roger A. Smullen, Sr. --- For 1.3 Elect Director Cesar Cesaratto --- For 1.4 Elect Director Franklin P. Johnson, Jr. --- For 1.5 Elect Director Kevin N. Kalkhoven --- Withhold 1.6 Elect Director L. Wayne Price --- For 1.7 Elect Director Douglas C. Spreng --- For 1.8 Elect Director Arthur B. Stabenow --- For 1.9 Elect Director Harvey P. White --- For 2 Ratify Auditors For For Mgmt 05/26/04 - A ARRIS GROUP INC *ARRS* 04269Q100 04/12/04 3,200 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 05/27/04 - A ARROW ELECTRONICS, INC. *ARW* 042735100 03/29/04 600 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Other Business For Against Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 3 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/29/04 - A AU OPTRONICS CORP 002255107 03/01/04 2,100 MEETING FOR HOLDERS OF ADRS 1 ACCEPTANCE OF THE 2003 BUSINESS REPORT AND For For Mgmt FINANCIAL STATEMENTS, AS SET FORTH IN THE COMPANY S NOTICE OF MEETING. 2 APPROVAL OF THE REVISIONS TO THE ARTICLES For For Mgmt OF INCORPORATION, AS SET FORTH IN THE COMPANY S NOTICE OF MEETING. 3 Elect Directors For For Mgmt 4 APPROVAL OF THE PROPOSAL FOR DISTRIBUTION For For Mgmt OF 2003 PROFITS, AS SET FORTH IN THE COMPANY S NOTICE OF MEETING. 5 APPROVAL OF THE CAPITALIZATION OF 2003 For For Mgmt DIVIDENDS AND EMPLOYEE STOCK BONUS, AS SET FORTH IN THE COMPANY S NOTICE OF MEETING. 6 APPROVAL TO HAVE A NEW RIGHTS ISSUE TO For For Mgmt SPONSOR DR OFFERING, AS SET FORTH IN THE COMPANY S NOTICE OF MEETING. 7 APPROVAL TO RELEASE THE DIRECTORS FROM For For Mgmt NON-COMPETITION RESTRICTIONS, AS SET FORTH IN THE COMPANY S NOTICE OF MEETING. 02/26/04 - A AVAYA INC *AV* 053499109 12/31/03 3,000 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Limit Awards to Executives Against Against ShrHoldr 07/11/03 - A ** BEA SYSTEMS, INC. *BEAS* 073325102 05/27/03 6,000 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 06/11/04 - A BEA SYSTEMS, INC. *BEAS* 073325102 04/30/04 5,800 1 Elect Directors For Split Mgmt 1.1 Elect Director Dean O. Morton --- - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 4 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Withhold 1.2 Elect Director George Reyes --- For 2 Ratify Auditors For Against Mgmt 06/16/04 - A BIOGEN IDEC INC *BIIB* 09062X103 04/20/04 1,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 08/21/03 - A ** BMC SOFTWARE, INC. *BMC* 055921100 07/03/03 1,500 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 10/06/03 - S ** BOSTON SCIENTIFIC CORP. *BSX* 101137107 08/27/03 300 1 Increase Authorized Common Stock For For Mgmt 05/11/04 - A BOSTON SCIENTIFIC CORP. *BSX* 101137107 03/19/04 1,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/29/04 - A BROADCOM CORP. *BRCM* 111320107 03/05/04 2,400 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For Against Mgmt 3 Ratify Auditors For For Mgmt 12/11/03 - S ** BUSINESS OBJECTS S.A. 12328X107 None 1,000 SPECIAL MEETING AGENDA 1 Approve Acquisition of Crystal Decsions For For Mgmt Inc. and Approve Terms of Merger Agreement 2 Approve Issuance of Up to 37 Million Shares For For Mgmt in Connection with Acquisition, and Amend Articles Accordingly 3 Approve Issuance of Warrants to Subscribe For For Mgmt to Up to 15,000 Shares to David J. Roux 4 Authorize Issuance of Up to 250,000 Shares For For Mgmt Reserved for Business Objects SA Employee Benefits Trust for Use in 1995 International Employee Stock Purchase Plan 5 Approve Issuance of Up to 50,000 Shares For For Mgmt Reserved for Employees - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 5 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Participating in Savings-Related Share Purchase Plan 6 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 1.3 Million 7 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 1.3 Million 8 Amend 2001 Executive Stock Option Plan Re: For Against Mgmt Number of Available Shares 9 Elect David J. Roux as Director For For Mgmt 10 Approve Increase in Director Remuneration For For Mgmt to Aggregate Amount of EUR 350,000 11 Authorize Filing of Required For For Mgmt Documents/Other Formalities 05/20/04 - A CDW CORP. *CDWC* 12512N105 04/01/04 700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Non-Employee Director Omnibus Stock For For Mgmt Plan 04/29/04 - A CHARTERED SEMICONDUCTOR MANUF. 16133R106 03/03/04 2,600 MEETING FOR HOLDERS OF ADRS 1 APPROVAL TO ADOPT THE AUDITED ACCOUNTS OF For For Mgmt THE COMPANY, INCLUDING THE REPORTS OF THE DIRECTORS AND AUDITORS 2 APPROVAL TO RE-ELECT MR. ANDRE BORREL AS A For For Mgmt DIRECTOR 3 APPROVAL TO RE-ELECT MR. TAY SIEW CHOON AS For For Mgmt A DIRECTOR 4 APPROVAL TO RE-ELECT MR. PETER SEAH LIM For For Mgmt HUAT AS A DIRECTOR 5 APPROVAL TO RE-ELECT MR. PHILIP TAN YUEN For For Mgmt FAH AS A DIRECTOR 6 APPROVAL TO RE-APPOINT MR. CHARLES E. For For Mgmt THOMPSON AS A DIRECTOR 7 APPROVAL TO RE-APPOINT MR. ROBERT E. For For Mgmt LABLANC AS A DIRECTOR 8 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 6 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 9 APPROVAL OF THE DIRECTORS FEES OF For For Mgmt US$427,125 FOR THE YEAR ENDED DECEMBER 31, 2003 10 APPROVAL OF THE COMPANY S EMPLOYEE SHARE For For Mgmt PURCHASE PLAN 2004 11 APPROVAL OF THE COMPANY S EMPLOYEE SHARE For For Mgmt PURCHASE PLAN 2004 FOR THE EMPLOYEES OF SILICON MANUFACTURING PARTNERS PTE LTD 12 APPROVAL TO AUTHORIZE THE DIRECTORS TO For For Mgmt ALLOT AND ISSUE SHARES PURSUANT TO SECTION 161 OF THE COMPANIES ACT 13 APPROVAL TO AUTHORIZE THE DIRECTORS TO For For Mgmt CREATE AND ISSUE SECURITIES AND TO ALLOT AND ISSUE SHARES 14 APPROVAL TO AUTHORIZE THE DIRECTORS TO For Against Mgmt OFFER AND GRANT OPTIONS AND TO ALLOT AND ISSUE ADDITIONAL SHARES 11/11/03 - A ** CISCO SYSTEMS, INC. *CSCO* 17275R102 09/12/03 13,000 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt SHAREHOLDER PROPOSALS 4 Report on Company Products Used by the Against Against ShrHoldr Government to Monitor the Internet 5 Report on Pay Disparity Against Against ShrHoldr 05/26/04 - A COGNIZANT TECHNOLOGY SOLUTIONS CORP. 192446102 04/13/04 800 *CTSH* 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock and For For Mgmt Eliminate Class of Common Stock 3 Amend Omnibus Stock Plan For Against Mgmt 4 Approve Employee Stock Purchase Plan For For Mgmt 5 Ratify Auditors For For Mgmt 06/23/04 - A/S COGNOS INC. *CSN.* 19244C109 04/26/04 700 1 Elect Directors For For Mgmt 2 Ratify Ernst & Young LLP as Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 7 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 3 Amend 2003 - 2008 Stock Option Plan For For Mgmt 4 Eliminate Class of Preferred Stock For For Mgmt 08/27/03 - A ** COMPUTER ASSOCIATES INTERNATIONAL, 204912109 07/02/03 1,500 INC. *CA* 1 Elect Directors For For Mgmt 2 Approve Non-Employee Director Omnibus Stock For For Mgmt Plan 3 Ratify Auditors For For Mgmt 06/15/04 - A COMVERSE TECHNOLOGY, INC. *CMVT* 205862402 04/27/04 4,200 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 04/29/04 - A CORNING INC. *GLW* 219350105 03/01/04 5,500 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Submit Severance Agreement Against For ShrHoldr (Change-in-Control) to Shareholder Vote 05/18/04 - A COX COMMUNICATIONS, INC. *COX* 224044107 03/19/04 1,400 1 Elect Directors For Split Mgmt 1.1 Elect Director G. Dennis Berry --- Withhold 1.2 Elect Director Janet M. Clarke --- For 1.3 Elect Director James C. Kennedy --- Withhold 1.4 Elect Director Robert C. O'Leary --- Withhold 1.5 Elect Director James O. Robbins --- Withhold 1.6 Elect Director Rodney W. Schrock --- For 1.7 Elect Director Andrew J. Young --- Withhold 2 Approve Employee Stock Purchase Plan For For Mgmt 04/19/04 - A CYPRESS SEMICONDUCTOR CORP. *CY* 232806109 03/01/04 2,200 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For Against Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 8 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 3 Ratify Auditors For For Mgmt 07/18/03 - A ** DELL INC. *DELL* 247025109 05/23/03 4,400 1 Elect Directors For For Mgmt 2 Declassify the Board of Directors For For Mgmt 3 Change Company Name For For Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt 05/11/04 - A DST SYSTEMS, INC. *DST* 233326107 03/12/04 900 1 Elect Directors For Split Mgmt 1.1 Elect Director A. Edward Allinson --- Withhold 1.2 Elect Director Michael G. Fitt --- For 2 Increase Authorized Common Stock For For Mgmt 06/24/04 - A EBAY INC. *EBAY* 278642103 04/26/04 1,400 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Amend Stock Option Plan For For Mgmt 4 Increase Authorized Common Stock For Against Mgmt 5 Ratify Auditors For For Mgmt 6 Expense Stock Options Against For ShrHoldr 07/31/03 - A ** ELECTRONIC ARTS, INC. *ERTS* 285512109 06/04/03 400 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Ratify Auditors For For Mgmt 05/05/04 - A EMC CORP. *EMC* 268648102 03/08/04 10,500 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Ratify Auditors For For Mgmt 5 Limit Executive Compensation Against Against ShrHoldr 11/20/03 - A ** EMULEX CORP. *ELX* 292475209 10/01/03 2,300 1 Elect Directors For For Mgmt 2 Approve Option Exchange Program For For Mgmt 3 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 9 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 12/03/03 - A ** EXTREME NETWORKS, INC. *EXTR* 30226D106 10/20/03 1,700 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt 02/02/04 - A FAIR ISAAC INC. *FIC* 303250104 12/05/03 600 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Ratify Auditors For For Mgmt 05/04/04 - A FAIRCHILD SEMICONDUCTOR INTERNATIONAL, 303726103 03/10/04 900 INC. *FCS* 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/07/04 - A FILENET CORP. *FILE* 316869106 03/16/04 1,400 1 Elect Directors For Split Mgmt 1.1 Elect Director L. George Klaus --- For 1.2 Elect Director William P. Lyons --- For 1.3 Elect Director Lee D. Roberts --- For 1.4 Elect Director John C. Savage --- For 1.5 Elect Director Roger S. Siboni --- For 1.6 Elect Director Theodore J. Smith --- Withhold 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 10/28/03 - S ** FIRST DATA CORP. *FDC* 319963104 09/08/03 1,500 1 Approve Merger Agreement For For Mgmt 06/01/04 - A FOUNDRY NETWORKS, INC. *FDRY* 35063R100 04/09/04 1,400 1 Elect Directors For Split Mgmt 1.1 Elect Director Bobby R. Johnson, Jr. --- For 1.2 Elect Director Andrew K. Ludwick --- For 1.3 Elect Director Alfred J. Amoroso --- For 1.4 Elect Director C. Nicholas Keating, Jr. --- For 1.5 Elect Director J. Steven Young --- Withhold - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 10 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 03/17/04 - A HEWLETT-PACKARD CO. *HPQ* 428236103 01/20/04 1,300 1 Elect Directors For Split Mgmt 1.1 Elect Director L.T. Babbio, Jr. --- For 1.2 Elect Director P.C. Dunn --- For 1.3 Elect Director C.S. Fiorina --- For 1.4 Elect Director R.A. Hackborn --- For 1.5 Elect Director G.A. Keyworth II --- For 1.6 Elect Director R.E. Knowling, Jr. --- For 1.7 Elect Director S.M. Litvack --- Withhold 1.8 Elect Director R.L. Ryan --- For 1.9 Elect Director L.S. Salhany --- For 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Expense Stock Options Against For ShrHoldr 10/29/03 - A ** INTEGRATED CIRCUIT SYSTEMS, INC. 45811K208 09/19/03 1,200 *ICST* 1 Elect Directors For For Mgmt 05/19/04 - A INTEL CORP. *INTC* 458140100 03/22/04 2,000 1 Elect Directors For Split Mgmt 1.1 Elect Director Craig R. Barrett --- For 1.2 Elect Director Charlene Barshefsky --- For 1.3 Elect Director E. John P. Browne --- For 1.4 Elect Director Andrew S. Grove --- For 1.5 Elect Director D. James Guzy --- Withhold 1.6 Elect Director Reed E. Hundt --- For 1.7 Elect Director Paul S. Otellini --- For 1.8 Elect Director David S. Pottruck --- For 1.9 Elect Director Jane E. Shaw --- For 1.10 Elect Director John L. Thornton --- For 1.11 Elect Director David B. Yoffie --- For 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Expense Stock Options Against For ShrHoldr 5 Limit/Prohibit Awards to Executives Against For ShrHoldr 6 Performance- Based/Indexed Options Against For ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 11 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/27/04 - A INTERNATIONAL BUSINESS MACHINES CORP. 459200101 02/27/04 800 *IBM* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Ratify Auditors for the Company's Business For For Mgmt Consulting Services Unit 4 Approve Executive Incentive Bonus Plan For For Mgmt 5 Provide for Cumulative Voting Against For ShrHoldr 6 Amend Pension and Retirement Medical Against Against ShrHoldr Insurance Plans 7 Submit Executive Compensation to Vote Against For ShrHoldr 8 Expense Stock Options Against For ShrHoldr 9 Limit Awards to Executives Against Against ShrHoldr 10 China Principles Against Against ShrHoldr 11 Report on Political Contributions/Activities Against Against ShrHoldr 12 Report on Executive Compensation Against Against ShrHoldr 11/24/03 - A ** INTERNATIONAL RECTIFIER CORP. *IRF* 460254105 09/26/03 100 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Ratify Auditors For For Mgmt 01/26/04 - S INTERNATIONAL RECTIFIER CORP. *IRF* 460254105 12/19/03 200 1 Increase Authorized Common Stock For For Mgmt 10/30/03 - A ** INTUIT, INC. *INTU* 461202103 09/02/03 1,300 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt 01/13/04 - A ** JABIL CIRCUIT, INC. *JBL* 466313103 11/14/03 2,000 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 04/16/04 - S JUNIPER NETWORKS, INC. *JNPR* 48203R104 03/10/04 2,700 1 Issue Shares in Connection with an For For Mgmt Acquisition - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 12 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/19/04 - A JUNIPER NETWORKS, INC. *JNPR* 48203R104 03/22/04 2,700 1 Elect Directors For Split Mgmt 1.1 Elect Director Pradeep Sindhu --- For 1.2 Elect Director Robert M. Calderoni --- For 1.3 Elect Director Kenneth Levy --- Withhold 2 Ratify Auditors For For Mgmt 11/05/03 - A ** KLA-TENCOR CORP. *KLAC* 482480100 09/15/03 1,200 1.a Elect Director H. Raymond Bingham For For Mgmt 1.b Elect Director Robert T. Bond For For Mgmt 1.c Elect Director Richard J. Elkus, Jr. For For Mgmt 1.d Elect Director Michael E. Marks For For Mgmt 2 Ratify Auditors For For Mgmt 11/06/03 - A ** LAM RESEARCH CORP. *LRCX* 512807108 09/12/03 2,600 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Ratify Auditors For For Mgmt 04/22/04 - A LEXMARK INTERNATIONAL, INC. *LXK* 529771107 03/05/04 900 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 11/05/03 - A ** LINEAR TECHNOLOGY CORP. *LLTC* 535678106 09/08/03 2,300 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 02/18/04 - A LUCENT TECHNOLOGIES INC. *LU* 549463107 12/22/03 4,700 1 Elect Directors For For Mgmt 2 Declassify the Board of Directors and Amend For For Mgmt Director Removal Provision 3 Approve Non-Employee Director Omnibus Stock For For Mgmt Plan - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 13 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 4 Approve Reverse Stock Split For For Mgmt SHAREHOLDER PROPOSALS 5 Submit Severance Agreement Against For ShrHoldr (Change-in-Control) to Shareholder Vote 6 Prohibit Awards to Executives Against Against ShrHoldr 11/13/03 - A ** MAXIM INTEGRATED PRODUCTS, INC. 57772K101 09/15/03 2,200 *MXIM* 1 Elect Directors For For Mgmt 2 Amend Stock Option Plan For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Ratify Auditors For For Mgmt 08/27/03 - A ** MCDATA CORPORATION *MCDT* 580031201 07/01/03 2,500 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 04/27/04 - A MEMC ELECTRONIC MATERIALS, INC. *WFR* 552715104 03/01/04 1,200 1 Elect Directors For Split Mgmt 1.1 Elect Director John Marren --- Withhold 1.2 Elect Director William E. Stevens --- For 1.3 Elect Director William D. Watkins --- For 1.4 Elect Director James B. Williams --- Withhold 2 Amend Omnibus Stock Plan For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Amend Omnibus Stock Plan For For Mgmt 5 Amend Omnibus Stock Plan For For Mgmt 12/10/03 - S ** MERCURY INTERACTIVE CORP. *MERQ* 589405109 10/31/03 1,000 1 Amend Stock Option Plan For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 05/19/04 - A MERCURY INTERACTIVE CORP. *MERQ* 589405109 03/22/04 1,800 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 14 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 08/15/03 - A ** MICROCHIP TECHNOLOGY, INC. *MCHP* 595017104 06/20/03 1,400 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 11/11/03 - A ** MICROSOFT CORP. *MSFT* 594918104 09/12/03 2,100 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Amend Non-Employee Director Stock Option For For Mgmt Plan SHAREHOLDER PROPOSAL 4 Refrain from Giving Charitable Contributions Against Abstain ShrHoldr 05/03/04 - A MOTOROLA, INC. *MOT* 620076109 03/05/04 4,900 1 Elect Directors For For Mgmt 2 Limit Executive Compensation Against Against ShrHoldr 3 Limit Awards to Executives Against Against ShrHoldr 09/26/03 - A ** NATIONAL SEMICONDUCTOR CORP. *NSM* 637640103 08/14/03 1,300 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Employee Stock Purchase Plan For For Mgmt 03/05/04 - A NETSCREEN TECHNOLOGIES, INC. 64117V107 01/15/04 600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/16/04 - S NETSCREEN TECHNOLOGIES, INC. 64117V107 03/10/04 900 1 Approve Merger Agreement For For Mgmt 2 Adjourn Meeting For Against Mgmt 09/02/03 - A ** NETWORK APPLIANCE, INC. *NTAP* 64120L104 07/07/03 5,000 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For Against Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Ratify Auditors For For Mgmt 5 Other Business For Against Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 15 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/27/04 - A NEXTEL COMMUNICATIONS, INC. *NXTL* 65332V103 04/02/04 3,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 05/18/04 - A NEXTEL PARTNERS, INC. *NXTP* 65333F107 04/02/04 2,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Stock Option Plan For Against Mgmt 4 Increase Authorized Common Stock For For Mgmt 5 Permit Board to Amend Bylaws Without For Against Mgmt Shareholder Consent 03/25/04 - A NOKIA CORP. 654902204 01/30/04 1,772 MEETING FOR HOLDERS OF ADRS 1 APPROVAL OF THE INCOME STATEMENTS AND THE For For Mgmt BALANCE SHEETS. 2 APPROVAL OF A DIVIDEND OF EUR 0.30 PER For For Mgmt SHARE. 3 APPROVAL OF THE DISCHARGE OF THE CHAIRMAN, For For Mgmt THE MEMBERS OF THE BOARD OF DIRECTORS AND THE PRESIDENT FROM LIABILITY. 4 Elect Directors For For Mgmt 5 Ratify Auditors For For Mgmt 6 APPROVAL OF THE PROPOSAL OF THE BOARD TO For For Mgmt REDUCE THE SHARE CAPITAL THROUGH CANCELLATION OF NOKIA SHARES HELD BY THE COMPANY 7 APPROVAL OF THE AUTHORIZATION TO THE BOARD For For Mgmt TO INCREASE THE SHARE CAPITAL OF THE COMPANY. 8 APPROVAL OF THE AUTHORIZATION TO THE BOARD For For Mgmt TO REPURCHASE NOKIA SHARES. 9 APPROVAL OF THE AUTHORIZATION TO THE BOARD For For Mgmt TO DISPOSE NOKIA SHARES HELD BY THE COMPANY. 10 APPROVAL OF THE PROPOSAL OF THE BOARD TO For For Mgmt INCREASE THE CAPITAL OF THE FOUNDATION OF NOKIA CORPORATION. 11 MARK THE FOR BOX IF YOU WISH TO INSTRUCT None Against Mgmt THE DEPOSITARY TO GIVE A PROXY TO ANY ONE OF - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 16 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ MARIANNA UOTINEN-TARKOMA, ESA KAUNISTOLA, BOTH LEGAL COUNSELS OF NOKIA CORPORATION, TO AUTHORIZE ANY OF THEM (WITH FULL POWER OF SUBSTITUTION) TO VOTE, IN THEIR DISCR 04/15/04 - A NOVELL, INC. *NOVL* 670006105 02/20/04 3,600 1 Elect Directors For For Mgmt 2 Expense Stock Options Against For ShrHoldr 3 Performance-Based/Indexed Options Against For ShrHoldr 4 Prohibit Auditor from Providing Non-Audit Against Against ShrHoldr Services 04/16/04 - A NOVELLUS SYSTEMS, INC. *NVLS* 670008101 02/17/04 500 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Provision of Non-Audit Services by Against Against ShrHoldr Independent Auditors 4 Limit Executive Compensation Against Against ShrHoldr 10/13/03 - A ** ORACLE CORP. *ORCL* 68389X105 08/21/03 8,500 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Amend Non-Employee Director Omnibus Stock For For Mgmt Plan SHAREHOLDER PROPOSAL 5 Implement China Principles Against Against ShrHoldr 10/02/03 - A ** PAYCHEX, INC. *PAYX* 704326107 08/04/03 1,600 1 Elect Directors For For Mgmt 03/25/04 - A PEOPLESOFT, INC. *PSFT* 712713106 02/10/04 2,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against For ShrHoldr 05/14/04 - A PMC-SIERRA, INC. *PMCS* 69344F106 03/15/04 1,700 1 Elect Directors For Split Mgmt 1.1 Elect Director Robert Bailey --- For - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 17 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.2 Elect Director Alexandre Balkanski --- For 1.3 Elect Director Richard Belluzzo --- For 1.4 Elect Director James Diller --- Withhold 1.5 Elect Director Jonathan Judge --- For 1.6 Elect Director William Kurtz --- For 1.7 Elect Director Frank Marshall --- For 1.8 Elect Director Lewis Wilks --- For 2 Ratify Auditors For For Mgmt 08/26/03 - A ** QLOGIC CORP. *QLGC* 747277101 07/01/03 1,500 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 03/02/04 - A QUALCOMM INC. *QCOM* 747525103 01/02/04 2,000 1 Elect Directors For Split Mgmt 1.1 Elect Director Adelia A. Coffman --- Withhold 1.2 Elect Director Raymond V. Dittamore --- For 1.3 Elect Director Irwin Mark Jacobs --- For 1.4 Elect Director Richard Sulpizio --- For 2 Amend Stock Option Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Declassify the Board of Directors Against For ShrHoldr 02/27/04 - A SAMSUNG ELECTRONICS CO. LTD. 796050888 12/31/03 200 MEETING FOR HOLDERS OF ADRS 1 APPROVAL OF THE BALANCE SHEET, PROFIT AND For For Mgmt LOSS STATEMENT AND STATEMENT OF APPROPRIATION OF RETAINED EARNINGS (DRAFT) FOR THE 35TH FISCAL YEAR (FROM JANUARY 1, 2003 TO DECEMBER 31, 2003), AS SET FORTH IN THE COMPANY S NOTICE OF MEETING. 2 APPROVAL OF THE APPOINTMENT OF GORAN S. For For Mgmt MALM AND KAP-HYUN LEE AS OUTSIDE DIRECTORS. 3 APPROVAL OF THE APPOINTMENT OF KAP-HYUN LEE For For Mgmt AS MEMBER OF THE AUDIT COMMITTEE. 4 APPROVAL OF THE APPOINTMENT For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 18 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ OF HAK-SOO LEE AS OTHER DIRECTOR. 5 APPROVAL OF THE CEILING AMOUNT OF THE For For Mgmt REMUNERATION FOR DIRECTORS, AS SET FORTH IN THE COMPANY S NOTICE OF MEETING. 01/26/04 - A SANMINA-SCI CORP. *SANM* 800907107 12/01/03 4,100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/06/04 - A SAP AG 803054105 03/30/04 400 MEETING FOR HOLDERS OF ADRS 1 RESOLUTION ON THE APPROPRIATION OF THE For For Mgmt RETAINED EARNINGS OF THE FISCAL YEAR 2003 2 RESOLUTION ON THE FORMAL APPROVAL OF THE For For Mgmt ACTS OF THE EXECUTIVE BOARD IN THE FISCAL YEAR 2003 3 RESOLUTION ON THE FORMAL APPROVAL OF THE For For Mgmt ACTS OF THE SUPERVISORY BOARD IN THE FISCAL YEAR 2003 4 Ratify Auditors For For Mgmt 5 RESOLUTION ON ADJUSTMENTS TO SECTION 4 OF For For Mgmt THE ARTICLES OF ASSOCIATION 6 RESOLUTION ON THE AUTHORIZATION TO ACQUIRE For For Mgmt AND USE TREASURY SHARES 7 RESOLUTION ON THE AUTHORIZATION TO USE For Against Mgmt EQUITY DERIVATIVES IN CONNECTION WITH THE ACQUISITION OF TREASURY SHARES 05/06/04 - A SAP AG 803054204 03/30/04 2,300 MEETING FOR HOLDERS OF ADRS 1 RESOLUTION ON THE APPROPRIATION OF THE For For Mgmt RETAINED EARNINGS OF THE FISCAL YEAR 2003 2 RESOLUTION ON THE FORMAL APPROVAL OF THE For For Mgmt ACTS OF THE - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 19 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ EXECUTIVE BOARD IN THE FISCAL YEAR 2003 3 RESOLUTION ON THE FORMAL APPROVAL OF THE For For Mgmt ACTS OF THE SUPERVISORY BOARD IN THE FISCAL YEAR 2003 4 Ratify Auditors For For Mgmt 5 RESOLUTION ON ADJUSTMENTS TO SECTION 4 OF For For Mgmt THE ARTICLES OF ASSOCIATION 6 RESOLUTION ON THE AUTHORIZATION TO ACQUIRE For For Mgmt AND USE TREASURY SHARES 7 RESOLUTION ON THE AUTHORIZATION TO USE For Against Mgmt EQUITY DERIVATIVES IN CONNECTION WITH THE ACQUISITION OF TREASURY SHARES 05/25/04 - A SAPIENT CORPORATION *SAPE* 803062108 04/01/04 400 1 Elect Directors For For Mgmt 2 Declassify the Board of Directors For For Mgmt 3 Ratify Auditors For For Mgmt 11/07/03 - A ** SCIENTIFIC-ATLANTA, INC. *SFA* 808655104 09/15/03 400 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 06/23/04 - A SIEBEL SYSTEMS, INC. *SEBL* 826170102 04/29/04 1,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Abstain For ShrHoldr 04/29/04 - A SILICON LABORATORIES, INC. *SLAB* 826919102 03/01/04 800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/25/04 - A SIRIUS SATELLITE RADIO, INC. *SIRI* 82966U103 03/29/04 5,600 1 Elect Directors For Split Mgmt 1.1 Elect Director Leon D. Black --- For 1.2 Elect Director Joseph P. Clayton --- Withhold - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 20 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.3 Elect Director Lawrence F. Gilberti --- For 1.4 Elect Director James P. Holden --- For 1.5 Elect Director Warren N. Lieberfarb --- For 1.6 Elect Director Michael J. McGuiness --- For 1.7 Elect Director James F. Mooney --- For 2 Amend Omnibus Stock Plan For Against Mgmt 3 Approve Employee Stock Purchase Plan For For Mgmt 01/07/04 - A ** SOLECTRON CORP. *SLR* 834182107 11/18/03 3,100 1 Elect Directors For For Mgmt 2 Approve Option Exchange Program For Against Mgmt 3 Ratify Auditors For For Mgmt 08/21/03 - A ** SYMANTEC CORP. *SYMC* 871503108 07/08/03 1,040 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Amend Stock Option Plan For For Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt 5 Ratify Auditors For For Mgmt 04/26/04 - A SYMBOL TECHNOLOGIES, INC. *SBL* 871508107 03/01/04 600 1 Elect Directors For For Mgmt 2 Amend Executive Incentive Bonus Plan For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Ratify Auditors For For Mgmt 05/11/04 - A TAIWAN SEMICONDUCTOR MANUFACTURING CO. 874039100 03/15/04 4,411 MEETING FOR HOLDERS OF ADRS 1 TO ACCEPT 2003 BUSINESS REPORT AND For For Mgmt FINANCIAL STATEMENTS. 2 TO APPROVE THE PROPOSAL FOR DISTRIBUTION OF For For Mgmt 2003 PROFITS. 3 TO APPROVE THE CAPITALIZATION OF 2003 For For Mgmt DIVIDENDS AND EMPLOYEE PROFIT SHARING. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 21 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/27/04 - A TERADYNE, INC. *TER* 880770102 04/05/04 1,300 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt 10/27/03 - S ** TEVA PHARMACEUTICAL INDUSTRIES 881624209 09/18/03 400 1 Elect G. Shalev as an External Director For For Mgmt 2 Approve Increase in Remuneration of For For Mgmt Directors other than the Chairman 05/20/04 - A TEVA PHARMACEUTICAL INDUSTRIES 881624209 04/15/04 1,200 MEETING FOR HOLDERS OF ADRS 1 TO RECEIVE AND DISCUSS THE COMPANY S For For Mgmt CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2003 AND THE CONSOLIDATED STATEMENTS. 2 TO APPROVE THE BOARD OF DIRECTORS For Against Mgmt RECOMMENDATION THAT THE CASH DIVIDEND FOR THE YEAR ENDED DECEMBER 31, 2003, WHICH WAS PAID IN FOUR INSTALLMENTS AND AGGREGATED NIS 1.44 (APPROXIMATELY US$0.322) PER ORDINARY SHARE, BE DECLARED FINAL. 3 TO ELECT ABRAHAM E. COHEN TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 4 TO ELECT LESLIE DAN TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 5 TO ELECT PROF. MEIR HETH TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 6 TO ELECT PROF. MOSHE MANY TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 7 TO ELECT DOV SHAFIR TO SERVE FOR A For For Mgmt THREE-YEAR TERM. 8 TO APPROVE THE PURCHASE OF DIRECTOR S AND For Against Mgmt OFFICER S LIABILITY INSURANCE FOR THE DIRECTORS AND OFFICERS OF THE COMPANY. 9 Ratify Auditors For For Mgmt 04/15/04 - A TEXAS INSTRUMENTS INC. *TXN* 882508104 02/17/04 3,900 1 Elect Directors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 22 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against For ShrHoldr 05/21/04 - A TIME WARNER INC *TWX* 887317105 03/23/04 4,500 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Adopt China Principles Against Against ShrHoldr 4 Report on Pay Disparity Against Against ShrHoldr 05/06/04 - A UNITED ONLINE, INC. *UNTD* 911268100 03/29/04 1,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Other Business For Against Mgmt 09/24/03 - S ** UTSTARCOM, INC. *UTSI* 918076100 08/15/03 1,600 1 Increase Authorized Common Stock For For Mgmt 05/27/04 - A VERISIGN INC *VRSN* 92343E102 03/29/04 5,000 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/12/04 - A VISHAY INTERTECHNOLOGY, INC. *VSH* 928298108 03/29/04 1,600 1 Elect Directors For Split Mgmt 1.1 Elect Director Dr. Felix Zandman --- Withhold 1.2 Elect Director Philippe Gazeau --- Withhold 1.3 Elect Director Zvi Grinfas --- For 1.4 Elect Director Dr. Gerald Paul --- Withhold 2 Ratify Auditors For For Mgmt 3 Amend Executive Incentive Bonus Plan For For Mgmt 4 Approve Restricted Stock Plan For For Mgmt 01/26/04 - A VITESSE SEMICONDUCTOR CORP. *VTSS* 928497106 12/01/03 6,000 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt 07/30/03 - A ** VODAFONE GROUP PLC 92857W100 None 1,600 1 Accept Financial Statements and For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 23 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF INVESCO TECHNOLOGY FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Statutory Reports 2 Approve Remuneration Report For For Mgmt 3 Reelect Lord MacLaurin of Knebworth as For For Mgmt Director 4 Reelect Kenneth Hydon as Director For For Mgmt 5 Reelect Thomas Geitner as Director For For Mgmt 6 Reelect Alec Broers as Director For For Mgmt 7 Reelect Juergen Schrempp as Director For For Mgmt 8 Elect John Buchanan as Director For For Mgmt 9 Approve Final Dividend of 0.8983 Pence Per For For Mgmt Share 10 Ratify Deloitte and Touche as Auditors For For Mgmt 11 Authorize Board to Fix Remuneration of For For Mgmt Auditors 12 Authorize EU Political Donations up to GBP For For Mgmt 100,000 13 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of USD 900,000,000 14 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of USD 340,000,000 15 Authorize 6,800,000,000 Shares for Share For For Mgmt Repurchase Program 08/07/03 - A ** XILINX, INC. *XLNX* 983919101 06/09/03 2,200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/21/04 - A YAHOO!, INC. *YHOO* 984332106 03/25/04 2,700 1 Elect Directors For Withhold Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Expense Stock Options Against For ShrHoldr 06/03/04 - A ZEBRA TECHNOLOGIES CORP. *ZBRA* 989207105 04/08/04 600 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Ratify Auditors For For Mgmt 4 Adopt Charter Language on Board Diversity Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 24 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 12/18/03 - S ALLIED WASTE INDUSTRIES, INC. *AW* 019589308 11/03/03 4,830 1 Approve Conversion of Securities For For Mgmt 05/25/04 - A AMAZON.COM, INC. *AMZN* 023135106 03/29/04 5,010 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Limit Executive Compensation Against Against ShrHoldr 05/19/04 - A AMERICAN INTERNATIONAL GROUP, INC. 026874107 03/26/04 1,015 *AIG* 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Approve Non-Employee Director Stock Option For For Mgmt Plan 4 Ratify Auditors For For Mgmt 5 Report on Political Contributions/Activities Against Against ShrHoldr 6 Divest from Tobacco Equities Against Against ShrHoldr 7 Link Executive Compensation to Predatory Against Against ShrHoldr Lending 05/17/04 - A ANTHEM INC. *ATH* 03674B104 03/19/04 1,385 1 Elect Directors For For Mgmt 06/28/04 - S ANTHEM INC. *ATH* 03674B104 05/10/04 1,485 1 Issue Shares in Connection with an For For Mgmt Acquisition 2 Change Company Name For For Mgmt 03/24/04 - A APPLIED MATERIALS, INC. *AMAT* 038222105 01/30/04 6,150 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 05/19/04 - A AT&T WIRELESS SERVICES, INC. *AWE* 00209A106 03/22/04 535 1 Approve Merger Agreement For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 1 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 2 Elect Directors For For Mgmt 3 Ratify Auditors For For Mgmt 4 Limit Executive Compensation Against Against ShrHoldr 5 Prohibit Awards to Executives Against Against ShrHoldr 6 Require Affirmative Vote of a Majority of Against Against ShrHoldr the Shares to Elect Directors 05/06/04 - A AVON PRODUCTS, INC. *AVP* 054303102 03/15/04 1,505 1 Elect Directors For Split Mgmt 1.1 Elect Director Edward T. Fogarty --- For 1.2 Elect Director Susan J. Kropf --- For 1.3 Elect Director Maria Elena Lagomasino --- Withhold 2 Ratify Auditors For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Declassify the Board of Directors Against Against ShrHoldr 5 Report on Feasibility of Removing Parabens Against Against ShrHoldr from Company Products 6 Report on Feasibility of Removing Dibutyl Against Against ShrHoldr Phthalate from Company Products 05/25/04 - A BANK ONE CORP. 06423A103 04/02/04 3,265 1 Approve Merger Agreement For For Mgmt 2 Elect Directors For For Mgmt 3 Ratify Auditors For For Mgmt 05/01/04 - A ** BERKSHIRE HATHAWAY INC. *BRK.A* 084670207 03/03/04 139 1 Elect Directors For For Mgmt 2 Report on Political Contributions/Activities Against Against ShrHoldr 01/22/04 - A BJ SERVICES COMPANY *BJS* 055482103 12/05/03 1,075 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt SHAREHOLDER PROPOSAL 3 Report on Foreign Operations Risk Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 2 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/20/04 - A C.H. ROBINSON WORLDWIDE, INC. *CHRW* 12541W100 03/22/04 1,505 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/25/04 - A CABLEVISION SYSTEMS CORP. *CVC* 12686C109 04/05/04 11,243 1 Elect Directors For Withhold Mgmt 2 Ratify Auditors For For Mgmt 04/22/04 - A CANADIAN NATIONAL RAILWAY CO. *CNR.* 136375102 03/15/04 5,257 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 03/22/04 - S CAREMARK RX, INC. *CMX* 141705103 02/05/04 4,055 1 Increase Authorized Common Stock For For Mgmt 2 Approve Issuance of Stock in Connection For For Mgmt with Merger Agreement 3 Increase Authorized Preferred Stock For Against Mgmt 4 Approve Omnibus Stock Plan For For Mgmt 5 Allow Postponement or Adjournment of For Against Mgmt Special Meeting 05/04/04 - A CAREMARK RX, INC. *CMX* 141705103 04/01/04 4,555 1 Elect Directors For For Mgmt 03/10/04 - A CIENA CORPORATION *CIEN* 171779101 01/20/04 5,560 1 Elect Directors For For Mgmt 11/11/03 - A CISCO SYSTEMS, INC. *CSCO* 17275R102 09/12/03 13,625 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt SHAREHOLDER PROPOSALS 4 Report on Company Products Used by the Against Against ShrHoldr Government to Monitor the Internet - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 3 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 5 Report on Pay Disparity Against Against ShrHoldr 04/20/04 - A CITIGROUP INC. *C* 172967101 02/27/04 3,690 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Limit Executive Compensation Against Against ShrHoldr 4 Report on Political Contributions/Activities Against Against ShrHoldr 5 Prohibit Awards to Executives Against Against ShrHoldr 6 Separate Chairman and CEO Positions Against For ShrHoldr 04/28/04 - A CLEAR CHANNEL COMMUNICATIONS, INC. 184502102 03/08/04 620 *CCU* 1 Elect Directors For Split Mgmt 1.1 Elect Director Alan D. Feld --- Withhold 1.2 Elect Director Thomas O. Hicks --- For 1.3 Elect Director Perry J. Lewis --- For 1.4 Elect Director L. Lowry Mays --- For 1.5 Elect Director Mark P. Mays --- For 1.6 Elect Director Randall T. Mays --- For 1.7 Elect Director B.J. Mccombs --- For 1.8 Elect Director Phyllis B. Riggins --- For 1.9 Elect Director Theordore H. Strauss --- For 1.10 Elect Director J.C. Watts --- For 1.11 Elect Director John H. Williams --- For 2 Ratify Auditors For For Mgmt 08/27/03 - A COMPUTER ASSOCIATES INTERNATIONAL, 204912109 07/02/03 16,060 INC. *CA* 1 Elect Directors For For Mgmt 2 Approve Non-Employee Director Omnibus Stock For For Mgmt Plan 3 Ratify Auditors For For Mgmt 04/29/04 - A ** CORNING INC. *GLW* 219350105 03/01/04 3,780 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 4 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 3 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 05/18/04 - A COX COMMUNICATIONS, INC. *COX* 224044107 03/19/04 3,330 1 Elect Directors For Withhold Mgmt 2 Approve Employee Stock Purchase Plan For For Mgmt 05/27/04 - A E*TRADE GROUP, INC. *ET* 269246104 04/05/04 7,220 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 06/24/04 - A ** EBAY INC. *EBAY* 278642103 04/26/04 475 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Amend Stock Option Plan For For Mgmt 4 Increase Authorized Common Stock For For Mgmt 5 Ratify Auditors For For Mgmt 6 Expense Stock Options Against For ShrHoldr 05/06/04 - A ECHOSTAR COMMUNICATIONS CORP. *DISH* 278762109 03/22/04 3,760 1 Elect Directors For Withhold Mgmt 2 Ratify Auditors For Against Mgmt 3 Other Business For Against Mgmt 07/31/03 - A ELECTRONIC ARTS, INC. *ERTS* 285512109 06/04/03 725 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Ratify Auditors For For Mgmt 05/25/04 - A ** FANNIE MAE *FNM* 313586109 04/06/04 1,795 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Provide for Cumulative Voting Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 5 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 03/23/04 - A ** FIFTH THIRD BANCORP *FITB* 316773100 01/30/04 1,635 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For Against Mgmt 4 Adopt Sexual Orientation Non-Discrimination None Against ShrHoldr Policy 08/11/03 - A FOREST LABORATORIES, INC. *FRX* 345838106 06/20/03 4,705 1 Elect Directors For Split Mgmt 1.1 Elect Director Howard Solomon --- For 1.2 Elect Director William J. Candee, III --- For 1.3 Elect Director George S. Cohan --- For 1.4 Elect Director Dan L. Goldwasser --- For 1.5 Elect Director Lester B. Salans, M.D. --- For 1.6 Elect Director Kenneth E. Goodman --- For 1.7 Elect Director Phillip M. Satow --- Against 2 Increase Authorized Common Stock For Against Mgmt 3 Ratify Auditors For For Mgmt 05/03/04 - S FRANKLIN FINANCIAL CORP. (TN) 353523202 03/30/04 125 1 Approve Merger Agreement For For Mgmt 03/31/04 - A ** FREDDIE MAC *FRE* 313400301 02/20/04 2,205 1 Elect Directors For Split Mgmt 1.1 Elect Director Joan E. Donoghue --- For 1.2 Elect Director Michelle Engler --- Withhold 1.3 Elect Director Richard Karl Goeltz --- For 1.4 Elect Director George D. Gould --- Withhold 1.5 Elect Director Henry Kaufman --- Withhold 1.6 Elect Director John B. Mccoy --- Withhold 1.7 Elect Director Shaun F. O'Malley --- - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 6 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Withhold 1.8 Elect Director Ronald F. Poe --- Withhold 1.9 Elect Director Stephen A. Ross --- Withhold 1.10 Elect Director Donald J. Schuenke --- Withhold 1.11 Elect Director Christina Seix --- Withhold 1.12 Elect Director Richard F. Syron --- For 1.13 Elect Director William J. Turner --- Withhold 2 Ratify Auditors For For Mgmt 04/16/04 - A GIVAUDAN AG H3238Q102 None 310 1 Receive Financial Statements and Statutory None None Mgmt Reports 2 Approve Discharge of Board and Senior For For Mgmt Management 3 Approve Allocation of Income and an For For Mgmt Ordinary Dividend of CHF 8.90 per Share; Approve Payment of an Extraordinary Dividend of CHF 6.50 per Share 4 Approve CHF 2 Million Reduction in Share For For Mgmt Capital via Cancellation of Shares 5 Approve Creation of CHF 10 Million Pool of For For Mgmt Conditional Capital without Preemptive Rights 6 Reelect Henri Meier as Director; Elect For For Mgmt Dietrich Fuhrmann as Director 7 Reelect PricewaterhouseCoopers SA as For For Mgmt Auditors 05/18/04 - A GUIDANT CORP. *GDT* 401698105 03/11/04 3,010 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against Against ShrHoldr 11/12/03 - A HARMAN INTERNATIONAL INDUSTRIES, INC. 413086109 09/15/03 180 *HAR* 1 Elect Directors For For Mgmt 2 Approve Stock Split For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 7 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 03/02/04 - A ** INTERNATIONAL GAME TECHNOLOGY *IGT* 459902102 01/02/04 1,660 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For Against Mgmt 10/30/03 - A INTUIT, INC. *INTU* 461202103 09/02/03 525 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For Against Mgmt 05/06/04 - A KANSAS CITY SOUTHERN *KSU* 485170302 03/08/04 2,315 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/28/04 - A KOHL'S CORP. *KSS* 500255104 03/03/04 530 1 Elect Directors For Withhold Mgmt 2 Ratify Auditors For Abstain Mgmt 3 Performance-Based Stock/Indexed Options Against Abstain ShrHoldr 4 Separate Chairman and CEO Positions Against Abstain ShrHoldr 06/25/04 - A KOMATSU LTD. J35759125 03/31/04 10,000 1 Approve Allocation of Income, Including the For For Mgmt Following Dividends: Interim JY 3, Final JY 4, Special JY 0 2 Amend Articles to: Expand Business Lines - For For Mgmt Authorize Share Repurchases at Board's Discretion 3 Elect Directors For For Mgmt 4 Appoint Internal Statutory Auditor For For Mgmt 5 Approve Executive Stock Option Plan For For Mgmt 6 Approve Adjustment to Aggregate For For Mgmt Compensation Ceiling for Directors and Statutory Auditors 7 Approve Retirement Bonus for Statutory For For Mgmt Auditor - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 8 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/27/04 - A LAMAR ADVERTISING COMPANY *LAMR* 512815101 04/05/04 1,615 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 06/09/04 - A LIBERTY MEDIA CORP. *L* 530718105 04/21/04 59,331 1 Elect Directors For For Mgmt 2 Amend Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For Against Mgmt 04/22/04 - A ** LOCKHEED MARTIN CORP. *LMT* 539830109 03/01/04 3,180 1 Elect Directors For Split Mgmt 1.1 Elect Director E.C. 'Pete' Aldridge, Jr. --- For 1.2 Elect Director Nolan D. Archibald --- For 1.3 Elect Director Norman R. Augustine --- Withhold 1.4 Elect Director Marcus C. Bennett --- For 1.5 Elect Director Vance D. Coffman --- For 1.6 Elect Director Gwendolyn S. King --- For 1.7 Elect Director Douglas H. McCorkindale --- For 1.8 Elect Director Eugene F. Murphy --- For 1.9 Elect Director Joseph W. Ralston --- Withhold 1.10 Elect Director Frank Savage --- For 1.11 Elect Director Anne Stevens --- For 1.12 Elect Director Robert J. Stevens --- For 1.13 Elect Director James R. Ukropina --- For 1.14 Elect Director Douglas C. Yearley --- For 2 Ratify Auditors For Against Mgmt 3 Report on Executive Ties to Government Against Against ShrHoldr 4 Submit Shareholder Rights Plan (Poison Against Against ShrHoldr Pill) to Shareholder Vote 5 Prohibit Auditor from Providing Non-Audit Against Against ShrHoldr Services - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 9 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 6 Develop Ethical Criteria for Military Against Against ShrHoldr Contracts 05/13/04 - A/S ** LVMH MOET HENNESSY LOUIS VUITTON F58485115 None 764 ORDINARY BUSINESS 1 Accept Consolidated Financial Statements For Abstain Mgmt and Statutory Reports 2 Approve Financial Statements and Discharge For Abstain Mgmt Directors 3 Approve Special Auditors' Report Regarding For Abstain Mgmt Related-Party Transactions 4 Approve Allocation of Income and Net For Abstain Mgmt Dividends of EUR 0.85 per Share 5 Ratify Cooptation and Reelect Delphine For Abstain Mgmt Arnault as Director 6 Reelect Bernard Arnault as Director For Abstain Mgmt 7 Reelect Jean Arnault as Director For Abstain Mgmt 8 Reelect Nicholas Clive-Worms as Director For Abstain Mgmt 9 Reelect Felix G. Rohatyn as Director For Abstain Mgmt 10 Elect Patrick Houel as Director For Abstain Mgmt 11 Elect Hubert Vedrine as Director For Abstain Mgmt 12 Appoint Kilian Hennesy as Censor For Abstain Mgmt 13 Ratify Deloitte Touche Tohmatsu Audit as For Abstain Mgmt Auditors 14 Ratify Ernst & Young Audit as Auditors For Abstain Mgmt 15 Ratify Denis Grison as Alternate Auditor For Abstain Mgmt 16 Ratify Dominique Thouvenin as Alternate For Abstain Mgmt Auditor 17 Authorize Repurchase of Up to Ten Percent For Abstain Mgmt of Issued Share Capital 18 Approve Remuneration of Directors in the For Abstain Mgmt Aggregate Amount of EUR 1.14 Million SPECIAL BUSINESS 19 Approve Reduction in Share Capital via For Abstain Mgmt Cancellation of Repurchased Shares 20 Amend Articles of Association Re: Board For Abstain Mgmt Size and Terms of Directors, Minimum Share Ownership Requirement for Board Members, Role of Chairman, and Editorial Changes - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 10 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/05/04 - A MARVEL ENTERPRISES, INC. *MVL* 57383M108 03/24/04 1,105 1 Elect Directors For For Mgmt 2 Amend Articles/Bylaws/Charter-Non-Routine For For Mgmt 3 Amend Omnibus Stock Plan For Against Mgmt 4 Ratify Auditors For Against Mgmt 05/03/04 - A ** MBNA CORP. *KRB* 55262L100 02/13/04 1,380 1 Elect Directors For Withhold Mgmt 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against Against ShrHoldr 4 Require Majority of Independent Directors Against For ShrHoldr on Board 04/21/04 - A MEDCO HEALTH SOLUTIONS INC *MHS* 58405U102 03/10/04 3,505 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 08/28/03 - A ** MEDTRONIC, INC. *MDT* 585055106 07/03/03 3,480 1 Elect Directors For Split Mgmt 1.1 Elect Director Richard H. Anderson --- For 1.2 Elect Director Michael R. Bonsignore --- Withhold 1.3 Elect Director Gordon M. Sprenger --- Withhold 2 Ratify Auditors For Against Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt 05/13/04 - A MGIC INVESTMENT CORP. *MTG* 552848103 03/15/04 2,215 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 11/11/03 - A ** MICROSOFT CORP. *MSFT* 594918104 09/12/03 6,840 1 Elect Directors For Split Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 11 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1.1 Elect Director William H. Gates, III --- For 1.2 Elect Director Steven A. Ballmer --- For 1.3 Elect Director James I. Cash, Jr., Ph.D. --- For 1.4 Elect Director Raymond V. Gilmartin --- For 1.5 Elect Director Ann McLaughlin Korologos --- For 1.6 Elect Director David F. Marquardt --- For 1.7 Elect Director Charles H. Noski --- For 1.8 Elect Director Dr. Helmut Panke --- For 1.9 Elect Director Wm. G. Reed, Jr. --- For 1.10 Elect Director Jon A. Shirley --- Withhold 2 Amend Omnibus Stock Plan For For Mgmt 3 Amend Non-Employee Director Stock Option For For Mgmt Plan SHAREHOLDER PROPOSAL 4 Refrain from Giving Charitable Contributions Against Against ShrHoldr 03/25/04 - A ** NOKIA CORP. 654902204 01/30/04 13,390 MEETING FOR HOLDERS OF ADRS 1 APPROVAL OF THE INCOME STATEMENTS AND THE For For Mgmt BALANCE SHEETS. 2 APPROVAL OF A DIVIDEND OF EUR 0.30 PER For For Mgmt SHARE. 3 APPROVAL OF THE DISCHARGE OF THE CHAIRMAN, For For Mgmt THE MEMBERS OF THE BOARD OF DIRECTORS AND THE PRESIDENT FROM LIABILITY. 4 Elect Directors For For Mgmt 5 Ratify Auditors For For Mgmt 6 APPROVAL OF THE PROPOSAL OF THE BOARD TO For For Mgmt REDUCE THE SHARE CAPITAL THROUGH CANCELLATION OF NOKIA SHARES HELD BY THE COMPANY 7 APPROVAL OF THE AUTHORIZATION TO THE BOARD For For Mgmt TO INCREASE THE SHARE CAPITAL OF THE COMPANY. 8 APPROVAL OF THE AUTHORIZATION TO THE BOARD For For Mgmt TO REPURCHASE - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 12 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ NOKIA SHARES. 9 APPROVAL OF THE AUTHORIZATION TO THE BOARD For For Mgmt TO DISPOSE NOKIA SHARES HELD BY THE COMPANY. 10 APPROVAL OF THE PROPOSAL OF THE BOARD TO For For Mgmt INCREASE THE CAPITAL OF THE FOUNDATION OF NOKIA CORPORATION. 11 MARK THE FOR BOX IF YOU WISH TO INSTRUCT None Against Mgmt THE DEPOSITARY TO GIVE A PROXY TO ANY ONE OF MARIANNA UOTINEN-TARKOMA, ESA KAUNISTOLA, BOTH LEGAL COUNSELS OF NOKIA CORPORATION, TO AUTHORIZE ANY OF THEM (WITH FULL POWER OF SUBSTITUTION) TO VOTE, IN THEIR DISCR 05/18/04 - A NORTHROP GRUMMAN CORP. *NOC* 666807102 03/22/04 660 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Develop Ethical Criteria for Military Against Against ShrHoldr Contracts 4 Declassify the Board of Directors Against Against ShrHoldr 02/24/04 - A NOVARTIS AG H5820Q150 02/04/04 688 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Approve Discharge of the Board and Senior For For Mgmt Management 3 Approve Allocation of Income and Dividends For For Mgmt of CHF 1.00 per Share 4 Approve Transfer of CHF 360.9 Million from For For Mgmt General Reserves to Free Reserves 5 Approve CHF 12.1 Million Reduction in Share For For Mgmt Capital via Share Cancellation 6 Authorize Repurchase of up to Ten Percent For For Mgmt of Issued Share Capital 7 Amend Articles Re: Reduce Board Terms from For For Mgmt Four to Three Years 8.1 Approve Resignation of Walter Frehner and For For Mgmt Heini Lippuner - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 13 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 8 Elect Directors For Against Mgmt 9 Ratify PricewaterhouseCoopers AG as Auditors For For Mgmt 04/16/04 - A ** NOVELLUS SYSTEMS, INC. *NVLS* 670008101 02/17/04 1,640 1 Elect Directors For Withhold Mgmt 2 Ratify Auditors For Abstain Mgmt 3 Provision of Non-Audit Services by Against Abstain ShrHoldr Independent Auditors 4 Limit Executive Compensation Against Abstain ShrHoldr 07/10/03 - A NVIDIA CORPORATION *NVDA* 67066G104 05/15/03 565 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 06/10/04 - A PETSMART *PETM* 716768106 04/12/04 1,975 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/22/04 - A PFIZER INC. *PFE* 717081103 02/27/04 7,420 1 Elect Directors For For Mgmt 2 Ratify Auditors For Against Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Report on Operational Impact of HIV/AIDS, Against Against ShrHoldr TB, and Malaria Pandemic 5 Cease Political Contributions/Activities Against Against ShrHoldr 6 Report on Political Contributions/Activities Against Against ShrHoldr 7 Establish Term Limits for Directors Against Against ShrHoldr 8 Report on Drug Pricing Against Against ShrHoldr 9 Limit Awards to Executives Against Against ShrHoldr 10 Amend Animal Testing Policy Against Against ShrHoldr 02/27/04 - A SAMSUNG ELECTRONICS CO. LTD. 796050888 12/31/03 1,525 MEETING FOR HOLDERS OF ADRS 1 APPROVAL OF THE BALANCE SHEET, PROFIT AND For For Mgmt LOSS - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 14 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ STATEMENT AND STATEMENT OF APPROPRIATION OF RETAINED EARNINGS (DRAFT) FOR THE 35TH FISCAL YEAR (FROM JANUARY 1, 2003 TO DECEMBER 31, 2003), AS SET FORTH IN THE COMPANY S NOTICE OF MEETING. 2 APPROVAL OF THE APPOINTMENT OF GORAN S. For For Mgmt MALM AND KAP-HYUN LEE AS OUTSIDE DIRECTORS. 3 APPROVAL OF THE APPOINTMENT OF KAP-HYUN LEE For For Mgmt AS MEMBER OF THE AUDIT COMMITTEE. 4 APPROVAL OF THE APPOINTMENT OF HAK-SOO LEE For For Mgmt AS OTHER DIRECTOR. 5 APPROVAL OF THE CEILING AMOUNT OF THE For For Mgmt REMUNERATION FOR DIRECTORS, AS SET FORTH IN THE COMPANY S NOTICE OF MEETING. 06/23/04 - A/S ** SANOFI-SYNTHELABO (FORMERLY SANOFI) F5548N101 None 930 ORDINARY BUSINESS 1 Approve Financial Statements and Statutory For Abstain Mgmt Reports 2 Accept Consolidated Financial Statements For Abstain Mgmt and Statutory Reports 3 Approve Allocation of Income and Dividends For Abstain Mgmt of EUR 1.53 per Share 4 Approve Special Auditors' Report Regarding For Abstain Mgmt Related-Party Transactions 5 Authorize Repurchase of Up to Ten Percent For Abstain Mgmt of Issued Share Capital 6 Authorize Issuance of Bonds/Debentures in For Abstain Mgmt the Aggregate Value of EUR 7 Billion SPECIAL BUSINESS 7 Authorize Issuance of Equity or For Abstain Mgmt Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 750 Million; Set Global Limit for Capital Increase to Result from Issuance Requests in Items 7-10 at EUR 1.25 Billion - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 15 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 8 Authorize Issuance of Equity or For Abstain Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 750 Million 9 Allow Board to Issue Shares in the Event of For Abstain Mgmt a Public Tender Offer or Share Exchange Offer 10 Authorize Capitalization of Reserves of Up For Abstain Mgmt to EUR 500 Million for Bonus Issue or Increase in Par Value 11 Approve Capital Increase Reserved for For Abstain Mgmt Employees Participating in Savings-Related Share Purchase Plan 12 Approve Stock Option Plan Grants For Abstain Mgmt 13 Approve Reduction in Share Capital via For Abstain Mgmt Cancellation of Repurchased Shares 14 Authorize Capital Increase of Up to EUR For Abstain Mgmt 1.429 Billion for Aventis Exchange Offer 15 Change Company Name to Sanofi-Aventis For Abstain Mgmt 16 Amend Articles of Association to Reduce For Abstain Mgmt Term of Board Members from Five to Four Years 17 Amend Articles to Reflect 2003 Legal For Abstain Mgmt Changes Re: Powers of the Chairman 18 Reelect Jean-Francois Dehecq as Director For Abstain Mgmt (Representing Sanofi-Synthelabo) 19 Reelect Rene Barbier de la Serre as For Abstain Mgmt Director (Representing Sanofi-Synthelabo) 20 Reelect Robert Castaigne as Director For Abstain Mgmt (Representing Sanofi-Synthelabo) 21 Reelect Thierry Desmarest as Director For Abstain Mgmt (Representing Sanofi-Synthelabo) 22 Reelect Lindsay Owen-Jones as Director For Abstain Mgmt (Representing Sanofi-Synthelabo) 23 Reelect Bruno Weymuller as Director For Abstain Mgmt (Representing Sanofi-Synthelabo) 24 Confirm Appointment of Lord Douro as For Abstain Mgmt Director (Representing Sanofi-Synthelabo) 25 Confirm Appointment of Gerard Van Kemmel as For Abstain Mgmt Director (Representing Sanofi-Synthelabo) 26 Elect Christian Mulliez as Director For Abstain Mgmt (Representing Sanofi-Synthelabo) - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 16 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 27 Elect Jean-Marc Bruel as Director For Abstain Mgmt (Representing Aventis) 28 Elect Jurgen Dormann as Director For Abstain Mgmt (Representing Aventis) 29 Elect Jean-Rene Fourtou as Director For Abstain Mgmt (Representing Aventis) 30 Elect Serge Kampf as Director (Representing For Abstain Mgmt Aventis) 31 Elect Igor Landau as Director (Representing For Abstain Mgmt Aventis) 32 Elect Hubert Markl as Director For Abstain Mgmt (Representing Aventis) 33 Elect Klaus Pohle as Director (Representing For Abstain Mgmt Aventis) 34 Elect Hermann Scholl as Director For Abstain Mgmt (Representing Aventis) 35 Confirm End of Term of Permanent For Abstain Mgmt Representative of Elf Aquitaine, L'Oreal, Pierre Castres Saint-Martin, Pierre-Gilles de Gennes, and Herve Guerin as Directors 36 Approve Remuneration of Directors in the For Abstain Mgmt Aggregate Amount of Up to EUR 1 Million 37 Authorize Filing of Required For Abstain Mgmt Documents/Other Formalities 06/17/04 - A STAPLES, INC. *SPLS* 855030102 04/19/04 3,835 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Amend Employee Stock Purchase Plan For For Mgmt 5 Ratify Auditors For For Mgmt 6 Submit Shareholder Rights Plan (Poison Against Against ShrHoldr Pill) to Shareholder Vote 7 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 8 Limit Executive Compensation Against Against ShrHoldr 9 Prohibit Auditor from Providing Non-Audit Against Against ShrHoldr Services 05/07/04 - A STARWOOD HOTELS & RESORTS WORLDWIDE, 85590A203 03/19/04 4,465 INC. *HOT* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 17 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 3 Approve Omnibus Stock Plan For For Mgmt 4 Declassify the Board of Directors For For Mgmt 08/21/03 - A ** SYMANTEC CORP. *SYMC* 871503108 07/08/03 1,650 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Amend Stock Option Plan For For Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt 5 Ratify Auditors For For Mgmt 04/27/04 - A SYNGENTA AG H84140112 None 518 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Approve Discharge of Board and Senior For For Mgmt Management 3 Approve Allocation of Income and Omission For For Mgmt of Dividends 4 Approve CHF 191.4 Million Reduction in For For Mgmt Share Capital via Reduction in Par Value and Repayment to Shareholders 5 Amend Articles Re: Submission of For For Mgmt Shareholder Proposals 6 Authorize Repurchase of up to Ten Percent For For Mgmt of Issued Share Capital 7 Reelect Rupert Gasser, Heinz Imhof, and For Against Mgmt Michael Pragnell as Directors 8 Reelect Ernst and Young AG as Auditors For For Mgmt 04/27/04 - A SYNGENTA AG 87160A100 03/19/04 710 MEETING FOR HOLDERS OF ADRS 1 APPROVAL OF THE ANNUAL REPORT, THE ANNUAL For For Mgmt FINANCIAL STATEMENTS AND THE GROUP CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR 2003. 2 DISCHARGE OF THE MEMBERS OF THE BOARD OF For For Mgmt DIRECTORS AND THE EXECUTIVE COMMITTEE. 3 APPROPRIATION OF BALANCE SHEET PROFIT 2003. For For Mgmt 4 REDUCTION OF SHARE CAPITAL AND REPAYMENT OF For For Mgmt NOMINAL - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 18 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ VALUE OF SHARES. 5 AMENDMENT OF THE ARTICLES OF INCORPORATION. For For Mgmt 6 APPROVAL OF SHARE REPURCHASE. For For Mgmt 7 ELECTION TO THE BOARD OF DIRECTORS: For Against Mgmt RE-ELECTION OF: RUPERT GASSER 8 ELECTION TO THE BOARD OF DIRECTORS: For For Mgmt RE-ELECTION OF: HEINZ IMHOF 9 ELECTION TO THE BOARD OF DIRECTORS: For For Mgmt RE-ELECTION OF: MICHAEL PRAGNELL 10 RE-ELECTION OF ERNST & YOUNG AG AS AUDITORS For For Mgmt OF SYNGENTA AG AND GROUP AUDITORS FOR THE BUSINESS YEAR 2004. 05/26/04 - A SYNOPSYS, INC. *SNPS* 871607107 04/07/04 2,565 1 Elect Directors For For Mgmt 2 Amend Non-Employee Director Stock Option For Against Mgmt Plan 3 Ratify Auditors For For Mgmt 04/15/04 - A TEXAS INSTRUMENTS INC. *TXN* 882508104 02/17/04 5,660 1 Elect Directors For For Mgmt 2 Ratify Auditors For Against Mgmt 3 Expense Stock Options Against Against ShrHoldr 05/18/04 - A THE ALLSTATE CORP. *ALL* 020002101 03/19/04 2,360 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Executive Incentive Bonus Plan For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 5 Provide for Cumulative Voting Against For ShrHoldr 03/31/04 - A THE GOLDMAN SACHS GROUP, INC. *GS* 38141G104 02/02/04 2,415 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 19 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 3 Declassify the Board of Directors Against Against ShrHoldr 05/21/04 - A TIME WARNER INC *TWX* 887317105 03/23/04 18,210 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Adopt China Principles Against Against ShrHoldr 4 Report on Pay Disparity Against Against ShrHoldr 03/19/04 - S TRAVELERS PROPERTY CASUALTY CORP. 89420G406 02/06/04 1,000 1 Approve Merger Agreement For For Mgmt 03/25/04 - A TYCO INTERNATIONAL LTD. *TYC* 902124106 03/25/04 14,135 MEETING FOR HOLDERS OF ADRS 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 ADOPTION OF THE AMENDED AND RESTATED For For Mgmt BYE-LAWS. 4 APPROVAL OF TYCO 2004 STOCK AND INCENTIVE For For Mgmt PLAN. 5 SHAREHOLDER PROPOSAL REGARDING For Against ShrHoldr ENVIRONMENTAL REPORTING. 6 SHAREHOLDER PROPOSAL TO CHANGE TYCO S Against Against ShrHoldr JURISDICTION OF INCORPORATION FROM BERMUDA TO A U.S. STATE. 7 SHAREHOLDER PROPOSAL ON COMMON SENSE Against Against ShrHoldr EXECUTIVE COMPENSATION. 05/12/04 - A ** UNITEDHEALTH GROUP INCORPORATED 91324P102 03/15/04 4,830 *UNH* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against For ShrHoldr 4 Limit Awards to Executives Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 20 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 06/28/04 - S WELLPOINT HEALTH NETWORKS INC. *WLP* 94973H108 05/10/04 165 1 Approve Merger Agreement For For Mgmt 03/22/04 - A WHOLE FOODS MARKET, INC. *WFMI* 966837106 01/22/04 1,500 1 Elect Directors For For Mgmt 2 Amend Stock Option Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 05/21/04 - A YAHOO!, INC. *YHOO* 984332106 03/25/04 7,690 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Expense Stock Options Against Against ShrHoldr 11/28/03 - S ** YUKOS OIL COMPANY 98849W108 09/25/03 440 ELECT 11 DIRECTORS BY CUMULATIVE VOTING 1 Elect Directors For For Mgmt 2 Adopt New Charter For For Mgmt 3 Approve Dividends for First Nine Months of For For Mgmt 2003 06/24/04 - A YUKOS OIL COMPANY 98849W108 05/27/04 1,150 MEETING FOR HOLDERS OF ADRS 1 APPROVAL OF THE ANNUAL REPORT OF YUKOS OIL For For Mgmt COMPANY FOR 2003. 2 APPROVAL OF THE ANNUAL ACCOUNTING REPORTS, For For Mgmt INCLUDING THE PROFIT AND LOSS ACCOUNT, OF YUKOS OIL COMPANY FOR FY 2003. 3 APPROVAL OF DISTRIBUTION OF PROFIT OF YUKOS For For Mgmt OIL COMPANY FOR FY 2003, INCLUDING PAYMENT OF DIVIDEND ON COMMON SHARES - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 21 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF JANUS GROWTH LT FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ OF YUKOS OIL COMPANY, AND OF LOSSES FOR FY 2003. 4 ELECTION OF THE BOARD OF DIRECTORS OF YUKOS For For Mgmt OIL COMPANY. 5 ELECTION OF MURASHOVA ANTONINA B. TO THE For For Mgmt AUDITING COMMISSION OF YUKOS OIL COMPANY. 6 ELECTION OF BRITKOVA ELENA V. TO THE For For Mgmt AUDITING COMMISSION OF YUKOS OIL COMPANY. 7 ELECTION OF SERZHANOVA MARGARITA O. TO THE For For Mgmt AUDITING COMMISSION OF YUKOS OIL COMPANY. 8 APPROVAL OF THE AUDITOR OF YUKOS OIL For For Mgmt COMPANY FOR 2004. 9 APPROVAL OF THE TOTAL AMOUNT OF For For Mgmt REMUNERATION AND REIMBURSEMENTS OF DIRECTORS OF YUKOS OIL COMPANY FOR THE PERIOD 2004-2005. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 22 ** - Exception Vote A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 1 Receive Report of M Not Voted None Management Board Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 2 Discussion about Company's M Not Voted None Corporate Governance Report Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 3.1 Approve Financial M Not Voted For Statements and Statutory Reports Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 3.2 Approve Dividends M Not Voted For Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 3.3 Approve Discharge of M Not Voted For Management Board Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 3.4 Approve Discharge of M Not Voted For Supervisory Board Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 4 Approve Remuneration Policy M Not Voted For Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 5 Reappoint Ernst & Young as M Not Voted For Auditors Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 6.1 Reelect T. Maas-de Bouwer M Not Voted For to Supervisory Board Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 6.2 Elect A. Olijslager to M Not Voted For Supervisory Board Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 7.1 Abolish Antitakeover M Not Voted For Preference Shares through Repurchase and Cancellation of Shares Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 7.2 Amend Articles to Reflect M Not Voted For Cancellation of Preference Shares (Item 7.1) Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 8 Authorize Repurchase of Up M Not Voted For to Ten Percent of Issued Share Capital Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 9.1 Grant Board Authority to M Not Voted For Issue Ordinary Shares and Convertible Preference Shares Up to 20 Percent of Issued Share Capital Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 9.2 Grant Board Authority to M Not Voted For Exclude Preemptive Rights from Issuance Under Item 9.1 Abn Amro Holding Nv Netherlands 4/29/2004 Annual N0030P459 10 Other Business M Not Voted None Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 1 Accept Financial Statements M For For and Statutory Reports Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 2 Approve Dividend of EUR 35 M For For Cents Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 3a Elect Michael Buckley as a M For For Director Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 3b Elect Padraic Fallon as a M For For Director Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 3c Elect Dermot Gleeson as a M For For Director Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 3d Elect Derek Higgs as a M For For Director Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 3e Elect Gary Kennedy as a M For For Director Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 3f Elect John McGuckian as a M For For Director Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 4 Authorize Board to Fix M For For Remuneration of KPMG Auditors Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 5 Authorize Share Repurchase M For For of 90 Million Shares, Representing 10 Percent of the Share Capital Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 6 Authorize Reissuance of M For For Repurchased Shares Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 7 Approve Issuance of Equity M For For or Equity-Linked Securities without Preemptive Rights, Representing 5 Percent of the Share capital Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 8 Approve Stock Dividend M For For Program Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 9a Remove Adrian Burke as a S Against Against Director Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 9b Remove Colm Doherty as a S Against Against Director Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 9c Remove Don Godson as a S Against Against Director Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 9d Remove Aidan McKeon as a S Against Against Director Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 9e Remove Carol Moffett as a S Against Against Director Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 9f Remove Jim O'Leary as a S Against Against Director Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 9g Remove Michael Sullivan as S Against Against a Director Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 9h Remove Robert Wilmers as a S Against Against Director Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 10 Remove KPMG as Auditors S Against Against Allied Irish Bank Plc Ireland 4/29/2004 Annual G02072117 11 Appoint Niall Murphy, a S Against Against Shareholder Nominee, as a Director Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 1 Approve Financial M Not Voted For Rhone-Poulenc) Special Statements and Statutory Reports Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 2 Accept Consolidated M Not Voted For Rhone-Poulenc) Special Financial Statements and S Statutory Reports Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 3 Approve Allocation of M Not Voted For Rhone-Poulenc) Special Income and Dividends of EUR 1.23 per Share Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 4 Approve Special Auditors' M Not Voted For Rhone-Poulenc) Special Report Regarding Related-Party Transactions M Not Voted For Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 5 Authorize Repurchase of Up M Not Voted For Rhone-Poulenc) Special to Ten Percent of Issued Share Capital Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 6 Ratify Yves Nicolas as M Not Voted For Rhone-Poulenc) Special Alternate Auditor Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 7 Amend Article 7 to Reflect M Not Voted For Rhone-Poulenc) Special 2003 Legal Changes Re: Shareholding Disclosure Requirement Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 8 Amend Article 11 to Set M Not Voted For Rhone-Poulenc) Special Term of Management Board Members at Three Years, Down From Five Years Previously Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 9 Amend Article 13 to Set M Not Voted For Rhone-Poulenc) Special Term of Supervisory Board Members at Three Years, Down From Five Years Previously Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 10 Reelect Jean-Marc Bruel as M Not Voted For Rhone-Poulenc) Special Supervisory Board Member Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 11 Reelect Martin Fruhauf as M Not Voted For Rhone-Poulenc) Special Supervisory Board Member Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 12 Reelect Serge Kampf as M Not Voted For Rhone-Poulenc) Special Supervisory Board Member Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 13 Reelect Hubert Markl as M Not Voted For Rhone-Poulenc) Special Supervisory Board Member Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 14 Reelect Gunter Metz as M Not Voted For Rhone-Poulenc) Special Supervisory Board Member Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 15 Reelect Didier M Not Voted For Rhone-Poulenc) Special Pineau-Valencienne as Supervisory Board Member Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 16 Reelect Seham Razzouqi as M Not Voted For Rhone-Poulenc) Special Supervisory Board Member Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 17 Reelect Michel Renault as M Not Voted For Rhone-Poulenc) Special Supervisory Board Member Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 18 Reelect Hans-Jurgen M Not Voted For Rhone-Poulenc) Special Schinzler as Supervisory Board Member Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 19 Reelect Marc Vienot as M Not Voted For Rhone-Poulenc) Special Supervisory Board Member Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Aventis SA (Formerly France 6/11/2004 Annual/ F0590R100 20 Authorize Filing of M Not Voted For Rhone-Poulenc) Special Required Documents/Other Formalities Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 1 Approve Financial M Not Voted For Special Statements and Statutory Reports Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 2 Accept Consolidated M Not Voted For Special Financial Statements and Statutory Reports Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 3 Approve Allocation of M Not Voted For Special Income and Dividends of EUR 0.57 per Share Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 4 Approve Special Auditors' M Not Voted For Special Report Regarding Related-Party Transactions Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 5 Reelect Claude Bebear as M Not Voted For Special Supervisory Board Member Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 6 Ratify Mazars & Guerard as M Not Voted For Special Auditors Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 7 Ratify Jean Louis Simon as M Not Voted For Special Alternate Auditor Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 8 Elect Willy Avereyn as M Not Voted None Special Representative of Employee Shareholders to the Supervisory Board, Pending Approval of Item 13 Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 9 Elect Cees de Jong as M Not Voted None Special Representative of Employee Shareholders to the Supervisory Board, Pending Approval of Item 13 Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 10 Elect Jacques Tabourot as M Not Voted For Special Representative of Employee Shareholders to the Supervisory Board, Pending Approval of Item 13 Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 11 Authorize Repurchase of Up M Not Voted For Special to Ten Percent of Issued Share Capital Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 12 Allow Board to Issue Shares M Not Voted For Special in the Event of a Public Tender Offer or Share Exchange Offer Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 13 Amend Article 10 Re: M Not Voted For Special Appointment of Representative of Employee Shareholders to the Supervisory Board Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 14 Amend Article 10 Re: M Not Voted Against Special Appointment of Employee Representative to the Supervisory Board Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 15 Approve Reduction in Share M Not Voted For Special Capital via Cancellation of Repurchased Shares Axa (Formerly Axa-Uap) France 4/21/2004 Annual/ F06106102 16 Authorize Filing of M Not Voted For Special Required Documents/Other Formalities Barclays Plc United Kingdom 4/29/2004 Annual G08036124 1 Accept Financial Statements M For For and Statutory Reports Barclays Plc United Kingdom 4/29/2004 Annual G08036124 2 Approve Remuneration Report M For For Barclays Plc United Kingdom 4/29/2004 Annual G08036124 3 Elect Sir Richard Broadbent M For For as Director Barclays Plc United Kingdom 4/29/2004 Annual G08036124 4 Elect Roger Davis as M For For Director Barclays Plc United Kingdom 4/29/2004 Annual G08036124 5 Elect Gary Hoffman as M For For Director Barclays Plc United Kingdom 4/29/2004 Annual G08036124 6 Elect Naguib Kheraj as M For For Director Barclays Plc United Kingdom 4/29/2004 Annual G08036124 7 Elect David Roberts as M For For Director Barclays Plc United Kingdom 4/29/2004 Annual G08036124 8 Re-elect Sir Peter M For For Middleton as Director Barclays Plc United Kingdom 4/29/2004 Annual G08036124 9 Re-elect Stephen Russell M For For as Director Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Barclays Plc United Kingdom 4/29/2004 Annual G08036124 10 Re-elect Christopher M For For Lendrum as Director Barclays Plc United Kingdom 4/29/2004 Annual G08036124 11 Re-elect Sir Brian Jenkins M For For as Director Barclays Plc United Kingdom 4/29/2004 Annual G08036124 12 Re-appoint M For For PricewaterhouseCoopers LLP as Auditors of the Company Barclays Plc United Kingdom 4/29/2004 Annual G08036124 13 Authorize Board to Fix M For For Remuneration of the Auditors Barclays Plc United Kingdom 4/29/2004 Annual G08036124 14 Authorize Issuance of M For For Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 82,053,000 Barclays Plc United Kingdom 4/29/2004 Annual G08036124 15 Authorize 984,600,000 M For For Ordinary Shares for Market Purchase BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 1 Re-elect The Lord Browne of M For For Amoco Plc) Madingley as Director BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 2 Re-elect Byron Grote as M For For Amoco Plc) Director BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 3 Re-elect Michael Miles as M For For Amoco Plc) Director BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 4 Re-elect Sir Robin M For For Amoco Plc) Nicholson as Director BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 5 Re-elect Dick Olver as M For For Amoco Plc) Director BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 6 Re-elect Sir Ian Prosser as M For For Amoco Plc) Director BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 7 Elect Antony Burgmans as M For For Amoco Plc) Director BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 8 Re-appoint Ernst and Young M For For Amoco Plc) LLP as Auditors and Authorize Board to Fix Remuneration of Auditors BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 9 Amend Articles of M For For Amoco Plc) Association Re: Treasury Shares and Annual Retirement of Directors BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 10 Authorize Issuance of M For For Amoco Plc) Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of USD 1,820 Million BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 11 Authorize Issuance of M For For Amoco Plc) Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of USD 273 Million BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 12 Authorize 2.2 Billion M For For Amoco Plc) Shares for Market Purchase BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 13 Authorize the Company to M For For Amoco Plc) use Treasury Shares for the Purpose of the Employee Share Schemes Operated by the Company BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 14 Approve Remuneration Report M For For Amoco Plc) BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 15 Approve Increase in M For For Amoco Plc) Remuneration of Non-Executive Directors from GBP 1.5 Million to GBP 2.5 Million BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 16 Accept Financial Statements M For For Amoco Plc) and Statutory Reports BP PLC (Form. Bp United Kingdom 4/15/2004 Annual G12793181 17 Require the Company to S Against Against Amoco Plc) Prepare a Report Re: Mitigating Risks to Shareholder Value when Operating in Protected and Sensitive Areas Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 1 Accept Financial Statements M For For and Statutory Reports Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 2 Approve Final Dividend of M For For 8.35 Pence Per Ordinary Share Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 3 Approve Remuneration Report M For For Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 4 Re-elect John Sunderland as M For For Director Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 5 Elect Ken Hanna as Director M For For Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 6 Re-elect Rick Braddock as M For For Director Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 7 Re-elect Roger Carr as M For For Director Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 8 Re-elect David Thompson as M For For Director Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 9 Re-appoint Deloitte and M For For Touche LLP as Auditors of the Company Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 10 Authorize Board to Fix M For For Remuneration of the Auditors Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 11 Authorize Issuance of M For For Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 85.27 Million Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 12 Authorize Issuance of M For For Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 12.92 Million Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 13 Authorize 25.84 Million M For For Ordinary Shares for Market Purchase Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 14 Amend Cadbury Schweppes M For For Share Option Plan 1994 Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 15 Amend Cadbury Schweppes plc M For For 1997 Long-Term Incentive Plan Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 16 Approve Cadbury Schweppes M For For Bonus Share Retention Plan 2004 Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 17 Amend Overseas Employee M For For Share Schemes Cadbury Schweppes Plc United Kingdom 5/21/2004 Annual G17444152 18 Authorize the Board to M For For Establish Further Employees Share Plan or Plans Canon Inc. Japan 3/30/2004 Annual J05124144 1 Approve Allocation of M For For Income, Including the Following Dividends: Interim JY 15, Final JY 35, Special JY 0 Canon Inc. Japan 3/30/2004 Annual J05124144 2 Amend Articles to: M For For Authorize Share Repurchases at Board's Discretion Canon Inc. Japan 3/30/2004 Annual J05124144 3.1 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.2 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.3 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.4 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.5 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.6 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.7 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.8 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.9 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.1 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.11 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.12 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.13 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.14 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.15 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.16 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.17 Elect Director M For For Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Canon Inc. Japan 3/30/2004 Annual J05124144 3.18 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.19 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.2 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.21 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.22 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.23 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.24 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.25 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.26 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 3.27 Elect Director M For For Canon Inc. Japan 3/30/2004 Annual J05124144 4.1 Appoint Internal Statutory M For For Auditor Canon Inc. Japan 3/30/2004 Annual J05124144 4.2 Appoint Internal Statutory M For For Auditor Canon Inc. Japan 3/30/2004 Annual J05124144 4.3 Appoint Internal Statutory M For For Auditor Canon Inc. Japan 3/30/2004 Annual J05124144 5 Appoint Additional External M For For Auditor Canon Inc. Japan 3/30/2004 Annual J05124144 6 Approve Retirement Bonuses M For For for Directors and Statutory Auditors Canon Inc. Japan 3/30/2004 Annual J05124144 7 Approve Adjustment to M For For Aggregate Compensation Ceiling for Directors and Statutory Auditors Credit Suisse Group Switzerland 4/30/2004 Annual H3698D419 1 Accept Financial Statements M Not Voted For (Formerly Cs Holding) and Statutory Reports Credit Suisse Group Switzerland 4/30/2004 Annual H3698D419 2 Approve Discharge of Board M Not Voted For (Formerly Cs Holding) and Senior Management Credit Suisse Group Switzerland 4/30/2004 Annual H3698D419 3.1 Approve Allocation of M Not Voted For (Formerly Cs Holding) Income and Omission of Dividends Credit Suisse Group Switzerland 4/30/2004 Annual H3698D419 3.2 Approve CHF 597.5 Million M Not Voted For (Formerly Cs Holding) Reduction in Share Capital via Reduction in Par Value and Repayment to Shareholders Credit Suisse Group Switzerland 4/30/2004 Annual H3698D419 4.1 Reelect Thomas Bell and M Not Voted For (Formerly Cs Holding) Aziz Syriani as Directors; Elect Peter Weibel, Noreen Doyle, and David Syz as Directors Credit Suisse Group Switzerland 4/30/2004 Annual H3698D419 4.2 Reelect KPMG Klynveld Peat M Not Voted For (Formerly Cs Holding) Marwick Goerdeler SA as Auditors Credit Suisse Group Switzerland 4/30/2004 Annual H3698D419 4.3 Reelect BDO Sofirom as M Not Voted For (Formerly Cs Holding) Special Auditors Credit Suisse Group Switzerland 4/30/2004 Annual H3698D419 5.1 Amend Articles Re: M Not Voted For (Formerly Cs Holding) Submission of Shareholder Proposals Credit Suisse Group Switzerland 4/30/2004 Annual H3698D419 5.2 Amend Articles Re: Delete M Not Voted For (Formerly Cs Holding) Provisions Concerning Contributions In Kind Danske Bank AS Denmark 3/23/2004 Annual K22272114 1 Approve Financial M For For (Formerly Den Danske Statements and Discharge Bank) Directors; Approve Allocation of Income and Dividends of DKK 6.55 Per Share Danske Bank AS Denmark 3/23/2004 Annual K22272114 2 Reelect Joergen Moeller, M For For (Formerly Den Danske Niels Holm, Peter Hoejland, Bank) and Majken Schultz as Directors Danske Bank AS Denmark 3/23/2004 Annual K22272114 3 Reelect Grant Thornton and M For For (Formerly Den Danske KPMG as Auditors Bank) Danske Bank AS Denmark 3/23/2004 Annual K22272114 4 Authorize Repurchase of Up M For For (Formerly Den Danske to Ten Percent of Issued Bank) Share Capital Danske Bank AS Denmark 3/23/2004 Annual K22272114 5 Approve DKK 394.1 Million M For For (Formerly Den Danske Reduction in Share Capital Bank) via Share Cancellation Danske Bank AS Denmark 3/23/2004 Annual K22272114 6 Amend Articles Re: Quorum M Against For (Formerly Den Danske and Voting Majority Bank) Requirements Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Danske Bank AS Denmark 3/23/2004 Annual K22272114 7 Other Business (Non-Voting) M None None (Formerly Den Danske Bank) Diageo Plc (Formerly United Kingdom 10/22/2003 Annual G42089113 1 Accept Financial Statements M For For Guinness Plc) and Statutory Reports Diageo Plc (Formerly United Kingdom 10/22/2003 Annual G42089113 2 Approve Remuneration Report M For For Guinness Plc) Diageo Plc (Formerly United Kingdom 10/22/2003 Annual G42089113 3 Approve Final Dividend of M For For Guinness Plc) 15.7 Pence Per Share Diageo Plc (Formerly United Kingdom 10/22/2003 Annual G42089113 4 Reelect Lord Blyth as M For For Guinness Plc) Director Diageo Plc (Formerly United Kingdom 10/22/2003 Annual G42089113 5 Reelect Keith Oates as M For For Guinness Plc) Director Diageo Plc (Formerly United Kingdom 10/22/2003 Annual G42089113 6 Reelect Paul Walsh as M For For Guinness Plc) Director Diageo Plc (Formerly United Kingdom 10/22/2003 Annual G42089113 7 Approve KPMG Audit Plc as M For For Guinness Plc) Auditors and Authorize Board to Fix Their Remuneration Diageo Plc (Formerly United Kingdom 10/22/2003 Annual G42089113 8 Authorize Issuance of M For For Guinness Plc) Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 44,833,003 Diageo Plc (Formerly United Kingdom 10/22/2003 Annual G42089113 9 Authorize 309,885,718 M For For Guinness Plc) Shares for Share Repurchase Program Eni Spa Italy 5/25/2004 Annual/ T3643A145 1 Accept Financial M Not Voted For Special Statements, Consolidated Accounts, and Statutory Reports Eni Spa Italy 5/25/2004 Annual/ T3643A145 2 Approve Allocation of M Not Voted For Special Income Eni Spa Italy 5/25/2004 Annual/ T3643A145 3 Authorize Share Repurchase M Not Voted For Special Program Eni Spa Italy 5/25/2004 Annual/ T3643A145 4 Elect External Auditors for M Not Voted For Special the Three-Year Term 2004-2006 and Fix Remuneration of Auditors Eni Spa Italy 5/25/2004 Annual/ T3643A145 5 Amend Article 2 of the Set M Not Voted For Special of Rules Governing General Meetings of Eni Spa Eni Spa Italy 5/25/2004 Annual/ T3643A145 6 Approve Remuneration of M Not Voted For Special Directors Eni Spa Italy 5/25/2004 Annual/ T3643A145 1 Amend Articles To Reflect M Not Voted For Special New Italian Company Law Regulations Eni Spa Italy 5/25/2004 Annual/ T3643A145 2 Amend Articles 17, 19, and M Not Voted For Special 28 of the Company's Bylaws Eni Spa Italy 5/28/2004 Annual/ T3643A145 1 Accept Financial Statements,M Not Voted For Special Consolidated Accounts, and Statutory Reports Eni Spa Italy 5/28/2004 Annual/ T3643A145 2 Approve Allocation of M Not Voted For Special Income Eni Spa Italy 5/28/2004 Annual/ T3643A145 3 Authorize Share Repurchase M Not Voted For Special Program Eni Spa Italy 5/28/2004 Annual/ T3643A145 4 Elect External Auditors for M Not Voted For Special the Three-Year Term 2004-2006 and Fix Remuneration of Auditors Eni Spa Italy 5/28/2004 Annual/ T3643A145 5 Amend Article 2 of the Set M Not Voted For Special of Rules Governing General Meetings of Eni Spa Eni Spa Italy 5/28/2004 Annual/ T3643A145 6 Approve Remuneration of M Not Voted For Special Directors Eni Spa Italy 5/28/2004 Annual/ T3643A145 1 Amend Articles To Reflect M Not Voted For Special New Italian Company Law Regulations Eni Spa Italy 5/28/2004 Annual/ T3643A145 2 Amend Articles 17, 19, and M Not Voted For Special 28 of the Company's Bylaws GlaxoSmithKline PLC United Kingdom 5/17/2004 Annual G3910J112 1 Accept Financial Statements M For For (formerly Glaxo and Statutory Reports Wellcome Plc ) Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ GlaxoSmithKline PLC United Kingdom 5/17/2004 Annual G3910J112 2 Approve Remuneration Report M For For (formerly Glaxo Wellcome Plc ) GlaxoSmithKline PLC United Kingdom 5/17/2004 Annual G3910J112 3 Elect Lawrence Culp as M For For (formerly Glaxo Director Wellcome Plc ) GlaxoSmithKline PLC United Kingdom 5/17/2004 Annual G3910J112 4 Elect Crispin Davis as M For For (formerly Glaxo Director Wellcome Plc ) GlaxoSmithKline PLC United Kingdom 5/17/2004 Annual G3910J112 5 Elect Sir Robert Wilson as M For For (formerly Glaxo Director Wellcome Plc ) GlaxoSmithKline PLC United Kingdom 5/17/2004 Annual G3910J112 6 Elect Tachi Yamada as M For For (formerly Glaxo Director Wellcome Plc ) GlaxoSmithKline PLC United Kingdom 5/17/2004 Annual G3910J112 7 Re-elect Sir Christopher M For For (formerly Glaxo Hogg as Director Wellcome Plc ) GlaxoSmithKline PLC United Kingdom 5/17/2004 Annual G3910J112 8 Re-appoint M For For (formerly Glaxo PricewaterhouseCoopers LLP Wellcome Plc ) as Auditors of the Company GlaxoSmithKline PLC United Kingdom 5/17/2004 Annual G3910J112 9 Authorize Board to Fix M For For (formerly Glaxo Remuneration of the Auditors Wellcome Plc ) GlaxoSmithKline PLC United Kingdom 5/17/2004 Annual G3910J112 10 Authorize EU Political M For For (formerly Glaxo Donations up to Aggregate Wellcome Plc ) Nominal Amount of GBP 100,000 GlaxoSmithKline PLC United Kingdom 5/17/2004 Annual G3910J112 11 Authorize Issuance of M For For (formerly Glaxo Equity or Equity-Linked Wellcome Plc ) Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 74,330,954 GlaxoSmithKline PLC United Kingdom 5/17/2004 Annual G3910J112 12 Authorize 594,647,632 M For For (formerly Glaxo Ordinary Shares for Market Wellcome Plc ) Purchase Heineken Nv Netherlands 4/29/2004 Annual N39427195 1 Open Meeting M Not Voted None Heineken Nv Netherlands 4/29/2004 Annual N39427195 2 Approve Financial M Not Voted For Statements and Statutory Reports Heineken Nv Netherlands 4/29/2004 Annual N39427195 3 Approve Allocation of M Not Voted For Income Heineken Nv Netherlands 4/29/2004 Annual N39427195 4 Approve Discharge of M Not Voted For Management Board Heineken Nv Netherlands 4/29/2004 Annual N39427195 5 Approve Discharge of M Not Voted For Supervisory Board Heineken Nv Netherlands 4/29/2004 Annual N39427195 6 Approve Lowering in Par M Not Voted For Value from EUR 2 to EUR 1.60 via a 5:4 (Five New Shares for Every Four Currently Held) Stock Split Heineken Nv Netherlands 4/29/2004 Annual N39427195 7 Amend Articles Re: 5:4 M Not Voted For Stock Split; Editorial Changes Heineken Nv Netherlands 4/29/2004 Annual N39427195 8.1 Elect A. Risseeuwto M Not Voted For Supervisory Board Heineken Nv Netherlands 4/29/2004 Annual N39427195 8.2 Elect R. Overgaauw to M Not Voted Against Supervisory Board Heineken Nv Netherlands 4/29/2004 Annual N39427195 9.1 Elect K. Bueche to M Not Voted For Management Board Heineken Nv Netherlands 4/29/2004 Annual N39427195 9.2 Elect J. Buijs to M Not Voted Against Management Board Heineken Nv Netherlands 4/29/2004 Annual N39427195 10 Discussion about Company's M Not Voted None Corporate Governance Report HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 1 Accept Financial Statements M For For and Statutory Reports HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 2a Re-elect Lord Butler as M For For Director HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 2b Re-elect Baroness Lydia M For For Dunn as Director Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 2c Elect Rona Fairhead as M For For Director HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 2d Re-elect William Fung as M For For Director HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 2e Elect Michael Geoghegan as M For For Director HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 2f Re-elect Sharon Hintze as M For For Director HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 2g Re-elect John Kemp-Welch as M For For Director HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 2h Re-elect Sir Mark M For For Moody-Stuart as Director HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 2i Re-elect Helmut Sohmen as M For For Director HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 3 Re-appoint KPMG Audit Plc M For For as Auditors and Authorize Board to Fix Remuneration of Auditors HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 4 Approve Remuneration Report M For For HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 5 Authorize 1,099,900,000 M For For Ordinary Shares for Market Purchase HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 6 Auth. Issuance of M For For Non-Cumulative Pref. Shares with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 100,000, USD 100,000 and EUR 100,000; and Auth. Issuance of Ord. Shares with Pre-emptive Rights up to Aggregate Nominal Amount of USD 1,099,900,000 HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 7 Authorize Issuance of M For For Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of USD 274,975,000 HSBC Holdings Plc United Kingdom 5/28/2004 Annual G4634U169 8 Approve Increase in M For For Remuneration of Non-Executive Directors from GBP 35,000 to GBP 55,000 Per Annum Kao Corp. Japan 6/29/2004 Annual J30642169 1 Approve Allocation of M For For Income, Including the Following Dividends: Interim JY 16, Final JY 16, Special JY 0 Kao Corp. Japan 6/29/2004 Annual J30642169 2 Authorize Share Repurchase M For For Program Kao Corp. Japan 6/29/2004 Annual J30642169 3 Amend Articles to: M For For Authorize Share Repurchases at Board's Discretion Kao Corp. Japan 6/29/2004 Annual J30642169 4.1 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 4.2 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 4.3 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 4.4 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 4.5 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 4.6 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 4.7 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 4.8 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 4.9 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 4.1 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 4.11 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 4.12 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 4.13 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 4.14 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 4.15 Elect Director M For For Kao Corp. Japan 6/29/2004 Annual J30642169 5 Appoint Internal Statutory M For For Auditor Kao Corp. Japan 6/29/2004 Annual J30642169 6 Approve Executive Stock M For For Option Plan Kao Corp. Japan 6/29/2004 Annual J30642169 7 Approve Retirement Bonuses M For For for Directors Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Nestle Sa Switzerland 4/22/2004 Annual H57312466 1a Accept Financial Statements M Not Voted For and Statutory Reports Nestle Sa Switzerland 4/22/2004 Annual H57312466 1b Accept Consolidated M Not Voted For Financial Statements and Statutory Reports Nestle Sa Switzerland 4/22/2004 Annual H57312466 2 Approve Discharge of Board M Not Voted For and Senior Management Nestle Sa Switzerland 4/22/2004 Annual H57312466 3 Approve Allocation of M Not Voted For Income and Dividends of CHF 7.20 per Share Nestle Sa Switzerland 4/22/2004 Annual H57312466 4a Elect Edward George as M Not Voted For Directors Nestle Sa Switzerland 4/22/2004 Annual H57312466 4b Elect Kaspar Villiger as M Not Voted For Directors Nestle Sa Switzerland 4/22/2004 Annual H57312466 4c Elect Rolf Haenggi as M Not Voted For Directors Nestle Sa Switzerland 4/22/2004 Annual H57312466 4d Elect Daniel Borel as M Not Voted For Directors Nestle Sa Switzerland 4/22/2004 Annual H57312466 4e Elect Carolina Mueller as M Not Voted For Directors Nokia Corp. Finland 3/25/2004 Annual X61873133 1.1 Receive Financial M None None Statements Nokia Corp. Finland 3/25/2004 Annual X61873133 1.2 Receive Auditors' Report M None None Nokia Corp. Finland 3/25/2004 Annual X61873133 1.3 Accept Financial Statements and Statutory Reports M For For Nokia Corp. Finland 3/25/2004 Annual X61873133 1.4 Approve Discharge of Board M For For and President Nokia Corp. Finland 3/25/2004 Annual X61873133 1.5 Fix Number of Directors at M For For Eight (A Reduction from the Current Nine Directors) Nokia Corp. Finland 3/25/2004 Annual X61873133 1.6 Approve Remuneration of M For For Directors and Auditors Nokia Corp. Finland 3/25/2004 Annual X61873133 2 Approve Between EUR 5.7 M For For Million and EUR 8.8 Million Reduction in Share Capital via Cancellation of Between 94.5 Million and 146 Million Shares Nokia Corp. Finland 3/25/2004 Annual X61873133 3 Approve Issuance of Shares, M For For Stock Options, or Convertible Bonds up to Aggregate Nominal Value of EUR 55.5 Million (Out of Which EUR 3 Million for Incentive Plans) without Preemptive Rights Nokia Corp. Finland 3/25/2004 Annual X61873133 4 Authorize Repurchase of Up M For For to 230 Million Nokia Shares Nokia Corp. Finland 3/25/2004 Annual X61873133 5 Authorize Reissuance of 230 M For For Million Repurchased Shares Nokia Corp. Finland 3/25/2004 Annual X61873133 6 Approve Allocation of EUR 5 M For For Million to Company Foundation to Support the Scientific Development of the Information and Telecommunications Technologies and to Promote Education in the Sector Nokia Corp. Finland 3/25/2004 Annual X61873133 7 Approve Dividends of EUR M For For 0.30 Per Share Nokia Corp. Finland 3/25/2004 Annual X61873133 8 Reelect Paul Collins, Georg M For For Ehrnrooth, Bengt Holmstroem, Per Karlsson, Jorma Ollila, Marjorie Scardino, Vesa Vainio, and Arne Wessberg Nokia Corp. Finland 3/25/2004 Annual X61873133 9 Reelect M For For PricewaterhouseCoopers as Auditors Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Nomura Holdings Inc. Japan 6/25/2004 Annual J59009159 1 Amend Articles to: M For For Authorize Share Repurchases at Board's Discretion Nomura Holdings Inc. Japan 6/25/2004 Annual J59009159 2 Approve Executive Stock M For For Option Plan and Deep-Discount Stock Option Plan Nomura Holdings Inc. Japan 6/25/2004 Annual J59009159 3.1 Elect Director M For For Nomura Holdings Inc. Japan 6/25/2004 Annual J59009159 3.2 Elect Director M For For Nomura Holdings Inc. Japan 6/25/2004 Annual J59009159 3.3 Elect Director M For For Nomura Holdings Inc. Japan 6/25/2004 Annual J59009159 3.4 Elect Director M For For Nomura Holdings Inc. Japan 6/25/2004 Annual J59009159 3.5 Elect Director M For For Nomura Holdings Inc. Japan 6/25/2004 Annual J59009159 3.6 Elect Director M For For Nomura Holdings Inc. Japan 6/25/2004 Annual J59009159 3.7 Elect Director M For For Nomura Holdings Inc. Japan 6/25/2004 Annual J59009159 3.8 Elect Director M For For Nomura Holdings Inc. Japan 6/25/2004 Annual J59009159 3.9 Elect Director M For For Nomura Holdings Inc. Japan 6/25/2004 Annual J59009159 3.1 Elect Director M For For Nomura Holdings Inc. Japan 6/25/2004 Annual J59009159 3.11 Elect Director M For For Novartis AG Switzerland 2/24/2004 Annual H5820Q150 1 Accept Financial Statements M Not Voted For and Statutory Reports Novartis AG Switzerland 2/24/2004 Annual H5820Q150 2 Approve Discharge of the M Not Voted For Board and Senior Management Novartis AG Switzerland 2/24/2004 Annual H5820Q150 3 Approve Allocation of M Not Voted For Income and Dividends of CHF 1.00 per Share Novartis AG Switzerland 2/24/2004 Annual H5820Q150 4 Approve Transfer of CHF M Not Voted For 360.9 Million from General Reserves to Free Reserves Novartis AG Switzerland 2/24/2004 Annual H5820Q150 5 Approve CHF 12.1 Million M Not Voted For Reduction in Share Capital via Share Cancellation Novartis AG Switzerland 2/24/2004 Annual H5820Q150 6 Authorize Repurchase of up M Not Voted For to Ten Percent of Issued Share Capital Novartis AG Switzerland 2/24/2004 Annual H5820Q150 7 Amend Articles Re: Reduce M Not Voted For Board Terms from Four to Three Years Novartis AG Switzerland 2/24/2004 Annual H5820Q150 8.1 Approve Resignation of M Not Voted For Walter Frehner and Heini Lippuner Novartis AG Switzerland 2/24/2004 Annual H5820Q150 8.2 Elect Helmut Sihler, M Not Voted For Hans-Joerg Rudloff and Daniel Vasella as Directors Novartis AG Switzerland 2/24/2004 Annual H5820Q150 9 Ratify M Not Voted For PricewaterhouseCoopers AG as Auditors Richemont (Compagnie Switzerland 9/17/2003 Annual H25662141 1 Accept Financial Statements M Not Voted For Financiere Richemont and Statutory Reports Ag) Richemont (Compagnie Switzerland 9/17/2003 Annual H25662141 2 Approve Allocation of M Not Voted For Financiere Richemont income and Omission of Ag) Dividends Richemont (Compagnie Switzerland 9/17/2003 Annual H25662141 3 Approve Discharge of M Not Voted For Financiere Richemont Management Board Ag) Richemont (Compagnie Switzerland 9/17/2003 Annual H25662141 4 Reelect Rupert, Aeschimann, M Not Voted For Financiere Richemont Cologni, Du Plessis, Ag) Deschuyteneer, Douro, Istel, Kanoui, Quasha, Lord Renwick of Clifton, and Verloop as Directors; Elect Alan Perrin, Simon Murray, and Juergen Schrempp as New Directors Richemont (Compagnie Switzerland 9/17/2003 Annual H25662141 5 Reelect PwC as Auditors M Not Voted For Financiere Richemont Ag) Royal Dutch Petroleum Netherlands 6/28/2004 Annual N76277172 1 Receive Report of M Not Voted None Co. Management Board Royal Dutch Petroleum Netherlands 6/28/2004 Annual N76277172 2.1 Approve Financial M Not Voted For Co. Statements and Statutory Reports Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Royal Dutch Petroleum Netherlands 6/28/2004 Annual N76277172 2.2 Approve Total Dividend of M Not Voted For Co. EUR 1.76 Per Share Royal Dutch Petroleum Netherlands 6/28/2004 Annual N76277172 2.3 Approve Discharge of M Not Voted For Co. Management Board Royal Dutch Petroleum Netherlands 6/28/2004 Annual N76277172 2.4 Approve Discharge of M Not Voted For Co. Supervisory Board Royal Dutch Petroleum Netherlands 6/28/2004 Annual N76277172 3 Elect L. Cook to Management M Not Voted For Co. Board Royal Dutch Petroleum Netherlands 6/28/2004 Annual N76277172 4 Elect C. Morin-Postel to M Not Voted For Co. Supervisory Board Royal Dutch Petroleum Netherlands 6/28/2004 Annual N76277172 5 Reelect van de Bergh to M Not Voted For Co. Supervisory Board Royal Dutch Petroleum Netherlands 6/28/2004 Annual N76277172 6 Approve Reduction in Share M Not Voted For Co. Capital via Cancellation of Repurchased Shares Royal Dutch Petroleum Netherlands 6/28/2004 Annual N76277172 7 Authorize Repurchase of Up M Not Voted For Co. to Ten Percent of Issued Share Capital SanPaolo Imi Spa Italy 11/25/2003 Special T8249V104 1 Fix Number of Directors on M Not Voted For the Board; Elect Directors; Determine Directors' Term and Remuneration SanPaolo Imi Spa Italy 11/25/2003 Special T8249V104 1 Approve Merger by A M Not Voted For bsorption of Cardine Finanziaria Spa SanPaolo Imi Spa Italy 11/25/2003 Special T8249V104 2 Amend Articles of M Not Voted For Association SanPaolo Imi Spa Italy 4/28/2004 Annual T8249V104 1 Approve Financial Statements, Consolidated M Not Voted For Accounts, Statutory Reports, and Allocation of Income SanPaolo Imi Spa Italy 4/28/2004 Annual T8249V104 2 Fix Number of Directors on M Not Voted For the Board; Elect Directors for the Three-Year Term 2004-2006; Elect Chairman of the Board; Determine Directors' Remuneration SanPaolo Imi Spa Italy 4/28/2004 Annual T8249V104 3 Elect External Auditors for M Not Voted For the Three-Year Term 2004- 2006 and Fix Remuneration of Auditors SanPaolo Imi Spa Italy 4/28/2004 Annual T8249V104 4 Authorize Share Repurchase M Not Voted For Program and Reissuance of Repurchased Shares SanPaolo Imi Spa Italy 4/28/2004 Annual T8249V104 5 Appoint One Alternate M Not Voted For Internal Statutory Auditor to Reintegrate Members of the Board of Internal Statutory Auditors SanPaolo Imi Spa Italy 4/29/2004 Annual T8249V104 1 Approve Financial M Not Voted For Statements, Consolidated Accounts, Statutory Reports, and Allocation of Income SanPaolo Imi Spa Italy 4/29/2004 Annual T8249V104 2 Fix Number of Directors on M Not Voted For the Board; Elect Directors for the Three-Year Term 2004-2006; Elect Chairman of the Board; Determine Directors' Remuneration SanPaolo Imi Spa Italy 4/29/2004 Annual T8249V104 3 Elect External Auditors for M Not Voted For the Three-Year Term 2004- 2006 and Fix Remuneration of Auditors SanPaolo Imi Spa Italy 4/29/2004 Annual T8249V104 4 Authorize Share Repurchase M Not Voted For Program and Reissuance of Repurchased Shares SanPaolo Imi Spa Italy 4/29/2004 Annual T8249V104 5 Appoint One Alternate Internal Statutory Auditor M Not Voted For to Reintegrate Members of the Board of Internal Statutory Auditors Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ SanPaolo Imi Spa Italy 6/29/2004 Special T8249V104 1 Amend Articles Partially M Not Voted For To Reflect New Italian Company Law Regulations SanPaolo Imi Spa Italy 6/29/2004 Special T8249V104 2 Acquire Part of 'Fideuram M Not Voted For Vita Compagnia di Assicurazioni e Riassicurazioni Spa' From Its Spin-Off From 'Banca Fideuram Spa' SanPaolo Imi Spa Italy 6/30/2004 Special T8249V104 1 Amend Articles Partially To M Not Voted For Reflect New Italian Company Law Regulations SanPaolo Imi Spa Italy 6/30/2004 Special T8249V104 2 Acquire Part of 'Fideuram M Not Voted For Vita Compagnia di Assicurazioni e Riassicurazioni Spa' From Its Spin-Off From 'Banca Fideuram Spa' Societe Generale France 4/29/2004 Annual/ F43638141 1 Approve Financial M Not Voted For Special Statements and Statutory Reports Societe Generale France 4/29/2004 Annual/ F43638141 2 Approve Allocation of M Not Voted For Special Income and Dividends of EUR 3.75 per Share Societe Generale France 4/29/2004 Annual/ F43638141 3 Accept Consolidated M Not Voted For Special Financial Statements and Statutory Reports Societe Generale France 4/29/2004 Annual/ F43638141 4 Approve Special Auditors' M Not Voted For Special Report Regarding Related- Party Transactions Societe Generale France 4/29/2004 Annual/ F43638141 5 Ratify Appointment of Jean M Not Voted For Special Azema as Director Societe Generale France 4/29/2004 Annual/ F43638141 6 Reelect Philippe Citerne as M Not Voted For Special Director Societe Generale France 4/29/2004 Annual/ F43638141 7 Reelect Antoine Jeancourt M Not Voted For Special Galignani as Director Societe Generale France 4/29/2004 Annual/ F43638141 8 Reelect Euan Baird as M Not Voted For Special Director Societe Generale France 4/29/2004 Annual/ F43638141 9 Reelect Michel Cicurel as M Not Voted For Special Director Societe Generale France 4/29/2004 Annual/ F43638141 10 Authorize Repurchase of Up M Not Voted For Special to Ten Percent of Issued Share Capital Societe Generale France 4/29/2004 Annual/ F43638141 11 Amend Articles of M Not Voted For Special Association to Reflect 2003 Legal Changes Re: Internal Control Measures and Role of Chairman Societe Generale France 4/29/2004 Annual/ F43638141 12 Authorize Issuance of M Not Voted For Special EUR 900 Million Societe Generale France 4/29/2004 Annual/ F43638141 13 Authorize Issuance of M Not Voted For Special Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EURO 300 Million Societe Generale France 4/29/2004 Annual/ F43638141 14 Allow board to issue Shares M Not Voted For Special in the Event of a Public Tender Offer or Share Exchange Offer, Subject to Certain Conditions Societe Generale France 4/29/2004 Annual/ F43638141 15 Approve Capital Increase M Not Voted For Special Reserved for Employees Participating in Savings- Related Share Purchase Plan Societe Generale France 4/29/2004 Annual/ F43638141 16 Approve Stock Option Plan M Not Voted For Special Grants Societe Generale France 4/29/2004 Annual/ F43638141 17 Approve Reduction in Share M Not Voted For Special Capital via Cancellation of Repurchased Shares Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Societe Generale France 4/29/2004 Annual/ F43638141 18 Authorize Filing of M Not Voted For Special Required Documents/Other Formalities Societe Generale France 4/12/2004 Annual/ F43638141 1 Approve Financial M Not Voted For Special Statements and Statutory Reports Societe Generale France 4/12/2004 Annual/ F43638141 2 Approve Allocation of M Not Voted For Special Income and Dividends of EUR 3.75 per Share Societe Generale France 4/12/2004 Annual/ F43638141 3 Accept Consolidated M Not Voted For Special Financial Statements and Statutory Reports Societe Generale France 4/12/2004 Annual/ F43638141 4 Approve Special Auditors' M Not Voted For Special Report Regarding Related- Party Transactions Societe Generale France 4/12/2004 Annual/ F43638141 5 Ratify Appointment of Jean M Not Voted For Special Azema as Director Societe Generale France 4/12/2004 Annual/ F43638141 6 Reelect Philippe Citerne as M Not Voted For Special Director Societe Generale France 4/12/2004 Annual/ F43638141 7 Reelect Antoine Jeancourt M Not Voted For Special Galignani as Director Societe Generale France 4/12/2004 Annual/ F43638141 8 Reelect Euan Baird as M Not Voted For Special Director Societe Generale France 4/12/2004 Annual/ F43638141 9 Reelect Michel Cicurel as M Not Voted For Special Director Societe Generale France 4/12/2004 Annual/ F43638141 10 Authorize Repurchase of Up M Not Voted For Special to Ten Percent of Issued Share Capital Societe Generale France 4/12/2004 Annual/ F43638141 11 Amend Articles of M Not Voted For Special Association to Reflect 2003 Legal Changes Re: Internal Control Measures and Role of Chairman Societe Generale France 4/12/2004 Annual/ F43638141 12 Authorize Issuance of M Not Voted For Special Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 900 Million Societe Generale France 4/12/2004 Annual/ F43638141 13 Authorize Issuance of M Not Voted For Special Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 300 Million Societe Generale France 4/12/2004 Annual/ F43638141 14 Allow Board to Issue Shares M Not Voted For Special in the Event of a Public Tender Offer or Share Exchange Offer, Subject to Certain Conditions Societe Generale France 4/12/2004 Annual/ F43638141 15 Approve Capital Increase M Not Voted For Special Reserved for Employees Participating in Savings- Related Share Purchase Plan Societe Generale France 4/12/2004 Annual/ F43638141 16 Approve Stock Option Plan M Not Voted For Special Grants Societe Generale France 4/12/2004 Annual/ F43638141 17 Approve Reduction in Share M Not Voted For Special Capital via Cancellation of Repurchased Shares Societe Generale France 4/12/2004 Annual/ F43638141 18 Authorize Filing of M Not Voted For Special Required Documents/Other Formalities Swiss Reinsurance Switzerland 5/14/2004 Annual H84046137 1 Accept Financial Statements M Not Voted For (Schweizerische and Statutory Reports Rueckversicherungs) Swiss Reinsurance Switzerland 5/14/2004 Annual H84046137 2 Approve Discharge of Board M Not Voted For (Schweizerische and Senior Management Rueckversicherungs) Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Swiss Reinsurance Switzerland 5/14/2004 Annual H84046137 3 Approve Allocation of M Not Voted For (Schweizerische Income and Dividends of CHF Rueckversicherungs) 1.10 per Share Swiss Reinsurance Switzerland 5/14/2004 Annual H84046137 4 Approve Creation of CHF 2 M Not Voted For (Schweizerische Million Pool of Conditional Rueckversicherungs) Capital without Preemptive Rights Swiss Reinsurance Switzerland 5/14/2004 Annual H84046137 5.1a Reelect George Farr and M Not Voted For (Schweizerische Rajna Gibson as Directors Rueckversicherungs) Swiss Reinsurance Switzerland 5/14/2004 Annual H84046137 5.1b Elect Kaspar Villiger as M Not Voted For (Schweizerische Director Rueckversicherungs) Swiss Reinsurance Switzerland 5/14/2004 Annual H84046137 5.2 Reelect Pricewaterhouse M Not Voted For (Schweizerische Coopers Ltd as Auditors Rueckversicherungs) Tesco Plc United Kingdom 6/18/2004 Annual G87621101 1 Accept Financial Statements M For For and Statutory Reports Tesco Plc United Kingdom 6/18/2004 Annual G87621101 2 Approve Remuneration Report M For For Tesco Plc United Kingdom 6/18/2004 Annual G87621101 3 Approve Final Dividend of M For For 4.77 Pence Per Ordinary Share Tesco Plc United Kingdom 6/18/2004 Annual G87621101 4 Amend Articles of M For For Association Re: Director's Retirement Age Tesco Plc United Kingdom 6/18/2004 Annual G87621101 5 Re-elect Charles Allen as M For For Director Tesco Plc United Kingdom 6/18/2004 Annual G87621101 6 Re-elect Philip Clarke as M For For Director Tesco Plc United Kingdom 6/18/2004 Annual G87621101 7 Re-elect Harald Einsmann as M For For Director Tesco Plc United Kingdom 6/18/2004 Annual G87621101 8 Re-elect Veronique Morali M For For as Director Tesco Plc United Kingdom 6/18/2004 Annual G87621101 9 Re-elect Graham Pimlott as M For For Director Tesco Plc United Kingdom 6/18/2004 Annual G87621101 10 Elect Richard Brasher as M For For Director Tesco Plc United Kingdom 6/18/2004 Annual G87621101 11 Elect Ken Hydon as Director M For For Tesco Plc United Kingdom 6/18/2004 Annual G87621101 12 Elect Mervyn Davies as M For For Director Tesco Plc United Kingdom 6/18/2004 Annual G87621101 13 Elect David Reid as M For For Director Tesco Plc United Kingdom 6/18/2004 Annual G87621101 14 Re-appoint Pricewaterhouse M For For Coopers LLP as Auditors and Authorize Board to Fix Remuneration of Auditors Tesco Plc United Kingdom 6/18/2004 Annual G87621101 15 Approve Increase in M For For Authorized Share Capital from GBP 481,600,000 to GBP 530,000,000 Tesco Plc United Kingdom 6/18/2004 Annual G87621101 16 Approve Scrip Dividend M For For Tesco Plc United Kingdom 6/18/2004 Annual G87621101 17 Authorize Issuance of M For For Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 128.07 Million Tesco Plc United Kingdom 6/18/2004 Annual G87621101 18 Authorize Issuance of M For For Equity or Equity-Linked Securities without Pre- emptive Rights up to Aggregate Nominal Amount of GBP 19.21 Million Tesco Plc United Kingdom 6/18/2004 Annual G87621101 19 Authorize 768.44 Million M For For Ordinary Shares for Market Purchase Tesco Plc United Kingdom 6/18/2004 Annual G87621101 20 Authorize Tesco Stores CR M For For a.s. to Make EU Political Donations up to GBP 25,000 and Incur EU Political Expenditure up to GBP 25,000 Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Tesco Plc United Kingdom 6/18/2004 Annual G87621101 21 Authorize Tesco Stores SR M For For a.s. to Make EU Political Donations up to GBP 25,000 and Incur EU Political Expenditure up to GBP 25,000 Tesco Plc United Kingdom 6/18/2004 Annual G87621101 22 Authorize Tesco Global Rt M For For to Make EU Political Donations up to GBP 25,000 and Incur EU Political Expenditure up to GBP 25,000 Tesco Plc United Kingdom 6/18/2004 Annual G87621101 23 Authorize Tesco Polska Sp M For For z.o.o. to Make EU Political Donations up to GBP 25,000 and Incur EU Political Expenditure up to GBP 25,000 Tesco Plc United Kingdom 6/18/2004 Annual G87621101 24 Approve the Tesco PLC M For For Performance Share Plan 2004 Tesco Plc United Kingdom 6/18/2004 Annual G87621101 25 Approve the Tesco PLC 2004 M For For Discretionary Share Option Plan Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 1 Approve Financial M Not Voted For Total Fina Elf S.A ) Special Statements and Statutory Reports Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 2 Accept Consolidated M Not Voted For Total Fina Elf S.A ) Special Financial Statements and Statutory Reports Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 3 Approve Allocation of M Not Voted For Total Fina Elf S.A ) Special Income and Net Dividends of EUR 4.70 per Share Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 4 Approve Special Auditors' M Not Voted For Total Fina Elf S.A ) Special Report Regarding Related- Party Transactions Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 5 Authorize Repurchase of Up M Not Voted For Total Fina Elf S.A ) Special to Ten Percent of Issued Share Capital and Reissuance of Repurchased Shares Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 6 Authorize Issuance of Bonds M Not Voted For Total Fina Elf S.A ) Special /Debentures Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 7 Reelect Thierry Desmarest M Not Voted For Total Fina Elf S.A ) Special as Director Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 8 Reelect Thierry de Rudder M Not Voted For Total Fina Elf S.A ) Special as Director Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 9 Reelect Serge Tchuruk as M Not Voted For Total Fina Elf S.A ) Special Director Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 10 Elect Daniel Boeuf as M Not Voted For Total Fina Elf S.A ) Special Representative of Employee Shareholders to the Board Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 11 Elect Philippe Marchandise M Not Voted Against Total Fina Elf S.A ) Special as Representative of Employee Shareholders to the Board Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 12 Elect Cyril Mouche as M Not Voted Against Total Fina Elf S.A ) Special Representative of Employee Shareholders to the Board Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 13 Elect Alan Cramer as M Not Voted Against Total Fina Elf S.A ) Special Representative of Employee Shareholders to the Board Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 14 Ratify Ernst & Young Audit M Not Voted For Total Fina Elf S.A ) Special as Auditors Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 15 Ratify KPMG Audit as M Not Voted For Total Fina Elf S.A ) Special Auditors Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 16 Ratify Pierre Jouanne as M Not Voted For Total Fina Elf S.A ) Special Alternate Auditor Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 17 Ratify Jean-Luc Decornoy as M Not Voted For Total Fina Elf S.A ) Special Alternate Auditor Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 18 Approve Remuneration of M Not Voted For Total Fina Elf S.A ) Special Directors in the Aggregate Amount of EUR 900,000 Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 19 Approve Stock Option Plan M Not Voted For Total Fina Elf S.A ) Special Grants Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 20 Authorize Issuance of M Not Voted For Total Fina Elf S.A ) Special Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 4 Billion Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 21 Authorize Issuance of M Not Voted For Total Fina Elf S.A ) Special Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 2 Billion Total S.A. (Formerly France 5/14/2004 Annual/ F92124100 22 Approve Capital Increase M Not Voted For Total Fina Elf S.A ) Special Reserved for Employees Participating in Savings- Related Share Purchase Plan Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 1 Approve Financial M Not Voted For Total Fina Elf S.A ) Special Statements and Statutory Reports Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 2 Accept Consolidated M Not Voted For Total Fina Elf S.A ) Special Financial Statements and Statutory Reports Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 3 Approve Allocation of M Not Voted For Total Fina Elf S.A ) Special Income and Net Dividends of EUR 4.70 per Share Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 4 Approve Special Auditors' M Not Voted For Total Fina Elf S.A ) Special Report Regarding Related- Party Transactions Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 5 Authorize Repurchase of Up M Not Voted For Total Fina Elf S.A ) Special to Ten Percent of Issued Share Capital and Reissuance of Repurchased Shares Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 6 Authorize Issuance of Bonds/M Not Voted For Total Fina Elf S.A ) Special Debentures Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 7 Reelect Thierry Desmarest M Not Voted For Total Fina Elf S.A ) Special as Director Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 8 Reelect Thierry de Rudder M Not Voted For Total Fina Elf S.A ) Special as Director Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 9 Reelect Serge Tchuruk as M Not Voted For Total Fina Elf S.A ) Special Director Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 10 Elect Daniel Boeuf as M Not Voted For Total Fina Elf S.A ) Special Representative of Employee Shareholders to the Board Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 11 Elect Philippe Marchandise M Not Voted Against Total Fina Elf S.A ) Special as Representative of Employee Shareholders to the Board Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 12 Elect Cyril Mouche as M Not Voted Against Total Fina Elf S.A ) Special Representative of Employee Shareholders to the Board Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 13 Elect Alan Cramer as M Not Voted Against Total Fina Elf S.A ) Special Representative of Employee Shareholders to the Board Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 14 Ratify Ernst & Young Audit M Not Voted For Total Fina Elf S.A ) Special as Auditors Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 15 Ratify KPMG Audit as M Not Voted For Total Fina Elf S.A ) Special Auditors Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 16 Ratify Pierre Jouanne as M Not Voted For Total Fina Elf S.A ) Special Alternate Auditor Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 17 Ratify Jean-Luc Decornoy as M Not Voted For Total Fina Elf S.A ) Special Alternate Auditor Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 18 Approve Remuneration of M Not Voted For Total Fina Elf S.A ) Special Directors in the Aggregate Amount of EUR 900,000 Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 19 Approve Stock Option Plan M Not Voted For Total Fina Elf S.A ) Special Grants Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 20 Authorize Issuance of M Not Voted For Total Fina Elf S.A ) Special Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 4 Billion Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 21 Authorize Issuance of M Not Voted For Total Fina Elf S.A ) Special Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 2 Billion Total S.A. (Formerly France 4/28/2004 Annual/ F92124100 22 Approve Capital Increase M Not Voted For Total Fina Elf S.A ) Special Reserved for Employees Participating in Savings-Related Share Purchase Plan Ubs Ag Switzerland 4/15/2004 Annual H8920M855 1 Accept Financial Statements M Not Voted For and Statutory Reports Ubs Ag Switzerland 4/15/2004 Annual H8920M855 2 Approve Allocation of M Not Voted For Income and Dividends of CHF 2.60 per Share Ubs Ag Switzerland 4/15/2004 Annual H8920M855 3 Approve Discharge of Board M Not Voted For and Senior Management Ubs Ag Switzerland 4/15/2004 Annual H8920M855 4.1 Reelect Peter Davis as M Not Voted For Director Ubs Ag Switzerland 4/15/2004 Annual H8920M855 4.2.1 Elect Stephan Haeringer as M Not Voted For Director Ubs Ag Switzerland 4/15/2004 Annual H8920M855 4.2.2 Elect Helmut Panke as M Not Voted For Director Ubs Ag Switzerland 4/15/2004 Annual H8920M855 4.2.3 Elect Peter Spuhler as M Not Voted For Director Ubs Ag Switzerland 4/15/2004 Annual H8920M855 4.3 Ratify Ernst and Young as M Not Voted For Auditors Ubs Ag Switzerland 4/15/2004 Annual H8920M855 5.1 Approve CHF 47.6 Million M Not Voted For Reduction in Share Capital via Cancellation of Shares Ubs Ag Switzerland 4/15/2004 Annual H8920M855 5.2 Authorize Repurchase of M Not Voted For Issued Share Capital Unilever Plc United Kingdom 5/12/2004 Annual G92087124 1 Accept Financial Statements M For For and Statutory Reports Unilever Plc United Kingdom 5/12/2004 Annual G92087124 2 Approve Remuneration Report M For For Unilever Plc United Kingdom 5/12/2004 Annual G92087124 3 Approve Final Dividend of M For For 11.92 Pence Per Ordinary Share Unilever Plc United Kingdom 5/12/2004 Annual G92087124 4 Re-elect Niall Fitzgerald M For For as Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 5 Re-elect Antony Burgmans as M For For Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 6 Re-elect Clive Butler as M For For Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 7 Re-elect Patrick Cescau as M For For Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 8 Re-elect Keki Dadiseth as M For For Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 9 Re-elect Andre baron van M For For Heemstra as Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 10 Re-elect Rudy Markham as M For For Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 11 Elect Kees van der Graaf as M For For Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 12 Re-elect Lord Brittan of M For For Spennithorne as Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 13 Re-elect Baroness Chalker M For For of Wallasey as Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 14 Re-elect Bertrand Collomb M For For as Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 15 Re-elect Wim Dik as M For For Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 16 Re-elect Oscar Fanjul as M For For Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 17 Re-elect Claudio Gonzalez M For For as Director Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF LAZARD INTERNATIONAL VALUE FUND Company Country Mtg Mtg Ballot Item Vote Mgmt Date Type Security Issues Description Prpnent Cast Rec - ------------------------------------------------------------------------------------------------------------------------------------ Unilever Plc United Kingdom 5/12/2004 Annual G92087124 18 Re-elect Hilmar Kopper as M For For Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 19 Re-elect The Lord Simon of M For For Highbury as Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 20 Re-elect Jeroen van der M For For Veer as Director Unilever Plc United Kingdom 5/12/2004 Annual G92087124 21 Re-appoint M For For PricewaterhouseCoopers LLP as Auditors of the Company Unilever Plc United Kingdom 5/12/2004 Annual G92087124 22 Authorize Board to Fix M For For Remuneration of the Auditors Unilever Plc United Kingdom 5/12/2004 Annual G92087124 23 Authorize Issuance of M For For Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 13,450,000 Unilever Plc United Kingdom 5/12/2004 Annual G92087124 24 Authorize Issuance of M For For Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 2 Million Unilever Plc United Kingdom 5/12/2004 Annual G92087124 25 Authorize 290 Million M For For Ordinary Shares for Market Purchase Unilever Plc United Kingdom 5/12/2004 Annual G92087124 26 Amend Articles of M For For Association Re: New Corporate Governance Arrangements Unilever Plc United Kingdom 5/12/2004 Annual G92087124 27 Amend Articles of Association Re: Treasury M For For Shares Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 1 Accept Financial Statements and Statutory Reports M For For Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 2 Approve Remuneration Report M For For Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 3 Reelect Lord MacLaurin of M For For Knebworth as Director Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 4 Reelect Kenneth Hydon as M For For Director Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 5 Reelect Thomas Geitner as M For For Director Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 6 Reelect Alec Broers as M For For Director Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 7 Reelect Juergen Schrempp as M For For Director Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 8 Elect John Buchanan as M For For Director Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 9 Approve Final Dividend of M For For 0.8983 Pence Per Share Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 10 Ratify Deloitte and Touche M For For as Auditors Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 11 Authorize Board to Fix M For For Remuneration of Auditors Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 12 Authorize EU Political M For For Donations up to GBP 100,000 Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 13 Authorize Issuance of M For For Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of USD 900,000,000 Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 14 Authorize Issuance of M For For Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of USD 340,000,000 Vodafone Group PLC United Kingdom 7/30/2003 Annual G93882101 15 Authorize 6,800,000,000 M For For Shares for Share Repurchase Program Mgmt Rec - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 07/04/03 - S KINGFISHER PLC G5256E359 None 12,380 1 Approve Demerger of Kingfisher Plc's For For Mgmt Electrical Business to Kesa Electricals Plc By Way of Dividend in Specie 2 Approve Capital Reorganization For For Mgmt 3 Approve Kesa Group Sharesave Scheme and For For Mgmt Kesa Group International Sharesave Plan and Authorize Directors to Modify and Establish Such Plans 4 Approve Kesa Group Demerger Award Plan and For For Mgmt Authorize Directors to Modify and Establish Such Plans 5 Approve Kesa Group Incentive Compensation For For Mgmt Plan and Authorize Directors to Modify and Establish Such Plans 6 Approve Kesa Group Employee Benefit Trust For For Mgmt and Authorize Directors to Modify and Establish Such Plans 07/09/03 - A BANK OF IRELAND GROUP G49374146 None 3,100 1 Receive and Consider Financial Statements For For Mgmt and Statutory Reports 2 Confirm and Declare a Final Dividend For For Mgmt 3a Reelect Roy Bailie as a Director For For Mgmt 3b Reelect Laurence Crowley as a Director For For Mgmt 3c Reelect Donal Geaney as a Director For For Mgmt 3d Reelect Denis O'Brien as a Director For For Mgmt 3e Reelect John O'Donovan as a Director For For Mgmt 4 Authorize Board to Fix Remuneration of the For For Mgmt Auditors 5 Authorize Repurchase 98,493,220 Ordinary For For Mgmt Shares; 1,876,090 Sterling Preference Shares; and 3,026,598 Euro Preference Shares 6 Authorize Reissuance of Repurchased Shares For For Mgmt 7 Authorize Board to Allot Up to EUR 31.84 For For Mgmt million in Equity Securities for Cash without Preemptive Rights 8 Authorize Board to Allot Equity Securities For For Mgmt Representing 15 Percent of the Issued Share Capital, without Preemptive Rights, For Purposes Other Than Cash - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 1 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 07/18/03 - A DELL INC. *DELL* 247025109 05/23/03 740 1 Elect Directors For For Mgmt 2 Declassify the Board of Directors For For Mgmt 3 Change Company Name For For Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt 07/22/03 - S HUANENG POWER INTERNATIONAL INC. Y3744A105 07/02/03 38,000 1 Approve Transfer Agreement Entered into by For For Mgmt Huaneng Power International Inc and China Huaneng Group 2.1 Approve Guarantee Agreements Entered into For For Mgmt by China Huaneng Group and its Subsidiaries 2.2 Approve Loan Borrowing Agreement Entered For For Mgmt into by China Huaneng Group and Shanxi Huaneng Yushe Power Limited Liability Company 2.3 Approve Deposit and Borrowing Agreements For For Mgmt Entered Among Henan Huaneng Qinbei Power Generation Ltd, Shanxi Huaneng Yushe Power Ltd, China Huaneng Group Xindian Power Plant, and China Huaneng Finance Co 07/23/03 - A TENET HEALTHCARE CORP. *THC* 88033G100 06/02/03 100 1 Elect Directors For For Mgmt 2 Declassify the Board of Directors For For Mgmt 3 Ratify Auditors For For Mgmt SHAREHOLDER PROPOSAL 4 Require Majority of Independent Directors Against Against ShrHoldr on Board 07/24/03 - A BANK LEUMI LE-ISRAEL M16043107 07/14/03 4,360 1 Receive and Discuss Financial Statements For For Mgmt and Statutory Reports for the Year Ending December 31, 2002 (Voting) 2 Refrain from Distrubution of Final Dividend For For Mgmt 3 Elect Meir Dayan as External Director For For Mgmt 4a Re-elect Barouch Bahat as Director For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 2 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 4b Re-elect Renana Gutman as Director For For Mgmt 4c Re-elect Rena Shashua-Hasson as Director For For Mgmt 5a Elect Yaakov Goldman as Director For For Mgmt 5b Elect Nurit Segal as Director For For Mgmt 6 Approve Remuneration of Directors and For For Mgmt External Directors in the Amount of NIS 1,785 ($417) Per Meeting and NIS 46,536 ($10,872) Per Year 7 Approve Luboshitz Kasierer and Somekh For For Mgmt Chaikin as Auditors and Authorize Board to Fix Their Remuneration 8 Approve Resolutions Concerning Approval of For Against Mgmt Holding Positions and Disclosures by Officers, According to Text Presented to the General Meeting 07/30/03 - A VODAFONE GROUP PLC 92857W100 None 893 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Approve Remuneration Report For For Mgmt 3 Reelect Lord MacLaurin of Knebworth as For For Mgmt Director 4 Reelect Kenneth Hydon as Director For For Mgmt 5 Reelect Thomas Geitner as Director For For Mgmt 6 Reelect Alec Broers as Director For For Mgmt 7 Reelect Juergen Schrempp as Director For For Mgmt 8 Elect John Buchanan as Director For For Mgmt 9 Approve Final Dividend of 0.8983 Pence Per For For Mgmt Share 10 Ratify Deloitte and Touche as Auditors For For Mgmt 11 Authorize Board to Fix Remuneration of For For Mgmt Auditors 12 Authorize EU Political Donations up to GBP For For Mgmt 100,000 13 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of USD 900,000,000 14 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of USD 340,000,000 15 Authorize 6,800,000,000 Shares for Share For For Mgmt Repurchase Program - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 3 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 07/30/03 - A VODAFONE GROUP PLC G93882101 None 27,330 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Approve Remuneration Report For For Mgmt 3 Reelect Lord MacLaurin of Knebworth as For For Mgmt Director 4 Reelect Kenneth Hydon as Director For For Mgmt 5 Reelect Thomas Geitner as Director For For Mgmt 6 Reelect Alec Broers as Director For For Mgmt 7 Reelect Juergen Schrempp as Director For For Mgmt 8 Elect John Buchanan as Director For For Mgmt 9 Approve Final Dividend of 0.8983 Pence Per For For Mgmt Share 10 Ratify Deloitte and Touche as Auditors For For Mgmt 11 Authorize Board to Fix Remuneration of For For Mgmt Auditors 12 Authorize EU Political Donations up to GBP For For Mgmt 100,000 13 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of USD 900,000,000 14 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of USD 340,000,000 15 Authorize 6,800,000,000 Shares for Share For For Mgmt Repurchase Program 07/31/03 - S KOREA ELECTRIC POWER CORP Y48406105 06/30/03 590 1 Elect Directors For For Mgmt 2 Amend Articles of Incorporation Re: For For Mgmt Preemptive Rights 08/13/03 - S AUSTRALIA & NZ BANKING GROUP LTD. Q09504137 None 2,704 (FORMERLY AUSTRALIA & NEW 1 Confirm Member Approval to the Buy-Back For For Mgmt Agreement Relating to the Redeemable Preference Shares Issued by the Company in 1998 2 Amend Constitution For For Mgmt 3 Approve Issuance of 12.5 Million Reset For For Mgmt Convertible Preference Shares - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 4 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 08/15/03 - A MICROCHIP TECHNOLOGY, INC. *MCHP* 595017104 06/20/03 200 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 08/20/03 - S CHINA TRUST FINANCIAL HOLDINGS COMPANY Y15093100 07/21/03 15,000 LTD. 1.1 Receive Report on Issuance of 2003 None None Mgmt Corporate Bonds 2.1 Approve Equity Swap to Acquire Grand For For Mgmt Commercial Bank 2.2 Amend Articles of Association For For Mgmt 3.1 Other Business None None Mgmt 08/22/03 - A ABSA GROUP LTD (FORMERLY AMALGAMATED S0269H108 None 1,950 BANKS OF SOUTH AFRICA) ORDINARY BUSINESS 1 Accept Company and Group Financial For For Mgmt Statements and Statutory Reports 2 Approve Current Remuneration of Directors For For Mgmt 3 Approve Proposed Remuneration of Directors For For Mgmt 4 Approve Simultaneous Re-Appointment of For For Mgmt Retiring Directors 5 Elect Directors For For Mgmt 6 Elect Directors For For Mgmt 7 Approve Increase in Authorized Capital to For For Mgmt ZAR 1.6 Billion 8 Place Authorized But Unissued Shares under For For Mgmt Control of Directors Pursuant to Absa Share Incentive Scheme 9 Place Authorized But Unissued Shares under For For Mgmt Control of Directors 10 Approve Issuance of Shares without For For Mgmt Preemptive Rights up to a Maximum of 15 Percent of Issued Capital 11 Authorize Repurchase of Up to 20 Percent of For For Mgmt Issued Share Capital - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 5 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 08/22/03 - S ABSA GROUP LTD (FORMERLY AMALGAMATED S0269H108 None 1,950 BANKS OF SOUTH AFRICA) 1 Amend Articles Re: Odd Lot Offers For For Mgmt 2 Authorize Repurchase of Shares Pursuant to For For Mgmt Odd-Lot Offer 3 Approve Odd-Lot Offer For For Mgmt 4 Approve Issuance of Shares with Preemptive For For Mgmt Rights Pursuant to Odd-Lot Offer 5 Authorize Board to Ratify and Execute For For Mgmt Approved Resolutions 08/28/03 - A MEDTRONIC, INC. *MDT* 585055106 07/03/03 380 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For Against Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt 08/29/03 - A SINGAPORE TELECOMMUNICATIONS LTD. Y79985126 None 65,000 1 Adopt Financial Statements and Directors' For For Mgmt and Auditors' Reports 2 Declare Final Dividend of SGD 0.055 Per For For Mgmt Share 3 Reelect Lee Hsien Yang as Director For For Mgmt 4 Reelect Quek Poh Huat as Director For For Mgmt 5 Reelect Heng Swee Keat as Director For For Mgmt 6 Reelect Simon Israel as Director For For Mgmt 7 Reelect Tommy Koh as Director For For Mgmt 8 Approve Directors' Fees of SGD 675,375 and For For Mgmt SGD 855,375 for the Year Ended Mar. 31, 2003 9 Appoint Auditors and Authorize Board to Fix For For Mgmt Their Remuneration 10 Approve Issuance of Shares and Grant of For For Mgmt Options Pursuant to the Share Option Scheme 1999 08/29/03 - S SINGAPORE TELECOMMUNICATIONS LTD. Y79985126 None 65,000 1 Approve Performance Share Plan For For Mgmt 2 Approve Performance Share Plan for Purposes For For Mgmt of Exception to the Listing - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 6 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Rule of the Australian Stock Exchange 3 Approve Issuance of Shares and Grant of For For Mgmt Options Pursuant to the Performance Share Plan 4 Authorize Share Repurchase Program For For Mgmt 5 Amend Articles of Association For For Mgmt 6 Approve Issuance of Shares without For For Mgmt Preemptive Rights 09/16/03 - S KOREA EXCHANGE BANK Y48585106 08/13/03 1,540 1 Approve Issuance of New Shares Below Par For For Mgmt Value and Setting of Minimum Issue Price for Such Shares 2 Amend Articles of Incorporation For For Mgmt 3 Elect Directors For For Mgmt 4 Elect Members of Audit Committee For For Mgmt 5 Approve Stock Option Grants For For Mgmt 09/29/03 - A FEDEX CORPORATION *FDX* 31428X106 08/04/03 200 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt SHAREHOLDER PROPOSAL 4 Declassify the Board of Directors Against For ShrHoldr 09/29/03 - A MTN GROUP LTD.(FORMERLY M-CELL) S8039R108 None 3,320 ORDINARY BUSINESS 1 Accept Company and Group Financial For For Mgmt Statements and Statutory Reports for Year Ended Mar. 31, 2003 2 Approve Simultaneous Re-Appointment of For For Mgmt Retiring Directors 3 Elect Directors For For Mgmt 4 Elect Directors For For Mgmt 5 Authorize Repurchase of Up to 20 Percent of For For Mgmt Issued Share Capital 6 Place Authorized But Unissued Shares under For For Mgmt Control of Directors 7 Waive Preemptive Rights for Share Issuances For For Mgmt 8 Approve Remuneration of Directors for Year For For Mgmt Ending Mar. 31, 2004 9 Approve Extension of Three Year Service For Against Mgmt Contract of P.F. Nhleko to Five - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 7 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Years 10 Amend Share Incentive Scheme Re: Pricing of For For Mgmt Options, Payment of Purchase Price, and Exercise of Options 11 Authorize Board to Ratify and Execute For For Mgmt Approved Resolutions 09/29/03 - S PT BANK MANDIRI (PERSERO) TBK Y7123S108 09/11/03 21,000 1 Amend Articles of Association For Against Mgmt 2 Approve Ernst & Young as Auditors and For For Mgmt Authorize Board to Fix Their Remuneration 3 Authorize Commissioners to Determine Limit For Against Mgmt of the Uncollectable Principal Credit Written Off Accounts 4 Elect Directors and Commissioners For For Mgmt 5 Other Business For For Mgmt 10/06/03 - S BOSTON SCIENTIFIC CORP. *BSX* 101137107 08/27/03 100 1 Increase Authorized Common Stock For For Mgmt 10/06/03 - S FRANCE TELECOM SA F4113C103 None 2,510 ORDINARY BUSINESS 1 Amend Terms of Share Repurchase Plan For ** Mgmt Submitted to Shareholder Vote at May 27, 2003, AGM/EGM SPECIAL BUSINESS 2 Authorize Board to Issue Up to 100 Million For ** Mgmt Shares to Participants of Orange's Stock Option Plan, Share Purchase Plan, Orange Senior Discretionary Share Plan and Restricted Share Plan, As Well As Signatories of France Telecom Liquidity Agreement 3 Approve Capital Increase Reserved for For ** Mgmt Employees Participating in Savings-Related Share Purchase Plan 4 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 8 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 10/07/03 - S APASCO S.A. DE C.V. P04102151 None 890 1 Amend Articles For Against Mgmt 2 Designate Inspector or Shareholder For For Mgmt Representative(s) of Minutes of Meeting 10/13/03 - A ORACLE CORP. *ORCL* 68389X105 08/21/03 3,070 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Amend Non-Employee Director Omnibus Stock For Against Mgmt Plan SHAREHOLDER PROPOSAL 5 Implement China Principles Against Against ShrHoldr 10/14/03 - A THE PROCTER & GAMBLE COMPANY *PG* 742718109 08/01/03 200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Non-Employee Director Omnibus Stock For For Mgmt Plan SHAREHOLDER PROPOSALS 4 Declassify the Board of Directors Against For ShrHoldr 5 Label Genetically Engineered Foods Against Against ShrHoldr 10/15/03 - A NEWS CORPORATION LTD. Q67027112 10/13/03 4,272 1 Elect Lachlan Murdoch as Director For For Mgmt 2 Elect Thomas Perkins as Director For For Mgmt 3 Elect Stanley Shuman as Director For For Mgmt 4 Elect Arthur Siskind as Director For For Mgmt 5 Approve Stock Option Plan Grants to For For Mgmt Executive Directors 6 Approve Remuneration of Directors in the For For Mgmt Amount of Up to AUD 1.85 Million 10/16/03 - A APPLERA CORP *ABI* 038020103 08/27/03 200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 9 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 10/17/03 - S KIA MOTORS Y47601102 09/19/03 740 1 Elect Director For For Mgmt 10/21/03 - A IOI CORPORATION BERHAD Y41763106 None 3,400 1 Accept Financial Statements and Statutory For For Mgmt Reports for the Financial Year Ended June 30, 2003 2 Elect Hj Mohd Khalil b Dato' Hj Mohd Noor For For Mgmt as Director 3 Elect Lee Cheng Leang as Director For For Mgmt 4 Elect Chan Fong Ann as Director For For Mgmt 5 Approve Remuneration of Directors For For Mgmt 6 Approve BDO Binder as Auditors and For For Mgmt Authorize Board to Fix Their Remuneration 7 Approve Issuance of Shares Pursuant to For Against Mgmt Executive Share Option Scheme 8 Approve Issuance of Equity or Equity-Linked For For Mgmt Securities without Preemptive Rights in Any Amount Up to Ten Percent of Issued Share Capital 9 Authorize Repurchase of Up to Ten Percent For For Mgmt of Issued Share Capital 10 Approve Implementation of Shareholders' For For Mgmt Mandate for Recurrent Related Party Transactions 10/22/03 - A DIAGEO PLC (FORMERLY GUINNESS PLC) G42089113 None 3,860 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Approve Remuneration Report For For Mgmt 3 Approve Final Dividend of 15.7 Pence Per For For Mgmt Share 4 Reelect Lord Blyth as Director For For Mgmt 5 Reelect Keith Oates as Director For For Mgmt 6 Reelect Paul Walsh as Director For For Mgmt 7 Approve KPMG Audit Plc as Auditors and For For Mgmt Authorize Board to Fix Their Remuneration 8 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 44,833,003 9 Authorize 309,885,718 Shares for Share For For Mgmt Repurchase Program - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 10 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 10/22/03 - A IMPALA PLATINUM HOLDINGS LTD. S37840105 None 530 ORDINARY BUSINESS 1 Accept Financial Statements and Statutory For For Mgmt Reports for Year Ended June 30, 2003 2 Confirm Appointment of T.V. Mokgatlha and For For Mgmt L.J. Paton as Directors 3 Reelect M.V. Mennell, D.H. Brown, K.C. For For Mgmt Rumble, and D.M. O'Connor as Directors 4 Approve Remuneration of Directors For For Mgmt 5 Place Authorized But Unissued Shares under For For Mgmt Control of Directors 6 Approve Issuance of Shares without For For Mgmt Preemptive Rights up to a Maximum of 15 Percent of Issued Capital 7 Approve Amendments to Deed of Implats Share For For Mgmt Incentive Trust Re: Deed of Agreements Entered into Between Impala Platinum Ltd. and Implats Share Incentive Trust 8 Amend Articles of Association Re: Board For Against Mgmt Size and Board Decisions 9 Authorize Repurchase of Up to 20 Percent of For For Mgmt Issued Share Capital 10/23/03 - S IOI CORPORATION BERHAD Y41763106 None 3,400 1 Approve Acquisition of the Equity of B A For For Mgmt Plantations Sdn Bhd for a Purchase Consideration of MYR99.82 Million to be Satisfied by MYR29.95 Million Cash and 13.44 Million New Ordinary Shares of MYR0.50 Each 2 Approve Acquisition of the Entire Equity of For For Mgmt Mayvin (Sabah) Sdn Bhd for a Purchase Consideration of MYR102.21 Million to be Satisfied by MYR30.66 Million Cash and 13.76 Million New Ordinary Shares of MYR0.50 Each 3 Approve Acquisition of the Entire Equity of For For Mgmt Pine Capital Sdn Bhd and Settlement of Shareholders' Advances of MYR6 Million for a Total of MYR122.51 Million to be Satisfied by MYR36.75 Million Cash and 16.49 - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 11 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Million New IOI Shares at MYR5.20 Per Share 4 Approve Acquisition of the Entire Equity of For For Mgmt Right Purpose for a Purchase Consideration of MYR125.98 Million to be Satisfied by MYR37.79 Million Cash and 16.96 Million New Ordinary Shares of MYR0.50 Each in IOI at MYR5.20 Per Share 5 Approve Acquisition of the Entire Equity of For For Mgmt Mayvin for a Purchase Consideration of MYR85.13 Million to be Satisfied by MYR25.54 Million Cash and 11.46 Million New Ordinary Shares of MYR0.50 Each in IOI at MYR5.20 Per Share 6 Amend Bye-Laws of the IOI Executive Share For Against Mgmt Option Scheme 10/23/03 - S SYNTHES-STRATEC INC 87162M102 None 28 1 Approve Increase in Size of Board from Nine For ** Mgmt to 10 Members 2 Approve Issuance of 510,725 Shares without For ** Mgmt Preemptive Rights ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 10/24/03 - A BHP BILLITON PLC (FORMERLY BILLITON G10877101 None 3,540 PLC) 1 Accept Financial Statements and Statutory For For Mgmt Reports for BHP Billiton Ltd. 2 Accept Financial Statements and Statutory For For Mgmt Reports for BHP Billiton Plc 3 Reelect David Brink as Director of BHP For For Mgmt Billiton Ltd. 4 Reelect David Brink as Director of BHP For For Mgmt Billiton Plc 5 Reelect Michael Chaney as Director of BHP For For Mgmt Billiton Ltd. 6 Reelect Michael Chaney as Director of BHP For For Mgmt Billiton Plc 7 Reelect Robin Renwick as Director of BHP For For Mgmt Billiton Ltd. 8 Reelect Robin Renwick as Director of BHP For For Mgmt Billiton Plc - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 12 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 9 Elect Mike Salamon as Director of BHP For For Mgmt Billiton Ltd. 10 Elect Mike Salamon as Director of BHP For For Mgmt Billiton Plc 11 Elect John Buchanan as Director of BHP For For Mgmt Billiton Ltd. 12 Elect John Buchanan as Director of BHP For For Mgmt Billiton Plc 13 Approve KPMG Audit Plc and For For Mgmt PricewaterhouseCoopers LLP as Joint Auditors of BHP Billiton Plc and Authorize Board to Fix Their Remuneration 14 Authorize BHP Billiton Plc Issuance of For For Mgmt Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of USD 265,926,499 15 Authorize BHP Billiton Plc Issuance of For For Mgmt Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of USD 61,703,675 16 Authorize 246,814,700 Shares for BHP For For Mgmt Billiton Plc Share Repurchase Program 17 Approve Remuneration Report For For Mgmt 18 Approve Grant of Deferred Shares, Options For For Mgmt and Performance Shares to Charles Goodyear under the BHP Billiton Ltd. Group Incentive Scheme 19 Approve Grant of Deferred Shares, Options For For Mgmt and Performance Shares to Mike Salamon under the BHP Billiton Plc Group Incentive Scheme 10/30/03 - S PT BANK MANDIRI (PERSERO) TBK Y7123S108 None 19,000 1 Approve Quasi Reorganization of the Company For Against Mgmt Based on Financial Reports 10/31/03 - A JOHN FAIRFAX HOLDINGS LTD. Q50804105 None 7,240 1 Elect Mark Burrows as Director For For Mgmt 2 Elect Roger Corbett as Director For For Mgmt 3 Elect David Gonski as Director For For Mgmt 4 Elect Margaret Jackson as Director For For Mgmt 5 Elect Ronald Walker as Director For For Mgmt 6 Approve Issuance of 110.25 Million Ordinary For For Mgmt Shares for a Private - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 13 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Placement 7 Approve the Terms of Dividend Reinvestment For For Mgmt Plan 11/04/03 - A SIME DARBY BERHAD Y79551126 None 5,100 1 Accept Financial Statements and Statutory For For Mgmt Reports for the Year Ended June 30, 2003 2 Approve Final Dividends for the Year Ended For For Mgmt June 30, 2003 3 Elect Seri Ahmad bin Tunku Yahaya as For For Mgmt Director 4 Elect Michael Wong Pakshong as Director For For Mgmt 5 Elect Muhammad Alias bin Raja Muhammad Ali For For Mgmt as Director 6 Elect Khatijah binti Ahmad as Director For For Mgmt 7 Elect Nik Mohamed bin Nik Yaacob as Director For For Mgmt 8 Elect David Li Kwok Po as Director For For Mgmt 9 Approve PricewaterhouseCoopers as Auditors For For Mgmt and Authorize Board to Fix Their Remuneration 10 Approve Issuance of Equity or Equity-Linked For For Mgmt Securities without Preemptive Rights in Any Amount Up to Ten Percent of Issued Share Capital 11 Authorize Repurchase of Issued Share Capital For For Mgmt 12 Approve Implementation of Shareholders' For For Mgmt Mandate for Recurrent Related Party Transactions 13 Amend Stock Option Plan For For Mgmt 11/05/03 - A LINEAR TECHNOLOGY CORP. *LLTC* 535678106 09/08/03 330 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 11/10/03 - S BIDVEST GROUP LTD. S1201R105 None 470 SPECIAL MEETING AGENDA 1 Authorize Issuance of up to 18 Million For Against Mgmt Ordinary Shares to Scheme Participants - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 14 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 11/10/03 - S BIDVEST GROUP LTD. S1201R105 None 470 SCHEME MEETING 1 Approve Scheme of Arrangement Re: For Against Mgmt Acquisition of 45 Million Bidvest Shares by Dinatla, and Issuance of Securities in BidBEE and Call Options in Bidvest to Scheme Participants 11/11/03 - A CISCO SYSTEMS, INC. *CSCO* 17275R102 09/12/03 2,630 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt SHAREHOLDER PROPOSALS 4 Report on Company Products Used by the Against Against ShrHoldr Government to Monitor the Internet 5 Report on Pay Disparity Against Against ShrHoldr 11/11/03 - A MICROSOFT CORP. *MSFT* 594918104 09/12/03 3,540 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For Against Mgmt 3 Amend Non-Employee Director Stock Option For For Mgmt Plan SHAREHOLDER PROPOSAL 4 Refrain from Giving Charitable Contributions Against Against ShrHoldr 11/13/03 - A BRINKER INTERNATIONAL, INC. *EAT* 109641100 09/15/03 310 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt SHAREHOLDER PROPOSAL 3 Report on the Impact of Genetically Against Against ShrHoldr Engineered Products 11/13/03 - A MAXIM INTEGRATED PRODUCTS, INC. *MXIM* 57772K101 09/15/03 320 1 Elect Directors For For Mgmt 2 Amend Stock Option Plan For Against Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 15 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 11/13/03 - A THE BISYS GROUP, INC. *BSG* 055472104 09/19/03 740 1 Elect Directors For For Mgmt 2 Approve Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt 11/14/03 - A BRITISH SKY BROADCASTING PLC G15632105 None 2,430 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Elect Lord Wilson as Director For Against Mgmt 3 Elect James Murdoch as Director For Against Mgmt 4 Elect Chase Carey as Director For Against Mgmt 5 Reelect David Evans as Director For Against Mgmt 6 Reelect Lord St John as Director For Against Mgmt 7 Reelect Martin Stewart as Director For For Mgmt 8 Approve Deloitte and Touche LLP as Auditors For Against Mgmt and Authorize Board to Fix Their Remuneration 9 Approve Remuneration Report For For Mgmt 10 Authorize EU Political Donations up to GBP For For Mgmt 200,000 11 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 319,000,000 12 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 48,000,000 13 Approve Reduction of GBP 1.120 Billion from For For Mgmt Share Premium Account 11/14/03 - A HARMONY GOLD MINING LTD. S34320101 None 370 ANNUAL MEETING AGENDA 1 Accept Financial Statements and Statutory For For Mgmt Reports for the Fiscal Year Ended June 30, 2003 2 Approve Remuneration of Directors For For Mgmt 3 Elect Directors For For Mgmt 4 Elect Directors For For Mgmt 5 Amend Articles of Association to Reflect For For Mgmt Amended JSE Listing Requirements Re: Share Issuances 6 Amend Articles of Association to Reflect For For Mgmt Amended JSE Listing Requirements Re: Announcements of Notices of Meetings Through SENS - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 16 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 7 Amend Articles of Association Re: Quorum at For For Mgmt Board Meetings 8 Amend Articles of Association Re: Approval For For Mgmt of Board Resolutions 9 Authorize Repurchase of Up to 20 Percent of For For Mgmt Issued Share Capital 10 Approve Harmony (2003) Share Option Scheme For For Mgmt 11 Place Authorized But Unissued Shares under For For Mgmt Control of Directors 12 Approve Issuance of Shares without For For Mgmt Preemptive Rights up to a Maximum of 15 Percent of Issued Capital 11/17/03 - S BANK HAPOALIM B.M. M1586M115 11/10/03 3,300 1 Approve Merger Agreement with Mishkan, a For For Mgmt Wholly-Owned Subsidiary of the Company 11/25/03 - A BIDVEST GROUP LTD. S1201R105 None 940 ORDINARY BUSINESS 1 Accept Financial Statements and Statutory For For Mgmt Reports for Year Ended June 30, 2003 2 Approve Remuneration of Directors For For Mgmt 3 Reappoint Auditors For For Mgmt 4 Authorize Repurchase of Up to 20 Percent of For For Mgmt Issued Share Capital 5 Place Authorized But Unissued Shares under For For Mgmt Control of Directors 6 Approve Issuance of Shares without For For Mgmt Preemptive Rights up to a Maximum of 15 Percent of Issued Capital 7 Approve Reduction of Share Premium Account For For Mgmt by Way of Cash Payment to Shareholders in Lieu of Dividends 8 Elect Directors For For Mgmt 11/26/03 - A FAST RETAILING J1346E100 08/31/03 600 1 Approve Allocation of Income, Including the For For Mgmt Following Dividends: Interim JY 20, Final JY 35, Special JY 0 2 Amend Articles to: Increase Number of For Against Mgmt Internal Auditors - Reduce Directors' Term in Office - Extend Internal - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 17 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Auditors' Term in Office - Lower Quorum Requirement for Special Business - Allow Share Repurchases at Discretion of Board 3 Elect Directors For For Mgmt 4.1 Appoint Internal Statutory Auditor For For Mgmt 4.2 Appoint Internal Statutory Auditor For For Mgmt 4.3 Appoint Internal Statutory Auditor For Against Mgmt 5 Approve Retirement Bonuses for Director and For Against Mgmt Statutory Auditor 6 Approve Adjustment to Aggregate For For Mgmt Compensation Ceiling for Statutory Auditors 11/28/03 - S DST SYSTEMS, INC. *DST* 233326107 11/10/03 320 1 Approve Reorganization Plan For For Mgmt 11/28/03 - A SASOL LTD. 803866102 None 1,570 ORDINARY BUSINESS 1 Approve Company and Group Financial For For Mgmt Statements and Statutory Reports For Year Ended June 30, 2003 2 Elect Directors For For Mgmt 3 Elect Directors For For Mgmt 4 Elect Directors For For Mgmt 5 Reappoint KPMG Inc. as Auditors For For Mgmt 6 Authorize Repurchase of Up to 10 Percent of For For Mgmt Issued Share Capital 7 Place Authorized But Unissued Shares under For For Mgmt Control of Directors 8 Approve Remuneration of Directors For For Mgmt 11/28/03 - S YUKOS OIL 98849W108 09/25/03 482 ELECT 11 DIRECTORS BY CUMULATIVE VOTING 1 Elect Directors For For Mgmt 2 Adopt New Charter For Against Mgmt 3 Approve Dividends for First Nine Months of For For Mgmt 2003 12/02/03 - A FIRSTRAND LIMITED S5202Z107 None 9,580 ORDINARY BUSINESS 1 Accept Financial Statements and Statutory For For Mgmt Reports for Year Ended June 30, 2003 - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 18 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 2 Reelect V.W. Bartlett as Director For For Mgmt 3 Reelect D.J.A Craig as Director For For Mgmt 4 Reelect P.M. Goss as Director For For Mgmt 5 Approve Remuneration of Directors for Year For For Mgmt Ended June 30, 2003 6 Approve Remuneration of Directors for For For Mgmt Fiscal Year 2004 7 Reappoint PricewaterhouseCoopers Inc. as For For Mgmt Auditors 8 Authorize Board to Fix and Pay Remuneration For For Mgmt of the Auditors 9 Place Authorized But Unissued Shares under For For Mgmt Control of Directors 10 Approve Issuance of Shares without For For Mgmt Preemptive Rights up to a Maximum of 15 Percent of Issued Capital 11 Authorize Repurchase of Up to 20 Percent of For For Mgmt Issued Share Capital 12 Authorize Creation of B Variable Rate For For Mgmt Non-Cumulative Non-Redeemable Preference Shares 13 Authorize Creation of C Variable Rate For For Mgmt Non-Cumulative Non-Redeemable Preference Shares 14 Authorize Creation of D Variable Rate For For Mgmt Non-Cumulative Non-Redeemable Preference Shares 15 Amend Articles 53, 54, and 55 Re: Rights For For Mgmt and Privileges of Preference Shares 16 Amend Memorandum of Association Re: For For Mgmt Composition of Share Capital 17 Place Authorized But Unissued Preference For For Mgmt Shares under Control of Directors 18 Authorize Board to Ratify and Execute For For Mgmt Approved Resolutions 12/03/03 - S CAP GEMINI SA F13587120 None 380 SPECIAL MEETING AGENDA 1 Authorize Board to Issue Up to 6,276,554 For ** Mgmt Shares Reserved to Transiciel Shareholders Who Tendered Their Transiciel Shares Pursuant to Cap Gemini Share Exchange Offer 2 Authorize Board to Issue Up to 18,829,662 For ** Mgmt Million Warrants and Up to 1,176,853 Shares - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 19 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ to Transiciel Shareholders Who Tendered Their Transiciel Shares Pursuant to Alternative to Share Exchange Offer 3 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 12/09/03 - E VODAFONE HOLDINGS K.K. (FRM. JAPAN J27859107 10/27/03 12 TELECOM HOLDINGS CO., LTD 1 Amend Articles to: Change Location of Head For For Mgmt Office - Change Company Name to Vodafone Holdings K.K. 2 Approve Reduction in Capital Reserves For For Mgmt 3 Elect Director For For Mgmt 12/15/03 - S CHINA TELECOM CORP LTD Y1505D102 11/14/03 48,000 1 Approve Acquisition of the Entire Issued For For Mgmt Capital of Anhui Telecom, Fujian Telecom, Jiangxi Telecom, Guangxi Telecom, Chongqing Telecom and Sichuan Telecom and Certain Network Management, Research and Development Facilities 2 Approve Connected Transaction with a For For Mgmt Related Party 3 Amend Articles Re: Update Service Areas of For For Mgmt the Company 12/16/03 - S BEC WORLD PUBLIC COMPANY LIMITED Y0769B117 11/26/03 1,000 1 Approve Minutes of Previous AGM For For Mgmt 2 Accept Acknowledgment on the Payment of For For Mgmt Interim Dividend of Baht 10 per Share 3 Reduce Par Value of Common Stock to Baht 1 For For Mgmt from Baht 10 4 Amend Article 4 of Articles of Association For For Mgmt 5 Amend Memorandum of Association to Reflect For For Mgmt Decrease in Par Value 6 Approve Maleenont Tower Lease Agreement For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 20 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 12/16/03 - S GRUPO ELEKTRA S.A. P3642B213 None 950 1 Amend Articles Re: Compliance with Mexican For For Mgmt Market Law 2 Approve Merger Agreement with ELektra For For Mgmt Trading and Consulting Group SA de CV 3 Approve Granting and Revoking of Powers For For Mgmt 4 Other Business (Voting) For For Mgmt 5 Designate Inspector or Shareholder For For Mgmt Representative(s) to File Required Documents in the Public Commerce Registry and to Execute Approved Resolutions 12/16/03 - A MCAFEE INC. *MFE* 640938106 11/13/03 700 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For Against Mgmt 3 Amend Non-Employee Director Stock Option For For Mgmt Plan 4 Amend Employee Stock Purchase Plan For For Mgmt 5 Ratify Auditors For For Mgmt 12/18/03 - S CAP GEMINI SA F13587120 None 380 SPECIAL MEETING AGENDA 1 Authorize Board to Issue Up to 6,276,554 For ** Mgmt Shares Reserved to Transiciel Shareholders Who Tendered Their Transiciel Shares Pursuant to Cap Gemini Share Exchange Offer 2 Authorize Board to Issue Up to 18,829,662 For ** Mgmt Million Warrants and Up to 1,176,853 Shares to Transiciel Shareholders Who Tendered Their Transiciel Shares Pursuant to Alternative to Share Exchange Offer 3 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 21 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 12/19/03 - A AUSTRALIA & NZ BANKING GROUP LTD. Q09504137 None 2,894 (FORMERLY AUSTRALIA & NEW 1 Accept Financial Statements and Statutory None None Mgmt Reports 2a Reelect C Dahlsen as Director For For Mgmt 2b Reelect CB Goode as Director For For Mgmt 2c Elect Shareholder Nominee J I Buckland as Against Against ShrHoldr Director 12/23/03 - A THAI AIRWAYS INTERNATIONAL LTD. Y8615C114 12/04/03 4,300 1 Open Meeting None None Mgmt 2 Approve Minutes of Previous AGM For For Mgmt 3 Accept Directors' Report For For Mgmt 4 Accept Financial Statements and Statutory For For Mgmt Reports 5 Acknowledgment of the Amendment of the For For Mgmt Company Dividend Policy 6 Approve Allocation of Income and Dividends For For Mgmt 7 Elect Directors For For Mgmt 8 Approve Auditors and Authorize Board to Fix For For Mgmt Their Remuneration 9 Approve Adjustment of the Remuneration of For For Mgmt Directors 10 Approve Remuneration of Directors For For Mgmt 11 Other Business For For Mgmt 12/25/03 - S AKBANK M0300L106 None 1,432,300 SPECIAL MEETING AGENDA 1 Elect Presiding Council and Authorize For ** Mgmt Council to Sign Minutes of Meeting 2 Amend Articles Re: Corporate Purpose, For ** Mgmt Capital Payment Rules, and Distribution of Profits 3 Approve Report Re: Donationa Made in 2002 For ** Mgmt ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 22 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 01/13/04 - S GRANADA PLC (FRMRLY. GRANADA COMPASS) G4049Q100 None 116,000 1 To Give Effect to the Scheme of Arrangement For For Mgmt Between the Company and Holders of its Scheme Shares 2 Approve ITV Approved Executive Share Option For For Mgmt Scheme 3 Approve ITV Unapproved Executive Share For For Mgmt Option Scheme 4 Approve ITV Commitment Scheme For For Mgmt 5 Approve ITV Savings-Related Share Option For For Mgmt Scheme 6 Approve ITV Share Incentive Plan For For Mgmt 7 Establish Plans for Oversea Employees of ITV For For Mgmt 01/14/04 - A WALGREEN CO. *WAG* 931422109 11/17/03 420 1 Elect Directors For For Mgmt 2 Approve Non-Employee Director Omnibus Stock For Against Mgmt Plan 01/22/04 - A AMDOCS LIMITED *DOX* G02602103 11/28/03 530 1 Elect Directors For For Mgmt 2 Accept Financial Statements For Fiscal Year For For Mgmt 2003 3 Amend 1998 Stock Option and Incentive Plan For Against Mgmt 4 Approve Ernst & Young Auditors and For For Mgmt Authorize Audit Committee of Board to Fix Their Remuneration 01/23/04 - A BOC GROUP PLC G12068113 None 9,100 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Approve Remuneration Report For For Mgmt 3 Elect Andrew Bonfield as Director For For Mgmt 4 Reelect Christopher O'Donnell as Director For For Mgmt 5 Reelect Julie Baddeley as Director For For Mgmt 6 Reelect John Walsh as Director For For Mgmt 7 Ratify PricewaterhouseCoopers LLP as For For Mgmt Auditors 8 Authorize Board to Fix Remuneration of For For Mgmt Auditors 9 Approve Dividend Policy For For Mgmt 10 Authorize EU Political Donations up to For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 23 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ GBP 150,000 11 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 18,580,721 12 Authorize Issuance of Equity or For For Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 6,222,335 13 Authorize 49,778,680 Shares for Share For For Mgmt Repurchase Program 14 Amend Articles of Association Re: Treasury For For Mgmt Shares and Directors' Fees 01/29/04 - S BARLOWORLD LIMITED (FORMERLY BARLOW S08470189 None 760 LTD.) SPECIAL MEETING AGENDA 1 Approve Allotment and Issuance of Shares For Against Mgmt Pursuant to Avis Southern Africa Scheme of Arrangement 2 Authorize Board to Ratify and Execute For Against Mgmt Approved Resolutions 01/29/04 - A FRANKLIN RESOURCES, INC. *BEN* 354613101 12/01/03 320 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 01/29/04 - S KOREA EXCHANGE BANK Y48585106 12/31/03 710 1 Elect Directors For For Mgmt 2 Amend Articles of Incorporation For For Mgmt 01/29/04 - S NEXT PLC G6500M106 None 4,670 1 Amend Articles of Association Re: Borrowing For For Mgmt Powers 02/19/04 - A AGERE SYSTEMS INC *AGR.A* 00845V209 12/22/03 5,260 1 Elect Directors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 24 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 02/24/04 - A NOVARTIS AG H5820Q150 02/04/04 13,460 1 Accept Financial Statements and Statutory For ** Mgmt Reports 2 Approve Discharge of the Board and Senior For ** Mgmt Management 3 Approve Allocation of Income and Dividends For ** Mgmt of CHF 1.00 per Share 4 Approve Transfer of CHF 360.9 Million from For ** Mgmt General Reserves to Free Reserves 5 Approve CHF 12.1 Million Reduction in Share For ** Mgmt Capital via Share Cancellation 6 Authorize Repurchase of up to Ten Percent For ** Mgmt of Issued Share Capital 7 Amend Articles Re: Reduce Board Terms from For ** Mgmt Four to Three Years 8.1 Approve Resignation of Walter Frehner and For ** Mgmt Heini Lippuner 9 Ratify PricewaterhouseCoopers AG as Auditors For ** Mgmt ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 02/27/04 - A SAMSUNG ELECTRONICS CO. LTD. Y74718100 12/31/03 210 1 Approve Financial Statements and For For Mgmt Appropriation of Income, with Total Dividend of KRW 5500 Per Share 2 Elect Directors For For Mgmt 2.2 Appoint One Member of Audit Committee For For Mgmt 2 Elect Directors For For Mgmt 3 Approve Limit on Remuneration of Directors For For Mgmt 02/27/04 - A SAMSUNG SDI CO. Y74866107 12/31/03 570 1 Approve Appropriation of Income and For For Mgmt Dividends of KRW 2500 Per Share 2 Elect Director For For Mgmt 3 Approve Limit on Remuneration of Directors For For Mgmt 03/25/04 - A CHUGAI PHARMACEUTICAL CO. LTD. J06930101 12/31/03 9,100 1 Approve Allocation of Income, For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 25 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Including the Following Dividends: Interim JY 0, Final JY 13, Special JY 0 2 Elect Directors For For Mgmt 3.1 Appoint Internal Statutory Auditor For For Mgmt 3.2 Appoint Internal Statutory Auditor For For Mgmt 4 Approve Retirement Bonuses for Directors For Against Mgmt and Statutory Auditors 5 Approve Executive Stock Option Plan For For Mgmt 6 Amend Articles to: Authorize Share For For Mgmt Repurchases at Board's Discretion 03/30/04 - A BRIDGESTONE CORP. J04578126 12/31/03 5,000 1 Approve Allocation of Income, Including the For For Mgmt Following Dividends: Interim JY 8, Final JY 8, Special JY 0 2 Authorize Share Repurchase Program For For Mgmt 3 Amend Articles to: Authorize Share For For Mgmt Repurchases at Board's Discretion 4 Elect Director For For Mgmt 5.1 Appoint Internal Statutory Auditor For Against Mgmt 5.2 Appoint Internal Statutory Auditor For For Mgmt 6 Approve Retirement Bonuses for Director and For Against Mgmt Statutory Auditor 7 Approve Executive Stock Option Plan For For Mgmt 03/30/04 - A CANON INC. J05124144 12/31/03 3,000 1 Approve Allocation of Income, Including the For For Mgmt Following Dividends: Interim JY 15, Final JY 35, Special JY 0 2 Amend Articles to: Authorize Share For For Mgmt Repurchases at Board's Discretion 3 Elect Directors For For Mgmt 4.1 Appoint Internal Statutory Auditor For For Mgmt 4.2 Appoint Internal Statutory Auditor For For Mgmt 4.3 Appoint Internal Statutory Auditor For For Mgmt 5 Appoint Additional External Auditor For Against Mgmt 6 Approve Retirement Bonuses for Directors For For Mgmt and Statutory Auditors 7 Approve Adjustment to Aggregate For For Mgmt Compensation Ceiling for Directors and Statutory Auditors 04/02/04 - A IBERDROLA S.A. E6164R104 None 7,720 1 Approve Financial Statements, Allocation of For For Mgmt Income and Dividends, - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 26 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ and Discharge Directors 2 Adopt New Articles of Association For For Mgmt 3 Approve General Meeting Guidelines; For For Mgmt Information on Board Guidelines 4 Approve Merger by Absorption of For For Mgmt Subsidiaries Iberdrola Gas S.A. and Star 21 Networks Espana, S.A. 5 Authorize Issuance of Convertible Bonds For For Mgmt and/or Warrants without Preemptive Rights with a Maximum Limit of EUR 1 Billion 6 Authorize Issuance of Convertible Bonds For For Mgmt and/or Warrants with Preemptive Rights with a Maximum Limit of EUR 1 Billion 7 Authorize Issuance of Bonds/Debentures up For For Mgmt to Aggregate Nominal Amount of EUR 1.2 Billion, or EUR 1.5 Billion in the Case of Debentures 8 Authorize Repurchase of Shares and Reduce For For Mgmt Capital Via Cancellation of Repurchased Shares 9 Approve Listing of Shares on Secondary For For Mgmt Exchanges in Spain or Overseas 10 Approve Creation of Foundations For For Mgmt 11 Approve Auditors For For Mgmt 12 Ratify Appointment of Directors For For Mgmt 13 Authorize Board to Ratify and Execute For For Mgmt Approved Resolutions 04/02/04 - A QBE INSURANCE GROUP LTD. Q78063114 None 38,591 1 Accept Financial Statements and Statutory For For Mgmt Reports 2a Elect L. F. Bleasel as Director For For Mgmt 2b Elect N. F. Greiner as Director For For Mgmt 3 Approve Remuneration of Directors in the For For Mgmt Amount of AUD 2.2 Million Per Annum 4 Amend Constitution Re: Non-Executive For For Mgmt Directors' Retirement Allowances 5 Approve Issue of Conditional Rights and For For Mgmt Options Under the Senior Executive Equity Scheme to F. M. O'Halloran, Chief Executive Officer - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 27 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/06/04 - A ERICSSON (TELEFONAKTIEBOLAGET L M W26049119 03/26/04 34,700 ERICSSON) 1 Elect Chairman of Meeting For For Mgmt 2 Prepare and Approve List of Shareholders For For Mgmt 3 Approve Agenda of Meeting For For Mgmt 4 Acknowledge Proper Convening of Meeting For For Mgmt 5 Designate Inspector or Shareholder For For Mgmt Representative(s) of Minutes of Meeting 6 Receive Financial Statements, Statutory None None Mgmt Reports, and Board Report; Allow Questions 7.1 Accept Financial Statements and Statutory For For Mgmt Reports 7.2 Approve Discharge of Board and President For For Mgmt 7.3 Approve Allocation of Income and Omission For For Mgmt of Dividends 8 Determine Number of Members (9) and Deputy For For Mgmt Members (0) of Board 9 Approve Remuneration of Directors in the For For Mgmt Aggregate Amount of SEK 8 Million 10 Reelect Peter Bonfield, Sverker For For Mgmt Martin-Loef, Arne Maartensson, Eckhard Pfeiffer, Lena Torell, Carl-Henric Svanberg, Michael Treschow, and Marcus Wallenberg; Elect Nancy McKinstry as New Director 11 Approve Remuneration of Auditors For For Mgmt 12 Ratify Peter Clemendtson (Oehrlings For For Mgmt PricewaterhouseCoopers) as Auditor and Robert Bernden (Oehrlings PricewaterhouseCoopers) as Deputy Auditor 13 Elect Bengt Belfrage, Christer Elmehagen, For For Mgmt Anders Nyren, Bjoern Svedberg, and Michael Treschow as Members of Nominating Committee 14.1 Reserve 23.5 Million Shares for New For For Mgmt Long-Term Incentive Plan (Stock Purchase Plan) for Key Employees 14.2 Authorize Board to Examine Reasonableness For For Mgmt of Performance Criteria Attached to Incentive Plan (Item 14.1) 14.3 Amend 2003 Employee Stock Purchase Plan Re: For For Mgmt Threshold for - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 28 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Employee's Maximum Contribution to Plan 14.4 Authorize Reissuance of 24.6 Million For For Mgmt Repurchased Class B Shares in Connection with 2003 and 2004 Employee Stock Purchase Plans 14.5 Authorize Reissuance of 55.8 Million For For Mgmt Repurchased Class B Shares in Connection with 2001 and 2003 Employee Compansation Plans SHAREHOLDER PROPOSALS 15 Shareholder Proposal: Provide All Shares Against For ShrHoldr with Equal Voting Rights ORDINARY BUSINESS 16 Close Meeting None None Mgmt 04/09/04 - A/S FRANCE TELECOM SA F4113C103 None 8,150 ORDINARY BUSINESS 1 Approve Financial Statements and Discharge For ** Mgmt Directors for Fiscal Year Ended Dec. 2003 2 Accept Consolidated Financial Statements For ** Mgmt and Statutory Reports for Fiscal Year Ended Dec. 2003 3 Approve Treatment of Losses and Dividends For ** Mgmt of EUR 0.25 per Share 4 Approve Special Auditors' Report Regarding For ** Mgmt Related-Party Transactions 5 Authorize Repurchase of Up to Ten Percent For ** Mgmt of Issued Share Capital SPECIAL BUSINESS 6 Fix Issue Price of Previous Authority to For ** Mgmt Issue Equity or Equity-Linked Securities without Preemptive Rights Submitted to Shareholder Vote at Feb. 25, 2003 EGM to Increase Capital by up to EUR 30 Billion 7 Amend Article 1, 2, and 7 to Reflect 2003 For ** Mgmt Legislative Changes, Postal Service and Telecommunication Code, and European Parliament Directives 8 Amend Articles to Reflect 2003 Legislative For ** Mgmt Changes; Remove French Government Obligation to Retain Majority Stake in Company and Amend Articles with Respect to Board - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 29 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Composition 9 Amend Articles to Reflect Potential Change For ** Mgmt in Control with Respect to Powers of Chairman and Management 10 Amend Articles of Association to Introduce For ** Mgmt Liquidation Provision 11 Authorize Board to Issue Up to 30 Million For ** Mgmt Shares to Participants of Wanadoo Stock Option Plan in Connection with France Telecom Liquidity Agreement 12 Approve Capital Increase Reserved for For ** Mgmt Employees Participating in Savings-Related Share Purchase Plan 13 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/15/04 - A BP PLC (FORM. BP AMOCO PLC ) 055622104 02/23/04 2,755 MEETING FOR HOLDERS OF ADRS 1 Elect Directors For For Mgmt 2 TO ELECT MR A BURGMANS AS A DIRECTOR For For Mgmt 3 Ratify Auditors For For Mgmt 4 TO AMEND THE ARTICLES OF ASSOCIATION OF THE For For Mgmt COMPANY 5 TO GIVE AUTHORITY TO ALLOT SHARES UP TO A For For Mgmt SPECIFIED AMOUNT 6 SPECIAL RESOLUTION: TO GIVE AUTHORITY TO For For Mgmt ALLOT A LIMITED NUMBER OF SHARES FOR CASH WITHOUT MAKING AN OFFER TO SHAREHOLDERS 7 SPECIAL RESOLUTION: TO GIVE LIMITED For For Mgmt AUTHORITY FOR THE PURCHASE OF ITS OWN SHARES BY THE COMPANY 8 TO AUTHORISE THE USE OF TREASURY SHARES FOR For For Mgmt EMPLOYEE SHARE SCHEMES 9 TO APPROVE THE DIRECTORS REMUNERATION REPORT For For Mgmt 10 TO DETERMINE THE LIMIT FOR THE For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 30 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ AGGREGATE REMUNERATION OF THE NON-EXECUTIVE DIRECTORS 11 TO RECEIVE THE DIRECTORS ANNUAL REPORT AND For For Mgmt THE ACCOUNTS 12 SPECIAL SHAREHOLDER RESOLUTION: TO INSTRUCT Against Against ShrHoldr THE COMPANY TO PREPARE A REPORT MAKING CERTAIN DISCLOSURES ON MATTERS OF CONTROL AND RISK IN PROTECTED AND SENSITIVE AREAS 04/15/04 - A UBS AG H8920M855 None 3,799 1 Accept Financial Statements and Statutory For ** Mgmt Reports 2 Approve Allocation of Income and Dividends For ** Mgmt of CHF 2.60 per Share 3 Approve Discharge of Board and Senior For ** Mgmt Management 4.3 Ratify Ernst and Young as Auditors For ** Mgmt 5.1 Approve CHF 47.6 Million Reduction in Share For ** Mgmt Capital via Cancellation of Shares 5.2 Authorize Repurchase of Issued Share Capital For ** Mgmt ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/15/04 - A UBS AG H8920M855 03/10/04 3,959 MEETING FOR HOLDERS OF ADRS 1 ANNUAL REPORT, GROUP AND PARENT COMPANY For ** Mgmt ACCOUNTS FOR 2003. REPORTS OF THE GROUP AND STATUTORY AUDITORS 2 APPROPRIATION OF RETAINED EARNINGS. For ** Mgmt DIVIDEND FOR FINANCIAL YEAR 2003 3 DISCHARGE OF THE MEMBERS OF THE BOARD OF For ** Mgmt DIRECTORS AND THE GROUP EXECUTIVE BOARD 4 RE-ELECTION OF BOARD MEMBER: SIR PETER DAVIS For ** Mgmt 5 ELECTION OF NEW BOARD For ** Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 31 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ MEMBER: STEPHAN HAERINGER 6 ELECTION OF NEW BOARD MEMBER: HELMUT PANKE For ** Mgmt 7 ELECTION OF NEW BOARD MEMBER: PETER SPUHLER For ** Mgmt 8 RE-ELECTION OF GROUP AND STATUTORY AUDITORS For ** Mgmt ERNST & YOUNG LTD., BASEL 9 CAPITAL REDUCTION: CANCELLATION OF SHARES For ** Mgmt REPURCHASED UNDER THE 2003/2004 SHARE BUYBACK PROGRAM AND RESPECTIVE AMENDMENT OF ARTICLE 4 OF THE ARTICLES OF ASSOCIATION 10 CAPITAL REDUCTION: APPROVAL OF A NEW For ** Mgmt 2004/2005 SHARE BUYBACK PROGRAM 11 IN CASE OF AD-HOC SHAREHOLDERS MOTIONS For ** Mgmt DURING THE ANNUAL GENERAL MEETING, I/WE AUTHORIZE MY/OUR PROXY TO VOTE IN ACCORDANCE WITH THE BOARD OF DIRECTORS ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/16/04 - A SCHERING AG D67334108 None 3,070 1 Receive Financial Statements and Statutory None ** Mgmt Reports 2 Approve Allocation of Income and Dividends For ** Mgmt of EUR 0.93 per Share 3 Approve Discharge of Management Board For ** Mgmt 4 Approve Discharge of Supervisory Board For ** Mgmt 5 Ratify BDO Deutsche Warentreuhand AG as For ** Mgmt Auditors 6 Approve Creation of EUR 97 Million Pool of For ** Mgmt Conditional Capital without Preemptive Rights 7 Approve Issuance of Convertible Bonds For ** Mgmt and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 600 Million with Preemptive Rights; Approve Creation - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 32 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ of EUR 10 Million Pool of Conditional Capital to Guarantee Conversion Rights 8 Amend Articles Re: Supervisory Board For ** Mgmt Remuneration due to Changes in German Disclosure Regulations 9 Adopt New Articles of Association For ** Mgmt 10 Authorize Repurchase of up to Ten Percent For ** Mgmt of Issued Share Capital; Authorize Board to Issue Repurchased Shares as New Shares without Preemptive Rights 11 Elect Karl-Hermann Baumann, Piet Borst, For ** Mgmt Mathias Doepfner, John Dormandy, Reiner Hagemann, Martin Kohlhaussen, Hermann-Josef Lamberti, and Giuseppe Vita to the Supervisory Board 12 Approve Affiliation Agreements with For ** Mgmt Subsidiaries 13 Approve Affiliation Agreements with For ** Mgmt Schering International Holding GmbH ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/20/04 - A/S TELEVISION FRANCAISE 1 F91255103 None 7,374 ORDINARY BUSINESS 1 Approve Financial Statements and Discharge For ** Mgmt Directors 2 Accept Consolidated Financial Statements For ** Mgmt and Statutory Reports 3 Approve Special Auditors' Report Regarding For ** Mgmt Related-Party Transactions 4 Approve Allocation of Income and Dividends For ** Mgmt of EUR 0.975 per Share 5 Receive Special Directors' Report Regarding For ** Mgmt Stock Option Grants 6 Receive Chairman's and Auditors' Report For ** Mgmt Regarding Internal Control Procedures 7 Reelect Alain Pouyat as Director For ** Mgmt 8 Confirm Election of Employee For ** Mgmt Representatives to the Board 9 Authorize Repurchase of Up to Ten For ** Mgmt Percent of Issued Share Capital - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 33 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 10 Authorize Issuance of Bonds/Debentures For ** Mgmt SPECIAL BUSINESS 11 Approve Reduction in Share Capital via For ** Mgmt Cancellation of Repurchased Shares 12 Authorize Issuance of Equity or For ** Mgmt Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 120 Million 13 Authorize Issuance of Equity or For ** Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 120 Million 14 Authorize Capital Increase of Up to EUR 120 For ** Mgmt Million for Future Exchange Offers 15 Set Global Limit for Capital Increase to For ** Mgmt Result from All Issuance Requests at EUR 120 Million 16 Approve Capital Increase Reserved for For ** Mgmt Employees Participating in Savings-Related Share Purchase Plan 17 Approve Issuance of Equity-Linked For ** Mgmt Securities Reserved for Employees Participating in Savings-Related Share Purchase Plan 18 Amend Articles of Association to Reflect For ** Mgmt 2003 Regulation Changes Re: Related-Party Transactions and Internal Control Procedures 19 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/21/04 - A/S AXA (FORMERLY AXA-UAP) F06106102 None 17,650 ORDINARY BUSINESS 1 Approve Financial Statements and Statutory For ** Mgmt Reports 2 Accept Consolidated Financial Statements For ** Mgmt and Statutory Reports 3 Approve Allocation of Income and Dividends For ** Mgmt of EUR 0.57 per Share 4 Approve Special Auditors' Report For ** Mgmt Regarding Related-Party Transactions - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 34 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 5 Reelect Claude Bebear as Supervisory Board For ** Mgmt Member 6 Ratify Mazars & Guerard as Auditors For ** Mgmt 7 Ratify Jean Louis Simon as Alternate Auditor For ** Mgmt 8 Elect Willy Avereyn as Representative of None ** Mgmt Employee Shareholders to the Supervisory Board, Pending Approval of Item 13 9 Elect Cees de Jong as Representative of None ** Mgmt Employee Shareholders to the Supervisory Board, Pending Approval of Item 13 10 Elect Jacques Tabourot as Representative of For ** Mgmt Employee Shareholders to the Supervisory Board, Pending Approval of Item 13 11 Authorize Repurchase of Up to Ten Percent For ** Mgmt of Issued Share Capital SPECIAL BUSINESS 12 Allow Board to Issue Shares in the Event of For ** Mgmt a Public Tender Offer or Share Exchange Offer 13 Amend Article 10 Re: Appointment of For ** Mgmt Representative of Employee Shareholders to the Supervisory Board 14 Amend Article 10 Re: Appointment of Against ** Mgmt Employee Representative to the Supervisory Board 15 Approve Reduction in Share Capital via For ** Mgmt Cancellation of Repurchased Shares 16 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/22/04 - A CANADIAN NATIONAL RAILWAY CO. *CNR.* 136375102 03/15/04 4,115 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/22/04 - A NESTLE SA H57312466 None 1,698 1a Accept Financial Statements and Statutory For ** Mgmt Reports 1b Accept Consolidated Financial For ** Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 35 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Statements and Statutory Reports 2 Approve Discharge of Board and Senior For ** Mgmt Management 3 Approve Allocation of Income and Dividends For ** Mgmt of CHF 7.20 per Share 4a Elect Edward George as Directors For ** Mgmt 4b Elect Kaspar Villiger as Directors For ** Mgmt 4c Elect Rolf Haenggi as Directors For ** Mgmt 4d Elect Daniel Borel as Directors For ** Mgmt 4e Elect Carolina Mueller as Directors For ** Mgmt ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/22/04 - A SYNTHES-STRATEC INC 87162M102 None 95 2 Accept Consolidated Financial Statements For ** Mgmt and Statutory Reports 3 Present Report on Dividend Approved by Board For ** Mgmt 4 Elect Director Charles Hedgepeth, Amin For ** Mgmt Khoury and Dr. Rolf 5 Ratify Auditors For ** Mgmt 6 Increase Authorized Common Stock For ** Mgmt 7 Change Company Name For ** Mgmt 8 Authorize Issuance of Equity For ** Mgmt ** NOT VOTED PER CLIENT INSTRUCTION. 04/23/04 - A STRAUMANN HOLDINGS H8300N119 None 850 1 Receive Financial Statements and Statutory None ** Mgmt Reports 2 Accept Financial Statements and Statutory For ** Mgmt Reports 3 Approve Allocation of Income and Dividends For ** Mgmt of CHF 1.55 per Share; Approve Allocation of a Special Dividend of CHF 1.55 per Share 4 Approve Discharge of Board and Senior For ** Mgmt Management 5 Reelect Thomas Straumann and Dominik For ** Mgmt Ellenrieder as Directors 6 Reelect Ernst & Young AG as Auditors For ** Mgmt ** NOT VOTED PER CLIENT INSTRUCTION. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 36 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/26/04 - A DEPFA BANK PLC G27230104 None 1,330 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Declare Final Dividend For For Mgmt 3a Reelect Reinhare Grzesik as Director For For Mgmt 3b Reelect Thomas Kolbeck as Director For For Mgmt 3c Reelect Jacques Poos as Director For For Mgmt 3d Reelect Hans Reich as Director For For Mgmt 3e Reelect Jurgen Karcher as Director For For Mgmt 4 Authorize Board to Fix Remuneration of For For Mgmt Auditors 5 Approve Sub-division of Ordinary Share For For Mgmt Capital 6 Approve Increase in Authorized Capital and For For Mgmt Authorize New Class of Preferred Stock 04/27/04 - A ATLAS COPCO AB W10020118 04/16/04 3,440 1 Open Meeting; Elect Chairman of Meeting For For Mgmt 2 Prepare and Approve List of Shareholders For For Mgmt 3 Approve Agenda of Meeting For For Mgmt 4 Designate Inspector or Shareholder For For Mgmt Representative(s) of Minutes of Meeting 5 Acknowledge Proper Convening of Meeting For For Mgmt 6 Receive Financial Statements and Statutory None None Mgmt Reports 7 Receive President's Report None None Mgmt 8 Receive Board and Committee Reports None None Mgmt 9.1 Accept Financial Statements and Statutory For For Mgmt Reports 9.2 Approve Discharge of Board and President For For Mgmt 9.3 Approve Allocation of Income and Dividends For For Mgmt of SEK 7.50 Per Share 9.4 Approve Record Date (April 30) for Dividend For For Mgmt 10 Determine Number of Members (9) and Deputy For For Mgmt Members (0) of Board 11 Reelect Sune Carlsson, Jacob Wallenberg, For For Mgmt Gunnar Brock, Staffan Boman, Kurt Hellstroem, Thomas Leysen, Ulla Litzen, and Anders Ullberg as Directors; Elect Grace - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 37 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Reksten Skaugen as New Director 12 Approve Remuneration of Directors in the For For Mgmt Aggregate Amount of SEK 3 Million; Approve Remuneration of SEK 500,000 for Committee Work 13 Approve Stock Option and Stock Appreciation For Against Mgmt Rights Plan for Key Employees; Approve Reissuance of 950,000 Repurchased Shares to Guarantee Conversion Rights SHAREHOLDER PROPOSALS 14.1 Shareholder Proposal: Approve Unification Against For ShrHoldr of Capital Structure without Compensation to Class A Shareholders 14.2 Shareholder Proposal: Approve (Voluntary) Against Against ShrHoldr Conversion of Class B Shares into Class A Shares 15.1 Shareholder Proposal: Authorize General Against For ShrHoldr Meeting to Elect Members of Nominating Committee ORDINARY BUSINESS 15.2 Authorize Chairman of Board to Appoint Four For Against Mgmt Representatives of Company's Largest Shareholders to Serve on Nominating Committee 16 Close Meeting None None Mgmt 04/27/04 - A/S L'AIR LIQUIDE F01764103 None 2,190 ORDINARY BUSINESS 1 Approve Financial Statements and Statutory For ** Mgmt Reports 2 Accept Consolidated Financial Statements For ** Mgmt and Statutory Reports 3 Approve Allocation of Income and Dividends For ** Mgmt of EUR 4.80 per Share 4 Authorize Repurchase of Up to Ten Percent For ** Mgmt of Issued Share Capital 5 Elect Rolf Krebs as Supervisory Board Member For ** Mgmt 6 Reelect Edouard Royere as Supervisory Board For ** Mgmt Member 7 Ratify Ernst & Young as Auditors For ** Mgmt 8 Ratify Mazars & Guerard as Auditors For ** Mgmt 9 Ratify Valerie Quint as Alternate Auditor For ** Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 38 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 10 Ratify Patrick De Cambourg as Alternate For ** Mgmt Auditor 11 Approve Special Auditors' Report Regarding For ** Mgmt Related-Party Transactions 12 Authorize Issuance of Bonds/Debentures in For ** Mgmt the Aggregat Value of Up to EUR 4 Billion SPECIAL BUSINESS 13 Approve Reduction in Share Capital via For ** Mgmt Cancellation of Repurchased Shares 14 Authorize Increase in Capital by For ** Mgmt Capitalization of Reserves or by Issuance of Equity or Equity-Linked Securities with and without Preemptive Rights for an Aggregate Nominal Amount Up to EUR 2 Billion 15 Authorize Issuance of Convertible Bonds For ** Mgmt with and without Preemptive Rights and Approve Creation of EUR 1.5 Billion Pool of Conditional Capital to Guarantee Conversion Rights 16 Approve Stock Option Plan Grants For ** Mgmt 17 Approve Capital Increase Reserved for For ** Mgmt Employees Participating in Savings-Related Share Purchase Plan 18 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/27/04 - A/S SCHNEIDER ELECTRIC SA (FORMERLY F86921107 None 3,822 SCHNEIDER SA) ORDINARY BUSINESS 1 Approve Financial Statements and Statutory For ** Mgmt Reports 2 Accept Consolidated Financial Statements For ** Mgmt and Statutory Reports 3 Approve Special Auditors' Report Regarding For ** Mgmt Related-Party Transactions 4 Approve Allocation of Income and Dividends For ** Mgmt of EUR 1.65 per Share 5 Elect Caisse des Depots et Consignations, For ** Mgmt Represented by Jerome Gallot, as Director 6 Elect Chris C. Richardson as Director For ** Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 39 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 7 Reelect Alain Burq as Representative of For ** Mgmt Employee Shareholders to the Board 8 Reelect Daniel Bouton as Director For ** Mgmt 9 Reelect Thierry Breton as Director For ** Mgmt 10 Reelect Willy Kissling as Director For ** Mgmt 11 Reelect Piero Sierra as Director For ** Mgmt 12 Reappoint Barbier Frinault et Autres (Ernst For ** Mgmt & Young) as Auditors 13 Ratify Philippe Diu as Alternate Auditor to For ** Mgmt Barbier Frinault et Autres (Ernst & Young) 14 Appoint Mazars & Guerard as Auditor For ** Mgmt 15 Ratify Charles Vincensini as Alternate For ** Mgmt Auditor to Mazars & Guerard 16 Authorize Repurchase of Up to Ten Percent For ** Mgmt of Issued Share Capital SPECIAL BUSINESS 17 Amend Articles of Association to Authorize For ** Mgmt the Appointment of Censors 18 Approve Capital Increase Reserved for For ** Mgmt Employees Participating in Savings-Related Share Purchase Plan 19 Approve Stock Option Plan Grants For ** Mgmt 20 Approve Reduction in Share Capital via For ** Mgmt Cancellation of Repurchased Shares 21 Allow Board to Issue Shares in the Event of For ** Mgmt a Public Tender Offer or Share Exchange Offer 22 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/27/04 - A SYNGENTA AG H84140112 None 1,885 1 Accept Financial Statements and Statutory For ** Mgmt Reports 2 Approve Discharge of Board and Senior For ** Mgmt Management 3 Approve Allocation of Income and Omission For ** Mgmt of Dividends 4 Approve CHF 191.4 Million Reduction in For ** Mgmt Share Capital via Reduction in Par Value and Repayment to Shareholders 5 Amend Articles Re: Submission of For ** Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 40 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Shareholder Proposals 6 Authorize Repurchase of up to Ten Percent For ** Mgmt of Issued Share Capital 7 Reelect Rupert Gasser, Heinz Imhof, and For ** Mgmt Michael Pragnell as Directors 8 Reelect Ernst and Young AG as Auditors For ** Mgmt ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/28/04 - A COMPANHIA VALE DO RIO DOCE 204412209 03/29/04 2,310 MEETING FOR HOLDERS OF ADRS 1 APPRECIATION OF THE MANAGEMENT S REPORT AND For For Mgmt ANALYSIS, DISCUSSION AND VOTE ON THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2003. 2 PROPOSAL FOR THE DESTINATION OF THE PROFITS For For Mgmt OF THE SAID FISCAL YEAR. 3 ESTABLISHMENT OF THE TOTAL AND ANNUAL For For Mgmt REMUNERATION OF THE MEMBERS OF THE COMPANY S MANAGEMENT. 4 ELECTION OF THE MEMBERS OF THE FISCAL For For Mgmt COUNCIL AND ESTABLISHMENT OF THEIR REMUNERATION. 5 PROPOSAL OF CAPITAL INCREASE, THROUGH THE For For Mgmt CAPITALIZATION OF RESERVES, WITHOUT THE ISSUANCE OF SHARES, AND THE CONSEQUENT CHANGE OF THE HEAD SECTION OF ARTICLE 5 OF THE COMPANY S BY-LAWS. 04/28/04 - A/S RAS (RIUNIONE ADRIATICA DI SICURTA) T79470109 04/23/04 9,470 SPECIAL BUSINESS 1 Amend Articles To Reflect New Italian For ** Mgmt Company Law Regulations; Add One New Articles to Company's Bylaws; Renumber Articles of Association 2 Amend Rules Governing General For ** Mgmt Meetings - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 41 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ ORDINARY BUSINESS 1 Accept Financial Statements and Statutory For ** Mgmt Reports 2 Accept Resignation of Certain Directors; For ** Mgmt Fix Number of Directors on the Board; Elect Directors; Determine Directors' Remuneration 3 Accept Resignation of One Alternate For ** Mgmt Internal Statutory Auditor; Appoint One Auditor to Reintegrate Board of Internal Statutory Auditors 4 Authorize Share Repurchase Program and For ** Mgmt Reissuance of Repurchased Shares ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/28/04 - A/S TOTAL S.A. (FORMERLY TOTAL FINA ELF F92124100 None 1,880 S.A ) ORDINARY BUSINESS 1 Approve Financial Statements and Statutory For ** Mgmt Reports 2 Accept Consolidated Financial Statements For ** Mgmt and Statutory Reports 3 Approve Allocation of Income and Net For ** Mgmt Dividends of EUR 4.70 per Share 4 Approve Special Auditors' Report Regarding For ** Mgmt Related-Party Transactions 5 Authorize Repurchase of Up to Ten Percent For ** Mgmt of Issued Share Capital and Reissuance of Repurchased Shares 6 Authorize Issuance of Bonds/Debentures For ** Mgmt 7 Reelect Thierry Desmarest as Director For ** Mgmt 8 Reelect Thierry de Rudder as Director For ** Mgmt 9 Reelect Serge Tchuruk as Director For ** Mgmt 10 Elect Daniel Boeuf as Representative of For ** Mgmt Employee Shareholders to the Board 11 Elect Philippe Marchandise as Against ** Mgmt Representative of Employee Shareholders to the Board 12 Elect Cyril Mouche as Representative of Against ** Mgmt Employee Shareholders to the - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 42 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Board 13 Elect Alan Cramer as Representative of Against ** Mgmt Employee Shareholders to the Board 14 Ratify Ernst & Young Audit as Auditors For ** Mgmt 15 Ratify KPMG Audit as Auditors For ** Mgmt 16 Ratify Pierre Jouanne as Alternate Auditor For ** Mgmt 17 Ratify Jean-Luc Decornoy as Alternate For ** Mgmt Auditor 18 Approve Remuneration of Directors in the For ** Mgmt Aggregate Amount of EUR 900,000 SPECIAL BUSINESS 19 Approve Stock Option Plan Grants For ** Mgmt 20 Authorize Issuance of Equity or For ** Mgmt Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 4 Billion 21 Authorize Issuance of Equity or For ** Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 2 Billion 22 Approve Capital Increase Reserved for For ** Mgmt Employees Participating in Savings-Related Share Purchase Plan ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/29/04 - A AMVESCAP PLC G4917N106 None 42,090 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Approve Remuneration Report For For Mgmt 3 Approve Final Dividend of 6.5 Pence Per For For Mgmt Ordinary Share 4 Re-elect Joseph Canion as Director For For Mgmt 5 Re-elect Robert Graham as Director For For Mgmt 6 Elect Thomas Fischer as Director For For Mgmt 7 Re-elect Bevis Longstreth as Director For For Mgmt 8 Elect James Robertson as Director For For Mgmt 9 Re-elect Stephen West as Director For For Mgmt 10 Reappoint Ernst and Young LLP as Auditors For For Mgmt and Authorise Board to Fix Remuneration of Auditors 11 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 43 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Amount of GBP 61,750,000 12 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 10,032,500 13 Authorise 80,260,000 Ordinary Shares for For For Mgmt Market Purchase 14 Amend Articles of Association Re: For For Mgmt Retirement of Directors by Rotation and Repurchase of Shares to be Held in Treasury 15 Approve Amvescap International Sharesave For For Mgmt Plan 04/29/04 - A ASTRAZENECA PLC (FORMERLY ZENECA PLC) G0593M107 None 6,520 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Confirm First Interim Dividend of USD 0.255 For For Mgmt Per Ordinary Share and Confirm as the Final Dividend the Second Interim Dividend of USD 0.540 Per Ordinary Share 3 Reappoint KPMG Audit Plc as Auditors of the For For Mgmt Company 4 Authorise Board to Fix Remuneration of the For For Mgmt Auditors 5a Re-elect Percy Barnevik as Director For For Mgmt 5b Re-elect Hakan Mogren as Director For For Mgmt 5c Re-elect Sir Tom McKillop as Director For For Mgmt 5d Re-elect Jonathan Symonds as Director For For Mgmt 5e Re-elect Sir Peter Bonfield as Director For For Mgmt 5f Re-elect John Buchanan as Director For For Mgmt 5g Re-elect Jane Henney as Director For For Mgmt 5h Elect Michele Hooper as Director For For Mgmt 5i Elect Joe Jimenez as Director For For Mgmt 5j Re-elect Erna Moller as Director For For Mgmt 5k Re-elect Dame Bridget Ogilvie as Director For For Mgmt 5l Elect Louis Schweitzer as Director For For Mgmt 5m Re-elect Marcus Wallenberg as Director For For Mgmt 6 Approve Remuneration Report For For Mgmt 7 Adopt New Articles of Association For For Mgmt 8 Authorise EU Political Donations up to For For Mgmt Aggregate Nominal Amount of USD 150,000 - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 44 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 9 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of USD 140,456,500 10 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of USD 21,068,745 11 Authorise up to 10 Percent of the Company's For For Mgmt Issued Share Capital for Market Purchase 12 Approve Increase in Remuneration of For For Mgmt Non-Executive Directors from GBP 750,000 to GBP 1,100,000 04/29/04 - A DNB NOR ASA(FRMLY DNB HOLDING ASA R1812S105 None 12,524 (FORMERLY DEN NORSKE BANK AS)) 1 Amend Articles Re: Decrease Number of For For Mgmt Election Committees from Two to One; Editorial Changes 2 Reelect Wenche Agerup, Rannveig Arentz, For For Mgmt Nils Bastiansen, Herbjoern Hansson, Jan Hopland, Finn Jebsen, Odd Lunde, Harald Norvik, Marit Toensberg, and Tor Oewre as Directors 3 Elect Svein Brustad as New Deputy Member of For For Mgmt Control Committee 4 Elect Elisabeth Berge, Trond Mohn, Jan For For Mgmt Solberg, and Joergen Toemmeraas as New Members of Election Committee 5 Approve Financial Statements, Allocation of For For Mgmt Income and Dividends of NOK 2.20 Per Share 6 Approve Remuneration of Auditors in the For For Mgmt Amount of NOK 590,000 for 2003 7 Approve Remuneration of Directors, Members For For Mgmt of Corporate Assembly, and Members of the Election Committees 8 Authorize Repurchase of Up to Ten Percent For For Mgmt of Issued Share Capital SHAREHOLDER PROPOSALS 9 Shareholder Proposal: Unspecified Proposal None None ShrHoldr Received from Kaare Byrkjeland - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 45 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/29/04 - A HENNES & MAURITZ AB W41422101 04/19/04 13,450 1 Elect Chairman of Meeting For For Mgmt 2 Receive President's Report None None Mgmt 3 Prepare and Approve List of Shareholders For For Mgmt 4 Approve Agenda of Meeting For For Mgmt 5 Designate Inspector or Shareholder For For Mgmt Representative(s) of Minutes of Meeting 6 Acknowledge Proper Convening of Meeting For For Mgmt 7 Receive Financial Statements and Statutory None None Mgmt Reports 8.1 Accept Financial Statements and Statutory For For Mgmt Reports 8.2 Approve Allocation of Income, Ordinary For For Mgmt Dividends of SEK 2.90 Per Share, and Special Dividends of SEK 3.10 Per Share 8.3 Approve Discharge of Board and President For For Mgmt 9 Determine Number of Members (7) and Deputy For For Mgmt Members (2) of Board 10 Approve Remuneration of Directors in the For For Mgmt Aggregate Amount of SEK 3.9 Million; Approve Remuneration of Auditors 11 Reelect Fred Andersson, Werner Hofer, Sussi For For Mgmt Kvart, Bo Lindquist, Stig Nordfelt, Stefan Persson, and Melker Schoerling as Directors; Reelect Jan Jacobsen and Rolf Eriksen as Deputy Directors SHAREHOLDER PROPOSALS 12.1A Shareholder Proposal: Authorize General Against For ShrHoldr Meeting to Elect Members of Nominating Committee ORDINARY BUSINESS 12.1B Authorize Chairman of Board to Appoint Four For Against Mgmt Representatives of Company's Largest Shareholders to Serve on Nominating Committee SHAREHOLDER PROPOSALS 12.2 Shareholder Proposal: Authorize Board to Against For ShrHoldr Establish a Remuneration Committee 12.3 Shareholder Proposal: Authorize Board Against For ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 46 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ to Establish an Audit Committee ORDINARY BUSINESS 13 Other Business (Non-Voting) None None Mgmt 04/29/04 - S L'OREAL F58149133 None 2,540 SPECIAL BUSINESS 1 Remove Double-Voting Rights for Long-Term For ** Mgmt Registered Shareholders, Pending Approval of Item 3 2 Amend Articles of Association to Allow For ** Mgmt Registered Shareholders to Register Holdings in Their Name by the Day of the Meeting, Pending Approval of Item 3 3 Approve Merger by Absorption of Gesparal; For ** Mgmt Approve Dissolution of Gesparal without Liquidation 4 Approve Reduction in Share Capital via For ** Mgmt Cancellation of L'Oreal Shares Held by Gesparal 5 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/29/04 - A L'OREAL F58149133 None 2,540 ORDINARY BUSINESS 1 Approve Financial Statements and Discharge For ** Mgmt Directors 2 Accept Consolidated Financial Statements For ** Mgmt and Statutory Reports 3 Approve Allocation of Income and Dividends For ** Mgmt of EUR 1.10 per Share 4 Approve Special Auditors' Report Regarding For ** Mgmt Related-Party Transactions 5 Reelect Rainer E. Gut as Director For ** Mgmt 6 Elect Bernard Kasriel as Director For ** Mgmt 7 Approve Remuneration of Directors in the For ** Mgmt Aggregate Amount of EUR 1 Million 8 Appoint PricewaterhouseCoopers Audit as For ** Mgmt Auditors and Yves Nicolas as Deputy Auditor 9 Appoint Deloitte Touche Tohmatsu Audit as For ** Mgmt Auditors and Jean-Paul Picard - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 47 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ as Deputy Auditor 10 Authorize Repurchase of Up to Ten Percent For ** Mgmt of Issued Share Capital 11 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/29/04 - A REED ELSEVIER NV (FORMERLY ELSEVIER N73430105 04/22/04 16,890 Nv) 1 Open Meeting None ** Mgmt 2 Documents Received None ** Mgmt 3 Receive Report of Management Board None ** Mgmt 4 Approve Financial Statements and Statutory For ** Mgmt Reports 5 Approve Dividends of EUR 0.30 per Ordinary For ** Mgmt Share 6 Discussion about Company's Corporate None ** Mgmt Governance Report 7.1 Approve Discharge of Management Board For ** Mgmt 7.2 Approve Discharge of Supervisory Board For ** Mgmt 8 Reelect Deloitte Accountants as Auditors For ** Mgmt 10 Reelect G. van de Aast as Member of For ** Mgmt Management Board 11 Authorize Repurchase of Up to Ten Percent For ** Mgmt of Issued Share Capital 12.1 Grant Board Authority to Issue Shares Up to For ** Mgmt Ten Percent of Issued Share Capital 12.2 Grant Board Authority to Restrict/Exclude For ** Mgmt Preemptive Rights for Share Issuance under Item 12.1 13 Other Business None ** Mgmt 14 Close Meeting None ** Mgmt ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 48 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/29/04 - A ROYAL BANK OF SCOTLAND GROUP PLC G76891111 None 7,612 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Approve Remuneration Report For For Mgmt 3 Approve Final Dividend of 35.7 Pence Per For For Mgmt Share 4 Re-elect Emilio Botin as Director For For Mgmt 5 Re-elect Lawrence Fish as Director For For Mgmt 6 Re-elect Sir Angus Grossart as Director For For Mgmt 7 Re-elect Sir George Mathewson as Director For For Mgmt 8 Re-elect Gordon Pell as Director For For Mgmt 9 Re-elect Iain Robertson as Director For For Mgmt 10 Re-elect Sir Iain Vallance as Director For For Mgmt 11 Re-appoint Deloitte and Touche LLP as For For Mgmt Auditors of the Company 12 Authorise Board to Fix Remuneration of the For For Mgmt Auditors 13 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 247,120,127 14 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 37,068,019 15 Authorise 296,544,152 Ordinary Shares for For For Mgmt Market Purchase 16 Approve Increase in Authorised Capital by For For Mgmt Creation of 110 Million Category II Non-cumulative Dollar Preference Shares; Issue Equity with Pre-emptive Rights up to All the Existing Preference Shares 17 Amend Articles Re: Preference Shares For For Mgmt 04/29/04 - A TELEFONICA S.A. (FORMERLY TELEFONICA E90183182 None 20,176 DE ESPANA, S.A.) 1 Approve Financial Statements, Allocation of For For Mgmt Income, and Discharge Directors 2 Approve Dividend Per Share For For Mgmt 3 Approve Auditors For For Mgmt 4 Authorize Repurchase of Shares For For Mgmt 5 Approve General Meeting Guidelines For For Mgmt 6 Authorize Board to Ratify and Execute For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 49 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Approved Resolutions 04/29/04 - A UNITED OVERSEAS BANK V96194127 None 10,000 1 Adopt Financial Statements and Directors' For For Mgmt and Auditors' Reports 2 Declare Final Dividend of SGD 0.40 Per Share For For Mgmt 3 Approve Directors' Fees of SGD 618,750 For For Mgmt 4 Reappoint Ernst & Young as Auditors and For For Mgmt Authorize Board to Fix Their Remuneration 5 Reelect Sim Wong Hoo as Director For For Mgmt 6 Reelect Lim Pin as Director For For Mgmt 7 Reelect Margaret Lien Wen Hsien as Director For For Mgmt 8 Reelect Ng Boon Yew as Director For For Mgmt 9 ReappointWee Cho Yaw as Director For For Mgmt 10 Approve Issuance of Shares and Grant of For For Mgmt Options Pursuant to the 1999 Share Option Scheme 11 Approve Issuance of Shares without For For Mgmt Preemptive Rights 04/29/04 - S UNITED OVERSEAS BANK V96194127 None 10,000 1 Authorize Share Repurchase Program For For Mgmt 04/30/04 - A CREDIT SUISSE GROUP (FORMERLY CS H3698D419 None 13,350 HOLDING) 1 Accept Financial Statements and Statutory For ** Mgmt Reports 2 Approve Discharge of Board and Senior For ** Mgmt Management 3.1 Approve Allocation of Income and Omission For ** Mgmt of Dividends 3.2 Approve CHF 597.5 Million Reduction in For ** Mgmt Share Capital via Reduction in Par Value and Repayment to Shareholders 4.2 Reelect KPMG Klynveld Peat Marwick For ** Mgmt Goerdeler SA as Auditors 4.3 Reelect BDO Sofirom as Special Auditors For ** Mgmt 5.1 Amend Articles Re: Submission of For ** Mgmt Shareholder Proposals 5.2 Amend Articles Re: Delete Provisions For ** Mgmt Concerning Contributions In Kind - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 50 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 04/30/04 - A DBS GROUP HOLDINGS LTD. (FORMERLY Y20246107 None 16,000 DEVELOPMENT BANK OF SINGAPORE) 1 Adopt Financial Statements and Directors' For For Mgmt and Auditors' Reports 2a Declare Final Dividend of SGD 0.16 Per For For Mgmt Ordinary Share 2b Declare Final Dividend of SGD 0.16 Per For For Mgmt Non-Voting Convertible Preference Share 2c Declare Final Dividend of SGD 0.16 Per For For Mgmt Non-Voting Redeemable Convertible Preference Share 3 Approve Directors' Fees of SGD 647,851 for For For Mgmt the Year Ended Dec. 31, 2003 4 Reappoint Ernst & Young as Auditors and For For Mgmt Authorize Board to Fix Their Remuneration 5a Reelect S. Dhanabalan as Director For For Mgmt 5b Reelect Bernard Chen Tien Lap as Director For For Mgmt 5c Reelect Fock Siew Wah as Director For For Mgmt 5d Reelect Kwa Chong Seng as Director For For Mgmt 5e Reelect Narayana Murthy as Director For For Mgmt 5f Reelect Frank Wong Kwong Shing as Director For For Mgmt 5g Reappoint Thean Lip Ping as Director For For Mgmt 6a Approve Issuance of Shares and Grant of For For Mgmt Options Pursuant to the Share Option Plan 6b Approve Issuance of Shares and Grant of For For Mgmt Options Pursuant to the Performance Share Plan 6c Approve Issuance of Shares without For For Mgmt Preemptive Rights 04/30/04 - S DBS GROUP HOLDINGS LTD. (FORMERLY Y20246107 None 16,000 DEVELOPMENT BANK OF SINGAPORE) 1 Amend Articles of Association For For Mgmt 2 Approve Issuance of Shares without For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 51 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Preemptive Rights 3 Authorize Share Repurchase Program For For Mgmt 04/30/04 - A TELEFONICA S.A. (FORMERLY TELEFONICA E90183182 None 18,966 DE ESPANA, S.A.) 1 Approve Financial Statements, Allocation of For For Mgmt Income, and Discharge Directors 2 Approve Dividend Per Share For For Mgmt 3 Approve Auditors For For Mgmt 4 Authorize Repurchase of Shares For For Mgmt 5 Approve General Meeting Guidelines For For Mgmt 6 Authorize Board to Ratify and Execute For For Mgmt Approved Resolutions 05/04/04 - A ERSTE BANK DER OESTER SPARK A19494102 None 1,840 1 Receive Financial Statements and Statutory None ** Mgmt Reports 2 Approve Allocation of Income For ** Mgmt 3.a Approve Discharge of Management Board For ** Mgmt 3.b Approve Discharge of Supervisory Board For ** Mgmt 4 Approve Remuneration of Directors For ** Mgmt 5 Elect Supervisory Board Members For ** Mgmt 6 Ratify Auditors For ** Mgmt 7 Approve Spin-Off Agreement of FINAG-Holding For ** Mgmt AG 8 Approve EUR 43.9 Million Capitalization of For ** Mgmt Reserves 9 Approve 4:1 Stock Split For ** Mgmt 10 Approve Creation of EUR 16.7 Million Pool For ** Mgmt of Conditional Capital with Preemptive Rights 11 Authorize Repurchase of Up to Ten Percent For ** Mgmt of Issued Share Capital for Trading Purposes 12 Authorize Share Repurchase Program and For ** Mgmt Reissuance of Repurchased Shares 13 Amend Articles For ** Mgmt ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 52 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/06/04 - A SANDVIK AB W74857165 04/26/04 6,990 1 Open Meeting None None Mgmt 2 Elect Chairman of Meeting For For Mgmt 3 Prepare and Approve List of Shareholders For For Mgmt 4 Approve Agenda of Meeting For For Mgmt 5 Designate Inspector or Shareholder For For Mgmt Representative(s) of Minutes of Meeting 6 Acknowledge Proper Convening of Meeting For For Mgmt 7 Receive Financial Statements and Statutory None None Mgmt Reports; Receive Board and Committee Reports; Receive President's Report 8 Accept Financial Statements and Statutory For For Mgmt Reports 9 Approve Discharge of Board and President For For Mgmt 10 Approve Allocation of Income and Dividends For For Mgmt of SEK 10.50 Per Share 11 Determine Number of Members (8) and Deputy For For Mgmt Members (0) of Board 12 Approve Remuneration of Directors in the For For Mgmt Amount of SEK 975,000 for Chairman and SEK 325,000 for Other Board Members; Approve Remuneration of SEK 200,000 for Committee Work 13 Reelect George Ehrnrooth, Clas Aake For For Mgmt Hedstroem, Sigrun Hjelmquist, Egil Myklebust, Arne Maartensson, Lars Nyberg, Anders Nyren, and Lars Pettersson as Directors 14 Amend Articles Re: Specify that Audit Firm For For Mgmt (One) or Individuals (Two or Three and Two or Three Deputies) May be Appointed as Auditor(s) 15 Determine Number of Auditors (One Audit For For Mgmt Firm) 16 Approve Remuneration of Auditors For For Mgmt 17 Ratify KPMG Bohlins AB as Auditors For For Mgmt 18.1 Authorize Chairman of Board to Appoint Four For Against Mgmt Representatives of Company's Largest Shareholders to Serve on Nominating Committee SHAREHOLDER PROPOSALS 18.2 Shareholder Proposal: Authorize Against For ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 53 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ General Meeting to Elect Members of Nominating Committee ORDINARY BUSINESS 19 Authorize Repurchase of Up to Ten Percent For For Mgmt of Issued Share Capital 05/06/04 - A/S SCHNEIDER ELECTRIC SA (FORMERLY F86921107 None 5,044 SCHNEIDER SA) ORDINARY BUSINESS 1 Approve Financial Statements and Statutory For ** Mgmt Reports 2 Accept Consolidated Financial Statements For ** Mgmt and Statutory Reports 3 Approve Special Auditors' Report Regarding For ** Mgmt Related-Party Transactions 4 Approve Allocation of Income and Dividends For ** Mgmt of EUR 1.65 per Share 5 Elect Caisse des Depots et Consignations, For ** Mgmt Represented by Jerome Gallot, as Director 6 Elect Chris C. Richardson as Director For ** Mgmt 7 Reelect Alain Burq as Representative of For ** Mgmt Employee Shareholders to the Board 8 Reelect Daniel Bouton as Director For ** Mgmt 9 Reelect Thierry Breton as Director For ** Mgmt 10 Reelect Willy Kissling as Director For ** Mgmt 11 Reelect Piero Sierra as Director For ** Mgmt 12 Reappoint Barbier Frinault et Autres (Ernst For ** Mgmt & Young) as Auditors 13 Ratify Philippe Diu as Alternate Auditor to For ** Mgmt Barbier Frinault et Autres (Ernst & Young) 14 Appoint Mazars & Guerard as Auditor For ** Mgmt 15 Ratify Charles Vincensini as Alternate For ** Mgmt Auditor to Mazars & Guerard 16 Authorize Repurchase of Up to Ten Percent For ** Mgmt of Issued Share Capital SPECIAL BUSINESS 17 Amend Articles of Association to Authorize For ** Mgmt the Appointment of Censors 18 Approve Capital Increase Reserved for For ** Mgmt Employees Participating in Savings-Related Share Purchase Plan 19 Approve Stock Option Plan Grants For ** Mgmt 20 Approve Reduction in Share Capital via For ** Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 54 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Cancellation of Repurchased Shares 21 Allow Board to Issue Shares in the Event of For ** Mgmt a Public Tender Offer or Share Exchange Offer 22 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 05/12/04 - A/S L'AIR LIQUIDE F01764103 None 2,060 ORDINARY BUSINESS 1 Approve Financial Statements and Statutory For ** Mgmt Reports 2 Accept Consolidated Financial Statements For ** Mgmt and Statutory Reports 3 Approve Allocation of Income and Dividends For ** Mgmt of EUR 4.80 per Share 4 Authorize Repurchase of Up to Ten Percent For ** Mgmt of Issued Share Capital 5 Elect Rolf Krebs as Supervisory Board Member For ** Mgmt 6 Reelect Edouard Royere as Supervisory Board For ** Mgmt Member 7 Ratify Ernst & Young as Auditors For ** Mgmt 8 Ratify Mazars & Guerard as Auditors For ** Mgmt 9 Ratify Valerie Quint as Alternate Auditor For ** Mgmt 10 Ratify Patrick De Cambourg as Alternate For ** Mgmt Auditor 11 Approve Special Auditors' Report Regarding For ** Mgmt Related-Party Transactions 12 Authorize Issuance of Bonds/Debentures in For ** Mgmt the Aggregat Value of Up to EUR 4 Billion SPECIAL BUSINESS 13 Approve Reduction in Share Capital via For ** Mgmt Cancellation of Repurchased Shares 14 Authorize Increase in Capital by For ** Mgmt Capitalization of Reserves or by Issuance of Equity or Equity-Linked Securities with and without Preemptive Rights for an Aggregate Nominal Amount Up to EUR 2 Billion 15 Authorize Issuance of Convertible Bonds For ** Mgmt with and without Preemptive - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 55 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Rights and Approve Creation of EUR 1.5 Billion Pool of Conditional Capital to Guarantee Conversion Rights 16 Approve Stock Option Plan Grants For ** Mgmt 17 Approve Capital Increase Reserved for For ** Mgmt Employees Participating in Savings-Related Share Purchase Plan 18 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 05/13/04 - A BAYERISCHE MOTOREN WERKE AG (BMW) D12096109 None 5,980 1 Receive Financial Statements and Statutory None ** Mgmt Reports 2 Approve Allocation of Income and Dividends For ** Mgmt of EUR 0.58 per Common Share and EUR 0.60 per Preference Share 3 Approve Discharge of Management Board For ** Mgmt 4 Approve Discharge of Supervisory Board For ** Mgmt 5 Ratify KPMG Deutsche Treuhand-Gesellschaft For ** Mgmt AG as Auditors 6 Elect Volker Doppelfeld, Franz Haniel, For ** Mgmt Arthur Kelly, Susanne Klatten, Hubert Markl, Wolfgang Mayrhuber, Joachim Milberg, Stefan Quandt, Juergen Strube, and Hans-Dietrich Winkhaus to the Supervisory Board ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 05/13/04 - A NEXT PLC G6500M106 None 6,520 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Approve Remuneration Report For For Mgmt 3 Approve Final Dividend of 24 Pence Ordinary For For Mgmt Share 4 Elect Nick Brookes as Director For For Mgmt 5 Re-elect David Keens as Director For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 56 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 6 Re-appoint Ernst and Young LLP as Auditors For For Mgmt and Authorise Board to Fix Remuneration of Auditors 7 Authorise Directors to Alter the Rules of For For Mgmt the Company's Employee Share Option Schemes to Permit Options Granted Over Treasury Shares 8 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities and the Sale of Treasury Shares without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 1,300,000 9 Authorise 39 Million Ordinary Shares for For For Mgmt Market Purchase 05/13/04 - A RECKITT BENCKISER PLC (FORMERLY G7420A107 None 23,254 RECKITT & COLMAN PLC ) 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Approve Remuneration Report For For Mgmt 3 Approve Final Dividend of 14 Pence Per For For Mgmt Ordinary Share 4 Re-elect George Greener as Director For For Mgmt 5 Re-elect Peter White as Director For For Mgmt 6 Re-elect Colin Day as Director For For Mgmt 7 Elect Judith Sprieser as Director For For Mgmt 8 Elect Kenneth Hydon as Director For For Mgmt 9 Re-appoint PricewaterhouseCoopers LLP as For For Mgmt Auditors and Authorise Board to Fix Remuneration of Auditors 10 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 24,842,000 11 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 3,726,000 12 Authorise 70,800,000 Ordinary Shares for For For Mgmt Market Purchase 05/14/04 - A/S TOTAL S.A. (FORMERLY TOTAL FINA ELF F92124100 None 3,650 S.A ) ORDINARY BUSINESS 1 Approve Financial Statements and For ** Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 57 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Statutory Reports 2 Accept Consolidated Financial Statements For ** Mgmt and Statutory Reports 3 Approve Allocation of Income and Net For ** Mgmt Dividends of EUR 4.70 per Share 4 Approve Special Auditors' Report Regarding For ** Mgmt Related-Party Transactions 5 Authorize Repurchase of Up to Ten Percent For ** Mgmt of Issued Share Capital and Reissuance of Repurchased Shares 6 Authorize Issuance of Bonds/Debentures For ** Mgmt 7 Reelect Thierry Desmarest as Director For ** Mgmt 8 Reelect Thierry de Rudder as Director For ** Mgmt 9 Reelect Serge Tchuruk as Director For ** Mgmt 10 Elect Daniel Boeuf as Representative of For ** Mgmt Employee Shareholders to the Board 11 Elect Philippe Marchandise as Against ** Mgmt Representative of Employee Shareholders to the Board 12 Elect Cyril Mouche as Representative of Against ** Mgmt Employee Shareholders to the Board 13 Elect Alan Cramer as Representative of Against ** Mgmt Employee Shareholders to the Board 14 Ratify Ernst & Young Audit as Auditors For ** Mgmt 15 Ratify KPMG Audit as Auditors For ** Mgmt 16 Ratify Pierre Jouanne as Alternate Auditor For ** Mgmt 17 Ratify Jean-Luc Decornoy as Alternate For ** Mgmt Auditor 18 Approve Remuneration of Directors in the For ** Mgmt Aggregate Amount of EUR 900,000 SPECIAL BUSINESS 19 Approve Stock Option Plan Grants For ** Mgmt 20 Authorize Issuance of Equity or For ** Mgmt Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 4 Billion 21 Authorize Issuance of Equity or For ** Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 2 Billion 22 Approve Capital Increase Reserved for For ** Mgmt Employees Participating in Savings-Related Share Purchase Plan - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 58 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 05/17/04 - A WILLIAM HILL PLC G9645P117 None 28,860 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Approve Remuneration Report For For Mgmt 3 Approve Final Dividend of 9 Pence Per For For Mgmt Ordinary Share 4 Re-elect David Allvey as Director For For Mgmt 5 Re-elect Barry Gibson as Director For For Mgmt 6 Re-appoint Deloitte and Touche LLP as For For Mgmt Auditors of the Company 7 Authorise Board to Fix Remuneration of the For For Mgmt Auditors 8 Amend the 2004 Senior Management Operating For For Mgmt Bonus Scheme, the William Hill Executive Director Incentive Plan, the William Hill Long Term Incentive Plan and the William Hill SAYE Share Option Schemes 9 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 14,060,370 10 Amend Articles of Association Re: For For Mgmt Disapplication of Pre-emptive Rights 11 Amend Articles of Association Re: Treasury For For Mgmt Shares 12 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount Equal to Five Percent of the Issued Share Capital 13 Authorise 42,811,111 Ordinary Shares for For For Mgmt Market Purchase 05/19/04 - A/S CREDIT AGRICOLE SA F22797108 None 18,886 ORDINARY BUSINESS 1 Approve Financial Statements and Discharge For ** Mgmt Directors 2 Accept Consolidated Financial Statements For ** Mgmt and Statutory Reports 3 Approve Allocation of Income and For ** Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 59 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Dividends of EUR 0.825 per Share 4 Approve Special Auditors' Report Regarding For ** Mgmt Related-Party Transactions 5 Elect Alain Dieval as Director in For ** Mgmt Replacement of Pierre Bastide 6 Elect Daniel Lebegue as Director in For ** Mgmt Replacement of Jean Peyrelevade 7 Elect Michel Michaut as Director in For ** Mgmt Replacement of Jean-Marie Sander 8 Reelect Pierre Bru as Director For ** Mgmt 9 Reelect Yves Couturier as Director For ** Mgmt 10 Reelect Pierre Kerfriden as Director For ** Mgmt 11 Reelect Jean Le Brun as Director For ** Mgmt 12 Confirm End of Term of Cabinet Alain Laine For ** Mgmt as Auditors and Cabinet Mazars & Guerard as Deputy Auditor and Appoint New Auditors 13 Authorize Issuance of Bonds/Debentures Up For ** Mgmt to Aggregate Amount of EUR 20 Billion 14 Approve Remuneration of Directors in the For ** Mgmt Aggregate Amount of EUR 670,000 15 Authorize Repurchase of Up to Ten Percent For ** Mgmt of Issued Share Capital SPECIAL BUSINESS 16 Authorize Issuance of Equity or For ** Mgmt Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 1 Billion 17 Authorize Issuance of Equity or For ** Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 1 Bilion 18 Authorize Capitalization of Reserves of Up For ** Mgmt to EUR 3 Billion for Bonus Issue or Increase in Par Value 19 Approve Capital Increase Reserved for For ** Mgmt Employees Participating in Savings-Related Share Purchase Plan 20 Approve Reduction in Share Capital via For ** Mgmt Cancellation of Repurchased Shares 21 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 60 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/21/04 - A BG GROUP PLC (FRM. BG PLC) G1245Z108 None 11,480 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Approve Remuneration Report For For Mgmt 3 Approve Final Dividend of 1.86 Pence Per For For Mgmt Ordinary Share 4 Re-elect Peter Backhouse as Director For For Mgmt 5 Re-elect Paul Collins as Director For For Mgmt 6 Re-elect William Friedrich as Director For For Mgmt 7 Re-elect Lord Sharman as Director For For Mgmt 8 Re-elect Keith Mackrell as Director For For Mgmt 9 Re-appoint PricewaterhouseCoopers LLP as For For Mgmt Auditors of the Company 10 Authorise Audit Committee to Fix For For Mgmt Remuneration of the Auditors 11 Authorise EU Political Donations and EU For For Mgmt Political Expenditure up to Aggregate Nominal of GBP 25,000 12 Approve the Use of Treasury Shares for the For For Mgmt Exercise of Options or the Vesting of Other Share Awards Under the Company's Share Schemes 13 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 117,730,026 14 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 17,659,504 15 Authorise 353,190,078 Ordinary Shares for For For Mgmt Market Purchase 05/21/04 - A IRISH LIFE AND PERMANENT PLC (FRM. G4945H105 None 7,250 IRISH PERMANENT) ORDINARY BUSINESS 1 Receive and Consider Financial Statements For For Mgmt and Statutory Reports 2 Declare a Final Dividend For For Mgmt 3a Reelect Denis Casey as a Director For For Mgmt 3b Reelect Kieran McGowan as a Director For For Mgmt 3c Reelect Kevin Murphy as a Director For For Mgmt 3d Reelect Finbar Sheehan as a Director For For Mgmt 3e Reelect David Went as a Director For For Mgmt 4 Authorize Board to Fix Remuneration For For Mgmt of Auditors - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 61 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ SPECIAL BUSINESS 5 Authorize Share Repurchase Program and For For Mgmt Reissuance of Repurchased Shares 6 Authorize Board to Allot Equity Securities For For Mgmt for Cash without Preemptive Rights up to Aggregate Nominal Amount of Five Percent of Issued and Outstanding Ordinary Share Capital 05/24/04 - A/S SANOFI-SYNTHELABO (FORMERLY SANOFI) F5548N101 None 3,505 ORDINARY BUSINESS 1 Approve Financial Statements and Statutory For ** Mgmt Reports 2 Accept Consolidated Financial Statements For ** Mgmt and Statutory Reports 3 Approve Allocation of Income and Dividends For ** Mgmt of EUR 1.53 per Share 4 Approve Special Auditors' Report Regarding For ** Mgmt Related-Party Transactions 5 Reelect Jean-Francois Dehecq as Director For ** Mgmt 6 Reelect Rene Barbier de la Serre as Director For ** Mgmt 7 Reelect Robert Castaigne as Director For ** Mgmt 8 Reelect Pierre Castres Saint Martin as For ** Mgmt Director 9 Reelect Thierry Desmarest as Director For ** Mgmt 10 Reelect Pierre-Gilles de Gennes as Director For ** Mgmt 11 Reelect Herve Guerin as Director For ** Mgmt 12 Reelect Lindsay Owen-Jones as Director For ** Mgmt 13 Reelect Bruno Weymuller as Director For ** Mgmt 14 Elect Jean-Paul Leon as Director For ** Mgmt 15 Elect Christian Mulliez as Director For ** Mgmt 16 Authorize Repurchase of Up to Ten Percent For ** Mgmt of Issued Share Capital 17 Authorize Issuance of Bonds/Debentures in For ** Mgmt the Aggregate Value of Up to EUR 7 Billion SPECIAL BUSINESS 18 Authorize Issuance of Equity or For ** Mgmt Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 62 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Amount of EUR 750 Million 19 Authorize Issuance of Equity or For ** Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 750 Million 20 Allow Board to Issue Shares in the Event of For ** Mgmt a Public Tender Offer or Share Exchange Offer 21 Authorize Capitalization of Reserves of Up For ** Mgmt to EUR 500 Million for Bonus Issue or Increase in Par Value 22 Approve Capital Increase Reserved for For ** Mgmt Employees Participating in Savings-Related Share Purchase Plan 23 Approve Stock Option Plan Grants For ** Mgmt 24 Approve Reduction in Share Capital via For ** Mgmt Cancellation of Repurchased Shares 25 Amend Articles to Reflect 2003 Legal For ** Mgmt Changes Re: Powers of the Chairman 26 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED DUE TO SHAREBLOCKING RESTRICTION. THE POTENTIAL IMPACT ON TRADING/LOAN SHARE ACTIVITIES WOULD OUTWEIGH THE ECONOMIC VALUE OF THE VOTE. 06/03/04 - A KINGFISHER PLC G5256E441 None 60,569 1 Accept Financial Statements and Statutory For For Mgmt Reports 2 Approve Remuneration Report For For Mgmt 3 Approve Final Dividend of 6.15 Pence Per For For Mgmt Ordinary Share 4 Elect Duncan Tatton-Brown as Director For For Mgmt 5 Re-elect Sir Francis Mackay as Director For For Mgmt 6 Re-elect Michael Hepher as Director For For Mgmt 7 Re-elect Margaret Salmon as Director For For Mgmt 8 Re-appoint PricewaterhouseCoopers LLP as For For Mgmt Auditors and Authorise Board to Fix Remuneration of Auditors 9 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 108,526,099 10 Approve Scrip Dividend For For Mgmt 11 Authorise Issuance of Equity or For For Mgmt Equity-Linked Securities without Pre-emptive Rights up to a Nominal Value of 5 - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 63 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Percent of the Issued Share Capital of the Company 12 Authorise 233,210,664 Ordinary Shares for For For Mgmt Market Purchase 06/14/04 - A CNOOC LTD Y1662W117 06/07/04 370,500 1 Accept Financial Statements and Statutory For For Mgmt Reports 2a Reelect Shouwei Zhou as Executive Director For For Mgmt 2b Reelect Kenneth S. Courtis as Independent For For Mgmt Non-Executive Director 2c Reelect Erwin Schurtenberger as Independent For For Mgmt Non-Executive Director 2d Reelect Evert Henkes as Independent For For Mgmt Non-Executive Director 3 Reappoint Ernst & Young as Auditors and For For Mgmt Authorize Board to Fix Their Remuneration 4 Approve Repurchase of Up to 10 Percent of For For Mgmt Issued Capital 5 Approve Issuance of Equity or Equity-Linked For Against Mgmt Securities without Preemptive Rights 6 Authorize Reissuance of Repurchased Shares For For Mgmt SPECIAL BUSINESS 1 Amend Articles Re: Voting at General For For Mgmt Meetings, Nomination and Removal of Directors, Material Interest of Directors in Contracts Entered into by the Company 06/23/04 - A HONDA MOTOR CO. LTD. J22302111 03/31/04 4,800 1 Approve Allocation of Income, Including the For For Mgmt Following Dividends: Interim JY 19, Final JY 23, Special JY 0 2 Amend Articles to: Authorize Share For For Mgmt Repurchases at Board's Discretion 3 Elect Directors For For Mgmt 4.1 Appoint Internal Statutory Auditor For For Mgmt 4.2 Appoint Internal Statutory Auditor For For Mgmt 4.3 Appoint Internal Statutory Auditor For For Mgmt 5 Approve Adjustment to Aggregate For For Mgmt Compensation Ceiling for Directors 6 Approve Payment of Annual Bonuses For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 64 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ to Directors and Statutory Auditors 7 Approve Retirement Bonuses for Directors For For Mgmt and Statutory Auditor 06/23/04 - A/S SANOFI-SYNTHELABO (FORMERLY SANOFI) F5548N101 None 3,765 ORDINARY BUSINESS 1 Approve Financial Statements and Statutory For ** Mgmt Reports 2 Accept Consolidated Financial Statements For ** Mgmt and Statutory Reports 3 Approve Allocation of Income and Dividends For ** Mgmt of EUR 1.53 per Share 4 Approve Special Auditors' Report Regarding For ** Mgmt Related-Party Transactions 5 Authorize Repurchase of Up to Ten Percent For ** Mgmt of Issued Share Capital 6 Authorize Issuance of Bonds/Debentures in For ** Mgmt the Aggregate Value of EUR 7 Billion SPECIAL BUSINESS 7 Authorize Issuance of Equity or For ** Mgmt Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 750 Million; Set Global Limit for Capital Increase to Result from Issuance Requests in Items 7-10 at EUR 1.25 Billion 8 Authorize Issuance of Equity or For ** Mgmt Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 750 Million 9 Allow Board to Issue Shares in the Event of For ** Mgmt a Public Tender Offer or Share Exchange Offer 10 Authorize Capitalization of Reserves of Up For ** Mgmt to EUR 500 Million for Bonus Issue or Increase in Par Value 11 Approve Capital Increase Reserved for For ** Mgmt Employees Participating in Savings-Related Share Purchase Plan 12 Approve Stock Option Plan Grants For ** Mgmt 13 Approve Reduction in Share Capital via For ** Mgmt Cancellation of Repurchased Shares 14 Authorize Capital Increase of Up to EUR For ** Mgmt 1.429 Billion for Aventis Exchange Offer - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 65 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 15 Change Company Name to Sanofi-Aventis For ** Mgmt 16 Amend Articles of Association to Reduce For ** Mgmt Term of Board Members from Five to Four Years 17 Amend Articles to Reflect 2003 Legal For ** Mgmt Changes Re: Powers of the Chairman 18 Reelect Jean-Francois Dehecq as Director For ** Mgmt (Representing Sanofi-Synthelabo) 19 Reelect Rene Barbier de la Serre as For ** Mgmt Director (Representing Sanofi-Synthelabo) 20 Reelect Robert Castaigne as Director For ** Mgmt (Representing Sanofi-Synthelabo) 21 Reelect Thierry Desmarest as Director For ** Mgmt (Representing Sanofi-Synthelabo) 22 Reelect Lindsay Owen-Jones as Director For ** Mgmt (Representing Sanofi-Synthelabo) 23 Reelect Bruno Weymuller as Director For ** Mgmt (Representing Sanofi-Synthelabo) 24 Confirm Appointment of Lord Douro as For ** Mgmt Director (Representing Sanofi-Synthelabo) 25 Confirm Appointment of Gerard Van Kemmel as For ** Mgmt Director (Representing Sanofi-Synthelabo) 26 Elect Christian Mulliez as Director For ** Mgmt (Representing Sanofi-Synthelabo) 27 Elect Jean-Marc Bruel as Director For ** Mgmt (Representing Aventis) 28 Elect Jurgen Dormann as Director For ** Mgmt (Representing Aventis) 29 Elect Jean-Rene Fourtou as Director For ** Mgmt (Representing Aventis) 30 Elect Serge Kampf as Director (Representing For ** Mgmt Aventis) 31 Elect Igor Landau as Director (Representing For ** Mgmt Aventis) 32 Elect Hubert Markl as Director For ** Mgmt (Representing Aventis) 33 Elect Klaus Pohle as Director (Representing For ** Mgmt Aventis) 34 Elect Hermann Scholl as Director For ** Mgmt (Representing Aventis) 35 Confirm End of Term of Permanent For ** Mgmt Representative of Elf Aquitaine, L'Oreal, Pierre Castres Saint-Martin, - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 66 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Pierre-Gilles de Gennes, and Herve Guerin as Directors 36 Approve Remuneration of Directors in the For ** Mgmt Aggregate Amount of Up to EUR 1 Million 37 Authorize Filing of Required For ** Mgmt Documents/Other Formalities ** NOT VOTED PER CLIENT INSTRUCTION. 06/24/04 - A KDDI CORPORATION (FRM. DDI CORP.) J31843105 03/31/04 33 1 Approve Allocation of Income, Including the For For Mgmt Following Dividends: Interim JY 1200, Final JY 2400, Special JY 0 2 Amend Articles to: Abolish Retirement Bonus For Against Mgmt System - Authorize Share Repurchases at Board's Discretion 3 Approve Executive Stock Option Plan For For Mgmt 4 Amend Stock Option Plans Approved at 2002 For For Mgmt and 2003 AGMs 5.1 Appoint Internal Statutory Auditor For For Mgmt 5.2 Appoint Internal Statutory Auditor For For Mgmt 5.3 Appoint Internal Statutory Auditor For Against Mgmt 5.4 Appoint Internal Statutory Auditor For Against Mgmt 6 Approve Retirement Bonuses for Statutory For For Mgmt Auditors 7 Approve Special Payments to Directors and For For Mgmt Statutory Auditor in Connection with the Abolition of Retirement Bonus System 06/25/04 - A SEIKO EPSON CORP. J7030F105 03/31/04 5,100 1 Approve Allocation of Income, Including the For For Mgmt Following Dividends: Interim JY 9, Final JY 9, Special JY 0 2 Approve Bonus Payments to Directors and For For Mgmt Statutory Auditors 3 Approve Transfer of Company's LCD Display For For Mgmt Operations to Joint-Venture with Sanyo Electric 4 Amend Articles to: Authorize Share For Against Mgmt Repurchases at Board's Discretion - Limit Directors' Legal Liability 5 Elect Directors For For Mgmt 6.1 Appoint Internal Statutory Auditor For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 67 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 6.2 Appoint Internal Statutory Auditor For Against Mgmt 6.3 Appoint Internal Statutory Auditor For For Mgmt 6.4 Appoint Internal Statutory Auditor For For Mgmt 7 Approve Retirement Bonuses for Directors For Against Mgmt and Statutory Auditors 06/25/04 - A YAMAHA CORP. J95732103 03/31/04 9,800 1 Approve Allocation of Income, Including the For For Mgmt Following Dividends: Interim JY 5, Final JY 10, Special JY 0 2 Amend Articles to: Authorize Share For For Mgmt Repurchases at Board's Discretion 3 Elect Directors For For Mgmt 4 Appoint Internal Statutory Auditor For For Mgmt 5 Approve Retirement Bonus for Director For For Mgmt 06/29/04 - A CITIZEN WATCH CO. LTD. J07938111 03/31/04 22,000 1 Approve Allocation of Income, Including the For For Mgmt Following Dividends: Interim JY 4.5, Final JY 5.5, Special JY 0 2 Amend Articles to: Authorize Share For For Mgmt Repurchases at Board's Discretion - Limit Liability of Directors and Statutory Auditors - Authorize Appointment of Alternate Statutory Auditors 3 Approve Executive Stock Option Plan For For Mgmt 4 Elect Directors For For Mgmt 5.1 Appoint Internal Statutory Auditor For Against Mgmt 5.2 Appoint Internal Statutory Auditor For For Mgmt 5.3 Appoint Internal Statutory Auditor For Against Mgmt 6 Appoint Alternate Internal Statutory Auditor For For Mgmt 7 Approve Retirement Bonuses for Directors For For Mgmt 06/29/04 - A MURATA MANUFACTURING CO. LTD. J46840104 03/31/04 3,100 1 Approve Allocation of Income, Including the For For Mgmt Following Dividends: Interim JY 25, Final JY 25, Special JY 0 2 Amend Articles to: Decrease For Against Mgmt Authorized Capital to Reflect Share Repurchase from 600 Million to 590 Million Shares - Authorize Share - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 68 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF MFS INTERNATIONAL LARGE-CAP FUND Mtg Company/Ticker Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Repurchases at Board's Discretion 3 Elect Directors For For Mgmt 4.1 Appoint Internal Statutory Auditor For For Mgmt 4.2 Appoint Internal Statutory Auditor For For Mgmt 5 Approve Special Payments to Continuing For Against Mgmt Directors and Statutory Auditors in Connection with the Abolition of Retirement Bonus System and Approve Retirement Bonus to Statutory Auditor 6 Approve Executive Stock Option Plan For For Mgmt 06/29/04 - A TOKYO GAS CO. LTD. J87000105 03/31/04 48,640 1 Approve Allocation of Income, Including the For For Mgmt Following Dividends: Interim JY 3, Final JY 4, Special JY 0 2 Amend Articles to: Allow Appointment of For For Mgmt Alternate Statutory Auditors - Authorize Share Repurchases at Board's Discretion 3 Authorize Share Repurchase Program For For Mgmt 4 Elect Directors For For Mgmt 5 Appoint Internal Statutory Auditor For For Mgmt 6 Approve Retirement Bonuses for Directors For Against Mgmt and Statutory Auditor - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 69 A - Annual S - Special VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PIMCO INFLATION MANAGED FUND The registrant did not hold any portfolio securities with respect to which the registrant was entitled to vote during the period from July 1, 2003 through June 30, 2004. VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PIMCO MANAGED BOND FUND Proposal by Voting Vote Cast For Issuer or Result: For, or Against Company Notification Mtg Security Vote Against, Management or Date Date Security Ballot Issues Holder Cast Abstain Abstain Washington Mutual 07/11/03 07/18/03 929227TS5 Consent to Amend Pooling Issuer Y For For And Service Agreement QWEST 11/21/03 N/A 74913EAH3 Consent to the amendments Issuer Y Abstain Abstain in the Indenture VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PACIFIC LIFE MONEY MARKET FUND The registrant did not hold any portfolio securities with respect to which the registrant was entitled to vote during the period from July 1, 2003 through June 30, 2004. VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Dell Inc. DELL 247025109 7/18/03 1.1 Elect Director Michael A. Miles M For Withhold Dell Inc. DELL 247025109 7/18/03 1.2 Elect Director Alex J. Mandl M For Withhold Dell Inc. DELL 247025109 7/18/03 1.3 Elect Director Morton L. Topfer M For Withhold Dell Inc. DELL 247025109 7/18/03 2 Declassify the Board of Directors M For For Dell Inc. DELL 247025109 7/18/03 3 Change Company Name M For For Dell Inc. DELL 247025109 7/18/03 4 Approve Executive Incentive Bonus M For For Plan BEA Systems, Inc. BEAS 073325102 7/11/03 1.1 Elect Director William T. Coleman III M For For BEA Systems, Inc. BEAS 073325102 7/11/03 1.2 Elect Director Dale Crandall M For For BEA Systems, Inc. BEAS 073325102 7/11/03 1.3 Elect Director William H. Janeway M For For BEA Systems, Inc. BEAS 073325102 7/11/03 2 Approve Executive Incentive M For For Bonus Plan BEA Systems, Inc. BEAS 073325102 7/11/03 3 Ratify Auditors M For For Steris Corp. STE 859152100 7/25/03 1.1 Elect Director Stephen R. Hardis M For For Steris Corp. STE 859152100 7/25/03 1.2 Elect Director Raymond A. Lancaster M For For Steris Corp. STE 859152100 7/25/03 1.3 Elect Director J.B. Richey M For For Steris Corp. STE 859152100 7/25/03 1.4 Elect Director Les C. Vinney M For For Steris Corp. STE 859152100 7/25/03 2 Declassify the Board of Directors S Against For H&R Block, Inc. HRB 093671105 9/10/03 1.1 Elect Director G. Kenneth Baum M For For H&R Block, Inc. HRB 093671105 9/10/03 1.2 Elect Director Henry F. Frigon M For For H&R Block, Inc. HRB 093671105 9/10/03 1.3 Elect Director Roger W. Hale M For For H&R Block, Inc. HRB 093671105 9/10/03 2 Amend Omnibus Stock Plan M For For H&R Block, Inc. HRB 093671105 9/10/03 3 Ratify Auditors M For For Medtronic, Inc. MDT 585055106 8/28/03 1.1 Elect Director Richard H. Anderson M For Withhold Medtronic, Inc. MDT 585055106 8/28/03 1.2 Elect Director Michael R. M For Withhold Bonsignore Medtronic, Inc. MDT 585055106 8/28/03 1.3 Elect Director Gordon M. Sprenger M For Withhold Medtronic, Inc. MDT 585055106 8/28/03 2 Ratify Auditors M For For Medtronic, Inc. MDT 585055106 8/28/03 3 Approve Omnibus Stock Plan M For For Medtronic, Inc. MDT 585055106 8/28/03 4 Approve Executive Incentive M For For Bonus Plan Forest Laboratories, Inc. FRX 345838106 8/11/03 1.1 Elect Director Howard Solomon M For Withhold Forest Laboratories, Inc. FRX 345838106 8/11/03 1.2 Elect Director William J. M For Withhold Candee, III Forest Laboratories, Inc. FRX 345838106 8/11/03 1.3 Elect Director George S. Cohan M For Withhold Forest Laboratories, Inc. FRX 345838106 8/11/03 1.4 Elect Director Dan L. Goldwasser M For Withhold Forest Laboratories, Inc. FRX 345838106 8/11/03 1.5 Elect Director Lester B. M For Withhold Salans, M.D. Forest Laboratories, Inc. FRX 345838106 8/11/03 1.6 Elect Director Kenneth E. Goodman M For Withhold Forest Laboratories, Inc. FRX 345838106 8/11/03 1.7 Elect Director Phillip M. Satow M For Withhold Forest Laboratories, Inc. FRX 345838106 8/11/03 2 Increase Authorized Common Stock M For For Forest Laboratories, Inc. FRX 345838106 8/11/03 3 Ratify Auditors M For For Computer Associates CA 204912109 8/27/03 1.1 Elect Director Russell M. Artzt M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.2 Elect Director Kenneth Cron M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.3 Elect Director Alfonse M. D'Amato M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.4 Elect Director Gary J. Fernandes M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.5 Elect Director Sanjay Kumar M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.6 Elect Director Robert E. La Blanc M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.7 Elect Director Jay W. Lorsch M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.8 Elect Director Lewis S. Ranieri M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.9 Elect Director Walter P. Schuetze M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.10 Elect Director Alex Serge Vieux M For For International, Inc. Computer Associates CA 204912109 8/27/03 2 Approve Non-Employee Director M For For International, Inc. Omnibus Stock Plan Computer Associates CA 204912109 8/27/03 3 Ratify Auditors M For For International, Inc. GTECH Holdings Corp. GTK 400518106 8/4/03 1.1 Elect Director Burnett W. Donoho M For For GTECH Holdings Corp. GTK 400518106 8/4/03 1.2 Elect Director James F. McCann M For For GTECH Holdings Corp. GTK 400518106 8/4/03 1.3 Elect Director W. Bruce Turner M For For GTECH Holdings Corp. GTK 400518106 8/4/03 2 Approve Executive Incentive M For For Bonus Plan GTECH Holdings Corp. GTK 400518106 8/4/03 3 Ratify Auditors M For For QLogic Corp. QLGC 747277101 8/26/03 1.1 Elect Director H.K. Desai M For For QLogic Corp. QLGC 747277101 8/26/03 1.2 Elect Director Larry R. Carter M For For QLogic Corp. QLGC 747277101 8/26/03 1.3 Elect Director James R. Fiebiger M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ QLogic Corp. QLGC 747277101 8/26/03 1.4 Elect Director Balakrishnan S. M For For Iyer QLogic Corp. QLGC 747277101 8/26/03 1.5 Elect Director Carol L. Miltner M For For QLogic Corp. QLGC 747277101 8/26/03 1.6 Elect Director George D. Wells M For For QLogic Corp. QLGC 747277101 8/26/03 2 Amend Omnibus Stock Plan M For Against QLogic Corp. QLGC 747277101 8/26/03 3 Ratify Auditors M For For Symantec Corp. SYMC 871503108 8/21/03 1.1 Elect Director Tania Amochaev M For For Symantec Corp. SYMC 871503108 8/21/03 1.2 Elect Director William Coleman M For For Symantec Corp. SYMC 871503108 8/21/03 1.3 Elect Director Dr. Per-Kristian M For For Halvorsen Symantec Corp. SYMC 871503108 8/21/03 1.4 Elect Director David Mahoney M For For Symantec Corp. SYMC 871503108 8/21/03 1.5 Elect Director Robert S. Miller M For For Symantec Corp. SYMC 871503108 8/21/03 1.6 Elect Director Bill Owens M For For Symantec Corp. SYMC 871503108 8/21/03 1.7 Elect Director George Reyes M For For Symantec Corp. SYMC 871503108 8/21/03 1.8 Elect Director Daniel H. Schulman M For For Symantec Corp. SYMC 871503108 8/21/03 1.9 Elect Director John W. Thompson M For For Symantec Corp. SYMC 871503108 8/21/03 2 Increase Authorized Common Stock M For For Symantec Corp. SYMC 871503108 8/21/03 3 Amend Stock Option Plan M For Against Symantec Corp. SYMC 871503108 8/21/03 4 Approve Executive Incentive M For For Bonus Plan Symantec Corp. SYMC 871503108 8/21/03 5 Ratify Auditors M For For Paychex, Inc. PAYX 704326107 10/2/03 1.1 Elect Director B. Thomas Golisano M For Withhold Paychex, Inc. PAYX 704326107 10/2/03 1.2 Elect Director Betsy S. Atkins M For Withhold Paychex, Inc. PAYX 704326107 10/2/03 1.3 Elect Director G. Thomas Clark M For Withhold Paychex, Inc. PAYX 704326107 10/2/03 1.4 Elect Director David J. S. M For Withhold Flaschen Paychex, Inc. PAYX 704326107 10/2/03 1.5 Elect Director Phillip Horsley M For Withhold Paychex, Inc. PAYX 704326107 10/2/03 1.6 Elect Director Grant M. Inman M For Withhold Paychex, Inc. PAYX 704326107 10/2/03 1.7 Elect Director J. Robert Sebo M For Withhold Paychex, Inc. PAYX 704326107 10/2/03 1.8 Elect Director Joseph M. Tucci M For Withhold Oracle Corp. ORCL 68389X105 10/13/03 1.1 Elect Director Lawrence J. Ellison M For For Oracle Corp. ORCL 68389X105 10/13/03 1.2 Elect Director Donald L. Lucas M For For Oracle Corp. ORCL 68389X105 10/13/03 1.3 Elect Director Michael J. Boskin M For For Oracle Corp. ORCL 68389X105 10/13/03 1.4 Elect Director Jeffrey O. Henley M For For Oracle Corp. ORCL 68389X105 10/13/03 1.5 Elect Director Jack F. Kemp M For For Oracle Corp. ORCL 68389X105 10/13/03 1.6 Elect Director Jeffrey Berg M For For Oracle Corp. ORCL 68389X105 10/13/03 1.7 Elect Director Safra Catz M For For Oracle Corp. ORCL 68389X105 10/13/03 1.8 Elect Director Hector M For For Garcia-Molina Oracle Corp. ORCL 68389X105 10/13/03 1.9 Elect Director Joseph A. Grundfest M For For Oracle Corp. ORCL 68389X105 10/13/03 1.10 Elect Director H. Raymond Bingham M For For Oracle Corp. ORCL 68389X105 10/13/03 2 Approve Executive Incentive M For For Bonus Plan Oracle Corp. ORCL 68389X105 10/13/03 3 Ratify Auditors M For For Oracle Corp. ORCL 68389X105 10/13/03 4 Amend Non-Employee Director M For For Omnibus Stock Plan Oracle Corp. ORCL 68389X105 10/13/03 5 Implement China Principles S Against Against Cisco Systems, Inc. CSCO 17275R102 11/11/03 1.1 Elect Director Carol A. Bartz M For For Cisco Systems, Inc. CSCO 17275R102 11/11/03 1.2 Elect Director Larry R. Carter M For For Cisco Systems, Inc. CSCO 17275R102 11/11/03 1.3 Elect Director John T. Chambers M For For Cisco Systems, Inc. CSCO 17275R102 11/11/03 1.4 Elect Director Dr. James F. M For For Gibbons Cisco Systems, Inc. CSCO 17275R102 11/11/03 1.5 Elect Director Dr. John L. M For For Hennessy Cisco Systems, Inc. CSCO 17275R102 11/11/03 1.6 Elect Director Roderick C. McGeary M For For Cisco Systems, Inc. CSCO 17275R102 11/11/03 1.7 Elect Director James C. Morgan M For For Cisco Systems, Inc. CSCO 17275R102 11/11/03 1.8 Elect Director John P. Morgridge M For For Cisco Systems, Inc. CSCO 17275R102 11/11/03 1.9 Elect Director Donald T. Valentine M For For Cisco Systems, Inc. CSCO 17275R102 11/11/03 1.10 Elect Director Steven M. West M For For Cisco Systems, Inc. CSCO 17275R102 11/11/03 1.11 Elect Director Jerry Yang M For For Cisco Systems, Inc. CSCO 17275R102 11/11/03 2 Amend Employee Stock Purchase Plan M For For Cisco Systems, Inc. CSCO 17275R102 11/11/03 3 Ratify Auditors M For For Cisco Systems, Inc. CSCO 17275R102 11/11/03 4 Report on Company Products Used S Against Against by the Government to Monitor the Internet Cisco Systems, Inc. CSCO 17275R102 11/11/03 5 Report on Pay Disparity S Against Against The Procter & Gamble PG 742718109 10/14/03 1.1 Elect Director Norman R. Augustine M For For Company The Procter & Gamble PG 742718109 10/14/03 1.2 Elect Director A.G. Lafley M For For Company Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ The Procter & Gamble PG 742718109 10/14/03 1.3 Elect Director Johnathan A. Rodgers M For For Company The Procter & Gamble PG 742718109 10/14/03 1.4 Elect Director John F. Smith, Jr. M For For Company The Procter & Gamble PG 742718109 10/14/03 1.5 Elect Director Margaret C. Whitman M For For Company The Procter & Gamble PG 742718109 10/14/03 2 Ratify Auditors M For For Company The Procter & Gamble PG 742718109 10/14/03 3 Approve Non-Employee Director M For For Company Omnibus Stock Plan The Procter & Gamble PG 742718109 10/14/03 4 Declassify the Board of Directors S Against For Company The Procter & Gamble PG 742718109 10/14/03 5 Label Genetically Engineered Foods S Against Against Company Fidelity National FNF 316326107 9/29/03 1 Increase Authorized Common Stock M For For Financial, Inc. Fidelity National FNF 316326107 9/29/03 2.1 Elect Director Terry N. M For Withhold Financial, Inc. Christensen Fidelity National FNF 316326107 9/29/03 2.2 Elect Director John F. M For Withhold Financial, Inc. Farrell, Jr. Fidelity National FNF 316326107 9/29/03 2.3 Elect Director Philip G. Heasley M For Withhold Financial, Inc. Fidelity National FNF 316326107 9/29/03 2.4 Elect Director Daniel D. (Ron) M For Withhold Financial, Inc. Lane Fidelity National FNF 316326107 9/29/03 2.5 Elect Director J. Thomas Talbot M For Withhold Financial, Inc. Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.1 Elect Director Bruce L. Downey M For Withhold Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.2 Elect Director Paul M. Bisaro M For Withhold Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.3 Elect Director Carole S. M For Withhold Ben-Maimon Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.4 Elect Director George P. Stephan M For Withhold Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.5 Elect Director Jack M. Kay M For Withhold Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.6 Elect Director Harold N. Chefitz M For Withhold Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.7 Elect Director Richard R. M For Withhold Frankovic Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.8 Elect Director Peter R. Seaver M For Withhold Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.9 Elect Director James S. M For Withhold Gilmore, III Barr Pharmaceuticals Inc BRL 068306109 10/23/03 2 Change State of Incorporation M For For from New York to Delaware Barr Pharmaceuticals Inc BRL 068306109 10/23/03 3 Increase Authorized Common Stock M For For KLA-Tencor Corp. KLAC 482480100 11/5/03 1.a Elect Director H. Raymond Bingham M For For KLA-Tencor Corp. KLAC 482480100 11/5/03 1.b Elect Director Robert T. Bond M For For KLA-Tencor Corp. KLAC 482480100 11/5/03 1.c Elect Director Richard J. M For For Elkus, Jr. KLA-Tencor Corp. KLAC 482480100 11/5/03 1.d Elect Director Michael E. Marks M For For KLA-Tencor Corp. KLAC 482480100 11/5/03 2 Ratify Auditors M For For Automatic Data ADP 053015103 11/11/03 1.1 Elect Director Gregory D. M For For Processing, Inc. Brenneman Automatic Data ADP 053015103 11/11/03 1.2 Elect Director Leslie A. Brun M For For Processing, Inc. Automatic Data ADP 053015103 11/11/03 1.3 Elect Director Gary C. Butler M For For Processing, Inc. Automatic Data ADP 053015103 11/11/03 1.4 Elect Director Joseph A. M For For Processing, Inc. Califano, Jr. Automatic Data ADP 053015103 11/11/03 1.5 Elect Director Leon G. Cooperman M For For Processing, Inc. Automatic Data ADP 053015103 11/11/03 1.6 Elect Director Ann Dibble Jordan M For For Processing, Inc. Automatic Data ADP 053015103 11/11/03 1.7 Elect Director Harvey M. Krueger M For Withhold Processing, Inc. Automatic Data ADP 053015103 11/11/03 1.8 Elect Director Frederic V. Malek M For For Processing, Inc. Automatic Data ADP 053015103 11/11/03 1.9 Elect Director Henry Taub M For For Processing, Inc. Automatic Data ADP 053015103 11/11/03 1.10 Elect Director Arthur F. Weinbach M For For Processing, Inc. Automatic Data ADP 053015103 11/11/03 1.11 Elect Director Josh S. Weston M For For Processing, Inc. Automatic Data ADP 053015103 11/11/03 2 Amend Stock Option Plan M For Against Processing, Inc. Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Automatic Data ADP 053015103 11/11/03 3 Amend Employee Stock Purchase Plan M For For Processing, Inc. Automatic Data ADP 053015103 11/11/03 4 Approve Outside Director Stock M For For Processing, Inc. Awards in Lieu of Cash Automatic Data ADP 053015103 11/11/03 5 Ratify Auditors M For For Processing, Inc. Boston Scientific Corp. BSX 101137107 10/6/03 1 Increase Authorized Common Stock M For For Affiliated Computer ACS 008190100 10/30/03 1.1 Elect Director Darwin Deason M For For Services, Inc. Affiliated Computer ACS 008190100 10/30/03 1.2 Elect Director Jeffrey A. Rich M For For Services, Inc. Affiliated Computer ACS 008190100 10/30/03 1.3 Elect Director Mark A. King M For For Services, Inc. Affiliated Computer ACS 008190100 10/30/03 1.4 Elect Director Joseph P. O'Neill M For For Services, Inc. Affiliated Computer ACS 008190100 10/30/03 1.5 Elect Director Frank A. Rossi M For For Services, Inc. Affiliated Computer ACS 008190100 10/30/03 1.6 Elect Director J. Livingston M For For Services, Inc. Kosberg Affiliated Computer ACS 008190100 10/30/03 1.7 Elect Director Dennis McCuistion M For For Services, Inc. Affiliated Computer ACS 008190100 10/30/03 2 Approve Executive Incentive M For For Services, Inc. Bonus Plan Affiliated Computer ACS 008190100 10/30/03 3 Ratify Auditors M For For Services, Inc. Linear Technology Corp. LLTC 535678106 11/5/03 1.1 Elect Director Robert H. M For Withhold Swanson, Jr. Linear Technology Corp. LLTC 535678106 11/5/03 1.2 Elect Director David S. Lee M For Withhold Linear Technology Corp. LLTC 535678106 11/5/03 1.3 Elect Director Leo T. McCarthy M For Withhold Linear Technology Corp. LLTC 535678106 11/5/03 1.4 Elect Director Richard M. Moley M For Withhold Linear Technology Corp. LLTC 535678106 11/5/03 1.5 Elect Director Thomas S. Volpe M For Withhold Linear Technology Corp. LLTC 535678106 11/5/03 2 Ratify Auditors M For For Cardinal Health, Inc. CAH 14149Y108 11/5/03 1.1 Elect Director Dave Bing M For For Cardinal Health, Inc. CAH 14149Y108 11/5/03 1.2 Elect Director John F. Finn M For For Cardinal Health, Inc. CAH 14149Y108 11/5/03 1.3 Elect Director John F. Havens M For For Cardinal Health, Inc. CAH 14149Y108 11/5/03 1.4 Elect Director David W. Raisbeck M For For Cardinal Health, Inc. CAH 14149Y108 11/5/03 1.5 Elect Director Robert D. Walter M For For SYSCO Corporation SYY 871829107 11/7/03 1.1 Elect Director Jonathan Golden as M For Withhold Class II Director SYSCO Corporation SYY 871829107 11/7/03 1.2 Elect Director Joseph A. Hafner, M For For Jr. as Class II Director SYSCO Corporation SYY 871829107 11/7/03 1.3 Elect Director Thomas E. Lankford M For For as Class II Director SYSCO Corporation SYY 871829107 11/7/03 1.4 Elect Director Richard J. M For For Schnieders as Class II Director SYSCO Corporation SYY 871829107 11/7/03 1.5 Elect Director John K. M For For Stubblefield, Jr. as Class III Director SYSCO Corporation SYY 871829107 11/7/03 2 Increase Authorized Common Stock M For For SYSCO Corporation SYY 871829107 11/7/03 3 Approve Omnibus Stock Plan M For For SYSCO Corporation SYY 871829107 11/7/03 4 Report on the Impact of S Against Against Genetically Engineered Products CBRL Group, Inc. CBRL 12489V106 11/25/03 1.1 Elect Director James D. Carreker M For Withhold CBRL Group, Inc. CBRL 12489V106 11/25/03 1.2 Elect Director Robert V. Dale M For Withhold CBRL Group, Inc. CBRL 12489V106 11/25/03 1.3 Elect Director Dan W. Evins M For Withhold CBRL Group, Inc. CBRL 12489V106 11/25/03 1.4 Elect Director Robert C. Hilton M For Withhold CBRL Group, Inc. CBRL 12489V106 11/25/03 1.5 Elect Director Charles E. M For Withhold Jones, Jr. CBRL Group, Inc. CBRL 12489V106 11/25/03 1.6 Elect Director B. F. 'Jack' Lowery M For Withhold CBRL Group, Inc. CBRL 12489V106 11/25/03 1.7 Elect Director Gordon L. Miller M For Withhold CBRL Group, Inc. CBRL 12489V106 11/25/03 1.8 Elect Director Martha M. Mitchell M For Withhold CBRL Group, Inc. CBRL 12489V106 11/25/03 1.9 Elect Director Andrea M. Weiss M For Withhold CBRL Group, Inc. CBRL 12489V106 11/25/03 1.10 Elect Director Jimmie D. White M For Withhold CBRL Group, Inc. CBRL 12489V106 11/25/03 1.11 Elect Director Michael A. M For Withhold Woodhouse CBRL Group, Inc. CBRL 12489V106 11/25/03 2 Ratify Auditors M For For Harris Corp. HRS 413875105 10/24/03 1.1 Elect Director Joseph L. Dionne M For For Harris Corp. HRS 413875105 10/24/03 1.2 Elect Director David B. Rickard M For For Harris Corp. HRS 413875105 10/24/03 1.3 Elect Director Gregory T. Swienton M For For Harris Corp. HRS 413875105 10/24/03 2 Ratify Auditors M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Microsoft Corp. MSFT 594918104 11/11/03 1.1 Elect Director William H. M For Withhold Gates, III Microsoft Corp. MSFT 594918104 11/11/03 1.2 Elect Director Steven A. Ballmer M For Withhold Microsoft Corp. MSFT 594918104 11/11/03 1.3 Elect Director James I. Cash, M For Withhold Jr., Ph.D. Microsoft Corp. MSFT 594918104 11/11/03 1.4 Elect Director Raymond V. M For Withhold Gilmartin Microsoft Corp. MSFT 594918104 11/11/03 1.5 Elect Director Ann McLaughlin M For Withhold Korologos Microsoft Corp. MSFT 594918104 11/11/03 1.6 Elect Director David F. Marquardt M For Withhold Microsoft Corp. MSFT 594918104 11/11/03 1.7 Elect Director Charles H. Noski M For Withhold Microsoft Corp. MSFT 594918104 11/11/03 1.8 Elect Director Dr. Helmut Panke M For Withhold Microsoft Corp. MSFT 594918104 11/11/03 1.9 Elect Director Wm. G. Reed, Jr. M For Withhold Microsoft Corp. MSFT 594918104 11/11/03 1.10 Elect Director Jon A. Shirley M For Withhold Microsoft Corp. MSFT 594918104 11/11/03 2 Amend Omnibus Stock Plan M For Against Microsoft Corp. MSFT 594918104 11/11/03 3 Amend Non-Employee Director Stock M For For Option Plan Microsoft Corp. MSFT 594918104 11/11/03 4 Refrain from Giving Charitable S Against Against Contributions AutoZone, Inc. AZO 053332102 12/11/03 1.1 Elect Director Charles M. Elson M For For AutoZone, Inc. AZO 053332102 12/11/03 1.2 Elect Director Marsha J. Evans M For For AutoZone, Inc. AZO 053332102 12/11/03 1.3 Elect Director Earl G. Graves, Jr. M For For AutoZone, Inc. AZO 053332102 12/11/03 1.4 Elect Director N. Gerry House M For For AutoZone, Inc. AZO 053332102 12/11/03 1.5 Elect Director J.R. Hyde, III M For For AutoZone, Inc. AZO 053332102 12/11/03 1.6 Elect Director Edward S. Lampert M For For AutoZone, Inc. AZO 053332102 12/11/03 1.7 Elect Director W. Andrew McKenna M For For AutoZone, Inc. AZO 053332102 12/11/03 1.8 Elect Director Steve Odland M For For AutoZone, Inc. AZO 053332102 12/11/03 1.9 Elect Director James J. Postl M For For AutoZone, Inc. AZO 053332102 12/11/03 2 Ratify Auditors M For For Fox Entertainment FOX 35138T107 11/25/03 1.1 Elect Director K. Rupert M For Withhold Group, Inc. Murdoch, AC Fox Entertainment FOX 35138T107 11/25/03 1.2 Elect Director Peter Chernin M For Withhold Group, Inc. Fox Entertainment FOX 35138T107 11/25/03 1.3 Elect Director David F. DeVoe M For Withhold Group, Inc. Fox Entertainment FOX 35138T107 11/25/03 1.4 Elect Director Arthur M. Siskind M For Withhold Group, Inc. Fox Entertainment FOX 35138T107 11/25/03 1.5 Elect Director Lachlan K. Murdoch M For Withhold Group, Inc. Fox Entertainment FOX 35138T107 11/25/03 1.6 Elect Director Christos M. M For Withhold Group, Inc. Cotsakos Fox Entertainment FOX 35138T107 11/25/03 1.7 Elect Director Thomas W. Jones M For Withhold Group, Inc. Fox Entertainment FOX 35138T107 11/25/03 1.8 Elect Director Peter Powers M For Withhold Group, Inc. Fox Entertainment FOX 35138T107 11/25/03 2 Ratify Auditors M For For Group, Inc. Mercury Interactive Corp. MERQ 589405109 12/10/03 1 Amend Stock Option Plan M For For Mercury Interactive Corp. MERQ 589405109 12/10/03 2 Amend Employee Stock Purchase Plan M For For D.R. Horton, Inc. DHI 23331A109 1/29/04 1.1 Elect Director Donald R. Horton M For For D.R. Horton, Inc. DHI 23331A109 1/29/04 1.2 Elect Director Bradley S. Anderson M For For D.R. Horton, Inc. DHI 23331A109 1/29/04 1.3 Elect Director Michael R. Buchanan M For For D.R. Horton, Inc. DHI 23331A109 1/29/04 1.4 Elect Director Richard I. Galland M For For D.R. Horton, Inc. DHI 23331A109 1/29/04 1.5 Elect Director Francine I. Neff M For For D.R. Horton, Inc. DHI 23331A109 1/29/04 1.6 Elect Director Donald J. Tomnitz M For For D.R. Horton, Inc. DHI 23331A109 1/29/04 1.7 Elect Director Bill W. Wheat M For For D.R. Horton, Inc. DHI 23331A109 1/29/04 2 Amend Executive Incentive M For For Bonus Plan D.R. Horton, Inc. DHI 23331A109 1/29/04 3 Other Business M For Against Family Dollar Stores, Inc. FDO 307000109 1/15/04 1.1 Elect Director Howard R. Levine M For For Family Dollar Stores, Inc. FDO 307000109 1/15/04 1.2 Elect Director George R. M For For Mahoney, Jr. Family Dollar Stores, Inc. FDO 307000109 1/15/04 1.3 Elect Director Mark R. Bernstein M For For Family Dollar Stores, Inc. FDO 307000109 1/15/04 1.4 Elect Director Sharon Allred M For For Decker Family Dollar Stores, Inc. FDO 307000109 1/15/04 1.5 Elect Director Edward C. Dolby M For For Family Dollar Stores, Inc. FDO 307000109 1/15/04 1.6 Elect Director Glenn A. Eisenberg M For For Family Dollar Stores, Inc. FDO 307000109 1/15/04 1.7 Elect Director James G. Martin M For For Family Dollar Stores, Inc. FDO 307000109 1/15/04 2 Approve Non-Employee Director M For For Stock Option Plan Family Dollar Stores, Inc. FDO 307000109 1/15/04 3 Ratify Auditors M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Health Management HMA 421933102 2/17/04 1.1 Elect Director William J. Schoen M For For Associates, Inc. Health Management HMA 421933102 2/17/04 1.2 Elect Director Joseph V. Vumbacco M For For Associates, Inc. Health Management HMA 421933102 2/17/04 1.3 Elect Director Kent P. Dauten M For For Associates, Inc. Health Management HMA 421933102 2/17/04 1.4 Elect Director Donald E. Kiernan M For For Associates, Inc. Health Management HMA 421933102 2/17/04 1.5 Elect Director Robert A. Knox M For For Associates, Inc. Health Management HMA 421933102 2/17/04 1.6 Elect Director William E. M For For Associates, Inc. Mayberry, M.D. Health Management HMA 421933102 2/17/04 1.7 Elect Director William C. M For For Associates, Inc. Steere, Jr. Health Management HMA 421933102 2/17/04 1.8 Elect Director Randolph W. M For For Associates, Inc. Westerfield, Ph.D. Varian Medical Systems Inc VAR 92220P105 2/19/04 1.1 Elect Director John Seely Brown M For For Varian Medical Systems Inc VAR 92220P105 2/19/04 1.2 Elect Director Samuel Hellman M For For Varian Medical Systems Inc VAR 92220P105 2/19/04 1.3 Elect Director Terry R. Lautenbach M For For Varian Medical Systems Inc VAR 92220P105 2/19/04 2 Amend Executive Incentive M For For Bonus Plan ACCENTURE LTD BERMUDA ACN G1150G111 2/5/04 1 Appoint Dennis F. Hightower, M For For William L. Kimsey, Robert I. Lipp, and Wulf von Schimmelmann as Directors ACCENTURE LTD BERMUDA ACN G1150G111 2/5/04 2 Approve KPMG LLP as Independent M For For Auditors and Authorize Board to Fix Their Remuneration ACCENTURE LTD BERMUDA ACN G1150G111 2/5/04 3 Transact Other Business M None None (Non-Voting) Fair Isaac Inc. FIC 303250104 2/2/04 1.1 Elect Director A. George Battle M For Withhold Fair Isaac Inc. FIC 303250104 2/2/04 1.2 Elect Director Tony J. M For Withhold Christianson Fair Isaac Inc. FIC 303250104 2/2/04 1.3 Elect Director Thomas G. M For Withhold Grudnowski Fair Isaac Inc. FIC 303250104 2/2/04 1.4 Elect Director Alex W. Hart M For Withhold Fair Isaac Inc. FIC 303250104 2/2/04 1.5 Elect Director Philip G. Heasley M For Withhold Fair Isaac Inc. FIC 303250104 2/2/04 1.6 Elect Director Guy R. Henshaw M For Withhold Fair Isaac Inc. FIC 303250104 2/2/04 1.7 Elect Director David S.P. Hopkins M For Withhold Fair Isaac Inc. FIC 303250104 2/2/04 1.8 Elect Director Margaret L. Taylor M For Withhold Fair Isaac Inc. FIC 303250104 2/2/04 2 Increase Authorized Common Stock M For For Fair Isaac Inc. FIC 303250104 2/2/04 3 Ratify Auditors M For For Avaya Inc AV 053499109 2/26/04 1.1 Elect Director Joseph P. Landy M For Withhold Avaya Inc AV 053499109 2/26/04 1.2 Elect Director Mark Leslie M For Withhold Avaya Inc AV 053499109 2/26/04 1.3 Elect Director Donald K. Peterson M For Withhold Avaya Inc AV 053499109 2/26/04 1.4 Elect Director Anthony P. M For Withhold Terracciano Avaya Inc AV 053499109 2/26/04 2 Approve Omnibus Stock Plan M For Against Avaya Inc AV 053499109 2/26/04 3 Limit Awards to Executives S Against Against QUALCOMM Inc. QCOM 747525103 3/2/04 1.1 Elect Director Adelia A. Coffman M For Withhold QUALCOMM Inc. QCOM 747525103 3/2/04 1.2 Elect Director Raymond V. M For Withhold Dittamore QUALCOMM Inc. QCOM 747525103 3/2/04 1.3 Elect Director Irwin Mark Jacobs M For Withhold QUALCOMM Inc. QCOM 747525103 3/2/04 1.4 Elect Director Richard Sulpizio M For Withhold QUALCOMM Inc. QCOM 747525103 3/2/04 2 Amend Stock Option Plan M For Against QUALCOMM Inc. QCOM 747525103 3/2/04 3 Ratify Auditors M For For QUALCOMM Inc. QCOM 747525103 3/2/04 4 Declassify the Board of Directors S Against For Mid Atlantic Medical NULL 59523C107 2/10/04 1 Approve Merger Agreement M For For Services, Inc. Mid Atlantic Medical NULL 59523C107 2/10/04 2 Adjourn Meeting M For For Services, Inc. AmerisourceBergen Corp ABC 03073E105 3/5/04 1.1 Elect Director Edward E. M For For Hagenlocker AmerisourceBergen Corp ABC 03073E105 3/5/04 1.1 Elect Director Edward E. M For For Hagenlocker AmerisourceBergen Corp ABC 03073E105 3/5/04 1.2 Elect Director Kurt J. Hilzinger M For For AmerisourceBergen Corp ABC 03073E105 3/5/04 1.2 Elect Director Kurt J. Hilzinger M For For The Walt Disney Company DIS 254687106 3/3/04 1.1 Elect Director John E. Bryson M For For The Walt Disney Company DIS 254687106 3/3/04 1.2 Elect Director John S. Chen M For For The Walt Disney Company DIS 254687106 3/3/04 1.3 Elect Director Michael D. Eisner M For Withhold The Walt Disney Company DIS 254687106 3/3/04 1.4 Elect Director Judith L. Estrin M For For The Walt Disney Company DIS 254687106 3/3/04 1.5 Elect Director Robert A. Iger M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ The Walt Disney Company DIS 254687106 3/3/04 1.6 Elect Director Aylwin B. Lewis M For For The Walt Disney Company DIS 254687106 3/3/04 1.7 Elect Director Monica C. Lozano M For For The Walt Disney Company DIS 254687106 3/3/04 1.8 Elect Director Robert W. M For For Matschullat The Walt Disney Company DIS 254687106 3/3/04 1.9 Elect Director George J. Mitchell M For For The Walt Disney Company DIS 254687106 3/3/04 1.10 Elect Director Leo J. M For For O'Donovan, S.J. The Walt Disney Company DIS 254687106 3/3/04 1.11 Elect Director Gary L. Wilson M For For The Walt Disney Company DIS 254687106 3/3/04 2 Ratify Auditors M For For The Walt Disney Company DIS 254687106 3/3/04 3 China Principles S Against Against The Walt Disney Company DIS 254687106 3/3/04 4 Report on Supplier Labor S Against Against Standards in China The Walt Disney Company DIS 254687106 3/3/04 5 Report on Amusement Park Safety S Against Against Analog Devices, Inc. ADI 032654105 3/9/04 1.1 Elect Director Jerald G. Fishman M For For Analog Devices, Inc. ADI 032654105 3/9/04 1.2 Elect Director F. Grant Saviers M For For Analog Devices, Inc. ADI 032654105 3/9/04 2 Increase Authorized Common Stock M For For Analog Devices, Inc. ADI 032654105 3/9/04 3 Ratify Auditors M For For Nokia Corp. NULL 654902204 3/25/04 1 APPROVAL OF THE INCOME STATEMENTS M For For AND THE BALANCE SHEETS. Nokia Corp. NULL 654902204 3/25/04 2 APPROVAL OF A DIVIDEND OF EUR M For For 0.30 PER SHARE. Nokia Corp. NULL 654902204 3/25/04 3 APPROVAL OF THE DISCHARGE OF THE M For For CHAIRMAN, THE MEMBERS OF THE BOARD OF DIRECTORS AND THE PRESIDENT FROM LIABILITY. Nokia Corp. NULL 654902204 3/25/04 4.1 Elect Director Paul J. Collins M For Against Nokia Corp. NULL 654902204 3/25/04 4.2 Elect Director Georg Ehrnrooth M For Against Nokia Corp. NULL 654902204 3/25/04 4.3 Elect Director Bengt Holmstrom M For Against Nokia Corp. NULL 654902204 3/25/04 4.4 Elect Director Per Karlsson M For Against Nokia Corp. NULL 654902204 3/25/04 4.5 Elect Director Jorma Ollila M For Against Nokia Corp. NULL 654902204 3/25/04 4.6 Elect Director Marjorie Scardino M For Against Nokia Corp. NULL 654902204 3/25/04 4.7 Elect Director Vesa Vainio M For Against Nokia Corp. NULL 654902204 3/25/04 4.8 Elect Director Arne Wessberg M For Against Nokia Corp. NULL 654902204 3/25/04 5 Ratify Auditors M For For Nokia Corp. NULL 654902204 3/25/04 6 APPROVAL OF THE PROPOSAL OF THE M For For BOARD TO REDUCE THE SHARE CAPITAL THROUGH CANCELLATION OF NOKIA SHARES HELD BY THE COMPANY Nokia Corp. NULL 654902204 3/25/04 7 APPROVAL OF THE AUTHORIZATION TO M For For THE BOARD TO INCREASE THE SHARE CAPITAL OF THE COMPANY. M For For Nokia Corp. NULL 654902204 3/25/04 8 APPROVAL OF THE AUTHORIZATION TO THE BOARD TO REPURCHASE NOKIA SHARES. Nokia Corp. NULL 654902204 3/25/04 9 APPROVAL OF THE AUTHORIZATION TO M For For THE BOARD TO DISPOSE NOKIA SHARES HELD BY THE COMPANY. Nokia Corp. NULL 654902204 3/25/04 10 APPROVAL OF THE PROPOSAL OF THE M For For BOARD TO INCREASE THE CAPITAL OF THE FOUNDATION OF NOKIA CORPORATION. Nokia Corp. NULL 654902204 3/25/04 11 MARK THE FOR BOX IF YOU WISH TO M None Against INSTRUCT THE DEPOSITARY TO GIVE A PROXY TO ANY ONE OF MARIANNA UOTINEN-TARKOMA, ESA KAUNISTOLA, BOTH LEGAL COUNSELS OF NOKIA CORPORATION, TO AUTHORIZE ANY OF THEM (WITH FULL POWER OF SUBSTITUTION) TO VOTE, IN THEIR DISCR Travelers Property NULL 89420G109 3/19/04 1 Approve Merger Agreement M For For Casualty Corp. Caremark Rx, Inc. CMX 141705103 3/22/04 1 Increase Authorized Common Stock M For For Caremark Rx, Inc. CMX 141705103 3/22/04 2 Approve Issuance of Stock in M For For Connection with Merger Agreement Caremark Rx, Inc. CMX 141705103 3/22/04 3 Increase Authorized Preferred M For Against Stock Caremark Rx, Inc. CMX 141705103 3/22/04 4 Approve Omnibus Stock Plan M For For Caremark Rx, Inc. CMX 141705103 3/22/04 5 Allow Postponement or Adjournment M For For of Special Meeting Starbucks Corp. SBUX 855244109 3/30/04 1.1 Elect Director William W. M For For (Bill) Bradley Starbucks Corp. SBUX 855244109 3/30/04 1.2 Elect Director Gregory B. Maffei M For For Starbucks Corp. SBUX 855244109 3/30/04 1.3 Elect Director Orin C. Smith M For For Starbucks Corp. SBUX 855244109 3/30/04 1.4 Elect Director Olden Lee M For For Starbucks Corp. SBUX 855244109 3/30/04 2 Ratify Auditors M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Applied Materials, Inc. AMAT 038222105 3/24/04 1.1 Elect Director Michael H. Armacost M For For Applied Materials, Inc. AMAT 038222105 3/24/04 1.2 Elect Director Deborah A. Coleman M For For Applied Materials, Inc. AMAT 038222105 3/24/04 1.3 Elect Director Herbert M. Dwight, Jr. M For For Applied Materials, Inc. AMAT 038222105 3/24/04 1.4 Elect Director Philip V. Gerdine M For For Applied Materials, Inc. AMAT 038222105 3/24/04 1.5 Elect Director Paul R. Low M For For Applied Materials, Inc. AMAT 038222105 3/24/04 1.6 Elect Director Dan Maydan M For For Applied Materials, Inc. AMAT 038222105 3/24/04 1.7 Elect Director Steven L. Miller M For For Applied Materials, Inc. AMAT 038222105 3/24/04 1.8 Elect Director James C. Morgan M For For Applied Materials, Inc. AMAT 038222105 3/24/04 1.9 Elect Director Gerhard H. Parker M For For Applied Materials, Inc. AMAT 038222105 3/24/04 1.10 Elect Director Michael R. Splinter M For For Applied Materials, Inc. AMAT 038222105 3/24/04 2 Amend Omnibus Stock Plan M For Against Freddie Mac FRE 313400301 3/31/04 1.1 Elect Director Joan E. Donoghue M For For Freddie Mac FRE 313400301 3/31/04 1.2 Elect Director Michelle Engler M For For Freddie Mac FRE 313400301 3/31/04 1.3 Elect Director Richard Karl Goeltz M For For Freddie Mac FRE 313400301 3/31/04 1.4 Elect Director George D. Gould M For For Freddie Mac FRE 313400301 3/31/04 1.5 Elect Director Henry Kaufman M For For Freddie Mac FRE 313400301 3/31/04 1.6 Elect Director John B. Mccoy M For For Freddie Mac FRE 313400301 3/31/04 1.7 Elect Director Shaun F. O'Malley M For For Freddie Mac FRE 313400301 3/31/04 1.8 Elect Director Ronald F. Poe M For For Freddie Mac FRE 313400301 3/31/04 1.9 Elect Director Stephen A. Ross M For For Freddie Mac FRE 313400301 3/31/04 1.10 Elect Director Donald J. Schuenke M For For Freddie Mac FRE 313400301 3/31/04 1.11 Elect Director Christina Seix M For For Freddie Mac FRE 313400301 3/31/04 1.12 Elect Director Richard F. Syron M For For Freddie Mac FRE 313400301 3/31/04 1.13 Elect Director William J. Turner M For For Freddie Mac FRE 313400301 3/31/04 2 Ratify Auditors M For For Fiserv, Inc. FISV 337738108 4/6/04 1.1 Elect Director K.R. Jensen M For For Fiserv, Inc. FISV 337738108 4/6/04 1.2 Elect Director K.M. Robak M For For Fiserv, Inc. FISV 337738108 4/6/04 1.3 Elect Director T.C. Wertheimer M For For Fiserv, Inc. FISV 337738108 4/6/04 2 Ratify Auditors M For For Fiserv, Inc. FISV 337738108 4/6/04 3 Amend Omnibus Stock Plan M For For United Technologies Corp. UTX 913017109 4/14/04 1.1 Elect Director Betsy J. Bernard M For For United Technologies Corp. UTX 913017109 4/14/04 1.2 Elect Director George David M For For United Technologies Corp. UTX 913017109 4/14/04 1.3 Elect Director Jean-Pierre Garnier M For For United Technologies Corp. UTX 913017109 4/14/04 1.4 Elect Director Jamie S. Gorelick M For For United Technologies Corp. UTX 913017109 4/14/04 1.5 Elect Director Charles R. Lee M For For United Technologies Corp. UTX 913017109 4/14/04 1.6 Elect Director Richard D. M For For McCormick United Technologies Corp. UTX 913017109 4/14/04 1.7 Elect Director Harold McGraw III M For For United Technologies Corp. UTX 913017109 4/14/04 1.8 Elect Director Frank P. Popoff M For For United Technologies Corp. UTX 913017109 4/14/04 1.9 Elect Director H. Patrick Swygert M For For United Technologies Corp. UTX 913017109 4/14/04 1.10 Elect Director Andre Villeneuve M For For United Technologies Corp. UTX 913017109 4/14/04 1.11 Elect Director H. A. Wagner M For For United Technologies Corp. UTX 913017109 4/14/04 1.12 Elect Director Christine Todd M For For Whitman United Technologies Corp. UTX 913017109 4/14/04 2 Ratify Auditors M For For United Technologies Corp. UTX 913017109 4/14/04 3 Disclosure of Executive S Against Against Compensation United Technologies Corp. UTX 913017109 4/14/04 4 Develop Ethical Criteria for S Against Against Military Contracts United Technologies Corp. UTX 913017109 4/14/04 5 Performance-Based/Indexed Options S Against Against United Technologies Corp. UTX 913017109 4/14/04 6 Separate Chairman and CEO S Against Against Positions Beckman Coulter, Inc. BEC 075811109 4/1/04 1.1 Elect Director Ronald W. Dollens M For Withhold Beckman Coulter, Inc. BEC 075811109 4/1/04 1.2 Elect Director Charles A. Haggerty M For Withhold Beckman Coulter, Inc. BEC 075811109 4/1/04 1.3 Elect Director William N. M For Withhold Kelley, M.D. Beckman Coulter, Inc. BEC 075811109 4/1/04 2 Approve Omnibus Stock Plan M For Against The Coca-Cola Company KO 191216100 4/21/04 1.1 Elect Director Herbert A. Allen M For For The Coca-Cola Company KO 191216100 4/21/04 1.2 Elect Director Ronald W. Allen M For For The Coca-Cola Company KO 191216100 4/21/04 1.3 Elect Director Cathleen P. Black M For For The Coca-Cola Company KO 191216100 4/21/04 1.4 Elect Director Warren E. Buffett M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ The Coca-Cola Company KO 191216100 4/21/04 1.5 Elect Director Douglas N. Daft M For For The Coca-Cola Company KO 191216100 4/21/04 1.6 Elect Director Barry Diller M For For The Coca-Cola Company KO 191216100 4/21/04 1.7 Elect Director Donald R. Keough M For For The Coca-Cola Company KO 191216100 4/21/04 1.8 Elect Director Susan Bennett King M For For The Coca-Cola Company KO 191216100 4/21/04 1.9 Elect Director Maria Elena M For For Lagomasino The Coca-Cola Company KO 191216100 4/21/04 1.10 Elect Director Donald F. Mchenry M For For The Coca-Cola Company KO 191216100 4/21/04 1.11 Elect Director Robert L. Nardelli M For For The Coca-Cola Company KO 191216100 4/21/04 1.12 Elect Director Sam Nunn M For For The Coca-Cola Company KO 191216100 4/21/04 1.13 Elect Director J. Pedro Reinhard M For For The Coca-Cola Company KO 191216100 4/21/04 1.14 Elect Director James D. M For For Robinson III The Coca-Cola Company KO 191216100 4/21/04 1.15 Elect Director Peter V. Ueberroth M For For The Coca-Cola Company KO 191216100 4/21/04 1.16 Elect Director James B. Williams M For For The Coca-Cola Company KO 191216100 4/21/04 2 Ratify Auditors M For For The Coca-Cola Company KO 191216100 4/21/04 3 Report on Operational Impact of S For For HIV/AIDS Pandemic The Coca-Cola Company KO 191216100 4/21/04 4 Report on Stock Option S Against Against Distribution by Race and Gender The Coca-Cola Company KO 191216100 4/21/04 5 Prohibit Awards to Executives S Against Against The Coca-Cola Company KO 191216100 4/21/04 6 Submit Executive Compensation S Against Against to Vote The Coca-Cola Company KO 191216100 4/21/04 7 Submit Executive Compensation S Against Against to Vote The Coca-Cola Company KO 191216100 4/21/04 8 Implement China Principles S Against Against The Coca-Cola Company KO 191216100 4/21/04 9 Separate Chairman and CEO S Against Against Positions General Electric Co. GE 369604103 4/28/04 1.1 Elect Director James I. Cash, Jr. M For For General Electric Co. GE 369604103 4/28/04 1.2 Elect Director Dennis D. Dammerman M For For General Electric Co. GE 369604103 4/28/04 1.3 Elect Director Ann M. Fudge M For For General Electric Co. GE 369604103 4/28/04 1.4 Elect Director Claudio X. Gonzalez M For For General Electric Co. GE 369604103 4/28/04 1.5 Elect Director Jeffrey R. Immelt M For For General Electric Co. GE 369604103 4/28/04 1.6 Elect Director Andrea Jung M For For General Electric Co. GE 369604103 4/28/04 1.7 Elect Director Alan G. Lafley M For For General Electric Co. GE 369604103 4/28/04 1.8 Elect Director Kenneth G. Langone M For For General Electric Co. GE 369604103 4/28/04 1.9 Elect Director Ralph S. Larsen M For For General Electric Co. GE 369604103 4/28/04 1.10 Elect Director Rochelle B. Lazarus M For For General Electric Co. GE 369604103 4/28/04 1.11 Elect Director Sam Nunn M For For General Electric Co. GE 369604103 4/28/04 1.12 Elect Director Roger S. Penske M For For General Electric Co. GE 369604103 4/28/04 1.13 Elect Director Robert J. Swieringa M For For General Electric Co. GE 369604103 4/28/04 1.14 Elect Director Douglas A. M For For Warner III General Electric Co. GE 369604103 4/28/04 1.15 Elect Director Robert C. Wright M For For General Electric Co. GE 369604103 4/28/04 2 Ratify Auditors M For For General Electric Co. GE 369604103 4/28/04 3 Amend Omnibus Stock Plan M For For General Electric Co. GE 369604103 4/28/04 4 Provide for Cumulative Voting S Against Against General Electric Co. GE 369604103 4/28/04 5 Eliminate Animal Testing S Against Against General Electric Co. GE 369604103 4/28/04 6 Report on Nuclear Fuel Storage S Against Against Risks General Electric Co. GE 369604103 4/28/04 7 Report on PCB Clean-up S Against Against General Electric Co. GE 369604103 4/28/04 8 Report on Foreign Outsourcing S Against Against General Electric Co. GE 369604103 4/28/04 9 Prepare Sustainability Report S Against Against General Electric Co. GE 369604103 4/28/04 10 Limit Composition of Management S Against Against Development and Compensation Committee to Independent Directors S Against Against General Electric Co. GE 369604103 4/28/04 11 Report on Pay Disparity General Electric Co. GE 369604103 4/28/04 12 Limit Awards to Executives S Against Against General Electric Co. GE 369604103 4/28/04 13 Limit Board Service for Other S Against Against Companies General Electric Co. GE 369604103 4/28/04 14 Separate Chairman and CEO S Against Against Positions General Electric Co. GE 369604103 4/28/04 15 Hire Advisor/Maximize S Against Against Shareholder Value General Electric Co. GE 369604103 4/28/04 16 Adopt a Retention Ratio for S Against Against Executives and Directors General Electric Co. GE 369604103 4/28/04 17 Require 70% to 80% Independent S Against Against Board General Electric Co. GE 369604103 4/28/04 18 Report on Political S Against Against Contributions/Activities Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ U.S. Bancorp USB 902973304 4/20/04 1.1 Elect Director Victoria Buyniski M For For Gluckman U.S. Bancorp USB 902973304 4/20/04 1.2 Elect Director Arthur D. M For For Collins, Jr. U.S. Bancorp USB 902973304 4/20/04 1.3 Elect Director Jerry W. Levin M For For U.S. Bancorp USB 902973304 4/20/04 1.4 Elect Director Thomas E. Petry M For For U.S. Bancorp USB 902973304 4/20/04 1.5 Elect Director Richard G. Reiten M For Withhold U.S. Bancorp USB 902973304 4/20/04 2 Ratify Auditors M For For U.S. Bancorp USB 902973304 4/20/04 3 Limit Executive Compensation S Against Against U.S. Bancorp USB 902973304 4/20/04 4 Submit Executive Compensation to S Against Against Vote U.S. Bancorp USB 902973304 4/20/04 5 Amend Vote Requirements to Amend S Against For Articles/Bylaws/Charter Merck & Co., Inc. MRK 589331107 4/27/04 1.1 Elect Director Peter C. Wendell M For For Merck & Co., Inc. MRK 589331107 4/27/04 1.2 Elect Director William G. Bowen M For For Merck & Co., Inc. MRK 589331107 4/27/04 1.3 Elect Director William M. Daley M For For Merck & Co., Inc. MRK 589331107 4/27/04 1.4 Elect Director Thomas E. Shenk M For For Merck & Co., Inc. MRK 589331107 4/27/04 1.5 Elect Director Wendell P. Weeks M For For Merck & Co., Inc. MRK 589331107 4/27/04 2 Ratify Auditors M For For Merck & Co., Inc. MRK 589331107 4/27/04 3 Declassify the Board of Directors M For For Merck & Co., Inc. MRK 589331107 4/27/04 4 Prohibit Awards to Executives S Against Against Merck & Co., Inc. MRK 589331107 4/27/04 5 Develop Ethical Criteria for S Against Against Patent Extension Merck & Co., Inc. MRK 589331107 4/27/04 6 Link Executive Compensation to S Against Against Social Issues Merck & Co., Inc. MRK 589331107 4/27/04 7 Report on Political Contributions S Against Against Merck & Co., Inc. MRK 589331107 4/27/04 8 Report on Operational Impact of S Against Against HIV/AIDS, TB, and Malaria Pandemic Texas Instruments Inc. TXN 882508104 4/15/04 1.1 Elect Director James R. Adams M For For Texas Instruments Inc. TXN 882508104 4/15/04 1.2 Elect Director David L. Boren M For For Texas Instruments Inc. TXN 882508104 4/15/04 1.3 Elect Director Daniel A. Carp M For For Texas Instruments Inc. TXN 882508104 4/15/04 1.4 Elect Director Thomas J. Engibous M For For Texas Instruments Inc. TXN 882508104 4/15/04 1.5 Elect Director Gerald W. M For For Fronterhouse Texas Instruments Inc. TXN 882508104 4/15/04 1.6 Elect Director David R. Goode M For For Texas Instruments Inc. TXN 882508104 4/15/04 1.7 Elect Director Wayne R. Sanders M For For Texas Instruments Inc. TXN 882508104 4/15/04 1.8 Elect Director Ruth J. Simmons M For For Texas Instruments Inc. TXN 882508104 4/15/04 1.9 Elect Director Richard K. M For For Templeton Texas Instruments Inc. TXN 882508104 4/15/04 1.10 Elect Director Christine Todd M For For Whitman Texas Instruments Inc. TXN 882508104 4/15/04 2 Ratify Auditors M For For Texas Instruments Inc. TXN 882508104 4/15/04 3 Expense Stock Options S Against Against Merrill Lynch & Co., Inc. MER 590188108 4/23/04 1.1 Elect Director David K. Newbigging M For For Merrill Lynch & Co., Inc. MER 590188108 4/23/04 1.2 Elect Director Joseph W. Prueher M For For Merrill Lynch & Co., Inc. MER 590188108 4/23/04 2 Ratify Auditors M For For Merrill Lynch & Co., Inc. MER 590188108 4/23/04 3 Restore or Provide for S Against Against Cumulative Voting Merrill Lynch & Co., Inc. MER 590188108 4/23/04 4 Separate Chairman and CEO S Against Against Positions Anheuser-Busch BUD 035229103 4/28/04 1.1 Elect Director August A. Busch III M For For Companies, Inc. Anheuser-Busch BUD 035229103 4/28/04 1.2 Elect Director Carlos Fernandez G. M For For Companies, Inc. Anheuser-Busch BUD 035229103 4/28/04 1.3 Elect Director James R. Jones M For For Companies, Inc. Anheuser-Busch BUD 035229103 4/28/04 1.4 Elect Director Andrew C. Taylor M For For Companies, Inc. Anheuser-Busch BUD 035229103 4/28/04 1.5 Elect Director Douglas A. M For For Warner III Companies, Inc. Anheuser-Busch BUD 035229103 4/28/04 2 Ratify Auditors M For For Companies, Inc. Adobe Systems Inc. ADBE 00724F101 4/28/04 1.1 Elect Director Michael R. Cannon M For For Adobe Systems Inc. ADBE 00724F101 4/28/04 1.2 Elect Director Bruce R. Chizen M For For Adobe Systems Inc. ADBE 00724F101 4/28/04 1.3 Elect Director James E. Daley M For For Adobe Systems Inc. ADBE 00724F101 4/28/04 1.4 Elect Director Charles M. Geschke M For For Adobe Systems Inc. ADBE 00724F101 4/28/04 1.5 Elect Director Delbert W. Yocam M For For Adobe Systems Inc. ADBE 00724F101 4/28/04 2 Amend Omnibus Stock Plan M For Against Adobe Systems Inc. ADBE 00724F101 4/28/04 3 Expense Stock Options S Against Against Adobe Systems Inc. ADBE 00724F101 4/28/04 4 Adopt a Plocy that will Committ S Against Against Executives to Hold a Significant Percentage of their Shares Adobe Systems Inc. ADBE 00724F101 4/28/04 5 Ratify Auditors M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Johnson & Johnson JNJ 478160104 4/22/04 1.1 Elect Director Gerard N. Burrow M For For Johnson & Johnson JNJ 478160104 4/22/04 1.2 Elect Director Mary S. Coleman M For For Johnson & Johnson JNJ 478160104 4/22/04 1.3 Elect Director James G. Cullen M For For Johnson & Johnson JNJ 478160104 4/22/04 1.4 Elect Director Robert J. Darretta M For For Johnson & Johnson JNJ 478160104 4/22/04 1.5 Elect Director M. Judah Folkman M For For Johnson & Johnson JNJ 478160104 4/22/04 1.6 Elect Director Ann D. Jordan M For For Johnson & Johnson JNJ 478160104 4/22/04 1.7 Elect Director Arnold G. Langbo M For For Johnson & Johnson JNJ 478160104 4/22/04 1.8 Elect Director Susan L. Lindquist M For For Johnson & Johnson JNJ 478160104 4/22/04 1.9 Elect Director Leo F. Mullin M For For Johnson & Johnson JNJ 478160104 4/22/04 1.10 Elect Director Steven S Reinemund M For For Johnson & Johnson JNJ 478160104 4/22/04 1.11 Elect Director David Satcher M For For Johnson & Johnson JNJ 478160104 4/22/04 1.12 Elect Director Henry B. Schacht M For For Johnson & Johnson JNJ 478160104 4/22/04 1.13 Elect Director William C. Weldon M For For Johnson & Johnson JNJ 478160104 4/22/04 2 Ratify Auditors M For For Johnson & Johnson JNJ 478160104 4/22/04 3 Cease Charitable Contributions S Against Against Burlington Resources Inc. BR 122014103 4/21/04 1.1 Elect Director Barbara T. M For Withhold Alexander Burlington Resources Inc. BR 122014103 4/21/04 1.2 Elect Director Reuben V. Anderson M For Withhold Burlington Resources Inc. BR 122014103 4/21/04 1.3 Elect Director Laird I. Grant M For Withhold Burlington Resources Inc. BR 122014103 4/21/04 1.4 Elect Director Robert J. Harding M For Withhold Burlington Resources Inc. BR 122014103 4/21/04 1.5 Elect Director John T. LaMacchia M For Withhold Burlington Resources Inc. BR 122014103 4/21/04 1.6 Elect Director Randy L. Limbacher M For Withhold Burlington Resources Inc. BR 122014103 4/21/04 1.7 Elect Director James F. McDonald M For Withhold Burlington Resources Inc. BR 122014103 4/21/04 1.8 Elect Director Kenneth W. Orce M For Withhold Burlington Resources Inc. BR 122014103 4/21/04 1.9 Elect Director Donald M. Roberts M For Withhold Burlington Resources Inc. BR 122014103 4/21/04 1.10 Elect Director James A. Runde M For Withhold Burlington Resources Inc. BR 122014103 4/21/04 1.11 Elect Director John F. Schwarz M For Withhold Burlington Resources Inc. BR 122014103 4/21/04 1.12 Elect Director Walter Scott, Jr. M For Withhold Burlington Resources Inc. BR 122014103 4/21/04 1.13 Elect Director Bobby S. Shackouls M For Withhold Burlington Resources Inc. BR 122014103 4/21/04 1.14 Elect Director Steven J. Shapiro M For Withhold Burlington Resources Inc. BR 122014103 4/21/04 1.15 Elect Director William E. M For Withhold Wade, Jr. Burlington Resources Inc. BR 122014103 4/21/04 2 Approve Increase in Common Stock M For For and a Stock Split Burlington Resources Inc. BR 122014103 4/21/04 3 Ratify Auditors M For For Pfizer Inc. PFE 717081103 4/22/04 1.1 Elect Director Michael S. Brown M For For Pfizer Inc. PFE 717081103 4/22/04 1.2 Elect Director M. Anthony Burns M For For Pfizer Inc. PFE 717081103 4/22/04 1.3 Elect Director Robert N. Burt M For For Pfizer Inc. PFE 717081103 4/22/04 1.4 Elect Director W. Don Cornwell M For For Pfizer Inc. PFE 717081103 4/22/04 1.5 Elect Director William H. Gray III M For For Pfizer Inc. PFE 717081103 4/22/04 1.6 Elect Director Constance J. Horner M For For Pfizer Inc. PFE 717081103 4/22/04 1.7 Elect Director William R. Howell M For For Pfizer Inc. PFE 717081103 4/22/04 1.8 Elect Director Stanley O. M For For Ikenberry Pfizer Inc. PFE 717081103 4/22/04 1.9 Elect Director George A. Lorch M For For Pfizer Inc. PFE 717081103 4/22/04 1.10 Elect Director Henry A. Mckinnell M For For Pfizer Inc. PFE 717081103 4/22/04 1.11 Elect Director Dana G. Mead M For For Pfizer Inc. PFE 717081103 4/22/04 1.12 Elect Director Franklin D. Raines M For For Pfizer Inc. PFE 717081103 4/22/04 1.13 Elect Director Ruth J. Simmons M For For Pfizer Inc. PFE 717081103 4/22/04 1.14 Elect Director William C. M For For Steere, Jr. Pfizer Inc. PFE 717081103 4/22/04 1.15 Elect Director Jean-Paul Valles M For For Pfizer Inc. PFE 717081103 4/22/04 2 Ratify Auditors M For For Pfizer Inc. PFE 717081103 4/22/04 3 Approve Omnibus Stock Plan M For For Pfizer Inc. PFE 717081103 4/22/04 4 Report on Operational Impact of S Against Against HIV/AIDS, TB, and Malaria Pandemic Pfizer Inc. PFE 717081103 4/22/04 5 Cease Political S Against Against Contributions/Activities Pfizer Inc. PFE 717081103 4/22/04 6 Report on Political S Against Against Contributions/Activities Pfizer Inc. PFE 717081103 4/22/04 7 Establish Term Limits for S Against Against Directors Pfizer Inc. PFE 717081103 4/22/04 8 Report on Drug Pricing S Against Against Pfizer Inc. PFE 717081103 4/22/04 9 Limit Awards to Executives S Against Against Pfizer Inc. PFE 717081103 4/22/04 10 Amend Animal Testing Policy S Against Against Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 1.1 Elect Director John R. Alm M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 1.2 Elect Director J. Trevor Eyton M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 1.3 Elect Director Gary P. Fayard M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 1.4 Elect Director L. Phillip Humann M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 1.5 Elect Director Paula G. Rosput M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 2 Approve Executive Incentive M For For Bonus Plan Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 3 Approve Omnibus Stock Plan M For Against Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 4 Amend Deferred Compensation Plan M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 5 Approve Employee Stock Purchase M For For Plan Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 6 Approve Employee Stock Purchase M For For Plan Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 7 Ratify Auditors M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 8 Submit Severance Agreement S Against For (Change-in-Control) to Shareholder Vote Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 9 Report on Recycling Policy S Against Against Abbott Laboratories ABT 002824100 4/23/04 1.1 Elect Director Roxanne S. Austin M For For Abbott Laboratories ABT 002824100 4/23/04 1.2 Elect Director H.Laurance Fuller M For For Abbott Laboratories ABT 002824100 4/23/04 1.3 Elect Director Richard A. Gonzalez M For For Abbott Laboratories ABT 002824100 4/23/04 1.4 Elect Director Jack M. Greenberg M For For Abbott Laboratories ABT 002824100 4/23/04 1.5 Elect Director Jeffrey M. Leiden M For For Abbott Laboratories ABT 002824100 4/23/04 1.6 Elect Director David A. Lord Owen M For For Abbott Laboratories ABT 002824100 4/23/04 1.7 Elect Director Boone Powell Jr. M For For Abbott Laboratories ABT 002824100 4/23/04 1.8 Elect Director Addison Barry Rand M For For Abbott Laboratories ABT 002824100 4/23/04 1.9 Elect Director W.Ann Reynolds M For For Abbott Laboratories ABT 002824100 4/23/04 1.10 Elect Director Roy S. Roberts M For For Abbott Laboratories ABT 002824100 4/23/04 1.11 Elect Director William D. M For For Smithburg Abbott Laboratories ABT 002824100 4/23/04 1.12 Elect Director John R. Walter M For For Abbott Laboratories ABT 002824100 4/23/04 1.13 Elect Director Miles D. White M For For Abbott Laboratories ABT 002824100 4/23/04 2 Ratify Auditors M For For Abbott Laboratories ABT 002824100 4/23/04 3 Drug Pricing S Against Against Abbott Laboratories ABT 002824100 4/23/04 4 Report on Political S Against Against Contributions/Activities Abbott Laboratories ABT 002824100 4/23/04 5 Prohibit Awards to Executives S Against Against Abbott Laboratories ABT 002824100 4/23/04 6 Report on Operational Imact of S Against Against HIV/AIDS, TB, and Malaria Pandemic American Express Co. AXP 025816109 4/26/04 1.1 Elect Director Daniel F. Akerson M For For American Express Co. AXP 025816109 4/26/04 1.2 Elect Director Charlene Barshefsky M For For American Express Co. AXP 025816109 4/26/04 1.3 Elect Director William G. Bowen M For For American Express Co. AXP 025816109 4/26/04 1.4 Elect Director Ursula M. Burns M For For American Express Co. AXP 025816109 4/26/04 1.5 Elect Director Kenneth I. Chenault M For For American Express Co. AXP 025816109 4/26/04 1.6 Elect Director Peter R. Dolan M For For American Express Co. AXP 025816109 4/26/04 1.7 Elect Director Vernon E. M For For Jordan, Jr. American Express Co. AXP 025816109 4/26/04 1.8 Elect Director Jan Leschly M For For American Express Co. AXP 025816109 4/26/04 1.9 Elect Director Richard A. McGinn M For For American Express Co. AXP 025816109 4/26/04 1.10 Elect Director Edward D. Miller M For For American Express Co. AXP 025816109 4/26/04 1.11 Elect Director Frank P. Popoff M For For American Express Co. AXP 025816109 4/26/04 1.12 Elect Director Robert D. Walter M For For American Express Co. AXP 025816109 4/26/04 2 Ratify Auditors M For For American Express Co. AXP 025816109 4/26/04 3 Establish Term Limits for S Against Against Directors American Express Co. AXP 025816109 4/26/04 4 Report on Political S Against Against Contributions/Activities Citigroup Inc. C 172967101 4/20/04 1.1 Elect Director C. Michael M For For Armstrong Citigroup Inc. C 172967101 4/20/04 1.2 Elect Director Alain J.P. Belda M For For Citigroup Inc. C 172967101 4/20/04 1.3 Elect Director George David M For For Citigroup Inc. C 172967101 4/20/04 1.4 Elect Director Kenneth T. Derr M For For Citigroup Inc. C 172967101 4/20/04 1.5 Elect Director John M. Deutch M For For Citigroup Inc. C 172967101 4/20/04 1.6 Elect Director Roberto Hernandez M For For Ramirez Citigroup Inc. C 172967101 4/20/04 1.7 Elect Director Ann Dibble Jordan M For For Citigroup Inc. C 172967101 4/20/04 1.8 Elect Director Dudley C. Mecum M For For Citigroup Inc. C 172967101 4/20/04 1.9 Elect Director Richard D. Parsons M For For Citigroup Inc. C 172967101 4/20/04 1.10 Elect Director Andrall E. Pearson M For For Citigroup Inc. C 172967101 4/20/04 1.11 Elect Director Charles Prince M For For Citigroup Inc. C 172967101 4/20/04 1.12 Elect Director Robert E. Rubin M For For Citigroup Inc. C 172967101 4/20/04 1.13 Elect Director Franklin A. Thomas M For For Citigroup Inc. C 172967101 4/20/04 1.14 Elect Director Sanford I. Weill M For For Citigroup Inc. C 172967101 4/20/04 1.15 Elect Director Robert B. M For For Willumstad Citigroup Inc. C 172967101 4/20/04 2 Ratify Auditors M For For Citigroup Inc. C 172967101 4/20/04 3 Limit Executive Compensation S Against Against Citigroup Inc. C 172967101 4/20/04 4 Report on Political S Against Against Contributions/Activities Citigroup Inc. C 172967101 4/20/04 5 Prohibit Awards to Executives S Against Against Citigroup Inc. C 172967101 4/20/04 6 Separate Chairman and CEO S Against Against Positions Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ State Street Corp. STT 857477103 4/21/04 1.1 Elect Director Kennett Burnes M For For (Boston) State Street Corp. STT 857477103 4/21/04 1.2 Elect Director David Gruber M For For (Boston) State Street Corp. STT 857477103 4/21/04 1.3 Elect Director Linda Hill M For For (Boston) State Street Corp. STT 857477103 4/21/04 1.4 Elect Director Charles Lamantia M For For (Boston) State Street Corp. STT 857477103 4/21/04 1.5 Elect Director Robert Weissman M For For (Boston) State Street Corp. STT 857477103 4/21/04 2 Exempt Board of Directors from S Against For (Boston) Massachusetts General Laws, Chapter 156B, Section 50A(a) Piper Jaffray Cos PJC 724078100 4/28/04 1.1 Elect Director Andrew S. Duff M For Withhold Piper Jaffray Cos PJC 724078100 4/28/04 1.2 Elect Director Samuel L. Kaplan M For Withhold Piper Jaffray Cos PJC 724078100 4/28/04 1.3 Elect Director Frank L. Sims M For Withhold Piper Jaffray Cos PJC 724078100 4/28/04 2 Approve Omnibus Stock Plan M For Against Piper Jaffray Cos PJC 724078100 4/28/04 3 Ratify Auditors M For For Sprint Corp. FON 852061100 4/20/04 1.1 Elect Director Gordon M. Bethune M For For Sprint Corp. FON 852061100 4/20/04 1.2 Elect Director E. Linn Draper, Jr. M For For Sprint Corp. FON 852061100 4/20/04 1.3 Elect Director Deborah A. Henretta M For For Sprint Corp. FON 852061100 4/20/04 1.4 Elect Director Linda Koch Lorimer M For For Sprint Corp. FON 852061100 4/20/04 2 Ratify Auditors M For For Sprint Corp. FON 852061100 4/20/04 3 Performance- Based/Indexed Options S Against Against Sprint Corp. FON 852061100 4/20/04 4 Limit Executive Compensation S Against Against Sprint Corp. FON 852061100 4/20/04 5 Separate Chairman and CEO S Against Against Positions Sprint Corp. FON 852061100 4/20/04 6 Report on Foreign Outsourcing S Against Against MBNA Corp. KRB 55262L100 5/3/04 1.1 Elect Director James H. Berick M For Withhold MBNA Corp. KRB 55262L100 5/3/04 1.2 Elect Director Benjamin R. M For Withhold Civiletti MBNA Corp. KRB 55262L100 5/3/04 1.3 Elect Director Bruce L. Hammonds M For Withhold MBNA Corp. KRB 55262L100 5/3/04 1.4 Elect Director William L. Jews M For Withhold MBNA Corp. KRB 55262L100 5/3/04 1.5 Elect Director Randolph D. Lerner M For Withhold MBNA Corp. KRB 55262L100 5/3/04 1.6 Elect Director Stuart L. Markowitz M For Withhold MBNA Corp. KRB 55262L100 5/3/04 1.7 Elect Director William B. Milstead M For Withhold MBNA Corp. KRB 55262L100 5/3/04 2 Ratify Auditors M For For MBNA Corp. KRB 55262L100 5/3/04 3 Expense Stock Options S Against Against MBNA Corp. KRB 55262L100 5/3/04 4 Require Majority of Independent S Against Against Directors on Board Harrah's Entertainment, HET 413619107 4/29/04 1.1 Elect Director Ralph Horn M For For Inc. Harrah's Entertainment, HET 413619107 4/29/04 1.2 Elect Director Gary W. Loveman M For For Inc. Harrah's Entertainment, HET 413619107 4/29/04 1.3 Elect Director Philip G. Satre M For For Inc. Harrah's Entertainment, HET 413619107 4/29/04 1.4 Elect Director Boake A. Sells M For For Inc. Harrah's Entertainment, HET 413619107 4/29/04 2 Approve Omnibus Stock Plan M For For Inc. Harrah's Entertainment, HET 413619107 4/29/04 3 Approve Executive Incentive M For For Inc. Bonus Plan Harrah's Entertainment, HET 413619107 4/29/04 4 Ratify Auditors M For For Inc. Harrah's Entertainment, HET 413619107 4/29/04 5 Report on Political S Against Against Inc. Contributions/Activities MEDCO Health Solutions MHS 58405U102 4/21/04 1.1 Elect Director David B. Snow, Jr. M For For Inc MEDCO Health Solutions MHS 58405U102 4/21/04 1.2 Elect Director Howard W. M For For Inc Barker, Jr. MEDCO Health Solutions MHS 58405U102 4/21/04 1.3 Elect Director Brian L. Strom, M For For Inc Md, Mph MEDCO Health Solutions MHS 58405U102 4/21/04 2 Ratify Auditors M For For Inc EMC Corp. EMC 268648102 5/5/04 1.1 Elect Director John R. Egan M For For EMC Corp. EMC 268648102 5/5/04 1.2 Elect Director Michael C. M For For Ruettgers EMC Corp. EMC 268648102 5/5/04 1.3 Elect Director David N. Strohm M For For EMC Corp. EMC 268648102 5/5/04 2 Amend Omnibus Stock Plan M For For EMC Corp. EMC 268648102 5/5/04 3 Amend Employee Stock Purchase Plan M For For EMC Corp. EMC 268648102 5/5/04 4 Ratify Auditors M For For EMC Corp. EMC 268648102 5/5/04 5 Limit Executive Compensation S Against Against Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Whirlpool Corp. WHR 963320106 4/20/04 1.1 Elect Director Allan D. Gilmour M For For Whirlpool Corp. WHR 963320106 4/20/04 1.2 Elect Director Michael F. Johnston M For For Whirlpool Corp. WHR 963320106 4/20/04 1.3 Elect Director Janice D. Stoney M For For Whirlpool Corp. WHR 963320106 4/20/04 1.4 Elect Director David R. Whitwam M For For Whirlpool Corp. WHR 963320106 4/20/04 2 Amend Executive Incentive Bonus M For For Plan Altria Group, Inc. MO 02209S103 4/29/04 1.1 Elect Director Elizabeth E. Bailey M For For Altria Group, Inc. MO 02209S103 4/29/04 1.2 Elect Director Mathis M For For Cabiallavetta Altria Group, Inc. MO 02209S103 4/29/04 1.3 Elect Director Louis C. Camilleri M For For Altria Group, Inc. MO 02209S103 4/29/04 1.4 Elect Director J. Dudley Fishburn M For For Altria Group, Inc. MO 02209S103 4/29/04 1.5 Elect Director Robert E. R. M For For Huntley Altria Group, Inc. MO 02209S103 4/29/04 1.6 Elect Director Thomas W. Jones M For For Altria Group, Inc. MO 02209S103 4/29/04 1.7 Elect Director Lucio A. Noto M For For Altria Group, Inc. MO 02209S103 4/29/04 1.8 Elect Director John S. Reed M For For Altria Group, Inc. MO 02209S103 4/29/04 1.9 Elect Director Carlos Slim Helu M For For Altria Group, Inc. MO 02209S103 4/29/04 1.10 Elect Director Stephen M. Wolf M For For Altria Group, Inc. MO 02209S103 4/29/04 2 Ratify Auditors M For For Altria Group, Inc. MO 02209S103 4/29/04 3 Report on Product Warnings for S Against Against Pregnant Women Altria Group, Inc. MO 02209S103 4/29/04 4 Report on Health Risks Associated S Against Against with Cigarette Filters Altria Group, Inc. MO 02209S103 4/29/04 5 Political Contributions/Activities S Against Against Altria Group, Inc. MO 02209S103 4/29/04 6 Cease Use of Light and Ultra Light S Against Against in Cigarette Marketing Altria Group, Inc. MO 02209S103 4/29/04 7 Place Canadian Style Warnings on S Against Against Cigarette Packaging Altria Group, Inc. MO 02209S103 4/29/04 8 Separate Chairman and CEO S Against Against Positions Guidant Corp. GDT 401698105 5/18/04 1.1 Elect Director Maurice A. Cox, Jr. M For For Guidant Corp. GDT 401698105 5/18/04 1.2 Elect Director Nancy-Ann Min M For For DeParle Guidant Corp. GDT 401698105 5/18/04 1.3 Elect Director Ronald W. Dollens M For For Guidant Corp. GDT 401698105 5/18/04 1.4 Elect Director Enrique C. Falla M For For Guidant Corp. GDT 401698105 5/18/04 1.5 Elect Director Kristina M. M For For Johnson, Ph.D. Guidant Corp. GDT 401698105 5/18/04 2 Ratify Auditors M For For Guidant Corp. GDT 401698105 5/18/04 3 Expense Stock Options S Against Against Wells Fargo & Company WFC 949746101 4/27/04 1.1 Elect Director J.A. Blanchard III M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.2 Elect Director Susan E. Engel M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.3 Elect Director Enrique M For Withhold Hernandez, Jr. Wells Fargo & Company WFC 949746101 4/27/04 1.4 Elect Director Robert L. Joss M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.5 Elect Director Reatha Clark King M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.6 Elect Director Richard M. M For Withhold Kovacevich Wells Fargo & Company WFC 949746101 4/27/04 1.7 Elect Director Richard D. M For Withhold McCormick Wells Fargo & Company WFC 949746101 4/27/04 1.8 Elect Director Cynthia H. Milligan M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.9 Elect Director Philip J. Quigley M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.10 Elect Director Donald B. Rice M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.11 Elect Director Judith M. Runstad M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.12 Elect Director Stephen W. Sanger M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.13 Elect Director Susan G. Swenson M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.14 Elect Director Michael W. Wright M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 2 Approve Retirement Plan M For For Wells Fargo & Company WFC 949746101 4/27/04 3 Ratify Auditors M For For Wells Fargo & Company WFC 949746101 4/27/04 4 Expense Stock Options S Against Against Wells Fargo & Company WFC 949746101 4/27/04 5 Limit Executive Compensation S Against Against Wells Fargo & Company WFC 949746101 4/27/04 6 Link Executive Compensation to S Against Against Social Issues Wells Fargo & Company WFC 949746101 4/27/04 7 Report on Political S Against Against Contributions/Activities Genentech, Inc. DNA 368710406 4/16/04 1 Amend Articles/Bylaws/ M For For Charter-Non-Routine Genentech, Inc. DNA 368710406 4/16/04 2.1 Elect Director Herbert W. Boyer M For Against Genentech, Inc. DNA 368710406 4/16/04 2.2 Elect Director Arthur D. Levinson M For Against Genentech, Inc. DNA 368710406 4/16/04 2.3 Elect Director Mark Richmond M For For Genentech, Inc. DNA 368710406 4/16/04 2.4 Elect Director Charles A. Sanders M For For Genentech, Inc. DNA 368710406 4/16/04 2.5 Elect Director William M. Burns M For Against Genentech, Inc. DNA 368710406 4/16/04 2.6 Elect Director Erich Hunziker M For Against Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Genentech, Inc. DNA 368710406 4/16/04 2.7 Elect Director Jonathan K.C. M For Against Knowles Genentech, Inc. DNA 368710406 4/16/04 3 Elect Director M. Burns M For Against Genentech, Inc. DNA 368710406 4/16/04 4 Elect Director Erich Hunziker M For Against Genentech, Inc. DNA 368710406 4/16/04 5 Elect Director Jonathan K.C. M For Against Knowles Genentech, Inc. DNA 368710406 4/16/04 6 Increase Authorized Common Stock M For For Genentech, Inc. DNA 368710406 4/16/04 7 Approve Omnibus Stock Plan M For For Genentech, Inc. DNA 368710406 4/16/04 8 Ratify Auditors M For For Lexmark International, LXK 529771107 4/22/04 1.1 Elect Director Frank T. Cary M For Withhold Inc. Lexmark International, LXK 529771107 4/22/04 1.2 Elect Director Paul J. Curlander M For Withhold Inc. Lexmark International, LXK 529771107 4/22/04 1.3 Elect Director Martin D. Walker M For Withhold Inc. Lexmark International, LXK 529771107 4/22/04 1.4 Elect Director James F. Hardymon M For Withhold Inc. Lexmark International, LXK 529771107 4/22/04 2 Approve Executive Incentive M For For Inc. Bonus Plan Lexmark International, LXK 529771107 4/22/04 3 Ratify Auditors M For For Inc. United Parcel Service, UPS 911312106 5/6/04 1.1 Elect Director Calvin Darden M For For Inc. United Parcel Service, UPS 911312106 5/6/04 1.2 Elect Director Michael L. Eskew M For For Inc. United Parcel Service, UPS 911312106 5/6/04 1.3 Elect Director James P. Kelly M For For Inc. United Parcel Service, UPS 911312106 5/6/04 1.4 Elect Director Ann M. Livermore M For For Inc. United Parcel Service, UPS 911312106 5/6/04 1.5 Elect Director Gary E. MacDougal M For For Inc. United Parcel Service, UPS 911312106 5/6/04 1.6 Elect Director Victor A. Pelson M For For Inc. United Parcel Service, UPS 911312106 5/6/04 1.7 Elect Director Lea N. Soupata M For For Inc. United Parcel Service, UPS 911312106 5/6/04 1.8 Elect Director Robert M. Teeter M For For Inc. United Parcel Service, UPS 911312106 5/6/04 1.9 Elect Director John W. Thompson M For For Inc. United Parcel Service, UPS 911312106 5/6/04 1.10 Elect Director Carol B. Tome M For For Inc. United Parcel Service, UPS 911312106 5/6/04 2 Ratify Auditors M For For Inc. Convergys Corp. CVG 212485106 4/27/04 1.1 Elect Director Zoe Baird M For For Convergys Corp. CVG 212485106 4/27/04 1.2 Elect Director Roger L. Howe M For For Convergys Corp. CVG 212485106 4/27/04 1.3 Elect Director Philip A. Odeen M For For Convergys Corp. CVG 212485106 4/27/04 1.4 Elect Director James M. Zimmerman M For For Convergys Corp. CVG 212485106 4/27/04 2 Amend Omnibus Stock Plan M For For Convergys Corp. CVG 212485106 4/27/04 3 Approve Employee Stock Purchase M For For Plan Convergys Corp. CVG 212485106 4/27/04 4 Ratify Auditors M For For Wyeth WYE 983024100 4/22/04 1.1 Elect Director Clifford L. M For For Alexander, Jr. Wyeth WYE 983024100 4/22/04 1.2 Elect Director Frank A. M For For Bennack, Jr. Wyeth WYE 983024100 4/22/04 1.3 Elect Director Richard L. Carrion M For For Wyeth WYE 983024100 4/22/04 1.4 Elect Director Robert Essner M For For Wyeth WYE 983024100 4/22/04 1.5 Elect Director John D. Feerick M For For Wyeth WYE 983024100 4/22/04 1.6 Elect Director Robert Langer M For For Wyeth WYE 983024100 4/22/04 1.7 Elect Director John P. Mascotte M For For Wyeth WYE 983024100 4/22/04 1.8 Elect Director Mary Lake Polan M For For Wyeth WYE 983024100 4/22/04 1.9 Elect Director Ivan G. Seidenberg M For For Wyeth WYE 983024100 4/22/04 1.10 Elect Director Walter V. Shipley M For For Wyeth WYE 983024100 4/22/04 1.11 Elect Director John R. Torell III M For For Wyeth WYE 983024100 4/22/04 2 Ratify Auditors M For For Wyeth WYE 983024100 4/22/04 3 Report on Drug Pricing S Against Against Wyeth WYE 983024100 4/22/04 4 Amend Animal Testing Policy S Against Against Allergan, Inc. AGN 018490102 4/28/04 1.1 Elect Director Handel E. Evans M For For Allergan, Inc. AGN 018490102 4/28/04 1.2 Elect Director Michael R. M For For Gallagher Allergan, Inc. AGN 018490102 4/28/04 1.3 Elect Director Gavin S. Herbert M For For Allergan, Inc. AGN 018490102 4/28/04 1.4 Elect Director Stephen J. Ryan M For For Allergan, Inc. AGN 018490102 4/28/04 2 Ratify Auditors M For For Allergan, Inc. AGN 018490102 4/28/04 3 Expense Stock Options S Against Against Allergan, Inc. AGN 018490102 4/28/04 4 Separate Chairman and CEO S Against Against Positions Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Doral Financial Corp. DRL 25811P100 4/21/04 1.1 Elect Director Richard F. Bonini M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.2 Elect Director Edgar M. M For For Cullman, Jr Doral Financial Corp. DRL 25811P100 4/21/04 1.3 Elect Director John L. Ernst M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.4 Elect Director Peter A. Hoffman M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.5 Elect Director Efraim Kier M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.6 Elect Director Salomon Levis M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.7 Elect Director Zoila Levis M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.8 Elect Director Harold D. Vicente M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.9 Elect Director John B. Hughes M For For Doral Financial Corp. DRL 25811P100 4/21/04 2 Increase Authorized Common Stock M For For Doral Financial Corp. DRL 25811P100 4/21/04 3 Increase Authorized Preferred M For Against Stock Doral Financial Corp. DRL 25811P100 4/21/04 4 Approve Omnibus Stock Plan M For For Doral Financial Corp. DRL 25811P100 4/21/04 5 Ratify Auditors M For For Capital One Financial COF 14040H105 4/29/04 1.1 Elect Director W. Ronald Dietz M For For Corp. Capital One Financial COF 14040H105 4/29/04 1.2 Elect Director Lewis Hay, III M For For Corp. Capital One Financial COF 14040H105 4/29/04 1.3 Elect Director Mayo A. M For For Corp. Shattuck, III Capital One Financial COF 14040H105 4/29/04 2 Ratify Auditors M For For Corp. Capital One Financial COF 14040H105 4/29/04 3 Approve Omnibus Stock Plan M For For Corp. Marriott International MAR 571903202 4/30/04 1.1 Elect Director Lawrence W. Kellner M For For Inc. (New) Marriott International MAR 571903202 4/30/04 1.2 Elect Director John W. M For For Inc. (New) Marriott III Marriott International MAR 571903202 4/30/04 1.3 Elect Director Harry J. Pearce M For For Inc. (New) Marriott International MAR 571903202 4/30/04 2 Ratify Auditors M For For Inc. (New) Marriott International MAR 571903202 4/30/04 3 Provide for Cumulative Voting S Against Against Inc. (New) Sealed Air Corp. SEE 81211K100 5/5/04 1.1 Elect Director Hank Brown M For For Sealed Air Corp. SEE 81211K100 5/5/04 1.2 Elect Director Michael Chu M For For Sealed Air Corp. SEE 81211K100 5/5/04 1.3 Elect Director Lawrence R. Codey M For For Sealed Air Corp. SEE 81211K100 5/5/04 1.4 Elect Director T.J. Dermot Dunphy M For For Sealed Air Corp. SEE 81211K100 5/5/04 1.5 Elect Director Charles F. M For For Farrell, Jr. Sealed Air Corp. SEE 81211K100 5/5/04 1.6 Elect Director William V. Hickey M For For Sealed Air Corp. SEE 81211K100 5/5/04 1.7 Elect Director Kenneth P. Manning M For For Sealed Air Corp. SEE 81211K100 5/5/04 1.8 Elect Director William J. Marino M For For Sealed Air Corp. SEE 81211K100 5/5/04 2 Ratify Auditors M For For PepsiCo, Inc. PEP 713448108 5/5/04 1.1 Elect Director John F. Akers M For For PepsiCo, Inc. PEP 713448108 5/5/04 1.2 Elect Director Robert E. Allen M For For PepsiCo, Inc. PEP 713448108 5/5/04 1.3 Elect Director Ray L. Hunt M For For PepsiCo, Inc. PEP 713448108 5/5/04 1.4 Elect Director Arthur C. Martinez M For For PepsiCo, Inc. PEP 713448108 5/5/04 1.5 Elect Director Indra K. Nooyi M For For PepsiCo, Inc. PEP 713448108 5/5/04 1.6 Elect Director Franklin D. Raines M For For PepsiCo, Inc. PEP 713448108 5/5/04 1.7 Elect Director Steven S. Reinemund M For For PepsiCo, Inc. PEP 713448108 5/5/04 1.8 Elect Director Sharon Percy M For For Rockefeller PepsiCo, Inc. PEP 713448108 5/5/04 1.9 Elect Director James J. Schiro M For For PepsiCo, Inc. PEP 713448108 5/5/04 1.10 Elect Director Franklin A. Thomas M For For PepsiCo, Inc. PEP 713448108 5/5/04 1.11 Elect Director Cynthia M. Trudell M For For PepsiCo, Inc. PEP 713448108 5/5/04 1.12 Elect Director Solomon D. Trujillo M For For PepsiCo, Inc. PEP 713448108 5/5/04 1.13 Elect Director Daniel Vasella M For For PepsiCo, Inc. PEP 713448108 5/5/04 2 Ratify Auditors M For For PepsiCo, Inc. PEP 713448108 5/5/04 3 Approve Executive Incentive M For For Bonus Plan PepsiCo, Inc. PEP 713448108 5/5/04 4 Report on Political S Against Against Contributions/Activities PepsiCo, Inc. PEP 713448108 5/5/04 5 Report on Operational Impact of S Against Against HIV/AIDS, TB, and Malaria Pandemic The Boeing Co. BA 097023105 5/3/04 1.1 Elect Director John H. Biggs M For For The Boeing Co. BA 097023105 5/3/04 1.2 Elect Director John E. Bryson M For For The Boeing Co. BA 097023105 5/3/04 1.3 Elect Director Linda Z. Cook M For For The Boeing Co. BA 097023105 5/3/04 1.4 Elect Director Rozanne L. Ridgway M For For The Boeing Co. BA 097023105 5/3/04 2 Reduce Supermajority Vote M For For Requirement Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ The Boeing Co. BA 097023105 5/3/04 3 Ratify Auditors M For For The Boeing Co. BA 097023105 5/3/04 4 Develop Ethical Criteria for S Against Against Military Contracts The Boeing Co. BA 097023105 5/3/04 5 Adopt Amended Workplace Code of S Against Against Conduct The Boeing Co. BA 097023105 5/3/04 6 Declassify the Board of Directors S Against For The Boeing Co. BA 097023105 5/3/04 7 Amend Vote Requirements to Amend S Against For Articles/Bylaws/Charter The Boeing Co. BA 097023105 5/3/04 8 Submit Severance Agreement S Against For (Change-in-Control) to Shareholder Vote The Boeing Co. BA 097023105 5/3/04 9 Adopt a Policy that will Commit S Against Against Executive & Directors to Hold at least 75% of their Shares The Boeing Co. BA 097023105 5/3/04 10 Provide Employees Choice of S Against Against Pension Plans at Retirement or Termination LSI Logic Corp. LSI 502161102 5/6/04 1.1 Elect Director Wilfred J. Corrigan M For For LSI Logic Corp. LSI 502161102 5/6/04 1.2 Elect Director James H. Keyes M For For LSI Logic Corp. LSI 502161102 5/6/04 1.3 Elect Director Malcolm R. Currie M For For LSI Logic Corp. LSI 502161102 5/6/04 1.4 Elect Director T.Z. Chu M For For LSI Logic Corp. LSI 502161102 5/6/04 1.5 Elect Director R. Douglas Norby M For For LSI Logic Corp. LSI 502161102 5/6/04 1.6 Elect Director Matthew J. O'Rourke M For For LSI Logic Corp. LSI 502161102 5/6/04 1.7 Elect Director Gregorio Reyes M For For LSI Logic Corp. LSI 502161102 5/6/04 1.8 Elect Director Larry W. Sonsini M For Withhold LSI Logic Corp. LSI 502161102 5/6/04 2 Amend Employee Stock Purchase Plan M For For LSI Logic Corp. LSI 502161102 5/6/04 3 Amend Employee Stock Purchase Plan M For For LSI Logic Corp. LSI 502161102 5/6/04 4 Approve/Amend Executive Incentive M For For Bonus Plan LSI Logic Corp. LSI 502161102 5/6/04 5 Ratify Auditors M For For Kohl's Corp. KSS 500255104 4/28/04 1.1 Elect Director Wayne Embry M For For Kohl's Corp. KSS 500255104 4/28/04 1.2 Elect Director John F. Herma M For For Kohl's Corp. KSS 500255104 4/28/04 1.3 Elect Director R. Lawrence M For For Montgomery Kohl's Corp. KSS 500255104 4/28/04 1.4 Elect Director Frank V. Sica M For For Kohl's Corp. KSS 500255104 4/28/04 2 Ratify Auditors M For For Kohl's Corp. KSS 500255104 4/28/04 3 Performance-Based Stock/Indexed S Against Against Options Kohl's Corp. KSS 500255104 4/28/04 4 Separate Chairman and CEO S Against Against Positions The Charles Schwab Corp. SCH 808513105 5/17/04 1.1 Elect Director Donald G. Fisher M For For The Charles Schwab Corp. SCH 808513105 5/17/04 1.2 Elect Director Paula A. Sneed M For For The Charles Schwab Corp. SCH 808513105 5/17/04 1.3 Elect Director David B. Yoffie M For For The Charles Schwab Corp. SCH 808513105 5/17/04 2 Approve Omnibus Stock Plan M For For Intel Corp. INTC 458140100 5/19/04 1.1 Elect Director Craig R. Barrett M For For Intel Corp. INTC 458140100 5/19/04 1.2 Elect Director Charlene Barshefsky M For For Intel Corp. INTC 458140100 5/19/04 1.3 Elect Director E. John P. Browne M For For Intel Corp. INTC 458140100 5/19/04 1.4 Elect Director Andrew S. Grove M For For Intel Corp. INTC 458140100 5/19/04 1.5 Elect Director D. James Guzy M For Withhold Intel Corp. INTC 458140100 5/19/04 1.6 Elect Director Reed E. Hundt M For For Intel Corp. INTC 458140100 5/19/04 1.7 Elect Director Paul S. Otellini M For For Intel Corp. INTC 458140100 5/19/04 1.8 Elect Director David S. Pottruck M For For Intel Corp. INTC 458140100 5/19/04 1.9 Elect Director Jane E. Shaw M For For Intel Corp. INTC 458140100 5/19/04 1.10 Elect Director John L. Thornton M For For Intel Corp. INTC 458140100 5/19/04 1.11 Elect Director David B. Yoffie M For For Intel Corp. INTC 458140100 5/19/04 2 Ratify Auditors M For For Intel Corp. INTC 458140100 5/19/04 3 Approve Omnibus Stock Plan M For For Intel Corp. INTC 458140100 5/19/04 4 Expense Stock Options S Against Against Intel Corp. INTC 458140100 5/19/04 5 Limit/Prohibit Awards to S Against Against Executives Intel Corp. INTC 458140100 5/19/04 6 Performance- Based/Indexed Options S Against Against IMS Health Inc. RX 449934108 5/7/04 1.1 Elect Director James D. Edwards M For For IMS Health Inc. RX 449934108 5/7/04 1.2 Elect Director David M. Thomas M For For IMS Health Inc. RX 449934108 5/7/04 1.3 Elect Director William C. Van M For For Faasen IMS Health Inc. RX 449934108 5/7/04 2 Ratify Auditors M For For IMS Health Inc. RX 449934108 5/7/04 3 Declassify the Board of Directors S Against For IMS Health Inc. RX 449934108 5/7/04 4 Submit Severance Agreement S Against For (Change-in-Control) to Shareholder Vote Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Echostar Communications DISH 278762109 5/6/04 1.1 Elect Director Michael T. Dugan M For Withhold Corp. Echostar Communications DISH 278762109 5/6/04 1.2 Elect Director James Defranco M For Withhold Corp. Echostar Communications DISH 278762109 5/6/04 1.3 Elect Director Cantey Ergen M For Withhold Corp. Echostar Communications DISH 278762109 5/6/04 1.4 Elect Director Charles W. Ergen M For Withhold Corp. Echostar Communications DISH 278762109 5/6/04 1.5 Elect Director Raymond L. Friedlob M For Withhold Corp. Echostar Communications DISH 278762109 5/6/04 1.6 Elect Director Steven R. Goodbarn M For Withhold Corp. Echostar Communications DISH 278762109 5/6/04 1.7 Elect Director David K. Moskowitz M For Withhold Corp. Echostar Communications DISH 278762109 5/6/04 1.8 Elect Director C. Michael M For Withhold Corp. Schroeder Echostar Communications DISH 278762109 5/6/04 2 Ratify Auditors M For For Corp. Echostar Communications DISH 278762109 5/6/04 3 Other Business M For Against Corp. 3M CO MMM 88579Y101 5/11/04 1.1 Elect Director Edward A. Brennan M For Withhold 3M CO MMM 88579Y101 5/11/04 1.2 Elect Director Michael L. Eskew M For Withhold 3M CO MMM 88579Y101 5/11/04 1.3 Elect Director W. James McNerney, M For Withhold Jr. 3M CO MMM 88579Y101 5/11/04 1.4 Elect Director Kevin W. Sharer M For Withhold 3M CO MMM 88579Y101 5/11/04 2 Ratify Auditors M For For 3M CO MMM 88579Y101 5/11/04 3 Increase Authorized Common Stock M For For 3M CO MMM 88579Y101 5/11/04 4 Separate Chairman and CEO Positions S Against Against Entergy Corp. ETR 29364G103 5/14/04 1.1 Elect Director Maureen Scannell M For For Bateman Entergy Corp. ETR 29364G103 5/14/04 1.2 Elect Director W. Frank Blount M For For Entergy Corp. ETR 29364G103 5/14/04 1.3 Elect Director Simon D. deBree M For For Entergy Corp. ETR 29364G103 5/14/04 1.4 Elect Director Claiborne P. Deming M For For Entergy Corp. ETR 29364G103 5/14/04 1.5 Elect Director Alexis M. Herman M For For Entergy Corp. ETR 29364G103 5/14/04 1.6 Elect Director Donald C. Hintz M For For Entergy Corp. ETR 29364G103 5/14/04 1.7 Elect Director J. Wayne Leonard M For For Entergy Corp. ETR 29364G103 5/14/04 1.8 Elect Director Robert v.d. Luft M For For Entergy Corp. ETR 29364G103 5/14/04 1.9 Elect Director Kathleen A. Murphy M For For Entergy Corp. ETR 29364G103 5/14/04 1.10 Elect Director Paul W. Murrill M For For Entergy Corp. ETR 29364G103 5/14/04 1.11 Elect Director James R. Nichols M For For Entergy Corp. ETR 29364G103 5/14/04 1.12 Elect Director William A. Percy, M For For II Entergy Corp. ETR 29364G103 5/14/04 1.13 Elect Director Dennis H. Reilley M For For Entergy Corp. ETR 29364G103 5/14/04 1.14 Elect Director Wm. Clifford Smith M For For Entergy Corp. ETR 29364G103 5/14/04 1.15 Elect Director Bismark A. M For For Steinhagen Entergy Corp. ETR 29364G103 5/14/04 1.16 Elect Director Steven V. Wilkinson M For For Entergy Corp. ETR 29364G103 5/14/04 2 Ratify Auditors M For For Entergy Corp. ETR 29364G103 5/14/04 3 Submit Severance Agreement (Change-in-Control) to Shareholder S Against For Vote Entergy Corp. ETR 29364G103 5/14/04 4 Restore or Provide for Cumulative S Against Against Voting Entergy Corp. ETR 29364G103 5/14/04 5 Prohibit Awards to Executives S Against Against Yum Brands, Inc. YUM 988498101 5/20/04 1.1 Elect Director Robert Holland, Jr. M For For Yum Brands, Inc. YUM 988498101 5/20/04 1.2 Elect Director David C. Novak M For For Yum Brands, Inc. YUM 988498101 5/20/04 1.3 Elect Director Jackie Trujillo M For For Yum Brands, Inc. YUM 988498101 5/20/04 2 Approve Executive Incentive Bonus M For For Plan Yum Brands, Inc. YUM 988498101 5/20/04 3 Ratify Auditors M For For Yum Brands, Inc. YUM 988498101 5/20/04 4 Adopt Smoke-Free Restaurant Policy S Against Against Yum Brands, Inc. YUM 988498101 5/20/04 5 Prepare a Sustainability Report S Against Against Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Yum Brands, Inc. YUM 988498101 5/20/04 6 Adopt MacBride Principles S Against Against Yum Brands, Inc. YUM 988498101 5/20/04 7 Report on Genetically Modified S Against Against Organisms (GMO) Yum Brands, Inc. YUM 988498101 5/20/04 8 Report on Animal Welfare Standards S Against Against CenturyTel, Inc. CTL 156700106 5/6/04 1.1 Elect Director William R. Boles, M For Withhold Jr. CenturyTel, Inc. CTL 156700106 5/6/04 1.2 Elect Director W. Bruce Hanks M For For CenturyTel, Inc. CTL 156700106 5/6/04 1.3 Elect Director C.G. Melville, Jr. M For For CenturyTel, Inc. CTL 156700106 5/6/04 1.4 Elect Director Glen F. Post, III M For For CenturyTel, Inc. CTL 156700106 5/6/04 2 Ratify Auditors M For For Mercury Interactive Corp. MERQ 589405109 5/19/04 1.1 Elect Director Amnon Landan M For For Mercury Interactive Corp. MERQ 589405109 5/19/04 1.2 Elect Director Igal Kohavi M For For Mercury Interactive Corp. MERQ 589405109 5/19/04 1.3 Elect Director Clyde Ostler M For For Mercury Interactive Corp. MERQ 589405109 5/19/04 1.4 Elect Director Yair Shamir M For For Mercury Interactive Corp. MERQ 589405109 5/19/04 1.5 Elect Director Giora Yaron M For For Mercury Interactive Corp. MERQ 589405109 5/19/04 1.6 Elect Director Anthony Zingale M For For Mercury Interactive Corp. MERQ 589405109 5/19/04 2 Increase Authorized Common Stock M For For Mercury Interactive Corp. MERQ 589405109 5/19/04 3 Ratify Auditors M For For Xerox Corp. XRX 984121103 5/20/04 1.1 Elect Director Glenn A. Britt M For Withhold Xerox Corp. XRX 984121103 5/20/04 1.2 Elect Director Richard J. M For Withhold Harrington Xerox Corp. XRX 984121103 5/20/04 1.3 Elect Director William Curt Hunter M For Withhold Xerox Corp. XRX 984121103 5/20/04 1.4 Elect Director Vernon E. Jordan, M For Withhold Jr. Xerox Corp. XRX 984121103 5/20/04 1.5 Elect Director Hilmar Kopper M For Withhold Xerox Corp. XRX 984121103 5/20/04 1.6 Elect Director Ralph S. Larsen M For Withhold Xerox Corp. XRX 984121103 5/20/04 1.7 Elect Director Anne M. Mulcahy M For Withhold Xerox Corp. XRX 984121103 5/20/04 1.8 Elect Director N.J. Nicholas, Jr. M For Withhold Xerox Corp. XRX 984121103 5/20/04 1.9 Elect Director John E. Pepper M For Withhold Xerox Corp. XRX 984121103 5/20/04 1.10 Elect Director Ann N. Reese M For Withhold Xerox Corp. XRX 984121103 5/20/04 1.11 Elect Director Stephen Robert M For Withhold Xerox Corp. XRX 984121103 5/20/04 2 Ratify Auditors M For For Xerox Corp. XRX 984121103 5/20/04 3 Approve Omnibus Stock Plan M For Against Xerox Corp. XRX 984121103 5/20/04 4 Approve Non-Employee Director M For For Omnibus Stock Plan Freeport-McMoRan Copper FCX 35671D857 5/6/04 1.1 Elect Director Robert J. Allison, M For For & Gold Inc. Jr. Freeport-McMoRan Copper FCX 35671D857 5/6/04 1.2 Elect Director R. Leigh Clifford M For Withhold & Gold Inc. Freeport-McMoRan Copper FCX 35671D857 5/6/04 1.3 Elect Director James R. Moffett M For For & Gold Inc. Freeport-McMoRan Copper FCX 35671D857 5/6/04 1.4 Elect Director B. M. Rankin, Jr. M For Withhold & Gold Inc. Freeport-McMoRan Copper FCX 35671D857 5/6/04 1.5 Elect Director J. Taylor Wharton M For For & Gold Inc. Freeport-McMoRan Copper FCX 35671D857 5/6/04 2 Ratify Auditors M For For & Gold Inc. Freeport-McMoRan Copper FCX 35671D857 5/6/04 3 Approve Non-Employee Director M For For & Gold Inc. Omnibus Stock Plan Freeport-McMoRan Copper FCX 35671D857 5/6/04 4 Halt Payments to Indonesian S Against Against & Gold Inc. Military Liz Claiborne, Inc. LIZ 539320101 5/20/04 1.1 Elect Director Raul J. Fernandez M For For Liz Claiborne, Inc. LIZ 539320101 5/20/04 1.2 Elect Director Mary Kay Haben M For For Liz Claiborne, Inc. LIZ 539320101 5/20/04 1.3 Elect Director Kenneth P. Kopelman M For Withhold Liz Claiborne, Inc. LIZ 539320101 5/20/04 1.4 Elect Director Arthur C. Martinez M For For Liz Claiborne, Inc. LIZ 539320101 5/20/04 2 Ratify Auditors M For For The Timberland Co. TBL 887100105 5/20/04 1.1 Fix Number of and Elect Director M For Withhold Sidney W. Swartz The Timberland Co. TBL 887100105 5/20/04 1.2 Elect Director Jeffrey B. Swartz M For Withhold The Timberland Co. TBL 887100105 5/20/04 1.3 Elect Director John E. Beard M For Withhold The Timberland Co. TBL 887100105 5/20/04 1.4 Elect Director John F. Brennan M For Withhold The Timberland Co. TBL 887100105 5/20/04 1.5 Elect Director Ian W. Diery M For Withhold The Timberland Co. TBL 887100105 5/20/04 1.6 Elect Director Irene M. Esteves M For Withhold The Timberland Co. TBL 887100105 5/20/04 1.7 Elect Director John A. Fitzsimmons M For Withhold The Timberland Co. TBL 887100105 5/20/04 1.8 Elect Director Virginia H. Kent M For Withhold The Timberland Co. TBL 887100105 5/20/04 1.9 Elect Director Bill Shore M For Withhold UnitedHealth Group UNH 91324P102 5/12/04 1.1 Elect Director William C. Ballard, M For Withhold Incorporated Jr. UnitedHealth Group UNH 91324P102 5/12/04 1.2 Elect Director Richard T. Burke M For Withhold Incorporated UnitedHealth Group UNH 91324P102 5/12/04 1.3 Elect Director Stephen J. Hemsle M For Withhold Incorporated UnitedHealth Group UNH 91324P102 5/12/04 1.4 Elect Director Donna E. Shalala M For Withhold Incorporated Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ UnitedHealth Group UNH 91324P102 5/12/04 2 Ratify Auditors M For For Incorporated UnitedHealth Group UNH 91324P102 5/12/04 3 Expense Stock Options S Against Against Incorporated UnitedHealth Group UNH 91324P102 5/12/04 4 Limit Awards to Executives S Against Against Incorporated L-3 Communications LLL 502424104 4/27/04 1.1 Elect Director Claude R. Canizares M For For Holdings, Inc. L-3 Communications LLL 502424104 4/27/04 1.2 Elect Director Thomas A. Corcoran M For For Holdings, Inc. L-3 Communications LLL 502424104 4/27/04 1.3 Elect Director Alan H. Washkowitz M For For Holdings, Inc. L-3 Communications LLL 502424104 4/27/04 2 Ratify Auditors M For For Holdings, Inc. L-3 Communications LLL 502424104 4/27/04 3 Amend Omnibus Stock Plan M For Against Holdings, Inc. L-3 Communications LLL 502424104 4/27/04 4 Amend Omnibus Stock Plan M For For Holdings, Inc. Getty Images, Inc. GYI 374276103 5/17/04 1.1 Elect Director James N. Bailey M For For Getty Images, Inc. GYI 374276103 5/17/04 1.2 Elect Director Andrew S. Garb M For For Getty Images, Inc. GYI 374276103 5/17/04 1.3 Elect Director David Landau M For For Getty Images, Inc. GYI 374276103 5/17/04 2 Ratify Auditors M For For Time Warner Inc TWX 887317105 5/21/04 1.1 Elect Director James L. Barksdale M For For Time Warner Inc TWX 887317105 5/21/04 1.2 Elect Director Stephen F. M For For Bollenbach Time Warner Inc TWX 887317105 5/21/04 1.3 Elect Director Stephen M. Case M For For Time Warner Inc TWX 887317105 5/21/04 1.4 Elect Director Frank J. Caufield M For For Time Warner Inc TWX 887317105 5/21/04 1.5 Elect Director Robert C. Clark M For For Time Warner Inc TWX 887317105 5/21/04 1.6 Elect Director Miles R. Gilburne M For For Time Warner Inc TWX 887317105 5/21/04 1.7 Elect Director Carla A. Hills M For For Time Warner Inc TWX 887317105 5/21/04 1.8 Elect Director Reuben Mark M For For Time Warner Inc TWX 887317105 5/21/04 1.9 Elect Director Michael A. Miles M For For Time Warner Inc TWX 887317105 5/21/04 1.10 Elect Director Kenneth J. Novack M For For Time Warner Inc TWX 887317105 5/21/04 1.11 Elect Director Richard D. Parsons M For For Time Warner Inc TWX 887317105 5/21/04 1.12 Elect Director R. E. Turner M For For Time Warner Inc TWX 887317105 5/21/04 1.13 Elect Director Francis T. Vincent, M For For Jr. Time Warner Inc TWX 887317105 5/21/04 2 Ratify Auditors M For For Time Warner Inc TWX 887317105 5/21/04 3 Adopt China Principles S Against Against Time Warner Inc TWX 887317105 5/21/04 4 Report on Pay Disparity S Against Against Intersil Corporation ISIL 46069S109 5/12/04 1.1 Elect Director Gregory L. Williams M For For Intersil Corporation ISIL 46069S109 5/12/04 1.2 Elect Director Richard M. Beyer M For For Intersil Corporation ISIL 46069S109 5/12/04 1.3 Elect Director Dr. Robert W. Conn M For For Intersil Corporation ISIL 46069S109 5/12/04 1.4 Elect Director James V. Diller M For For Intersil Corporation ISIL 46069S109 5/12/04 1.5 Elect Director Gary E. Gist M For For Intersil Corporation ISIL 46069S109 5/12/04 1.6 Elect Director Jan Peeters M For For Intersil Corporation ISIL 46069S109 5/12/04 1.7 Elect Director Robert N. M For For Pokelwaldt Intersil Corporation ISIL 46069S109 5/12/04 1.8 Elect Director James A. Urry M For For Intersil Corporation ISIL 46069S109 5/12/04 2 Ratify Auditors M For For Intersil Corporation ISIL 46069S109 5/12/04 3 Amend Omnibus Stock Plan M For Against Amgen, Inc. AMGN 031162100 5/13/04 1.1 Elect Director Frank J. Biondi, Jr. M For For Amgen, Inc. AMGN 031162100 5/13/04 1.2 Elect Director Jerry D. Choate M For For Amgen, Inc. AMGN 031162100 5/13/04 1.3 Elect Director Frank C. Herringer M For For Amgen, Inc. AMGN 031162100 5/13/04 1.4 Elect Director Gilbert S. Omenn M For For Amgen, Inc. AMGN 031162100 5/13/04 2 Ratify Auditors M For For Amgen, Inc. AMGN 031162100 5/13/04 3 Prepare Glass Ceiling Report S Against Against Amgen, Inc. AMGN 031162100 5/13/04 4 Expense Stock Options S Against Against Altera Corp. ALTR 021441100 5/11/04 1.1 Elect Director John P. Daane M For For Altera Corp. ALTR 021441100 5/11/04 1.2 Elect Director Robert W. Reed M For For Altera Corp. ALTR 021441100 5/11/04 1.3 Elect Director Charles M. Clough M For For Altera Corp. ALTR 021441100 5/11/04 1.4 Elect Director Robert J. Finocchio M For For Jr Altera Corp. ALTR 021441100 5/11/04 1.5 Elect Director Kevin Mcgarity M For For Altera Corp. ALTR 021441100 5/11/04 1.6 Elect Director Paul Newhagen M For For Altera Corp. ALTR 021441100 5/11/04 1.7 Elect Director William E. Terry M For For Altera Corp. ALTR 021441100 5/11/04 1.8 Elect Director Susan Wang M For For Altera Corp. ALTR 021441100 5/11/04 2 Amend Stock Option Plan M For Against Altera Corp. ALTR 021441100 5/11/04 3 Amend Employee Stock Purchase Plan M For For Altera Corp. ALTR 021441100 5/11/04 4 Ratify Auditors M For For Altera Corp. ALTR 021441100 5/11/04 5 Approve Option Expensing S Against Against Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ American International AIG 026874107 5/19/04 1.1 Elect Director M. Bernard Aidinoff M For For Group, Inc. American International AIG 026874107 5/19/04 1.2 Elect Director Pei-Yuan Chia M For For Group, Inc. American International AIG 026874107 5/19/04 1.3 Elect Director Marshall A. Cohen M For For Group, Inc. American International AIG 026874107 5/19/04 1.4 Elect Director Willaim S. Cohen M For For Group, Inc. American International AIG 026874107 5/19/04 1.5 Elect Director Martin S. Feldstein M For For Group, Inc. American International AIG 026874107 5/19/04 1.6 Elect Director Ellen V. Futter M For For Group, Inc. American International AIG 026874107 5/19/04 1.7 Elect Director Maurice R. Greenberg M For For Group, Inc. American International AIG 026874107 5/19/04 1.8 Elect Director Carla A. Hills M For For Group, Inc. American International AIG 026874107 5/19/04 1.9 Elect Director Frank J. Hoenemeyer M For For Group, Inc. American International AIG 026874107 5/19/04 1.10 Elect Director Richard C. Holbrooke M For For Group, Inc. American International AIG 026874107 5/19/04 1.11 Elect Director Donald P. Kanak M For For Group, Inc. American International AIG 026874107 5/19/04 1.12 Elect Director Howard I. Smith M For For Group, Inc. American International AIG 026874107 5/19/04 1.13 Elect Director Martin J. Sullivan M For For Group, Inc. American International AIG 026874107 5/19/04 1.14 Elect Director Edmund S.W. Tse M For For Group, Inc. American International AIG 026874107 5/19/04 1.15 Elect Director Frank G. Zarb M For For Group, Inc. American International AIG 026874107 5/19/04 2 Approve Executive Incentive Bonus M For For Group, Inc. Plan American International AIG 026874107 5/19/04 3 Approve Non-Employee Director M For For Group, Inc. Stock Option Plan American International AIG 026874107 5/19/04 4 Ratify Auditors M For For Group, Inc. American International AIG 026874107 5/19/04 5 Report on Political S Against Against Group, Inc. Contributions/Activities American International AIG 026874107 5/19/04 6 Divest from Tobacco Equities S Against Against Group, Inc. American International AIG 026874107 5/19/04 7 Link Executive Compensation to S Against Against Group, Inc. Predatory Lending Manor Care, Inc. HCR 564055101 5/5/04 1.1 Elect Director Virgis W. Colbert M For For Manor Care, Inc. HCR 564055101 5/5/04 1.2 Elect Director William H. Longfield M For For Manor Care, Inc. HCR 564055101 5/5/04 1.3 Elect Director Paul A. Ormond M For For Manor Care, Inc. HCR 564055101 5/5/04 2 Amend Omnibus Stock Plan M For For Manor Care, Inc. HCR 564055101 5/5/04 3 Declassify the Board of Directors M For For Manor Care, Inc. HCR 564055101 5/5/04 4 Ratify Auditors M For For Manor Care, Inc. HCR 564055101 5/5/04 5 Limit Executive Compensation S Against Against SunGard Data Systems Inc. SDS 867363103 5/14/04 1.1 Elect Director Gregory S. Bentley M For For SunGard Data Systems Inc. SDS 867363103 5/14/04 1.2 Elect Director Michael C. Brooks M For For SunGard Data Systems Inc. SDS 867363103 5/14/04 1.3 Elect Director Cristobal Conde M For For SunGard Data Systems Inc. SDS 867363103 5/14/04 1.4 Elect Director Ramon de Oliveira M For For SunGard Data Systems Inc. SDS 867363103 5/14/04 1.5 Elect Director Henry C. Duques M For For SunGard Data Systems Inc. SDS 867363103 5/14/04 1.6 Elect Director Albert A. Eisenstat M For For SunGard Data Systems Inc. SDS 867363103 5/14/04 1.7 Elect Director Bernard Goldstein M For For SunGard Data Systems Inc. SDS 867363103 5/14/04 1.8 Elect Director Janet Brutschea M For For Haugen SunGard Data Systems Inc. SDS 867363103 5/14/04 1.9 Elect Director James L. Mann M For For SunGard Data Systems Inc. SDS 867363103 5/14/04 1.10 Elect Director Malcolm I. Ruddock M For For SunGard Data Systems Inc. SDS 867363103 5/14/04 2 Ratify Auditors M For For Radioshack Corp. RSH 750438103 5/20/04 1.1 Elect Director Frank J. Belatti M For For Radioshack Corp. RSH 750438103 5/20/04 1.2 Elect Director Ronald E. Elmquist M For For Radioshack Corp. RSH 750438103 5/20/04 1.3 Elect Director Robert S. Falcone M For For Radioshack Corp. RSH 750438103 5/20/04 1.4 Elect Director Daniel R. Feehan M For For Radioshack Corp. RSH 750438103 5/20/04 1.5 Elect Director Richard J. Hernandez M For For Radioshack Corp. RSH 750438103 5/20/04 1.6 Elect Director Lawrence V. Jackson M For Withhold Radioshack Corp. RSH 750438103 5/20/04 1.7 Elect Director Robert J. Kamerschen M For For Radioshack Corp. RSH 750438103 5/20/04 1.8 Elect Director H. Eugene Lockhart M For For Radioshack Corp. RSH 750438103 5/20/04 1.9 Elect Director Jack L. Messman M For For Radioshack Corp. RSH 750438103 5/20/04 1.10 Elect Director William G. Morton, M For For Jr. Radioshack Corp. RSH 750438103 5/20/04 1.11 Elect Director Thomas G. Plaskett M For For Radioshack Corp. RSH 750438103 5/20/04 1.12 Elect Director Leonard H. Roberts M For For Radioshack Corp. RSH 750438103 5/20/04 1.13 Elect Director Edwina D. Woodbury M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Radioshack Corp. RSH 750438103 5/20/04 2 Approve Deferred Compensation Plan M For For Radioshack Corp. RSH 750438103 5/20/04 3 Approve Executive Incentive Bonus M For Against Plan Boston Scientific Corp. BSX 101137107 5/11/04 1.1 Elect Director Ursula M. Burns M For For Boston Scientific Corp. BSX 101137107 5/11/04 1.2 Elect Director Marye Anne Fox M For For Boston Scientific Corp. BSX 101137107 5/11/04 1.3 Elect Director N.J. Nicholas, Jr. M For For Boston Scientific Corp. BSX 101137107 5/11/04 1.4 Elect Director John E. Pepper M For For Boston Scientific Corp. BSX 101137107 5/11/04 2 Ratify Auditors M For For Mattel, Inc. MAT 577081102 5/13/04 1.1 Elect Director Eugene P. Beard M For For Mattel, Inc. MAT 577081102 5/13/04 1.2 Elect Director Michael J. Dolan M For For Mattel, Inc. MAT 577081102 5/13/04 1.3 Elect Director Robert A. Eckert M For For Mattel, Inc. MAT 577081102 5/13/04 1.4 Elect Director Tully M. Friedman M For For Mattel, Inc. MAT 577081102 5/13/04 1.5 Elect Director Ronald M. Loeb M For For Mattel, Inc. MAT 577081102 5/13/04 1.6 Elect Director Andrea L. Rich M For For Mattel, Inc. MAT 577081102 5/13/04 1.7 Elect Director Ronald L. Sargent M For For Mattel, Inc. MAT 577081102 5/13/04 1.8 Elect Director Christopher A. M For For Sinclair Mattel, Inc. MAT 577081102 5/13/04 1.9 Elect Director G. Craig Sullivan M For For Mattel, Inc. MAT 577081102 5/13/04 1.10 Elect Director John L. Vogelstein M For For Mattel, Inc. MAT 577081102 5/13/04 1.11 Elect Director Kathy Brittain White M For For Mattel, Inc. MAT 577081102 5/13/04 2 Ratify Auditors M For For Mattel, Inc. MAT 577081102 5/13/04 3 Limit Awards to Executives S Against Against Mattel, Inc. MAT 577081102 5/13/04 4 Prohibit Auditor from Providing S Against Against Non-Audit Services Caremark Rx, Inc. CMX 141705103 5/4/04 1.1 Elect Director Edwin M. Banks M For For Caremark Rx, Inc. CMX 141705103 5/4/04 1.2 Elect Director Colleen C. Welch, M For For Ph.D. Caremark Rx, Inc. CMX 141705103 5/4/04 1.3 Elect Director Roger L. Headrick M For For Caremark Rx, Inc. CMX 141705103 5/4/04 1.4 Elect Director Jean-Pierre Millon M For For St. Jude Medical, Inc. STJ 790849103 5/12/04 1.1 Elect Director Michael A. Rocca M For For St. Jude Medical, Inc. STJ 790849103 5/12/04 1.2 Elect Director David A. Thompson M For For St. Jude Medical, Inc. STJ 790849103 5/12/04 1.3 Elect Director Stefan K. M For For Widensohler St. Jude Medical, Inc. STJ 790849103 5/12/04 2 Ratify Auditors M For For St. Jude Medical, Inc. STJ 790849103 5/12/04 3 Approve Executive Incentive Bonus M For For Plan St. Jude Medical, Inc. STJ 790849103 5/12/04 4 Increase Authorized Common Stock M For For St. Jude Medical, Inc. STJ 790849103 5/12/04 5 Limit Executive Compensation S Against Against Home Depot, Inc. (The) HD 437076102 5/27/04 1.1 Elect Director Gregory D. Brenneman M For For Home Depot, Inc. (The) HD 437076102 5/27/04 1.2 Elect Director Richard H. Brown M For For Home Depot, Inc. (The) HD 437076102 5/27/04 1.3 Elect Director John L. Clendenin M For For Home Depot, Inc. (The) HD 437076102 5/27/04 1.4 Elect Director Berry R. Cox M For For Home Depot, Inc. (The) HD 437076102 5/27/04 1.5 Elect Director Claudio X. Gonzalez M For Withhold Home Depot, Inc. (The) HD 437076102 5/27/04 1.6 Elect Director Milledge A. Hart, M For For III Home Depot, Inc. (The) HD 437076102 5/27/04 1.7 Elect Director Bonnie G. Hill M For For Home Depot, Inc. (The) HD 437076102 5/27/04 1.8 Elect Director Kenneth G. Langone M For For Home Depot, Inc. (The) HD 437076102 5/27/04 1.9 Elect Director Robert L. Nardelli M For For Home Depot, Inc. (The) HD 437076102 5/27/04 1.10 Elect Director Roger S. Penske M For For Home Depot, Inc. (The) HD 437076102 5/27/04 2 Ratify Auditors M For For Home Depot, Inc. (The) HD 437076102 5/27/04 3 Establish Term Limits for Directors S Against Against Home Depot, Inc. (The) HD 437076102 5/27/04 4 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote Home Depot, Inc. (The) HD 437076102 5/27/04 5 Performance- Based/Indexed Options S Against Against Home Depot, Inc. (The) HD 437076102 5/27/04 6 Adopt ILO Based Code of Conduct S Against Against Home Depot, Inc. (The) HD 437076102 5/27/04 7 Submit Severance Agreement S Against For (Change-in-Control) to Shareholder Vote Home Depot, Inc. (The) HD 437076102 5/27/04 8 Require Affirmative Vote of the S Against Against Majority of the Shares to Elect Directors Masco Corp. MAS 574599106 5/11/04 1.1 Elect Director Peter A. Dow M For For Masco Corp. MAS 574599106 5/11/04 1.2 Elect Director Anthony F. Earley, M For For Jr. Masco Corp. MAS 574599106 5/11/04 1.3 Elect Director Wayne B. Lyon M For For Masco Corp. MAS 574599106 5/11/04 1.4 Elect Director David L. Johnston M For For Masco Corp. MAS 574599106 5/11/04 1.5 Elect Director J. Michael Losh M For For Masco Corp. MAS 574599106 5/11/04 2 Approve Executive Incentive Bonus M For For Plan Masco Corp. MAS 574599106 5/11/04 3 Ratify Auditors M For For Williams-Sonoma, Inc. WSM 969904101 5/19/04 1.1 Elect Director W. Howard Lester M For For Williams-Sonoma, Inc. WSM 969904101 5/19/04 1.2 Elect Director Edward A. Mueller M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Williams-Sonoma, Inc. WSM 969904101 5/19/04 1.3 Elect Director Sanjiv Ahuja M For For Williams-Sonoma, Inc. WSM 969904101 5/19/04 1.4 Elect Director Adrian D.P. Bellamy M For For Williams-Sonoma, Inc. WSM 969904101 5/19/04 1.5 Elect Director Patrick J. Connolly M For For Williams-Sonoma, Inc. WSM 969904101 5/19/04 1.6 Elect Director Jeanne P. Jackson M For For Williams-Sonoma, Inc. WSM 969904101 5/19/04 1.7 Elect Director Michael R. Lynch M For For Williams-Sonoma, Inc. WSM 969904101 5/19/04 1.8 Elect Director Richard T. Robertson M For For Williams-Sonoma, Inc. WSM 969904101 5/19/04 2 Amend Stock Option Plan M For For Williams-Sonoma, Inc. WSM 969904101 5/19/04 3 Ratify Auditors M For For Edison International EIX 281020107 5/20/04 1.1 Elect Director John E. Bryson M For For Edison International EIX 281020107 5/20/04 1.2 Elect Director France A. Cordova M For For Edison International EIX 281020107 5/20/04 1.3 Elect Director Bradford M. Freeman M For For Edison International EIX 281020107 5/20/04 1.4 Elect Director Bruce Karatz M For For Edison International EIX 281020107 5/20/04 1.5 Elect Director Luis G. Nogales M For For Edison International EIX 281020107 5/20/04 1.6 Elect Director Ronald L. Olson M For Withhold Edison International EIX 281020107 5/20/04 1.7 Elect Director James M. Rosser M For For Edison International EIX 281020107 5/20/04 1.8 Elect Director Richard T. M For For Schlosberg, III Edison International EIX 281020107 5/20/04 1.9 Elect Director Robert H. Smith M For For Edison International EIX 281020107 5/20/04 1.10 Elect Director Thomas C. Sutton M For For Edison International EIX 281020107 5/20/04 2 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote Southwest Airlines Co. LUV 844741108 5/19/04 1.1 Elect Director Herbert D. Kelleher M For Withhold Southwest Airlines Co. LUV 844741108 5/19/04 1.2 Elect Director Rollin W. King M For Withhold Southwest Airlines Co. LUV 844741108 5/19/04 1.3 Elect Director June M. Morris M For Withhold Southwest Airlines Co. LUV 844741108 5/19/04 1.4 Elect Director C. Webb Crockett M For Withhold Southwest Airlines Co. LUV 844741108 5/19/04 1.5 Elect Director William P. Hobby M For Withhold Southwest Airlines Co. LUV 844741108 5/19/04 1.6 Elect Director Travis C. Johnson M For Withhold Southwest Airlines Co. LUV 844741108 5/19/04 2 Ratify Auditors M For For Anthem Inc. ATH 03674B104 5/17/04 1.1 Elect Director Victor S. Liss M For For Anthem Inc. ATH 03674B104 5/17/04 1.2 Elect Director James W. McDowell, M For For Jr. Anthem Inc. ATH 03674B104 5/17/04 1.3 Elect Director George A. Schaefer, M For For Jr. Anthem Inc. ATH 03674B104 5/17/04 1.4 Elect Director Jackie M. Ward M For For Advance Auto Parts Inc AAP 00751Y106 5/19/04 1.1 Elect Director Lawrence P. M For For Castellani Advance Auto Parts Inc AAP 00751Y106 5/19/04 1.2 Elect Director John C. Brouillard M For For Advance Auto Parts Inc AAP 00751Y106 5/19/04 1.3 Elect Director Gilbert T. Ray M For For Advance Auto Parts Inc AAP 00751Y106 5/19/04 1.4 Elect Director John M. Roth M For For Advance Auto Parts Inc AAP 00751Y106 5/19/04 1.5 Elect Director Carlos A. Saladrigas M For For Advance Auto Parts Inc AAP 00751Y106 5/19/04 1.6 Elect Director William L. Salter M For For Advance Auto Parts Inc AAP 00751Y106 5/19/04 1.7 Elect Director Francesca Spinelli M For For Advance Auto Parts Inc AAP 00751Y106 5/19/04 1.8 Elect Director Nicholas F. Taubman M For For Advance Auto Parts Inc AAP 00751Y106 5/19/04 2 Increase Authorized Common Stock M For For Advance Auto Parts Inc AAP 00751Y106 5/19/04 3 Approve Omnibus Stock Plan M For For Advance Auto Parts Inc AAP 00751Y106 5/19/04 4 Ratify Auditors M For For Yahoo!, Inc. YHOO 984332106 5/21/04 1.1 Elect Director Terry S. Semel M For For Yahoo!, Inc. YHOO 984332106 5/21/04 1.2 Elect Director Jerry Yang M For For Yahoo!, Inc. YHOO 984332106 5/21/04 1.3 Elect Director Roy J. Bostock M For For Yahoo!, Inc. YHOO 984332106 5/21/04 1.4 Elect Director Ronald W. Burkle M For For Yahoo!, Inc. YHOO 984332106 5/21/04 1.5 Elect Director Eric Hippeau M For For Yahoo!, Inc. YHOO 984332106 5/21/04 1.6 Elect Director Arthur H. Kern M For For Yahoo!, Inc. YHOO 984332106 5/21/04 1.7 Elect Director Robert A. Kotick M For For Yahoo!, Inc. YHOO 984332106 5/21/04 1.8 Elect Director Edward R. Kozel M For For Yahoo!, Inc. YHOO 984332106 5/21/04 1.9 Elect Director Gary L. Wilson M For For Yahoo!, Inc. YHOO 984332106 5/21/04 2 Amend Employee Stock Purchase Plan M For For Yahoo!, Inc. YHOO 984332106 5/21/04 3 Ratify Auditors M For For Yahoo!, Inc. YHOO 984332106 5/21/04 4 Expense Stock Options S Against Against Dean Foods Company DF 242370104 5/18/04 1.1 Elect Director Alan J. Bernon M For Withhold Dean Foods Company DF 242370104 5/18/04 1.2 Elect Director Gregg L. Engles M For Withhold Dean Foods Company DF 242370104 5/18/04 1.3 Elect Director Joseph S. Hardin, M For Withhold Jr. Dean Foods Company DF 242370104 5/18/04 1.4 Elect Director Ronald Kirk M For Withhold Dean Foods Company DF 242370104 5/18/04 1.5 Elect Director John S. Llewellyn, M For Withhold Jr. Dean Foods Company DF 242370104 5/18/04 2 Ratify Auditors M For For Career Education Corp. CECO 141665109 5/21/04 1.1 Elect Director Thomas B. Lally M For For Career Education Corp. CECO 141665109 5/21/04 1.2 Elect Director John M. Larson M For For Career Education Corp. CECO 141665109 5/21/04 2 Amend Omnibus Stock Plan M For Against Career Education Corp. CECO 141665109 5/21/04 3 Increase Authorized Common Stock M For For Career Education Corp. CECO 141665109 5/21/04 4 Ratify Auditors M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.1 Elect Director James W. Breyer M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.2 Elect Director M. Michele Burns M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.3 Elect Director Thomas M. Coughlin M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.4 Elect Director David D. Glass M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.5 Elect Director Roland A. Hernandez M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.6 Elect Director Dawn G. Lepore M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.7 Elect Director John D. Opie M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.8 Elect Director J. Paul Reason M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.9 Elect Director H. Lee Scott, Jr. M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.10 Elect Director Jack C. Shewmaker M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.11 Elect Director Jose H. Villarreal M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.12 Elect Director John T. Walton M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.13 Elect Director S. Robson Walton M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.14 Elect Director Christopher J. M For For Williams Wal-Mart Stores, Inc. WMT 931142103 6/4/04 2 Approve Stock Option Plan M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 3 Approve Stock Option Plan M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 4 Amend Employee Stock Purchase Plan M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 5 Ratify Auditors M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 6 Separate Chairman and CEO Positions S Against Against Wal-Mart Stores, Inc. WMT 931142103 6/4/04 7 Prepare Sustainability Report S Against Against Wal-Mart Stores, Inc. WMT 931142103 6/4/04 8 Report on Stock Option Distribution S Against Against by Race and Gender Wal-Mart Stores, Inc. WMT 931142103 6/4/04 9 Report on Genetically Modified S Against Against Organisms (GMO) Wal-Mart Stores, Inc. WMT 931142103 6/4/04 10 Prepare Diversity Report S Against Against Wal-Mart Stores, Inc. WMT 931142103 6/4/04 11 Submit Executive Compensation to S Against Against Vote Federated Department FD 31410H101 5/21/04 1.1 Elect Director Sara Levinson M For Withhold Stores, Inc. Federated Department FD 31410H101 5/21/04 1.2 Elect Director Joseph Neubauer M For Withhold Stores, Inc. Federated Department FD 31410H101 5/21/04 1.3 Elect Director Joseph A. Pichler M For Withhold Stores, Inc. Federated Department FD 31410H101 5/21/04 1.4 Elect Director Karl M. von der M For Withhold Stores, Inc. Heyden Federated Department FD 31410H101 5/21/04 2 Ratify Auditors M For For Stores, Inc. Federated Department FD 31410H101 5/21/04 3 Amend Omnibus Stock Plan M For For Stores, Inc. Federated Department FD 31410H101 5/21/04 4 Declassify the Board of Directors S Against For Stores, Inc. Arrow Electronics, Inc. ARW 042735100 5/27/04 1.1 Elect Director Daniel W. Duval M For For Arrow Electronics, Inc. ARW 042735100 5/27/04 1.2 Elect Director John N. Hanson M For For Arrow Electronics, Inc. ARW 042735100 5/27/04 1.3 Elect Director Roger King M For For Arrow Electronics, Inc. ARW 042735100 5/27/04 1.4 Elect Director Karen Gordon Mills M For For Arrow Electronics, Inc. ARW 042735100 5/27/04 1.5 Elect Director William E. Mitchell M For For Arrow Electronics, Inc. ARW 042735100 5/27/04 1.6 Elect Director Stephen C. Patrick M For For Arrow Electronics, Inc. ARW 042735100 5/27/04 1.7 Elect Director Barry W. Perry M For For Arrow Electronics, Inc. ARW 042735100 5/27/04 1.8 Elect Director Richard S. M For For Rosenbloom Arrow Electronics, Inc. ARW 042735100 5/27/04 1.9 Elect Director John C. Waddell M For For Arrow Electronics, Inc. ARW 042735100 5/27/04 2 Approve Omnibus Stock Plan M For For Arrow Electronics, Inc. ARW 042735100 5/27/04 3 Ratify Auditors M For For Arrow Electronics, Inc. ARW 042735100 5/27/04 4 Other Business M For Against PMC-Sierra, Inc. PMCS 69344F106 5/14/04 1.1 Elect Director Robert Bailey M For For PMC-Sierra, Inc. PMCS 69344F106 5/14/04 1.2 Elect Director Alexandre Balkanski M For For PMC-Sierra, Inc. PMCS 69344F106 5/14/04 1.3 Elect Director Richard Belluzzo M For For PMC-Sierra, Inc. PMCS 69344F106 5/14/04 1.4 Elect Director James Diller M For For PMC-Sierra, Inc. PMCS 69344F106 5/14/04 1.5 Elect Director Jonathan Judge M For For PMC-Sierra, Inc. PMCS 69344F106 5/14/04 1.6 Elect Director William Kurtz M For For PMC-Sierra, Inc. PMCS 69344F106 5/14/04 1.7 Elect Director Frank Marshall M For For PMC-Sierra, Inc. PMCS 69344F106 5/14/04 1.8 Elect Director Lewis Wilks M For For PMC-Sierra, Inc. PMCS 69344F106 5/14/04 2 Ratify Auditors M For For Lowe LOW 548661107 5/28/04 1.1 Elect Director Leonard L. Berry M For For Lowe LOW 548661107 5/28/04 1.2 Elect Director Paul Fulton M For For Lowe LOW 548661107 5/28/04 1.3 Elect Director Dawn E. Hudson M For Withhold Lowe LOW 548661107 5/28/04 1.4 Elect Director Marshall O. Larsen M For For Lowe LOW 548661107 5/28/04 1.5 Elect Director Robert A. Niblock M For For Lowe LOW 548661107 5/28/04 1.6 Elect Director Stephen F. Page M For For Lowe LOW 548661107 5/28/04 1.7 Elect Director O. Temple Sloan, Jr. M For For Lowe LOW 548661107 5/28/04 1.8 Elect Director Robert L. Tillman M For For Lowe LOW 548661107 5/28/04 2 Ratify Auditors M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Gilead Sciences, Inc. GILD 375558103 5/25/04 1.1 Elect Director Paul Berg M For For Gilead Sciences, Inc. GILD 375558103 5/25/04 1.2 Elect Director Etienne F. Davignon M For For Gilead Sciences, Inc. GILD 375558103 5/25/04 1.3 Elect Director James M. Denny M For For Gilead Sciences, Inc. GILD 375558103 5/25/04 1.4 Elect Director John C. Martin M For For Gilead Sciences, Inc. GILD 375558103 5/25/04 1.5 Elect Director Gordon E. Moore M For For Gilead Sciences, Inc. GILD 375558103 5/25/04 1.6 Elect Director Nicholas G. Moore M For For Gilead Sciences, Inc. GILD 375558103 5/25/04 1.7 Elect Director George P. Shultz M For For Gilead Sciences, Inc. GILD 375558103 5/25/04 1.8 Elect Director Gayle E. Wilson M For For Gilead Sciences, Inc. GILD 375558103 5/25/04 2 Ratify Auditors M For For Gilead Sciences, Inc. GILD 375558103 5/25/04 3 Approve Omnibus Stock Plan M For For Gilead Sciences, Inc. GILD 375558103 5/25/04 4 Increase Authorized Common Stock M For For Universal Health UHS 913903100 5/19/04 1.1 Elect Director Robert H. Hotz M For For Services, Inc. Universal Health UHS 913903100 5/19/04 2 Amend Restricted Stock Plan M For For Services, Inc. Genzyme Corp. GENZ 372917104 5/27/04 1.1 Elect Director Douglas A. M For For Berthiaume Genzyme Corp. GENZ 372917104 5/27/04 1.2 Elect Director Henry E. Blair M For For Genzyme Corp. GENZ 372917104 5/27/04 1.3 Elect Director Gail K. Boudreaux M For For Genzyme Corp. GENZ 372917104 5/27/04 2 Amend Employee Stock Purchase Plan M For For Genzyme Corp. GENZ 372917104 5/27/04 3 Approve Stock Option Plan M For For Genzyme Corp. GENZ 372917104 5/27/04 4 Amend Non-Employee Director Stock M For For Option Plan Genzyme Corp. GENZ 372917104 5/27/04 5 Increase Authorized Preferred Stock M For Against Genzyme Corp. GENZ 372917104 5/27/04 6 Ratify Auditors M For For Genzyme Corp. GENZ 372917104 5/27/04 7 Limit Awards to Executives S Against Against Fannie Mae FNM 313586109 5/25/04 1.1 Elect Director Stephen B. Ashley M For For Fannie Mae FNM 313586109 5/25/04 1.2 Elect Director Kenneth M. M For Withhold Duberstein Fannie Mae FNM 313586109 5/25/04 1.3 Elect Director Thomas P. Gerrity M For For Fannie Mae FNM 313586109 5/25/04 1.4 Elect Director Timothy Howard M For For Fannie Mae FNM 313586109 5/25/04 1.5 Elect Director Ann Korologos M For For Fannie Mae FNM 313586109 5/25/04 1.6 Elect Director Frederic V. Malek M For For Fannie Mae FNM 313586109 5/25/04 1.7 Elect Director Donald B. Marron M For For Fannie Mae FNM 313586109 5/25/04 1.8 Elect Director Daniel H. Mudd M For For Fannie Mae FNM 313586109 5/25/04 1.9 Elect Director Anne M. Mulcahy M For For Fannie Mae FNM 313586109 5/25/04 1.10 Elect Director Joe K. Pickett M For For Fannie Mae FNM 313586109 5/25/04 1.11 Elect Director Leslie Rahl M For For Fannie Mae FNM 313586109 5/25/04 1.12 Elect Director Franklin D. Raines M For For Fannie Mae FNM 313586109 5/25/04 1.13 Elect Director H. Patrick Swygert M For For Fannie Mae FNM 313586109 5/25/04 2 Ratify Auditors M For For Fannie Mae FNM 313586109 5/25/04 3 Amend Employee Stock Purchase Plan M For For Fannie Mae FNM 313586109 5/25/04 4 Provide for Cumulative Voting S Against Against The TJX Companies, Inc. TJX 872540109 6/1/04 1.1 Elect Director Gary L. Crittenden M For For The TJX Companies, Inc. TJX 872540109 6/1/04 1.2 Elect Director Edmond J. English M For For The TJX Companies, Inc. TJX 872540109 6/1/04 1.3 Elect Director Richard G. Lesser M For For The TJX Companies, Inc. TJX 872540109 6/1/04 2 Amend Omnibus Stock Plan M For Against The TJX Companies, Inc. TJX 872540109 6/1/04 3 Implement ILO Based Code of Conduct S Against Against The TJX Companies, Inc. TJX 872540109 6/1/04 4 Report on Vendor Standards S Against Against The TJX Companies, Inc. TJX 872540109 6/1/04 5 Declassify the Board of Directors S Against For GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 1.1 Elect Director Ferdinand A. Berger M For Withhold (formerly Santa Fe International Corp) GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 1.2 Elect Director Khaled R. Al-Haroon M For Withhold (formerly Santa Fe International Corp) GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 1.3 Elect Director Edward R. Muller M For Withhold (formerly Santa Fe International Corp) GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 1.4 Elect Director Paul J. Powers M For Withhold (formerly Santa Fe International Corp) GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 1.5 Elect Director John L. Whitmire M For Withhold (formerly Santa Fe International Corp) GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 2 PROPOSAL TO APPROVE A SPECIAL M For For (formerly Santa Fe RESOLUTION TO AMEND THE COMPANY S International Corp) AMENDED AND RESTATED ARTICLES OF ASSOCIATION TO PERMIT TELEPHONIC AND INTERNET VOTING BY RECORD SHAREHOLDERS. Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 3 PROPOSAL TO APPROVE A SPECIAL M For For (formerly Santa Fe RESOLUTION TO AMEND THE COMPANY S International Corp) AMENDED AND RESTATED ARTICLES OF ASSOCIATION TO REMOVE THE LANGUAGE NO SHARE OWNERSHIP QUALIFICATION FOR DIRECTORS SHALL BE REQUIRED. GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 4 PROPOSAL TO RATIFY THE APPOINTMENT M For For (formerly Santa Fe OF PRICEWATERHOUSECOOPERS LLP AS THE International Corp) INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS OF THE COMPANY AND ITS SUBSIDIARIES FOR THE YEAR ENDING DECEMBER 31, 2004. Coventry Health Care Inc. CVH 222862104 6/3/04 1.1 Elect Director L. Dale Crandall M For For Coventry Health Care Inc. CVH 222862104 6/3/04 1.2 Elect Director Robert W. Morey M For For Coventry Health Care Inc. CVH 222862104 6/3/04 1.3 Elect Director Elizabeth E. Tallett M For For Coventry Health Care Inc. CVH 222862104 6/3/04 1.4 Elect Director Allen F. Wise M For For Coventry Health Care Inc. CVH 222862104 6/3/04 2 Approve Omnibus Stock Plan M For For Coventry Health Care Inc. CVH 222862104 6/3/04 3 Ratify Auditors M For For Polycom, Inc. PLCM 73172K104 6/2/04 1.1 Elect Director Betsy S. Atkins M For For Polycom, Inc. PLCM 73172K104 6/2/04 1.2 Elect Director John Seely Brown M For For Polycom, Inc. PLCM 73172K104 6/2/04 1.3 Elect Director Robert C. Hagerty M For For Polycom, Inc. PLCM 73172K104 6/2/04 1.4 Elect Director John A. Kelley, Jr. M For For Polycom, Inc. PLCM 73172K104 6/2/04 1.5 Elect Director Michael R. Kourey M For For Polycom, Inc. PLCM 73172K104 6/2/04 1.6 Elect Director Stanley J. Meresman M For For Polycom, Inc. PLCM 73172K104 6/2/04 1.7 Elect Director William A. Owens M For Withhold Polycom, Inc. PLCM 73172K104 6/2/04 1.8 Elect Director Durk I. Jager M For For Polycom, Inc. PLCM 73172K104 6/2/04 1.9 Elect Director Thomas G. Stemberg M For For Polycom, Inc. PLCM 73172K104 6/2/04 2 Approve Omnibus Stock Plan M For Against Polycom, Inc. PLCM 73172K104 6/2/04 3 Ratify Auditors M For For Rent-A-Center, Inc. RCII 76009N100 5/19/04 1.1 Elect Director Mitchell E. Fadel M For For Rent-A-Center, Inc. RCII 76009N100 5/19/04 1.2 Elect Director Peter P. Copses M For For Rent-A-Center, Inc. RCII 76009N100 5/19/04 1.3 Elect Director Mary Elizabeth M For For Burton Rent-A-Center, Inc. RCII 76009N100 5/19/04 2 Increase Authorized Common Stock M For For SEI Investment Company SEIC 784117103 5/25/04 1.1 Elect Director Alfred P. West, Jr. M For Withhold SEI Investment Company SEIC 784117103 5/25/04 1.2 Elect Director William M. Doran M For Withhold SEI Investment Company SEIC 784117103 5/25/04 1.3 Elect Director Howard D. Ross M For Withhold SEI Investment Company SEIC 784117103 5/25/04 1.4 Elect Director Thomas W. Smith M For Withhold SEI Investment Company SEIC 784117103 5/25/04 2 Ratify Auditors M For For PETsMART PETM 716768106 6/10/04 1.1 Elect Director Barbara A. Munder M For For PETsMART PETM 716768106 6/10/04 1.2 Elect Director Thomas G. Stemberg M For For PETsMART PETM 716768106 6/10/04 1.3 Elect Director Nancy J. Pedot M For For PETsMART PETM 716768106 6/10/04 1.4 Elect Director Jeffery W. Yabuki M For For PETsMART PETM 716768106 6/10/04 1.5 Elect Director Rita V. Foley M For For PETsMART PETM 716768106 6/10/04 2 Ratify Auditors M For For Iron Mountain Inc. IRM 462846106 5/27/04 1.1 Elect Director Clarke H. Bailey M For For Iron Mountain Inc. IRM 462846106 5/27/04 1.2 Elect Director Constantin R. Boden M For For Iron Mountain Inc. IRM 462846106 5/27/04 1.3 Elect Director Kent P. Dauten M For For Iron Mountain Inc. IRM 462846106 5/27/04 1.4 Elect Director B. Thomas Golisano M For For Iron Mountain Inc. IRM 462846106 5/27/04 1.5 Elect Director John F. Kenny, Jr. M For For Iron Mountain Inc. IRM 462846106 5/27/04 1.6 Elect Director Arthur D. Little M For For Iron Mountain Inc. IRM 462846106 5/27/04 1.7 Elect Director C. Richard Reese M For For Iron Mountain Inc. IRM 462846106 5/27/04 1.8 Elect Director Vincent J. Ryan M For For Iron Mountain Inc. IRM 462846106 5/27/04 2 Increase Authorized Common Stock M For For Iron Mountain Inc. IRM 462846106 5/27/04 3 Amend Omnibus Stock Plan M For Against Omnicom Group Inc. OMC 681919106 5/25/04 1.1 Elect Director John D. Wren M For For Omnicom Group Inc. OMC 681919106 5/25/04 1.2 Elect Director Bruce Crawford M For For Omnicom Group Inc. OMC 681919106 5/25/04 1.3 Elect Director Robert Charles Clark M For For Omnicom Group Inc. OMC 681919106 5/25/04 1.4 Elect Director Leonard S. Coleman, M For For Jr. Omnicom Group Inc. OMC 681919106 5/25/04 1.5 Elect Director Errol M. Cook M For For Omnicom Group Inc. OMC 681919106 5/25/04 1.6 Elect Director Susan S. Denison M For For Omnicom Group Inc. OMC 681919106 5/25/04 1.7 Elect Director Michael A. Henning M For For Omnicom Group Inc. OMC 681919106 5/25/04 1.8 Elect Director John R. Murphy M For For Omnicom Group Inc. OMC 681919106 5/25/04 1.9 Elect Director John R. Purcell M For For Omnicom Group Inc. OMC 681919106 5/25/04 1.10 Elect Director Linda Johnson Rice M For For Omnicom Group Inc. OMC 681919106 5/25/04 1.11 Elect Director Gary L. Roubos M For For Omnicom Group Inc. OMC 681919106 5/25/04 2 Ratify Auditors M For For Omnicom Group Inc. OMC 681919106 5/25/04 3 Approve Non-Employee Director Stock M For For Option Plan Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Liberty Media Corp. L 530718105 6/9/04 1.1 Elect Director Robert R. Bennett M For For Liberty Media Corp. L 530718105 6/9/04 1.2 Elect Director Paul A. Gould M For For Liberty Media Corp. L 530718105 6/9/04 1.3 Elect Director John C. Malone M For For Liberty Media Corp. L 530718105 6/9/04 2 Amend Executive Incentive Bonus M For For Plan Liberty Media Corp. L 530718105 6/9/04 3 Ratify Auditors M For For Royal Caribbean Cruises RCL V7780T103 5/25/04 1.1 Elect Director Tor B. Arneberg M For Against Ltd. Royal Caribbean Cruises RCL V7780T103 5/25/04 1.2 Elect Director William L. Kimsey M For Against Ltd. Royal Caribbean Cruises RCL V7780T103 5/25/04 1.3 Elect Director Gert W. Munthe M For Against Ltd. Royal Caribbean Cruises RCL V7780T103 5/25/04 1.4 Elect Director Thomas J. Pritzker M For Against Ltd. Royal Caribbean Cruises RCL V7780T103 5/25/04 2 APPROVAL OF THE AMENDED AND M For For Ltd. RESTATED 2000 STOCK AWARD PLAN. Royal Caribbean Cruises RCL V7780T103 5/25/04 3 RATIFICATION OF APPOINTMENT OF M For For Ltd. PRICEWATERHOUSECOOPERS LLP AS THE COMPANY S INDEPENDENT ACCOUNTANTS FOR 2004. Cadence Design Systems, CDN 127387108 6/15/04 1.1 Elect Director H. Raymond Bingham M For For Inc. Cadence Design Systems, CDN 127387108 6/15/04 1.2 Elect Director Susan L. Bostrom M For For Inc. Cadence Design Systems, CDN 127387108 6/15/04 1.3 Elect Director Donald L. Lucas M For For Inc. Cadence Design Systems, CDN 127387108 6/15/04 1.4 Elect Director Sean M. Maloney M For Withhold Inc. Cadence Design Systems, CDN 127387108 6/15/04 1.5 Elect Director Alberto Inc. Sangiovanni-Vincentelli M For Withhold Cadence Design Systems, CDN 127387108 6/15/04 1.6 Elect Director George M. Scalise M For For Inc. Cadence Design Systems, CDN 127387108 6/15/04 1.7 Elect Director John B. Shoven M For For Inc. Cadence Design Systems, CDN 127387108 6/15/04 1.8 Elect Director Roger S. Siboni M For For Inc. Cadence Design Systems, CDN 127387108 6/15/04 1.9 Elect Director Lip-Bu Tan M For For Inc. Cadence Design Systems, CDN 127387108 6/15/04 2 Amend Stock Option Plan M For Against Inc. Cadence Design Systems, CDN 127387108 6/15/04 3 Amend Employee Stock Purchase Plan M For For Inc. Cadence Design Systems, CDN 127387108 6/15/04 4 Ratify Auditors M For For Inc. Varian Medical Systems VAR 92220P105 6/10/04 1 Increase Authorized Common Stock M For For Inc Henry Schein, Inc. HSIC 806407102 5/25/04 1.1 Elect Director Stanley M. Bergman M For For Henry Schein, Inc. HSIC 806407102 5/25/04 1.2 Elect Director Gerald A. Benjamin M For For Henry Schein, Inc. HSIC 806407102 5/25/04 1.3 Elect Director James P. Breslawski M For For Henry Schein, Inc. HSIC 806407102 5/25/04 1.4 Elect Director Mark E. Mlotek M For For Henry Schein, Inc. HSIC 806407102 5/25/04 1.5 Elect Director Steven Paladino M For For Henry Schein, Inc. HSIC 806407102 5/25/04 1.6 Elect Director Barry J. Alperin M For For Henry Schein, Inc. HSIC 806407102 5/25/04 1.7 Elect Director Pamela Joseph M For Withhold Henry Schein, Inc. HSIC 806407102 5/25/04 1.8 Elect Director Donald J. Kabat M For For Henry Schein, Inc. HSIC 806407102 5/25/04 1.9 Elect Director Marvin H. Schein M For Withhold Henry Schein, Inc. HSIC 806407102 5/25/04 1.10 Elect Director Irving Shafran M For For Henry Schein, Inc. HSIC 806407102 5/25/04 1.11 Elect Director Philip A. Laskawy M For For Henry Schein, Inc. HSIC 806407102 5/25/04 1.12 Elect Director Norman S. Matthews M For For Henry Schein, Inc. HSIC 806407102 5/25/04 1.13 Elect Director Louis W. Sullivan M For For Henry Schein, Inc. HSIC 806407102 5/25/04 1.14 Elect Director Margaret A. Hamburg M For For Henry Schein, Inc. HSIC 806407102 5/25/04 2 Amend Stock Option Plan M For Against Henry Schein, Inc. HSIC 806407102 5/25/04 3 Amend Non-Employee Director Omnibus M For For Stock Plan Henry Schein, Inc. HSIC 806407102 5/25/04 4 Approve Employee Stock Purchase M For For Plan Henry Schein, Inc. HSIC 806407102 5/25/04 5 Ratify Auditors M For For Foundry Networks, Inc. FDRY 35063R100 6/1/04 1.1 Elect Director Bobby R. Johnson, M For For Jr. Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Foundry Networks, Inc. FDRY 35063R100 6/1/04 1.2 Elect Director Andrew K. Ludwick M For For Foundry Networks, Inc. FDRY 35063R100 6/1/04 1.3 Elect Director Alfred J. Amoroso M For For Foundry Networks, Inc. FDRY 35063R100 6/1/04 1.4 Elect Director C. Nicholas Keating, M For For Jr. Foundry Networks, Inc. FDRY 35063R100 6/1/04 1.5 Elect Director J. Steven Young M For Withhold Foundry Networks, Inc. FDRY 35063R100 6/1/04 1.6 Elect Director Alan L. Earhart M For For Foundry Networks, Inc. FDRY 35063R100 6/1/04 2 Ratify Auditors M For For BIOGEN IDEC INC BIIB 09062X103 6/16/04 1.1 Elect Director Alan Belzer M For For BIOGEN IDEC INC BIIB 09062X103 6/16/04 1.2 Elect Director Mary L. Good M For For BIOGEN IDEC INC BIIB 09062X103 6/16/04 1.3 Elect Director James C. Mullen M For For BIOGEN IDEC INC BIIB 09062X103 6/16/04 1.4 Elect Director Bruce R. Ross M For For BIOGEN IDEC INC BIIB 09062X103 6/16/04 2 Ratify Auditors M For For Staples, Inc. SPLS 855030102 6/17/04 1.1 Elect Director Arthur M. Blank M For For Staples, Inc. SPLS 855030102 6/17/04 1.2 Elect Director Gary L. Crittenden M For For Staples, Inc. SPLS 855030102 6/17/04 1.3 Elect Director Martin Trust M For For Staples, Inc. SPLS 855030102 6/17/04 1.4 Elect Director Paul F. Walsh M For For Staples, Inc. SPLS 855030102 6/17/04 2 Approve Omnibus Stock Plan M For For Staples, Inc. SPLS 855030102 6/17/04 3 Amend Employee Stock Purchase Plan M For For Staples, Inc. SPLS 855030102 6/17/04 4 Amend Employee Stock Purchase Plan M For For Staples, Inc. SPLS 855030102 6/17/04 5 Ratify Auditors M For For Staples, Inc. SPLS 855030102 6/17/04 6 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote Staples, Inc. SPLS 855030102 6/17/04 7 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote Staples, Inc. SPLS 855030102 6/17/04 8 Limit Executive Compensation S Against Against Staples, Inc. SPLS 855030102 6/17/04 9 Prohibit Auditor from Providing S Against Against Non-Audit Services Michaels Stores, Inc. MIK 594087108 6/17/04 1.1 Elect Director Charles J. Wyly, Jr. M For For Michaels Stores, Inc. MIK 594087108 6/17/04 1.2 Elect Director Sam Wyly M For For Michaels Stores, Inc. MIK 594087108 6/17/04 1.3 Elect Director Richard E. Hanlon M For For Michaels Stores, Inc. MIK 594087108 6/17/04 1.4 Elect Director Richard C. Marcus M For For Michaels Stores, Inc. MIK 594087108 6/17/04 1.5 Elect Director Liz Minyard M For For Michaels Stores, Inc. MIK 594087108 6/17/04 1.6 Elect Director Cece Smith M For For Michaels Stores, Inc. MIK 594087108 6/17/04 2 Ratify Auditors M For For Michaels Stores, Inc. MIK 594087108 6/17/04 3 Increase Authorized Common Stock M For For Commerce Bancorp, Inc. CBH 200519106 6/11/04 1.1 Elect Director Vernon W. Hill, II M For For Commerce Bancorp, Inc. CBH 200519106 6/11/04 1.2 Elect Director Robert C. Beck M For Withhold Commerce Bancorp, Inc. CBH 200519106 6/11/04 1.3 Elect Director Jack R Bershad M For For Commerce Bancorp, Inc. CBH 200519106 6/11/04 1.4 Elect Director Joseph E. Buckelew M For For Commerce Bancorp, Inc. CBH 200519106 6/11/04 1.5 Elect Director Donald T. M For Withhold Difrancesco Commerce Bancorp, Inc. CBH 200519106 6/11/04 1.6 Elect Director John P. Ferguson M For For Commerce Bancorp, Inc. CBH 200519106 6/11/04 1.7 Elect Director Morton N. Kerr M For For Commerce Bancorp, Inc. CBH 200519106 6/11/04 1.8 Elect Director Steven M. Lewis M For For Commerce Bancorp, Inc. CBH 200519106 6/11/04 1.9 Elect Director George E. Norcross, M For For III Commerce Bancorp, Inc. CBH 200519106 6/11/04 1.10 Elect Director Joseph J. Plumeri, M For For II Commerce Bancorp, Inc. CBH 200519106 6/11/04 1.11 Elect Director Daniel J. Ragone M For For Commerce Bancorp, Inc. CBH 200519106 6/11/04 1.12 Elect Director Wm. A. Schwartz, Jr. M For For Commerce Bancorp, Inc. CBH 200519106 6/11/04 1.13 Elect Director Joseph T. Tarquini, M For For Jr. Commerce Bancorp, Inc. CBH 200519106 6/11/04 2 Approve Stock Option Plan M For Against Commerce Bancorp, Inc. CBH 200519106 6/11/04 3 Increase Authorized Common Stock M For For Commerce Bancorp, Inc. CBH 200519106 6/11/04 4 Ratify Auditors M For For eBay Inc. EBAY 278642103 6/24/04 1.1 Elect Director Philippe Bourguignon M For For eBay Inc. EBAY 278642103 6/24/04 1.2 Elect Director Thomas J. Tierney M For For eBay Inc. EBAY 278642103 6/24/04 1.3 Elect Director Margaret C. Whitman M For For eBay Inc. EBAY 278642103 6/24/04 2 Amend Omnibus Stock Plan M For Against eBay Inc. EBAY 278642103 6/24/04 3 Amend Stock Option Plan M For Against eBay Inc. EBAY 278642103 6/24/04 4 Increase Authorized Common Stock M For For eBay Inc. EBAY 278642103 6/24/04 5 Ratify Auditors M For For eBay Inc. EBAY 278642103 6/24/04 6 Expense Stock Options S Against Against Best Buy Co., Inc. BBY 086516101 6/24/04 1.1 Elect Director Bradbury H. Anderson M For For Best Buy Co., Inc. BBY 086516101 6/24/04 1.2 Elect Director K.J. Higgins Victor M For For Best Buy Co., Inc. BBY 086516101 6/24/04 1.3 Elect Director Allen U. Lenzmeier M For For Best Buy Co., Inc. BBY 086516101 6/24/04 1.4 Elect Director Frank D. Trestman M For For Best Buy Co., Inc. BBY 086516101 6/24/04 1.5 Elect Director James C. Wetherbe M For For Best Buy Co., Inc. BBY 086516101 6/24/04 1.6 Elect Director Ronald James M For For Best Buy Co., Inc. BBY 086516101 6/24/04 1.7 Elect Director Matthew H. Paull M For For Best Buy Co., Inc. BBY 086516101 6/24/04 1.8 Elect Director Mary A. Tolan M For For Best Buy Co., Inc. BBY 086516101 6/24/04 2 Ratify Auditors M For For Best Buy Co., Inc. BBY 086516101 6/24/04 3 Approve Omnibus Stock Plan M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Anthem Inc. ATH 03674B104 6/28/04 1 Issue Shares in Connection with an M For For Acquisition Anthem Inc. ATH 03674B104 6/28/04 2 Change Company Name M For For Autodesk, Inc. ADSK 052769106 6/17/04 1.1 Elect Director Carol A. Bartz M For For Autodesk, Inc. ADSK 052769106 6/17/04 1.2 Elect Director Mark A. Bertelsen M For Withhold Autodesk, Inc. ADSK 052769106 6/17/04 1.3 Elect Director Crawford W. M For For Beveridge Autodesk, Inc. ADSK 052769106 6/17/04 1.4 Elect Director J. Hallam Dawson M For For Autodesk, Inc. ADSK 052769106 6/17/04 1.5 Elect Director Michael J. Fister M For For Autodesk, Inc. ADSK 052769106 6/17/04 1.6 Elect Director Per-Kristian M For For Halvorsen Autodesk, Inc. ADSK 052769106 6/17/04 1.7 Elect Director Steven Scheid M For For Autodesk, Inc. ADSK 052769106 6/17/04 1.8 Elect Director Mary Alice Taylor M For For Autodesk, Inc. ADSK 052769106 6/17/04 1.9 Elect Director Larry W. Wangberg M For For Autodesk, Inc. ADSK 052769106 6/17/04 2 Ratify Auditors M For For Autodesk, Inc. ADSK 052769106 6/17/04 3 Adopt Policy Regarding Equity-Based S Against Against Compensation for Executives WellPoint Health WLP 94973H108 6/28/04 1 Approve Merger Agreement M For For Networks Inc. Siebel Systems, Inc. SEBL 826170102 6/23/04 1.1 Elect Director C. Scott Hartz M For For Siebel Systems, Inc. SEBL 826170102 6/23/04 1.2 Elect Director Charles R. Schwab M For For Siebel Systems, Inc. SEBL 826170102 6/23/04 1.3 Elect Director George T. Shaheen M For For Siebel Systems, Inc. SEBL 826170102 6/23/04 1.4 Elect Director John W. White M For For Siebel Systems, Inc. SEBL 826170102 6/23/04 2 Ratify Auditors M For For Siebel Systems, Inc. SEBL 826170102 6/23/04 3 Expense Stock Options S Abstain For Apria Healthcare Group, AHG 037933108 7/17/03 1.1 Elect Director Vicente Anido, Jr. M For For Inc. Apria Healthcare Group, AHG 037933108 7/17/03 1.2 Elect Director I.T. Corley M For For Inc. Apria Healthcare Group, AHG 037933108 7/17/03 1.3 Elect Director David L. Goldsmith M For For Inc. Apria Healthcare Group, AHG 037933108 7/17/03 1.4 Elect Director Lawrence M. Higby M For For Inc. Apria Healthcare Group, AHG 037933108 7/17/03 1.5 Elect Director Richard H. Koppes M For For Inc. Apria Healthcare Group, AHG 037933108 7/17/03 1.6 Elect Director Philip R. Lochner, M For For Inc. Jr. Apria Healthcare Group, AHG 037933108 7/17/03 1.7 Elect Director Jeri L. Lose M For For Inc. Apria Healthcare Group, AHG 037933108 7/17/03 1.8 Elect Director Beverly Benedict M For For Inc. Thomas Apria Healthcare Group, AHG 037933108 7/17/03 1.9 Elect Director Ralph V. Whitworth M For For Inc. Apria Healthcare Group, AHG 037933108 7/17/03 2 Approve Omnibus Stock Plan M For For Inc. Barra, Inc. NULL 068313105 7/31/03 1.1 Elect Director A. George (Skip) M For For Battle Barra, Inc. NULL 068313105 7/31/03 1.2 Elect Director Kamal Duggirala M For For Barra, Inc. NULL 068313105 7/31/03 1.3 Elect Director M. Blair Hull M For For Barra, Inc. NULL 068313105 7/31/03 1.4 Elect Director Norman J. Laboe M For For Barra, Inc. NULL 068313105 7/31/03 1.5 Elect Director Clyde W. Ostler M For For Barra, Inc. NULL 068313105 7/31/03 1.6 Elect Director Andrew Rudd M For For Barra, Inc. NULL 068313105 7/31/03 2 Amend Non-Employee Director Stock M For For Option Plan Barra, Inc. NULL 068313105 7/31/03 3 Ratify Auditors M For For Infonet Services IN 45666T106 8/19/03 1.1 Elect Director Jose A. Collazo as M For For Corporation Common Share Director Infonet Services IN 45666T106 8/19/03 1.2 Elect Director John Allerton as M For For Corporation ommon Share Director Infonet Services IN 45666T106 8/19/03 1.3 Elect Director Bruce A. Beda as M For For Corporation Common Share Director Infonet Services IN 45666T106 8/19/03 1.4 Elect Director Eric M. de Jong as M For For Corporation Common Share Director Infonet Services IN 45666T106 8/19/03 1.5 Elect Director Per-Eric Fylking as M For For Corporation Common Share Director Infonet Services IN 45666T106 8/19/03 1.6 Elect Director Peter G. Hanelt as M For For Corporation Common Share Director Infonet Services IN 45666T106 8/19/03 1.7 Elect Director Yuzo Mori as Common M For For Corporation Share Director Infonet Services IN 45666T106 8/19/03 1.8 Elect Director Hanspeter Quadri as M For Withhold Corporation Common Share Director Infonet Services IN 45666T106 8/19/03 1.9 Elect Director Jose Manuel Santero M For For Corporation as Common Share Director Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Infonet Services IN 45666T106 8/19/03 1.10 Elect Director Timothy P. Hartman M For For Corporation as Class B Common Share Director Infonet Services IN 45666T106 8/19/03 1.11 Elect Director Matthew J. O'Rourke Corporation as Class B Common Share Director M For For Infonet Services IN 45666T106 8/19/03 2 Amend Employee Stock Purchase Plan M For For Corporation Infonet Services IN 45666T106 8/19/03 3 Approve Omnibus Stock Plan M For Against Corporation Infonet Services IN 45666T106 8/19/03 4 Ratify Auditors M For For Corporation Lone Star Steakhouse & STAR 542307103 7/11/03 1.1 Elect Director Clark R. Mandigo M For For Saloon, Inc. Lone Star Steakhouse & STAR 542307103 7/11/03 1.2 Elect Director John D. White M For For Saloon, Inc. Lone Star Steakhouse & STAR 542307103 7/11/03 1.3 Elect Director Thomas C. Lasorda M For For Saloon, Inc. Lone Star Steakhouse & STAR 542307103 7/11/03 2 Ratify Auditors M For For Saloon, Inc. BMC Software, Inc. BMC 055921100 8/21/03 1.1 Elect Director B. Garland Cupp M For For BMC Software, Inc. BMC 055921100 8/21/03 1.2 Elect Director Robert E. Beauchamp M For For BMC Software, Inc. BMC 055921100 8/21/03 1.3 Elect Director Jon E. Barfield M For For BMC Software, Inc. BMC 055921100 8/21/03 1.4 Elect Director John W. Barter M For For BMC Software, Inc. BMC 055921100 8/21/03 1.5 Elect Director Meldon K. Gafner M For For BMC Software, Inc. BMC 055921100 8/21/03 1.6 Elect Director L.W. Gray M For For BMC Software, Inc. BMC 055921100 8/21/03 1.7 Elect Director Kathleen A. O'Neil M For For BMC Software, Inc. BMC 055921100 8/21/03 1.8 Elect Director George F. Raymond M For For BMC Software, Inc. BMC 055921100 8/21/03 1.9 Elect Director Tom C. Tinsley M For For BMC Software, Inc. BMC 055921100 8/21/03 2 Ratify Auditors M For For Sinclair Broadcast Group, SBGI 829226109 8/7/03 1.1 Elect Director David D. Smith M For Withhold Inc. Sinclair Broadcast Group, SBGI 829226109 8/7/03 1.2 Elect Director Frederick G. Smith M For Withhold Inc. Sinclair Broadcast Group, SBGI 829226109 8/7/03 1.3 Elect Director J. Duncan Smith M For Withhold Inc. Sinclair Broadcast Group, SBGI 829226109 8/7/03 1.4 Elect Director Robert E. Smith M For Withhold Inc. Sinclair Broadcast Group, SBGI 829226109 8/7/03 1.5 Elect Director Basil A. Thomas M For Withhold Inc. Sinclair Broadcast Group, SBGI 829226109 8/7/03 1.6 Elect Director Lawrence E. McCanna M For Withhold Inc. Sinclair Broadcast Group, SBGI 829226109 8/7/03 1.7 Elect Director Daniel C. Keith M For Withhold Inc. Sinclair Broadcast Group, SBGI 829226109 8/7/03 1.8 Elect Director Martin R. Leader M For Withhold Inc. Sinclair Broadcast Group, SBGI 829226109 8/7/03 2 Ratify Auditors M For For Inc. Inamed Corp. IMDC 453235103 7/11/03 1.1 Elect Director Nicholas L. Teti M For For Inamed Corp. IMDC 453235103 7/11/03 1.2 Elect Director James E. Bolin M For For Inamed Corp. IMDC 453235103 7/11/03 1.3 Elect Director Malcolm R. Currie, M For For Ph.D. Inamed Corp. IMDC 453235103 7/11/03 1.4 Elect Director John F. Doyle M For For Inamed Corp. IMDC 453235103 7/11/03 1.5 Elect Director Mitchell S. M For For Rosenthal, M.D. Inamed Corp. IMDC 453235103 7/11/03 1.6 Elect Director Joy A. Amundson M For For Inamed Corp. IMDC 453235103 7/11/03 1.7 Elect Director Terry E. Vandewarker M For For Inamed Corp. IMDC 453235103 7/11/03 2 Amend Employee Stock Purchase Plan M For For Inamed Corp. IMDC 453235103 7/11/03 3 Approve Restricted Stock Plan M For For Inamed Corp. IMDC 453235103 7/11/03 4 Amend Non-Employee Director Omnibus M For For Stock Plan Inamed Corp. IMDC 453235103 7/11/03 5 Ratify Auditors M For For Inamed Corp. IMDC 453235103 7/11/03 6 Other Business M For Against Mentor Corp. MNT 587188103 9/10/03 1.1 Fix Number of and Elect Director M For For Christopher J. Conway Mentor Corp. MNT 587188103 9/10/03 1.2 Elect Director Eugene G. Glover M For For Mentor Corp. MNT 587188103 9/10/03 1.3 Elect Director Walter W. Faster M For For Mentor Corp. MNT 587188103 9/10/03 1.4 Elect Director Michael Nakonechny M For For Mentor Corp. MNT 587188103 9/10/03 1.5 Elect Director Dr. Richard W. Young M For For Mentor Corp. MNT 587188103 9/10/03 1.6 Elect Director Ronald J. Rossi M For For Mentor Corp. MNT 587188103 9/10/03 1.7 Elect Director Jeffrey W. Ubben M For For Mentor Corp. MNT 587188103 9/10/03 2 Allow Board to Fix Number of M For Against Directors Without Shareholder Approval Mentor Corp. MNT 587188103 9/10/03 3 Ratify Auditors M For For Mentor Corp. MNT 587188103 9/10/03 4 Other Business M For Against Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Brookline Bancorp, Inc. BRKL 11373M107 8/27/03 1 Approve Omnibus Stock Plan M For For Brookline Bancorp, Inc. BRKL 11373M107 8/27/03 2 Approve Restricted Stock Plan M For For Zarlink Semiconductor ZL. 989139100 7/16/03 1 Elect A. Borrel, P. J. Brockett, M For Against Inc. (Formerly Mitel Corp) H. T. Lacroix, J. S. Lanthier, K. K. Mandy, J. M. Meunier, K. H. E. Plumley, H. Simon and S. Sirazi as Directors Zarlink Semiconductor Inc. ZL. 989139100 7/16/03 2 Ratify Ernst & Young LLP as M For For (Formerly Mitel Corp) Auditors Sierra Pacific Resources SRP 826428104 8/11/03 1 Approve the Conversion of M For Against Securities Global Imaging Systems GISX 37934A100 8/18/03 1.1 Elect Director Daniel T. Hendrix M For Withhold Inc. Global Imaging Systems GISX 37934A100 8/18/03 1.2 Elect Director M. Lazane Smith M For Withhold Inc. Global Imaging Systems GISX 37934A100 8/18/03 2 Amend Omnibus Stock Plan M For Against Inc. Caesar's Entertainment CZR 700690100 9/10/03 1 Change Company Name M For For American Financial Realty AFR 02607P305 9/25/03 1 Declassify the Board of Directors M For For Trust American Financial Realty AFR 02607P305 9/25/03 2.a.1 Elect Trustee Glenn Blumenthal M For For Trust American Financial Realty AFR 02607P305 9/25/03 2.a.2 Elect Trustee John M. Eggemeyer III M For For Trust American Financial Realty AFR 02607P305 9/25/03 2.a.3 Elect Trustee Raymond Garea M For For Trust American Financial Realty AFR 02607P305 9/25/03 2.a.4 Elect Trustee Michael J. Hagan M For For Trust American Financial Realty AFR 02607P305 9/25/03 2.a.5 Elect Trustee John P. Hollihan III M For For Trust American Financial Realty AFR 02607P305 9/25/03 2.a.6 Elect Trustee William M. Kahane M For For Trust American Financial Realty AFR 02607P305 9/25/03 2.a.7 Elect Trustee Richard A. Kraemer M For For Trust American Financial Realty AFR 02607P305 9/25/03 2.a.8 Elect Trustee Lewis S. Ranieri M For For Trust American Financial Realty AFR 02607P305 9/25/03 2.a.9 Elect Trustee Nicholas S. Schorsch M For For Trust American Financial Realty AFR 02607P305 9/25/03 2.a.0 Elect Trustee J. Rock Tonkel M For For Trust American Financial Realty AFR 02607P305 9/25/03 2.b.1 Elect Trustee Glenn Blumenthal M For For Trust American Financial Realty AFR 02607P305 9/25/03 2.b.2 Elect Trustee Raymond Garea M For For Trust American Financial Realty AFR 02607P305 9/25/03 2.b.3 Elect Trustee William M. Kahane M For For Trust American Financial Realty AFR 02607P305 9/25/03 3 Amend Omnibus Stock Plan M For For Trust Commonwealth Telephone CTCO 203349105 9/3/03 1.1 Elect Director Walter Scott, Jr. M For Withhold Enterprises, Inc. Commonwealth Telephone CTCO 203349105 9/3/03 1.2 Elect Director David C. Mitchell M For Withhold Enterprises, Inc. Commonwealth Telephone CTCO 203349105 9/3/03 1.3 Elect Director David C. McCourt M For Withhold Enterprises, Inc. Commonwealth Telephone CTCO 203349105 9/3/03 1.4 Elect Director Daniel E. Knowles M For Withhold Enterprises, Inc. Commonwealth Telephone CTCO 203349105 9/3/03 2 Ratify Auditors M For For Enterprises, Inc. Commonwealth Telephone CTCO 203349105 9/3/03 3 Convert Class B common shares into M For For Enterprises, Inc. common shares Commonwealth Telephone CTCO 203349105 9/3/03 4 Adjourn Meeting M For For Enterprises, Inc. Integrated Device IDTI 458118106 9/12/03 1 Elect Director Gregory S. Lang M For For Technology, Inc. Integrated Device IDTI 458118106 9/12/03 2 Amend Employee Stock Purchase Plan M For For Technology, Inc. Integrated Device Technology, Inc. IDTI 458118106 9/12/03 3 Ratify Auditors M For For Scientific-Atlanta, Inc. SFA 808655104 11/7/03 1.1 Elect Director Marion H. Antonini M For Withhold Scientific-Atlanta, Inc. SFA 808655104 11/7/03 1.2 Elect Director David J. McLaughlin M For Withhold Scientific-Atlanta, Inc. SFA 808655104 11/7/03 1.3 Elect Director James V. Napier M For Withhold Scientific-Atlanta, Inc. SFA 808655104 11/7/03 1.4 Elect Director Sam Nunn M For Withhold Scientific-Atlanta, Inc. SFA 808655104 11/7/03 2 Approve Omnibus Stock Plan M For Against Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Activision, Inc. ATVI 004930202 9/18/03 1.1 Elect Director Robert A. Kotick M For For Activision, Inc. ATVI 004930202 9/18/03 1.2 Elect Director Brian G. Kelly M For For Activision, Inc. ATVI 004930202 9/18/03 1.3 Elect Director Ronald Doornink M For For Activision, Inc. ATVI 004930202 9/18/03 1.4 Elect Director Kenneth L. Henderson M For For Activision, Inc. ATVI 004930202 9/18/03 1.5 Elect Director Barbara S. Isgur M For For Activision, Inc. ATVI 004930202 9/18/03 1.6 Elect Director Steven T. Mayer M For For Activision, Inc. ATVI 004930202 9/18/03 1.7 Elect Director Robert J. Morgado M For For Activision, Inc. ATVI 004930202 9/18/03 2 Increase Authorized Preferred and M For Against Common Stock Activision, Inc. ATVI 004930202 9/18/03 3 Approve Omnibus Stock Plan M For Against Activision, Inc. ATVI 004930202 9/18/03 4 Ratify Auditors M For For Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.1 Elect Director Bruce L. Downey M For Withhold Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.2 Elect Director Paul M. Bisaro M For Withhold Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.3 Elect Director Carole S. Ben-Maimon M For Withhold Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.4 Elect Director George P. Stephan M For Withhold Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.5 Elect Director Jack M. Kay M For Withhold Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.6 Elect Director Harold N. Chefitz M For Withhold Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.7 Elect Director Richard R. Frankovic M For Withhold Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.8 Elect Director Peter R. Seaver M For Withhold Barr Pharmaceuticals Inc BRL 068306109 10/23/03 1.9 Elect Director James S. Gilmore, M For Withhold III Barr Pharmaceuticals Inc BRL 068306109 10/23/03 2 Change State of Incorporation from M For For New York to Delaware Barr Pharmaceuticals Inc BRL 068306109 10/23/03 3 Increase Authorized Common Stock M For For Briggs & Stratton Corp. BGG 109043109 10/15/03 1.1 Elect Director Robert J. O'Toole M For For Briggs & Stratton Corp. BGG 109043109 10/15/03 1.2 Elect Director John S. Shiely M For For Briggs & Stratton Corp. BGG 109043109 10/15/03 1.3 Elect Director Charles I. Story M For For CACI International, Inc. CAI 127190304 11/20/03 1.1 Elect Director Michael J. Bayer M For For CACI International, Inc. CAI 127190304 11/20/03 1.2 Elect Director Peter A. Derow M For For CACI International, Inc. CAI 127190304 11/20/03 1.3 Elect Director Richard L. M For For Leatherwood CACI International, Inc. CAI 127190304 11/20/03 1.4 Elect Director Dr. J. Phillip M For For London CACI International, Inc. CAI 127190304 11/20/03 1.5 Elect Director Barbara A. McNamara M For For CACI International, Inc. CAI 127190304 11/20/03 1.6 Elect Director Arthur L. Money M For For CACI International, Inc. CAI 127190304 11/20/03 1.7 Elect Director Dr. Warren R. M For For Phillips CACI International, Inc. CAI 127190304 11/20/03 1.8 Elect Director Charles P. Revoile M For For CACI International, Inc. CAI 127190304 11/20/03 1.9 Elect Director Richard P. Sullivan M For For CACI International, Inc. CAI 127190304 11/20/03 1.10 Elect Director John M. Toups M For For CACI International, Inc. CAI 127190304 11/20/03 1.11 Elect Director Larry D. Welch M For For CACI International, Inc. CAI 127190304 11/20/03 2 Ratify Auditors M For For Mercury Computer Systems, MRCY 589378108 11/17/03 1.1 Elect Director James R. Bertelli M For For Inc. Mercury Computer Systems, MRCY 589378108 11/17/03 1.2 Elect Director Russell K. Johnsen M For For Inc. Mercury Computer Systems, MRCY 589378108 11/17/03 2 Amend Stock Option Plan M For Against Inc. Mercury Computer Systems, MRCY 589378108 11/17/03 3 Amend Stock Option Plan M For Against Inc. SBS Technologies, Inc. SBSE 78387P103 11/13/03 1.1 Elect Director Christopher J. M For For Amenson SBS Technologies, Inc. SBSE 78387P103 11/13/03 1.2 Elect Director Warren W. Andrews M For For SBS Technologies, Inc. SBSE 78387P103 11/13/03 1.3 Elect Director L.A. Bennigson, M For For Ph.D. SBS Technologies, Inc. SBSE 78387P103 11/13/03 1.4 Elect Director Peter D. Fenner M For For SBS Technologies, Inc. SBSE 78387P103 11/13/03 1.5 Elect Director Louis C. Golm M For For SBS Technologies, Inc. SBSE 78387P103 11/13/03 1.6 Elect Director Clarence W. Peckham M For For SBS Technologies, Inc. SBSE 78387P103 11/13/03 1.7 Elect Director Richard Szafranski M For For SBS Technologies, Inc. SBSE 78387P103 11/13/03 1.8 Elect Director Alan F. White M For For SBS Technologies, Inc. SBSE 78387P103 11/13/03 2 Ratify Auditors M For For SBS Technologies, Inc. SBSE 78387P103 11/13/03 3 Amend Stock Option Plan M For Against King Pharmaceuticals Inc. KG 495582108 11/4/03 1.1 Elect Director Earnest W. M For For Deavenport, Jr. as Class II Director King Pharmaceuticals Inc. KG 495582108 11/4/03 1.2 Elect Director Elizabeth M. M For For Greetham as Class II Director King Pharmaceuticals Inc. KG 495582108 11/4/03 1.3 Elect Director James R. Lattanzi as M For For Class III Director King Pharmaceuticals Inc. KG 495582108 11/4/03 1.4 Elect Director Philip M. Pfeffer as M For For Class II Director King Pharmaceuticals Inc. KG 495582108 11/4/03 1.5 Elect Director Ted G. Wood as Class M For For I Director King Pharmaceuticals Inc. KG 495582108 11/4/03 2 Ratify Auditors M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Hyperion Solutions Corp. HYSL 44914M104 11/10/03 1.1 Elect Director Jeffrey Rodek M For For Hyperion Solutions Corp. HYSL 44914M104 11/10/03 1.2 Elect Director Aldo Papone M For For Hyperion Solutions Corp. HYSL 44914M104 11/10/03 2 Amend Employee Stock Purchase Plan M For For Hyperion Solutions Corp. HYSL 44914M104 11/10/03 3 Ratify Auditors M For For Medicis Pharmaceutical MRX 584690309 11/19/03 1.1 Elect Director Arthur G. Altschul, M For Withhold Corp. Jr. Medicis Pharmaceutical MRX 584690309 11/19/03 1.2 Elect Director Philip S. Schein, M For Withhold Corp. M.D. Medicis Pharmaceutical MRX 584690309 11/19/03 2 Increase Authorized Common Stock M For For Corp. Medicis Pharmaceutical MRX 584690309 11/19/03 3 Ratify Auditors M For For Corp. Integrated Circuit ICST 45811K208 10/29/03 1.1 Elect Director Hock E. Tan M For Withhold Systems, Inc. Integrated Circuit ICST 45811K208 10/29/03 1.2 Elect Director Nam P. Suh, Ph.D. M For Withhold Systems, Inc. General Growth Properties, GGP 370021107 11/20/03 1 Approve Increase in Common Stock M For For Inc. and a Stock Split Alliance Gaming Corp. AGI 01859P609 12/10/03 1.1 Elect Director Robert Miodunski M For Withhold Alliance Gaming Corp. AGI 01859P609 12/10/03 1.2 Elect Director David Robbins M For Withhold Alliance Gaming Corp. AGI 01859P609 12/10/03 2 Amend Omnibus Stock Plan M For For Alliance Gaming Corp. AGI 01859P609 12/10/03 3 Ratify Auditors M For For Acuity Brands, Inc. AYI 00508Y102 12/18/03 1.1 Elect Director James S. Balloun M For Withhold Acuity Brands, Inc. AYI 00508Y102 12/18/03 1.2 Elect Director Jay M. Davis M For Withhold Acuity Brands, Inc. AYI 00508Y102 12/18/03 1.3 Elect Director Julia B. North M For Withhold Acuity Brands, Inc. AYI 00508Y102 12/18/03 2 Approve Omnibus Stock Plan M For For Acuity Brands, Inc. AYI 00508Y102 12/18/03 3 Ratify Auditors M For For Hutchinson Technology HTCH 448407106 1/28/04 1.1 Elect Director W. Thomas Brunberg M For For Incorporated Hutchinson Technology HTCH 448407106 1/28/04 1.2 Elect Director Archibald Cox, Jr. M For For Incorporated Hutchinson Technology HTCH 448407106 1/28/04 1.3 Elect Director Wayne M. Fortun M For For Incorporated Hutchinson Technology HTCH 448407106 1/28/04 1.4 Elect Director Jeffrey W. Green M For For Incorporated Hutchinson Technology HTCH 448407106 1/28/04 1.5 Elect Director Russell Huffer M For For Incorporated Hutchinson Technology HTCH 448407106 1/28/04 1.6 Elect Director R. Frederick McCoy, M For Withhold Incorporated Jr. Hutchinson Technology HTCH 448407106 1/28/04 1.7 Elect Director William T. Monahan M For For Incorporated Hutchinson Technology HTCH 448407106 1/28/04 1.8 Elect Director Richard B. Solum M For For Incorporated Hutchinson Technology HTCH 448407106 1/28/04 2 Ratify Auditors M For For Incorporated Sybron Dental Specialties, SYD 871142105 2/6/04 1.1 Elect Director James R. Parks M For Withhold Inc. Sybron Dental Specialties, SYD 871142105 2/6/04 1.2 Elect Director Floyd W. Pickrell, M For Withhold Inc. Jr. Sybron Dental Specialties, SYD 871142105 2/6/04 1.3 Elect Director William E. B. Siart M For Withhold Inc. Eagle Materials Inc. EXP 15231R109 1/8/04 1 Approve Reclassification M For For Eagle Materials Inc. EXP 15231R109 1/8/04 2 Classify the Board of Directors M For Against Eagle Materials Inc. EXP 15231R109 1/8/04 3 Eliminate Right to Act by Written M For Against Consent Eagle Materials Inc. EXP 15231R109 1/8/04 4 Eliminate Right to Call Special M For Against Meeting Eagle Materials Inc. EXP 15231R109 1/8/04 5 Adopt Supermajority Vote M For Against Requirement for Amendments Eagle Materials Inc. EXP 15231R109 1/8/04 6 Increase Authorized Preferred and M For Against Common Stock Eagle Materials Inc. EXP 15231R109 1/8/04 7 Change Company Name M For For Eagle Materials Inc. EXP 15231R109 1/8/04 8 Adopt Shareholder Rights Plan M For Against (Poison Pill) Eagle Materials Inc. EXP 15231R109 1/8/04 9 Approve Omnibus Stock Plan M For For UGI Corp. UGI 902681105 2/24/04 1.1 Elect Director James W. Stratton M For For UGI Corp. UGI 902681105 2/24/04 1.2 Elect Director Stephen D. Ban M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ UGI Corp. UGI 902681105 2/24/04 1.3 Elect Director Richard C. Gozon M For For UGI Corp. UGI 902681105 2/24/04 1.4 Elect Director Lon R. Greenberg M For For UGI Corp. UGI 902681105 2/24/04 1.5 Elect Director Thomas F. Donovan M For For UGI Corp. UGI 902681105 2/24/04 1.6 Elect Director Marvin O. Schlanger M For For UGI Corp. UGI 902681105 2/24/04 1.7 Elect Director Anne Pol M For For UGI Corp. UGI 902681105 2/24/04 1.8 Elect Director Ernest E. Jones M For For UGI Corp. UGI 902681105 2/24/04 2 Approve Omnibus Stock Plan M For For UGI Corp. UGI 902681105 2/24/04 3 Ratify Auditors M For For UGI Corp. UGI 902681105 2/24/04 4 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote International Rectifier IRF 460254105 1/26/04 1 Increase Authorized Common Stock M For For Corp. Amdocs Limited DOX G02602103 1/22/04 1.1 Elect Bruce Anderson as Director M For Withhold Amdocs Limited DOX G02602103 1/22/04 1.2 Elect Avinoam Naor as Director M For Withhold Amdocs Limited DOX G02602103 1/22/04 1.3 Elect Adrian Gardner as Director M For Withhold Amdocs Limited DOX G02602103 1/22/04 1.4 Elect Dov Baharav as Director M For Withhold Amdocs Limited DOX G02602103 1/22/04 1.5 Elect Julian Brodsky as Director M For Withhold Amdocs Limited DOX G02602103 1/22/04 1.6 Elect Eli Gelman as Director M For Withhold Amdocs Limited DOX G02602103 1/22/04 1.7 Elect Charles Foster as Director M For Withhold Amdocs Limited DOX G02602103 1/22/04 1.8 Elect James Kahan as Director M For Withhold Amdocs Limited DOX G02602103 1/22/04 1.9 Elect Nehemia Lemelbaum as Director M For Withhold Amdocs Limited DOX G02602103 1/22/04 1.10 Elect John McLennan as Director M For Withhold Amdocs Limited DOX G02602103 1/22/04 1.11 Elect Robert Minicucci as Director M For Withhold Amdocs Limited DOX G02602103 1/22/04 1.12 Elect Mario Segal as Director M For Withhold Amdocs Limited DOX G02602103 1/22/04 2 Accept Financial Statements For M For For Fiscal Year 2003 Amdocs Limited DOX G02602103 1/22/04 3 Amend 1998 Stock Option and M For For Incentive Plan Amdocs Limited DOX G02602103 1/22/04 4 Approve Ernst & Young Auditors and M For For Authorize Audit Committee of Board to Fix Their Remuneration Agere Systems Inc AGR.A 00845V100 2/19/04 1.1 Elect Director Richard L. Clemmer M For For Agere Systems Inc AGR.A 00845V100 2/19/04 1.2 Elect Director John T. Dickson M For For Quanex Corp. NX 747620102 2/26/04 1.1 Elect Director Vincent R. Scorsone M For For Quanex Corp. NX 747620102 2/26/04 1.2 Elect Director Joseph J. Ross M For For Quanex Corp. NX 747620102 2/26/04 1.3 Elect Director Richard L. Wellek M For For Quanex Corp. NX 747620102 2/26/04 2 Amend Employee Stock Purchase Plan M For Against Maximus Inc. MMS 577933104 3/18/04 1.1 Elect Director Paul R. Lederer M For Withhold Maximus Inc. MMS 577933104 3/18/04 1.1 Elect Director Paul R. Lederer M For Withhold Maximus Inc. MMS 577933104 3/18/04 1.2 Elect Director Peter B. Pond M For Withhold Maximus Inc. MMS 577933104 3/18/04 1.2 Elect Director Peter B. Pond M For Withhold Maximus Inc. MMS 577933104 3/18/04 1.3 Elect Director James R. Thompson, M For Withhold Jr. Maximus Inc. MMS 577933104 3/18/04 1.3 Elect Director James R. Thompson, M For Withhold Jr. Maximus Inc. MMS 577933104 3/18/04 2 Amend Employee Stock Purchase Plan M For For Maximus Inc. MMS 577933104 3/18/04 2 Amend Employee Stock Purchase Plan M For For Advanced Digital ADIC 007525108 3/10/04 1.1 Elect Director Tom A. Alberg M For For Information Corp. Advanced Digital ADIC 007525108 3/10/04 1.2 Elect Director Walter F. Walker M For For Information Corp. Advanced Digital ADIC 007525108 3/10/04 2 Amend Omnibus Stock Plan M For Against Information Corp. Advanced Digital ADIC 007525108 3/10/04 3 Amend Employee Stock Purchase Plan M For For Information Corp. Transaction Systems TSAI 893416107 3/9/04 1.1 Elect Director Roger K. Alexander M For For Architects, Inc. Transaction Systems TSAI 893416107 3/9/04 1.2 Elect Director John D. Curtis M For For Architects, Inc. Transaction Systems TSAI 893416107 3/9/04 1.3 Elect Director Gregory D. Derkacht M For For Architects, Inc. Transaction Systems TSAI 893416107 3/9/04 1.4 Elect Director Jim D. Kever M For For Architects, Inc. Transaction Systems TSAI 893416107 3/9/04 1.5 Elect Director Frank R. Sanchez M For For Architects, Inc. Transaction Systems TSAI 893416107 3/9/04 1.6 Elect Director Harlan F. Seymour M For For Architects, Inc. Transaction Systems TSAI 893416107 3/9/04 1.7 Elect Director John E. Stokely M For For Architects, Inc. Transaction Systems TSAI 893416107 3/9/04 2 Amend Non-Employee Director Stock M For For Architects, Inc. Option Plan Transaction Systems TSAI 893416107 3/9/04 3 Amend Employee Stock Purchase Plan M For For Architects, Inc. Transaction Systems TSAI 893416107 3/9/04 4 Ratify Auditors M For For Architects, Inc. Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ IDEX Corp. IEX 45167R104 3/23/04 1.1 Elect Director Paul E. Raether M For Withhold IDEX Corp. IEX 45167R104 3/23/04 1.2 Elect Director Neil A. Springer M For Withhold IDEX Corp. IEX 45167R104 3/23/04 1.3 Elect Director Dennis K. Williams M For Withhold IDEX Corp. IEX 45167R104 3/23/04 2 Ratify Auditors M For For United Defense Inds Inc UDI 91018B104 4/13/04 1.1 Elect Director Frank C. Carlucci M For Withhold United Defense Inds Inc UDI 91018B104 4/13/04 1.2 Elect Director Peter J. Clare M For For United Defense Inds Inc UDI 91018B104 4/13/04 1.3 Elect Director William E. Conway, M For For Jr. United Defense Inds Inc UDI 91018B104 4/13/04 1.4 Elect Director C. Thomas Faulders, M For For III United Defense Inds Inc UDI 91018B104 4/13/04 1.5 Elect Director Robert J. Natter M For For United Defense Inds Inc UDI 91018B104 4/13/04 1.6 Elect Director J. H. Binford Peay, M For For III United Defense Inds Inc UDI 91018B104 4/13/04 1.7 Elect Director Thomas W. Rabaut M For For United Defense Inds Inc UDI 91018B104 4/13/04 1.8 Elect Director Francis Raborn M For For United Defense Inds Inc UDI 91018B104 4/13/04 1.9 Elect Director John M. M For Withhold Shalikashvili United Defense Inds Inc UDI 91018B104 4/13/04 2 Amend Omnibus Stock Plan M For Against The Ryland Group, Inc. RYL 783764103 4/21/04 1.1 Elect Director R. Chad Dreier M For For The Ryland Group, Inc. RYL 783764103 4/21/04 1.2 Elect Director Daniel T. Bane M For For The Ryland Group, Inc. RYL 783764103 4/21/04 1.3 Elect Director Leslie M. Frecon M For For The Ryland Group, Inc. RYL 783764103 4/21/04 1.4 Elect Director Ronald A. Hernandez M For For The Ryland Group, Inc. RYL 783764103 4/21/04 1.5 Elect Director William L. Jews M For For The Ryland Group, Inc. RYL 783764103 4/21/04 1.6 Elect Director Ned Mansour M For For The Ryland Group, Inc. RYL 783764103 4/21/04 1.7 Elect Director Robert E. Mellor M For For The Ryland Group, Inc. RYL 783764103 4/21/04 1.8 Elect Director Norman J. Metcalfe M For For The Ryland Group, Inc. RYL 783764103 4/21/04 1.9 Elect Director Charlotte St. Martin M For For The Ryland Group, Inc. RYL 783764103 4/21/04 1.10 Elect Director Paul J. Varello M For For The Ryland Group, Inc. RYL 783764103 4/21/04 1.11 Elect Director John O. Wilson M For For The Ryland Group, Inc. RYL 783764103 4/21/04 2 Approve Non-Employee Director Stock M For For Option Plan The Ryland Group, Inc. RYL 783764103 4/21/04 3 Prepare Sustainability Report S Against Against FirstFed Financial Corp. FED 337907109 4/21/04 1.1 Elect Director Babette E. Heimbuch M For For FirstFed Financial Corp. FED 337907109 4/21/04 1.2 Elect Director James P. Giraldin M For For FirstFed Financial Corp. FED 337907109 4/21/04 1.3 Elect Director John R. Woodhull M For For FirstFed Financial Corp. FED 337907109 4/21/04 2 Ratify Auditors M For For Albany International Corp. AIN 012348108 5/6/04 1.1 Elect Director Frank R. Schmeler M For Withhold Albany International Corp. AIN 012348108 5/6/04 1.2 Elect Director Thomas R. Beecher, M For Withhold Jr. Albany International Corp. AIN 012348108 5/6/04 1.3 Elect Director Francis L. McKone M For Withhold Albany International Corp. AIN 012348108 5/6/04 1.4 Elect Director Barbara P. Wright M For Withhold Albany International Corp. AIN 012348108 5/6/04 1.5 Elect Director Joseph G. Morone M For Withhold Albany International Corp. AIN 012348108 5/6/04 1.6 Elect Director Christine L. M For Withhold Standish Albany International Corp. AIN 012348108 5/6/04 1.7 Elect Director Erland E. Kailbourne M For Withhold Albany International Corp. AIN 012348108 5/6/04 1.8 Elect Director John C. Standish M For Withhold Albany International Corp. AIN 012348108 5/6/04 1.9 Elect Director Hugh J. Murphy M For Withhold Albany International Corp. AIN 012348108 5/6/04 2 Approve Outside Director Stock M For For Awards in Lieu of Cash American Axle & AXL 024061103 4/29/04 1.1 Elect Director B. G. Mathis M For For Manufacturing Holdings, Inc. American Axle & AXL 024061103 4/29/04 1.2 Elect Director Thomas L. Martin M For For Manufacturing Holdings, Inc. American Axle & AXL 024061103 4/29/04 1.3 Elect Director Dr. Henry T. Yang M For For Manufacturing Holdings, Inc. American Axle & AXL 024061103 4/29/04 1.3 Elect Director Dr. Henry T. Yang M For For Manufacturing Holdings, Inc. American Axle & AXL 024061103 4/29/04 3 Approve Omnibus Stock Plan M For For Manufacturing Holdings, Inc. Progress Software Corp. PRGS 743312100 4/22/04 1 Fix Number of Directors M For For Progress Software Corp. PRGS 743312100 4/22/04 2.1 Elect Director Joseph W. Alsop M For For Progress Software Corp. PRGS 743312100 4/22/04 2.2 Elect Director Larry R. Harris M For For Progress Software Corp. PRGS 743312100 4/22/04 2.3 Elect Director Roger J. Heinen, Jr. M For For Progress Software Corp. PRGS 743312100 4/22/04 2.4 Elect Director Michael L. Mark M For For Progress Software Corp. PRGS 743312100 4/22/04 2.5 Elect Director Scott A. Mcgregor M For For Progress Software Corp. PRGS 743312100 4/22/04 2.6 Elect Director Amran Rasiel M For For Progress Software Corp. PRGS 743312100 4/22/04 3 Amend Employee Stock Purchase Plan M For For Wolverine World Wide, Inc. WWW 978097103 4/22/04 1.1 Elect Director Geoffrey B. Bloom M For For Wolverine World Wide, Inc. WWW 978097103 4/22/04 1.2 Elect Director David T. Kollat M For For Wolverine World Wide, Inc. WWW 978097103 4/22/04 1.3 Elect Director David P. Mehney M For For Wolverine World Wide, Inc. WWW 978097103 4/22/04 1.4 Elect Director Timothy J. O'Donovan M For For Wolverine World Wide, Inc. WWW 978097103 4/22/04 2 Ratify Auditors M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ TCF Financial Corp. TCB 872275102 4/28/04 1.1 Elect Director Luella G. Goldberg M For For TCF Financial Corp. TCB 872275102 4/28/04 1.2 Elect Director George G. Johnson M For For TCF Financial Corp. TCB 872275102 4/28/04 1.3 Elect Director Lynn A. Nagorske M For For TCF Financial Corp. TCB 872275102 4/28/04 1.4 Elect Director Ralph Strangis M For Withhold TCF Financial Corp. TCB 872275102 4/28/04 2 Approve Executive Incentive Bonus M For For Plan TCF Financial Corp. TCB 872275102 4/28/04 3 Amend Omnibus Stock Plan M For Against TCF Financial Corp. TCB 872275102 4/28/04 4 Approve Omnibus Stock Plan M For Against TCF Financial Corp. TCB 872275102 4/28/04 5 Ratify Auditors M For For Autoliv Inc. ALV 052800109 4/27/04 1.1 Elect Director Per-Olof Aronson M For For Autoliv Inc. ALV 052800109 4/27/04 1.2 Elect Director Walter Kunerth M For For Autoliv Inc. ALV 052800109 4/27/04 1.3 Elect Director Lars Westerberg M For For Autoliv Inc. ALV 052800109 4/27/04 2 Amend Omnibus Stock Plan M For Against Autoliv Inc. ALV 052800109 4/27/04 3 Ratify Auditors M For For Westamerica Bancorporation WABC 957090103 4/22/04 1.1 Elect Director Etta Allen M For For Westamerica Bancorporation WABC 957090103 4/22/04 1.2 Elect Director Louis Bartolini M For For Westamerica Bancorporation WABC 957090103 4/22/04 1.3 Elect Director E. Joseph Bowler M For For Westamerica Bancorporation WABC 957090103 4/22/04 1.4 Elect Director Arthur Latno, Jr. M For For Westamerica Bancorporation WABC 957090103 4/22/04 1.5 Elect Director Patrick Lynch M For For Westamerica Bancorporation WABC 957090103 4/22/04 1.6 Elect Director Catherine MacMillan M For For Westamerica Bancorporation WABC 957090103 4/22/04 1.7 Elect Director Ronald Nelson M For For Westamerica Bancorporation WABC 957090103 4/22/04 1.8 Elect Director Carl Otto M For For Westamerica Bancorporation WABC 957090103 4/22/04 1.9 Elect Director David Payne M For For Westamerica Bancorporation WABC 957090103 4/22/04 1.10 Elect Director Edward Sylvester M For For Westamerica Bancorporation WABC 957090103 4/22/04 2 Ratify Auditors M For For Cooper Tire & Rubber Co. CTB 216831107 5/4/04 1.1 Elect Director Arthur H. Aronson M For For Cooper Tire & Rubber Co. CTB 216831107 5/4/04 1.2 Elect Director Thomas A. Dattilo M For For Cooper Tire & Rubber Co. CTB 216831107 5/4/04 1.3 Elect Director Byron O. Pond M For For Cooper Tire & Rubber Co. CTB 216831107 5/4/04 2 Ratify Auditors S Against Against Waddell & Reed Financial, WDR 930059100 4/28/04 1.1 Elect Director Henry J. Herrmann M For For Inc. Waddell & Reed Financial, WDR 930059100 4/28/04 1.2 Elect Director James M. Raines M For For Inc. Waddell & Reed Financial, WDR 930059100 4/28/04 1.3 Elect Director William L. Rogers M For For Inc. Brunswick Corp. BC 117043109 4/28/04 1.1 Elect Director Nolan D. Archibald M For For Brunswick Corp. BC 117043109 4/28/04 1.2 Elect Director Jeffrey L. Bleustein M For For Brunswick Corp. BC 117043109 4/28/04 1.3 Elect Director Graham H. Phillips M For For Brunswick Corp. BC 117043109 4/28/04 2 Ratify Auditors M For For C. R. Bard, Inc. BCR 067383109 4/21/04 1.1 Elect Director Anthony Welters M For For C. R. Bard, Inc. BCR 067383109 4/21/04 1.2 Elect Director Tony L. White M For For C. R. Bard, Inc. BCR 067383109 4/21/04 1.3 Elect Director Theodore E. Martin M For For C. R. Bard, Inc. BCR 067383109 4/21/04 1.4 Elect Director Timothy M. Ring M For For C. R. Bard, Inc. BCR 067383109 4/21/04 2 Approve Omnibus Stock Plan M For For C. R. Bard, Inc. BCR 067383109 4/21/04 3 Amend Executive Incentive Bonus M For For Plan C. R. Bard, Inc. BCR 067383109 4/21/04 4 Ratify Auditors M For For Cabot Oil & Gas Corp. COG 127097103 4/29/04 1.1 Elect Director Robert F. Bailey M For For Cabot Oil & Gas Corp. COG 127097103 4/29/04 1.2 Elect Director John G.L. Cabot M For For Cabot Oil & Gas Corp. COG 127097103 4/29/04 2 Approve Omnibus Stock Plan M For For Cabot Oil & Gas Corp. COG 127097103 4/29/04 3 Ratify Auditors M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.1 Elect Director Richard F. Bonini M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.2 Elect Director Edgar M. Cullman, Jr M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.3 Elect Director John L. Ernst M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.4 Elect Director Peter A. Hoffman M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.5 Elect Director Efraim Kier M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.6 Elect Director Salomon Levis M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.7 Elect Director Zoila Levis M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.8 Elect Director Harold D. Vicente M For For Doral Financial Corp. DRL 25811P100 4/21/04 1.9 Elect Director John B. Hughes M For For Doral Financial Corp. DRL 25811P100 4/21/04 2 Increase Authorized Common Stock M For For Doral Financial Corp. DRL 25811P100 4/21/04 3 Increase Authorized Preferred Stock M For Against Doral Financial Corp. DRL 25811P100 4/21/04 4 Approve Omnibus Stock Plan M For For Doral Financial Corp. DRL 25811P100 4/21/04 5 Ratify Auditors M For For Inter-Tel, Inc. INTL 458372109 4/27/04 1.1 Elect Director Steven G. Mihaylo M For For Inter-Tel, Inc. INTL 458372109 4/27/04 1.2 Elect Director J. Robert Anderson M For For Inter-Tel, Inc. INTL 458372109 4/27/04 1.3 Elect Director Jerry W. Chapman M For For Inter-Tel, Inc. INTL 458372109 4/27/04 1.4 Elect Director Gary D. Edens M For For Inter-Tel, Inc. INTL 458372109 4/27/04 1.5 Elect Director C. Roland Haden M For For Inter-Tel, Inc. INTL 458372109 4/27/04 2 Ratify Auditors M For For Inter-Tel, Inc. INTL 458372109 4/27/04 3 Other Business M For Against Compass Bancshares, Inc. CBSS 20449H109 4/19/04 1.1 Elect Director Carl J. Gessler, Jr. M For For Compass Bancshares, Inc. CBSS 20449H109 4/19/04 1.2 Elect Director D. Paul Jones, Jr. M For For Compass Bancshares, Inc. CBSS 20449H109 4/19/04 1.3 Elect Director J. Terry Strange M For For Compass Bancshares, Inc. CBSS 20449H109 4/19/04 2 Adopt Dividend Reinvestment Plan M For For Compass Bancshares, Inc. CBSS 20449H109 4/19/04 3 Ratify Auditors M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ HNI CORP HNI 438092108 5/4/04 1.1 Elect Director John A. Halbrook M For For HNI CORP HNI 438092108 5/4/04 1.2 Elect Director Dennis J. Martin M For For HNI CORP HNI 438092108 5/4/04 1.3 Elect Director Jack D. Michaels M For For HNI CORP HNI 438092108 5/4/04 1.4 Elect Director Abbie J. Smith M For For HNI CORP HNI 438092108 5/4/04 2 Change Company Name M For For HNI CORP HNI 438092108 5/4/04 3 Amend Articles to Remove M For For Antitakeover Provisions Macdermid, Inc. MRD 554273102 4/27/04 1.1 Elect Director Daniel H. Leever M For For Macdermid, Inc. MRD 554273102 4/27/04 1.2 Elect Director Donald G. Ogilvie M For For Macdermid, Inc. MRD 554273102 4/27/04 1.3 Elect Director James C. Smith M For For Macdermid, Inc. MRD 554273102 4/27/04 1.4 Elect Director Joseph M. Silvestri M For For Macdermid, Inc. MRD 554273102 4/27/04 1.5 Elect Director T. Quinn Spitzer M For For Macdermid, Inc. MRD 554273102 4/27/04 1.6 Elect Director Robert L. Ecklin M For For Macdermid, Inc. MRD 554273102 4/27/04 2 Ratify Auditors M For For Macdermid, Inc. MRD 554273102 4/27/04 3 Amend Executive Incentive Bonus M For For Plan Macdermid, Inc. MRD 554273102 4/27/04 4 Amend Omnibus Stock Plan M For For Macdermid, Inc. MRD 554273102 4/27/04 5 Other Business M For Against OGE Energy Corp. OGE 670837103 5/20/04 1.1 Elect Director Luke R. Corbett M For Withhold OGE Energy Corp. OGE 670837103 5/20/04 1.2 Elect Director Robert Kelley M For Withhold OGE Energy Corp. OGE 670837103 5/20/04 1.3 Elect Director J.D. Williams M For Withhold Teledyne Technologies, TDY 879360105 4/28/04 1.1 Elect Director Charles Crocker M For Withhold Inc. Teledyne Technologies, TDY 879360105 4/28/04 1.2 Elect Director Robert Mehrabian M For Withhold Inc. Teledyne Technologies, TDY 879360105 4/28/04 1.3 Elect Director Michael T. Smith M For Withhold Inc. Teledyne Technologies, TDY 879360105 4/28/04 2 Ratify Auditors M For For Inc. Insight Enterprises, Inc. NSIT 45765U103 4/29/04 1.1 Elect Director Eric J. Crown M For For Insight Enterprises, Inc. NSIT 45765U103 4/29/04 1.2 Elect Director Michael M. Fisher M For For Insight Enterprises, Inc. NSIT 45765U103 4/29/04 1.3 Elect Director Bennett Dorrance M For For Insight Enterprises, Inc. NSIT 45765U103 4/29/04 2 Ratify Auditors M For For ExpressJet Holding, Inc. XJT 30218U108 5/5/04 1.1 Elect Director Kim A. Fadel M For For ExpressJet Holding, Inc. XJT 30218U108 5/5/04 1.2 Elect Director L.E. Simmons M For For ExpressJet Holding, Inc. XJT 30218U108 5/5/04 2 Ratify Auditors M For For ExpressJet Holding, Inc. XJT 30218U108 5/5/04 3 Other Business M None Against USANA Health Sciences Inc USNA 90328M107 4/21/04 1.1 Elect Director Myron W. Wentz, M For For Ph.D. USANA Health Sciences Inc USNA 90328M107 4/21/04 1.2 Elect Director Robert Anciaux M For For USANA Health Sciences Inc USNA 90328M107 4/21/04 1.3 Elect Director Ronald S. Poelman M For For USANA Health Sciences Inc USNA 90328M107 4/21/04 1.4 Elect Director Denis E. Waitley, M For For Ph.D. USANA Health Sciences Inc USNA 90328M107 4/21/04 1.5 Elect Director Jerry G. McClain M For For USANA Health Sciences Inc USNA 90328M107 4/21/04 2 Ratify Auditors M For For Apria Healthcare Group, AHG 037933108 4/21/04 1.1 Elect Director Vicente Anido, Jr. M For For Inc. Apria Healthcare Group, AHG 037933108 4/21/04 1.2 Elect Director I.T. Corley M For For Inc. Apria Healthcare Group, AHG 037933108 4/21/04 1.3 Elect Director David L. Goldsmith M For For Inc. Apria Healthcare Group, AHG 037933108 4/21/04 1.4 Elect Director Lawrence M. Higby M For For Inc. Apria Healthcare Group, AHG 037933108 4/21/04 1.5 Elect Director Richard H. Koppes M For For Inc. Apria Healthcare Group, AHG 037933108 4/21/04 1.6 Elect Director Philip R. Lochner, M For For Inc. Jr. Apria Healthcare Group, AHG 037933108 4/21/04 1.7 Elect Director Jeri L. Lose M For For Inc. Apria Healthcare Group, AHG 037933108 4/21/04 1.8 Elect Director Beverly Benedict M For For Inc. Thomas Apria Healthcare Group, AHG 037933108 4/21/04 1.9 Elect Director Ralph V. Whitworth M For For Inc. United Stationers Inc. USTR 913004107 5/6/04 1.1 Elect Director Roy W. Haley M For For United Stationers Inc. USTR 913004107 5/6/04 1.2 Elect Director Benson P. Shapiro M For For United Stationers Inc. USTR 913004107 5/6/04 1.3 Elect Director Alex D. Zoghlin M For For United Stationers Inc. USTR 913004107 5/6/04 2 Approve Omnibus Stock Plan M For For Noble Energy, Inc. NBL 655044105 4/27/04 1.1 Elect Director Michael A. Cawley M For For Noble Energy, Inc. NBL 655044105 4/27/04 1.2 Elect Director Edward F. Cox M For For Noble Energy, Inc. NBL 655044105 4/27/04 1.3 Elect Director Charles D. Davidson M For For Noble Energy, Inc. NBL 655044105 4/27/04 1.4 Elect Director Kirby L. Hedrick M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Noble Energy, Inc. NBL 655044105 4/27/04 1.5 Elect Director Dale P. Jones M For For Noble Energy, Inc. NBL 655044105 4/27/04 1.6 Elect Director Bruce A. Smith M For For Noble Energy, Inc. NBL 655044105 4/27/04 2 Ratify Auditors M For For Noble Energy, Inc. NBL 655044105 4/27/04 3 Amend Non-Employee Director Stock M For Against Option Plan Noble Energy, Inc. NBL 655044105 4/27/04 4 Approve Executive Incentive Bonus M For For Plan Puget Energy, Inc. PSD 745310102 5/4/04 1.1 Elect Director Phyllis J. Campbell M For For Puget Energy, Inc. PSD 745310102 5/4/04 1.2 Elect Director Stephen E. Frank M For For Puget Energy, Inc. PSD 745310102 5/4/04 1.3 Elect Director Dr. Kenneth P. M For For Mortimer Puget Energy, Inc. PSD 745310102 5/4/04 1.4 Elect Director Stephen P. Reynolds M For For Providian Financial Corp. PVN 74406A102 5/13/04 1.1 Elect Director John L. Douglas M For For Providian Financial Corp. PVN 74406A102 5/13/04 1.2 Elect Director J. David Grissom M For For Providian Financial Corp. PVN 74406A102 5/13/04 1.3 Elect Director Robert J. Higgins M For For Providian Financial Corp. PVN 74406A102 5/13/04 1.4 Elect Director Francesca Ruiz de M For For Luzuriaga Providian Financial Corp. PVN 74406A102 5/13/04 2 Ratify Auditors M For For Apartment Investment & AIV 03748R101 4/30/04 1.1 Elect Director Terry Considine M For For Management Co. Apartment Investment & AIV 03748R101 4/30/04 1.2 Elect Director Peter K. Kompaniez M For For Management Co. Apartment Investment & AIV 03748R101 4/30/04 1.3 Elect Director James N. Bailey M For For Management Co. Apartment Investment & AIV 03748R101 4/30/04 1.4 Elect Director Richard S. Ellwood M For For Management Co. Apartment Investment & AIV 03748R101 4/30/04 1.5 Elect Director J. Landis Martin M For For Management Co. Apartment Investment & AIV 03748R101 4/30/04 1.6 Elect Director Thomas L. Rhodes M For For Management Co. Apartment Investment & AIV 03748R101 4/30/04 2 Ratify Auditors M For For Management Co. Apartment Investment & AIV 03748R101 4/30/04 3 Approve Sale of Company Assets M For For Management Co. Apartment Investment & AIV 03748R101 4/30/04 4 Limit Executive Compensation S Against Against Management Co. Stewart Information STC 860372101 4/30/04 1.1 Elect Director Lloyd Bentsen, III M For For Services Corp. Stewart Information STC 860372101 4/30/04 1.2 Elect Director Nita B. Hanks M For For Services Corp. Stewart Information STC 860372101 4/30/04 1.3 Elect Director Dr. E. Douglas Hodo M For For Services Corp. Stewart Information STC 860372101 4/30/04 1.4 Elect Director Dr. W. Arthur Porter M For For Services Corp. Stewart Information STC 860372101 4/30/04 1.5 Elect Director Gov. John P. Laware M For For Services Corp. Energen Corp. EGN 29265N108 4/28/04 1.1 Elect Director Stephen D. Ban M For For Energen Corp. EGN 29265N108 4/28/04 1.2 Elect Director Julian W. Banton M For For Energen Corp. EGN 29265N108 4/28/04 1.3 Elect Director T. Michael Goodrich M For For Energen Corp. EGN 29265N108 4/28/04 1.4 Elect Director Wm. Michael Warren M For For Jr. Energen Corp. EGN 29265N108 4/28/04 1.5 Elect Director David W. Wilson M For For Health Net, Inc. HNT 42222G108 5/13/04 1.1 Elect Director J. Thomas Bouchard M For For Health Net, Inc. HNT 42222G108 5/13/04 1.2 Elect Director Theodore F. Craver, M For For Jr. Health Net, Inc. HNT 42222G108 5/13/04 1.3 Elect Director Thomas T. Farley M For For Health Net, Inc. HNT 42222G108 5/13/04 1.4 Elect Director Gale S. Fitzgerald M For For Health Net, Inc. HNT 42222G108 5/13/04 1.5 Elect Director Patrick Foley M For For Health Net, Inc. HNT 42222G108 5/13/04 1.6 Elect Director Jay M. Gellert M For For Health Net, Inc. HNT 42222G108 5/13/04 1.7 Elect Director Roger F. Greaves M For For Health Net, Inc. HNT 42222G108 5/13/04 1.8 Elect Director Richard W. Hanselman M For For Health Net, Inc. HNT 42222G108 5/13/04 1.9 Elect Director Richard J. M For For Stegemeier Health Net, Inc. HNT 42222G108 5/13/04 1.10 Elect Director Bruce G. Willison M For For Health Net, Inc. HNT 42222G108 5/13/04 1.11 Elect Director Frederick C. Yeager M For For Health Net, Inc. HNT 42222G108 5/13/04 2 Eliminate Class of Common Stock M For For Health Net, Inc. HNT 42222G108 5/13/04 3 Ratify Auditors M For For Washington Group WGII 938862208 5/7/04 1 Declassify the Board of Directors M For For International Inc Washington Group WGII 938862208 5/7/04 2.1 Elect Director Stephen G. Hanks M For For International Inc Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Washington Group WGII 938862208 5/7/04 2.2 Elect Director Michael P. Monaco M For For International Inc Washington Group WGII 938862208 5/7/04 2.3 Elect Director Cordell Reed M For For International Inc Washington Group WGII 938862208 5/7/04 2.4 Elect Director Bettina M. Whyte M For For International Inc Washington Group WGII 938862208 5/7/04 2.4 Elect Director Bettina M. Whyte M For For International Inc Washington Group WGII 938862208 5/7/04 4 Approve Omnibus Stock Plan M For Against International Inc Valassis Communications, VCI 918866104 5/11/04 1.1 Elect Director Patrick F. Brennan M For For Inc. Valassis Communications, VCI 918866104 5/11/04 1.2 Elect Director Kenneth V. Darish M For For Inc. Valassis Communications, VCI 918866104 5/11/04 1.3 Elect Director Seth Goldstein M For For Inc. Valassis Communications, VCI 918866104 5/11/04 1.4 Elect Director Barry P. Hoffman M For For Inc. Valassis Communications, VCI 918866104 5/11/04 1.5 Elect Director Walter H. Ku M For For Inc. Valassis Communications, VCI 918866104 5/11/04 1.6 Elect Director Robert L. Recchia M For For Inc. Valassis Communications, VCI 918866104 5/11/04 1.7 Elect Director Marcella A. Sampson M For For Inc. Valassis Communications, VCI 918866104 5/11/04 1.8 Elect Director Alan F. Schultz M For For Inc. Valassis Communications, VCI 918866104 5/11/04 1.9 Elect Director Faith Whittlesey M For For Inc. Valassis Communications, VCI 918866104 5/11/04 2 Ratify Auditors M For For Inc. Pactiv Corp. PTV 695257105 5/14/04 1.1 Elect Director Larry D. Brady M For For Pactiv Corp. PTV 695257105 5/14/04 1.2 Elect Director K. Dane Brooksher M For For Pactiv Corp. PTV 695257105 5/14/04 1.3 Elect Director Robert J. Darnall M For For Pactiv Corp. PTV 695257105 5/14/04 1.4 Elect Director Mary R. (Nina) Henderson M For For Pactiv Corp. PTV 695257105 5/14/04 1.5 Elect Director Roger B. Porter M For For Pactiv Corp. PTV 695257105 5/14/04 1.6 Elect Director Richard L. Wambold M For For Pactiv Corp. PTV 695257105 5/14/04 1.7 Elect Director Norman H. Wesley M For For Pactiv Corp. PTV 695257105 5/14/04 2 Ratify Auditors M For For Advanced Fibre AFCI 00754A105 5/20/04 1.1 Elect Director John A. Schofield M For For Communications, Inc. Advanced Fibre AFCI 00754A105 5/20/04 1.2 Elect Director Ruann F. Ernst M For For Communications, Inc. Advanced Fibre AFCI 00754A105 5/20/04 1.3 Elect Director Frank Ianna M For For Communications, Inc. Advanced Fibre AFCI 00754A105 5/20/04 2 Ratify Auditors M For For Communications, Inc. Benchmark Electronics, BHE 08160H101 5/11/04 1.1 Elect Director Donald E. Nigbor M For For Inc. Benchmark Electronics, BHE 08160H101 5/11/04 1.2 Elect Director Cary T. Fu M For For Inc. Benchmark Electronics, BHE 08160H101 5/11/04 1.3 Elect Director Steven A. Barton M For For Inc. Benchmark Electronics, BHE 08160H101 5/11/04 1.4 Elect Director John W. Cox M For For Inc. Benchmark Electronics, BHE 08160H101 5/11/04 1.5 Elect Director John C. Custer M For For Inc. Benchmark Electronics, BHE 08160H101 5/11/04 1.6 Elect Director Peter G. Dorflinger M For For Inc. Benchmark Electronics, BHE 08160H101 5/11/04 1.7 Elect Director Bernee D. L. Strom M For For Inc. Benchmark Electronics, BHE 08160H101 5/11/04 2 Amend Omnibus Stock Plan M For Against Inc. Benchmark Electronics, BHE 08160H101 5/11/04 3 Ratify Auditors M For For Inc. York International Corp YRK 986670107 5/20/04 1.1 Elect Director W. Michael Clevy M For For York International Corp YRK 986670107 5/20/04 1.2 Elect Director J. Roderick Heller, M For For III York International Corp YRK 986670107 5/20/04 1.3 Elect Director Robert F. B. Logan M For For York International Corp YRK 986670107 5/20/04 1.4 Elect Director Gerald C. McDonough M For For York International Corp YRK 986670107 5/20/04 1.5 Elect Director C. David Myers M For For York International Corp YRK 986670107 5/20/04 1.6 Elect Director Paul J. Powers M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ York International Corp YRK 986670107 5/20/04 1.7 Elect Director Donald M. Roberts M For For York International Corp YRK 986670107 5/20/04 1.8 Elect Director James A. Urry M For For York International Corp YRK 986670107 5/20/04 2 Amend Employee Stock Purchase Plan M For For York International Corp YRK 986670107 5/20/04 3 Amend Omnibus Stock Plan M For Against York International Corp YRK 986670107 5/20/04 4 Amend Executive Incentive Bonus M For For Plan York International Corp YRK 986670107 5/20/04 5 Ratify Auditors M For For CBL & Associates CBL 124830100 5/10/04 1.1 Elect Director Stephen D. Lebovitz M For For Properties, Inc. CBL & Associates CBL 124830100 5/10/04 1.2 Elect Director Winston W. Walker M For For Properties, Inc. CBL & Associates CBL 124830100 5/10/04 2 Ratify Auditors M For For Properties, Inc. Arbitron, Inc. ARB 03875Q108 5/17/04 1.1 Elect Director Alan Aldworth M For For Arbitron, Inc. ARB 03875Q108 5/17/04 1.2 Elect Director Erica Farber M For For Arbitron, Inc. ARB 03875Q108 5/17/04 1.3 Elect Director Kenneth F. Gorman M For For Arbitron, Inc. ARB 03875Q108 5/17/04 1.4 Elect Director Philip Guarascio M For For Arbitron, Inc. ARB 03875Q108 5/17/04 1.5 Elect Director Larry E. M For For Kittelberger Arbitron, Inc. ARB 03875Q108 5/17/04 1.6 Elect Director Stephen B. Morris M For For Arbitron, Inc. ARB 03875Q108 5/17/04 1.7 Elect Director Luis G. Nogales M For For Arbitron, Inc. ARB 03875Q108 5/17/04 1.8 Elect Director Lawrence Perlman M For For Arbitron, Inc. ARB 03875Q108 5/17/04 1.9 Elect Director Richard A. Post M For For Arbitron, Inc. ARB 03875Q108 5/17/04 2 Amend Omnibus Stock Plan M For Against Manor Care, Inc. HCR 564055101 5/5/04 1.1 Elect Director Virgis W. Colbert M For For Manor Care, Inc. HCR 564055101 5/5/04 1.2 Elect Director William H. Longfield M For For Manor Care, Inc. HCR 564055101 5/5/04 1.3 Elect Director Paul A. Ormond M For For Manor Care, Inc. HCR 564055101 5/5/04 2 Amend Omnibus Stock Plan M For For Manor Care, Inc. HCR 564055101 5/5/04 3 Declassify the Board of Directors M For For Manor Care, Inc. HCR 564055101 5/5/04 4 Ratify Auditors M For For Manor Care, Inc. HCR 564055101 5/5/04 5 Limit Executive Compensation S Against Against Denbury Resources Inc. DNR 247916208 5/12/04 1.1 Elect Director Ronald G. Greene M For For Denbury Resources Inc. DNR 247916208 5/12/04 1.2 Elect Director David I. Heather M For For Denbury Resources Inc. DNR 247916208 5/12/04 1.3 Elect Director William S. Price, M For For III Denbury Resources Inc. DNR 247916208 5/12/04 1.4 Elect Director Gareth Roberts M For For Denbury Resources Inc. DNR 247916208 5/12/04 1.5 Elect Director Wieland F. Wettstein M For For Denbury Resources Inc. DNR 247916208 5/12/04 1.6 Elect Director Carrie A. Wheeler M For For Denbury Resources Inc. DNR 247916208 5/12/04 2 Approve Omnibus Stock Plan M For For WELLCHOICE INC WC 949475107 5/19/04 1.1 Elect Director Philip Briggs M For Withhold WELLCHOICE INC WC 949475107 5/19/04 1.2 Elect Director Faye Wattleton M For Withhold WELLCHOICE INC WC 949475107 5/19/04 1.3 Elect Director Stephen Scheidt, M For Withhold M.D. WELLCHOICE INC WC 949475107 5/19/04 1.4 Elect Director Edward J. Malloy M For Withhold WELLCHOICE INC WC 949475107 5/19/04 2 Ratify Auditors M For For Radian Group Inc. RDN 750236101 5/11/04 1.1 Elect Director James W. Jennings M For For Radian Group Inc. RDN 750236101 5/11/04 1.2 Elect Director Roy J. Kasmar M For For Radian Group Inc. RDN 750236101 5/11/04 1.3 Elect Director Herbert Wender M For For Radian Group Inc. RDN 750236101 5/11/04 1.4 Elect Director Jan Nicholson M For For Radian Group Inc. RDN 750236101 5/11/04 2 Amend Omnibus Stock Plan M For Against Radian Group Inc. RDN 750236101 5/11/04 3 Amend Articles M For For Radian Group Inc. RDN 750236101 5/11/04 4 Ratify Auditors M For For Sandisk Corp. SNDK 80004C101 5/20/04 1.1 Elect Director Eli Harari M For For Sandisk Corp. SNDK 80004C101 5/20/04 1.2 Elect Director Irwin Federman M For For Sandisk Corp. SNDK 80004C101 5/20/04 1.3 Elect Director Judy Bruner M For For Sandisk Corp. SNDK 80004C101 5/20/04 1.4 Elect Director Michael E. Marks M For For Sandisk Corp. SNDK 80004C101 5/20/04 1.5 Elect Director James D. Meindl M For For Sandisk Corp. SNDK 80004C101 5/20/04 1.6 Elect Director Alan F. Shugart M For For Sandisk Corp. SNDK 80004C101 5/20/04 2 Ratify Auditors M For For Tesoro Petroleum Corp. TSO 881609101 5/11/04 1.1 Elect Director Robert W. Goldman M For For Tesoro Petroleum Corp. TSO 881609101 5/11/04 1.2 Elect Director Steven H. Grapstein M For For Tesoro Petroleum Corp. TSO 881609101 5/11/04 1.3 Elect Director William J. Johnson M For For Tesoro Petroleum Corp. TSO 881609101 5/11/04 1.4 Elect Director A. Maurice Myers M For For Tesoro Petroleum Corp. TSO 881609101 5/11/04 1.5 Elect Director Donald H. Schmude M For For Tesoro Petroleum Corp. TSO 881609101 5/11/04 1.6 Elect Director Bruce A. Smith M For For Tesoro Petroleum Corp. TSO 881609101 5/11/04 1.7 Elect Director Patrick J. Ward M For For Tesoro Petroleum Corp. TSO 881609101 5/11/04 2 Amend Non-Employee Director Stock M For Against Option Plan Tesoro Petroleum Corp. TSO 881609101 5/11/04 3 Amend Omnibus Stock Plan M For Against Tesoro Petroleum Corp. TSO 881609101 5/11/04 4 Ratify Auditors M For For Redwood Trust, Inc. RWT 758075402 5/6/04 1.1 Elect Director Richard D. Baum M For For Redwood Trust, Inc. RWT 758075402 5/6/04 1.2 Elect Director Mariann Byerwalter M For For Redwood Trust, Inc. RWT 758075402 5/6/04 1.3 Elect Director David L. Tyler M For For Redwood Trust, Inc. RWT 758075402 5/6/04 2 Ratify Auditors M For For Redwood Trust, Inc. RWT 758075402 5/6/04 3 Amend Omnibus Stock Plan M For Against Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Storage Technology Corp. STK 862111200 5/20/04 1.1 Elect Director James R. Adams M For For Storage Technology Corp. STK 862111200 5/20/04 1.2 Elect Director Charles E. Foster M For For Storage Technology Corp. STK 862111200 5/20/04 1.3 Elect Director Mercedes Johnson M For For Storage Technology Corp. STK 862111200 5/20/04 1.4 Elect Director William T. Kerr M For For Storage Technology Corp. STK 862111200 5/20/04 1.5 Elect Director Robert E. Lee M For For Storage Technology Corp. STK 862111200 5/20/04 1.6 Elect Director Patrick J. Martin M For For Storage Technology Corp. STK 862111200 5/20/04 1.7 Elect Director Judy C. Odom M For For Storage Technology Corp. STK 862111200 5/20/04 2 Approve Omnibus Stock Plan M For For Storage Technology Corp. STK 862111200 5/20/04 3 Approve Executive Incentive Bonus M For For Plan Storage Technology Corp. STK 862111200 5/20/04 4 Provide for Cumulative Voting S Against Against American Medical Systems AMMD 02744M108 5/6/04 1.1 Elect Director Jay Graf M For For Holdings, Inc. West Corporation WSTC 952355105 5/13/04 1.1 Elect Director Mary E. West M For Withhold West Corporation WSTC 952355105 5/13/04 1.2 Elect Director George H. Krauss M For Withhold West Corporation WSTC 952355105 5/13/04 2 Ratify Auditors M For For W. R. Berkley Corp. BER 084423102 5/11/04 1.1 Elect Director William R. Berkley, M For For Jr. W. R. Berkley Corp. BER 084423102 5/11/04 1.2 Elect Director Ronald E. Blaylock M For For W. R. Berkley Corp. BER 084423102 5/11/04 1.3 Elect Director Mark E. Brockbank M For For W. R. Berkley Corp. BER 084423102 5/11/04 1.4 Elect Director Rodney A. Hawes, Jr. M For For W. R. Berkley Corp. BER 084423102 5/11/04 2 Approve Executive Incentive Bonus M For For Plan W. R. Berkley Corp. BER 084423102 5/11/04 3 Increase Authorized Common Stock M For For W. R. Berkley Corp. BER 084423102 5/11/04 4 Ratify Auditors M For For Delphi Financial Group, Inc. DFG 247131105 5/5/04 1.1 Elect Director Donald A. Sherman M For For Delphi Financial Group, Inc. DFG 247131105 5/5/04 1.2 Elect Director Robert Rosenkranz M For For Delphi Financial Group, Inc. DFG 247131105 5/5/04 1.3 Elect Director Van D. Greenfield M For For Delphi Financial Group, Inc. DFG 247131105 5/5/04 1.4 Elect Director Robert M. Smith, Jr. M For For Delphi Financial Group, Inc. DFG 247131105 5/5/04 1.5 Elect Director Harold F. Ilg M For For Delphi Financial Group, Inc. DFG 247131105 5/5/04 1.6 Elect Director Lawrence E. Daurelle M For For Delphi Financial Group, Inc. DFG 247131105 5/5/04 1.7 Elect Director James N. Meehan M For For Delphi Financial Group, Inc. DFG 247131105 5/5/04 1.8 Elect Director Edward A. Fox M For For Delphi Financial Group, Inc. DFG 247131105 5/5/04 1.9 Elect Director Philip R. O'Connor M For For Delphi Financial Group, Inc. DFG 247131105 5/5/04 2 Amend Omnibus Stock Plan M For Against Delphi Financial Group, Inc. DFG 247131105 5/5/04 3 Approve Executive Incentive Bonus M For For Plan Delphi Financial Group, Inc. DFG 247131105 5/5/04 4 Divest from Tobacco Equities S Against Against Delphi Financial Group, Inc. DFG 247131105 5/5/04 5 Other Business M For Against Telik, Inc. TELK 87959M109 5/12/04 1.1 Elect Director M.M. Wick, M.D., M For For Ph.D. Telik, Inc. TELK 87959M109 5/12/04 1.2 Elect Director Richard Newman, Esq. M For For Telik, Inc. TELK 87959M109 5/12/04 2 Ratify Auditors M For For Comstock Resources, Inc. CRK 205768203 5/10/04 1.1 Elect Director Cecil E. Martin, Jr. M For For Comstock Resources, Inc. CRK 205768203 5/10/04 1.2 Elect Director Nancy E. Underwood M For For Comstock Resources, Inc. CRK 205768203 5/10/04 2 Ratify Auditors M For For National Financial Partners Corp. NFP 63607P208 5/19/04 1.1 Elect Director Stephanie Abramson M For For National Financial Partners Corp. NFP 63607P208 5/19/04 1.2 Elect Director Arthur Ainsberg M For For National Financial Partners Corp. NFP 63607P208 5/19/04 1.3 Elect Director Marc Becker M For For National Financial Partners Corp. NFP 63607P208 5/19/04 1.4 Elect Director Jessica Bibliowicz M For For National Financial Partners Corp. NFP 63607P208 5/19/04 1.5 Elect Director Matthew Goldstein M For For National Financial Partners Corp. NFP 63607P208 5/19/04 1.6 Elect Director Shari Loessberg M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ National Financial Partners Corp. NFP 63607P208 5/19/04 1.7 Elect Director Marc Rowan M For For National Financial Partners Corp. NFP 63607P208 5/19/04 2 Approve Executive Incentive Bonus M For For National Financial Plan Partners Corp. NFP 63607P208 5/19/04 3 Ratify Auditors M For For Foot Locker Inc FL 344849104 5/26/04 1.1 Elect Director James E. Preston M For Withhold Foot Locker Inc FL 344849104 5/26/04 1.2 Elect Director Matthew D. Serra M For Withhold Foot Locker Inc FL 344849104 5/26/04 1.3 Elect Director Christopher A. M For Withhold Sinclair Foot Locker Inc FL 344849104 5/26/04 1.4 Elect Director Dona D. Young M For Withhold Foot Locker Inc FL 344849104 5/26/04 2 Ratify Auditors M For For Nuevo Energy Co. NULL 670509108 5/14/04 1 Approve Merger Agreement M For For Abercrombie & Fitch Co. ANF 002896207 5/20/04 1.1 Elect Director John A. Golden M For For Abercrombie & Fitch Co. ANF 002896207 5/20/04 1.2 Elect Director Seth R. Johnson M For For Abercrombie & Fitch Co. ANF 002896207 5/20/04 1.3 Elect Director Edward F. Limato M For For Mohawk Industries, Inc. MHK 608190104 5/19/04 1.1 Elect Director Leo Benatar M For For Mohawk Industries, Inc. MHK 608190104 5/19/04 1.2 Elect Director Phyllis O. Bonanno M For For Mohawk Industries, Inc. MHK 608190104 5/19/04 1.3 Elect Director David L. Kolb M For For Mohawk Industries, Inc. MHK 608190104 5/19/04 1.4 Elect Director W. Christopher M For For Wellborn Trizec Properties, Inc. TRZ 89687P107 5/20/04 1.1 Elect Director Peter Munk M For For Trizec Properties, Inc. TRZ 89687P107 5/20/04 1.2 Elect Director Timothy Callahan M For For Trizec Properties, Inc. TRZ 89687P107 5/20/04 1.3 Elect Director L. Jay Cross M For For Trizec Properties, Inc. TRZ 89687P107 5/20/04 1.4 Elect Director Brian Mulroney M For For Trizec Properties, Inc. TRZ 89687P107 5/20/04 1.5 Elect Director James O'Connor M For For Trizec Properties, Inc. TRZ 89687P107 5/20/04 1.6 Elect Director Glenn Rufrano M For For Trizec Properties, Inc. TRZ 89687P107 5/20/04 1.7 Elect Director Richard Thomson M For For Trizec Properties, Inc. TRZ 89687P107 5/20/04 1.8 Elect Director Polyvios Vintiadis M For For Trizec Properties, Inc. TRZ 89687P107 5/20/04 1.9 Elect Director Stephen Volk M For For Trizec Properties, Inc. TRZ 89687P107 5/20/04 1.10 Elect Director Casey Wold M For For Trizec Properties, Inc. TRZ 89687P107 5/20/04 2 Ratify Auditors M For For Trizec Properties, Inc. TRZ 89687P107 5/20/04 3 Amend Articles M For Against The Student Loan Corporation STU 863902102 5/13/04 1.1 Elect Director Bill Beckmann M For Withhold The Student Loan Corporation STU 863902102 5/13/04 1.2 Elect Director Dr. Glenda B. Glover M For Withhold The Student Loan Corporation STU 863902102 5/13/04 1.3 Elect Director Yiannis Zographakis M For Withhold The Student Loan Corporation STU 863902102 5/13/04 2 Ratify Auditors M For For Georgia Gulf Corp. GGC 373200203 5/18/04 1.1 Elect Director Jerry R. Satrum M For For Georgia Gulf Corp. GGC 373200203 5/18/04 1.2 Elect Director Edward A. Schmitt M For For Georgia Gulf Corp. GGC 373200203 5/18/04 1.3 Elect Director Yoshi Kawashima M For For Georgia Gulf Corp. GGC 373200203 5/18/04 2 Ratify Auditors M For For Georgia Gulf Corp. GGC 373200203 5/18/04 3 Amend Omnibus Stock Plan M For Against Georgia Gulf Corp. GGC 373200203 5/18/04 4 Approve Executive Incentive Bonus M For For Plan Regal Entertainment Group RGC 758766109 5/12/04 1.1 Elect Director Thomas D. Bell, Jr. M For Withhold Regal Entertainment Group RGC 758766109 5/12/04 1.2 Elect Director Craig D. Slater M For Withhold Regal Entertainment Group RGC 758766109 5/12/04 2 Ratify Auditors M For For Harte-Hanks, Inc. HHS 416196103 5/18/04 1.1 Elect Director Larry Franklin M For For Harte-Hanks, Inc. HHS 416196103 5/18/04 1.2 Elect Director William F. Farley M For For Harte-Hanks, Inc. HHS 416196103 5/18/04 1.3 Elect Director William K. Gayden M For For Harte-Hanks, Inc. HHS 416196103 5/18/04 2 Amend Omnibus Stock Plan M For Against Ross Stores, Inc. ROST 778296103 5/20/04 1.1 Elect Director Michael J. Bush M For For Ross Stores, Inc. ROST 778296103 5/20/04 1.2 Elect Director Norman A. Ferber M For Withhold Ross Stores, Inc. ROST 778296103 5/20/04 1.3 Elect Director James C. Peters M For For Ross Stores, Inc. ROST 778296103 5/20/04 2 Approve Omnibus Stock Plan M For Against Ross Stores, Inc. ROST 778296103 5/20/04 3 Increase Authorized Common Stock M For For Ross Stores, Inc. ROST 778296103 5/20/04 4 Ratify Auditors M For For United Online, Inc. UNTD 911268100 5/6/04 1.1 Elect Director Robert Berglass M For For United Online, Inc. UNTD 911268100 5/6/04 1.2 Elect Director Kenneth L. Coleman M For For United Online, Inc. UNTD 911268100 5/6/04 2 Ratify Auditors M For For United Online, Inc. UNTD 911268100 5/6/04 3 Other Business M For Against RSA Security Inc. RSAS 749719100 5/27/04 1.1 Elect Director Gloria C. Larson M For For RSA Security Inc. RSAS 749719100 5/27/04 1.2 Elect Director Joseph B. Lassiter, M For For III RSA Security Inc. RSAS 749719100 5/27/04 1.3 Elect Director Charles R. Stuckey, M For For Jr. RSA Security Inc. RSAS 749719100 5/27/04 2 Ratify Auditors M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Reckson Associates Realty Corp. RA 75621K106 6/2/04 1 Declassify the Board of Directors M For For Reckson Associates Realty Corp. RA 75621K106 6/2/04 2 Amend Stock Ownership Limitations M For For Reckson Associates Realty Corp. RA 75621K106 6/2/04 3.1 Elect Director Peter Quick M For Withhold Reckson Associates Realty Corp. RA 75621K106 6/2/04 3.2 Elect Director Stanley Steinberg M For Withhold Reckson Associates Realty Corp. RA 75621K106 6/2/04 3.3 Elect Director John Ruffle M For Withhold Reckson Associates Realty Corp. RA 75621K106 6/2/04 3.4 Elect Director Elizabeth McCaul M For Withhold Reckson Associates Realty Corp. RA 75621K106 6/2/04 3.5 Elect Director Douglas Crocker II M For Withhold Reckson Associates Realty Corp. RA 75621K106 6/2/04 3.6 Elect Director Scott H. Rechler M For Withhold Reckson Associates Realty Corp. RA 75621K106 6/2/04 3.7 Elect Director Donald J. Rechler M For Withhold Reckson Associates Realty Corp. RA 75621K106 6/2/04 3.8 Elect Director Lewis S. Ranieri M For Withhold Reckson Associates Realty Corp. RA 75621K106 6/2/04 3.9 Elect Director Ronald H. Menaker M For Withhold Reckson Associates Realty Corp. RA 75621K106 6/2/04 4 Ratify Auditors M For For Community Health Systems, Inc. CYH 203668108 5/25/04 1.1 Elect Director W. Larry Cash M For For Community Health Systems, Inc. CYH 203668108 5/25/04 1.2 Elect Director J. Anthony Forstmann M For For Community Health Systems, Inc. CYH 203668108 5/25/04 1.3 Elect Director Harvey Klein, M.D. M For For Community Health Systems, Inc. CYH 203668108 5/25/04 1.4 Elect Director H. Mitchell Watson, M For For Jr. Community Health Systems, Inc. CYH 203668108 5/25/04 2 Approve Executive Incentive Bonus M For For Plan Community Health Systems, Inc. CYH 203668108 5/25/04 3 Ratify Auditors M For For Community Health Systems, Inc. CYH 203668108 5/25/04 4 Separate Chairman and CEO Positions S Against Against Terex Corp. TEX 880779103 5/25/04 1.1 Elect Director Ronald M. DeFeo M For For Terex Corp. TEX 880779103 5/25/04 1.2 Elect Director G. Chris Andersen M For For Terex Corp. TEX 880779103 5/25/04 1.3 Elect Director Don DeFosset M For For Terex Corp. TEX 880779103 5/25/04 1.4 Elect Director William H. Fike M For For Terex Corp. TEX 880779103 5/25/04 1.5 Elect Director Dr. Donald P. Jacobs M For For Terex Corp. TEX 880779103 5/25/04 1.6 Elect Director David A. Sachs M For For Terex Corp. TEX 880779103 5/25/04 1.7 Elect Director J. C. Watts, Jr. M For For Terex Corp. TEX 880779103 5/25/04 1.8 Elect Director Helge H. Wehmeier M For For Terex Corp. TEX 880779103 5/25/04 2 Ratify Auditors M For For Terex Corp. TEX 880779103 5/25/04 3 Amend Omnibus Stock Plan M For Against Terex Corp. TEX 880779103 5/25/04 4 Approve Executive Incentive Bonus M For For Plan Terex Corp. TEX 880779103 5/25/04 5 Approve Employee Stock Purchase M For For Plan Terex Corp. TEX 880779103 5/25/04 6 Approve Deferred Compensation Plan M For For Terex Corp. TEX 880779103 5/25/04 7 Approve Outside Director Stock M For For Options in Lieu of Cash Prime Hospitality Corp. PDQ 741917108 5/20/04 1.1 Elect Director Howard M. Lorber M For For Prime Hospitality Corp. PDQ 741917108 5/20/04 1.2 Elect Director Richard Szymanski M For For Chiquita Brands International, Inc. CQB 170032809 5/25/04 1.1 Elect Director Fernando Aguirre M For For Chiquita Brands International, Inc. CQB 170032809 5/25/04 1.2 Elect Director Morten Arntzen M For For Chiquita Brands International, Inc. CQB 170032809 5/25/04 1.3 Elect Director Jeffrey D. Benjamin M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Chiquita Brands International, Inc. CQB 170032809 5/25/04 1.4 Elect Director Robert W. Fisher M For For Chiquita Brands International, Inc. CQB 170032809 5/25/04 1.5 Elect Director Roderick M. Hills M For For Chiquita Brands International, Inc. CQB 170032809 5/25/04 1.6 Elect Director Durk I. Jager M For For Chiquita Brands International, Inc. CQB 170032809 5/25/04 1.7 Elect Director Jaime Serra M For For Chiquita Brands International, Inc. CQB 170032809 5/25/04 1.8 Elect Director Steven P. Stanbrook M For For VeriSign Inc VRSN 92343E102 5/27/04 1.1 Elect Director D. James Bidzos M For Withhold VeriSign Inc VRSN 92343E102 5/27/04 1.2 Elect Director William L. Chenevich M For Withhold VeriSign Inc VRSN 92343E102 5/27/04 1.3 Elect Director Gregory L. Reyes M For Withhold VeriSign Inc VRSN 92343E102 5/27/04 2 Ratify Auditors M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.1 Elect Director Mariann Byerwalter M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.2 Elect Director James C. Castle M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.3 Elect Director Carmine Guerro M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.4 Elect Director W. Roger Haughton M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.5 Elect Director Wayne E. Hedien M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.6 Elect Director Louis G. Lower II M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.7 Elect Director Raymond L. Ocampo M For For Jr. The PMI Group, Inc. PMI 69344M101 5/27/04 1.8 Elect Director John D. Roach M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.9 Elect Director Kenneth T. Rosen M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.10 Elect Director Steven L. Scheid M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.11 Elect Director L. Stephen Smith M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.12 Elect Director Richard L. Thomas M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.13 Elect Director Mary Lee Widener M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.14 Elect Director Ronald H. Zech M For For The PMI Group, Inc. PMI 69344M101 5/27/04 2 Ratify Auditors M For For The PMI Group, Inc. PMI 69344M101 5/27/04 3 Amend Omnibus Stock Plan M For For The PMI Group, Inc. PMI 69344M101 5/27/04 4 Approve Deferred Compensation Plan M For For The PMI Group, Inc. PMI 69344M101 5/27/04 5 Approve Executive Incentive Bonus M For For Plan Rent-A-Center, Inc. RCII 76009N100 5/19/04 1.1 Elect Director Mitchell E. Fadel M For For Rent-A-Center, Inc. RCII 76009N100 5/19/04 1.2 Elect Director Peter P. Copses M For For Rent-A-Center, Inc. RCII 76009N100 5/19/04 1.3 Elect Director Mary Elizabeth M For For Burton Rent-A-Center, Inc. RCII 76009N100 5/19/04 2 Increase Authorized Common Stock M For For Neurocrine Biosciences, Inc. NBIX 64125C109 5/26/04 1.1 Elect Director Richard F. Pops M For For Neurocrine Biosciences, Inc. NBIX 64125C109 5/26/04 1.2 Elect Director Stephen A. Sherwin, M For For M.D. Neurocrine Biosciences, Inc. NBIX 64125C109 5/26/04 2 Ratify Auditors M For For Neurocrine Biosciences, Inc. NBIX 64125C109 5/26/04 3 Amend Omnibus Stock Plan M For Against Commonwealth Telephone Enterprises, Inc. CTCO 203349105 5/19/04 1.1 Elect Director Frank M. Henry M For Withhold Commonwealth Telephone Enterprises, Inc. CTCO 203349105 5/19/04 1.2 Elect Director Michael J. Mahoney M For Withhold Commonwealth Telephone Enterprises, Inc. CTCO 203349105 5/19/04 1.3 Elect Director John J. Whyte M For Withhold Commonwealth Telephone Enterprises, Inc. CTCO 203349105 5/19/04 2 Ratify Auditors M For For Commonwealth Telephone Enterprises, Inc. CTCO 203349105 5/19/04 3 Approve Omnibus Stock Plan M For Against Micrel, Inc. MCRL 594793101 5/27/04 1.1 Elect Director Raymond D. Zinn M For For Micrel, Inc. MCRL 594793101 5/27/04 1.2 Elect Director Warren H. Muller M For Withhold Micrel, Inc. MCRL 594793101 5/27/04 1.3 Elect Director Larry L. Hansen M For For Micrel, Inc. MCRL 594793101 5/27/04 1.4 Elect Director George Kelly M For For Micrel, Inc. MCRL 594793101 5/27/04 1.5 Elect Director Donald Livingstone M For For Micrel, Inc. MCRL 594793101 5/27/04 2 Ratify Auditors M For For Medicines Company (The) MDCO 584688105 5/27/04 1.1 Elect Director William W. Crouse M For For Medicines Company (The) MDCO 584688105 5/27/04 1.2 Elect Director T. Scott Johnson M For For Medicines Company (The) MDCO 584688105 5/27/04 1.3 Elect Director David M. Stack M For For Medicines Company (The) MDCO 584688105 5/27/04 2 Ratify Auditors M For For Medicines Company (The) MDCO 584688105 5/27/04 3 Approve Omnibus Stock Plan M For Against Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Aspect Communications ASPT 04523Q102 5/27/04 1.1 Elect Director Barry M. Ariko M For Withhold Corp. Aspect Communications ASPT 04523Q102 5/27/04 1.1 Elect Director Barry M. Ariko M For Withhold Corp. Aspect Communications ASPT 04523Q102 5/27/04 1.2 Elect Director Donald P. Casey M For Withhold Corp. Aspect Communications ASPT 04523Q102 5/27/04 1.2 Elect Director Donald P. Casey M For Withhold Corp. Aspect Communications ASPT 04523Q102 5/27/04 1.3 Elect Director Norman A. Fogelsong M For Withhold Corp. Aspect Communications ASPT 04523Q102 5/27/04 1.3 Elect Director Norman A. Fogelsong M For Withhold Corp. Aspect Communications ASPT 04523Q102 5/27/04 1.4 Elect Director John W. Peth M For Withhold Corp. Aspect Communications ASPT 04523Q102 5/27/04 1.5 Elect Director Thomas Weatherford M For Withhold Corp. Aspect Communications ASPT 04523Q102 5/27/04 1.5 Elect Director Thomas Weatherford M For Withhold Corp. Aspect Communications ASPT 04523Q102 5/27/04 1.6 Elect Director David B. Wright M For Withhold Corp. Aspect Communications ASPT 04523Q102 5/27/04 1.6 Elect Director David B. Wright M For Withhold Corp. Aspect Communications ASPT 04523Q102 5/27/04 1.7 Elect Director Gary E. Barnett M For Withhold Corp. Aspect Communications ASPT 04523Q102 5/27/04 1.7 Elect Director Gary E. Barnett M For Withhold Corp. Aspect Communications ASPT 04523Q102 5/27/04 2 Amend Non-Employee Director Stock M For Against Corp. Option Plan Aspect Communications ASPT 04523Q102 5/27/04 2 Amend Non-Employee Director Stock M For Against Corp. Option Plan Aspect Communications ASPT 04523Q102 5/27/04 3 Amend Outside Director Stock M For For Corp. Awards/Options in Lieu of Cash Aspect Communications ASPT 04523Q102 5/27/04 3 Amend Outside Director Stock M For For Corp. Awards/Options in Lieu of Cash Aspect Communications ASPT 04523Q102 5/27/04 4 Ratify Auditors M For For Corp. Aspect Communications ASPT 04523Q102 5/27/04 4 Ratify Auditors M For For Corp. The Yankee Candle Company, YCC 984757104 6/16/04 1.1 Elect Director Dale F. Frey M For For Inc. The Yankee Candle Company, YCC 984757104 6/16/04 1.2 Elect Director Michael F. Hines M For For Inc. The Yankee Candle Company, YCC 984757104 6/16/04 1.3 Elect Director Ronald L. Sargent M For For Inc. The Yankee Candle Company, YCC 984757104 6/16/04 2 Ratify Auditors M For For Inc. Dj Orthopedics, Inc. DJO 23325G104 6/3/04 1.1 Elect Director Jack R. Blair M For For Dj Orthopedics, Inc. DJO 23325G104 6/3/04 1.2 Elect Director Mitchell J. Blutt, M For For M.D. Dj Orthopedics, Inc. DJO 23325G104 6/3/04 2 Ratify Auditors M For For Inamed Corp. IMDC 453235103 5/27/04 1.1 Elect Director Nicholas L. Teti M For For Inamed Corp. IMDC 453235103 5/27/04 1.2 Elect Director James E. Bolin M For For Inamed Corp. IMDC 453235103 5/27/04 1.3 Elect Director Malcolm R. Currie, M For For Ph.D. Inamed Corp. IMDC 453235103 5/27/04 1.4 Elect Director John C. Miles II M For For Inamed Corp. IMDC 453235103 5/27/04 1.5 Elect Director Mitchell S. M For For Rosenthal, M.D. Inamed Corp. IMDC 453235103 5/27/04 1.6 Elect Director Joy A. Amundson M For For Inamed Corp. IMDC 453235103 5/27/04 1.7 Elect Director Terry E. Vandewarker M For For Inamed Corp. IMDC 453235103 5/27/04 2 Increase Authorized Common Stock M For For Inamed Corp. IMDC 453235103 5/27/04 3 Approve Stock Option Plan M For For Inamed Corp. IMDC 453235103 5/27/04 4 Amend Restricted Stock Plan M For For Inamed Corp. IMDC 453235103 5/27/04 5 Ratify Auditors M For For Inamed Corp. IMDC 453235103 5/27/04 6 Other Business M For Against American Financial Realty AFR 02607P305 6/9/04 1.1 Elect Trustee Glenn Blumenthal M For For Trust American Financial Realty AFR 02607P305 6/9/04 1.2 Elect Trustee John M. Eggemeyer III M For For Trust American Financial Realty AFR 02607P305 6/9/04 1.3 Elect Trustee Raymond Garea M For For Trust Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ American Financial Realty AFR 02607P305 6/9/04 1.4 Elect Trustee Michael J. Hagan M For For Trust American Financial Realty AFR 02607P305 6/9/04 1.5 Elect Trustee John P. Hollihan III M For For Trust American Financial Realty AFR 02607P305 6/9/04 1.6 Elect Trustee William M. Kahane M For For Trust American Financial Realty AFR 02607P305 6/9/04 1.7 Elect Trustee Richard A. Kraemer M For For Trust American Financial Realty AFR 02607P305 6/9/04 1.8 Elect Trustee Lewis S. Ranieri M For For Trust American Financial Realty AFR 02607P305 6/9/04 1.9 Elect Trustee Nicholas S. Schorsch M For For Trust Bradley Pharmaceuticals, BDY 104576103 6/15/04 1.1 Elect Director Michael Bernstein M For Withhold Inc. Bradley Pharmaceuticals, BDY 104576103 6/15/04 1.2 Elect Director Steven Kriegsman M For Withhold Inc. Bradley Pharmaceuticals, BDY 104576103 6/15/04 1.3 Elect Director Alan Wolin, Ph.D. M For Withhold Inc. Electronics For Imaging, EFII 286082102 6/3/04 1.1 Elect Director Gill Cogan M For For Inc. Electronics For Imaging, EFII 286082102 6/3/04 1.2 Elect Director Jean-Louis Gassee M For For Inc. Electronics For Imaging, EFII 286082102 6/3/04 1.3 Elect Director Guy Gecht M For For Inc. Electronics For Imaging, EFII 286082102 6/3/04 1.4 Elect Director James S. Greene M For For Inc. Electronics For Imaging, EFII 286082102 6/3/04 1.5 Elect Director Dan Maydan M For For Inc. Electronics For Imaging, EFII 286082102 6/3/04 1.6 Elect Director Fred Rosenzweig M For For Inc. Electronics For Imaging, EFII 286082102 6/3/04 1.7 Elect Director Thomas I. Unterberg M For For Inc. Electronics For Imaging, EFII 286082102 6/3/04 1.8 Elect Director David Peterschmidt M For For Inc. Electronics For Imaging, EFII 286082102 6/3/04 2 Approve Omnibus Stock Plan M For Against Inc. SUPERVALU Inc. SVU 868536103 5/26/04 1.1 Elect Director Charles M. Lillis M For For SUPERVALU Inc. SVU 868536103 5/26/04 1.2 Elect Director Jeffrey Noodle M For For SUPERVALU Inc. SVU 868536103 5/26/04 1.3 Elect Director Steven S. Rogers M For For SUPERVALU Inc. SVU 868536103 5/26/04 1.4 Elect Director Ronald E. Daly M For For SUPERVALU Inc. SVU 868536103 5/26/04 1.5 Elect Director Marissa Peterson M For For SUPERVALU Inc. SVU 868536103 5/26/04 2 Ratify Auditors M For For SUPERVALU Inc. SVU 868536103 5/26/04 3 Require Affirmative Vote of the S Against Against Majority of the Shares to Elect Directors Michaels Stores, Inc. MIK 594087108 6/17/04 1.1 Elect Director Charles J. Wyly, Jr. M For For Michaels Stores, Inc. MIK 594087108 6/17/04 1.2 Elect Director Sam Wyly M For For Michaels Stores, Inc. MIK 594087108 6/17/04 1.3 Elect Director Richard E. Hanlon M For For Michaels Stores, Inc. MIK 594087108 6/17/04 1.4 Elect Director Richard C. Marcus M For For Michaels Stores, Inc. MIK 594087108 6/17/04 1.5 Elect Director Liz Minyard M For For Michaels Stores, Inc. MIK 594087108 6/17/04 1.6 Elect Director Cece Smith M For For Michaels Stores, Inc. MIK 594087108 6/17/04 2 Ratify Auditors M For For Michaels Stores, Inc. MIK 594087108 6/17/04 3 Increase Authorized Common Stock M For For Movie Gallery, Inc. MOVI 624581104 6/15/04 1.1 Elect Director Joe T. Malugen M For Withhold Movie Gallery, Inc. MOVI 624581104 6/15/04 1.2 Elect Director H. Harrison Parrish M For Withhold Movie Gallery, Inc. MOVI 624581104 6/15/04 1.3 Elect Director William B. Snow M For Withhold Movie Gallery, Inc. MOVI 624581104 6/15/04 1.4 Elect Director John J. Jump M For Withhold Movie Gallery, Inc. MOVI 624581104 6/15/04 1.5 Elect Director James C. Lockwood M For Withhold Movie Gallery, Inc. MOVI 624581104 6/15/04 2 Ratify Auditors M For For Flowserve Corp. FLS 34354P105 6/22/04 1.1 Elect Director Christopher A. M For For Bartlett Flowserve Corp. FLS 34354P105 6/22/04 1.2 Elect Director Hugh K. Coble M For For Flowserve Corp. FLS 34354P105 6/22/04 1.3 Elect Director George T. Haymaker, M For For Jr. Flowserve Corp. FLS 34354P105 6/22/04 1.4 Elect Director William C. Rusnack M For For Flowserve Corp. FLS 34354P105 6/22/04 2 Approve Omnibus Stock Plan M For For Claire CLE 179584107 6/23/04 1.1 Elect Director Marla L. Schaefer M For Withhold Claire CLE 179584107 6/23/04 1.2 Elect Director E. Bonnie Schaefer M For Withhold Claire CLE 179584107 6/23/04 1.3 Elect Director Ira D. Kaplan M For Withhold Claire CLE 179584107 6/23/04 1.4 Elect Director Bruce G. Miller M For Withhold Claire CLE 179584107 6/23/04 1.5 Elect Director Steven H. Tishman M For Withhold Claire CLE 179584107 6/23/04 1.6 Elect Director Todd D. Jick M For Withhold Claire CLE 179584107 6/23/04 1.7 Elect Director Ann Spector Leiff M For Withhold Claire CLE 179584107 6/23/04 2 Adopt MacBride Principles S Against Against Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Flextronics International FLEX Y2573F102 9/30/03 1 Reelect Richard Sharp as Director M For Against Ltd. Flextronics International FLEX Y2573F102 9/30/03 2a Reelect James Davidson as Director M For Against Ltd. Flextronics International FLEX Y2573F102 9/30/03 2b Reelect Lip-Bu Tan as Director M For Against Ltd. Flextronics International FLEX Y2573F102 9/30/03 3 Reelect Patrick Foley as Director M For Against Ltd. Flextronics International FLEX Y2573F102 9/30/03 4 Reappoint Deloitte & Touche as M For For Auditors and Authorize Board to Fix Their Remuneration Ltd. Flextronics International FLEX Y2573F102 9/30/03 5 Amend 1997 Employee Share Purchase M For For Plan Ltd. Flextronics International FLEX Y2573F102 9/30/03 6 Approve Issuance of Shares without M For For Preemptive Rights Ltd. Flextronics International FLEX Y2573F102 9/30/03 7 Approve Nonexecutive Directors' M For For Fees Ltd. Flextronics International FLEX Y2573F102 9/30/03 8 Authorize Share Repurchase Program M For For Ltd. BMC Software, Inc. BMC 055921100 8/21/03 1.1 Elect Director B. Garland Cupp M For For BMC Software, Inc. BMC 055921100 8/21/03 1.2 Elect Director Robert E. Beauchamp M For For BMC Software, Inc. BMC 055921100 8/21/03 1.3 Elect Director Jon E. Barfield M For For BMC Software, Inc. BMC 055921100 8/21/03 1.4 Elect Director John W. Barter M For For BMC Software, Inc. BMC 055921100 8/21/03 1.5 Elect Director Meldon K. Gafner M For For BMC Software, Inc. BMC 055921100 8/21/03 1.6 Elect Director L.W. Gray M For For BMC Software, Inc. BMC 055921100 8/21/03 1.7 Elect Director Kathleen A. O'Neil M For For BMC Software, Inc. BMC 055921100 8/21/03 1.8 Elect Director George F. Raymond M For For BMC Software, Inc. BMC 055921100 8/21/03 1.9 Elect Director Tom C. Tinsley M For For BMC Software, Inc. BMC 055921100 8/21/03 2 Ratify Auditors M For For Computer Associates CA 204912109 8/27/03 1.1 Elect Director Russell M. Artzt M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.2 Elect Director Kenneth Cron M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.3 Elect Director Alfonse M. D'Amato M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.4 Elect Director Gary J. Fernandes M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.5 Elect Director Sanjay Kumar M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.6 Elect Director Robert E. La Blanc M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.7 Elect Director Jay W. Lorsch M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.8 Elect Director Lewis S. Ranieri M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.9 Elect Director Walter P. Schuetze M For For International, Inc. Computer Associates CA 204912109 8/27/03 1.10 Elect Director Alex Serge Vieux M For For International, Inc. Computer Associates CA 204912109 8/27/03 2 Approve Non-Employee Director M For For Omnibus Stock Plan International, Inc. Computer Associates CA 204912109 8/27/03 3 Ratify Auditors M For For International, Inc. H. J. Heinz Co. HNZ 423074103 9/12/03 1.1 Elect Director William R. Johnson M For For H. J. Heinz Co. HNZ 423074103 9/12/03 1.2 Elect Director Charles E. Bunch M For For H. J. Heinz Co. HNZ 423074103 9/12/03 1.3 Elect Director Mary C. Choksi M For For H. J. Heinz Co. HNZ 423074103 9/12/03 1.4 Elect Director Leonard S. Coleman, M For For Jr. H. J. Heinz Co. HNZ 423074103 9/12/03 1.5 Elect Director Peter H. Coors M For For H. J. Heinz Co. HNZ 423074103 9/12/03 1.6 Elect Director Edith E. Holiday M For For H. J. Heinz Co. HNZ 423074103 9/12/03 1.7 Elect Director Candace Kendle M For For H. J. Heinz Co. HNZ 423074103 9/12/03 1.8 Elect Director Dean R. O'Hare M For For H. J. Heinz Co. HNZ 423074103 9/12/03 1.9 Elect Director Lynn C. Swann M For For H. J. Heinz Co. HNZ 423074103 9/12/03 1.10 Elect Director Thomas J. Usher M For For H. J. Heinz Co. HNZ 423074103 9/12/03 1.11 Elect Director James M. Zimmerman M For For H. J. Heinz Co. HNZ 423074103 9/12/03 2 Ratify Auditors M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Sara Lee Corp. SLE 803111103 10/30/03 1.1 Elect Director J.T. Battenberg III M For For Sara Lee Corp. SLE 803111103 10/30/03 1.2 Elect Director Charles W. Coker M For For Sara Lee Corp. SLE 803111103 10/30/03 1.3 Elect Director James S. Crown M For For Sara Lee Corp. SLE 803111103 10/30/03 1.4 Elect Director Willie D. Davis M For For Sara Lee Corp. SLE 803111103 10/30/03 1.5 Elect Director Vernon E. Jordan, M For For Jr. Sara Lee Corp. SLE 803111103 10/30/03 1.6 Elect Director Laurette T. Koellner M For For Sara Lee Corp. SLE 803111103 10/30/03 1.7 Elect Director Cornelis J.A. Van M For For Lede Sara Lee Corp. SLE 803111103 10/30/03 1.8 Elect Director Joan D. Manley M For For Sara Lee Corp. SLE 803111103 10/30/03 1.9 Elect Director Cary D. McMillan M For For Sara Lee Corp. SLE 803111103 10/30/03 1.10 Elect Director C. Steven McMillan M For For Sara Lee Corp. SLE 803111103 10/30/03 1.11 Elect Director Rozanne L. Ridgway M For For Sara Lee Corp. SLE 803111103 10/30/03 1.12 Elect Director Richard L. Thomas M For For Sara Lee Corp. SLE 803111103 10/30/03 2 Ratify Auditors M For For Sara Lee Corp. SLE 803111103 10/30/03 3 Report on Charitable Contributions S Again s t Against Sara Lee Corp. SLE 803111103 10/30/03 4 Implement and Monitor Code of S Again s t Against Corporate Conduct - ILO Standards General Mills, Inc. GIS 370334104 9/22/03 1.1 Elect Director Stephen R. Demeritt M For For General Mills, Inc. GIS 370334104 9/22/03 1.2 Elect Director Livio D. DeSimone M For For General Mills, Inc. GIS 370334104 9/22/03 1.3 Elect Director William T. Esrey M For For General Mills, Inc. GIS 370334104 9/22/03 1.4 Elect Director Raymond V. Gilmartin M For For General Mills, Inc. GIS 370334104 9/22/03 1.5 Elect Director Judith Richards Hope M For For General Mills, Inc. GIS 370334104 9/22/03 1.6 Elect Director Robert L. Johnson M For For General Mills, Inc. GIS 370334104 9/22/03 1.7 Elect Director John M. Keenan M For For General Mills, Inc. GIS 370334104 9/22/03 1.8 Elect Director Heidi G. Miller M For For General Mills, Inc. GIS 370334104 9/22/03 1.9 Elect Director Hilda Ochoa- M For For Brillembourg General Mills, Inc. GIS 370334104 9/22/03 1.10 Elect Director Stephen W. Sanger M For For General Mills, Inc. GIS 370334104 9/22/03 1.11 Elect Director A. Michael Spence M For For General Mills, Inc. GIS 370334104 9/22/03 1.12 Elect Director Dorothy A. Terrell M For For General Mills, Inc. GIS 370334104 9/22/03 1.13 Elect Director Raymond G. Viault M For For General Mills, Inc. GIS 370334104 9/22/03 1.14 Elect Director Paul S. Walsh M For For General Mills, Inc. GIS 370334104 9/22/03 2 Ratify Auditors M For For General Mills, Inc. GIS 370334104 9/22/03 3 Approve Omnibus Stock Plan M For Against Darden Restaurants, Inc. DRI 237194105 9/25/03 1.1 Elect Director Leonard L. Berry M For For Darden Restaurants, Inc. DRI 237194105 9/25/03 1.2 Elect Director Odie C. Donald M For For Darden Restaurants, Inc. DRI 237194105 9/25/03 1.3 Elect Director David H. Hughes M For For Darden Restaurants, Inc. DRI 237194105 9/25/03 1.4 Elect Director Joe R. Lee M For For Darden Restaurants, Inc. DRI 237194105 9/25/03 1.5 Elect Director Senator Connie M For For Mack, III Darden Restaurants, Inc. DRI 237194105 9/25/03 1.6 Elect Director Richard E. Rivera M For For Darden Restaurants, Inc. DRI 237194105 9/25/03 1.7 Elect Director Michael D. Rose M For For Darden Restaurants, Inc. DRI 237194105 9/25/03 1.8 Elect Director Maria A. Sastre M For For Darden Restaurants, Inc. DRI 237194105 9/25/03 1.9 Elect Director Jack A. Smith M For For Darden Restaurants, Inc. DRI 237194105 9/25/03 1.10 Elect Director Blaine Sweatt, III M For For Darden Restaurants, Inc. DRI 237194105 9/25/03 1.11 Elect Director Rita P. Wilson M For For Darden Restaurants, Inc. DRI 237194105 9/25/03 2 Ratify Auditors M For For King Pharmaceuticals Inc. KG 495582108 11/4/03 1.1 Elect Director Earnest W. M For For Deavenport, Jr. as Class II Director King Pharmaceuticals Inc. KG 495582108 11/4/03 1.2 Elect Director Elizabeth M. M For For Greetham as Class II Director King Pharmaceuticals Inc. KG 495582108 11/4/03 1.3 Elect Director James R. Lattanzi as M For For Class III Director King Pharmaceuticals Inc. KG 495582108 11/4/03 1.4 Elect Director Philip M. Pfeffer as M For For Class II Director King Pharmaceuticals Inc. KG 495582108 11/4/03 1.5 Elect Director Ted G. Wood as Class M For For I Director King Pharmaceuticals Inc. KG 495582108 11/4/03 2 Ratify Auditors M For For Apache Corp. APA 037411105 12/18/03 1 Increase Authorized Common Stock M For For Boise Cascade Corp. BCC 097383103 12/9/03 1 Approve Merger Agreement M For For Boise Cascade Corp. BCC 097383103 12/9/03 2 Approve Omnibus Stock Plan M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.1 Elect Director L.T. Babbio, Jr. M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.1 Elect Director L.T. Babbio, Jr. M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.2 Elect Director P.C. Dunn M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.2 Elect Director P.C. Dunn M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.3 Elect Director C.S. Fiorina M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.3 Elect Director C.S. Fiorina M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.4 Elect Director R.A. Hackborn M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.4 Elect Director R.A. Hackborn M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.5 Elect Director G.A. Keyworth II M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Hewlett-Packard Co. HPQ 428236103 3/17/04 1.5 Elect Director G.A. Keyworth II M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.6 Elect Director R.E. Knowling, Jr. M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.6 Elect Director R.E. Knowling, Jr. M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.7 Elect Director S.M. Litvack M For Withhold Hewlett-Packard Co. HPQ 428236103 3/17/04 1.7 Elect Director S.M. Litvack M For Withhold Hewlett-Packard Co. HPQ 428236103 3/17/04 1.8 Elect Director R.L. Ryan M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.8 Elect Director R.L. Ryan M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.9 Elect Director L.S. Salhany M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 1.9 Elect Director L.S. Salhany M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 2 Ratify Auditors M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 2 Ratify Auditors M For For Hewlett-Packard Co. HPQ 428236103 3/17/04 3 Approve Omnibus Stock Plan M For Against Hewlett-Packard Co. HPQ 428236103 3/17/04 3 Approve Omnibus Stock Plan M For Against Hewlett-Packard Co. HPQ 428236103 3/17/04 4 Expense Stock Options S Against Against Hewlett-Packard Co. HPQ 428236103 3/17/04 4 Expense Stock Options S Against Against The Walt Disney Company DIS 254687106 3/3/04 1.1 Elect Director John E. Bryson M For For The Walt Disney Company DIS 254687106 3/3/04 1.2 Elect Director John S. Chen M For For The Walt Disney Company DIS 254687106 3/3/04 1.3 Elect Director Michael D. Eisner M For Withhold The Walt Disney Company DIS 254687106 3/3/04 1.4 Elect Director Judith L. Estrin M For For The Walt Disney Company DIS 254687106 3/3/04 1.5 Elect Director Robert A. Iger M For For The Walt Disney Company DIS 254687106 3/3/04 1.6 Elect Director Aylwin B. Lewis M For For The Walt Disney Company DIS 254687106 3/3/04 1.7 Elect Director Monica C. Lozano M For For The Walt Disney Company DIS 254687106 3/3/04 1.8 Elect Director Robert W. M For For Matschullat The Walt Disney Company DIS 254687106 3/3/04 1.9 Elect Director George J. Mitchell M For For The Walt Disney Company DIS 254687106 3/3/04 1.10 Elect Director Leo J. O'Donovan, M For For S.J. The Walt Disney Company DIS 254687106 3/3/04 1.11 Elect Director Gary L. Wilson M For For The Walt Disney Company DIS 254687106 3/3/04 2 Ratify Auditors M For For The Walt Disney Company DIS 254687106 3/3/04 3 China Principles S Against Against The Walt Disney Company DIS 254687106 3/3/04 4 Report on Supplier Labor Standards S Against Against in China The Walt Disney Company DIS 254687106 3/3/04 5 Report on Amusement Park Safety S Against Against Tyco International Ltd. TYC 902124106 3/25/04 1.1 Elect Director Dennis C. Blair M For For Tyco International Ltd. TYC 902124106 3/25/04 1.2 Elect Director Edward D. Breen M For For Tyco International Ltd. TYC 902124106 3/25/04 1.3 Elect Director George W. Buckley M For For Tyco International Ltd. TYC 902124106 3/25/04 1.4 Elect Director Brian Duperreault M For For Tyco International Ltd. TYC 902124106 3/25/04 1.5 Elect Director Bruce S. Gordon M For For Tyco International Ltd. TYC 902124106 3/25/04 1.6 Elect Director John A. Krol M For For Tyco International Ltd. TYC 902124106 3/25/04 1.7 Elect Director Mackey J. Mcdonald M For For Tyco International Ltd. TYC 902124106 3/25/04 1.8 Elect Director H. Carl Mccall M For Withhold Tyco International Ltd. TYC 902124106 3/25/04 1.9 Elect Director Brendan R. O'Neill M For For Tyco International Ltd. TYC 902124106 3/25/04 1.10 Elect Director Sandra S. Wijnberg M For Withhold Tyco International Ltd. TYC 902124106 3/25/04 1.11 Elect Director Jerome B. York M For For Tyco International Ltd. TYC 902124106 3/25/04 2 Ratify Auditors M For For Tyco International Ltd. TYC 902124106 3/25/04 3 ADOPTION OF THE AMENDED AND M For For RESTATED BYE-LAWS. Tyco International Ltd. TYC 902124106 3/25/04 4 APPROVAL OF TYCO 2004 STOCK AND M For For INCENTIVE PLAN. Tyco International Ltd. TYC 902124106 3/25/04 5 SHAREHOLDER PROPOSAL REGARDING M For For ENVIRONMENTAL REPORTING. Tyco International Ltd. TYC 902124106 3/25/04 6 SHAREHOLDER PROPOSAL TO CHANGE S Against Against TYCO S JURISDICTION OF INCORPORATION FROM BERMUDA TO A U.S. STATE. Tyco International Ltd. TYC 902124106 3/25/04 7 SHAREHOLDER PROPOSAL ON COMMON S Against Against SENSE EXECUTIVE COMPENSATION. Bank of America Corp. BAC 060505104 3/17/04 1 Approve Merger Agreement M For For Bank of America Corp. BAC 060505104 3/17/04 2 Amend Omnibus Stock Plan M For For Bank of America Corp. BAC 060505104 3/17/04 3 Increase Authorized Common Stock M For For Bank of America Corp. BAC 060505104 3/17/04 4 Adjourn Meeting M For For Canadian National CNR 136375102 4/22/04 1.1 Elect Director Michael R. Armellino M For For Railway Co. Canadian National CNR 136375102 4/22/04 1.2 Elect Director A. Charles Baillie M For For Railway Co. Canadian National CNR 136375102 4/22/04 1.3 Elect Director Hugh J. Bolton M For For Railway Co. Canadian National CNR 136375102 4/22/04 1.4 Elect Director Purdy Crawford M For For Railway Co. Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Canadian National CNR 136375102 4/22/04 1.5 Elect Director J.V. Raymond Cyr M For For Railway Co. Canadian National CNR 136375102 4/22/04 1.6 Elect Director Gordon D. Giffin M For For Railway Co. Canadian National CNR 136375102 4/22/04 1.7 Elect Director James K. Gray M For For Railway Co. Canadian National CNR 136375102 4/22/04 1.8 Elect Director E. Hunter Harrison M For For Railway Co. Canadian National CNR 136375102 4/22/04 1.9 Elect Director Edith E. Holiday M For For Railway Co. Canadian National CNR 136375102 4/22/04 1.10 Elect Director V.M. Kempston Darkes M For For Railway Co. Canadian National CNR 136375102 4/22/04 1.11 Elect Director Gilbert H. Lamphere M For For Railway Co. Canadian National CNR 136375102 4/22/04 1.12 Elect Director Denis Losier M For For Railway Co. Canadian National CNR 136375102 4/22/04 1.13 Elect Director Edward C. Lumley M For For Railway Co. Canadian National CNR 136375102 4/22/04 1.14 Elect Director David G.A. Mclean M For For Railway Co. Canadian National CNR 136375102 4/22/04 1.15 Elect Director Robert Pace M For For Railway Co. Canadian National CNR 136375102 4/22/04 2 Ratify Auditors M For For Railway Co. Travelers Property NULL 89420G406 3/19/04 1 Approve Merger Agreement M For For Casualty Corp. Freddie Mac FRE 313400301 3/31/04 1.1 Elect Director Joan E. Donoghue M For For Freddie Mac FRE 313400301 3/31/04 1.2 Elect Director Michelle Engler M For For Freddie Mac FRE 313400301 3/31/04 1.3 Elect Director Richard Karl Goeltz M For For Freddie Mac FRE 313400301 3/31/04 1.4 Elect Director George D. Gould M For For Freddie Mac FRE 313400301 3/31/04 1.5 Elect Director Henry Kaufman M For For Freddie Mac FRE 313400301 3/31/04 1.6 Elect Director John B. Mccoy M For For Freddie Mac FRE 313400301 3/31/04 1.7 Elect Director Shaun F. O'Malley M For For Freddie Mac FRE 313400301 3/31/04 1.8 Elect Director Ronald F. Poe M For For Freddie Mac FRE 313400301 3/31/04 1.9 Elect Director Stephen A. Ross M For For Freddie Mac FRE 313400301 3/31/04 1.10 Elect Director Donald J. Schuenke M For For Freddie Mac FRE 313400301 3/31/04 1.11 Elect Director Christina Seix M For For Freddie Mac FRE 313400301 3/31/04 1.12 Elect Director Richard F. Syron M For For Freddie Mac FRE 313400301 3/31/04 1.13 Elect Director William J. Turner M For For Freddie Mac FRE 313400301 3/31/04 2 Ratify Auditors M For For BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 1.1 Elect Director Lord Browne M For For Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 1.2 Elect Director Dr B E Grote M For For Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 1.3 Elect Director Mr H M P Miles M For For Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 1.4 Elect Director Sir Robin Nicholson M For For Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 1.5 Elect Director Mr R L Olver M For For Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 1.6 Elect Director Sir Ian Prosser M For For Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 2 TO ELECT MR A BURGMANS AS A M For For DIRECTOR Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 3 Ratify Auditors M For For Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 4 TO AMEND THE ARTICLES OF M For For ASSOCIATION OF THE COMPANY Plc) Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 5 TO GIVE AUTHORITY TO ALLOT SHARES M For For UP TO A SPECIFIED AMOUNT Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 6 SPECIAL RESOLUTION: TO GIVE M For For AUTHORITY TO ALLOT A LIMITED NUMBER OF SHARES FOR CASH WITHOUT MAKING AN OFFER TO SHAREHOLDERS Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 7 SPECIAL RESOLUTION: TO GIVE LIMITED M For For AUTHORITY FOR THE PURCHASE OF ITS OWN SHARES BY THE COMPANY Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 8 TO AUTHORISE THE USE OF TREASURY M For For SHARES FOR EMPLOYEE SHARE SCHEMES Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 9 TO APPROVE THE DIRECTORS M For For REMUNERATION REPORT Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 10 TO DETERMINE THE LIMIT FOR THE M For For AGGREGATE REMUNERATION OF THE NON- EXECUTIVE DIRECTORS Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 11 TO RECEIVE THE DIRECTORS ANNUAL M For For REPORT AND THE ACCOUNTS Plc) BP PLC (Form. Bp Amoco NULL 055622104 4/15/04 12 SPECIAL SHAREHOLDER RESOLUTION: TO S Against Against INSTRUCT THE COMPANY TO PREPARE A REPORT MAKING CERTAIN DISCLOSURES ON MATTERS OF CONTROL AND RISK IN PROTECTED AND SENSITIVE AREAS Plc) U.S. Bancorp USB 902973304 4/20/04 1.1 Elect Director Victoria Buyniski M For For Gluckman U.S. Bancorp USB 902973304 4/20/04 1.2 Elect Director Arthur D. Collins, M For For Jr. U.S. Bancorp USB 902973304 4/20/04 1.3 Elect Director Jerry W. Levin M For For U.S. Bancorp USB 902973304 4/20/04 1.4 Elect Director Thomas E. Petry M For For U.S. Bancorp USB 902973304 4/20/04 1.5 Elect Director Richard G. Reiten M For Withhold U.S. Bancorp USB 902973304 4/20/04 2 Ratify Auditors M For For U.S. Bancorp USB 902973304 4/20/04 3 Limit Executive Compensation S Against Against U.S. Bancorp USB 902973304 4/20/04 4 Submit Executive Compensation to Vote S Against Against U.S. Bancorp USB 902973304 4/20/04 5 Amend Vote Requirements to Amend Articles/Bylaws/Charter S Against For SunTrust Banks, Inc. STI 867914103 4/20/04 1.1 Elect Director J. Hicks Lanier M For For SunTrust Banks, Inc. STI 867914103 4/20/04 1.2 Elect Director Larry L. Prince M For For SunTrust Banks, Inc. STI 867914103 4/20/04 1.3 Elect Director Frank S. Royal, M.D. M For For SunTrust Banks, Inc. STI 867914103 4/20/04 1.4 Elect Director Robert M. Beall, II M For For SunTrust Banks, Inc. STI 867914103 4/20/04 1.5 Elect Director Jeffrey C. Crowe M For For SunTrust Banks, Inc. STI 867914103 4/20/04 2 Ratify Auditors M For For SunTrust Banks, Inc. STI 867914103 4/20/04 3 Approve Omnibus Stock Plan M For For SouthTrust Corp. SOTR 844730101 4/21/04 1.1 Elect Director Carl F. Bailey M For For SouthTrust Corp. SOTR 844730101 4/21/04 1.2 Elect Director John M. Bradford M For For SouthTrust Corp. SOTR 844730101 4/21/04 1.3 Elect Director William C. Hulsey M For For SouthTrust Corp. SOTR 844730101 4/21/04 1.4 Elect Director Wallace D. Malone, M For For Jr. SouthTrust Corp. SOTR 844730101 4/21/04 2 Ratify Auditors M For For SouthTrust Corp. SOTR 844730101 4/21/04 3 Approve Executive Incentive Bonus M For For Plan SouthTrust Corp. SOTR 844730101 4/21/04 4 Approve Omnibus Stock Plan M For For PPG Industries, Inc. PPG 693506107 4/15/04 1.1 Elect Director James G. Berges M For For PPG Industries, Inc. PPG 693506107 4/15/04 1.2 Elect Director Erroll B. Davis, Jr. M For For PPG Industries, Inc. PPG 693506107 4/15/04 1.3 Elect Director Victoria F. Haynes M For For PPG Industries, Inc. PPG 693506107 4/15/04 1.4 Elect Director Allen J. Krowe M For For PPG Industries, Inc. PPG 693506107 4/15/04 2 Ratify Auditors M For For Merrill Lynch & Co., Inc. MER 590188108 4/23/04 1.1 Elect Director David K. Newbigging M For For Merrill Lynch & Co., Inc. MER 590188108 4/23/04 1.2 Elect Director Joseph W. Prueher M For For Merrill Lynch & Co., Inc. MER 590188108 4/23/04 2 Ratify Auditors M For For Merrill Lynch & Co., Inc. MER 590188108 4/23/04 3 Restore or Provide for Cumulative S Against Against Voting Merrill Lynch & Co., Inc. MER 590188108 4/23/04 4 Separate Chairman and CEO Positions S Against Against Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Sonoco Products Co. SON 835495102 4/21/04 1.1 Elect Director F.L.H. Coker M For For Sonoco Products Co. SON 835495102 4/21/04 1.2 Elect Director C.C. Fort M For For Sonoco Products Co. SON 835495102 4/21/04 1.3 Elect Director B.L.M. Kasriel M For For Sonoco Products Co. SON 835495102 4/21/04 1.4 Elect Director J.H. Mullin, III M For For Sonoco Products Co. SON 835495102 4/21/04 1.5 Elect Director T.E. Whiddon M For For Sonoco Products Co. SON 835495102 4/21/04 1.6 Elect Director J.M. Micali M For For Sonoco Products Co. SON 835495102 4/21/04 2 Seek Sale of Company/Assets S Against Against Johnson & Johnson JNJ 478160104 4/22/04 1.1 Elect Director Gerard N. Burrow M For For Johnson & Johnson JNJ 478160104 4/22/04 1.2 Elect Director Mary S. Coleman M For For Johnson & Johnson JNJ 478160104 4/22/04 1.3 Elect Director James G. Cullen M For For Johnson & Johnson JNJ 478160104 4/22/04 1.4 Elect Director Robert J. Darretta M For For Johnson & Johnson JNJ 478160104 4/22/04 1.5 Elect Director M. Judah Folkman M For For Johnson & Johnson JNJ 478160104 4/22/04 1.6 Elect Director Ann D. Jordan M For For Johnson & Johnson JNJ 478160104 4/22/04 1.7 Elect Director Arnold G. Langbo M For For Johnson & Johnson JNJ 478160104 4/22/04 1.8 Elect Director Susan L. Lindquist M For For Johnson & Johnson JNJ 478160104 4/22/04 1.9 Elect Director Leo F. Mullin M For For Johnson & Johnson JNJ 478160104 4/22/04 1.10 Elect Director Steven S Reinemund M For For Johnson & Johnson JNJ 478160104 4/22/04 1.11 Elect Director David Satcher M For For Johnson & Johnson JNJ 478160104 4/22/04 1.12 Elect Director Henry B. Schacht M For For Johnson & Johnson JNJ 478160104 4/22/04 1.13 Elect Director William C. Weldon M For For Johnson & Johnson JNJ 478160104 4/22/04 2 Ratify Auditors M For For Johnson & Johnson JNJ 478160104 4/22/04 3 Cease Charitable Contributions S Against Against International Business IBM 459200101 4/27/04 1.1 Elect Director Cathleen Black M For For Machines Corp. International Business IBM 459200101 4/27/04 1.2 Elect Director Kenneth I. Chenault M For For Machines Corp. International Business IBM 459200101 4/27/04 1.3 Elect Director Carlos Ghosn M For For Machines Corp. International Business IBM 459200101 4/27/04 1.4 Elect Director Nannerl O. Keohane M For For Machines Corp. International Business IBM 459200101 4/27/04 1.5 Elect Director Charles F. Knight M For For Machines Corp. International Business IBM 459200101 4/27/04 1.6 Elect Director Lucio A. Noto M For For Machines Corp. International Business IBM 459200101 4/27/04 1.7 Elect Director Samuel J. Palmisano M For For Machines Corp. International Business IBM 459200101 4/27/04 1.8 Elect Director John B. Slaughter M For For Machines Corp. International Business IBM 459200101 4/27/04 1.9 Elect Director Joan E. Spero M For For Machines Corp. International Business IBM 459200101 4/27/04 1.10 Elect Director Sidney Taurel M For For Machines Corp. International Business IBM 459200101 4/27/04 1.11 Elect Director Charles M. Vest M For For Machines Corp. International Business IBM 459200101 4/27/04 1.12 Elect Director Lorenzo H. Zambrano M For For Machines Corp. International Business IBM 459200101 4/27/04 2 Ratify Auditors M For For Machines Corp. International Business IBM 459200101 4/27/04 3 Ratify Auditors for the Company's M For For Business Consulting Services Unit Machines Corp. International Business IBM 459200101 4/27/04 4 Approve Executive Incentive Bonus M For For Plan Machines Corp. International Business IBM 459200101 4/27/04 5 Provide for Cumulative Voting S Against Against Machines Corp. International Business IBM 459200101 4/27/04 6 Amend Pension and Retirement S Against Against Medical Insurance Plans Machines Corp. International Business IBM 459200101 4/27/04 7 Submit Executive Compensation to S Against Against Vote Machines Corp. International Business IBM 459200101 4/27/04 8 Expense Stock Options A A ggainst A gainst Machines Corp. International Business IBM 459200101 4/27/04 9 Limit Awards to Executives S Against Against Machines Corp. International Business IBM 459200101 4/27/04 10 China Principles S Against Against Machines Corp. International Business IBM 459200101 4/27/04 11 Report on Political Contributions/ S Against Against Activities Machines Corp. International Business IBM 459200101 4/27/04 12 Report on Executive Compensation S Against Against Machines Corp. Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Bellsouth Corp. BLS 079860102 4/26/04 1.1 Elect Director James H. Blanchard M For For Bellsouth Corp. BLS 079860102 4/26/04 1.2 Elect Director Armando M. Codina M For For Bellsouth Corp. BLS 079860102 4/26/04 1.3 Elect Director Leo F. Mullin M For For Bellsouth Corp. BLS 079860102 4/26/04 2 Ratify Auditors M For For Bellsouth Corp. BLS 079860102 4/26/04 3 Declassify the Board of Directors M For For Bellsouth Corp. BLS 079860102 4/26/04 4 Approve Omnibus Stock Plan M For For Bellsouth Corp. BLS 079860102 4/26/04 5 Limit Executive Compensation S Against Against Bellsouth Corp. BLS 079860102 4/26/04 6 Limit Executive Compensation S Against Against Bellsouth Corp. BLS 079860102 4/26/04 7 Report on Political Contributions/ S Against Against Activities Pfizer Inc. PFE 717081103 4/22/04 1.1 Elect Director Michael S. Brown M For For Pfizer Inc. PFE 717081103 4/22/04 1.2 Elect Director M. Anthony Burns M For For Pfizer Inc. PFE 717081103 4/22/04 1.3 Elect Director Robert N. Burt M For For Pfizer Inc. PFE 717081103 4/22/04 1.4 Elect Director W. Don Cornwell M For For Pfizer Inc. PFE 717081103 4/22/04 1.5 Elect Director William H. Gray III M For For Pfizer Inc. PFE 717081103 4/22/04 1.6 Elect Director Constance J. Horner M For For Pfizer Inc. PFE 717081103 4/22/04 1.7 Elect Director William R. Howell M For For Pfizer Inc. PFE 717081103 4/22/04 1.8 Elect Director Stanley O. Ikenberry M For For Pfizer Inc. PFE 717081103 4/22/04 1.9 Elect Director George A. Lorch M For For Pfizer Inc. PFE 717081103 4/22/04 1.10 Elect Director Henry A. Mckinnell M For For Pfizer Inc. PFE 717081103 4/22/04 1.11 Elect Director Dana G. Mead M For For Pfizer Inc. PFE 717081103 4/22/04 1.12 Elect Director Franklin D. Raines M For For Pfizer Inc. PFE 717081103 4/22/04 1.13 Elect Director Ruth J. Simmons M For For Pfizer Inc. PFE 717081103 4/22/04 1.14 Elect Director William C. Steere, M For For Jr. Pfizer Inc. PFE 717081103 4/22/04 1.15 Elect Director Jean-Paul Valles M For For Pfizer Inc. PFE 717081103 4/22/04 2 Ratify Auditors M For For Pfizer Inc. PFE 717081103 4/22/04 3 Approve Omnibus Stock Plan M For For Pfizer Inc. PFE 717081103 4/22/04 4 Report on Operational Impact of S Against Against HIV/AIDS, TB, and Malaria Pandemic Pfizer Inc. PFE 717081103 4/22/04 5 Cease Political Contributions/ S Against Against Activities Pfizer Inc. PFE 717081103 4/22/04 6 Report on Political Contributions/ S Against Against Activities Pfizer Inc. PFE 717081103 4/22/04 7 Establish Term Limits for Directors S Against Against Pfizer Inc. PFE 717081103 4/22/04 8 Report on Drug Pricing S Against Against Pfizer Inc. PFE 717081103 4/22/04 9 Limit Awards to Executives S Against Against Pfizer Inc. PFE 717081103 4/22/04 10 Amend Animal Testing Policy S Against Against M & T Bank Corp. MTB 55261F104 4/20/04 1.1 Elect Director William F. Allyn M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.2 Elect Director Brent D. Baird M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.3 Elect Director Robert J. Bennett M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.4 Elect Director C. Angela Bontempo M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.5 Elect Director Robert T. Brady M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.6 Elect Director Emerson L. Brumback M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.7 Elect Director Michael D. Buckley M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.8 Elect Director Patrick J. Callan M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.9 Elect Director R. Carlos Carballada M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.10 Elect Director T. Jefferson M For Withhold Cunningham III M & T Bank Corp. MTB 55261F104 4/20/04 1.11 Elect Director Donald Devorris M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.12 Elect Director Richard E. Garman M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.13 Elect Director James V. Glynn M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.14 Elect Director Derek C. Hathaway M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.15 Elect Director Daniel R. Hawbaker M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.16 Elect Director Patrick W.E. Hodgson M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.17 Elect Director Gary Kennedy M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.18 Elect Director Richard G. King M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.19 Elect Director Reginald B. Newman, M For Withhold II M & T Bank Corp. MTB 55261F104 4/20/04 1.20 Elect Director Jorge G. Pereira M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.21 Elect Director Michael P. Pinto M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.22 Elect Director Robert E. Sadler, Jr.M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.23 Elect Director Eugene J. Sheehy M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.24 Elect Director Stephen G. Sheetz M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 1.25 Elect Director Herbert L. M For Withhold Washington M & T Bank Corp. MTB 55261F104 4/20/04 1.26 Elect Director Robert G. Wilmers M For Withhold M & T Bank Corp. MTB 55261F104 4/20/04 2 Ratify Auditors M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 1.1 Elect Director John R. Alm M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 1.2 Elect Director J. Trevor Eyton M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 1.3 Elect Director Gary P. Fayard M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 1.4 Elect Director L. Phillip Humann M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 1.5 Elect Director Paula G. Rosput M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 2 Approve Executive Incentive Bonus M For For Plan Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 3 Approve Omnibus Stock Plan M For Against Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 4 Amend Deferred Compensation Plan M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 5 Approve Employee Stock Purchase M For For Plan Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 6 Approve Employee Stock Purchase M For For Plan Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 7 Ratify Auditors M For For Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 8 Submit Severance Agreement (Change- S Against For in-Control) to Shareholder Vote Coca-Cola Enterprises Inc. CCE 191219104 4/30/04 9 Report on Recycling Policy S Against Against Abbott Laboratories ABT 002824100 4/23/04 1.1 Elect Director Roxanne S. Austin M For For Abbott Laboratories ABT 002824100 4/23/04 1.2 Elect Director H.Laurance Fuller M For For Abbott Laboratories ABT 002824100 4/23/04 1.3 Elect Director Richard A. Gonzalez M For For Abbott Laboratories ABT 002824100 4/23/04 1.4 Elect Director Jack M. Greenberg M For For Abbott Laboratories ABT 002824100 4/23/04 1.5 Elect Director Jeffrey M. Leiden M For For Abbott Laboratories ABT 002824100 4/23/04 1.6 Elect Director David A. Lord Owen M For For Abbott Laboratories ABT 002824100 4/23/04 1.7 Elect Director Boone Powell Jr. M For For Abbott Laboratories ABT 002824100 4/23/04 1.8 Elect Director Addison Barry Rand M For For Abbott Laboratories ABT 002824100 4/23/04 1.9 Elect Director W.Ann Reynolds M For For Abbott Laboratories ABT 002824100 4/23/04 1.10 Elect Director Roy S. Roberts M For For Abbott Laboratories ABT 002824100 4/23/04 1.11 Elect Director William D. Smithburg M For For Abbott Laboratories ABT 002824100 4/23/04 1.12 Elect Director John R. Walter M For For Abbott Laboratories ABT 002824100 4/23/04 1.13 Elect Director Miles D. White M For For Abbott Laboratories ABT 002824100 4/23/04 2 Ratify Auditors M For For Abbott Laboratories ABT 002824100 4/23/04 3 Drug Pricing S Against Against Abbott Laboratories ABT 002824100 4/23/04 4 Report on Political Contributions/ S Against Against Activities Abbott Laboratories ABT 002824100 4/23/04 5 Prohibit Awards to Executives S Against Against Abbott Laboratories ABT 002824100 4/23/04 6 Report on Operational Imact of HIV/ S Against Against AIDS, TB, and Malaria Pandemic Dover Corp. DOV 260003108 4/20/04 1.1 Elect Director David H. Benson M For For Dover Corp. DOV 260003108 4/20/04 1.2 Elect Director Jean-Pierre M. Ergas M For For Dover Corp. DOV 260003108 4/20/04 1.3 Elect Director Kristiane C. Graham M For For Dover Corp. DOV 260003108 4/20/04 1.4 Elect Director Ronald L. Hoffman M For For Dover Corp. DOV 260003108 4/20/04 1.5 Elect Director James L. Koley M For For Dover Corp. DOV 260003108 4/20/04 1.6 Elect Director Richard K. Lochridge M For For Dover Corp. DOV 260003108 4/20/04 1.7 Elect Director Thomas L. Reece M For For Dover Corp. DOV 260003108 4/20/04 1.8 Elect Director Bernard G. Rethore M For For Dover Corp. DOV 260003108 4/20/04 1.9 Elect Director Gary L. Roubos M For For Dover Corp. DOV 260003108 4/20/04 1.10 Elect Director Michael B. Stubbs M For For Dover Corp. DOV 260003108 4/20/04 2 Approve Omnibus Stock Plan M For For Dover Corp. DOV 260003108 4/20/04 3 Other Business M For Against Boise Cascade Corp. BCC 097383103 4/15/04 1.1 Elect Director Claire S. Farley M For For Boise Cascade Corp. BCC 097383103 4/15/04 1.2 Elect Director Rakesh Gangwal M For For Boise Cascade Corp. BCC 097383103 4/15/04 1.3 Elect Director Gary G. Michael M For For Boise Cascade Corp. BCC 097383103 4/15/04 1.4 Elect Director A. William Reynolds M For For Boise Cascade Corp. BCC 097383103 4/15/04 2 Ratify Auditors M For For Boise Cascade Corp. BCC 097383103 4/15/04 3 Separate Chairman and CEO Positions S Against Against Morgan Stanley MWD 617446448 4/20/04 1.1 Elect Director John W. Madigan M For For Morgan Stanley MWD 617446448 4/20/04 1.2 Elect Director Dr. Klaus Zumwinkel M For For Morgan Stanley MWD 617446448 4/20/04 1.3 Elect Director Sir Howard Davies M For For Morgan Stanley MWD 617446448 4/20/04 2 Ratify Auditors M For For Morgan Stanley MWD 617446448 4/20/04 3 Declassify the Board of Directors S Against For Morgan Stanley MWD 617446448 4/20/04 4 Submit Severance Agreement S Against Against (Change-in-Control) to Shareholder Vote Morgan Stanley MWD 617446448 4/20/04 5 Report on Political Contributions/ S Against Against Activities Exelon Corp. EXC 30161N101 4/27/04 1.1 Elect Director Nicholas M For For DeBenedictis Exelon Corp. EXC 30161N101 4/27/04 1.2 Elect Director G. Fred Dibona, Jr. M For For Exelon Corp. EXC 30161N101 4/27/04 1.3 Elect Director Sue L. Gin M For For Exelon Corp. EXC 30161N101 4/27/04 1.4 Elect Director Edgar D. Jannotta M For For Exelon Corp. EXC 30161N101 4/27/04 2 Ratify Auditors M For For Exelon Corp. EXC 30161N101 4/27/04 3 Approve Executive Incentive Bonus M For For Plan SBC Communications Inc. SBC 78387G103 4/30/04 1.1 Elect Director James E. Barnes M For For SBC Communications Inc. SBC 78387G103 4/30/04 1.2 Elect Director James A. Henderson M For For SBC Communications Inc. SBC 78387G103 4/30/04 1.3 Elect Director John B. McCoy M For For SBC Communications Inc. SBC 78387G103 4/30/04 1.4 Elect Director S. Donley Ritchey M For For SBC Communications Inc. SBC 78387G103 4/30/04 1.5 Elect Director Joyce M. Roche M For For SBC Communications Inc. SBC 78387G103 4/30/04 1.6 Elect Director Patricia P. Upton M For For SBC Communications Inc. SBC 78387G103 4/30/04 2 Ratify Auditors M For For SBC Communications Inc. SBC 78387G103 4/30/04 3 Amend Bylaws M For For SBC Communications Inc. SBC 78387G103 4/30/04 4 Report on Political Contributions/ S Against Against Activities SBC Communications Inc. SBC 78387G103 4/30/04 5 Change Size of Board of Directors S Against Against Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Citigroup Inc. C 172967101 4/20/04 1.1 Elect Director C. Michael Armstrong M For For Citigroup Inc. C 172967101 4/20/04 1.2 Elect Director Alain J.P. Belda M For For Citigroup Inc. C 172967101 4/20/04 1.3 Elect Director George David M For For Citigroup Inc. C 172967101 4/20/04 1.4 Elect Director Kenneth T. Derr M For For Citigroup Inc. C 172967101 4/20/04 1.5 Elect Director John M. Deutch M For For Citigroup Inc. C 172967101 4/20/04 1.6 Elect Director Roberto Hernandez Ramirez M For For Citigroup Inc. C 172967101 4/20/04 1.7 Elect Director Ann Dibble Jordan M For For Citigroup Inc. C 172967101 4/20/04 1.8 Elect Director Dudley C. Mecum M For For Citigroup Inc. C 172967101 4/20/04 1.9 Elect Director Richard D. Parsons M For For Citigroup Inc. C 172967101 4/20/04 1.10 Elect Director Andrall E. Pearson M For For Citigroup Inc. C 172967101 4/20/04 1.11 Elect Director Charles Prince M For For Citigroup Inc. C 172967101 4/20/04 1.12 Elect Director Robert E. Rubin M For For Citigroup Inc. C 172967101 4/20/04 1.13 Elect Director Franklin A. Thomas M For For Citigroup Inc. C 172967101 4/20/04 1.14 Elect Director Sanford I. Weill M For For Citigroup Inc. C 172967101 4/20/04 1.15 Elect Director Robert B. Willumstad M For For Citigroup Inc. C 172967101 4/20/04 2 Ratify Auditors M For For Citigroup Inc. C 172967101 4/20/04 3 Limit Executive Compensation S Against Against Citigroup Inc. C 172967101 4/20/04 4 Report on Political Contributions/ S Against Against Activities Citigroup Inc. C 172967101 4/20/04 5 Prohibit Awards to Executives S Against Against Citigroup Inc. C 172967101 4/20/04 6 Separate Chairman and CEO Positions S Against Against Wachovia Corp. WB 929903102 4/20/04 1.1 Elect Director James S. Balloun M For For Wachovia Corp. WB 929903102 4/20/04 1.2 Elect Director John T. Casteen, III M For For Wachovia Corp. WB 929903102 4/20/04 1.3 Elect Director Joseph Neubauer M For For Wachovia Corp. WB 929903102 4/20/04 1.4 Elect Director Lanty L. Smith M For For Wachovia Corp. WB 929903102 4/20/04 1.5 Elect Director Dona Davis Young M For For Wachovia Corp. WB 929903102 4/20/04 2 Ratify Auditors M For For Wachovia Corp. WB 929903102 4/20/04 3 Require Two Candidates for Each S Against Against Board Seat Wachovia Corp. WB 929903102 4/20/04 4 Report on Political Contributions/ S Against Against Activities Wachovia Corp. WB 929903102 4/20/04 5 Separate Chairman and CEO Positions S Against Against Honeywell International, HON 438516106 4/26/04 1.1 Elect Director James J. Howard M For For Inc. Honeywell International, HON 438516106 4/26/04 1.2 Elect Director Bruce Karatz M For For Inc. Honeywell International, HON 438516106 4/26/04 1.3 Elect Director Russell E. Palmer M For For Inc. Honeywell International, HON 438516106 4/26/04 1.4 Elect Director Ivan G. Seidenberg M For For Inc. Honeywell International, HON 438516106 4/26/04 1.5 Elect Director Eric K. Shinseki M For For Inc. Honeywell International, HON 438516106 4/26/04 2 Ratify Auditors M For For Inc. Honeywell International, HON 438516106 4/26/04 3 Declassify the Board of Directors S Against For Inc. Honeywell International, HON 438516106 4/26/04 4 Amend Vote Requirements to Amend S Against For Articles/Bylaws/Charter Inc. Honeywell International, HON 438516106 4/26/04 5 Submit Severance Agreement S Against For (Change-in-Control) to Shareholder Vote Inc. Honeywell International, HON 438516106 4/26/04 6 Report on Pay Disparity S Against Against Inc. Honeywell International, HON 438516106 4/26/04 7 Provide for Cumulative Voting S Against Against Inc. State Street Corp. STT 857477103 4/21/04 1.1 Elect Director Kennett Burnes M For For (Boston) State Street Corp. STT 857477103 4/21/04 1.2 Elect Director David Gruber M For For (Boston) State Street Corp. STT 857477103 4/21/04 1.3 Elect Director Linda Hill M For For (Boston) State Street Corp. STT 857477103 4/21/04 1.4 Elect Director Charles Lamantia M For For (Boston) State Street Corp. STT 857477103 4/21/04 1.5 Elect Director Robert Weissman M For For (Boston) State Street Corp. STT 857477103 4/21/04 2 Exempt Board of Directors from S Against For Massachusetts General Laws, Chapter 156B, Section 50A(a) (Boston) Union Pacific Corp. UNP 907818108 4/16/04 1.1 Elect Director P.F. Anschutz M For For Union Pacific Corp. UNP 907818108 4/16/04 1.2 Elect Director R.K. Davidson M For For Union Pacific Corp. UNP 907818108 4/16/04 1.3 Elect Director T.J. Donohue M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Union Pacific Corp. UNP 907818108 4/16/04 1.4 Elect Director A.W. Dunham M For For Union Pacific Corp. UNP 907818108 4/16/04 1.5 Elect Director S.F. Eccles M For For Union Pacific Corp. UNP 907818108 4/16/04 1.6 Elect Director I.J. Evans M For For Union Pacific Corp. UNP 907818108 4/16/04 1.7 Elect Director J.R. Hope M For For Union Pacific Corp. UNP 907818108 4/16/04 1.8 Elect Director M.W. Mcconnell M For For Union Pacific Corp. UNP 907818108 4/16/04 1.9 Elect Director S.R. Rogel M For For Union Pacific Corp. UNP 907818108 4/16/04 1.10 Elect Director E. Zedillo M For For Union Pacific Corp. UNP 907818108 4/16/04 2 Approve Omnibus Stock Plan M For For Union Pacific Corp. UNP 907818108 4/16/04 3 Ratify Auditors M For For Union Pacific Corp. UNP 907818108 4/16/04 4 Limit Executive Compensation S Against Against Union Pacific Corp. UNP 907818108 4/16/04 5 Report on Political Contributions/ S Against For Activities PG&E Corp. PCG 69331C108 4/21/04 1.1 Elect Director David R. Andrews M For For PG&E Corp. PCG 69331C108 4/21/04 1.2 Elect Director Leslie S. Biller M For For PG&E Corp. PCG 69331C108 4/21/04 1.3 Elect Director David A. Coulter M For For PG&E Corp. PCG 69331C108 4/21/04 1.4 Elect Director C. Lee Cox M For For PG&E Corp. PCG 69331C108 4/21/04 1.5 Elect Director Robert D. Glynn, Jr. M For For PG&E Corp. PCG 69331C108 4/21/04 1.6 Elect Director David M. Lawrence, M For For MD PG&E Corp. PCG 69331C108 4/21/04 1.7 Elect Director Mary S. Metz M For For PG&E Corp. PCG 69331C108 4/21/04 1.8 Elect Director Barry Lawson M For For Williams PG&E Corp. PCG 69331C108 4/21/04 2 Ratify Auditors M For For PG&E Corp. PCG 69331C108 4/21/04 3 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote PG&E Corp. PCG 69331C108 4/21/04 4 Submit Severance Agreement (Change-in-Control) to Shareholder S Against Against Vote PG&E Corp. PCG 69331C108 4/21/04 5 Require Directors be a Link-Free S Against Against Directors PG&E Corp. PCG 69331C108 4/21/04 6 Adopt Radioactive Waste Policy S Against Against PG&E Corp. PCG 69331C108 4/21/04 7 Separate Chairman and CEO Positions S Against Against PG&E Corp. PCG 69331C108 4/21/04 8 Limit Executive Compensation S Against Against Verizon Communications VZ 92343V104 4/28/04 1.1 Elect Director James R. Barker M For For Verizon Communications VZ 92343V104 4/28/04 1.2 Elect Director Richard L. Carrion M For For Verizon Communications VZ 92343V104 4/28/04 1.3 Elect Director Robert W. Lane M For For Verizon Communications VZ 92343V104 4/28/04 1.4 Elect Director Sandra O. Moose M For For Verizon Communications VZ 92343V104 4/28/04 1.5 Elect Director Joseph Neubauer M For For Verizon Communications VZ 92343V104 4/28/04 1.6 Elect Director Thomas H. O'Brien M For For Verizon Communications VZ 92343V104 4/28/04 1.7 Elect Director Hugh B. Price M For For Verizon Communications VZ 92343V104 4/28/04 1.8 Elect Director Ivan G. Seidenberg M For For Verizon Communications VZ 92343V104 4/28/04 1.9 Elect Director Walter V. Shipley M For For Verizon Communications VZ 92343V104 4/28/04 1.10 Elect Director John R. Stafford M For For Verizon Communications VZ 92343V104 4/28/04 1.11 Elect Director Robert D. Storey M For Withhold Verizon Communications VZ 92343V104 4/28/04 2 Ratify Auditors M For For Verizon Communications VZ 92343V104 4/28/04 3 Restore or Provide for Cumulative S Against Against Voting Verizon Communications VZ 92343V104 4/28/04 4 Require Majority of Independent S Against Against Directors on Board Verizon Communications VZ 92343V104 4/28/04 5 Separate Chairman and CEO Positions S Against Against Verizon Communications VZ 92343V104 4/28/04 6 Submit Shareholder Rights Plan S Against Against (Poison Pill) to Shareholder Vote Verizon Communications VZ 92343V104 4/28/04 7 Submit Executive Compensation to S Against Against Vote Verizon Communications VZ 92343V104 4/28/04 8 Prohibit Awards to Executives S Against Against Verizon Communications VZ 92343V104 4/28/04 9 Report on Stock Option Distribution S Against Against by Race and Gender Verizon Communications VZ 92343V104 4/28/04 10 Report on Political Contributions/ S Against Against Activities Verizon Communications VZ 92343V104 4/28/04 11 Cease Charitable Contributions S Against Against MBNA Corp. KRB 55262L100 5/3/04 1.1 Elect Director James H. Berick M For Withhold MBNA Corp. KRB 55262L100 5/3/04 1.2 Elect Director Benjamin R. M For Withhold Civiletti MBNA Corp. KRB 55262L100 5/3/04 1.3 Elect Director Bruce L. Hammonds M For Withhold MBNA Corp. KRB 55262L100 5/3/04 1.4 Elect Director William L. Jews M For Withhold MBNA Corp. KRB 55262L100 5/3/04 1.5 Elect Director Randolph D. Lerner M For Withhold MBNA Corp. KRB 55262L100 5/3/04 1.6 Elect Director Stuart L. Markowitz M For Withhold MBNA Corp. KRB 55262L100 5/3/04 1.7 Elect Director William B. Milstead M For Withhold MBNA Corp. KRB 55262L100 5/3/04 2 Ratify Auditors M For For MBNA Corp. KRB 55262L100 5/3/04 3 Expense Stock Options S Against Against MBNA Corp. KRB 55262L100 5/3/04 4 Require Majority of Independent S Against Against Directors on Board Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Harrah's Entertainment, HET 413619107 4/29/04 1.1 Elect Director Ralph Horn M For For Inc. Harrah's Entertainment, HET 413619107 4/29/04 1.2 Elect Director Gary W. Loveman M For For Inc. Harrah's Entertainment, HET 413619107 4/29/04 1.3 Elect Director Philip G. Satre M For For Inc. Harrah's Entertainment, HET 413619107 4/29/04 1.4 Elect Director Boake A. Sells M For For Inc. Harrah's Entertainment, HET 413619107 4/29/04 2 Approve Omnibus Stock Plan M For For Inc. Harrah's Entertainment, HET 413619107 4/29/04 3 Approve Executive Incentive Bonus M For For Plan Inc. Harrah's Entertainment, HET 413619107 4/29/04 4 Ratify Auditors M For For Inc. Harrah's Entertainment, HET 413619107 4/29/04 5 Report on Political Contributions/ S Against Against Activities Inc. Kimberly-Clark Corp. KMB 494368103 4/29/04 1.1 Elect Director Pastora San Juan M For For Cafferty Kimberly-Clark Corp. KMB 494368103 4/29/04 1.2 Elect Director Claudio X. Gonzalez M For For Kimberly-Clark Corp. KMB 494368103 4/29/04 1.3 Elect Director Linda Johnson Rice M For For Kimberly-Clark Corp. KMB 494368103 4/29/04 1.4 Elect Director Marc J. Shapiro M For For Kimberly-Clark Corp. KMB 494368103 4/29/04 2 Amend Omnibus Stock Plan M For Against Kimberly-Clark Corp. KMB 494368103 4/29/04 3 Ratify Auditors M For For Kimberly-Clark Corp. KMB 494368103 4/29/04 4 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote The Bank Of New York BK 064057102 4/13/04 1.1 Elect Director Frank J. Biondi, Jr. M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 1.2 Elect Director Nicholas M. Donofrio M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 1.3 Elect Director Alan R. Griffith M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 1.4 Elect Director Gerald L. Hassell M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 1.5 Elect Director Richard J. Kogan M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 1.6 Elect Director Michael J. Kowalski M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 1.7 Elect Director John A. Luke, Jr. M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 1.8 Elect Director John C. Malone M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 1.9 Elect Director Paul Myners, CBE M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 1.10 Elect Director Robert C. Pozen M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 1.11 Elect Director Catherine A. Rein M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 1.12 Elect Director Thomas A. Renyi M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 1.13 Elect Director William C. M For For Richardson Co., Inc. The Bank Of New York BK 064057102 4/13/04 1.14 Elect Director Brian L. Roberts M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 1.15 Elect Director Samuel C. Scott III M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 2 Ratify Auditors M For For Co., Inc. The Bank Of New York BK 064057102 4/13/04 3 Amend Executive Incentive Bonus M For For Plan Co., Inc. The Bank Of New York BK 064057102 4/13/04 4 Report on Political Contributions S Against Against Co., Inc. The Bank Of New York BK 064057102 4/13/04 5 Limit Executive Compensation S Against Against Co., Inc. The Bank Of New York BK 064057102 4/13/04 6 Limit Composition of Committee to S Against Against Independent Directors Co., Inc. The Bank Of New York BK 064057102 4/13/04 7 Submit Shareholder Rights Plan S Against Against (Poison Pill) to Shareholder Vote Co., Inc. Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Avery Dennison Corp. AVY 053611109 4/22/04 1.1 Elect Directors Philip M. Neal M For For Avery Dennison Corp. AVY 053611109 4/22/04 1.2 Elect Directors Frank V. Cahouet M For For Avery Dennison Corp. AVY 053611109 4/22/04 1.3 Elect Directors Peter W. Mullin M For For Avery Dennison Corp. AVY 053611109 4/22/04 1.4 Elect Directors Bruce E. Karatz M For For Avery Dennison Corp. AVY 053611109 4/22/04 2 Ratify Auditors M For For Avery Dennison Corp. AVY 053611109 4/22/04 3 Amend Executive Incentive Bonus M For For Plan Avery Dennison Corp. AVY 053611109 4/22/04 4 Amend Executive Incentive Bonus M For For Plan MEDCO Health Solutions MHS 58405U102 4/21/04 1.1 Elect Director David B. Snow, Jr. M For For Inc MEDCO Health Solutions MHS 58405U102 4/21/04 1.2 Elect Director Howard W. Barker, Jr.M For For Inc MEDCO Health Solutions MHS 58405U102 4/21/04 1.3 Elect Director Brian L. Strom, Md, M For For Mph Inc MEDCO Health Solutions MHS 58405U102 4/21/04 2 Ratify Auditors M For For Inc Lockheed Martin Corp. LMT 539830109 4/22/04 1.1 Elect Director E.C. 'Pete' M For Withhold Aldridge, Jr. Lockheed Martin Corp. LMT 539830109 4/22/04 1.2 Elect Director Nolan D. Archibald M For Withhold Lockheed Martin Corp. LMT 539830109 4/22/04 1.3 Elect Director Norman R. Augustine M For Withhold Lockheed Martin Corp. LMT 539830109 4/22/04 1.4 Elect Director Marcus C. Bennett M For Withhold Lockheed Martin Corp. LMT 539830109 4/22/04 1.5 Elect Director Vance D. Coffman M For Withhold Lockheed Martin Corp. LMT 539830109 4/22/04 1.6 Elect Director Gwendolyn S. King M For Withhold Lockheed Martin Corp. LMT 539830109 4/22/04 1.7 Elect Director Douglas H. M For Withhold McCorkindale Lockheed Martin Corp. LMT 539830109 4/22/04 1.8 Elect Director Eugene F. Murphy M For Withhold Lockheed Martin Corp. LMT 539830109 4/22/04 1.9 Elect Director Joseph W. Ralston M For Withhold Lockheed Martin Corp. LMT 539830109 4/22/04 1.10 Elect Director Frank Savage M For Withhold Lockheed Martin Corp. LMT 539830109 4/22/04 1.11 Elect Director Anne Stevens M For Withhold Lockheed Martin Corp. LMT 539830109 4/22/04 1.12 Elect Director Robert J. Stevens M For Withhold Lockheed Martin Corp. LMT 539830109 4/22/04 1.13 Elect Director James R. Ukropina M For Withhold Lockheed Martin Corp. LMT 539830109 4/22/04 1.14 Elect Director Douglas C. Yearley M For Withhold Lockheed Martin Corp. LMT 539830109 4/22/04 2 Ratify Auditors M For For Lockheed Martin Corp. LMT 539830109 4/22/04 3 Report on Executive Ties to S Against Against Government Lockheed Martin Corp. LMT 539830109 4/22/04 4 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote Lockheed Martin Corp. LMT 539830109 4/22/04 5 Prohibit Auditor from Providing S Against Against Non-Audit Services Lockheed Martin Corp. LMT 539830109 4/22/04 6 Develop Ethical Criteria for S Against Against Military Contracts Dominion Resources, Inc. D 25746U109 4/23/04 1.1 Elect Director Susan B. Allen M For For Dominion Resources, Inc. D 25746U109 4/23/04 1.2 Elect Director Peter W. Brown M For For Dominion Resources, Inc. D 25746U109 4/23/04 1.3 Elect Director Ronald J. Calise M For For Dominion Resources, Inc. D 25746U109 4/23/04 1.4 Elect Director Thos. E. Capps M For For Dominion Resources, Inc. D 25746U109 4/23/04 1.5 Elect Director George A. Davidson, M For For Jr. Dominion Resources, Inc. D 25746U109 4/23/04 1.6 Elect Director John W. Harris M For For Dominion Resources, Inc. D 25746U109 4/23/04 1.7 Elect Director Robert S. Jepson, Jr.M For For Dominion Resources, Inc. D 25746U109 4/23/04 1.8 Elect Director Benjamin J. Lambert, M For For III Dominion Resources, Inc. D 25746U109 4/23/04 1.9 Elect Director Richard L. M For For Leatherwood Dominion Resources, Inc. D 25746U109 4/23/04 1.10 Elect Director Margaret A. McKenna M For For Dominion Resources, Inc. D 25746U109 4/23/04 1.11 Elect Director Kenneth A. Randall M For For Dominion Resources, Inc. D 25746U109 4/23/04 1.12 Elect Director Frank S. Royal M For For Dominion Resources, Inc. D 25746U109 4/23/04 1.13 Elect Director S. Dallas Simmons M For For Dominion Resources, Inc. D 25746U109 4/23/04 1.14 Elect Director Robert H. Spilman M For For Dominion Resources, Inc. D 25746U109 4/23/04 1.15 Elect Director David A. Wollard M For For Dominion Resources, Inc. D 25746U109 4/23/04 2 Ratify Auditors M For For Dominion Resources, Inc. D 25746U109 4/23/04 3 Submit Executive Compensation to S Against Against Vote Whirlpool Corp. WHR 963320106 4/20/04 1.1 Elect Director Allan D. Gilmour M For For Whirlpool Corp. WHR 963320106 4/20/04 1.2 Elect Director Michael F. Johnston M For For Whirlpool Corp. WHR 963320106 4/20/04 1.3 Elect Director Janice D. Stoney M For For Whirlpool Corp. WHR 963320106 4/20/04 1.4 Elect Director David R. Whitwam M For For Whirlpool Corp. WHR 963320106 4/20/04 2 Amend Executive Incentive Bonus M For For Plan Altria Group, Inc. MO 02209S103 4/29/04 1.1 Elect Director Elizabeth E. Bailey M For For Altria Group, Inc. MO 02209S103 4/29/04 1.2 Elect Director Mathis Cabiallavetta M For For Altria Group, Inc. MO 02209S103 4/29/04 1.3 Elect Director Louis C. Camilleri M For For Altria Group, Inc. MO 02209S103 4/29/04 1.4 Elect Director J. Dudley Fishburn M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Altria Group, Inc. MO 02209S103 4/29/04 1.5 Elect Director Robert E. R. Huntley M For For Altria Group, Inc. MO 02209S103 4/29/04 1.6 Elect Director Thomas W. Jones M For For Altria Group, Inc. MO 02209S103 4/29/04 1.7 Elect Director Lucio A. Noto M For For Altria Group, Inc. MO 02209S103 4/29/04 1.8 Elect Director John S. Reed M For For Altria Group, Inc. MO 02209S103 4/29/04 1.9 Elect Director Carlos Slim Helu M For For Altria Group, Inc. MO 02209S103 4/29/04 1.10 Elect Director Stephen M. Wolf M For For Altria Group, Inc. MO 02209S103 4/29/04 2 Ratify Auditors M For For Altria Group, Inc. MO 02209S103 4/29/04 3 Report on Product Warnings for S Against Against Pregnant Women Altria Group, Inc. MO 02209S103 4/29/04 4 Report on Health Risks Associated S Against Against with Cigarette Filters Altria Group, Inc. MO 02209S103 4/29/04 5 Political Contributions/Activities S Against Against Altria Group, Inc. MO 02209S103 4/29/04 6 Cease Use of Light and Ultra Light S Against Against in Cigarette Marketing Altria Group, Inc. MO 02209S103 4/29/04 7 Place Canadian Style Warnings on S Against Against Cigarette Packaging Altria Group, Inc. MO 02209S103 4/29/04 8 Separate Chairman and CEO Positions S Against Against Wells Fargo & Company WFC 949746101 4/27/04 1.1 Elect Director J.A. Blanchard III M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.2 Elect Director Susan E. Engel M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.3 Elect Director Enrique Hernandez, M For Withhold Jr. Wells Fargo & Company WFC 949746101 4/27/04 1.4 Elect Director Robert L. Joss M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.5 Elect Director Reatha Clark King M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.6 Elect Director Richard M. M For Withhold Kovacevich Wells Fargo & Company WFC 949746101 4/27/04 1.7 Elect Director Richard D. McCormick M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.8 Elect Director Cynthia H. Milligan M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.9 Elect Director Philip J. Quigley M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.10 Elect Director Donald B. Rice M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.11 Elect Director Judith M. Runstad M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.12 Elect Director Stephen W. Sanger M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.13 Elect Director Susan G. Swenson M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 1.14 Elect Director Michael W. Wright M For Withhold Wells Fargo & Company WFC 949746101 4/27/04 2 Approve Retirement Plan M For For Wells Fargo & Company WFC 949746101 4/27/04 3 Ratify Auditors M For For Wells Fargo & Company WFC 949746101 4/27/04 4 Expense Stock Options S Against Against Wells Fargo & Company WFC 949746101 4/27/04 5 Limit Executive Compensation S Against Against Wells Fargo & Company WFC 949746101 4/27/04 6 Link Executive Compensation to S Against Against Social Issues Wells Fargo & Company WFC 949746101 4/27/04 7 Report on Political Contributions/ S Against Against Activities Eaton Corp. ETN 278058102 4/28/04 1.1 Elect Director Michael J. Critelli M For For Eaton Corp. ETN 278058102 4/28/04 1.2 Elect Director Ernie Green M For For Eaton Corp. ETN 278058102 4/28/04 1.3 Elect Director Kiran M. Patel M For For Eaton Corp. ETN 278058102 4/28/04 2 Approve Omnibus Stock Plan M For For Eaton Corp. ETN 278058102 4/28/04 3 Ratify Auditors M For For Berkshire Hathaway Inc. BRK.A 084670207 5/1/04 1.1 Elect Director Warren E. Buffett M For For Berkshire Hathaway Inc. BRK.A 084670207 5/1/04 1.2 Elect Director Charles T. Munger M For For Berkshire Hathaway Inc. BRK.A 084670207 5/1/04 1.3 Elect Director Susan T. Buffett M For For Berkshire Hathaway Inc. BRK.A 084670207 5/1/04 1.4 Elect Director Howard G. Buffett M For For Berkshire Hathaway Inc. BRK.A 084670207 5/1/04 1.5 Elect Director Malcolm G. Chace M For For Berkshire Hathaway Inc. BRK.A 084670207 5/1/04 1.6 Elect Director David S. Gottesman M For For Berkshire Hathaway Inc. BRK.A 084670207 5/1/04 1.7 Elect Director Charlotte Guyman M For For Berkshire Hathaway Inc. BRK.A 084670207 5/1/04 1.8 Elect Director Donald R. Keough M For For Berkshire Hathaway Inc. BRK.A 084670207 5/1/04 1.9 Elect Director Thomas S. Murphy M For For Berkshire Hathaway Inc. BRK.A 084670207 5/1/04 1.10 Elect Director Ronald L. Olson M For For Berkshire Hathaway Inc. BRK.A 084670207 5/1/04 1.11 Elect Director Walter Scott, Jr. M For For Berkshire Hathaway Inc. BRK.A 084670207 5/1/04 2 Report on Political Contributions/ S Against Against Activities Washington Mutual, Inc WM 939322103 4/20/04 1.1 Elect Director Anne V. Farrell M For For Washington Mutual, Inc WM 939322103 4/20/04 1.2 Elect Director Stephen E. Frank M For For Washington Mutual, Inc WM 939322103 4/20/04 1.3 Elect Director Margaret Osmer M For For Mcquade Washington Mutual, Inc WM 939322103 4/20/04 1.4 Elect Director William D. Schulte M For For Washington Mutual, Inc WM 939322103 4/20/04 2 Ratify Auditors M For For Washington Mutual, Inc WM 939322103 4/20/04 3 Limit Executive Compensation S Against Against MeadWestvaco Corp. MWV 583334107 4/27/04 1.1 Elect Director William E. Hoglund M For For MeadWestvaco Corp. MWV 583334107 4/27/04 1.2 Elect Director Douglas S. Luke M For For MeadWestvaco Corp. MWV 583334107 4/27/04 1.3 Elect Director Robert C. McCormack M For For MeadWestvaco Corp. MWV 583334107 4/27/04 1.4 Elect Director Jane L. Warner M For For MeadWestvaco Corp. MWV 583334107 4/27/04 2 Ratify Auditors M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Sempra Energy SRE 816851109 5/4/04 1.1 Elect Director Stephen L. Baum M For For Sempra Energy SRE 816851109 5/4/04 1.2 Elect Director Wilford D. Godbold, M For For Jr. Sempra Energy SRE 816851109 5/4/04 1.3 Elect Director Richard G. Newman M For For Sempra Energy SRE 816851109 5/4/04 2 Approve Omnibus Stock Plan M For For Sempra Energy SRE 816851109 5/4/04 3 Ratify Auditors M For For Sempra Energy SRE 816851109 5/4/04 4 Declassify the Board of Directors S Against For Sempra Energy SRE 816851109 5/4/04 5 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote Sempra Energy SRE 816851109 5/4/04 6 Prohibit Auditor from Providing S Against For Non-Audit Services Sempra Energy SRE 816851109 5/4/04 7 Separate Chairman and CEO Positions S Against Against Sunoco, Inc. SUN 86764P109 5/6/04 1.1 Elect Director Robert J. Darnall M For For Sunoco, Inc. SUN 86764P109 5/6/04 1.2 Elect Director John G. Drosdick M For For Sunoco, Inc. SUN 86764P109 5/6/04 1.3 Elect Director Ursula F. Fairbairn M For For Sunoco, Inc. SUN 86764P109 5/6/04 1.4 Elect Director Thomas P. Gerrity M For For Sunoco, Inc. SUN 86764P109 5/6/04 1.5 Elect Director Rosemarie B. Greco M For For Sunoco, Inc. SUN 86764P109 5/6/04 1.6 Elect Director James G. Kaiser M For For Sunoco, Inc. SUN 86764P109 5/6/04 1.7 Elect Director Robert D. Kennedy M For For Sunoco, Inc. SUN 86764P109 5/6/04 1.8 Elect Director Richard H. Lenny M For For Sunoco, Inc. SUN 86764P109 5/6/04 1.9 Elect Director Norman S. Matthews M For For Sunoco, Inc. SUN 86764P109 5/6/04 1.10 Elect Director R. Anderson Pew M For For Sunoco, Inc. SUN 86764P109 5/6/04 1.11 Elect Director G. Jackson Ratcliffe M For For Sunoco, Inc. SUN 86764P109 5/6/04 1.12 Elect Director John W. Rowe M For For Sunoco, Inc. SUN 86764P109 5/6/04 1.13 Elect Director John K. Wulff M For For Sunoco, Inc. SUN 86764P109 5/6/04 2 Ratify Auditors M For For Wyeth WYE 983024100 4/22/04 1.1 Elect Director Clifford L. M For For Alexander, Jr. Wyeth WYE 983024100 4/22/04 1.2 Elect Director Frank A. Bennack, M For For Jr. Wyeth WYE 983024100 4/22/04 1.3 Elect Director Richard L. Carrion M For For Wyeth WYE 983024100 4/22/04 1.4 Elect Director Robert Essner M For For Wyeth WYE 983024100 4/22/04 1.5 Elect Director John D. Feerick M For For Wyeth WYE 983024100 4/22/04 1.6 Elect Director Robert Langer M For For Wyeth WYE 983024100 4/22/04 1.7 Elect Director John P. Mascotte M For For Wyeth WYE 983024100 4/22/04 1.8 Elect Director Mary Lake Polan M For For Wyeth WYE 983024100 4/22/04 1.9 Elect Director Ivan G. Seidenberg M For For Wyeth WYE 983024100 4/22/04 1.10 Elect Director Walter V. Shipley M For For Wyeth WYE 983024100 4/22/04 1.11 Elect Director John R. Torell III M For For Wyeth WYE 983024100 4/22/04 2 Ratify Auditors M For For Wyeth WYE 983024100 4/22/04 3 Report on Drug Pricing S Against Against Wyeth WYE 983024100 4/22/04 4 Amend Animal Testing Policy S Against Against Zions Bancorporation ZION 989701107 4/30/04 1.1 Elect Director Roger B. Porter M For For Zions Bancorporation ZION 989701107 4/30/04 1.2 Elect Director L. E. Simmons M For For Zions Bancorporation ZION 989701107 4/30/04 1.3 Elect Director Steven C. M For For Wheelwright Zions Bancorporation ZION 989701107 4/30/04 2 Ratify Auditors M For For Zions Bancorporation ZION 989701107 4/30/04 3 Other Business M For Against Capital One Financial COF 14040H105 4/29/04 1.1 Elect Director W. Ronald Dietz M For For Corp. Capital One Financial COF 14040H105 4/29/04 1.2 Elect Director Lewis Hay, III M For For Corp. Capital One Financial COF 14040H105 4/29/04 1.3 Elect Director Mayo A. Shattuck, M For For III Corp. Capital One Financial COF 14040H105 4/29/04 2 Ratify Auditors M For For Corp. Capital One Financial COF 14040H105 4/29/04 3 Approve Omnibus Stock Plan M For For Corp. Compass Bancshares, Inc. CBSS 20449H109 4/19/04 1.1 Elect Director Carl J. Gessler, Jr. M For For Compass Bancshares, Inc. CBSS 20449H109 4/19/04 1.2 Elect Director D. Paul Jones, Jr. M For For Compass Bancshares, Inc. CBSS 20449H109 4/19/04 1.3 Elect Director J. Terry Strange M For For Compass Bancshares, Inc. CBSS 20449H109 4/19/04 2 Adopt Dividend Reinvestment Plan M For For Compass Bancshares, Inc. CBSS 20449H109 4/19/04 3 Ratify Auditors M For For Torchmark Corp. TMK 891027104 4/29/04 1.1 Elect Director Charles E. Adair M For For Torchmark Corp. TMK 891027104 4/29/04 1.2 Elect Director Joseph M. Farley M For For Torchmark Corp. TMK 891027104 4/29/04 1.3 Elect Director C. B. Hudson M For For Torchmark Corp. TMK 891027104 4/29/04 1.4 Elect Director Joseph L. Lanier, M For For Jr. Torchmark Corp. TMK 891027104 4/29/04 1.5 Elect Director R. K. Richey M For For Torchmark Corp. TMK 891027104 4/29/04 2 Ratify Auditors M For For Torchmark Corp. TMK 891027104 4/29/04 3 Limit Executive Compensation S Against Against Torchmark Corp. TMK 891027104 4/29/04 4 Divest Investments in Tobacco S Against Against Companies Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ CIGNA Corp. CI 125509109 4/28/04 1.1 Elect Director Robert H. Campbell M For For CIGNA Corp. CI 125509109 4/28/04 1.2 Elect Director Jane E. Henney, M.D. M For For CIGNA Corp. CI 125509109 4/28/04 1.3 Elect Director Charles R. Shoemate M For For CIGNA Corp. CI 125509109 4/28/04 1.4 Elect Director Louis W. Sullivan, M For For M.D. CIGNA Corp. CI 125509109 4/28/04 2 Ratify Auditors M For For Borg-Warner, Inc. BWA 099724106 4/21/04 1.1 Elect Director Jere A. Drummond M For For Borg-Warner, Inc. BWA 099724106 4/21/04 1.2 Elect Director Timothy M. M For For Manganello Borg-Warner, Inc. BWA 099724106 4/21/04 1.3 Elect Director Ernest J. Novak, Jr. M For For Borg-Warner, Inc. BWA 099724106 4/21/04 2 Approve Omnibus Stock Plan M For For Borg-Warner, Inc. BWA 099724106 4/21/04 3 Increase Authorized Common Stock M For For Borg-Warner, Inc. BWA 099724106 4/21/04 4 Ratify Auditors M For For NOBLE CORP NE G65422100 4/22/04 1.1 Elect Director Michael A. Cawley M For Withhold NOBLE CORP NE G65422100 4/22/04 1.2 Elect Director Luke R. Corbett M For Withhold NOBLE CORP NE G65422100 4/22/04 1.3 Elect Director Jack E. Little M For Withhold NOBLE CORP NE G65422100 4/22/04 2 Ratify Auditors M For For Raytheon Co. RTN 755111507 5/5/04 1.1 Elect Director John M. Deutch M For For Raytheon Co. RTN 755111507 5/5/04 1.2 Elect Director Michael C. Ruettgers M For For Raytheon Co. RTN 755111507 5/5/04 1.3 Elect Director William R. Spivey M For For Raytheon Co. RTN 755111507 5/5/04 1.4 Elect Director William H. Swanson M For For Raytheon Co. RTN 755111507 5/5/04 1.5 Elect Director Linda G. Stuntz M For For Raytheon Co. RTN 755111507 5/5/04 2 Ratify Auditors M For For Raytheon Co. RTN 755111507 5/5/04 3 Develop Ethical Criteria for S Against Against Military Contracts Raytheon Co. RTN 755111507 5/5/04 4 Submit Shareholder Rights Plan S Against Against (Poison Pill) to Shareholder Vote Raytheon Co. RTN 755111507 5/5/04 5 Declassify the Board of Directors S Against For Raytheon Co. RTN 755111507 5/5/04 6 Implement MacBride Principles S Against Against Raytheon Co. RTN 755111507 5/5/04 7 Expense Stock Options S Against Against Raytheon Co. RTN 755111507 5/5/04 8 Submit Executive Pension Benefit to S Against Against Vote Raytheon Co. RTN 755111507 5/5/04 9 Limit Executive Compensation S Against Against The Boeing Co. BA 097023105 5/3/04 1.1 Elect Director John H. Biggs M For For The Boeing Co. BA 097023105 5/3/04 1.2 Elect Director John E. Bryson M For For The Boeing Co. BA 097023105 5/3/04 1.3 Elect Director Linda Z. Cook M For For The Boeing Co. BA 097023105 5/3/04 1.4 Elect Director Rozanne L. Ridgway M For For The Boeing Co. BA 097023105 5/3/04 2 Reduce Supermajority Vote M For For Requirement The Boeing Co. BA 097023105 5/3/04 3 Ratify Auditors M For For The Boeing Co. BA 097023105 5/3/04 4 Develop Ethical Criteria for S Against Against Military Contracts The Boeing Co. BA 097023105 5/3/04 5 Adopt Amended Workplace Code of S Against Against Conduct The Boeing Co. BA 097023105 5/3/04 6 Declassify the Board of Directors S Against For The Boeing Co. BA 097023105 5/3/04 7 Amend Vote Requirements to Amend S Against For Articles/Bylaws/Charter The Boeing Co. BA 097023105 5/3/04 8 Submit Severance Agreement S Against For (Change-in-Control) to Shareholder Vote The Boeing Co. BA 097023105 5/3/04 9 Adopt a Policy that will Commit S Against For Executive & Directors to Hold at least 75% of their Shares The Boeing Co. BA 097023105 5/3/04 10 Provide Employees Choice of Pension S Against Against Plans at Retirement or Termination Pitney Bowes Inc. PBI 724479100 5/10/04 1.1 Elect Director Linda G. Alvarado M For For Pitney Bowes Inc. PBI 724479100 5/10/04 1.2 Elect Director Ernie Green M For For Pitney Bowes Inc. PBI 724479100 5/10/04 1.3 Elect Director John S. McFarlane M For For Pitney Bowes Inc. PBI 724479100 5/10/04 1.4 Elect Director Eduardo R. Menasce M For For Pitney Bowes Inc. PBI 724479100 5/10/04 2 Ratify Auditors M For For Pitney Bowes Inc. PBI 724479100 5/10/04 3 Report on Political Contributions/ S Against Against Activities Apache Corp. APA 037411105 5/6/04 1.1 Elect Director Eugene C. Fiedorek M For For Apache Corp. APA 037411105 5/6/04 1.2 Elect Director Patricia Albjerg M For For Graham Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Apache Corp. APA 037411105 5/6/04 1.3 Elect Director F. H. Merelli M For For Apache Corp. APA 037411105 5/6/04 1.4 Elect Director Raymond Plank M For For Apache Corp. APA 037411105 5/6/04 2 Report on Greenhouse Gas Emissions S Against Against Amerada Hess Corp. AHC 023551104 5/5/04 1.1 Elect Director Nicholas F. Brady M For Withhold Amerada Hess Corp. AHC 023551104 5/5/04 1.2 Elect Director J. Barclay Collins M For For II Amerada Hess Corp. AHC 023551104 5/5/04 1.3 Elect Director Thomas H. Kean M For For Amerada Hess Corp. AHC 023551104 5/5/04 1.4 Elect Director Frank A. Olson M For For Amerada Hess Corp. AHC 023551104 5/5/04 2 Ratify Auditors M For For Amerada Hess Corp. AHC 023551104 5/5/04 3 Amend Omnibus Stock Plan M For For Amerada Hess Corp. AHC 023551104 5/5/04 4 Establish Other Board Committee S Against Against The Dow Chemical Company DOW 260543103 5/13/04 1.1 Elect Director Arnold A. Allemang M For For The Dow Chemical Company DOW 260543103 5/13/04 1.2 Elect Director John C. Danforth M For For The Dow Chemical Company DOW 260543103 5/13/04 1.3 Elect Director Jeff M. Fettig M For For The Dow Chemical Company DOW 260543103 5/13/04 1.4 Elect Director Andrew N. Liveris M For For The Dow Chemical Company DOW 260543103 5/13/04 1.5 Elect Director James M. Ringler M For For The Dow Chemical Company DOW 260543103 5/13/04 1.6 Elect Director William S. M For For Stavropoulos The Dow Chemical Company DOW 260543103 5/13/04 2 Ratify Auditors M For For The Dow Chemical Company DOW 260543103 5/13/04 3 Declassify the Board of Directors M For For The Dow Chemical Company DOW 260543103 5/13/04 4 Report on Social Initiatives in S Against Against Bhopal Valero Energy Corp. VLO 91913Y100 4/29/04 1.1 Elect Director E. Glenn Biggs M For For Valero Energy Corp. VLO 91913Y100 4/29/04 1.2 Elect Director Ruben M. Escobedo M For For Valero Energy Corp. VLO 91913Y100 4/29/04 1.3 Elect Director Bob Marbut M For For Valero Energy Corp. VLO 91913Y100 4/29/04 2 Ratify Auditors M For For Valero Energy Corp. VLO 91913Y100 4/29/04 3 Report on Greenhouse Gas Emissions S Against Against Entergy Corp. ETR 29364G103 5/14/04 1.1 Elect Director Maureen Scannell M For For Bateman Entergy Corp. ETR 29364G103 5/14/04 1.2 Elect Director W. Frank Blount M For For Entergy Corp. ETR 29364G103 5/14/04 1.3 Elect Director Simon D. deBree M For For Entergy Corp. ETR 29364G103 5/14/04 1.4 Elect Director Claiborne P. Deming M For For Entergy Corp. ETR 29364G103 5/14/04 1.5 Elect Director Alexis M. Herman M For For Entergy Corp. ETR 29364G103 5/14/04 1.6 Elect Director Donald C. Hintz M For For Entergy Corp. ETR 29364G103 5/14/04 1.7 Elect Director J. Wayne Leonard M For For Entergy Corp. ETR 29364G103 5/14/04 1.8 Elect Director Robert v.d. Luft M For For Entergy Corp. ETR 29364G103 5/14/04 1.9 Elect Director Kathleen A. Murphy M For For Entergy Corp. ETR 29364G103 5/14/04 1.10 Elect Director Paul W. Murrill M For For Entergy Corp. ETR 29364G103 5/14/04 1.11 Elect Director James R. Nichols M For For Entergy Corp. ETR 29364G103 5/14/04 1.12 Elect Director William A. Percy, II M For For Entergy Corp. ETR 29364G103 5/14/04 1.13 Elect Director Dennis H. Reilley M For For Entergy Corp. ETR 29364G103 5/14/04 1.14 Elect Director Wm. Clifford Smith M For For Entergy Corp. ETR 29364G103 5/14/04 1.15 Elect Director Bismark A. M For For Steinhagen Entergy Corp. ETR 29364G103 5/14/04 1.16 Elect Director Steven V. Wilkinson M For For Entergy Corp. ETR 29364G103 5/14/04 2 Ratify Auditors M For For Entergy Corp. ETR 29364G103 5/14/04 3 Submit Severance Agreement S Against For (Change-in-Control) to Shareholder Vote Entergy Corp. ETR 29364G103 5/14/04 4 Restore or Provide for Cumulative S Against For Voting Entergy Corp. ETR 29364G103 5/14/04 5 Prohibit Awards to Executives S Against Against Progress Energy, Inc. PGN 743263105 5/12/04 1.1 Elect Director Charles Coker M For For Progress Energy, Inc. PGN 743263105 5/12/04 1.2 Elect Director Robert McGehee M For For Progress Energy, Inc. PGN 743263105 5/12/04 1.3 Elect Director E. Marie McKee M For For Progress Energy, Inc. PGN 743263105 5/12/04 1.4 Elect Director Peter Rummell M For For Progress Energy, Inc. PGN 743263105 5/12/04 1.5 Elect Director Jean Wittner M For For Progress Energy, Inc. PGN 743263105 5/12/04 2 Prohibit Awards to Executives S Against Against Xl Capital Ltd (Formerly XL G98255105 4/30/04 1.1 Elect Director John Loudon M For For Exel Ltd.) Xl Capital Ltd (Formerly XL G98255105 4/30/04 1.2 Elect Director Robert S. Parker M For For Exel Ltd.) Xl Capital Ltd (Formerly XL G98255105 4/30/04 1.3 Elect Director Alan Z. Senter M For For Exel Ltd.) Xl Capital Ltd (Formerly XL G98255105 4/30/04 2 Ratify Auditors M For For Exel Ltd.) MBIA Inc. MBI 55262C100 5/6/04 1.1 Elect Director Joseph W. Brown M For For MBIA Inc. MBI 55262C100 5/6/04 1.2 Elect Director C. Edward Chaplin M For For MBIA Inc. MBI 55262C100 5/6/04 1.3 Elect Director David C. Clapp M For For MBIA Inc. MBI 55262C100 5/6/04 1.4 Elect Director Gary C. Dunton M For For MBIA Inc. MBI 55262C100 5/6/04 1.5 Elect Director Claire L. Gaudiani M For For MBIA Inc. MBI 55262C100 5/6/04 1.6 Elect Director Freda S. Johnson M For For MBIA Inc. MBI 55262C100 5/6/04 1.7 Elect Director Daniel P. Kearney M For For MBIA Inc. MBI 55262C100 5/6/04 1.8 Elect Director James A. Lebenthal M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ MBIA Inc. MBI 55262C100 5/6/04 1.9 Elect Director Debra J. Perry M For For MBIA Inc. MBI 55262C100 5/6/04 1.10 Elect Director John A. Rolls M For For MBIA Inc. MBI 55262C100 5/6/04 2 Ratify Auditors M For For ConocoPhillips COP 20825C104 5/5/04 1.1 Elect Director David L. Boren M For For ConocoPhillips COP 20825C104 5/5/04 1.2 Elect Director James E. Copeland, M For For Jr. ConocoPhillips COP 20825C104 5/5/04 1.3 Elect Director Kenneth M. M For For Duberstein ConocoPhillips COP 20825C104 5/5/04 1.4 Elect Director Ruth R. Harkin M For For ConocoPhillips COP 20825C104 5/5/04 1.5 Elect Director William R. Rhodes M For For ConocoPhillips COP 20825C104 5/5/04 1.6 Elect Director J. Stapleton Roy M For For ConocoPhillips COP 20825C104 5/5/04 2 Ratify Auditors M For For ConocoPhillips COP 20825C104 5/5/04 3 Approve Omnibus Stock Plan M For For ConocoPhillips COP 20825C104 5/5/04 4 Limit Executive Compensation S Against Against ConocoPhillips COP 20825C104 5/5/04 5 Limit Executive Compensation S Against Against ConocoPhillips COP 20825C104 5/5/04 6 Report on Drilling in the Arctic S Against Against National Wildlife Refuge Office Depot, Inc. ODP 676220106 5/14/04 1.1 Elect Director Lee A. Ault III M For For Office Depot, Inc. ODP 676220106 5/14/04 1.2 Elect Director Neil R. Austrian M For For Office Depot, Inc. ODP 676220106 5/14/04 1.3 Elect Director David W. Bernauer M For For Office Depot, Inc. ODP 676220106 5/14/04 1.4 Elect Director Abelardo E. Bru M For For Office Depot, Inc. ODP 676220106 5/14/04 1.5 Elect Director David I. Fuente M For For Office Depot, Inc. ODP 676220106 5/14/04 1.6 Elect Director Brenda J. Gaines M For For Office Depot, Inc. ODP 676220106 5/14/04 1.7 Elect Director Myra M. Hart M For For Office Depot, Inc. ODP 676220106 5/14/04 1.8 Elect Director W. Scott Hedrick M For For Office Depot, Inc. ODP 676220106 5/14/04 1.9 Elect Director James L. Heskett M For For Office Depot, Inc. ODP 676220106 5/14/04 1.10 Elect Director Patricia H. McKay M For For Office Depot, Inc. ODP 676220106 5/14/04 1.11 Elect Director Michael J. Myers M For For Office Depot, Inc. ODP 676220106 5/14/04 1.12 Elect Director Bruce Nelson M For For Office Depot, Inc. ODP 676220106 5/14/04 2 Amend Omnibus Stock Plan M For Against Office Depot, Inc. ODP 676220106 5/14/04 3 Ratify Auditors M For For Liz Claiborne, Inc. LIZ 539320101 5/20/04 1.1 Elect Director Raul J. Fernandez M For For Liz Claiborne, Inc. LIZ 539320101 5/20/04 1.2 Elect Director Mary Kay Haben M For For Liz Claiborne, Inc. LIZ 539320101 5/20/04 1.3 Elect Director Kenneth P. Kopelman M For Withhold Liz Claiborne, Inc. LIZ 539320101 5/20/04 1.4 Elect Director Arthur C. Martinez M For For Liz Claiborne, Inc. LIZ 539320101 5/20/04 2 Ratify Auditors M For For First Data Corp. FDC 319963104 5/19/04 1.1 Elect Director Henry C. Duques M For For First Data Corp. FDC 319963104 5/19/04 1.2 Elect Director Charles T. Fote M For For First Data Corp. FDC 319963104 5/19/04 1.3 Elect Director Richard P. Kiphart M For For First Data Corp. FDC 319963104 5/19/04 1.4 Elect Director Joan E. Spero M For For First Data Corp. FDC 319963104 5/19/04 2 Ratify Auditors M For For Colgate-Palmolive Co. CL 194162103 5/7/04 1.1 Elect Director Jill K. Conway M For For Colgate-Palmolive Co. CL 194162103 5/7/04 1.2 Elect Director Ronald E. Ferguson M For For Colgate-Palmolive Co. CL 194162103 5/7/04 1.3 Elect Director Carlos M. Gutierrez M For For Colgate-Palmolive Co. CL 194162103 5/7/04 1.4 Elect Director Ellen M. Hancock M For For Colgate-Palmolive Co. CL 194162103 5/7/04 1.5 Elect Director David W. Johnson M For For Colgate-Palmolive Co. CL 194162103 5/7/04 1.6 Elect Director Richard J. Kogan M For For Colgate-Palmolive Co. CL 194162103 5/7/04 1.7 Elect Director Delano E. Lewis M For For Colgate-Palmolive Co. CL 194162103 5/7/04 1.8 Elect Director Reuben Mark M For For Colgate-Palmolive Co. CL 194162103 5/7/04 1.9 Elect Director Elizabeth A. Monrad M For For Colgate-Palmolive Co. CL 194162103 5/7/04 2 Ratify Auditors M For For Colgate-Palmolive Co. CL 194162103 5/7/04 3 Approve Executive Incentive Bonus M For For Plan Colgate-Palmolive Co. CL 194162103 5/7/04 4 Submit Severance Agreement (Change-in-Control) to Shareholder S Against For Vote Colgate-Palmolive Co. CL 194162103 5/7/04 5 Adopt ILO Based Code of Conduct S Against Against Colgate-Palmolive Co. CL 194162103 5/7/04 6 Separate Chairman and CEO Positions S Against Against Republic Services, Inc. RSG 760759100 5/11/04 1.1 Elect Director James E. O'Connor M For For Republic Services, Inc. RSG 760759100 5/11/04 1.2 Elect Director Harris W. Hudson M For For Republic Services, Inc. RSG 760759100 5/11/04 1.3 Elect Director John W. Croghan M For For Republic Services, Inc. RSG 760759100 5/11/04 1.4 Elect Director W. Lee Nutter M For For Republic Services, Inc. RSG 760759100 5/11/04 1.5 Elect Director Ramon A. Rodriguez M For For Republic Services, Inc. RSG 760759100 5/11/04 1.6 Elect Director Allan C. Sorensen M For For Republic Services, Inc. RSG 760759100 5/11/04 2 Adjourn Meeting M For For Engelhard Corp. EC 292845104 5/6/04 1.1 Elect Director David L. Burner M For For Engelhard Corp. EC 292845104 5/6/04 1.2 Elect Director James V. Napier M For For CIT GROUP INC CIT 125581108 5/12/04 1.1 Elect Director Albert R. Gamper, Jr.M For For CIT GROUP INC CIT 125581108 5/12/04 1.2 Elect Director Gary C. Butler M For For CIT GROUP INC CIT 125581108 5/12/04 1.3 Elect Director William A. Farlinger M For For CIT GROUP INC CIT 125581108 5/12/04 1.4 Elect Director William M. Freeman M For For CIT GROUP INC CIT 125581108 5/12/04 1.5 Elect Director Hon. Thomas H. Kean M For For CIT GROUP INC CIT 125581108 5/12/04 1.6 Elect Director Edward J. Kelly, III M For For CIT GROUP INC CIT 125581108 5/12/04 1.7 Elect Director Marianne Miller M For For Parrs Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ CIT GROUP INC CIT 125581108 5/12/04 1.8 Elect Director Jeffrey M. Peek M For For CIT GROUP INC CIT 125581108 5/12/04 1.9 Elect Director John R. Ryan M For For CIT GROUP INC CIT 125581108 5/12/04 1.10 Elect Director Peter J. Tobin M For For CIT GROUP INC CIT 125581108 5/12/04 1.11 Elect Director Lois M. Van Deusen M For For CIT GROUP INC CIT 125581108 5/12/04 2 Ratify Auditors M For For CIT GROUP INC CIT 125581108 5/12/04 3 Other Business M For Against Time Warner Inc TWX 887317105 5/21/04 1.1 Elect Director James L. Barksdale M For For Time Warner Inc TWX 887317105 5/21/04 1.2 Elect Director Stephen F. M For For Bollenbach Time Warner Inc TWX 887317105 5/21/04 1.3 Elect Director Stephen M. Case M For For Time Warner Inc TWX 887317105 5/21/04 1.4 Elect Director Frank J. Caufield M For For Time Warner Inc TWX 887317105 5/21/04 1.5 Elect Director Robert C. Clark M For For Time Warner Inc TWX 887317105 5/21/04 1.6 Elect Director Miles R. Gilburne M For For Time Warner Inc TWX 887317105 5/21/04 1.7 Elect Director Carla A. Hills M For For Time Warner Inc TWX 887317105 5/21/04 1.8 Elect Director Reuben Mark M For For Time Warner Inc TWX 887317105 5/21/04 1.9 Elect Director Michael A. Miles M For For Time Warner Inc TWX 887317105 5/21/04 1.10 Elect Director Kenneth J. Novack M For For Time Warner Inc TWX 887317105 5/21/04 1.11 Elect Director Richard D. Parsons M For For Time Warner Inc TWX 887317105 5/21/04 1.12 Elect Director R. E. Turner M For For Time Warner Inc TWX 887317105 5/21/04 1.13 Elect Director Francis T. Vincent, M For For Jr. Time Warner Inc TWX 887317105 5/21/04 2 Ratify Auditors M For For Time Warner Inc TWX 887317105 5/21/04 3 Adopt China Principles S Against Against Time Warner Inc TWX 887317105 5/21/04 4 Report on Pay Disparity S Against Against Smurfit - Stone Container SSCC 832727101 5/12/04 1.1 Elect Director James R. Boris M For For Corp. Smurfit - Stone Container SSCC 832727101 5/12/04 1.2 Elect Director Alan E. Goldberg M For For Corp. Smurfit - Stone Container SSCC 832727101 5/12/04 1.3 Elect Director William T. Lynch, Jr.M For For Corp. Smurfit - Stone Container SSCC 832727101 5/12/04 1.4 Elect Director Patrick J. Moore M For For Corp. Smurfit - Stone Container SSCC 832727101 5/12/04 1.5 Elect Director James J. O'Connor M For For Corp. Smurfit - Stone Container SSCC 832727101 5/12/04 1.6 Elect Director Jerry K. Pearlman M For For Corp. Smurfit - Stone Container SSCC 832727101 5/12/04 1.7 Elect Director Thomas A. Reynolds, M For Withhold III Corp. Smurfit - Stone Container SSCC 832727101 5/12/04 1.8 Elect Director William D. Smithburg M For For Corp. Smurfit - Stone Container SSCC 832727101 5/12/04 2 Ratify Auditors M For For Corp. Smurfit - Stone Container SSCC 832727101 5/12/04 3 Approve Omnibus Stock Plan M For For Corp. Smurfit - Stone Container SSCC 832727101 5/12/04 4 Approve Deferred Compensation Plan M For For Corp. Smurfit - Stone Container SSCC 832727101 5/12/04 5 Submit Executive Compensation to S Against Against Vote Corp. McDonald's Corp. MCD 580135101 5/20/04 1.1 Elect Director Edward A. Brennan M For For McDonald's Corp. MCD 580135101 5/20/04 1.2 Elect Director Walter E. Massey M For For McDonald's Corp. MCD 580135101 5/20/04 1.3 Elect Director John W. Rogers, Jr. M For For McDonald's Corp. MCD 580135101 5/20/04 1.4 Elect Director Anne-Marie Slaughter M For For McDonald's Corp. MCD 580135101 5/20/04 1.5 Elect Director Roger W. Stone M For For McDonald's Corp. MCD 580135101 5/20/04 2 Ratify Auditors M For For McDonald's Corp. MCD 580135101 5/20/04 3 Amend Omnibus Stock Plan M For Against McDonald's Corp. MCD 580135101 5/20/04 4 Approve/Amend Executive Incentive M For For Bonus Plan American International AIG 026874107 5/19/04 1.1 Elect Director M. Bernard Aidinoff M For For Group, Inc. American International AIG 026874107 5/19/04 1.2 Elect Director Pei-Yuan Chia M For For Group, Inc. American International AIG 026874107 5/19/04 1.3 Elect Director Marshall A. Cohen M For For Group, Inc. American International AIG 026874107 5/19/04 1.4 Elect Director Willaim S. Cohen M For For Group, Inc. American International AIG 026874107 5/19/04 1.5 Elect Director Martin S. Feldstein M For For Group, Inc. American International AIG 026874107 5/19/04 1.6 Elect Director Ellen V. Futter M For For Group, Inc. American International AIG 026874107 5/19/04 1.7 Elect Director Maurice R. Greenberg M For For Group, Inc. Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ American International AIG 026874107 5/19/04 1.8 Elect Director Carla A. Hills M For For Group, Inc. American International AIG 026874107 5/19/04 1.9 Elect Director Frank J. Hoenemeyer M For For Group, Inc. American International AIG 026874107 5/19/04 1.10 Elect Director Richard C. Holbrooke M For For Group, Inc. American International AIG 026874107 5/19/04 1.11 Elect Director Donald P. Kanak M For For Group, Inc. American International AIG 026874107 5/19/04 1.12 Elect Director Howard I. Smith M For For Group, Inc. American International AIG 026874107 5/19/04 1.13 Elect Director Martin J. Sullivan M For For Group, Inc. American International AIG 026874107 5/19/04 1.14 Elect Director Edmund S.W. Tse M For For Group, Inc. American International AIG 026874107 5/19/04 1.15 Elect Director Frank G. Zarb M For For Group, Inc. American International AIG 026874107 5/19/04 2 Approve Executive Incentive Bonus M For For Plan Group, Inc. American International AIG 026874107 5/19/04 3 Approve Non-Employee Director Stock M For For Option Plan Group, Inc. American International AIG 026874107 5/19/04 4 Ratify Auditors M For For Group, Inc. American International AIG 026874107 5/19/04 5 Report on Political Contributions/ S Against Against Activities Group, Inc. American International AIG 026874107 5/19/04 6 Divest from Tobacco Equities S Against Against Group, Inc. American International AIG 026874107 5/19/04 7 Link Executive Compensation to S Against Against Predatory Lending Group, Inc. Unocal Corp. UCL 915289102 5/24/04 1.1 Elect Director Richard D. McCormick M For For Unocal Corp. UCL 915289102 5/24/04 1.2 Elect Director Marina v.N. Whitman M For For Unocal Corp. UCL 915289102 5/24/04 1.3 Elect Director Charles R. M For For Williamson Unocal Corp. UCL 915289102 5/24/04 2 Ratify Auditors M For For Unocal Corp. UCL 915289102 5/24/04 3 Approve Omnibus Stock Plan M For Against Unocal Corp. UCL 915289102 5/24/04 4 Approve Deferred Compensation Plan M For For Unocal Corp. UCL 915289102 5/24/04 5 Separate Chairman and CEO Positions S Against Against Unocal Corp. UCL 915289102 5/24/04 6 Limit Awards to Executives S Against Against Unocal Corp. UCL 915289102 5/24/04 7 Establish Other Board Committee S Against Against Unocal Corp. UCL 915289102 5/24/04 8 Report on Greenhouse Gas Emissions S Against Against Exxon Mobil Corp. XOM 30231G102 5/26/04 1.1 Elect Director Michael J. Boskin M For For Exxon Mobil Corp. XOM 30231G102 5/26/04 1.2 Elect Director James R. Houghton M For For Exxon Mobil Corp. XOM 30231G102 5/26/04 1.3 Elect Director William R. Howell M For For Exxon Mobil Corp. XOM 30231G102 5/26/04 1.4 Elect Director Reatha Clark King M For For Exxon Mobil Corp. XOM 30231G102 5/26/04 1.5 Elect Director Philip E. Lippincott M For For Exxon Mobil Corp. XOM 30231G102 5/26/04 1.6 Elect Director Harry J. Longwell M For For Exxon Mobil Corp. XOM 30231G102 5/26/04 1.7 Elect Director Henry A. McKinnell, M For For Jr. Exxon Mobil Corp. XOM 30231G102 5/26/04 1.8 Elect Director Marilyn Carlson M For For Nelson Exxon Mobil Corp. XOM 30231G102 5/26/04 1.9 Elect Director Lee R. Raymond M For For Exxon Mobil Corp. XOM 30231G102 5/26/04 1.10 Elect Director Walter V. Shipley M For For Exxon Mobil Corp. XOM 30231G102 5/26/04 1.11 Elect Director Rex W. Tillerson M For For Exxon Mobil Corp. XOM 30231G102 5/26/04 2 Ratify Auditors M For For Exxon Mobil Corp. XOM 30231G102 5/26/04 3 Approve Non-Employee Director M For For Restricted Stock Plan Exxon Mobil Corp. XOM 30231G102 5/26/04 4 Affirm Political Nonpartisanship S Against Against Exxon Mobil Corp. XOM 30231G102 5/26/04 5 Report on Political Contributions/ S Against Against Activities Exxon Mobil Corp. XOM 30231G102 5/26/04 6 Report on Equatorial Guinea S Against Against Exxon Mobil Corp. XOM 30231G102 5/26/04 7 Separate Chairman and CEO Positions S Against Against Exxon Mobil Corp. XOM 30231G102 5/26/04 8 Prohibit Awards to Executives S Against Against Exxon Mobil Corp. XOM 30231G102 5/26/04 9 Report on Stock Option Distribution S Against Against by Race and Gender Exxon Mobil Corp. XOM 30231G102 5/26/04 10 Amend EEO Statement to Include Reference to Sexual Orientation S Against Against Exxon Mobil Corp. XOM 30231G102 5/26/04 11 Report on Climate Change Research S Against Against Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Pinnacle West Capital PNW 723484101 5/19/04 1.1 Elect Director Roy A. Herberger, M For Withhold Jr. Corp. Pinnacle West Capital PNW 723484101 5/19/04 1.2 Elect Director Humberto S. Lopez M For Withhold Corp. Pinnacle West Capital PNW 723484101 5/19/04 1.3 Elect Director Kathryn L. Munro M For Withhold Corp. Pinnacle West Capital PNW 723484101 5/19/04 1.4 Elect Director William L. Stewart M For Withhold Corp. Pinnacle West Capital PNW 723484101 5/19/04 2 Ratify Auditors M For For Corp. Pinnacle West Capital PNW 723484101 5/19/04 3 Report on Nuclear Fuel Storage RisksS Against Against Corp. Mattel, Inc. MAT 577081102 5/13/04 1.1 Elect Director Eugene P. Beard M For For Mattel, Inc. MAT 577081102 5/13/04 1.2 Elect Director Michael J. Dolan M For For Mattel, Inc. MAT 577081102 5/13/04 1.3 Elect Director Robert A. Eckert M For For Mattel, Inc. MAT 577081102 5/13/04 1.4 Elect Director Tully M. Friedman M For For Mattel, Inc. MAT 577081102 5/13/04 1.5 Elect Director Ronald M. Loeb M For For Mattel, Inc. MAT 577081102 5/13/04 1.6 Elect Director Andrea L. Rich M For For Mattel, Inc. MAT 577081102 5/13/04 1.7 Elect Director Ronald L. Sargent M For For Mattel, Inc. MAT 577081102 5/13/04 1.8 Elect Director Christopher A. M For For Sinclair Mattel, Inc. MAT 577081102 5/13/04 1.9 Elect Director G. Craig Sullivan M For For Mattel, Inc. MAT 577081102 5/13/04 1.10 Elect Director John L. Vogelstein M For For Mattel, Inc. MAT 577081102 5/13/04 1.11 Elect Director Kathy Brittain White M For For Mattel, Inc. MAT 577081102 5/13/04 2 Ratify Auditors M For For Mattel, Inc. MAT 577081102 5/13/04 3 Limit Awards to Executives S Against Against Mattel, Inc. MAT 577081102 5/13/04 4 Prohibit Auditor from Providing Non-Audit Services S Against Against Radian Group Inc. RDN 750236101 5/11/04 1.1 Elect Director James W. Jennings M For For Radian Group Inc. RDN 750236101 5/11/04 1.2 Elect Director Roy J. Kasmar M For For Radian Group Inc. RDN 750236101 5/11/04 1.3 Elect Director Herbert Wender M For For Radian Group Inc. RDN 750236101 5/11/04 1.4 Elect Director Jan Nicholson M For For Radian Group Inc. RDN 750236101 5/11/04 2 Amend Omnibus Stock Plan M For Against Radian Group Inc. RDN 750236101 5/11/04 3 Amend Articles M For For Radian Group Inc. RDN 750236101 5/11/04 4 Ratify Auditors M For For J. C. Penney Co., Inc JCP 708160106 5/14/04 1.1 Elect Director Colleen C. Barrett M For Withhold (HLDG CO) J. C. Penney Co., Inc JCP 708160106 5/14/04 1.2 Elect Director M.Anthony Burns M For Withhold (HLDG CO) J. C. Penney Co., Inc JCP 708160106 5/14/04 1.3 Elect Director Maxine K. Clark M For Withhold (HLDG CO) J. C. Penney Co., Inc JCP 708160106 5/14/04 1.4 Elect Director Allen Questrom M For Withhold (HLDG CO) J. C. Penney Co., Inc JCP 708160106 5/14/04 2 Ratify Auditors M For For (HLDG CO) Masco Corp. MAS 574599106 5/11/04 1.1 Elect Director Peter A. Dow M For For Masco Corp. MAS 574599106 5/11/04 1.2 Elect Director Anthony F. Earley, M For For Jr. Masco Corp. MAS 574599106 5/11/04 1.3 Elect Director Wayne B. Lyon M For For Masco Corp. MAS 574599106 5/11/04 1.4 Elect Director David L. Johnston M For For Masco Corp. MAS 574599106 5/11/04 1.5 Elect Director J. Michael Losh M For For Masco Corp. MAS 574599106 5/11/04 2 Approve Executive Incentive Bonus M For For Plan Masco Corp. MAS 574599106 5/11/04 3 Ratify Auditors M For For Equity Office Properties EOP 294741103 5/19/04 1.1 Elect Director Thomas E. Dobrowski M For For Trust Equity Office Properties EOP 294741103 5/19/04 1.2 Elect Director William M. Goodyear M For For Trust Equity Office Properties EOP 294741103 5/19/04 1.3 Elect Director James D. Harper, Jr. M For For Trust Equity Office Properties EOP 294741103 5/19/04 1.4 Elect Director Richard D. Kincaid M For For Trust Equity Office Properties EOP 294741103 5/19/04 1.5 Elect Director David K. Mckown M For For Trust Equity Office Properties EOP 294741103 5/19/04 1.6 Elect Director Sheli Z. Rosenberg M For For Trust Equity Office Properties EOP 294741103 5/19/04 1.7 Elect Director Edwin N. Sidman M For For Trust Equity Office Properties EOP 294741103 5/19/04 1.8 Elect Director J. H.W.R. Van Der M For For Vlist Trust Equity Office Properties EOP 294741103 5/19/04 1.9 Elect Director Samuel Zell M For For Trust Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Equity Office Properties EOP 294741103 5/19/04 2 Ratify Auditors M For For Trust Limited Brands LTD 532716107 5/17/04 1.1 Elect Director Eugene M. Freedman M For For Limited Brands LTD 532716107 5/17/04 1.2 Elect Director V. Ann Hailey M For For Limited Brands LTD 532716107 5/17/04 1.3 Elect Director David T. Kollat M For For Limited Brands LTD 532716107 5/17/04 1.4 Elect Director Leslie H. Wexner M For For Limited Brands LTD 532716107 5/17/04 2 Amend Omnibus Stock Plan M For For Old Republic ORI 680223104 5/28/04 1.1 Elect Director Jimmy A. Dew M For For International Corp. Old Republic ORI 680223104 5/28/04 1.2 Elect Director John M. Dixon M For For International Corp. Old Republic ORI 680223104 5/28/04 1.3 Elect Director Wilbur S. Legg M For For International Corp. Old Republic ORI 680223104 5/28/04 1.4 Elect Director John W. Popp M For For International Corp. Edison International EIX 281020107 5/20/04 1.1 Elect Director John E. Bryson M For For Edison International EIX 281020107 5/20/04 1.2 Elect Director France A. Cordova M For For Edison International EIX 281020107 5/20/04 1.3 Elect Director Bradford M. Freeman M For For Edison International EIX 281020107 5/20/04 1.4 Elect Director Bruce Karatz M For For Edison International EIX 281020107 5/20/04 1.5 Elect Director Luis G. Nogales M For For Edison International EIX 281020107 5/20/04 1.6 Elect Director Ronald L. Olson M For Withhold Edison International EIX 281020107 5/20/04 1.7 Elect Director James M. Rosser M For For Edison International EIX 281020107 5/20/04 1.8 Elect Director Richard T. M For For Schlosberg, III Edison International EIX 281020107 5/20/04 1.9 Elect Director Robert H. Smith M For For Edison International EIX 281020107 5/20/04 1.10 Elect Director Thomas C. Sutton M For For Edison International EIX 281020107 5/20/04 2 Submit Shareholder Rights Plan (Poison Pill) to Shareholder Vote S Against For Vishay Intertechnology, VSH 928298108 5/12/04 1.1 Elect Director Dr. Felix Zandman M For For Inc. Vishay Intertechnology, VSH 928298108 5/12/04 1.2 Elect Director Philippe Gazeau M For For Inc. Vishay Intertechnology, VSH 928298108 5/12/04 1.3 Elect Director Zvi Grinfas M For For Inc. Vishay Intertechnology, VSH 928298108 5/12/04 1.4 Elect Director Dr. Gerald Paul M For For Inc. Vishay Intertechnology, VSH 928298108 5/12/04 2 Ratify Auditors M For For Inc. Vishay Intertechnology, VSH 928298108 5/12/04 3 Amend Executive Incentive Bonus M For Against Plan Inc. Vishay Intertechnology, VSH 928298108 5/12/04 4 Approve Restricted Stock Plan M For For Inc. Southwest Airlines Co. LUV 844741108 5/19/04 1.1 Elect Director Herbert D. Kelleher M For Withhold Southwest Airlines Co. LUV 844741108 5/19/04 1.2 Elect Director Rollin W. King M For Withhold Southwest Airlines Co. LUV 844741108 5/19/04 1.3 Elect Director June M. Morris M For Withhold Southwest Airlines Co. LUV 844741108 5/19/04 1.4 Elect Director C. Webb Crockett M For Withhold Southwest Airlines Co. LUV 844741108 5/19/04 1.5 Elect Director William P. Hobby M For Withhold Southwest Airlines Co. LUV 844741108 5/19/04 1.6 Elect Director Travis C. Johnson M For Withhold Southwest Airlines Co. LUV 844741108 5/19/04 2 Ratify Auditors M For For Lear Corporation LEA 521865105 5/13/04 1.1 Elect Director Larry W. McCurdy M For For Lear Corporation LEA 521865105 5/13/04 1.2 Elect Director Roy E. Parrott M For For Lear Corporation LEA 521865105 5/13/04 1.3 Elect Director Richard F. Wallman M For For Lear Corporation LEA 521865105 5/13/04 2 Ratify Auditors M For For Lear Corporation LEA 521865105 5/13/04 3 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote Hilton Hotels Corp. HLT 432848109 5/27/04 1.1 Elect Director A. Steven Crown M For For Hilton Hotels Corp. HLT 432848109 5/27/04 1.2 Elect Director David Michels M For For Hilton Hotels Corp. HLT 432848109 5/27/04 1.3 Elect Director John H. Myers M For For Hilton Hotels Corp. HLT 432848109 5/27/04 1.4 Elect Director Donna F. Tuttle M For For Hilton Hotels Corp. HLT 432848109 5/27/04 2 Ratify Auditors M For For Hilton Hotels Corp. HLT 432848109 5/27/04 3 Approve Omnibus Stock Plan M For For Hilton Hotels Corp. HLT 432848109 5/27/04 4 Approve Incentive Bonus Plan M For For Hilton Hotels Corp. HLT 432848109 5/27/04 5 Declassify the Board of Directors S Against For Hilton Hotels Corp. HLT 432848109 5/27/04 6 Require Majority of Independent Directors on Board S Against Against Northrop Grumman Corp. NOC 666807102 5/18/04 1.1 Elect Director Lewis W. Coleman M For Withhold Northrop Grumman Corp. NOC 666807102 5/18/04 1.2 Elect Director J. Michael Cook M For Withhold Northrop Grumman Corp. NOC 666807102 5/18/04 1.3 Elect Director Philip A. Odeen M For Withhold Northrop Grumman Corp. NOC 666807102 5/18/04 1.4 Elect Director Aulana L. Peters M For Withhold Northrop Grumman Corp. NOC 666807102 5/18/04 1.5 Elect Director Kevin W. Sharer M For Withhold Northrop Grumman Corp. NOC 666807102 5/18/04 2 Ratify Auditors M For For Northrop Grumman Corp. NOC 666807102 5/18/04 3 Develop Ethical Criteria for S Against Against Military Contracts Northrop Grumman Corp. NOC 666807102 5/18/04 4 Declassify the Board of Directors S Against For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Aon Corp. AOC 037389103 5/21/04 1.1 Elect Director Patrick G. Ryan M For Withhold Aon Corp. AOC 037389103 5/21/04 1.2 Elect Director Edgar D. Jannotta M For Withhold Aon Corp. AOC 037389103 5/21/04 1.3 Elect Director Jan Kalff M For Withhold Aon Corp. AOC 037389103 5/21/04 1.4 Elect Director Lester B. Knight M For Withhold Aon Corp. AOC 037389103 5/21/04 1.5 Elect Director J. Michael Losh M For Withhold Aon Corp. AOC 037389103 5/21/04 1.6 Elect Director R. Eden Martin M For Withhold Aon Corp. AOC 037389103 5/21/04 1.7 Elect Director Andrew J. McKenna M For Withhold Aon Corp. AOC 037389103 5/21/04 1.8 Elect Director Robert S. Morrison M For Withhold Aon Corp. AOC 037389103 5/21/04 1.9 Elect Director Richard C. Notebaert M For Withhold Aon Corp. AOC 037389103 5/21/04 1.10 Elect Director Michael D. M For Withhold O'Halleran Aon Corp. AOC 037389103 5/21/04 1.11 Elect Director John W. Rogers, Jr. M For Withhold Aon Corp. AOC 037389103 5/21/04 1.12 Elect Director Gloria Santona M For Withhold Aon Corp. AOC 037389103 5/21/04 1.13 Elect Director Carolyn Y. Woo M For Withhold Aon Corp. AOC 037389103 5/21/04 2 Ratify Auditors M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.1 Elect Director James W. Breyer M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.2 Elect Director M. Michele Burns M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.3 Elect Director Thomas M. Coughlin M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.4 Elect Director David D. Glass M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.5 Elect Director Roland A. Hernandez M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.6 Elect Director Dawn G. Lepore M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.7 Elect Director John D. Opie M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.8 Elect Director J. Paul Reason M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.9 Elect Director H. Lee Scott, Jr. M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.10 Elect Director Jack C. Shewmaker M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.11 Elect Director Jose H. Villarreal M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.12 Elect Director John T. Walton M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.13 Elect Director S. Robson Walton M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 1.14 Elect Director Christopher J. M For For Williams Wal-Mart Stores, Inc. WMT 931142103 6/4/04 2 Approve Stock Option Plan M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 3 Approve Stock Option Plan M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 4 Amend Employee Stock Purchase Plan M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 5 Ratify Auditors M For For Wal-Mart Stores, Inc. WMT 931142103 6/4/04 6 Separate Chairman and CEO Positions S Against Against Wal-Mart Stores, Inc. WMT 931142103 6/4/04 7 Prepare Sustainability Report S Against Against Wal-Mart Stores, Inc. WMT 931142103 6/4/04 8 Report on Stock Option Distribution S Against Against by Race and Gender Wal-Mart Stores, Inc. WMT 931142103 6/4/04 9 Report on Genetically Modified S Against Against Organisms (GMO) Wal-Mart Stores, Inc. WMT 931142103 6/4/04 10 Prepare Diversity Report S Against Against Wal-Mart Stores, Inc. WMT 931142103 6/4/04 11 Submit Executive Compensation to S Against Against Vote Viacom Inc. VIA 925524308 5/19/04 1.1 Elect Director George S. Abrams M For Withhold Viacom Inc. VIA 925524308 5/19/04 1.2 Elect Director David R. Andelman M For Withhold Viacom Inc. VIA 925524308 5/19/04 1.3 Elect Director Joseph A. Califano, M For Withhold Jr. Viacom Inc. VIA 925524308 5/19/04 1.4 Elect Director William S. Cohen M For Withhold Viacom Inc. VIA 925524308 5/19/04 1.5 Elect Director Philippe P. Dauman M For Withhold Viacom Inc. VIA 925524308 5/19/04 1.6 Elect Director Alan C. Greenberg M For Withhold Viacom Inc. VIA 925524308 5/19/04 1.7 Elect Director Mel Karmazin M For Withhold Viacom Inc. VIA 925524308 5/19/04 1.8 Elect Director Jan Leschly M For Withhold Viacom Inc. VIA 925524308 5/19/04 1.9 Elect Director David T. McLaughlin M For Withhold Viacom Inc. VIA 925524308 5/19/04 1.10 Elect Director Shari Redstone M For Withhold Viacom Inc. VIA 925524308 5/19/04 1.11 Elect Director Sumner M. Redstone M For Withhold Viacom Inc. VIA 925524308 5/19/04 1.12 Elect Director Frederic V. Salerno M For Withhold Viacom Inc. VIA 925524308 5/19/04 1.13 Elect Director William Schwartz M For Withhold Viacom Inc. VIA 925524308 5/19/04 1.14 Elect Director Patty Stonesifer M For Withhold Viacom Inc. VIA 925524308 5/19/04 1.15 Elect Director Robert D. Walter M For Withhold Viacom Inc. VIA 925524308 5/19/04 2 Ratify Auditors M For For Viacom Inc. VIA 925524308 5/19/04 3 Approve Omnibus Stock Plan M For For Viacom Inc. VIA 925524308 5/19/04 4 Amend Non-Employee Director Stock M For For Option Plan Lowe LOW 548661107 5/28/04 1.1 Elect Director Leonard L. Berry M For For Lowe LOW 548661107 5/28/04 1.2 Elect Director Paul Fulton M For For Lowe LOW 548661107 5/28/04 1.3 Elect Director Dawn E. Hudson M For Withhold Lowe LOW 548661107 5/28/04 1.4 Elect Director Marshall O. Larsen M For For Lowe LOW 548661107 5/28/04 1.5 Elect Director Robert A. Niblock M For For Lowe LOW 548661107 5/28/04 1.6 Elect Director Stephen F. Page M For For Lowe LOW 548661107 5/28/04 1.7 Elect Director O. Temple Sloan, Jr. M For For Lowe LOW 548661107 5/28/04 1.8 Elect Director Robert L. Tillman M For For Lowe LOW 548661107 5/28/04 2 Ratify Auditors M For For JP Morgan Chase & Co. JPM 46625H100 5/25/04 1 Approve Merger Agreement M For For JP Morgan Chase & Co. JPM 46625H100 5/25/04 2.1 Elect Director Hans W. Becherer M For For JP Morgan Chase & Co. JPM 46625H100 5/25/04 2.2 Elect Director Frank A. Bennack, Jr.M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ JP Morgan Chase & Co. JPM 46625H100 5/25/04 2.3 Elect Director John H. Biggs M For For JP Morgan Chase & Co. JPM 46625H100 5/25/04 2.4 Elect Director Lawrence A. Bossidy M For For JP Morgan Chase & Co. JPM 46625H100 5/25/04 2.5 Elect Director Ellen V. Futter M For For JP Morgan Chase & Co. JPM 46625H100 5/25/04 2.6 Elect Director William H. Gray, III M For For JP Morgan Chase & Co. JPM 46625H100 5/25/04 2.7 Elect Director William B. Harrison, M For For Jr JP Morgan Chase & Co. JPM 46625H100 5/25/04 2.8 Elect Director Helene L. Kaplan M For For JP Morgan Chase & Co. JPM 46625H100 5/25/04 2.9 Elect Director Lee R. Raymond M For For JP Morgan Chase & Co. JPM 46625H100 5/25/04 2.10 Elect Director John R. Stafford M For For JP Morgan Chase & Co. JPM 46625H100 5/25/04 3 Ratify Auditors M For For JP Morgan Chase & Co. JPM 46625H100 5/25/04 4 Amend Executive Incentive Bonus M For For Plan JP Morgan Chase & Co. JPM 46625H100 5/25/04 5 Adjourn Meeting M For For JP Morgan Chase & Co. JPM 46625H100 5/25/04 6 Establish Term Limits for Directors S Against Against JP Morgan Chase & Co. JPM 46625H100 5/25/04 7 Charitable Contributions S Against Against JP Morgan Chase & Co. JPM 46625H100 5/25/04 8 Political Contributions S Against Against JP Morgan Chase & Co. JPM 46625H100 5/25/04 9 Separate Chairman and CEO Positions S Against Against JP Morgan Chase & Co. JPM 46625H100 5/25/04 10 Provide Adequate Disclosure for S Against Against over the counter Derivatives JP Morgan Chase & Co. JPM 46625H100 5/25/04 11 Auditor Independence S Against Against JP Morgan Chase & Co. JPM 46625H100 5/25/04 12 Submit Non-Employee Director S Against Against Compensation to Vote JP Morgan Chase & Co. JPM 46625H100 5/25/04 13 Report on Pay Disparity S Against Against Ace Ltd. ACE G0070K103 5/27/04 1.1 Elect Director Brian Duperreault M For For Ace Ltd. ACE G0070K103 5/27/04 1.2 Elect Director Robert M. Hernandez M For For Ace Ltd. ACE G0070K103 5/27/04 1.3 Elect Director Peter Menikoff M For For Ace Ltd. ACE G0070K103 5/27/04 1.4 Elect Director Robert Ripp M For For Ace Ltd. ACE G0070K103 5/27/04 1.5 Elect Director Dermot F. Smurfit M For For Ace Ltd. ACE G0070K103 5/27/04 2 PROPOSAL TO APPROVE THE ACE LIMITED M For Against 2004 LONG-TERM INCENTIVE PLAN. Ace Ltd. ACE G0070K103 5/27/04 3 PROPOSAL TO RATIFY THE APPOINTMENT M For For OF PRICEWATERHOUSECOOPERS LLP AS THE INDEPENDENT ACCOUNTANTS OF ACE LIMITED FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004. Fannie Mae FNM 313586109 5/25/04 1.1 Elect Director Stephen B. Ashley M For For Fannie Mae FNM 313586109 5/25/04 1.2 Elect Director Kenneth M. M For Withhold Duberstein Fannie Mae FNM 313586109 5/25/04 1.3 Elect Director Thomas P. Gerrity M For For Fannie Mae FNM 313586109 5/25/04 1.4 Elect Director Timothy Howard M For For Fannie Mae FNM 313586109 5/25/04 1.5 Elect Director Ann Korologos M For For Fannie Mae FNM 313586109 5/25/04 1.6 Elect Director Frederic V. Malek M For For Fannie Mae FNM 313586109 5/25/04 1.7 Elect Director Donald B. Marron M For For Fannie Mae FNM 313586109 5/25/04 1.8 Elect Director Daniel H. Mudd M For For Fannie Mae FNM 313586109 5/25/04 1.9 Elect Director Anne M. Mulcahy M For For Fannie Mae FNM 313586109 5/25/04 1.10 Elect Director Joe K. Pickett M For For Fannie Mae FNM 313586109 5/25/04 1.11 Elect Director Leslie Rahl M For For Fannie Mae FNM 313586109 5/25/04 1.12 Elect Director Franklin D. Raines M For For Fannie Mae FNM 313586109 5/25/04 1.13 Elect Director H. Patrick Swygert M For For Fannie Mae FNM 313586109 5/25/04 2 Ratify Auditors M For For Fannie Mae FNM 313586109 5/25/04 3 Amend Employee Stock Purchase Plan M For For Fannie Mae FNM 313586109 5/25/04 4 Provide for Cumulative Voting S Against Against The TJX Companies, Inc. TJX 872540109 6/1/04 1.1 Elect Director Gary L. Crittenden M For For The TJX Companies, Inc. TJX 872540109 6/1/04 1.2 Elect Director Edmond J. English M For For The TJX Companies, Inc. TJX 872540109 6/1/04 1.3 Elect Director Richard G. Lesser M For For The TJX Companies, Inc. TJX 872540109 6/1/04 2 Amend Omnibus Stock Plan M For Against The TJX Companies, Inc. TJX 872540109 6/1/04 3 Implement ILO Based Code of Conduct S Against Against The TJX Companies, Inc. TJX 872540109 6/1/04 4 Report on Vendor Standards S Against Against The TJX Companies, Inc. TJX 872540109 6/1/04 5 Declassify the Board of Directors S Against For GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 1.1 Elect Director Ferdinand A. Berger M For Withhold (formerly Santa Fe International Corp) GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 1.2 Elect Director Khaled R. Al-Haroon M For Withhold (formerly Santa Fe International Corp) GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 1.3 Elect Director Edward R. Muller M For Withhold (formerly Santa Fe International Corp) GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 1.4 Elect Director Paul J. Powers M For Withhold (formerly Santa Fe International Corp) Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF PUTNAM EQUITY INCOME FUND Management Mtg Ballot Item or Vote Company Ticker Security Date Issues Description Shareholder Mgmt Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 1.5 Elect Director John L. Whitmire M For Withhold (formerly Santa Fe International Corp) GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 2 PROPOSAL TO APPROVE A SPECIAL M For For (formerly Santa Fe RESOLUTION TO AMEND THE COMPANY S International Corp) AMENDED AND RESTATED ARTICLES OF ASSOCIATION TO PERMIT TELEPHONIC AND INTERNET VOTING BY RECORD SHAREHOLDERS. GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 3 PROPOSAL TO APPROVE A SPECIAL M For For (formerly Santa Fe RESOLUTION TO AMEND THE COMPANY S International Corp) AMENDED AND RESTATED ARTICLES OF ASSOCIATION TO REMOVE THE LANGUAGE NO SHARE OWNERSHIP QUALIFICATION FOR DIRECTORS SHALL BE REQUIRED. GLOBAL SANTA FE CORP. GSF G3930E101 6/9/04 4 PROPOSAL TO RATIFY THE APPOINTMENT M For For (formerly Santa Fe OF PRICEWATERHOUSECOOPERS LLP AS International Corp) THE INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS OF THE COMPANY AND ITS SUBSIDIARIES FOR THE YEAR ENDING DECEMBER 31, 2004. Bank of America Corp. BAC 060505104 5/26/04 1.1 Elect Director William Barnet, III M For For Bank of America Corp. BAC 060505104 5/26/04 1.2 Elect Director Charles W. Coker M For For Bank of America Corp. BAC 060505104 5/26/04 1.3 Elect Director John T. Collins M For For Bank of America Corp. BAC 060505104 5/26/04 1.4 Elect Director Gary L. Countryman M For For Bank of America Corp. BAC 060505104 5/26/04 1.5 Elect Director Paul Fulton M For For Bank of America Corp. BAC 060505104 5/26/04 1.6 Elect Director Charles K. Gifford M For For Bank of America Corp. BAC 060505104 5/26/04 1.7 Elect Director Donald E. Guinn M For For Bank of America Corp. BAC 060505104 5/26/04 1.8 Elect Director James H. Hance, Jr. M For For Bank of America Corp. BAC 060505104 5/26/04 1.9 Elect Director Kenneth D. Lewis M For For Bank of America Corp. BAC 060505104 5/26/04 1.10 Elect Director Walter E. Massey M For For Bank of America Corp. BAC 060505104 5/26/04 1.11 Elect Director Thomas J. May M For For Bank of America Corp. BAC 060505104 5/26/04 1.12 Elect Director C. Steven McMillan M For For Bank of America Corp. BAC 060505104 5/26/04 1.13 Elect Director Eugene M. McQuade M For For Bank of America Corp. BAC 060505104 5/26/04 1.14 Elect Director Patricia E. Mitchell M For For Bank of America Corp. BAC 060505104 5/26/04 1.15 Elect Director Edward L. Romero M For For Bank of America Corp. BAC 060505104 5/26/04 1.16 Elect Director Thomas M. Ryan M For For Bank of America Corp. BAC 060505104 5/26/04 1.17 Elect Director O. Temple Sloan, Jr. M For For Bank of America Corp. BAC 060505104 5/26/04 1.18 Elect Director Meredith R. Spangler M For For Bank of America Corp. BAC 060505104 5/26/04 1.19 Elect Director Jackie M. Ward M For For Bank of America Corp. BAC 060505104 5/26/04 2 Ratify Auditors M For For Bank of America Corp. BAC 060505104 5/26/04 3 Change Date of Annual Meeting S Against Against Bank of America Corp. BAC 060505104 5/26/04 4 Adopt Nomination Procedures for the S Against Against Board Bank of America Corp. BAC 060505104 5/26/04 5 Charitable Contributions S Against Against Bank of America Corp. BAC 060505104 5/26/04 6 Establish Independent Committee to S Against Against Review Mutual Fund Policy Bank of America Corp. BAC 060505104 5/26/04 7 Adopt Standards Regarding Privacy S Against Against and Information Security The PMI Group, Inc. PMI 69344M101 5/27/04 1.1 Elect Director Mariann Byerwalter M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.2 Elect Director James C. Castle M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.3 Elect Director Carmine Guerro M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.4 Elect Director W. Roger Haughton M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.5 Elect Director Wayne E. Hedien M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.6 Elect Director Louis G. Lower II M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.7 Elect Director Raymond L. Ocampo Jr.M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.8 Elect Director John D. Roach M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.9 Elect Director Kenneth T. Rosen M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.10 Elect Director Steven L. Scheid M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.11 Elect Director L. Stephen Smith M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.12 Elect Director Richard L. Thomas M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.13 Elect Director Mary Lee Widener M For For The PMI Group, Inc. PMI 69344M101 5/27/04 1.14 Elect Director Ronald H. Zech M For For The PMI Group, Inc. PMI 69344M101 5/27/04 2 Ratify Auditors M For For The PMI Group, Inc. PMI 69344M101 5/27/04 3 Amend Omnibus Stock Plan M For For The PMI Group, Inc. PMI 69344M101 5/27/04 4 Approve Deferred Compensation Plan M For For The PMI Group, Inc. PMI 69344M101 5/27/04 5 Approve Executive Incentive Bonus M For For Plan Countrywide Financial CFC 222372104 6/16/04 1.1 Elect Director Henry G. Cisneros M For For Corp. Countrywide Financial CFC 222372104 6/16/04 1.2 Elect Director Robert J. Donato M For For Countrywide Financial CFC 222372104 6/16/04 1.3 Elect Director Michael E. Dougherty M For For Countrywide Financial CFC 222372104 6/16/04 1.4 Elect Director Martin R. Melone M For For Countrywide Financial CFC 222372104 6/16/04 1.5 Elect Director Harley W. Snyder M For For Countrywide Financial CFC 222372104 6/16/04 2 Amend Omnibus Stock Plan M For Against Liberty Media Corp. L 530718105 6/9/04 1.1 Elect Director Robert R. Bennett M For For Liberty Media Corp. L 530718105 6/9/04 1.2 Elect Director Paul A. Gould M For For Liberty Media Corp. L 530718105 6/9/04 1.3 Elect Director John C. Malone M For For Liberty Media Corp. L 530718105 6/9/04 2 Amend Executive Incentive Bonus M For For Plan Liberty Media Corp. L 530718105 6/9/04 3 Ratify Auditors M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 1, 2003 - December 31, 2004 PF PUTNAM RESEARCH FUND Management Ballot Item or Mgmt Vote Company Ticker Security Mtg Date Issues Description Shareholder Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Dell Inc. DELL 247025109 2003-07-18 1.1 Elect Director Michael A. Miles M For Withhold Dell Inc. DELL 247025109 2003-07-18 1.2 Elect Director Alex J. Mandl M For Withhold Dell Inc. DELL 247025109 2003-07-18 1.3 Elect Director Morton L. Topfer M For Withhold Dell Inc. DELL 247025109 2003-07-18 2 Declassify the Board of Directors M For For Dell Inc. DELL 247025109 2003-07-18 3 Change Company Name M For For Dell Inc. DELL 247025109 2003-07-18 4 Approve Executive Incentive M For For Bonus Plan Forest Laboratories, Inc. FRX 345838106 2003-08-11 1.1 Elect Director Howard Solomon M For Withhold Forest Laboratories, Inc. FRX 345838106 2003-08-11 1.2 Elect Director William J. M For Withhold Candee, III Forest Laboratories, Inc. FRX 345838106 2003-08-11 1.3 Elect Director George S. Cohan M For Withhold Forest Laboratories, Inc. FRX 345838106 2003-08-11 1.4 Elect Director Dan L. Goldwasser M For Withhold Forest Laboratories, Inc. FRX 345838106 2003-08-11 1.5 Elect Director Lester B. M For Withhold Salans, M.D. Forest Laboratories, Inc. FRX 345838106 2003-08-11 1.6 Elect Director Kenneth E. Goodman M For Withhold Forest Laboratories, Inc. FRX 345838106 2003-08-11 1.7 Elect Director Phillip M. Satow M For Withhold Forest Laboratories, Inc. FRX 345838106 2003-08-11 2 Increase Authorized Common Stock M For For Forest Laboratories, Inc. FRX 345838106 2003-08-11 3 Ratify Auditors M For For BMC Software, Inc. BMC 055921100 2003-08-21 1.1 Elect Director B. Garland Cupp M For For BMC Software, Inc. BMC 055921100 2003-08-21 1.2 Elect Director Robert E. Beauchamp M For For BMC Software, Inc. BMC 055921100 2003-08-21 1.3 Elect Director Jon E. Barfield M For For BMC Software, Inc. BMC 055921100 2003-08-21 1.4 Elect Director John W. Barter M For For BMC Software, Inc. BMC 055921100 2003-08-21 1.5 Elect Director Meldon K. Gafner M For For BMC Software, Inc. BMC 055921100 2003-08-21 1.6 Elect Director L.W. Gray M For For BMC Software, Inc. BMC 055921100 2003-08-21 1.7 Elect Director Kathleen A. O'Neil M For For BMC Software, Inc. BMC 055921100 2003-08-21 1.8 Elect Director George F. Raymond M For For BMC Software, Inc. BMC 055921100 2003-08-21 1.9 Elect Director Tom C. Tinsley M For For BMC Software, Inc. BMC 055921100 2003-08-21 2 Ratify Auditors M For For Computer Associates CA 204912109 2003-08-27 1.1 Elect Director Russell M. Artzt M For For International, Inc. Computer Associates CA 204912109 2003-08-27 1.2 Elect Director Kenneth Cron M For For International, Inc. Computer Associates CA 204912109 2003-08-27 1.3 Elect Director Alfonse M. D'Amato M For For International, Inc. Computer Associates CA 204912109 2003-08-27 1.4 Elect Director Gary J. Fernandes M For For International, Inc. Computer Associates CA 204912109 2003-08-27 1.5 Elect Director Sanjay Kumar M For For International, Inc. Computer Associates CA 204912109 2003-08-27 1.6 Elect Director Robert E. La Blanc M For For International, Inc. Computer Associates CA 204912109 2003-08-27 1.7 Elect Director Jay W. Lorsch M For For International, Inc. Computer Associates CA 204912109 2003-08-27 1.8 Elect Director Lewis S. Ranieri M For For International, Inc. Computer Associates CA 204912109 2003-08-27 1.9 Elect Director Walter P. Schuetze M For For International, Inc. Computer Associates CA 204912109 2003-08-27 1.10 Elect Director Alex Serge Vieux M For For International, Inc. Computer Associates CA 204912109 2003-08-27 2 Approve Non-Employee Director M For For International, Inc. Omnibus Stock Plan Computer Associates CA 204912109 2003-08-27 3 Ratify Auditors M For For International, Inc. Medtronic, Inc. MDT 585055106 2003-08-28 1.1 Elect Director Richard H. Anderson M For Withhold Medtronic, Inc. MDT 585055106 2003-08-28 1.2 Elect Director Michael R. M For Withhold Bonsignore Medtronic, Inc. MDT 585055106 2003-08-28 1.3 Elect Director Gordon M. Sprenger M For Withhold Medtronic, Inc. MDT 585055106 2003-08-28 2 Ratify Auditors M For For Medtronic, Inc. MDT 585055106 2003-08-28 3 Approve Omnibus Stock Plan M For For Medtronic, Inc. MDT 585055106 2003-08-28 4 Approve Executive Incentive M For For Bonus Plan General Mills, Inc. GIS 370334104 2003-09-22 1.1 Elect Director Stephen R. Demeritt M For For General Mills, Inc. GIS 370334104 2003-09-22 1.2 Elect Director Livio D. DeSimone M For For General Mills, Inc. GIS 370334104 2003-09-22 1.3 Elect Director William T. Esrey M For For General Mills, Inc. GIS 370334104 2003-09-22 1.4 Elect Director Raymond V. M For For Gilmartin General Mills, Inc. GIS 370334104 2003-09-22 1.5 Elect Director Judith Richards M For For Hope General Mills, Inc. GIS 370334104 2003-09-22 1.6 Elect Director Robert L. Johnson M For For General Mills, Inc. GIS 370334104 2003-09-22 1.7 Elect Director John M. Keenan M For For General Mills, Inc. GIS 370334104 2003-09-22 1.8 Elect Director Heidi G. Miller M For For General Mills, Inc. GIS 370334104 2003-09-22 1.9 Elect Director Hilda M For For Ochoa-Brillembourg Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 1, 2003 - December 31, 2004 PF PUTNAM RESEARCH FUND Management Ballot Item or Mgmt Vote Company Ticker Security Mtg Date Issues Description Shareholder Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ General Mills, Inc. GIS 370334104 2003-09-22 1.10 Elect Director Stephen W. Sanger M For For General Mills, Inc. GIS 370334104 2003-09-22 1.11 Elect Director A. Michael Spence M For For General Mills, Inc. GIS 370334104 2003-09-22 1.12 Elect Director Dorothy A. Terrell M For For General Mills, Inc. GIS 370334104 2003-09-22 1.13 Elect Director Raymond G. Viault M For For General Mills, Inc. GIS 370334104 2003-09-22 1.14 Elect Director Paul S. Walsh M For For General Mills, Inc. GIS 370334104 2003-09-22 2 Ratify Auditors M For For General Mills, Inc. GIS 370334104 2003-09-22 3 Approve Omnibus Stock Plan M For Against Darden Restaurants, Inc. DRI 237194105 2003-09-25 1.1 Elect Director Leonard L. Berry M For For Darden Restaurants, Inc. DRI 237194105 2003-09-25 1.2 Elect Director Odie C. Donald M For For Darden Restaurants, Inc. DRI 237194105 2003-09-25 1.3 Elect Director David H. Hughes M For For Darden Restaurants, Inc. DRI 237194105 2003-09-25 1.4 Elect Director Joe R. Lee M For For Darden Restaurants, Inc. DRI 237194105 2003-09-25 1.5 Elect Director Senator Connie M For For Mack, III Darden Restaurants, Inc. DRI 237194105 2003-09-25 1.6 Elect Director Richard E. Rivera M For For Darden Restaurants, Inc. DRI 237194105 2003-09-25 1.7 Elect Director Michael D. Rose M For For Darden Restaurants, Inc. DRI 237194105 2003-09-25 1.8 Elect Director Maria A. Sastre M For For Darden Restaurants, Inc. DRI 237194105 2003-09-25 1.9 Elect Director Jack A. Smith M For For Darden Restaurants, Inc. DRI 237194105 2003-09-25 1.10 Elect Director Blaine Sweatt, III M For For Darden Restaurants, Inc. DRI 237194105 2003-09-25 1.11 Elect Director Rita P. Wilson M For For Darden Restaurants, Inc. DRI 237194105 2003-09-25 2 Ratify Auditors M For For Flextronics International FLEX Y2573F102 2003-09-30 1 Reelect Richard Sharp as Director M For Against Flextronics International FLEX Y2573F102 2003-09-30 2a Reelect James Davidson as Director M For Against Flextronics International FLEX Y2573F102 2003-09-30 2b Reelect Lip-Bu Tan as Director M For Against Flextronics International FLEX Y2573F102 2003-09-30 3 Reelect Patrick Foley as Director M For Against Flextronics International FLEX Y2573F102 2003-09-30 4 Reappoint Deloitte & Touche as M For For Ltd. Auditors and Authorize Board to Fix Their Remuneration Flextronics International FLEX Y2573F102 2003-09-30 5 Amend 1997 Employee Share M For For Ltd. Purchase Plan Flextronics International FLEX Y2573F102 2003-09-30 6 Approve Issuance of Shares M For For Ltd. without Preemptive Rights Flextronics International FLEX Y2573F102 2003-09-30 7 Approve Nonexecutive Directors' M For For Ltd. Fees Flextronics International FLEX Y2573F102 2003-09-30 8 Authorize Share Repurchase Program M For For Ltd. Paychex, Inc. PAYX 704326107 2003-10-02 1.1 Elect Director B. Thomas Golisano M For Withhold Paychex, Inc. PAYX 704326107 2003-10-02 1.2 Elect Director Betsy S. Atkins M For Withhold Paychex, Inc. PAYX 704326107 2003-10-02 1.3 Elect Director G. Thomas Clark M For Withhold Paychex, Inc. PAYX 704326107 2003-10-02 1.4 Elect Director David J. S. M For Withhold Flaschen Paychex, Inc. PAYX 704326107 2003-10-02 1.5 Elect Director Phillip Horsley M For Withhold Paychex, Inc. PAYX 704326107 2003-10-02 1.6 Elect Director Grant M. Inman M For Withhold Paychex, Inc. PAYX 704326107 2003-10-02 1.7 Elect Director J. Robert Sebo M For Withhold Paychex, Inc. PAYX 704326107 2003-10-02 1.8 Elect Director Joseph M. Tucci M For Withhold Oracle Corp. ORCL 68389X105 2003-10-13 1.1 Elect Director Lawrence J. Ellison M For For Oracle Corp. ORCL 68389X105 2003-10-13 1.2 Elect Director Donald L. Lucas M For For Oracle Corp. ORCL 68389X105 2003-10-13 1.3 Elect Director Michael J. Boskin M For For Oracle Corp. ORCL 68389X105 2003-10-13 1.4 Elect Director Jeffrey O. Henley M For For Oracle Corp. ORCL 68389X105 2003-10-13 1.5 Elect Director Jack F. Kemp M For For Oracle Corp. ORCL 68389X105 2003-10-13 1.6 Elect Director Jeffrey Berg M For For Oracle Corp. ORCL 68389X105 2003-10-13 1.7 Elect Director Safra Catz M For For Oracle Corp. ORCL 68389X105 2003-10-13 1.8 Elect Director Hector M For For Garcia-Molina Oracle Corp. ORCL 68389X105 2003-10-13 1.9 Elect Director Joseph A. Grundfest M For For Oracle Corp. ORCL 68389X105 2003-10-13 1.10 Elect Director H. Raymond Bingham M For For Oracle Corp. ORCL 68389X105 2003-10-13 2 Approve Executive Incentive M For For Bonus Plan Oracle Corp. ORCL 68389X105 2003-10-13 3 Ratify Auditors M For For Oracle Corp. ORCL 68389X105 2003-10-13 4 Amend Non-Employee Director M For For Omnibus Stock Plan Oracle Corp. ORCL 68389X105 2003-10-13 5 Implement China Principles S Against Against Cintas Corp. CTAS 172908105 2003-10-14 1 Fix Number of Directors M For For Cintas Corp. CTAS 172908105 2003-10-14 2.1 Elect Director Richard T. Farmer M For Withhold Cintas Corp. CTAS 172908105 2003-10-14 2.2 Elect Director Robert J. Kohlhepp M For Withhold Cintas Corp. CTAS 172908105 2003-10-14 2.3 Elect Director Scott D. Farmer M For Withhold Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 1, 2003 - December 31, 2004 PF PUTNAM RESEARCH FUND Management Ballot Item or Mgmt Vote Company Ticker Security Mtg Date Issues Description Shareholder Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Cintas Corp. CTAS 172908105 2003-10-14 2.4 Elect Director Paul R. Carter M For Withhold Cintas Corp. CTAS 172908105 2003-10-14 2.5 Elect Director Gerald V. Dirvin M For Withhold Cintas Corp. CTAS 172908105 2003-10-14 2.6 Elect Director Robert J. Herbold M For Withhold Cintas Corp. CTAS 172908105 2003-10-14 2.7 Elect Director Roger L. Howe M For Withhold Cintas Corp. CTAS 172908105 2003-10-14 2.8 Elect Director David C. Phillips M For Withhold Cintas Corp. CTAS 172908105 2003-10-14 3 Approve Non-Employee Director M For For Stock Option Plan Cintas Corp. CTAS 172908105 2003-10-14 4 Expense Stock Options S Against Against Cintas Corp. CTAS 172908105 2003-10-14 5 Establish a Nominating Committee S Against For of Independent Directors Cintas Corp. CTAS 172908105 2003-10-14 6 Require Majority of Independent S Against For Directors on Board Cintas Corp. CTAS 172908105 2003-10-14 7 Report on Code of Conduct S Against Against Cardinal Health, Inc. CAH 14149Y108 2003-11-05 1.1 Elect Director Dave Bing M For For Cardinal Health, Inc. CAH 14149Y108 2003-11-05 1.2 Elect Director John F. Finn M For For Cardinal Health, Inc. CAH 14149Y108 2003-11-05 1.3 Elect Director John F. Havens M For For Cardinal Health, Inc. CAH 14149Y108 2003-11-05 1.4 Elect Director David W. Raisbeck M For For Cardinal Health, Inc. CAH 14149Y108 2003-11-05 1.5 Elect Director Robert D. Walter M For For Microsoft Corp. MSFT 594918104 2003-11-11 1.1 Elect Director William H. M For Withhold Gates, III Microsoft Corp. MSFT 594918104 2003-11-11 1.2 Elect Director Steven A. Ballmer M For Withhold Microsoft Corp. MSFT 594918104 2003-11-11 1.3 Elect Director James I. M For Withhold Cash, Jr., Ph.D. Microsoft Corp. MSFT 594918104 2003-11-11 1.4 Elect Director Raymond V. M For Withhold Gilmartin Microsoft Corp. MSFT 594918104 2003-11-11 1.5 Elect Director Ann McLaughlin M For Withhold Korologos Microsoft Corp. MSFT 594918104 2003-11-11 1.6 Elect Director David F. Marquardt M For Withhold Microsoft Corp. MSFT 594918104 2003-11-11 1.7 Elect Director Charles H. Noski M For Withhold Microsoft Corp. MSFT 594918104 2003-11-11 1.8 Elect Director Dr. Helmut Panke M For Withhold Microsoft Corp. MSFT 594918104 2003-11-11 1.9 Elect Director Wm. G. Reed, Jr. M For Withhold Microsoft Corp. MSFT 594918104 2003-11-11 1.10 Elect Director Jon A. Shirley M For Withhold Microsoft Corp. MSFT 594918104 2003-11-11 2 Amend Omnibus Stock Plan M For Against Microsoft Corp. MSFT 594918104 2003-11-11 3 Amend Non-Employee Director M For For Stock Option Plan Microsoft Corp. MSFT 594918104 2003-11-11 4 Refrain from Giving Charitable S Against Against Contributions Automatic Data ADP 053015103 2003-11-11 1.1 Elect Director Gregory D. M For For Processing, Inc. Brenneman Automatic Data ADP 053015103 2003-11-11 1.2 Elect Director Leslie A. Brun M For For Processing, Inc. Automatic Data ADP 053015103 2003-11-11 1.3 Elect Director Gary C. Butler M For For Processing, Inc. Automatic Data ADP 053015103 2003-11-11 1.4 Elect Director Joseph A. M For For Processing, Inc. Califano, Jr. Automatic Data ADP 053015103 2003-11-11 1.5 Elect Director Leon G. Cooperman M For For Processing, Inc. Automatic Data ADP 053015103 2003-11-11 1.6 Elect Director Ann Dibble Jordan M For For Processing, Inc. Automatic Data ADP 053015103 2003-11-11 1.7 Elect Director Harvey M. Krueger M For Withhold Processing, Inc. Automatic Data ADP 053015103 2003-11-11 1.8 Elect Director Frederic V. Malek M For For Processing, Inc. Automatic Data ADP 053015103 2003-11-11 1.9 Elect Director Henry Taub M For For Processing, Inc. Automatic Data ADP 053015103 2003-11-11 1.10 Elect Director Arthur F. Weinbach M For For Processing, Inc. Automatic Data ADP 053015103 2003-11-11 1.11 Elect Director Josh S. Weston M For For Processing, Inc. Automatic Data ADP 053015103 2003-11-11 2 Amend Stock Option Plan M For Against Processing, Inc. Automatic Data ADP 053015103 2003-11-11 3 Amend Employee Stock Purchase Plan M For For Processing, Inc. Automatic Data ADP 053015103 2003-11-11 4 Approve Outside Director Stock M For For Processing, Inc. Awards in Lieu of Cash Automatic Data ADP 053015103 2003-11-11 5 Ratify Auditors M For For Processing, Inc. Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 1, 2003 - December 31, 2004 PF PUTNAM RESEARCH FUND Management Ballot Item or Mgmt Vote Company Ticker Security Mtg Date Issues Description Shareholder Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ BIOGEN IDEC INC BIIB 449370105 2003-11-12 1 Approve Merger Agreement M For For BIOGEN IDEC INC BIIB 449370105 2003-11-12 2 Increase Authorized Common Stock M For For BIOGEN IDEC INC BIIB 449370105 2003-11-12 3 Approve Omnibus Stock Plan M For For BIOGEN IDEC INC BIIB 449370105 2003-11-12 4 Approve Executive Incentive M For For Bonus Plan BIOGEN IDEC INC BIIB 449370105 2003-11-12 5 Adjourn Meeting M For For BHP Billiton Limited BHP Q1498M100 2003-11-13 1 Accept Financial Statements for M For For (Formerly BHP Ltd.) BHP Billiton Ltd and Statutory Reports for the Year Ended June 30, 2003 BHP Billiton Limited BHP Q1498M100 2003-11-13 2 Accept Financial Statements and M For For (Formerly BHP Ltd.) Statutory Reports for BHP Billiton Plc for the Year Ended June 30, 2003 BHP Billiton Limited BHP Q1498M100 2003-11-13 3 Elect D C Brink as Director of M For Against (Formerly BHP Ltd.) BHP Billiton Ltd BHP Billiton Limited BHP Q1498M100 2003-11-13 4 Elect D C Brink as Director of M For Against (Formerly BHP Ltd.) BHP Billiton Plc BHP Billiton Limited BHP Q1498M100 2003-11-13 5 Elect M A Chaney as Director of M For Against (Formerly BHP Ltd.) BHP Billiton Ltd BHP Billiton Limited BHP Q1498M100 2003-11-13 6 Elect M A Chaney as Director of M For Against (Formerly BHP Ltd.) BHP Billiton Plc BHP Billiton Limited BHP Q1498M100 2003-11-13 7 Elect Lord Renwick of Clifton as M For Against (Formerly BHP Ltd.) Director of BHP Billiton Ltd BHP Billiton Limited BHP Q1498M100 2003-11-13 8 Elect Lord Renwick of Clifton as M For Against (Formerly BHP Ltd.) Director of BHP Billitoon Plc as Director BHP Billiton Limited BHP Q1498M100 2003-11-13 9 Elect M Salamon as Director of M For Against (Formerly BHP Ltd.) BHP Billiton Ltd BHP Billiton Limited BHP Q1498M100 2003-11-13 10 Elect M Salamon as Director of M For Against (Formerly BHP Ltd.) BHP Billiton Plc BHP Billiton Limited BHP Q1498M100 2003-11-13 11 Elect J G Buchanan as Director of M For Against (Formerly BHP Ltd.) BHP Billiton Ltd BHP Billiton Limited BHP Q1498M100 2003-11-13 12 Elect J G Buchanan as Director of M For Against (Formerly BHP Ltd.) BHP Billiton Plc BHP Billiton Limited BHP Q1498M100 2003-11-13 13 Approve KPMG Audit Plc and M For For (Formerly BHP Ltd.) PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Their Remuneration BHP Billiton Limited BHP Q1498M100 2003-11-13 14 Approve Authority to Allot Shares M For For (Formerly BHP Ltd.) in BHP Billiton Plc BHP Billiton Limited BHP Q1498M100 2003-11-13 15 Approve Renewal of Authority to M For For (Formerly BHP Ltd.) Allot Equity Securities for Cash BHP Billiton Limited BHP Q1498M100 2003-11-13 16 Authorize Share Repurchase Program M For For (Formerly BHP Ltd.) BHP Billiton Limited BHP Q1498M100 2003-11-13 17 Approve Remuneration Report for M For For (Formerly BHP Ltd.) the Year Ended June 30, 2003 BHP Billiton Limited BHP Q1498M100 2003-11-13 18 Approve the Grant of Deferred M For For (Formerly BHP Ltd.) Shares, Options and Performance Shares to Executive Director and Chief Executive Officer, C W Goodyear Under the BHP Billiton Limited Group Incentive Scheme BHP Billiton Limited BHP Q1498M100 2003-11-13 19 Approve the Grant of Deferred M For For (Formerly BHP Ltd.) Shares, Options and Performance Shares to Executive Director and Senior Minerals Executive, M Salamon Under the BHP Billiton Plc Group Incentive Scheme AutoZone, Inc. AZO 053332102 2003-12-11 1.1 Elect Director Charles M. Elson M For For AutoZone, Inc. AZO 053332102 2003-12-11 1.2 Elect Director Marsha J. Evans M For For AutoZone, Inc. AZO 053332102 2003-12-11 1.3 Elect Director Earl G. Graves, Jr. M For For AutoZone, Inc. AZO 053332102 2003-12-11 1.4 Elect Director N. Gerry House M For For AutoZone, Inc. AZO 053332102 2003-12-11 1.5 Elect Director J.R. Hyde, III M For For AutoZone, Inc. AZO 053332102 2003-12-11 1.6 Elect Director Edward S. Lampert M For For AutoZone, Inc. AZO 053332102 2003-12-11 1.7 Elect Director W. Andrew McKenna M For For AutoZone, Inc. AZO 053332102 2003-12-11 1.8 Elect Director Steve Odland M For For AutoZone, Inc. AZO 053332102 2003-12-11 1.9 Elect Director James J. Postl M For For AutoZone, Inc. AZO 053332102 2003-12-11 2 Ratify Auditors M For For Apache Corp. APA 037411105 2003-12-18 1 Increase Authorized Common Stock M For For Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 1, 2003 - December 31, 2004 PF PUTNAM RESEARCH FUND Management Ballot Item or Mgmt Vote Company Ticker Security Mtg Date Issues Description Shareholder Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Costco Wholesale COST 22160K105 2004-01-29 1.1 Elect Director Benjamin S. Carson, M For Withhold Corporation Sr., M.D. as Class II Director Costco Wholesale COST 22160K105 2004-01-29 1.2 Elect Director Hamilton E. James M For Withhold Corporation as Class II Director Costco Wholesale COST 22160K105 2004-01-29 1.3 Elect Director Jill S. Ruckelshaus M For Withhold Corporation as Class II Director Costco Wholesale COST 22160K105 2004-01-29 1.4 Elect Director William H. Gates, M For Withhold Corporation II as Class II Director Costco Wholesale COST 22160K105 2004-01-29 1.5 Elect Director Daniel J. Evans as M For Withhold Corporation Class I Director Costco Wholesale COST 22160K105 2004-01-29 2 Declassify the Board of Directors S Against For Corporation Costco Wholesale COST 22160K105 2004-01-29 3 Develop Land Procurement Policy S Against Against Corporation Costco Wholesale COST 22160K105 2004-01-29 4 Ratify Auditors M For For D.R. Horton, Inc. DHI 23331A109 2004-01-29 1.1 Elect Director Donald R. Horton M For For D.R. Horton, Inc. DHI 23331A109 2004-01-29 1.2 Elect Director Bradley S. Anderson M For For D.R. Horton, Inc. DHI 23331A109 2004-01-29 1.3 Elect Director Michael R. Buchanan M For For D.R. Horton, Inc. DHI 23331A109 2004-01-29 1.4 Elect Director Richard I. Galland M For For D.R. Horton, Inc. DHI 23331A109 2004-01-29 1.5 Elect Director Francine I. Neff M For For D.R. Horton, Inc. DHI 23331A109 2004-01-29 1.6 Elect Director Donald J. Tomnitz M For For D.R. Horton, Inc. DHI 23331A109 2004-01-29 1.7 Elect Director Bill W. Wheat M For For D.R. Horton, Inc. DHI 23331A109 2004-01-29 2 Amend Executive Incentive M For For Bonus Plan D.R. Horton, Inc. DHI 23331A109 2004-01-29 3 Other Business M For Against ACCENTURE LTD BERMUDA ACN G1150G111 2004-02-05 1 Appoint Dennis F. Hightower, M For For William L. Kimsey, Robert I. Lipp, and Wulf von Schimmelmann as Directors ACCENTURE LTD BERMUDA ACN G1150G111 2004-02-05 2 Approve KPMG LLP as Independent M For For Auditors and Authorize Board to Fix Their Remuneration ACCENTURE LTD BERMUDA ACN G1150G111 2004-02-05 3 Transact Other Business M None None (Non-Voting) Mgmt Rec - Company Management Recommended Vote VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 04/30/04 - A ALCOA INC. *AA* 013817101 02/02/04 11,600 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Report on Pay Disparity Against Against ShrHoldr 4 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 04/29/04 - A ALTRIA GROUP, INC. *MO* 02209S103 03/08/04 11,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Product Warnings for Pregnant Against Against ShrHoldr Women 4 Report on Health Risks Associated with Against Against ShrHoldr Cigarette Filters 5 Political Contributions/Activities Against Against ShrHoldr 6 Cease Use of Light and Ultra Light in Against Against ShrHoldr Cigarette Marketing 7 Place Canadian Style Warnings on Cigarette Against Against ShrHoldr Packaging 8 Separate Chairman and CEO Positions Against Against ShrHoldr 04/27/04 - A AMEREN CORPORATION *AEE* 023608102 03/11/04 2,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Risks of Nuclear Waste Storage Against Against ShrHoldr 04/26/04 - A AMERICAN EXPRESS CO. *AXP* 025816109 02/27/04 5,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Establish Term Limits for Directors Against Against ShrHoldr 4 Report on Political Contributions/Activities Against Against ShrHoldr 05/19/04 - A AMERICAN INTERNATIONAL GROUP, INC. 026874107 03/26/04 7,200 *AIG* 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Approve Non-Employee Director Stock Option For For Mgmt Plan 4 Ratify Auditors For For Mgmt 5 Report on Political Contributions/Activities Against Against ShrHoldr 6 Divest from Tobacco Equities Against Against ShrHoldr 7 Link Executive Compensation to Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 1 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ Predatory Lending 05/19/04 - A AT&T CORP. *T* 001957505 03/25/04 11,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Establish Term Limits for Directors Against Against ShrHoldr 5 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 6 Separate Chairman and CEO Positions Against For ShrHoldr 7 Report on Executive Compensation Against Against ShrHoldr 05/19/04 - A AT&T WIRELESS SERVICES, INC. *AWE* 00209A106 03/22/04 29,100 1 Approve Merger Agreement For For Mgmt 2 Elect Directors For For Mgmt 3 Ratify Auditors For For Mgmt 4 Limit Executive Compensation Against Against ShrHoldr 5 Prohibit Awards to Executives Against Against ShrHoldr 6 Require Affirmative Vote of a Majority of Against Against ShrHoldr the Shares to Elect Directors 04/22/04 - A AVERY DENNISON CORP. *AVY* 053611109 02/23/04 4,100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Executive Incentive Bonus Plan For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 03/17/04 - S BANK OF AMERICA CORP. *BAC* 060505104 01/26/04 3,000 1 Approve Merger Agreement For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Adjourn Meeting For For Mgmt 05/26/04 - A BANK OF AMERICA CORP. *BAC* 060505104 04/07/04 8,475 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Change Date of Annual Meeting Against Against ShrHoldr 4 Adopt Nomination Procedures for the Board Against Against ShrHoldr 5 Charitable Contributions Against Against ShrHoldr 6 Establish Independent Committee to Review Against Against ShrHoldr Mutual Fund Policy 7 Adopt Standards Regarding Privacy Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 2 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ and Information Security 04/15/04 - A BP PLC (FORM. BP AMOCO PLC ) 055622104 02/23/04 9,300 MEETING FOR HOLDERS OF ADRS 1 Elect Directors For For Mgmt 2 TO ELECT MR A BURGMANS AS A DIRECTOR For For Mgmt 3 Ratify Auditors For For Mgmt 4 TO AMEND THE ARTICLES OF ASSOCIATION OF THE For For Mgmt COMPANY 5 TO GIVE AUTHORITY TO ALLOT SHARES UP TO A For For Mgmt SPECIFIED AMOUNT 6 SPECIAL RESOLUTION: TO GIVE AUTHORITY TO For For Mgmt ALLOT A LIMITED NUMBER OF SHARES FOR CASH WITHOUT MAKING AN OFFER TO SHAREHOLDERS 7 SPECIAL RESOLUTION: TO GIVE LIMITED For For Mgmt AUTHORITY FOR THE PURCHASE OF ITS OWN SHARES BY THE COMPANY 8 TO AUTHORISE THE USE OF TREASURY SHARES FOR For For Mgmt EMPLOYEE SHARE SCHEMES 9 TO APPROVE THE DIRECTORS REMUNERATION REPORT For For Mgmt 10 TO DETERMINE THE LIMIT FOR THE AGGREGATE For For Mgmt REMUNERATION OF THE NON-EXECUTIVE DIRECTORS 11 TO RECEIVE THE DIRECTORS ANNUAL REPORT AND For For Mgmt THE ACCOUNTS 12 SPECIAL SHAREHOLDER RESOLUTION: TO INSTRUCT Against Against ShrHoldr THE COMPANY TO PREPARE A REPORT MAKING CERTAIN DISCLOSURES ON MATTERS OF CONTROL AND RISK IN PROTECTED AND SENSITIVE AREAS 05/05/04 - A CELESTICA INC. *CLS.* 15101Q108 03/12/04 11,200 MEETING FOR SUBORDINATE VOTING AND MULTIPLE VOTING SHAREHOLDERS 1 Elect Robert Crandall, William Etherington, For For Mgmt Richard Love, Anthony Melman, Gerald Schwartz, Charles Szuluk, Don Tapscott as Directors - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 3 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 2 Approve Auditors and Authorize Board to Fix For For Mgmt Remuneration of Auditors 04/28/04 - A CHEVRONTEXACO CORP. *CVX* 166764100 03/01/04 5,200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Adopt Shareholder Rights Plan (Poison Pill) For For Mgmt Policy 4 Amend Omnibus Stock Plan For For Mgmt 5 Report on Operational Impact of HIV/AIDS, Against Against ShrHoldr TB, and Malaria Pandemic 6 Report on Political Contributions/Activities Against Against ShrHoldr 7 Require Affirmative Vote of a Majority of Against Against ShrHoldr the Shares to Elect Directors 8 Report on Health and Environmental Against Against ShrHoldr Initiatives in Ecuador 9 Report on Renewable Energy Against Against ShrHoldr 05/26/04 - A COMCAST CORP. *CMCSA* 20030N101 03/15/04 6,470 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Restricted Stock Plan For For Mgmt 4 Amend Articles/Bylaws/Charter-Non-Routine For For Mgmt 5 Require Two-Thirds Majority of Independent Against For ShrHoldr Directors on Board 6 Political Contributions/Activities Against Against ShrHoldr 7 Nominate Two Directors for every open Against Against ShrHoldr Directorships 8 Limit Executive Compensation Against Against ShrHoldr 9 Adopt a Recapitalization Plan Against For ShrHoldr 12/16/03 - A COMVERSE TECHNOLOGY, INC. *CMVT* 205862402 10/28/03 12,800 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Ratify Auditors For For Mgmt 06/15/04 - A COMVERSE TECHNOLOGY, INC. *CMVT* 205862402 04/27/04 9,200 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 4 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/11/04 - A ENSCO INTERNATIONAL, INC. *ESV* 26874Q100 03/15/04 11,300 1 Elect Directors For For Mgmt 05/19/04 - A EQUITY OFFICE PROPERTIES TRUST *EOP* 294741103 03/12/04 10,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/28/04 - A EQUITY RESIDENTIAL *EQR* 29476L107 03/29/04 5,500 1 Elect Directors For For Mgmt 2 Amend Articles/Bylaws/Charter to Remove For For Mgmt Antitakeover Provision(s) 3 Ratify Auditors For For Mgmt 05/21/04 - A FEDERATED DEPARTMENT STORES, INC. 31410H101 04/02/04 5,000 *FD* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Declassify the Board of Directors Against For ShrHoldr 05/18/04 - A FIRSTENERGY CORPORATION *FE* 337932107 03/23/04 8,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Reduce Supermajority Vote Requirement For For Mgmt 5 Approve Deferred Compensation Plan For For Mgmt 6 Approve Deferred Compensation Plan For For Mgmt 7 Expense Stock Options Against For ShrHoldr 8 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 9 Report on Political Contributions/Activities Against Against ShrHoldr 10 Submit Severance Agreement Against For ShrHoldr (Change-in-Control) to Shareholder Vote 03/17/04 - S FLEETBOSTON FINANCIAL CORP. 339030108 01/26/04 8,800 1 Approve Merger Agreement For For Mgmt 2 Adjourn Meeting For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 5 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/17/04 - A GLAXOSMITHKLINE PLC (FORMERLY GLAXO 37733W105 03/19/04 8,000 WELLCOME PLC ) MEETING FOR HOLDERS OF ADRS 1 TO RECEIVE AND ADOPT THE DIRECTORS REPORT For For Mgmt AND THE FINANCIAL STATEMENTS (ORDINARY RESOLUTION) 2 TO APPROVE THE REMUNERATION REPORT For For Mgmt (ORDINARY RESOLUTION) 3 TO ELECT MR H LAWRENCE CULP AS A DIRECTOR For For Mgmt (ORDINARY RESOLUTION) 4 TO ELECT MR CRISPIN DAVIS AS A DIRECTOR For For Mgmt (ORDINARY RESOLUTION) 5 TO ELECT SIR ROBERT WILSON AS A DIRECTOR For For Mgmt (ORDINARY RESOLUTION) 6 TO ELECT DR TACHI YAMADA AS A DIRECTOR For For Mgmt (ORDINARY RESOLUTION) 7 TO RE-ELECT SIR CHRISTOPHER HOGG AS A For For Mgmt DIRECTOR (ORDINARY RESOLUTION) 8 Ratify Auditors For For Mgmt 9 REMUNERATION OF AUDITORS (ORDINARY For For Mgmt RESOLUTION) 10 AUTHORISE THE COMPANY TO MAKE DONATIONS TO For For Mgmt EU POLITICAL ORGAN- ISATIONS AND INCUR EU POLITICAL EXPENDITURE (SPECIAL BUSINESS) 11 DISAPPLICATION OF PRE-EMPTION RIGHTS For For Mgmt (SPECIAL RESOLUTION) 12 AUTHORITY FOR THE COMPANY TO PURCHASE ITS For For Mgmt OWN SHARES (SPECIAL RESOLUTION) 06/09/04 - A GLOBAL SANTA FE CORP.(FORMERLY SANTA G3930E101 04/07/04 6,700 FE INTERNATIONAL CORP) *GSF* MEETING FOR HOLDERS OF ADRS 1 Elect Directors For For Mgmt 2 PROPOSAL TO APPROVE A SPECIAL RESOLUTION TO For For Mgmt AMEND THE COMPANY S AMENDED AND RESTATED ARTICLES OF ASSOCIATION TO PERMIT TELEPHONIC AND INTERNET - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 6 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ VOTING BY RECORD SHAREHOLDERS. 3 PROPOSAL TO APPROVE A SPECIAL RESOLUTION TO For For Mgmt AMEND THE COMPANY S AMENDED AND RESTATED ARTICLES OF ASSOCIATION TO REMOVE THE LANGUAGE NO SHARE OWNERSHIP QUALIFICATION FOR DIRECTORS SHALL BE REQUIRED. 4 PROPOSAL TO RATIFY THE APPOINTMENT OF For For Mgmt PRICEWATERHOUSECOOPERS LLP AS THE INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS OF THE COMPANY AND ITS SUBSIDIARIES FOR THE YEAR ENDING DECEMBER 31, 2004. 05/27/04 - A HCA, INC. *HCA* 404119109 04/01/04 8,300 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Management Stock Purchase Plan For For Mgmt 03/17/04 - A HEWLETT-PACKARD CO. *HPQ* 428236103 01/20/04 20,000 1 Elect Directors For Split Mgmt 1.1 Elect Director L.T. Babbio, Jr. --- For 1.2 Elect Director P.C. Dunn --- For 1.3 Elect Director C.S. Fiorina --- For 1.4 Elect Director R.A. Hackborn --- For 1.5 Elect Director G.A. Keyworth II --- For 1.6 Elect Director R.E. Knowling, Jr. --- For 1.7 Elect Director S.M. Litvack --- Withhold 1.8 Elect Director R.L. Ryan --- For 1.9 Elect Director L.S. Salhany --- For 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Expense Stock Options Against For ShrHoldr 05/27/04 - A HOME DEPOT, INC. (THE) *HD* 437076102 03/29/04 7,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Establish Term Limits for Directors Against Against ShrHoldr 4 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 5 Performance- Based/Indexed Options Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 7 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 6 Adopt ILO Based Code of Conduct Against Against ShrHoldr 7 Submit Severance Agreement Against For ShrHoldr (Change-in-Control) to Shareholder Vote 8 Require Affirmative Vote of the Majority of Against Against ShrHoldr the Shares to Elect Directors 04/26/04 - A HONEYWELL INTERNATIONAL, INC. *HON* 438516106 02/27/04 11,800 1 Elect Directors For Split Mgmt 1.1 Elect Director James J. Howard --- Withhold 1.2 Elect Director Bruce Karatz --- Withhold 1.3 Elect Director Russell E. Palmer --- Withhold 1.4 Elect Director Ivan G. Seidenberg --- Withhold 1.5 Elect Director Eric K. Shinseki --- For 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors Against For ShrHoldr 4 Amend Vote Requirements to Amend Against For ShrHoldr Articles/Bylaws/Charter 5 Submit Severance Agreement Against For ShrHoldr (Change-in-Control) to Shareholder Vote 6 Report on Pay Disparity Against Against ShrHoldr 7 Provide for Cumulative Voting Against For ShrHoldr 04/27/04 - A INTERNATIONAL BUSINESS MACHINES CORP. 459200101 02/27/04 2,400 *IBM* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Ratify Auditors for the Company's Business For For Mgmt Consulting Services Unit 4 Approve Executive Incentive Bonus Plan For For Mgmt 5 Provide for Cumulative Voting Against For ShrHoldr 6 Amend Pension and Retirement Medical Against Against ShrHoldr Insurance Plans 7 Submit Executive Compensation to Vote Against For ShrHoldr 8 Expense Stock Options Against For ShrHoldr 9 Limit Awards to Executives Against Against ShrHoldr 10 China Principles Against Against ShrHoldr 11 Report on Political Contributions/Activities Against Against ShrHoldr 12 Report on Executive Compensation Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 8 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/11/04 - A INTERNATIONAL PAPER CO. *IP* 460146103 03/17/04 8,400 1 Elect Directors For Split Mgmt 1.1 Elect Director Martha F. Brooks --- For 1.2 Elect Director James A. Henderson --- For 1.3 Elect Director Robert D. Kennedy --- For 1.4 Elect Director W. Craig McClelland --- Withhold 1.5 Elect Director Robert M. Amen --- For 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Amend Omnibus Stock Plan For For Mgmt 5 Limit Executive Compensation Against Against ShrHoldr 04/22/04 - A JOHNSON & JOHNSON *JNJ* 478160104 02/24/04 5,200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Cease Charitable Contributions Against Against ShrHoldr 05/25/04 - A JP MORGAN CHASE & CO. *JPM* 46625H100 04/02/04 7,600 1 Approve Merger Agreement For For Mgmt 2 Elect Directors For For Mgmt 3 Ratify Auditors For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 5 Adjourn Meeting For For Mgmt 6 Establish Term Limits for Directors Against Against ShrHoldr 7 Charitable Contributions Against Against ShrHoldr 8 Political Contributions Against Against ShrHoldr 9 Separate Chairman and CEO Positions Against For ShrHoldr 10 Provide Adequate Disclosure for over the Against Against ShrHoldr counter Derivatives 11 Auditor Independence Against Against ShrHoldr 12 Submit Non-Employee Director Compensation Against Against ShrHoldr to Vote 13 Report on Pay Disparity Against Against ShrHoldr 04/29/04 - A KIMBERLY-CLARK CORP. *KMB* 494368103 03/01/04 6,600 1 Elect Directors For For Mgmt 1.1 Elect Director Pastora San Juan Cafferty --- For 1.2 Elect Director Claudio X. Gonzalez --- For 1.3 Elect Director Linda Johnson Rice --- For 1.4 Elect Director Marc J. Shapiro --- For 2 Amend Omnibus Stock Plan For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 9 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 3 Ratify Auditors For For Mgmt 4 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote CITIGROUP SUPPORTS PROPOSALS THAT ASK A COMPANY TO SUBMIT ITS POISON PILL FOR SHAREHOLDER RATIFICATION. 04/27/04 - A KRAFT FOODS INC *KFT* 50075N104 03/03/04 9,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 06/09/04 - A LIBERTY MEDIA CORP. *L* 530718105 04/21/04 33,500 1 Elect Directors For For Mgmt 2 Amend Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 04/22/04 - A LOCKHEED MARTIN CORP. *LMT* 539830109 03/01/04 3,500 1 Elect Directors For Split Mgmt 1.1 Elect Director E.C. 'Pete' Aldridge, Jr. --- For 1.2 Elect Director Nolan D. Archibald --- For 1.3 Elect Director Norman R. Augustine --- Withhold 1.4 Elect Director Marcus C. Bennett --- For 1.5 Elect Director Vance D. Coffman --- For 1.6 Elect Director Gwendolyn S. King --- For 1.7 Elect Director Douglas H. McCorkindale --- For 1.8 Elect Director Eugene F. Murphy --- For 1.9 Elect Director Joseph W. Ralston --- Withhold 1.10 Elect Director Frank Savage --- For 1.11 Elect Director Anne Stevens --- For 1.12 Elect Director Robert J. Stevens --- For 1.13 Elect Director James R. Ukropina --- For 1.14 Elect Director Douglas C. Yearley --- For 2 Ratify Auditors For For Mgmt 3 Report on Executive Ties to Government Against Against ShrHoldr 4 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 5 Prohibit Auditor from Providing Non-Audit Against Against ShrHoldr Services - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 10 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 6 Develop Ethical Criteria for Military Against Against ShrHoldr Contracts 05/11/04 - A LOEWS CORP. *LTR* 540424108 03/15/04 6,100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Provide for Cumulative Voting Against For ShrHoldr 4 Support Legislation and Make Public Against Against ShrHoldr Statements on Environmental Tobacco Smoke 5 Cease Charitable Contributions Against Against ShrHoldr 02/18/04 - A LUCENT TECHNOLOGIES INC. *LU* 549463107 12/22/03 81,100 1 Elect Directors For For Mgmt 2 Declassify the Board of Directors and Amend For For Mgmt Director Removal Provision 3 Approve Non-Employee Director Omnibus Stock For For Mgmt Plan 4 Approve Reverse Stock Split For For Mgmt SHAREHOLDER PROPOSALS 5 Submit Severance Agreement Against For ShrHoldr (Change-in-Control) to Shareholder Vote 6 Prohibit Awards to Executives Against Against ShrHoldr 05/03/04 - A MBNA CORP. *KRB* 55262L100 02/13/04 11,400 1 Elect Directors For For Mgmt 1.1 Elect Director James H. Berick --- For 1.2 Elect Director Benjamin R. Civiletti --- For 1.3 Elect Director Bruce L. Hammonds --- For 1.4 Elect Director William L. Jews --- For 1.5 Elect Director Randolph D. Lerner --- For 1.6 Elect Director Stuart L. Markowitz --- For 1.7 Elect Director William B. Milstead --- For 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against For ShrHoldr CITIGROUP SUPPORTS EXPENSING STOCK OPTIONS. 4 Require Majority of Independent Directors Against For ShrHoldr on Board CITIGROUP SUPPORTS MAJORITY INDEPENDENT BOARD. - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 11 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 05/20/04 - A MCDONALD'S CORP. *MCD* 580135101 03/22/04 15,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Approve/Amend Executive Incentive Bonus Plan For For Mgmt 04/27/04 - A MERCK & CO., INC. *MRK* 589331107 02/24/04 6,700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Prohibit Awards to Executives Against Against ShrHoldr 5 Develop Ethical Criteria for Patent Against Against ShrHoldr Extension 6 Link Executive Compensation to Social Issues Against Against ShrHoldr 7 Report on Political Contributions Against Against ShrHoldr 8 Report on Operational Impact of HIV/AIDS, Against Against ShrHoldr TB, and Malaria Pandemic 04/23/04 - A MERRILL LYNCH & CO., INC. *MER* 590188108 02/24/04 6,300 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Restore or Provide for Cumulative Voting Against For ShrHoldr 4 Separate Chairman and CEO Positions Against Against ShrHoldr 04/20/04 - A MORGAN STANLEY *MWD* 617446448 02/20/04 4,800 1 Elect Directors For Split Mgmt 1.1 Elect Director John W. Madigan --- Withhold 1.2 Elect Director Dr. Klaus Zumwinkel --- For 1.3 Elect Director Sir Howard Davies --- For 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors Against For ShrHoldr 4 Submit Severance Agreement Against For ShrHoldr (Change-in-Control) to Shareholder Vote 5 Report on Political Contributions/Activities Against Against ShrHoldr 06/01/04 - A NABORS INDUSTRIES, LTD. *NBR* G6359F103 04/08/04 6,100 MEETING FOR HOLDERS OF ADRS - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 12 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 SHAREHOLDER PROPOSAL TO CHANGE NABORS Against Against Mgmt JURISDICTION OF INCORPORATION FROM BERMUDA TO DELAWARE. 05/12/04 - A NEWELL RUBBERMAID INC. *NWL* 651229106 03/15/04 8,300 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/11/04 - A NISOURCE INC. *NI* 65473P105 03/16/04 12,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 03/25/04 - A NOKIA CORP. 654902204 01/30/04 16,700 MEETING FOR HOLDERS OF ADRS 1 APPROVAL OF THE INCOME STATEMENTS AND THE For For Mgmt BALANCE SHEETS. 2 APPROVAL OF A DIVIDEND OF EUR 0.30 PER For For Mgmt SHARE. 3 APPROVAL OF THE DISCHARGE OF THE CHAIRMAN, For For Mgmt THE MEMBERS OF THE BOARD OF DIRECTORS AND THE PRESIDENT FROM LIABILITY. 4 Elect Directors For For Mgmt 5 Ratify Auditors For For Mgmt 6 APPROVAL OF THE PROPOSAL OF THE BOARD TO For For Mgmt REDUCE THE SHARE CAPITAL THROUGH CANCELLATION OF NOKIA SHARES HELD BY THE COMPANY 7 APPROVAL OF THE AUTHORIZATION TO THE BOARD For For Mgmt TO INCREASE THE SHARE CAPITAL OF THE COMPANY. 8 APPROVAL OF THE AUTHORIZATION TO THE BOARD For For Mgmt TO REPURCHASE NOKIA SHARES. 9 APPROVAL OF THE AUTHORIZATION TO THE BOARD For For Mgmt TO DISPOSE NOKIA SHARES HELD BY THE COMPANY. 10 APPROVAL OF THE PROPOSAL OF THE BOARD TO For For Mgmt INCREASE THE CAPITAL OF THE FOUNDATION OF - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 13 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ NOKIA CORPORATION. 11 MARK THE FOR BOX IF YOU WISH TO INSTRUCT None For Mgmt THE DEPOSITARY TO GIVE A PROXY TO ANY ONE OF MARIANNA UOTINEN-TARKOMA, ESA KAUNISTOLA, BOTH LEGAL COUNSELS OF NOKIA CORPORATION, TO AUTHORIZE ANY OF THEM (WITH FULL POWER OF SUBSTITUTION) TO VOTE, IN THEIR DISCR 04/15/04 - A NOVELL, INC. *NOVL* 670006105 02/20/04 11,600 1 Elect Directors For For Mgmt 2 Expense Stock Options 8 Against For ShrHoldr 3 Performance-Based/Indexed Options Against Against ShrHoldr 4 Prohibit Auditor from Providing Non-Audit Against Against ShrHoldr Services 04/22/04 - A PFIZER INC. *PFE* 717081103 02/27/04 18,900 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Report on Operational Impact of HIV/AIDS, Against Against ShrHoldr TB, and Malaria Pandemic 5 Cease Political Contributions/Activities Against Against ShrHoldr 6 Report on Political Contributions/Activities Against Against ShrHoldr 7 Establish Term Limits for Directors Against Against ShrHoldr 8 Report on Drug Pricing Against Against ShrHoldr 9 Limit Awards to Executives Against Against ShrHoldr 10 Amend Animal Testing Policy Against Against ShrHoldr 05/12/04 - A PROGRESS ENERGY, INC. *PGN* 743263105 03/05/04 5,500 1 Elect Directors For For Mgmt 2 Prohibit Awards to Executives Against Against ShrHoldr 06/28/04 - A ROYAL DUTCH PETROLEUM CO. 780257804 05/20/04 7,400 MEETING FOR HOLDERS OF ADRS 1 FINALIZATION OF THE BALANCE SHEET AS AT For For Mgmt DECEMBER 31, 2003, THE PROFIT AND LOSS ACCOUNT FOR THE YEAR 2003 AND THE NOTES TO THE BALANCE SHEET AND THE PROFIT AND LOSS ACCOUNT. 2 DECLARATION OF THE TOTAL For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 14 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ DIVIDEND FOR THE YEAR 2003. 3 DISCHARGE OF THE MANAGING DIRECTORS OF For Against Mgmt RESPONSIBILITY IN RESPECT OF THEIR MANAGEMENT FOR THE YEAR 2003. 4 DISCHARGE OF THE MEMBERS OF THE SUPERVISORY For Against Mgmt BOARD OF RESPONSIBILITY FOR THEIR SUPERVISION FOR THE YEAR 2003. 5 APPOINTMENT OF MS. L.Z. COOK AS A MANAGING For For Mgmt DIRECTOR OF THE COMPANY.* 6 APPOINTMENT OF MRS. CH. MORIN-POSTEL AS A For For Mgmt MEMBER OF THE SUPERVISORY BOARD.* 7 APPOINTMENT OF MR. M.A. VAN DEN BERGH AS A For For Mgmt MEMBER OF THE SUPERVISORY BOARD OWING TO RETIREMENT BY ROTATION.* 8 REDUCTION OF THE ISSUED SHARE CAPITAL WITH For For Mgmt A VIEW TO CANCELLA- TION OF THE SHARES ACQUIRED BY THE COMPANY IN ITS OWN CAPITAL. 9 AUTHORIZATION OF THE BOARD OF MANAGEMENT, For For Mgmt PURSUANT TO ARTICLE 98, BOOK 2 OF THE NETHERLANDS CIVIL CODE, AS THE COMPETENT BODY TO ACQUIRE SHARES IN THE CAPITAL OF THE COMPANY. 05/20/04 - A SAFEWAY INC. *SWY* 786514208 03/25/04 16,700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Approve Repricing of Options For For Mgmt 5 Amend Bylaws to Require Independent Against Against ShrHoldr Director as Chairman of the Board 6 Provide for Cumulative Voting Against For ShrHoldr 7 Report on Genetically Modified Organisms Against Against ShrHoldr (GMO) 8 Prepare Sustainability Report Against Against ShrHoldr 9 Report on Political Contributions Against Against ShrHoldr 10 Expense Stock Options Against For ShrHoldr 04/30/04 - A SBC COMMUNICATIONS INC. *SBC* 78387G103 03/02/04 15,000 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 15 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 3 Amend Bylaws For For Mgmt 4 Report on Political Contributions/Activities Against Against ShrHoldr 5 Change Size of Board of Directors Against Against ShrHoldr 05/19/04 - A TARGET CORPORATION *TGT* 87612E106 03/22/04 8,100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 04/13/04 - A THE BANK OF NEW YORK CO., INC. *BK* 064057102 02/23/04 9,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Executive Incentive Bonus Plan For For Mgmt 4 Report on Political Contributions Against Against ShrHoldr 5 Limit Executive Compensation Against Against ShrHoldr 6 Limit Composition of Committee to Against Against ShrHoldr Independent Directors 7 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote 05/03/04 - A THE BOEING CO. *BA* 097023105 03/05/04 6,200 1 Elect Directors For For Mgmt 2 Reduce Supermajority Vote Requirement For For Mgmt 3 Ratify Auditors For For Mgmt 4 Develop Ethical Criteria for Military Against Against ShrHoldr Contracts 5 Adopt Amended Workplace Code of Conduct Against Against ShrHoldr 6 Declassify the Board of Directors Against For ShrHoldr 7 Amend Vote Requirements to Amend Against For ShrHoldr Articles/Bylaws/Charter 8 Submit Severance Agreement Against For ShrHoldr (Change-in-Control) to Shareholder Vote 9 Adopt a Policy that will Commit Executive & Against Against ShrHoldr Directors to Hold at least 75% of their Shares 10 Provide Employees Choice of Pension Plans Against Against ShrHoldr at Retirement or Termination 05/13/04 - A THE DOW CHEMICAL COMPANY *DOW* 260543103 03/15/04 3,700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 16 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 3 Declassify the Board of Directors For For Mgmt 4 Report on Social Initiatives in Bhopal Against Against ShrHoldr 03/31/04 - A THE GOLDMAN SACHS GROUP, INC. *GS* 38141G104 02/02/04 2,800 1 Elect Directors For For Mgmt 1.1 Elect Director Lloyd C. Blankfein --- For 1.2 Elect Director Lord Browne Of Madingley --- For 1.3 Elect Director Claes Dahlback --- For 1.4 Elect Director James A. Johnson --- For 1.5 Elect Director Lois D. Juliber --- For 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors Against For ShrHoldr THE ABILITY TO ELECT DIRECTORS IS THE SINGLE MOST IMPORTANT USE OF THE SHAREHOLDER FRANCHISE, AND ALL DIRECTORS SHOULD BE ACCOUNTABLE ON AN ANNUAL BASIS. 05/20/04 - A THE HARTFORD FINANCIAL SERVICES 416515104 03/22/04 3,500 GROUP, INC. *HIG* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Limit Executive Compensation Against Against ShrHoldr 06/24/04 - A THE KROGER CO. *KR* 501044101 04/26/04 25,200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors Against For ShrHoldr 4 Separate Chairman and CEO Positions Against Against ShrHoldr 5 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 03/19/04 - S THE ST. PAUL TRAVELERS COMPANIES, 792860108 02/06/04 5,500 INC. *STA* 1 Issue Shares in Connection with a Merger For For Mgmt Agreement 2 Amend Bylaws For For Mgmt 3 Amend Articles For For Mgmt 4 Reduce Supermajority Vote Requirement For For Mgmt 05/21/04 - A TIME WARNER INC *TWX* 887317105 03/23/04 19,300 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 17 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 3 Adopt China Principles Against Against ShrHoldr 4 Report on Pay Disparity Against Against ShrHoldr 05/14/04 - A TOTAL S.A. (FORMERLY TOTAL FINA ELF 89151E109 03/24/04 4,700 S.A ) MEETING FOR HOLDERS OF ADRS 1 APPROVAL OF CERTAIN REPORTS AND OF THE For For Mgmt PARENT COMPANY S FINANCIAL STATEMENTS 2 APPROVAL OF CONSOLIDATED FINANCIAL For For Mgmt STATEMENTS 3 ALLOCATION OF INCOME, APPROVAL OF THE For For Mgmt DIVIDEND 4 AGREEMENTS MENTIONED IN ARTICLE L. 225-38 For For Mgmt OF THE FRENCH COMMERCIAL CODE 5 AUTHORIZATION TO TRADE THE COMPANY S OWN For For Mgmt SHARES 6 AUTHORIZATION FOR THE BOARD OF DIRECTORS TO For For Mgmt ISSUE DEBT SECURITIES AND/OR PERPETUAL SUBORDINATED NOTES FOR A MAXIMUM NOMINAL AMOUNT OF 10 BILLION EUROS 7 Elect Directors For For Mgmt 8 APPOINTMENT OF DANIEL BOEUF AS A DIRECTOR For For Mgmt REPRESENTING EMPLOYEE SHAREHOLDERS IN APPLICATION OF ARTICLE 11 OF THE ARTICLES OF INCORPORATION 9 APPOINTMENT OF PHILIPPE MARCHANDISE AS A Against Against Mgmt DIRECTOR REPRESENTING EMPLOYEE SHAREHOLDERS IN APPLICATION OF ARTICLE 11 OF THE ARTICLES OF INCORPORATION 10 APPOINTMENT OF CYRIL MOUCHE AS A DIRECTOR Against Against Mgmt REPRESENTING EMPLOYEE SHAREHOLDERS IN APPLICATION OF ARTICLE 11 OF THE ARTICLES OF INCORPORATION 11 APPOINTMENT OF ALAN CRAMER AS A DIRECTOR Against Against Mgmt REPRESENTING EMPLOYEE SHAREHOLDERS IN APPLICATION OF ARTICLE 11 OF THE ARTICLES OF INCORPORATION 12 Ratify Auditors For For Mgmt 13 RENEWAL OF STATUTORY AUDITORS For For Mgmt 14 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 18 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 15 Ratify Auditors For For Mgmt 16 DETERMINATION OF THE TOTAL AMOUNT OF For For Mgmt DIRECTORS COMPENSATION 17 AUTHORIZATION TO AWARD OPTIONS TO SUBSCRIBE For For Mgmt FOR OR PURCHASE STOCK OF THE COMPANY IN FAVOUR OF THE MANAGEMENT AND KEY EMPLOYEES OF THE GROUP 18 AUTHORIZATION FOR ISSUING CONVERTIBLE OR For For Mgmt OTHER EQUITY SECURITIES 19 AUTHORIZATION TO USE THE ABOVE DELEGATION For For Mgmt WITHOUT MAINTENANCE OF PREFERENTIAL SUBSCRIPTION RIGHTS, BUT WITH AN OPTION TO GRANT A PRIORITY PERIOD 20 CAPITAL INCREASE RESERVED FOR EMPLOYEES For For Mgmt 04/20/04 - A U.S. BANCORP *USB* 902973304 02/26/04 11,400 1 Elect Directors For Withhold Mgmt 2 Ratify Auditors For For Mgmt 3 Limit Executive Compensation Against Against ShrHoldr 4 Submit Executive Compensation to Vote Against Against ShrHoldr 5 Amend Vote Requirements to Amend Against For ShrHoldr Articles/Bylaws/Charter 04/14/04 - A UNITED TECHNOLOGIES CORP. *UTX* 913017109 02/17/04 2,500 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Disclosure of Executive Compensation Against Against ShrHoldr 4 Develop Ethical Criteria for Military Against Against ShrHoldr Contracts 5 Performance-Based/Indexed Options Against Against ShrHoldr 6 Separate Chairman and CEO Positions Against Against ShrHoldr 04/20/04 - A WACHOVIA CORP. *WB* 929903102 02/18/04 5,600 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Require Two Candidates for Each Board Seat Against Against ShrHoldr 4 Report on Political Contributions/Activities Against Against ShrHoldr - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 19 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 5 Separate Chairman and CEO Positions Against Against ShrHoldr 04/28/04 - A WADDELL & REED FINANCIAL, INC. *WDR* 930059100 03/03/04 9,600 1 Elect Directors For For Mgmt 04/20/04 - A WASHINGTON MUTUAL, INC *WM* 939322103 02/27/04 5,700 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Limit Executive Compensation Against Against ShrHoldr 05/14/04 - A WASTE MANAGEMENT, INC. *WMI* 94106L109 03/19/04 7,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt 04/27/04 - A WELLS FARGO & COMPANY *WFC* 949746101 03/09/04 4,700 1 Elect Directors For Split Mgmt 1.1 Elect Director J.A. Blanchard III --- For 1.2 Elect Director Susan E. Engel --- For 1.3 Elect Director Enrique Hernandez, Jr. --- For 1.4 Elect Director Robert L. Joss --- For 1.5 Elect Director Reatha Clark King --- For 1.6 Elect Director Richard M. Kovacevich --- For 1.7 Elect Director Richard D. McCormick --- For 1.8 Elect Director Cynthia H. Milligan --- For 1.9 Elect Director Philip J. Quigley --- For 1.10 Elect Director Donald B. Rice --- Withhold 1.11 Elect Director Judith M. Runstad --- Withhold 1.12 Elect Director Stephen W. Sanger --- For 1.13 Elect Director Susan G. Swenson --- For 1.14 Elect Director Michael W. Wright --- Withhold 2 Approve Retirement Plan For Against Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 20 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF SALOMON BROTHERS LARGE-CAP VALUE FUND Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted - ------------------------------------------------------------------------------------------------------------------------------------ 3 Ratify Auditors For For Mgmt 4 Expense Stock Options Against For ShrHoldr 5 Limit Executive Compensation Against Against ShrHoldr 6 Link Executive Compensation to Social Issues Against Against ShrHoldr 7 Report on Political Contributions/Activities Against Against ShrHoldr 04/22/04 - A WYETH *WYE* 983024100 03/12/04 5,800 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Drug Pricing Against Against ShrHoldr 4 Amend Animal Testing Policy Against Against ShrHoldr 04/30/04 - A XL CAPITAL LTD (FORMERLY EXEL LTD. ) G98255105 03/15/04 1,400 *XL* MEETING FOR HOLDERS OF ADRS 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt - -------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 21 VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Schlumberger Ltd. Netherlands Antilles 4/14/2004 Annual 806857108 1.1 Elect Director J. Deutch M For For Schlumberger Ltd. Netherlands Antilles 4/14/2004 Annual 806857108 1.2 Elect Director J.S. Gorelick M For For Schlumberger Ltd. Netherlands Antilles 4/14/2004 Annual 806857108 1.3 Elect Director A. Gould M For For Schlumberger Ltd. Netherlands Antilles 4/14/2004 Annual 806857108 1.4 Elect Director T. Isaac M For For Schlumberger Ltd. Netherlands Antilles 4/14/2004 Annual 806857108 1.5 Elect Director A. Lajous M For For Schlumberger Ltd. Netherlands Antilles 4/14/2004 Annual 806857108 1.6 Elect Director A. Levy-Lang M For For Schlumberger Ltd. Netherlands Antilles 4/14/2004 Annual 806857108 1.7 Elect Director D. Primat M For For Schlumberger Ltd. Netherlands Antilles 4/14/2004 Annual 806857108 1.8 Elect Director T. Sandvold M For For Schlumberger Ltd. Netherlands Antilles 4/14/2004 Annual 806857108 1.9 Elect Director N. Seydoux M For For Schlumberger Ltd. Netherlands Antilles 4/14/2004 Annual 806857108 1.1 Elect Director L.G. Stuntz M For For Schlumberger Ltd. Netherlands Antilles 4/14/2004 Annual 806857108 2 ADOPTION AND APPROVAL OF M For For FINANCIALS AND DIVIDENDS Schlumberger Ltd. Netherlands Antilles 4/14/2004 Annual 806857108 3 APPROVAL OF ADOPTION OF THE 2004 M For For STOCK AND DEFERRAL PLAN FOR NON- EMPLOYEE DIRECTORS Schlumberger Ltd. Netherlands Antilles 4/14/2004 Annual 806857108 4 APPROVAL OF AUDITORS M For For BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 1.1 Elect Director Lord Browne M For For BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 1.2 Elect Director Dr B E Grote M For For BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 1.3 Elect Director Mr H M P Miles M For For BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 1.4 Elect Director Sir Robin Nicholson M For For BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 1.5 Elect Director Mr R L Olver M For For BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 1.6 Elect Director Sir Ian Prosser M For For BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 2 TO ELECT MR A BURGMANS AS A DIRECTOR M For For BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 3 Ratify Auditors M For For BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 4 TO AMEND THE ARTICLES OF ASSOCIATION OF THE COMPANY M For For BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 5 TO GIVE AUTHORITY TO ALLOT M For For SHARES UP TO A SPECIFIED AMOUNT BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 6 SPECIAL RESOLUTION: TO GIVE M For For AUTHORITY TO ALLOT A LIMITED NUMBER OF SHARES FOR CASH WITHOUT MAKING AN OFFER TO SHAREHOLDERS Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 7 SPECIAL RESOLUTION: TO GIVE M For For LIMITED AUTHORITY FOR THE PURCHASE OF ITS OWN SHARES BY THE COMPANY BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 8 TO AUTHORISE THE USE OF TREASURY M For For SHARES FOR EMPLOYEE SHARE SCHEMES BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 9 TO APPROVE THE DIRECTORS M For For REMUNERATION REPORT BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 10 TO DETERMINE THE LIMIT FOR THE M For For AGGREGATE REMUNERATION OF THE NON-EXECUTIVE DIRECTORS BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 11 TO RECEIVE THE DIRECTORS ANNUAL M For For REPORT AND THE ACCOUNTS BP PLC (Form. Bp Amoco Plc) United Kingdom 4/15/2004 Annual 55622104 12 SPECIAL SHAREHOLDER RESOLUTION: S Against Against TO INSTRUCT THE COMPANY TO PREPARE A REPORT MAKING CERTAIN DISCLOSURES ON MATTERS OF CONTROL AND RISK IN PROTECTED AND SENSITIVE AREAS Boise Cascade Corp. USA 4/15/2004 Annual 97383103 1.1 Elect Director Claire S. Farley M For For Boise Cascade Corp. USA 4/15/2004 Annual 97383103 1.2 Elect Director Rakesh Gangwal M For For Boise Cascade Corp. USA 4/15/2004 Annual 97383103 1.3 Elect Director Gary G. Michael M For For Boise Cascade Corp. USA 4/15/2004 Annual 97383103 1.4 Elect Director A. William M For For Reynolds Boise Cascade Corp. USA 4/15/2004 Annual 97383103 2 Ratify Auditors M For For Boise Cascade Corp. USA 4/15/2004 Annual 97383103 3 Separate Chairman and CEO S Against Against Positions Novellus Systems, Inc. USA 4/16/2004 Annual 670008101 1.1 Elect Director Richard S. Hill M For For Novellus Systems, Inc. USA 4/16/2004 Annual 670008101 1.2 Elect Director Neil R. Bonke M For For Novellus Systems, Inc. USA 4/16/2004 Annual 670008101 1.3 Elect Director Youssef A. M For For El-Mansy Novellus Systems, Inc. USA 4/16/2004 Annual 670008101 1.4 Elect Director J. David Litster M For For Novellus Systems, Inc. USA 4/16/2004 Annual 670008101 1.5 Elect Director Yoshio Nishi M For For Novellus Systems, Inc. USA 4/16/2004 Annual 670008101 1.6 Elect Director Glen G. Possley M For For Novellus Systems, Inc. USA 4/16/2004 Annual 670008101 1.7 Elect Director Ann D. Rhoads M For For Novellus Systems, Inc. USA 4/16/2004 Annual 670008101 1.8 Elect Director William R. M For For Spivey Novellus Systems, Inc. USA 4/16/2004 Annual 670008101 1.9 Elect Director Delbert A. M For For Whitaker Novellus Systems, Inc. USA 4/16/2004 Annual 670008101 2 Ratify Auditors M For For Novellus Systems, Inc. USA 4/16/2004 Annual 670008101 3 Provision of Non-Audit Services by Independent Auditors S Against Against Novellus Systems, Inc. USA 4/16/2004 Annual 670008101 4 Limit Executive Compensation S Against Against SunTrust Banks, Inc. USA 4/20/2004 Annual 867914103 1.1 Elect Director J. Hicks Lanier M For For SunTrust Banks, Inc. USA 4/20/2004 Annual 867914103 1.2 Elect Director Larry L. Prince M For For SunTrust Banks, Inc. USA 4/20/2004 Annual 867914103 1.3 Elect Director Frank S. Royal, M For For M.D. SunTrust Banks, Inc. USA 4/20/2004 Annual 867914103 1.4 Elect Director Robert M. Beall, M For For II SunTrust Banks, Inc. USA 4/20/2004 Annual 867914103 1.5 Elect Director Jeffrey C. Crowe M For For SunTrust Banks, Inc. USA 4/20/2004 Annual 867914103 2 Ratify Auditors M For For SunTrust Banks, Inc. USA 4/20/2004 Annual 867914103 3 Approve Omnibus Stock Plan M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Public Service Enterprise Group Inc. USA 4/20/2004 Annual 744573106 1.1 Elect Director Albert R. M For For Gamper, Jr. Public Service Enterprise Group Inc. USA 4/20/2004 Annual 744573106 1.2 Elect Director Ernest H. Drew M For For Public Service Enterprise Group Inc. USA 4/20/2004 Annual 744573106 1.3 Elect Director William V. M For For Hickey Public Service Enterprise Group Inc. USA 4/20/2004 Annual 744573106 1.4 Elect Director Richard J. Swift M For For Public Service Enterprise Group Inc. USA 4/20/2004 Annual 744573106 2 Approve Omnibus Stock Plan M For For Public Service Enterprise Group Inc. USA 4/20/2004 Annual 744573106 3 Ratify Auditors M For For Public Service Enterprise Group Inc. USA 4/20/2004 Annual 744573106 4 Require Two Candidates for Each S Against Against Board Seat Citigroup Inc. USA 4/20/2004 Annual 172967101 1.1 Elect Director C. Michael M For For Armstrong Citigroup Inc. USA 4/20/2004 Annual 172967101 1.2 Elect Director Alain J.P. Belda M For For Citigroup Inc. USA 4/20/2004 Annual 172967101 1.3 Elect Director George David M For For Citigroup Inc. USA 4/20/2004 Annual 172967101 1.4 Elect Director Kenneth T. Derr M For For Citigroup Inc. USA 4/20/2004 Annual 172967101 1.5 Elect Director John M. Deutch M For For Citigroup Inc. USA 4/20/2004 Annual 172967101 1.6 Elect Director Roberto M For For Hernandez Ramirez Citigroup Inc. USA 4/20/2004 Annual 172967101 1.7 Elect Director Ann Dibble M For For Jordan Citigroup Inc. USA 4/20/2004 Annual 172967101 1.8 Elect Director Dudley C. Mecum M For For Citigroup Inc. USA 4/20/2004 Annual 172967101 1.9 Elect Director Richard D. M For For Parsons Citigroup Inc. USA 4/20/2004 Annual 172967101 1.1 Elect Director Andrall E. M For For Pearson Citigroup Inc. USA 4/20/2004 Annual 172967101 1.11 Elect Director Charles Prince M For For Citigroup Inc. USA 4/20/2004 Annual 172967101 1.12 Elect Director Robert E. Rubin M For For Citigroup Inc. USA 4/20/2004 Annual 172967101 1.13 Elect Director Franklin A. M For For Thomas Citigroup Inc. USA 4/20/2004 Annual 172967101 1.14 Elect Director Sanford I. Weill M For For Citigroup Inc. USA 4/20/2004 Annual 172967101 1.15 Elect Director Robert B. M For For Willumstad Citigroup Inc. USA 4/20/2004 Annual 172967101 2 Ratify Auditors M For For Citigroup Inc. USA 4/20/2004 Annual 172967101 3 Limit Executive Compensation S Against Against Citigroup Inc. USA 4/20/2004 Annual 172967101 4 Report on Political Contributions/Activities S Against Against Citigroup Inc. USA 4/20/2004 Annual 172967101 5 Prohibit Awards to Executives S Against Against Citigroup Inc. USA 4/20/2004 Annual 172967101 6 Separate Chairman and CEO S Against Against Positions Sprint Corp. USA 4/20/2004 Annual 852061100 1.1 Elect Director Gordon M. M For For Bethune Sprint Corp. USA 4/20/2004 Annual 852061100 1.2 Elect Director E. Linn Draper, M For For Jr. Sprint Corp. USA 4/20/2004 Annual 852061100 1.3 Elect Director Deborah A. M For For Henretta Sprint Corp. USA 4/20/2004 Annual 852061100 1.4 Elect Director Linda Koch M For For Lorimer Sprint Corp. USA 4/20/2004 Annual 852061100 2 Ratify Auditors M For For Sprint Corp. USA 4/20/2004 Annual 852061100 3 Performance- Based/Indexed S Against Against Options Sprint Corp. USA 4/20/2004 Annual 852061100 4 Limit Executive Compensation S Against Against Sprint Corp. USA 4/20/2004 Annual 852061100 5 Separate Chairman and CEO S Against Against Positions Sprint Corp. USA 4/20/2004 Annual 852061100 6 Report on Foreign Outsourcing S Against Against Burlington Northern Santa Fe Corp. USA 4/21/2004 Annual 12189T104 1.1 Elect Director Alan L. M For For Boeckmann Burlington Northern Santa Fe Corp. USA 4/21/2004 Annual 12189T104 1.2 Elect Director Vilma S. M For Withhold Martinez Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Burlington Northern Santa Fe Corp. USA 4/21/2004 Annual 12189T104 1.3 Elect Director Marc F. Racicot M For Withhold Burlington Northern Santa Fe Corp. USA 4/21/2004 Annual 12189T104 1.4 Elect Director Roy S. Roberts M For For Burlington Northern Santa Fe Corp. USA 4/21/2004 Annual 12189T104 1.5 Elect Director Matthew K. Rose M For For Burlington Northern Santa Fe Corp. USA 4/21/2004 Annual 12189T104 1.6 Elect Director Marc J. Shapiro M For For Burlington Northern Santa Fe Corp. USA 4/21/2004 Annual 12189T104 1.7 Elect Director J.C. Watts, Jr. M For For Burlington Northern Santa Fe Corp. USA 4/21/2004 Annual 12189T104 1.8 Elect Director Robert H. West M For For Burlington Northern Santa Fe Corp. USA 4/21/2004 Annual 12189T104 1.9 Elect Director J. Steven M For For Whisler Burlington Northern Santa Fe Corp. USA 4/21/2004 Annual 12189T104 1.1 Elect Director Edward E. M For For Whitacre, Jr. Burlington Northern Santa Fe Corp. USA 4/21/2004 Annual 12189T104 1.11 Elect Director Michael B. M For For Yanney Burlington Northern Santa Fe Corp. USA 4/21/2004 Annual 12189T104 2 Amend Omnibus Stock Plan M For For Burlington Northern Santa Fe Corp. USA 4/21/2004 Annual 12189T104 3 Ratify Auditors M For For Pfizer Inc. USA 4/22/2004 Annual 717081103 1.1 Elect Director Michael S. Brown M For For Pfizer Inc. USA 4/22/2004 Annual 717081103 1.2 Elect Director M. Anthony Burns M For For Pfizer Inc. USA 4/22/2004 Annual 717081103 1.3 Elect Director Robert N. Burt M For For Pfizer Inc. USA 4/22/2004 Annual 717081103 1.4 Elect Director W. Don Cornwell M For For Pfizer Inc. USA 4/22/2004 Annual 717081103 1.5 Elect Director William H. M For For Gray III Pfizer Inc. USA 4/22/2004 Annual 717081103 1.6 Elect Director Constance J. M For For Horner Pfizer Inc. USA 4/22/2004 Annual 717081103 1.7 Elect Director William R. M For For Howell Pfizer Inc. USA 4/22/2004 Annual 717081103 1.8 Elect Director Stanley O. M For For Ikenberry Pfizer Inc. USA 4/22/2004 Annual 717081103 1.9 Elect Director George A. Lorch M For For Pfizer Inc. USA 4/22/2004 Annual 717081103 1.1 Elect Director Henry A. M For For Mckinnell Pfizer Inc. USA 4/22/2004 Annual 717081103 1.11 Elect Director Dana G. Mead M For For Pfizer Inc. USA 4/22/2004 Annual 717081103 1.12 Elect Director Franklin D. M For For Raines Pfizer Inc. USA 4/22/2004 Annual 717081103 1.13 Elect Director Ruth J. Simmons M For For Pfizer Inc. USA 4/22/2004 Annual 717081103 1.14 Elect Director William C. M For For Steere, Jr. Pfizer Inc. USA 4/22/2004 Annual 717081103 1.15 Elect Director Jean-Paul Valles M For For Pfizer Inc. USA 4/22/2004 Annual 717081103 2 Ratify Auditors M For For Pfizer Inc. USA 4/22/2004 Annual 717081103 3 Approve Omnibus Stock Plan M For For Pfizer Inc. USA 4/22/2004 Annual 717081103 4 Report on Operational Impact of S Against Against HIV/AIDS, TB, and Malaria Pandemic Pfizer Inc. USA 4/22/2004 Annual 717081103 5 Cease Political Contributions/ S Against Against Activities Pfizer Inc. USA 4/22/2004 Annual 717081103 6 Report on Political S Against Against Contributions/Activities Pfizer Inc. USA 4/22/2004 Annual 717081103 7 Establish Term Limits for S Against Against Directors Pfizer Inc. USA 4/22/2004 Annual 717081103 8 Report on Drug Pricing S Against Against Pfizer Inc. USA 4/22/2004 Annual 717081103 9 Limit Awards to Executives S Against Against Pfizer Inc. USA 4/22/2004 Annual 717081103 10 Amend Animal Testing Policy S Against Against Cognex Corp. USA 4/22/2004 Special 192422103 1.1 Elect Director Robert J. M For For Shillman Cognex Corp. USA 4/22/2004 Special 192422103 1.2 Elect Director Anthony Sun M For For Lexmark International, Inc. USA 4/22/2004 Annual 529771107 1.1 Elect Director Frank T. Cary M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Lexmark International, Inc. USA 4/22/2004 Annual 529771107 1.2 Elect Director Paul J. M For For Curlander Lexmark International, Inc. USA 4/22/2004 Annual 529771107 1.3 Elect Director Martin D. Walker M For For Lexmark International, Inc. USA 4/22/2004 Annual 529771107 1.4 Elect Director James F. M For For Hardymon Lexmark International, Inc. USA 4/22/2004 Annual 529771107 2 Approve Executive Incentive M For For Bonus Plan Lexmark International, Inc. USA 4/22/2004 Annual 529771107 3 Ratify Auditors M For For Wyeth USA 4/22/2004 Annual 983024100 1.1 Elect Director Clifford L. M For For Alexander, Jr. Wyeth USA 4/22/2004 Annual 983024100 1.2 Elect Director Frank A. M For For Bennack, Jr. Wyeth USA 4/22/2004 Annual 983024100 1.3 Elect Director Richard L. M For For Carrion Wyeth USA 4/22/2004 Annual 983024100 1.4 Elect Director Robert Essner M For For Wyeth USA 4/22/2004 Annual 983024100 1.5 Elect Director John D. Feerick M For For Wyeth USA 4/22/2004 Annual 983024100 1.6 Elect Director Robert Langer M For For Wyeth USA 4/22/2004 Annual 983024100 1.7 Elect Director John P. Mascotte M For For Wyeth USA 4/22/2004 Annual 983024100 1.8 Elect Director Mary Lake Polan M For For Wyeth USA 4/22/2004 Annual 983024100 1.9 Elect Director Ivan G. M For For Seidenberg Wyeth USA 4/22/2004 Annual 983024100 1.1 Elect Director Walter V. M For For Shipley Wyeth USA 4/22/2004 Annual 983024100 1.11 Elect Director John R. Torell M For For III Wyeth USA 4/22/2004 Annual 983024100 2 Ratify Auditors M For For Wyeth USA 4/22/2004 Annual 983024100 3 Report on Drug Pricing S Against Against Wyeth USA 4/22/2004 Annual 983024100 4 Amend Animal Testing Policy S Against Against Merrill Lynch & Co., Inc. USA 4/23/2004 Annual 590188108 1.1 Elect Director David K. M For For Newbigging Merrill Lynch & Co., Inc. USA 4/23/2004 Annual 590188108 1.2 Elect Director Joseph W. M For For Prueher Merrill Lynch & Co., Inc. USA 4/23/2004 Annual 590188108 2 Ratify Auditors M For For Merrill Lynch & Co., Inc. USA 4/23/2004 Annual 590188108 3 Restore or Provide for S Against Against Cumulative Voting Merrill Lynch & Co., Inc. USA 4/23/2004 Annual 590188108 4 Separate Chairman and CEO S Against Against Positions Merck & Co., Inc. USA 4/27/2004 Annual 589331107 1.1 Elect Director Peter C. Wendell M For For Merck & Co., Inc. USA 4/27/2004 Annual 589331107 1.2 Elect Director William G. Bowen M For For Merck & Co., Inc. USA 4/27/2004 Annual 589331107 1.3 Elect Director William M. Daley M For For Merck & Co., Inc. USA 4/27/2004 Annual 589331107 1.4 Elect Director Thomas E. Shenk M For For Merck & Co., Inc. USA 4/27/2004 Annual 589331107 1.5 Elect Director Wendell P. Weeks M For For Merck & Co., Inc. USA 4/27/2004 Annual 589331107 2 Ratify Auditors M For For Merck & Co., Inc. USA 4/27/2004 Annual 589331107 3 Declassify the Board of Directors M For For Merck & Co., Inc. USA 4/27/2004 Annual 589331107 4 Prohibit Awards to Executives S Against Against Merck & Co., Inc. USA 4/27/2004 Annual 589331107 5 Develop Ethical Criteria for S Against Against Patent Extension Merck & Co., Inc. USA 4/27/2004 Annual 589331107 6 Link Executive Compensation to S Against Against Social Issues Merck & Co., Inc. USA 4/27/2004 Annual 589331107 7 Report on Political S Against Against Contributions Merck & Co., Inc. USA 4/27/2004 Annual 589331107 8 Report on Operational Impact of S Against Against HIV/AIDS, TB, and Malaria Pandemic International Business Machines Corp. USA 4/27/2004 Annual 459200101 1.1 Elect Director Cathleen Black M For For International Business Machines Corp. USA 4/27/2004 Annual 459200101 1.2 Elect Director Kenneth I. M For For Chenault Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ International Business Machines Corp. USA 4/27/2004 Annual 459200101 1.3 Elect Director Carlos Ghosn M For For International Business Machines Corp. USA 4/27/2004 Annual 459200101 1.4 Elect Director Nannerl O. M For For Keohane International Business Machines Corp. USA 4/27/2004 Annual 459200101 1.5 Elect Director Charles F. M For For Knight International Business Machines Corp. USA 4/27/2004 Annual 459200101 1.6 Elect Director Lucio A. Noto M For For International Business Machines Corp. USA 4/27/2004 Annual 459200101 1.7 Elect Director Samuel J. M For For Palmisano International Business Machines Corp. USA 4/27/2004 Annual 459200101 1.8 Elect Director John B. M For For Slaughter International Business Machines Corp. USA 4/27/2004 Annual 459200101 1.9 Elect Director Joan E. Spero M For For International Business Machines Corp. USA 4/27/2004 Annual 459200101 1.1 Elect Director Sidney Taurel M For For International Business Machines Corp. USA 4/27/2004 Annual 459200101 1.11 Elect Director Charles M. Vest M For For International Business Machines Corp. USA 4/27/2004 Annual 459200101 1.12 Elect Director Lorenzo H. M For For Zambrano International Business Machines Corp. USA 4/27/2004 Annual 459200101 2 Ratify Auditors M For For International Business Machines Corp. USA 4/27/2004 Annual 459200101 3 Ratify Auditors for the M For For Company's Business Consulting Services Unit International Business Machines Corp. USA 4/27/2004 Annual 459200101 4 Approve Executive Incentive M For For Bonus Plan International Business Machines Corp. USA 4/27/2004 Annual 459200101 5 Provide for Cumulative Voting S Against Against International Business Machines Corp. USA 4/27/2004 Annual 459200101 6 Amend Pension and Retirement S Against Against Medical Insurance Plans International Business Machines Corp. USA 4/27/2004 Annual 459200101 7 Submit Executive Compensation S Against Against to Vote International Business Machines Corp. USA 4/27/2004 Annual 459200101 8 Expense Stock Options S Against Against International Business Machines Corp. USA 4/27/2004 Annual 459200101 9 Limit Awards to Executives S Against Against International Business Machines Corp. USA 4/27/2004 Annual 459200101 10 China Principles S Against Against International Business Machines Corp. USA 4/27/2004 Annual 459200101 11 Report on Political S Against Against Contributions/Activities International Business Machines Corp. USA 4/27/2004 Annual 459200101 12 Report on Executive Compensation S Against Against Kraft Foods Inc USA 4/27/2004 Annual 50075N104 1.1 Elect Director Louis C. M For Withhold Camilleri Kraft Foods Inc USA 4/27/2004 Annual 50075N104 1.2 Elect Director Roger K. M For Withhold Deromedi Kraft Foods Inc USA 4/27/2004 Annual 50075N104 1.3 Elect Director Dinyar S. M For Withhold Devitre Kraft Foods Inc USA 4/27/2004 Annual 50075N104 1.4 Elect Director W. James Farrell M For For Kraft Foods Inc USA 4/27/2004 Annual 50075N104 1.5 Elect Director Betsy D. Holden M For Withhold Kraft Foods Inc USA 4/27/2004 Annual 50075N104 1.6 Elect Director John C. Pope M For For Kraft Foods Inc USA 4/27/2004 Annual 50075N104 1.7 Elect Director Mary L. Schapiro M For For Kraft Foods Inc USA 4/27/2004 Annual 50075N104 1.8 Elect Director Charles R. Wall M For Withhold Kraft Foods Inc USA 4/27/2004 Annual 50075N104 1.9 Elect Director Deborah C. M For For Wright Kraft Foods Inc USA 4/27/2004 Annual 50075N104 2 Ratify Auditors M For For Exelon Corp. USA 4/27/2004 Annual 30161N101 1.1 Elect Director Nicholas M For For DeBenedictis Exelon Corp. USA 4/27/2004 Annual 30161N101 1.2 Elect Director G. Fred Dibona, M For For Jr. Exelon Corp. USA 4/27/2004 Annual 30161N101 1.3 Elect Director Sue L. Gin M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Exelon Corp. USA 4/27/2004 Annual 30161N101 1.4 Elect Director Edgar D. M For For Jannotta Exelon Corp. USA 4/27/2004 Annual 30161N101 2 Ratify Auditors M For For Exelon Corp. USA 4/27/2004 Annual 30161N101 3 Approve Executive Incentive M For For Bonus Plan American Electric Power Co. USA 4/27/2004 Annual 25537101 1.1 Elect Director E. R. Brooks M For For American Electric Power Co. USA 4/27/2004 Annual 25537101 1.2 Elect Director Donald M. M For For Carlton American Electric Power Co. USA 4/27/2004 Annual 25537101 1.3 Elect Director John P. M For For DesBarres American Electric Power Co. USA 4/27/2004 Annual 25537101 1.4 Elect Director Robert W. Fri M For For American Electric Power Co. USA 4/27/2004 Annual 25537101 1.5 Elect Director William R. M For For Howell American Electric Power Co. USA 4/27/2004 Annual 25537101 1.6 Elect Director Lester A. M For For Hudson, Jr. American Electric Power Co. USA 4/27/2004 Annual 25537101 1.7 Elect Director Leonard J. M For For Kujawa American Electric Power Co. USA 4/27/2004 Annual 25537101 1.8 Elect Director Michael G. M For For Morris American Electric Power Co. USA 4/27/2004 Annual 25537101 1.9 Elect Director Richard L. M For For Sandor American Electric Power Co. USA 4/27/2004 Annual 25537101 1.1 Elect Director Donald G. Smith M For For American Electric Power Co. USA 4/27/2004 Annual 25537101 1.11 Elect Director Kathryn D. M For For Sullivan American Electric Power Co. USA 4/27/2004 Annual 25537101 2 Ratify Auditors M For For American Electric Power Co. USA 4/27/2004 Annual 25537101 3 Submit Severance Agreement S Against For (Change-in-Control) to Shareholder Vote American Electric Power Co. USA 4/27/2004 Annual 25537101 4 Submit Executive Pension Benefit S Against For to Vote American Electric Power Co. USA 4/27/2004 Annual 25537101 5 Prohibit Auditor from Providing S Against Against Non-Audit Services American Electric Power Co. USA 4/27/2004 Annual 25537101 6 Establish Term Limits for S Against Against Directors Schering-Plough Corp. USA 4/27/2004 Annual 806605101 1.1 Elect Director Fred Hassan M For For Schering-Plough Corp. USA 4/27/2004 Annual 806605101 1.1 Elect Director Fred Hassan M For For Schering-Plough Corp. USA 4/27/2004 Annual 806605101 1.2 Elect Director Philip Leder, M For For M.D. Schering-Plough Corp. USA 4/27/2004 Annual 806605101 1.2 Elect Director Philip Leder, M For For M.D. Schering-Plough Corp. USA 4/27/2004 Annual 806605101 1.3 Elect Director Eugene R. M For For McGrath Schering-Plough Corp. USA 4/27/2004 Annual 806605101 1.3 Elect Director Eugene R. M For For McGrath Schering-Plough Corp. USA 4/27/2004 Annual 806605101 1.4 Elect Director Richard de J. M For For Osborne Schering-Plough Corp. USA 4/27/2004 Annual 806605101 1.4 Elect Director Richard de J. M For For Osborne Schering-Plough Corp. USA 4/27/2004 Annual 806605101 2 Ratify Auditors M For For Schering-Plough Corp. USA 4/27/2004 Annual 806605101 2 Ratify Auditors M For For Schering-Plough Corp. USA 4/27/2004 Annual 806605101 3 Approve Executive Incentive M For For Bonus Plan Schering-Plough Corp. USA 4/27/2004 Annual 806605101 3 Approve Executive Incentive M For For Bonus Plan Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Wells Fargo & Company USA 4/27/2004 Annual 949746101 1.1 Elect Director J.A. Blanchard M For For III Wells Fargo & Company USA 4/27/2004 Annual 949746101 1.2 Elect Director Susan E. Engel M For For Wells Fargo & Company USA 4/27/2004 Annual 949746101 1.3 Elect Director Enrique M For For Hernandez, Jr. Wells Fargo & Company USA 4/27/2004 Annual 949746101 1.4 Elect Director Robert L. Joss M For For Wells Fargo & Company USA 4/27/2004 Annual 949746101 1.5 Elect Director Reatha Clark M For For King Wells Fargo & Company USA 4/27/2004 Annual 949746101 1.6 Elect Director Richard M. M For For Kovacevich Wells Fargo & Company USA 4/27/2004 Annual 949746101 1.7 Elect Director Richard D. M For For McCormick Wells Fargo & Company USA 4/27/2004 Annual 949746101 1.8 Elect Director Cynthia H. M For For Milligan Wells Fargo & Company USA 4/27/2004 Annual 949746101 1.9 Elect Director Philip J. M For For Quigley Wells Fargo & Company USA 4/27/2004 Annual 949746101 1.1 Elect Director Donald B. Rice M For For Wells Fargo & Company USA 4/27/2004 Annual 949746101 1.11 Elect Director Judith M. M For For Runstad Wells Fargo & Company USA 4/27/2004 Annual 949746101 1.12 Elect Director Stephen W. M For For Sanger Wells Fargo & Company USA 4/27/2004 Annual 949746101 1.13 Elect Director Susan G. M For For Swenson Wells Fargo & Company USA 4/27/2004 Annual 949746101 1.14 Elect Director Michael W. M For For Wright Wells Fargo & Company USA 4/27/2004 Annual 949746101 2 Approve Retirement Plan M For For Wells Fargo & Company USA 4/27/2004 Annual 949746101 3 Ratify Auditors M For For Wells Fargo & Company USA 4/27/2004 Annual 949746101 4 Expense Stock Options S Against For Wells Fargo & Company USA 4/27/2004 Annual 949746101 5 Limit Executive Compensation S Against Against Wells Fargo & Company USA 4/27/2004 Annual 949746101 6 Link Executive Compensation to S Against Against Social Issues Wells Fargo & Company USA 4/27/2004 Annual 949746101 7 Report on Political S Against Against Contributions/Activities Metlife, Inc USA 4/27/2004 Annual 59156R108 1.1 Elect Director Curtis H. M For For Barnette Metlife, Inc USA 4/27/2004 Annual 59156R108 1.2 Elect Director John C. Danforth M For Withhold Metlife, Inc USA 4/27/2004 Annual 59156R108 1.3 Elect Director Burton A. Dole, M For For Jr. Metlife, Inc USA 4/27/2004 Annual 59156R108 1.4 Elect Director Harry P. Kamen M For Withhold Metlife, Inc USA 4/27/2004 Annual 59156R108 1.5 Elect Director Charles M. M For For Leighton Metlife, Inc USA 4/27/2004 Annual 59156R108 2 Approve Omnibus Stock Plan M For For Metlife, Inc USA 4/27/2004 Annual 59156R108 3 Approve Executive Incentive M For For Bonus Plan Metlife, Inc USA 4/27/2004 Annual 59156R108 4 Approve Non-Employee Director M For For Omnibus Stock Plan Metlife, Inc USA 4/27/2004 Annual 59156R108 5 Ratify Auditors M For For Metlife, Inc USA 4/27/2004 Annual 59156R108 6 Limit Executive Compensation S Against Against PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.1 Elect Director Paul Chellgren M For For PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.2 Elect Director Robert Clay M For For PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.3 Elect Director J. Gary Cooper M For For PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.4 Elect Director George Davidson, M For For Jr. PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.5 Elect Director Richard Kelson M For For PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.6 Elect Director Bruce Lindsay M For For PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.7 Elect Director Anthony Massaro M For For PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.8 Elect Director Thomas O'Brien M For For PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.9 Elect Director Jane Pepper M For For PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.1 Elect Director James Rohr M For For PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.11 Elect Director Lorene Steffes M For For PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.12 Elect Director Dennis Strigl M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.13 Elect Director Stephen Thieke M For For PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.14 Elect Director Thomas Usher M For For PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.15 Elect Director Milton M For For Washington PNC Financial Services Group, Inc. USA 4/27/2004 Annual 693475105 1.16 Elect Director Helge Wehmeier M For For The Chubb Corp. USA 4/27/2004 Annual 171232101 1.1 Elect Director Zoe Baird M For For The Chubb Corp. USA 4/27/2004 Annual 171232101 1.2 Elect Director Sheila P. Burke M For For The Chubb Corp. USA 4/27/2004 Annual 171232101 1.3 Elect Director James I. Cash, M For For Jr. The Chubb Corp. USA 4/27/2004 Annual 171232101 1.4 Elect Director Joel J. Cohen M For For The Chubb Corp. USA 4/27/2004 Annual 171232101 1.5 Elect Director James M. M For For Cornelius The Chubb Corp. USA 4/27/2004 Annual 171232101 1.6 Elect Director John D. Finnegan M For For The Chubb Corp. USA 4/27/2004 Annual 171232101 1.7 Elect Director David H. Hoag M For For The Chubb Corp. USA 4/27/2004 Annual 171232101 1.8 Elect Director Klaus J. Mangold M For For The Chubb Corp. USA 4/27/2004 Annual 171232101 1.9 Elect Director Sir David G. M For For Scholey, CBE The Chubb Corp. USA 4/27/2004 Annual 171232101 1.1 Elect Director Raymond G. H. M For For Seitz The Chubb Corp. USA 4/27/2004 Annual 171232101 1.11 Elect Director Lawrence M. M For For Small The Chubb Corp. USA 4/27/2004 Annual 171232101 1.12 Elect Director Daniel E. Somers M For For The Chubb Corp. USA 4/27/2004 Annual 171232101 1.13 Elect Director Karen Hastie M For For Williams The Chubb Corp. USA 4/27/2004 Annual 171232101 1.14 Elect Director James M. M For For Zimmerman The Chubb Corp. USA 4/27/2004 Annual 171232101 1.15 Elect Director Alfred W. Zollar M For For The Chubb Corp. USA 4/27/2004 Annual 171232101 2 Approve Omnibus Stock Plan M For For The Chubb Corp. USA 4/27/2004 Annual 171232101 3 Approve Non-Employee Director M For For Omnibus Stock Plan The Chubb Corp. USA 4/27/2004 Annual 171232101 4 Ratify Auditors M For For The Chubb Corp. USA 4/27/2004 Annual 171232101 5 Report on Political S Against Against Contributions/Activities Verizon Communications USA 4/28/2004 Annual 92343V104 1.1 Elect Director James R. Barker M For For Verizon Communications USA 4/28/2004 Annual 92343V104 1.2 Elect Director Richard L. M For For Carrion Verizon Communications USA 4/28/2004 Annual 92343V104 1.3 Elect Director Robert W. Lane M For For Verizon Communications USA 4/28/2004 Annual 92343V104 1.4 Elect Director Sandra O. Moose M For For Verizon Communications USA 4/28/2004 Annual 92343V104 1.5 Elect Director Joseph Neubauer M For For Verizon Communications USA 4/28/2004 Annual 92343V104 1.6 Elect Director Thomas H. M For For O'Brien Verizon Communications USA 4/28/2004 Annual 92343V104 1.7 Elect Director Hugh B. Price M For For Verizon Communications USA 4/28/2004 Annual 92343V104 1.8 Elect Director Ivan G. M For For Seidenberg Verizon Communications USA 4/28/2004 Annual 92343V104 1.9 Elect Director Walter V. M For For Shipley Verizon Communications USA 4/28/2004 Annual 92343V104 1.1 Elect Director John R. Stafford M For For Verizon Communications USA 4/28/2004 Annual 92343V104 1.11 Elect Director Robert D. Storey M For For Verizon Communications USA 4/28/2004 Annual 92343V104 2 Ratify Auditors M For For Verizon Communications USA 4/28/2004 Annual 92343V104 3 Restore or Provide for S Against Against Cumulative Voting Verizon Communications USA 4/28/2004 Annual 92343V104 4 Require Majority of Independent S Against Against Directors on Board Verizon Communications USA 4/28/2004 Annual 92343V104 5 Separate Chairman and CEO S Against Against Positions Verizon Communications USA 4/28/2004 Annual 92343V104 6 Submit Shareholder Rights Plan S Against Against (Poison Pill) to Shareholder Vote Verizon Communications USA 4/28/2004 Annual 92343V104 7 Submit Executive Compensation S Against Against to Vote Verizon Communications USA 4/28/2004 Annual 92343V104 8 Prohibit Awards to Executives S Against Against Verizon Communications USA 4/28/2004 Annual 92343V104 9 Report on Stock Option Distribution by Race and Gender S Against Against Verizon Communications USA 4/28/2004 Annual 92343V104 10 Report on Political Contributions/Activities S Against Against Verizon Communications USA 4/28/2004 Annual 92343V104 11 Cease Charitable Contributions S Against Against Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 1.1 Elect Director Alain J. P. M For For Belda E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 1.2 Elect Director Richard H. Brown M For For E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 1.3 Elect Director Curtis J. M For For Crawford E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 1.4 Elect Director John T. Dillon M For For E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 1.5 Elect Director Louisa C. M For For Duemling E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 1.6 Elect Director Charles O. M For For Holliday, Jr. E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 1.7 Elect Director Deborah C. M For For Hopkins E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 1.8 Elect Director Lois D. Juliber M For For E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 1.9 Elect Director Masahisa Naitoh M For For E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 1.1 Elect Director William K. M For For Reilly E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 1.11 Elect Director H. Rodney Sharp, M For For III E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 1.12 Elect Director Charles M. Vest M For For E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 2 Ratify Auditors M For For E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 3 Report on Executive Ties to S Against Against Government E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 4 Adopt and Report on a Code of S Against Against Corporate Conduct E.I. Du Pont De Nemours & Co. USA 4/28/2004 Annual 263534109 5 Limit Executive Compensation S Against Against Clear Channel Communications, Inc. USA 4/28/2004 Annual 184502102 1.1 Elect Director Alan D. Feld M For Withhold Clear Channel Communications, Inc. USA 4/28/2004 Annual 184502102 1.2 Elect Director Thomas O. Hicks M For For Clear Channel Communications, Inc. USA 4/28/2004 Annual 184502102 1.3 Elect Director Perry J. Lewis M For For Clear Channel Communications, Inc. USA 4/28/2004 Annual 184502102 1.4 Elect Director L. Lowry Mays M For For Clear Channel Communications, Inc. USA 4/28/2004 Annual 184502102 1.5 Elect Director Mark P. Mays M For For Clear Channel Communications, Inc. USA 4/28/2004 Annual 184502102 1.6 Elect Director Randall T. Mays M For For Clear Channel Communications, Inc. USA 4/28/2004 Annual 184502102 1.7 Elect Director B.J. Mccombs M For For Clear Channel Communications, Inc. USA 4/28/2004 Annual 184502102 1.8 Elect Director Phyllis B. M For For Riggins Clear Channel Communications, Inc. USA 4/28/2004 Annual 184502102 1.9 Elect Director Theordore H. M For For Strauss Clear Channel Communications, Inc. USA 4/28/2004 Annual 184502102 1.1 Elect Director J.C. Watts M For For Clear Channel Communications, Inc. USA 4/28/2004 Annual 184502102 1.11 Elect Director John H. Williams M For For Clear Channel Communications, Inc. USA 4/28/2004 Annual 184502102 2 Ratify Auditors M For For Kimberly-Clark Corp. USA 4/29/2004 Annual 494368103 1.1 Elect Director Pastora San M For Withhold Juan Cafferty Kimberly-Clark Corp. USA 4/29/2004 Annual 494368103 1.2 Elect Director Claudio X. M For Withhold Gonzalez Kimberly-Clark Corp. USA 4/29/2004 Annual 494368103 1.3 Elect Director Linda Johnson M For Withhold Rice Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Kimberly-Clark Corp. USA 4/29/2004 Annual 494368103 1.4 Elect Director Marc J. Shapiro M For Withhold Kimberly-Clark Corp. USA 4/29/2004 Annual 494368103 2 Amend Omnibus Stock Plan M For For Kimberly-Clark Corp. USA 4/29/2004 Annual 494368103 3 Ratify Auditors M For For Kimberly-Clark Corp. USA 4/29/2004 Annual 494368103 4 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote Altria Group, Inc. USA 4/29/2004 Annual 02209S103 1.1 Elect Director Elizabeth E. M For For Bailey Altria Group, Inc. USA 4/29/2004 Annual 02209S103 1.2 Elect Director Mathis M For For Cabiallavetta Altria Group, Inc. USA 4/29/2004 Annual 02209S103 1.3 Elect Director Louis C. M For For Camilleri Altria Group, Inc. USA 4/29/2004 Annual 02209S103 1.4 Elect Director J. Dudley M For For Fishburn Altria Group, Inc. USA 4/29/2004 Annual 02209S103 1.5 Elect Director Robert E. R. M For For Huntley Altria Group, Inc. USA 4/29/2004 Annual 02209S103 1.6 Elect Director Thomas W. Jones M For For Altria Group, Inc. USA 4/29/2004 Annual 02209S103 1.7 Elect Director Lucio A. Noto M For For Altria Group, Inc. USA 4/29/2004 Annual 02209S103 1.8 Elect Director John S. Reed M For For Altria Group, Inc. USA 4/29/2004 Annual 02209S103 1.9 Elect Director Carlos Slim Helu M For For Altria Group, Inc. USA 4/29/2004 Annual 02209S103 1.1 Elect Director Stephen M. Wolf M For For Altria Group, Inc. USA 4/29/2004 Annual 02209S103 2 Ratify Auditors M For For Altria Group, Inc. USA 4/29/2004 Annual 02209S103 3 Report on Product Warnings for S Against Against Pregnant Women Altria Group, Inc. USA 4/29/2004 Annual 02209S103 4 Report on Health Risks S Against Against Associated with Cigarette Filters Altria Group, Inc. USA 4/29/2004 Annual 02209S103 5 Political Contributions/ S Against Against Activities Altria Group, Inc. USA 4/29/2004 Annual 02209S103 6 Cease Use of Light and Ultra S Against Against Light in Cigarette Marketing Altria Group, Inc. USA 4/29/2004 Annual 02209S103 7 Place Canadian Style Warnings on S Against Against Cigarette Packaging Altria Group, Inc. USA 4/29/2004 Annual 02209S103 8 Separate Chairman and CEO S Against Against Positions Capital One Financial Corp. USA 4/29/2004 Annual 14040H105 1.1 Elect Director W. Ronald Dietz M For For Capital One Financial Corp. USA 4/29/2004 Annual 14040H105 1.2 Elect Director Lewis Hay, III M For For Capital One Financial Corp. USA 4/29/2004 Annual 14040H105 1.3 Elect Director Mayo A. Shattuck, III M For For Capital One Financial Corp. USA 4/29/2004 Annual 14040H105 2 Ratify Auditors M For For Capital One Financial Corp. USA 4/29/2004 Annual 14040H105 3 Approve Omnibus Stock Plan M For For Torchmark Corp. USA 4/29/2004 Annual 891027104 1.1 Elect Director Charles E. Adair M For For Torchmark Corp. USA 4/29/2004 Annual 891027104 1.2 Elect Director Joseph M. Farley M For For Torchmark Corp. USA 4/29/2004 Annual 891027104 1.3 Elect Director C. B. Hudson M For For Torchmark Corp. USA 4/29/2004 Annual 891027104 1.4 Elect Director Joseph L. M For For Lanier, Jr. Torchmark Corp. USA 4/29/2004 Annual 891027104 1.5 Elect Director R. K. Richey M For For Torchmark Corp. USA 4/29/2004 Annual 891027104 2 Ratify Auditors M For For Torchmark Corp. USA 4/29/2004 Annual 891027104 3 Limit Executive Compensation S Against Against Torchmark Corp. USA 4/29/2004 Annual 891027104 4 Divest Investments in Tobacco S Against Against Companies Alcoa Inc. USA 4/30/2004 Annual 13817101 1.1 Elect Director Alain J.P. Belda M For For Alcoa Inc. USA 4/30/2004 Annual 13817101 1.2 Elect Director Carlos Ghosn M For For Alcoa Inc. USA 4/30/2004 Annual 13817101 1.3 Elect Director Henry B. Schacht M For For Alcoa Inc. USA 4/30/2004 Annual 13817101 1.4 Elect Director Franklin A. M For For Thomas Alcoa Inc. USA 4/30/2004 Annual 13817101 2 Approve Omnibus Stock Plan M For For Alcoa Inc. USA 4/30/2004 Annual 13817101 3 Report on Pay Disparity S Against Against Alcoa Inc. USA 4/30/2004 Annual 13817101 4 Submit Severance Agreement S Against Against (Change-in-Control) to Shareholder Vote Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ SBC Communications Inc. USA 4/30/2004 Annual 78387G103 1.1 Elect Director James E. Barnes M For For SBC Communications Inc. USA 4/30/2004 Annual 78387G103 1.2 Elect Director James A. M For For Henderson SBC Communications Inc. USA 4/30/2004 Annual 78387G103 1.3 Elect Director John B. McCoy M For For SBC Communications Inc. USA 4/30/2004 Annual 78387G103 1.4 Elect Director S. Donley M For For Ritchey SBC Communications Inc. USA 4/30/2004 Annual 78387G103 1.5 Elect Director Joyce M. Roche M For For SBC Communications Inc. USA 4/30/2004 Annual 78387G103 1.6 Elect Director Patricia P. M For For Upton SBC Communications Inc. USA 4/30/2004 Annual 78387G103 2 Ratify Auditors M For For SBC Communications Inc. USA 4/30/2004 Annual 78387G103 3 Amend Bylaws M For For SBC Communications Inc. USA 4/30/2004 Annual 78387G103 4 Report on Political S Against Against Contributions/Activities SBC Communications Inc. USA 4/30/2004 Annual 78387G103 5 Change Size of Board of S Against Against Directors Aetna Inc. USA 4/30/2004 Annual 00817Y108 1.1 Elect Director Betsy Z. Cohen M For For Aetna Inc. USA 4/30/2004 Annual 00817Y108 1.2 Elect Director Barbara Hackman M For For Franklin Aetna Inc. USA 4/30/2004 Annual 00817Y108 1.3 Elect Director Jeffrey E. M For For Garten Aetna Inc. USA 4/30/2004 Annual 00817Y108 1.4 Elect Director Earl G. Graves M For For Aetna Inc. USA 4/30/2004 Annual 00817Y108 1.5 Elect Director Gerald Greenwald M For For Aetna Inc. USA 4/30/2004 Annual 00817Y108 1.6 Elect Director Ellen M. Hancock M For For Aetna Inc. USA 4/30/2004 Annual 00817Y108 1.7 Elect Director Michael H. M For For Jordan Aetna Inc. USA 4/30/2004 Annual 00817Y108 1.8 Elect Director Jack D. Kuehler M For For Aetna Inc. USA 4/30/2004 Annual 00817Y108 1.9 Elect Director Edward J. Ludwig M For For Aetna Inc. USA 4/30/2004 Annual 00817Y108 1.1 Elect Director Joseph P. M For For Newhouse Aetna Inc. USA 4/30/2004 Annual 00817Y108 1.11 Elect Director Judith Rodin M For For Aetna Inc. USA 4/30/2004 Annual 00817Y108 1.12 Elect Director John W. Rowe, M For For M.D. Aetna Inc. USA 4/30/2004 Annual 00817Y108 1.13 Elect Director Ronald A. M For For Williams Aetna Inc. USA 4/30/2004 Annual 00817Y108 1.14 Elect Director R. David Yost M For For Aetna Inc. USA 4/30/2004 Annual 00817Y108 2 Ratify Auditors M For For Aetna Inc. USA 4/30/2004 Annual 00817Y108 3 Provide for Cumulative Voting S Against Against Aetna Inc. USA 4/30/2004 Annual 00817Y108 4 Limit Executive Compensation S Against Against Berkshire Hathaway Inc. USA 5/1/2004 Annual 84670207 1.1 Elect Director Warren E. Buffett M For For Berkshire Hathaway Inc. USA 5/1/2004 Annual 84670207 1.2 Elect Director Charles T. Munger M For For Berkshire Hathaway Inc. USA 5/1/2004 Annual 84670207 1.3 Elect Director Susan T. Buffett M For For Berkshire Hathaway Inc. USA 5/1/2004 Annual 84670207 1.4 Elect Director Howard G. Buffett M For For Berkshire Hathaway Inc. USA 5/1/2004 Annual 84670207 1.5 Elect Director Malcolm G. Chace M For For Berkshire Hathaway Inc. USA 5/1/2004 Annual 84670207 1.6 Elect Director David S. Gottesman M For For Berkshire Hathaway Inc. USA 5/1/2004 Annual 84670207 1.7 Elect Director Charlotte Guyman M For For Berkshire Hathaway Inc. USA 5/1/2004 Annual 84670207 1.8 Elect Director Donald R. Keough M For For Berkshire Hathaway Inc. USA 5/1/2004 Annual 84670207 1.9 Elect Director Thomas S. Murphy M For For Berkshire Hathaway Inc. USA 5/1/2004 Annual 84670207 1.1 Elect Director Ronald L. Olson M For For Berkshire Hathaway Inc. USA 5/1/2004 Annual 84670207 1.11 Elect Director Walter Scott, Jr. M For For Berkshire Hathaway Inc. USA 5/1/2004 Annual 84670207 2 Report on Political Contributions/Activities S Against Against Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Rohm and Haas Co. USA 5/3/2004 Annual 775371107 1.1 Elect Director William J. Avery M For For Rohm and Haas Co. USA 5/3/2004 Annual 775371107 1.2 Elect Director J. Michael M For For Fitzpatrick Rohm and Haas Co. USA 5/3/2004 Annual 775371107 1.3 Elect Director Earl G. Graves, M For For Sr. Rohm and Haas Co. USA 5/3/2004 Annual 775371107 1.4 Elect Director Raj L. Gupta M For For Rohm and Haas Co. USA 5/3/2004 Annual 775371107 1.5 Elect Director David W. Haas M For For Rohm and Haas Co. USA 5/3/2004 Annual 775371107 1.6 Elect Director Thomas W. Haas M For For Rohm and Haas Co. USA 5/3/2004 Annual 775371107 1.7 Elect Director James A. M For For Henderson Rohm and Haas Co. USA 5/3/2004 Annual 775371107 1.8 Elect Director Richard L. M For For Keyser Rohm and Haas Co. USA 5/3/2004 Annual 775371107 1.9 Elect Director Jorge P. Montoya M For For Rohm and Haas Co. USA 5/3/2004 Annual 775371107 1.1 Elect Director Sandra O. Moose M For For Rohm and Haas Co. USA 5/3/2004 Annual 775371107 1.11 Elect Director Gilbert S. Omenn M For For Rohm and Haas Co. USA 5/3/2004 Annual 775371107 1.12 Elect Director Gary L. Rogers M For For Rohm and Haas Co. USA 5/3/2004 Annual 775371107 1.13 Elect Director Ronaldo H. M For For Schmitz Rohm and Haas Co. USA 5/3/2004 Annual 775371107 1.14 Elect Director Marna C. M For For Whittington Rohm and Haas Co. USA 5/3/2004 Annual 775371107 2 Approve Executive Incentive M For For Bonus Plan Rohm and Haas Co. USA 5/3/2004 Annual 775371107 3 Approve Executive Incentive M For For Bonus Plan Rohm and Haas Co. USA 5/3/2004 Annual 775371107 4 Amend Omnibus Stock Plan M For For Rohm and Haas Co. USA 5/3/2004 Annual 775371107 5 Ratify Auditors M For For Rohm and Haas Co. USA 5/3/2004 Annual 775371107 6 Other Business M For Against Bristol-Myers Squibb Co. USA 5/4/2004 Annual 110122108 1.1 Elect Director Peter R. Dolan M For For Bristol-Myers Squibb Co. USA 5/4/2004 Annual 110122108 1.2 Elect Director Louis V. M For For Gerstner, Jr. Bristol-Myers Squibb Co. USA 5/4/2004 Annual 110122108 1.3 Elect Director Leif Johansson M For For Bristol-Myers Squibb Co. USA 5/4/2004 Annual 110122108 2 Ratify Auditors M For For Bristol-Myers Squibb Co. USA 5/4/2004 Annual 110122108 3 Report on Political S Against Against Contributions/Activities Bristol-Myers Squibb Co. USA 5/4/2004 Annual 110122108 4 Cease Political Contributions/ S Against Against Activities Bristol-Myers Squibb Co. USA 5/4/2004 Annual 110122108 5 Separate Chairman and CEO S Against Against Positions Bristol-Myers Squibb Co. USA 5/4/2004 Annual 110122108 6 Report on Operational Impact of S Against Against HIV/AIDS, TB, and Malaria Pandemic Bristol-Myers Squibb Co. USA 5/4/2004 Annual 110122108 7 Require Affirmative Vote of a S Against Against Majority of the Shares to Elect Directors Ambac Financial Group, Inc. USA 5/4/2004 Annual 23139108 1.1 Elect Director Phillip B. M For For Lassiter Ambac Financial Group, Inc. USA 5/4/2004 Annual 23139108 1.2 Elect Director Michael A. M For For Callen Ambac Financial Group, Inc. USA 5/4/2004 Annual 23139108 1.3 Elect Director Renso L. M For For Caporali Ambac Financial Group, Inc. USA 5/4/2004 Annual 23139108 1.4 Elect Director Jill M. M For For Considine Ambac Financial Group, Inc. USA 5/4/2004 Annual 23139108 1.5 Elect Director Richard Dulude M For For Ambac Financial Group, Inc. USA 5/4/2004 Annual 23139108 1.6 Elect Director Robert J. M For For Genader Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Ambac Financial Group, Inc. USA 5/4/2004 Annual 23139108 1.7 Elect Director W. Grant Gregory M For For Ambac Financial Group, Inc. USA 5/4/2004 Annual 23139108 1.8 Elect Director Laura S. Unger M For For Ambac Financial Group, Inc. USA 5/4/2004 Annual 23139108 1.9 Elect Director Henry D. G. M For For Wallace Ambac Financial Group, Inc. USA 5/4/2004 Annual 23139108 2 Increase Authorized Common Stock M For For Ambac Financial Group, Inc. USA 5/4/2004 Annual 23139108 3 Amend Non-Employee Director M For For Omnibus Stock Plan Ambac Financial Group, Inc. USA 5/4/2004 Annual 23139108 4 Ratify Auditors M For For Georgia-Pacific Corp. USA 5/4/2004 Annual 373298108 1.1 Elect Director Barbara L. M For For Bowles Georgia-Pacific Corp. USA 5/4/2004 Annual 373298108 1.2 Elect Director Donald V. Fites M For For Georgia-Pacific Corp. USA 5/4/2004 Annual 373298108 1.3 Elect Director David R. Goode M For For Georgia-Pacific Corp. USA 5/4/2004 Annual 373298108 1.4 Elect Director Karen N. Horn M For For Georgia-Pacific Corp. USA 5/4/2004 Annual 373298108 1.5 Elect Director William R. M For For Johnson Georgia-Pacific Corp. USA 5/4/2004 Annual 373298108 1.6 Elect Director James B. M For For Williams Georgia-Pacific Corp. USA 5/4/2004 Annual 373298108 2 Amend Omnibus Stock Plan M For For Georgia-Pacific Corp. USA 5/4/2004 Annual 373298108 3 Approve Executive Incentive M For For Bonus Plan Georgia-Pacific Corp. USA 5/4/2004 Annual 373298108 4 Ratify Auditors M For For ConocoPhillips USA 5/5/2004 Annual 20825C104 1.1 Elect Director David L. Boren M For For ConocoPhillips USA 5/5/2004 Annual 20825C104 1.2 Elect Director James E. M For For Copeland, Jr. ConocoPhillips USA 5/5/2004 Annual 20825C104 1.3 Elect Director Kenneth M. M For For Duberstein ConocoPhillips USA 5/5/2004 Annual 20825C104 1.4 Elect Director Ruth R. Harkin M For For ConocoPhillips USA 5/5/2004 Annual 20825C104 1.5 Elect Director William R. M For For Rhodes ConocoPhillips USA 5/5/2004 Annual 20825C104 1.6 Elect Director J. Stapleton Roy M For For ConocoPhillips USA 5/5/2004 Annual 20825C104 2 Ratify Auditors M For For ConocoPhillips USA 5/5/2004 Annual 20825C104 3 Approve Omnibus Stock Plan M For For ConocoPhillips USA 5/5/2004 Annual 20825C104 4 Limit Executive Compensation S Against Against ConocoPhillips USA 5/5/2004 Annual 20825C104 5 Limit Executive Compensation S Against Against ConocoPhillips USA 5/5/2004 Annual 20825C104 6 Report on Drilling in the Arctic National Wildlife Refuge S Against Against International Paper Co. USA 5/11/2004 Annual 460146103 1.1 Elect Director Martha F. Brooks M For For International Paper Co. USA 5/11/2004 Annual 460146103 1.1 Elect Director Martha F. Brooks M For For International Paper Co. USA 5/11/2004 Annual 460146103 1.2 Elect Director James A. M For For Henderson International Paper Co. USA 5/11/2004 Annual 460146103 1.2 Elect Director James A. M For For Henderson International Paper Co. USA 5/11/2004 Annual 460146103 1.3 Elect Director Robert D. M For For Kennedy International Paper Co. USA 5/11/2004 Annual 460146103 1.3 Elect Director Robert D. M For For Kennedy International Paper Co. USA 5/11/2004 Annual 460146103 1.4 Elect Director W. Craig M For Withhold McClelland International Paper Co. USA 5/11/2004 Annual 460146103 1.4 Elect Director W. Craig M For Withhold McClelland International Paper Co. USA 5/11/2004 Annual 460146103 1.5 Elect Director Robert M. Amen M For For International Paper Co. USA 5/11/2004 Annual 460146103 1.5 Elect Director Robert M. Amen M For For International Paper Co. USA 5/11/2004 Annual 460146103 2 Ratify Auditors M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ International Paper Co. USA 5/11/2004 Annual 460146103 2 Ratify Auditors M For For International Paper Co. USA 5/11/2004 Annual 460146103 3 Amend Omnibus Stock Plan M For For International Paper Co. USA 5/11/2004 Annual 460146103 3 Amend Omnibus Stock Plan M For For International Paper Co. USA 5/11/2004 Annual 460146103 4 Amend Omnibus Stock Plan M For For International Paper Co. USA 5/11/2004 Annual 460146103 4 Amend Omnibus Stock Plan M For For International Paper Co. USA 5/11/2004 Annual 460146103 5 Limit Executive Compensation S Against Against International Paper Co. USA 5/11/2004 Annual 460146103 5 Limit Executive Compensation S Against Against Unilever N.V. Netherlands 5/12/2004 Annual 904784709 1 ADOPTION OF THE ANNUAL ACCOUNTS M For For AND APPROPRIATION OF THE PROFIT FOR THE 2003 FINANCIAL YEAR. Unilever N.V. Netherlands 5/12/2004 Annual 904784709 2 DISCHARGE OF THE MEMBERS OF THE M For For BOARD OF DIRECTORS. Unilever N.V. Netherlands 5/12/2004 Annual 904784709 3 CORPORATE GOVERNANCE AND M For For ALTERATIONS TO THE ARTICLES OF ASSOCIATION. Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.1 Elect Director A. Burgmans M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.2 Elect Director Ac Butler M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.3 Elect Director Pj Cescau M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.4 Elect Director Kb Dadiseth M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.5 Elect Director Nwa Fitzgerald M For For Kbe Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.6 Elect Director Ar Baron Van M For For Heemstra Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.7 Elect Director Rhp Markham M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.8 Elect Director Cj Van Der Graaf M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.9 Elect Director Lord Brittan* M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.1 Elect Director Baroness M For For Chalker* Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.11 Elect Director B Collomb* M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.12 Elect Director Professor W Dik* M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.13 Elect Director O Fanjul* M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.14 Elect Director Cx Gonzalez* M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.15 Elect Director H Kopper* M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.16 Elect Director Lord Simon* M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 4.17 Elect Director J Van Der Veer* M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 5 REMUNERATION OF NON-EXECUTIVE M For For DIRECTORS. Unilever N.V. Netherlands 5/12/2004 Annual 904784709 6 Ratify Auditors M For For Unilever N.V. Netherlands 5/12/2004 Annual 904784709 7 DESIGNATION, IN ACCORDANCE WITH M For Against ARTICLES 96 AND 96A OF BOOK 2 OF THE NETHERLANDS CIVIL CODE, OF THE BOARD OF DIRECTORS AS THE COMPANY BODY AUTHORIZED IN RESPECT OF THE ISSUE OF SHARES IN THE COMPANY. Unilever N.V. Netherlands 5/12/2004 Annual 904784709 8 AUTHORIZATION, IN ACCORDANCE M For For WITH ARTICLE 98 OF BOOK 2 OF THE NETHERLANDS CIVIL CODE, OF THE BOARD OF DIRECTORS TO PURCHASE SHARES IN THE COMPANY AND DEPOSITARY RECEIPTS THEREFOR. Unilever N.V. Netherlands 5/12/2004 Annual 904784709 9 AUTHORIZATION, IN ACCORDANCE M For For WITH ARTICLE 119 OF BOOK 2 OF THE NETHERLANDS CIVIL CODE, OF THE BOARD OF DIRECTORS TO DETERMINE A REGISTRATION TIME FOR THE EXERCISE OF THE RIGHTS TO ATTEND THE GENERAL MEETING AND TO VOTE THEREAT. Eastman Kodak Co. USA 5/12/2004 Annual 277461109 1.1 Elect Director William H. M For For Hernandez Eastman Kodak Co. USA 5/12/2004 Annual 277461109 1.2 Elect Director Hector de J. M For For Ruiz Eastman Kodak Co. USA 5/12/2004 Annual 277461109 1.3 Elect Director Laura M For For D'Andrea Tyson Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Eastman Kodak Co. USA 5/12/2004 Annual 277461109 2 Ratify Auditors M For For Eastman Kodak Co. USA 5/12/2004 Annual 277461109 3 Approve Omnibus Stock Plan M For For Eastman Kodak Co. USA 5/12/2004 Annual 277461109 4 Adopt Chemical Policy S Against Against Eastman Kodak Co. USA 5/12/2004 Annual 277461109 5 Prohibit Awards to S Against Against Executives CVS Corporation USA 5/12/2004 Annual 126650100 1.1 Elect Director W. Don Cornwell M For For CVS Corporation USA 5/12/2004 Annual 126650100 1.2 Elect Director Thomas P. M For For Gerrity CVS Corporation USA 5/12/2004 Annual 126650100 1.3 Elect Director Stanley P. M For For Goldstein CVS Corporation USA 5/12/2004 Annual 126650100 1.4 Elect Director Marian L. Heard M For For CVS Corporation USA 5/12/2004 Annual 126650100 1.5 Elect Director William H. Joyce M For For CVS Corporation USA 5/12/2004 Annual 126650100 1.6 Elect Director Terry R. M For For Lautenbach CVS Corporation USA 5/12/2004 Annual 126650100 1.7 Elect Director Terrence Murray M For For CVS Corporation USA 5/12/2004 Annual 126650100 1.8 Elect Director Sheli Z. M For For Rosenberg CVS Corporation USA 5/12/2004 Annual 126650100 1.9 Elect Director Thomas M. Ryan M For For CVS Corporation USA 5/12/2004 Annual 126650100 2 Amend Omnibus Stock Plan M For For CVS Corporation USA 5/12/2004 Annual 126650100 3 Ratify Auditors M For For CVS Corporation USA 5/12/2004 Annual 126650100 4 Limit Executive Compensation S Against Against The Dow Chemical Company USA 5/13/2004 Annual 260543103 1.1 Elect Director Arnold A. M For For Allemang The Dow Chemical Company USA 5/13/2004 Annual 260543103 1.2 Elect Director John C. Danforth M For For The Dow Chemical Company USA 5/13/2004 Annual 260543103 1.3 Elect Director Jeff M. Fettig M For For The Dow Chemical Company USA 5/13/2004 Annual 260543103 1.4 Elect Director Andrew N. M For For Liveris The Dow Chemical Company USA 5/13/2004 Annual 260543103 1.5 Elect Director James M. Ringler M For For The Dow Chemical Company USA 5/13/2004 Annual 260543103 1.6 Elect Director William S. M For For Stavropoulos The Dow Chemical Company USA 5/13/2004 Annual 260543103 2 Ratify Auditors M For For The Dow Chemical Company USA 5/13/2004 Annual 260543103 3 Declassify the Board of M For For Directors The Dow Chemical Company USA 5/13/2004 Annual 260543103 4 Report on Social Initiatives in Bhopal S Against Against Transocean Inc. Cayman Islands 5/13/2004 Annual G90078109 1.1 Elect Director Robert L. Long M For For Transocean Inc. Cayman Islands 5/13/2004 Annual G90078109 1.2 Elect Director Martin B. M For For Mcnamara Transocean Inc. Cayman Islands 5/13/2004 Annual G90078109 1.3 Elect Director Robert M. M For For Sprague Transocean Inc. Cayman Islands 5/13/2004 Annual G90078109 1.4 Elect Director J. Michael M For For Talbert Transocean Inc. Cayman Islands 5/13/2004 Annual G90078109 2 APPROVAL OF THE AMENDMENT OF OUR M For For LONG-TERM INCENTIVE PLAN AS DESCRIBED IN THE PROXY STATEMENT. Transocean Inc. Cayman Islands 5/13/2004 Annual G90078109 3 Ratify Auditors M For For SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.1 Elect Director Gregory S. M For For Bentley SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.1 Elect Director Gregory S. M For For Bentley SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.2 Elect Director Michael C. M For For Brooks SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.2 Elect Director Michael C. M For For Brooks SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.3 Elect Director Cristobal Conde M For For SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.3 Elect Director Cristobal Conde M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.4 Elect Director Ramon de M For For Oliveira SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.4 Elect Director Ramon de M For For Oliveira SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.5 Elect Director Henry C. Duques M For For SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.5 Elect Director Henry C. Duques M For For SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.6 Elect Director Albert A. M For For Eisenstat SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.6 Elect Director Albert A. M For For Eisenstat SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.7 Elect Director Bernard M For For Goldstein SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.7 Elect Director Bernard M For For Goldstein SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.8 Elect Director Janet Brutschea M For For Haugen SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.8 Elect Director Janet Brutschea Haugen M For For SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.9 Elect Director James L. Mann M For For SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.9 Elect Director James L. Mann M For For SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.1 Elect Director Malcolm I. M For For Ruddock SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 1.1 Elect Director Malcolm I. M For For Ruddock SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 2 Ratify Auditors M For For SunGard Data Systems Inc. USA 5/14/2004 Annual 867363103 2 Ratify Auditors M For For Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 1 APPROVAL OF CERTAIN REPORTS AND M For For OF THE PARENT COMPANY S FINANCIAL STATEMENTS Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 2 APPROVAL OF CONSOLIDATED M For For FINANCIAL STATEMENTS Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 3 ALLOCATION OF INCOME, APPROVAL M For For OF THE DIVIDEND Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 4 AGREEMENTS MENTIONED IN ARTICLE M For For L. 225-38 OF THE FRENCH COMMERCIAL CODE Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 5 AUTHORIZATION TO TRADE THE M For For COMPANY S OWN SHARES Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 6 AUTHORIZATION FOR THE BOARD OF M For For DIRECTORS TO ISSUE DEBT SECURITIES AND/OR PERPETUAL SUBORDINATED NOTES FOR A MAXIMUM NOMINAL AMOUNT OF 10 BILLION EUROS Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 7.1 Elect Director Mr. Thierry M For For Desmarest Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 7.2 Elect Director Mr. Thierry De M For For Rudder Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 7.3 Elect Director Mr. Serge M For For Tchuruk Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 8 APPOINTMENT OF DANIEL BOEUF AS A M For For DIRECTOR REPRESENTING EMPLOYEE SHAREHOLDERS IN APPLICATION OF ARTICLE 11 OF THE ARTICLES OF INCORPORATION Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 9 APPOINTMENT OF PHILIPPE M Against Against MARCHANDISE AS A DIRECTOR REPRESENTING EMPLOYEE SHAREHOLDERS IN APPLICATION OF ARTICLE 11 OF THE ARTICLES OF INCORPORATION Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 10 APPOINTMENT OF CYRIL MOUCHE AS A M Against Against DIRECTOR REPRESENTING EMPLOYEE SHAREHOLDERS IN APPLICATION OF ARTICLE 11 OF THE ARTICLES OF INCORPORATION Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 11 APPOINTMENT OF ALAN CRAMER AS A M Against Against DIRECTOR REPRESENTING EMPLOYEE SHAREHOLDERS IN APPLICATION OF ARTICLE 11 OF THE ARTICLES OF INCORPORATION Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 12 Ratify Auditors M For For Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 13 RENEWAL OF STATUTORY AUDITORS M For For Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 14 Ratify Auditors M For For Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 15 Ratify Auditors M For For Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 16 DETERMINATION OF THE TOTAL M For For AMOUNT OF DIRECTORS COMPENSATION Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 17 AUTHORIZATION TO AWARD OPTIONS M For For TO SUBSCRIBE FOR OR PURCHASE STOCK OF THE COMPANY IN FAVOUR OF THE MANAGEMENT AND KEY EMPLOYEES OF THE GROUP Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 18 AUTHORIZATION FOR ISSUING M For For CONVERTIBLE OR OTHER EQUITY SECURITIES Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 19 AUTHORIZATION TO USE THE ABOVE M For For DELEGATION WITHOUT MAINTENANCE OF PREFERENTIAL SUBSCRIPTION RIGHTS, BUT WITH AN OPTION TO GRANT A PRIORITY PERIOD Total S.A. (Formerly Total Fina Elf S.A ) France 5/14/2004 Annual 8.92E+113 20 CAPITAL INCREASE RESERVED FOR M For For EMPLOYEES GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc ) United Kingdom 5/17/2004 Annual 37733W105 1 TO RECEIVE AND ADOPT THE M For For DIRECTORS REPORT AND THE FINANCIAL STATEMENTS (ORDINARY RESOLUTION) Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc ) United Kingdom 5/17/2004 Annual 37733W105 2 TO APPROVE THE REMUNERATION M For For REPORT (ORDINARY RESOLUTION) GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc ) United Kingdom 5/17/2004 Annual 37733W105 3 TO ELECT MR H LAWRENCE CULP AS A M For For DIRECTOR (ORDINARY RESOLUTION) GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc ) United Kingdom 5/17/2004 Annual 37733W105 4 TO ELECT MR CRISPIN DAVIS AS A M For For DIRECTOR (ORDINARY RESOLUTION) GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc ) United Kingdom 5/17/2004 Annual 37733W105 5 TO ELECT SIR ROBERT WILSON AS A M For For DIRECTOR (ORDINARY RESOLUTION) GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc ) United Kingdom 5/17/2004 Annual 37733W105 6 TO ELECT DR TACHI YAMADA AS A M For For DIRECTOR (ORDINARY RESOLUTION) GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc ) United Kingdom 5/17/2004 Annual 37733W105 7 TO RE-ELECT SIR CHRISTOPHER HOGG M For For AS A DIRECTOR (ORDINARY RESOLUTION) GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc ) United Kingdom 5/17/2004 Annual 37733W105 8 Ratify Auditors M For For GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc ) United Kingdom 5/17/2004 Annual 37733W105 9 REMUNERATION OF AUDITORS M For For (ORDINARY RESOLUTION) GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc ) United Kingdom 5/17/2004 Annual 37733W105 10 AUTHORISE THE COMPANY TO MAKE M For For DONATIONS TO EU POLITICAL ORGAN- ISATIONS AND INCUR EU POLITICAL EXPENDITURE (SPECIAL BUSINESS) GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc ) United Kingdom 5/17/2004 Annual 37733W105 11 DISAPPLICATION OF PRE-EMPTION M For For RIGHTS (SPECIAL RESOLUTION) GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc ) United Kingdom 5/17/2004 Annual 37733W105 12 AUTHORITY FOR THE COMPANY TO M For For PURCHASE ITS OWN SHARES (SPECIAL RESOLUTION) Principal Financial Group, Inc. USA 5/18/2004 Annual 74251V102 1.1 Elect Director David J. Drury M For For Principal Financial Group, Inc. USA 5/18/2004 Annual 74251V102 1.2 Elect Director C. Daniel Gelatt M For For Principal Financial Group, Inc. USA 5/18/2004 Annual 74251V102 1.3 Elect Director Sandra L. Helton M For For Principal Financial Group, Inc. USA 5/18/2004 Annual 74251V102 1.4 Elect Director Federico F. Pena M For For Principal Financial Group, Inc. USA 5/18/2004 Annual 74251V102 2 Ratify Auditors M For For Principal Financial Group, Inc. USA 5/18/2004 Annual 74251V102 3 Approve Executive Incentive M For For Bonus Plan Diamond Offshore Drilling, Inc. USA 5/18/2004 Annual 25271C102 1.1 Elect Director James S. Tisch M For Withhold Diamond Offshore Drilling, Inc. USA 5/18/2004 Annual 25271C102 1.2 Elect Director Lawrence R. M For Withhold Dickerson Diamond Offshore Drilling, Inc. USA 5/18/2004 Annual 25271C102 1.3 Elect Director Alan R. Batkin M For For Diamond Offshore Drilling, Inc. USA 5/18/2004 Annual 25271C102 1.4 Elect Director Charles L. M For For Fabrikant Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Diamond Offshore Drilling, Inc. USA 5/18/2004 Annual 25271C102 1.5 Elect Director Herbert C. M For Withhold Hofmann Diamond Offshore Drilling, Inc. USA 5/18/2004 Annual 25271C102 1.6 Elect Director Arthur L. Rebell M For Withhold Diamond Offshore Drilling, Inc. USA 5/18/2004 Annual 25271C102 1.7 Elect Director Raymond S. M For For Troubh Diamond Offshore Drilling, Inc. USA 5/18/2004 Annual 25271C102 2 Amend Stock Option Plan M For For Diamond Offshore Drilling, Inc. USA 5/18/2004 Annual 25271C102 3 Ratify Auditors M For For FirstEnergy Corporation USA 5/18/2004 Annual 337932107 1.1 Elect Director Paul T. Addison M For For FirstEnergy Corporation USA 5/18/2004 Annual 337932107 1.1 Elect Director Paul T. Addison M For For FirstEnergy Corporation USA 5/18/2004 Annual 337932107 1.2 Elect Director Ernest J. Novak, M For For Jr. FirstEnergy Corporation USA 5/18/2004 Annual 337932107 1.2 Elect Director Ernest J. Novak, M For For Jr. FirstEnergy Corporation USA 5/18/2004 Annual 337932107 1.3 Elect Director John M. M For For Pietruski FirstEnergy Corporation USA 5/18/2004 Annual 337932107 1.3 Elect Director John M. M For For Pietruski FirstEnergy Corporation USA 5/18/2004 Annual 337932107 1.4 Elect Director Catherine A. M For For Rein FirstEnergy Corporation USA 5/18/2004 Annual 337932107 1.4 Elect Director Catherine A. M For For Rein FirstEnergy Corporation USA 5/18/2004 Annual 337932107 1.5 Elect Director Robert C. Savage M For For FirstEnergy Corporation USA 5/18/2004 Annual 337932107 1.5 Elect Director Robert C. Savage M For For FirstEnergy Corporation USA 5/18/2004 Annual 337932107 2 Ratify Auditors M For For FirstEnergy Corporation USA 5/18/2004 Annual 337932107 2 Ratify Auditors M For For FirstEnergy Corporation USA 5/18/2004 Annual 337932107 3 Declassify the Board of M For For Directors FirstEnergy Corporation USA 5/18/2004 Annual 337932107 3 Declassify the Board of M For For Directors FirstEnergy Corporation USA 5/18/2004 Annual 337932107 4 Reduce Supermajority Vote M For For Requirement FirstEnergy Corporation USA 5/18/2004 Annual 337932107 4 Reduce Supermajority Vote M For For Requirement FirstEnergy Corporation USA 5/18/2004 Annual 337932107 5 Approve Deferred Compensation M For For Plan FirstEnergy Corporation USA 5/18/2004 Annual 337932107 5 Approve Deferred Compensation M For For Plan FirstEnergy Corporation USA 5/18/2004 Annual 337932107 6 Approve Deferred Compensation M For For Plan FirstEnergy Corporation USA 5/18/2004 Annual 337932107 6 Approve Deferred Compensation M For For Plan FirstEnergy Corporation USA 5/18/2004 Annual 337932107 7 Expense Stock Options S Against For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ FirstEnergy Corporation USA 5/18/2004 Annual 337932107 7 Expense Stock Options S Against For FirstEnergy Corporation USA 5/18/2004 Annual 337932107 8 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote FirstEnergy Corporation USA 5/18/2004 Annual 337932107 8 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote FirstEnergy Corporation USA 5/18/2004 Annual 337932107 9 Report on Political S Against Against Contributions/Activities FirstEnergy Corporation USA 5/18/2004 Annual 337932107 9 Report on Political S Against Against Contributions/Activities FirstEnergy Corporation USA 5/18/2004 Annual 337932107 10 Submit Severance Agreement S Against For (Change-in-Control) to Shareholder Vote FirstEnergy Corporation USA 5/18/2004 Annual 337932107 10 Submit Severance Agreement S Against For (Change-in-Control) to Shareholder Vote The Allstate Corp. USA 5/18/2004 Annual 20002101 1.1 Elect Director F. Duane M For For Ackerman The Allstate Corp. USA 5/18/2004 Annual 20002101 1.2 Elect Director James G. Andress M For For The Allstate Corp. USA 5/18/2004 Annual 20002101 1.3 Elect Director Edward A. M For For Brennan The Allstate Corp. USA 5/18/2004 Annual 20002101 1.4 Elect Director W. James Farrell M For For The Allstate Corp. USA 5/18/2004 Annual 20002101 1.5 Elect Director Jack M. M For For Greenberg The Allstate Corp. USA 5/18/2004 Annual 20002101 1.6 Elect Director Ronald T. LeMay M For For The Allstate Corp. USA 5/18/2004 Annual 20002101 1.7 Elect Director Edward M. Liddy M For For The Allstate Corp. USA 5/18/2004 Annual 20002101 1.8 Elect Director J. Christopher M For For Reyes The Allstate Corp. USA 5/18/2004 Annual 20002101 1.9 Elect Director H. John Riley, M For For Jr. The Allstate Corp. USA 5/18/2004 Annual 20002101 1.1 Elect Director Joshua I. Smith M For For The Allstate Corp. USA 5/18/2004 Annual 20002101 1.11 Elect Director Judith A. M For For Sprieser The Allstate Corp. USA 5/18/2004 Annual 20002101 1.12 Elect Director Mary Alice M For For Taylor The Allstate Corp. USA 5/18/2004 Annual 20002101 2 Ratify Auditors M For For The Allstate Corp. USA 5/18/2004 Annual 20002101 3 Amend Executive Incentive Bonus M For For Plan The Allstate Corp. USA 5/18/2004 Annual 20002101 4 Amend Executive Incentive Bonus M For For Plan The Allstate Corp. USA 5/18/2004 Annual 20002101 5 Provide for Cumulative Voting S Against Against Intel Corp. USA 5/19/2004 Annual 458140100 1.1 Elect Director Craig R. Barrett M For For Intel Corp. USA 5/19/2004 Annual 458140100 1.2 Elect Director Charlene M For For Barshefsky Intel Corp. USA 5/19/2004 Annual 458140100 1.3 Elect Director E. John P. M For For Browne Intel Corp. USA 5/19/2004 Annual 458140100 1.4 Elect Director Andrew S. Grove M For For Intel Corp. USA 5/19/2004 Annual 458140100 1.5 Elect Director D. James Guzy M For For Intel Corp. USA 5/19/2004 Annual 458140100 1.6 Elect Director Reed E. Hundt M For For Intel Corp. USA 5/19/2004 Annual 458140100 1.7 Elect Director Paul S. Otellini M For For Intel Corp. USA 5/19/2004 Annual 458140100 1.8 Elect Director David S. M For For Pottruck Intel Corp. USA 5/19/2004 Annual 458140100 1.9 Elect Director Jane E. Shaw M For For Intel Corp. USA 5/19/2004 Annual 458140100 1.1 Elect Director John L. Thornton M For For Intel Corp. USA 5/19/2004 Annual 458140100 1.11 Elect Director David B. Yoffie M For For Intel Corp. USA 5/19/2004 Annual 458140100 2 Ratify Auditors M For For Intel Corp. USA 5/19/2004 Annual 458140100 3 Approve Omnibus Stock Plan M For For Intel Corp. USA 5/19/2004 Annual 458140100 4 Expense Stock Options S Against For Intel Corp. USA 5/19/2004 Annual 458140100 5 Limit/Prohibit Awards to S Against Against Executives Intel Corp. USA 5/19/2004 Annual 458140100 6 Performance- Based/Indexed S Against Against Options Halliburton Co. USA 5/19/2004 Annual 406216101 1.1 Elect Director Robert L. M For For Crandall Halliburton Co. USA 5/19/2004 Annual 406216101 1.2 Elect Director Kenneth T. Derr M For For Halliburton Co. USA 5/19/2004 Annual 406216101 1.3 Elect Director Charles J. M For For DiBona Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Halliburton Co. USA 5/19/2004 Annual 406216101 1.4 Elect Director W. R. Howell M For For Halliburton Co. USA 5/19/2004 Annual 406216101 1.5 Elect Director Ray L. Hunt M For For Halliburton Co. USA 5/19/2004 Annual 406216101 1.6 Elect Director David J. Lesar M For For Halliburton Co. USA 5/19/2004 Annual 406216101 1.7 Elect Director Aylwin B. Lewis M For For Halliburton Co. USA 5/19/2004 Annual 406216101 1.8 Elect Director J. Landis Martin M For For Halliburton Co. USA 5/19/2004 Annual 406216101 1.9 Elect Director Jay A. Precourt M For For Halliburton Co. USA 5/19/2004 Annual 406216101 1.1 Elect Director Debra L. Reed M For For Halliburton Co. USA 5/19/2004 Annual 406216101 1.11 Elect Director C. J. Silas M For For Halliburton Co. USA 5/19/2004 Annual 406216101 2 Increase Authorized Common Stock M For For Halliburton Co. USA 5/19/2004 Annual 406216101 3 Review/Report on Operations in S Against Against Iran Halliburton Co. USA 5/19/2004 Annual 406216101 4 Require Affirmative Vote of a S Against Against Majority of the Shares to Elect Directors Halliburton Co. USA 5/19/2004 Annual 406216101 5 Separate Chairman and CEO S Against Against Positions Jones Apparel Group, Inc. USA 5/19/2004 Annual 480074103 1.1 Elect Director Peter Boneparth M For For Jones Apparel Group, Inc. USA 5/19/2004 Annual 480074103 1.2 Elect Director Sidney Kimmel M For For Jones Apparel Group, Inc. USA 5/19/2004 Annual 480074103 1.3 Elect Director Geraldine Stutz M For For Jones Apparel Group, Inc. USA 5/19/2004 Annual 480074103 1.4 Elect Director Howard Gittis M For For Jones Apparel Group, Inc. USA 5/19/2004 Annual 480074103 1.5 Elect Director Anthony F. M For For Scarpa Jones Apparel Group, Inc. USA 5/19/2004 Annual 480074103 1.6 Elect Director Matthew H. M For For Kamens Jones Apparel Group, Inc. USA 5/19/2004 Annual 480074103 1.7 Elect Director Michael L. M For For Tarnopol Jones Apparel Group, Inc. USA 5/19/2004 Annual 480074103 1.8 Elect Director J. Robert Kerrey M For For Jones Apparel Group, Inc. USA 5/19/2004 Annual 480074103 1.9 Elect Director Ann N. Reese M For For Jones Apparel Group, Inc. USA 5/19/2004 Annual 480074103 2 Ratify Auditors M For For Jones Apparel Group, Inc. USA 5/19/2004 Annual 480074103 3 Amend Omnibus Stock Plan M For For McDonald's Corp. USA 5/20/2004 Annual 580135101 1.1 Elect Director Edward A. M For For Brennan McDonald's Corp. USA 5/20/2004 Annual 580135101 1.2 Elect Director Walter E. Massey M For For McDonald's Corp. USA 5/20/2004 Annual 580135101 1.3 Elect Director John W. Rogers, Jr. M For For McDonald's Corp. USA 5/20/2004 Annual 580135101 1.4 Elect Director Anne-Marie Slaughter M For For McDonald's Corp. USA 5/20/2004 Annual 580135101 1.5 Elect Director Roger W. Stone M For For McDonald's Corp. USA 5/20/2004 Annual 580135101 2 Ratify Auditors M For For McDonald's Corp. USA 5/20/2004 Annual 580135101 3 Amend Omnibus Stock Plan M For For McDonald's Corp. USA 5/20/2004 Annual 580135101 4 Approve/Amend Executive Incentive Bonus Plan M For For TXU Corp. USA 5/21/2004 Annual 873168108 1.1 Elect Director Derek C. Bonham M For For TXU Corp. USA 5/21/2004 Annual 873168108 1.2 Elect Director E. Gail de M For For Planque TXU Corp. USA 5/21/2004 Annual 873168108 1.3 Elect Director William M. M For For Griffin TXU Corp. USA 5/21/2004 Annual 873168108 1.4 Elect Director Kerney Laday M For For TXU Corp. USA 5/21/2004 Annual 873168108 1.5 Elect Director Jack E. Little M For For TXU Corp. USA 5/21/2004 Annual 873168108 1.6 Elect Director Erle Nye M For For TXU Corp. USA 5/21/2004 Annual 873168108 1.7 Elect Director J.E. M For For Oesterreicher TXU Corp. USA 5/21/2004 Annual 873168108 1.8 Elect Director Michael W. M For For Ranger TXU Corp. USA 5/21/2004 Annual 873168108 1.9 Elect Director Herbert H. M For For Richardson TXU Corp. USA 5/21/2004 Annual 873168108 1.1 Elect Director C. John Wilder M For For TXU Corp. USA 5/21/2004 Annual 873168108 2 Ratify Auditors M For For TXU Corp. USA 5/21/2004 Annual 873168108 3 Limit Executive Compensation S Against Against Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Constellation Energy Group, Inc. USA 5/21/2004 Annual 210371100 1.1 Elect Director James T. Brady M For For Constellation Energy Group, Inc. USA 5/21/2004 Annual 210371100 1.2 Elect Director James R. Curtiss M For For Constellation Energy Group, Inc. USA 5/21/2004 Annual 210371100 1.3 Elect Director Edward J. Kelly, M For For III Constellation Energy Group, Inc. USA 5/21/2004 Annual 210371100 1.4 Elect Director Robert J. M For For Lawless Constellation Energy Group, Inc. USA 5/21/2004 Annual 210371100 2 Ratify Auditors M For For The May Department Stores Co. USA 5/21/2004 Annual 577778103 1.1 Elect Director Eugene S. Kahn M For For The May Department Stores Co. USA 5/21/2004 Annual 577778103 1.2 Elect Director Helene L. Kaplan M For For The May Department Stores Co. USA 5/21/2004 Annual 577778103 1.3 Elect Director James M. Kilts M For For The May Department Stores Co. USA 5/21/2004 Annual 577778103 1.4 Elect Director Russell E. Palmer M For For The May Department Stores Co. USA 5/21/2004 Annual 577778103 1.5 Elect Director William P. M For For Stiritz The May Department Stores Co. USA 5/21/2004 Annual 577778103 2 Ratify Auditors M For For The May Department Stores Co. USA 5/21/2004 Annual 577778103 3 Amend Executive Incentive Bonus M For For Plan The May Department Stores Co. USA 5/21/2004 Annual 577778103 4 Amend Omnibus Stock Plan M For For The May Department Stores Co. USA 5/21/2004 Annual 577778103 5 Declassify the Board of S Against Against Directors Federated Department Stores, Inc. USA 5/21/2004 Annual 31410H101 1.1 Elect Director Sara Levinson M For For Federated Department Stores, Inc. USA 5/21/2004 Annual 31410H101 1.2 Elect Director Joseph Neubauer M For For Federated Department Stores, Inc. USA 5/21/2004 Annual 31410H101 1.3 Elect Director Joseph A. M For For Pichler Federated Department Stores, Inc. USA 5/21/2004 Annual 31410H101 1.4 Elect Director Karl M. von der M For For Heyden Federated Department Stores, Inc. USA 5/21/2004 Annual 31410H101 2 Ratify Auditors M For For Federated Department Stores, Inc. USA 5/21/2004 Annual 31410H101 3 Amend Omnibus Stock Plan M For For Federated Department Stores, Inc. USA 5/21/2004 Annual 31410H101 4 Declassify the Board of S Against Against Directors JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 1 Approve Merger Agreement M For For JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 2.1 Elect Director Hans W. Becherer M For For JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 2.2 Elect Director Frank A. M For For Bennack, Jr. JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 2.3 Elect Director John H. Biggs M For For JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 2.4 Elect Director Lawrence A. M For For Bossidy JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 2.5 Elect Director Ellen V. Futter M For For JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 2.6 Elect Director William H. M For For Gray, III JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 2.7 Elect Director William B. M For For Harrison, Jr JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 2.8 Elect Director Helene L. Kaplan M For For JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 2.9 Elect Director Lee R. Raymond M For For JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 2.1 Elect Director John R. Stafford M For For JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 3 Ratify Auditors M For For JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 4 Amend Executive Incentive Bonus M For For Plan Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 5 Adjourn Meeting M For Against JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 6 Establish Term Limits for S Against Against Directors JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 7 Charitable Contributions S Against Against JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 8 Political Contributions S Against Against JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 9 Separate Chairman and CEO S Against Against Positions JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 10 Provide Adequate Disclosure for over the counter Derivatives S Against Against JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 11 Auditor Independence S Against Against JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 12 Submit Non-Employee Director S Against Against Compensation to Vote JP Morgan Chase & Co. USA 5/25/2004 Annual 46625H100 13 Report on Pay Disparity S Against Against Fannie Mae USA 5/25/2004 Annual 313586109 1.1 Elect Director Stephen B. M For For Ashley Fannie Mae USA 5/25/2004 Annual 313586109 1.2 Elect Director Kenneth M. M For For Duberstein Fannie Mae USA 5/25/2004 Annual 313586109 1.3 Elect Director Thomas P. M For For Gerrity Fannie Mae USA 5/25/2004 Annual 313586109 1.4 Elect Director Timothy Howard M For For Fannie Mae USA 5/25/2004 Annual 313586109 1.5 Elect Director Ann Korologos M For For Fannie Mae USA 5/25/2004 Annual 313586109 1.6 Elect Director Frederic V. M For For Malek Fannie Mae USA 5/25/2004 Annual 313586109 1.7 Elect Director Donald B. Marron M For For Fannie Mae USA 5/25/2004 Annual 313586109 1.8 Elect Director Daniel H. Mudd M For For Fannie Mae USA 5/25/2004 Annual 313586109 1.9 Elect Director Anne M. Mulcahy M For For Fannie Mae USA 5/25/2004 Annual 313586109 1.1 Elect Director Joe K. Pickett M For For Fannie Mae USA 5/25/2004 Annual 313586109 1.11 Elect Director Leslie Rahl M For For Fannie Mae USA 5/25/2004 Annual 313586109 1.12 Elect Director Franklin D. M For For Raines Fannie Mae USA 5/25/2004 Annual 313586109 1.13 Elect Director H. Patrick M For For Swygert Fannie Mae USA 5/25/2004 Annual 313586109 2 Ratify Auditors M For For Fannie Mae USA 5/25/2004 Annual 313586109 3 Amend Employee Stock Purchase M For For Plan Fannie Mae USA 5/25/2004 Annual 313586109 4 Provide for Cumulative Voting S Against Against Bank of America Corp. USA 5/26/2004 Annual 60505104 1.1 Elect Director William Barnet, M For For III Bank of America Corp. USA 5/26/2004 Annual 60505104 1.2 Elect Director Charles W. Coker M For For Bank of America Corp. USA 5/26/2004 Annual 60505104 1.3 Elect Director John T. Collins M For For Bank of America Corp. USA 5/26/2004 Annual 60505104 1.4 Elect Director Gary L. Countryman M For For Bank of America Corp. USA 5/26/2004 Annual 60505104 1.5 Elect Director Paul Fulton M For For Bank of America Corp. USA 5/26/2004 Annual 60505104 1.6 Elect Director Charles K. M For For Gifford Bank of America Corp. USA 5/26/2004 Annual 60505104 1.7 Elect Director Donald E. M For For Guinn Bank of America Corp. USA 5/26/2004 Annual 60505104 1.8 Elect Director James H. Hance, M For For Jr. Bank of America Corp. USA 5/26/2004 Annual 60505104 1.9 Elect Director Kenneth D. Lewis M For For Bank of America Corp. USA 5/26/2004 Annual 60505104 1.1 Elect Director Walter E. Massey M For For Bank of America Corp. USA 5/26/2004 Annual 60505104 1.11 Elect Director Thomas J. May M For For Bank of America Corp. USA 5/26/2004 Annual 60505104 1.12 Elect Director C. Steven M For For McMillan Bank of America Corp. USA 5/26/2004 Annual 60505104 1.13 Elect Director Eugene M. M For For McQuade Bank of America Corp. USA 5/26/2004 Annual 60505104 1.14 Elect Director Patricia E. M For For Mitchell Bank of America Corp. USA 5/26/2004 Annual 60505104 1.15 Elect Director Edward L. Romero M For For Bank of America Corp. USA 5/26/2004 Annual 60505104 1.16 Elect Director Thomas M. Ryan M For For Bank of America Corp. USA 5/26/2004 Annual 60505104 1.17 Elect Director O. Temple Sloan, M For For Jr. Bank of America Corp. USA 5/26/2004 Annual 60505104 1.18 Elect Director Meredith R. M For For Spangler Bank of America Corp. USA 5/26/2004 Annual 60505104 1.19 Elect Director Jackie M. Ward M For For Bank of America Corp. USA 5/26/2004 Annual 60505104 2 Ratify Auditors M For For Bank of America Corp. USA 5/26/2004 Annual 60505104 3 Change Date of Annual Meeting S Against Against Bank of America Corp. USA 5/26/2004 Annual 60505104 4 Adopt Nomination Procedures for S Against Against the Board Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Bank of America Corp. USA 5/26/2004 Annual 60505104 5 Charitable Contributions S Against Against Bank of America Corp. USA 5/26/2004 Annual 60505104 6 Establish Independent Committee S Against Against to Review Mutual Fund Policy Bank of America Corp. USA 5/26/2004 Annual 60505104 7 Adopt Standards Regarding S Against Against Privacy and Information Security Credence Systems Corp. USA 5/27/2004 Special 225302108 1 Approve Merger Agreement M For For RenaissanceRe Holdings Ltd. Bermuda 5/28/2004 Annual G7496G103 1.1 Elect Director William F. Hecht M For For RenaissanceRe Holdings Ltd. Bermuda 5/28/2004 Annual G7496G103 1.2 Elect Director William I. Rike M For For RenaissanceRe Holdings Ltd. Bermuda 5/28/2004 Annual G7496G103 1.3 Elect Director Nicholas L. M For For Trivisonno RenaissanceRe Holdings Ltd. Bermuda 5/28/2004 Annual G7496G103 2 Ratify Auditors M For For General Motors Corp. USA 6/2/2004 Annual 370442105 1.1 Elect Director Percy N. M For For Barnevik General Motors Corp. USA 6/2/2004 Annual 370442105 1.2 Elect Director John H. Bryan M For For General Motors Corp. USA 6/2/2004 Annual 370442105 1.3 Elect Director Armando M. M For For Codina General Motors Corp. USA 6/2/2004 Annual 370442105 1.4 Elect Director George M.C. M For For Fisher General Motors Corp. USA 6/2/2004 Annual 370442105 1.5 Elect Director Karen Katen M For For General Motors Corp. USA 6/2/2004 Annual 370442105 1.6 Elect Director Kent Kresa M For For General Motors Corp. USA 6/2/2004 Annual 370442105 1.7 Elect Director Alan G. Lafley M For For General Motors Corp. USA 6/2/2004 Annual 370442105 1.8 Elect Director Philip A. M For For Laskawy General Motors Corp. USA 6/2/2004 Annual 370442105 1.9 Elect Director E.Stanley O'Neal M For For General Motors Corp. USA 6/2/2004 Annual 370442105 1.1 Elect Director Eckhard Pfeiffer M For For General Motors Corp. USA 6/2/2004 Annual 370442105 1.11 Elect Director G.Richard M For For Wagoner, Jr. General Motors Corp. USA 6/2/2004 Annual 370442105 2 Ratify Auditors M For For General Motors Corp. USA 6/2/2004 Annual 370442105 3 Prohibit Awards to Executives S Against Against General Motors Corp. USA 6/2/2004 Annual 370442105 4 Prohibit Awards to Executives S Against Against General Motors Corp. USA 6/2/2004 Annual 370442105 5 Separate Chairman and CEO S Against Against Positions General Motors Corp. USA 6/2/2004 Annual 370442105 6 Limit Composition of Committees S Against Against to Independent Directors General Motors Corp. USA 6/2/2004 Annual 370442105 7 Report on Greenhouse Gas S Against Against Emissions General Motors Corp. USA 6/2/2004 Annual 370442105 8 Submit Severance Agreement S Against For (Change-in-Control) to Shareholder Vote General Motors Corp. USA 6/2/2004 Annual 370442105 9 Establish Executive and Director S Against Against Stock Ownership Guidelines CENTERPOINT ENERGY INC USA 6/3/2004 Annual 15189T107 1.1 Elect Director Robert T. M For For O'Connell CENTERPOINT ENERGY INC USA 6/3/2004 Annual 15189T107 1.2 Elect Director Milton Carroll M For For CENTERPOINT ENERGY INC USA 6/3/2004 Annual 15189T107 1.3 Elect Director John T. Cater M For For CENTERPOINT ENERGY INC USA 6/3/2004 Annual 15189T107 1.4 Elect Director Michael E. M For For Shannon CENTERPOINT ENERGY INC USA 6/3/2004 Annual 15189T107 2 Ratify Auditors M For For CENTERPOINT ENERGY INC USA 6/3/2004 Annual 15189T107 3 Limit Awards to Executives S Against Against CENTERPOINT ENERGY INC USA 6/3/2004 Annual 15189T107 4 Declassify the Board of S Against Against Directors CENTERPOINT ENERGY INC USA 6/3/2004 Annual 15189T107 5 Other Business M For Against GLOBAL SANTA FE CORP. (formerly Santa Fe Cayman International Corp) Islands 6/9/2004 Annual G3930E101 NULL NULL S NULL NULL Liberty Media Corp. USA 6/9/2004 Annual 530718105 1.1 Elect Director Robert R. M For For Bennett Liberty Media Corp. USA 6/9/2004 Annual 530718105 1.2 Elect Director Paul A. Gould M For For Liberty Media Corp. USA 6/9/2004 Annual 530718105 1.3 Elect Director John C. Malone M For For Liberty Media Corp. USA 6/9/2004 Annual 530718105 2 Amend Executive Incentive Bonus M For For Plan Liberty Media Corp. USA 6/9/2004 Annual 530718105 3 Ratify Auditors M For For Comverse Technology, Inc. USA 6/15/2004 Annual 205862402 1.1 Elect Director Kobi Alexander M For For Comverse Technology, Inc. USA 6/15/2004 Annual 205862402 1.2 Elect Director Raz Alon M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Comverse Technology, Inc. USA 6/15/2004 Annual 205862402 1.3 Elect Director Itsik Danziger M For For Comverse Technology, Inc. USA 6/15/2004 Annual 205862402 1.4 Elect Director John H. Friedman M For For Comverse Technology, Inc. USA 6/15/2004 Annual 205862402 1.5 Elect Director Ron Hiram M For For Comverse Technology, Inc. USA 6/15/2004 Annual 205862402 1.6 Elect Director Sam Oolie M For For Comverse Technology, Inc. USA 6/15/2004 Annual 205862402 1.7 Elect Director William F. Sorin M For For Comverse Technology, Inc. USA 6/15/2004 Annual 205862402 2 Approve Omnibus Stock Plan M For For Comverse Technology, Inc. USA 6/15/2004 Annual 205862402 3 Ratify Auditors M For For The Kroger Co. USA 6/24/2004 Annual 501044101 1.1 Elect Director John L. M For For Clendenin The Kroger Co. USA 6/24/2004 Annual 501044101 1.2 Elect Director David B. Dillon M For For The Kroger Co. USA 6/24/2004 Annual 501044101 1.3 Elect Director David B. Lewis M For For The Kroger Co. USA 6/24/2004 Annual 501044101 1.4 Elect Director Don W. McGeorge M For For The Kroger Co. USA 6/24/2004 Annual 501044101 1.5 Elect Director W. Rodney M For For McMullen The Kroger Co. USA 6/24/2004 Annual 501044101 1.6 Elect Director Susan M. M For For Phillips The Kroger Co. USA 6/24/2004 Annual 501044101 2 Ratify Auditors M For For The Kroger Co. USA 6/24/2004 Annual 501044101 3 Declassify the Board of S Against Against Directors The Kroger Co. USA 6/24/2004 Annual 501044101 4 Separate Chairman and CEO S Against Against Positions The Kroger Co. USA 6/24/2004 Annual 501044101 5 Submit Severance Agreement S Against Against (Change-in-Control) to Shareholder Vote Royal Dutch Petroleum Co. Netherlands 6/28/2004 Annual 780257804 1 FINALIZATION OF THE BALANCE M For For SHEET AS AT DECEMBER 31, 2003, THE PROFIT AND LOSS ACCOUNT FOR THE YEAR 2003 AND THE NOTES TO THE BALANCE SHEET AND THE PROFIT AND LOSS ACCOUNT. Royal Dutch Petroleum Co. Netherlands 6/28/2004 Annual 780257804 2 DECLARATION OF THE TOTAL M For For DIVIDEND FOR THE YEAR 2003. Royal Dutch Petroleum Co. Netherlands 6/28/2004 Annual 780257804 3 DISCHARGE OF THE MANAGING M For Against DIRECTORS OF RESPONSIBILITY IN RESPECT OF THEIR MANAGEMENT FOR THE YEAR 2003. Royal Dutch Petroleum Co. Netherlands 6/28/2004 Annual 780257804 4 DISCHARGE OF THE MEMBERS OF THE M For Against SUPERVISORY BOARD OF RESPONSIBILITY FOR THEIR SUPERVISION FOR THE YEAR 2003. Royal Dutch Petroleum Co. Netherlands 6/28/2004 Annual 780257804 5 APPOINTMENT OF MS. L.Z. COOK AS M For For A MANAGING DIRECTOR OF THE COMPANY.* Royal Dutch Petroleum Co. Netherlands 6/28/2004 Annual 780257804 6 APPOINTMENT OF MRS. CH. MORIN- M For For POSTEL AS A MEMBER OF THE SUPERVISORY BOARD.* Royal Dutch Petroleum Co. Netherlands 6/28/2004 Annual 780257804 7 APPOINTMENT OF MR. M.A. VAN DEN M For For BERGH AS A MEMBER OF THE SUPERVISORY BOARD OWING TO RETIREMENT BY ROTATION.* Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Royal Dutch Petroleum Co. Netherlands 6/28/2004 Annual 780257804 8 REDUCTION OF THE ISSUED SHARE M For For CAPITAL WITH A VIEW TO CANCELLATION OF THE SHARES ACQUIRED BY THE COMPANY IN ITS OWN CAPITAL. Royal Dutch Petroleum Co. Netherlands 6/28/2004 Annual 780257804 9 AUTHORIZATION OF THE BOARD OF M For For MANAGEMENT, PURSUANT TO ARTICLE 98, BOOK 2 OF THE NETHERLANDS CIVIL CODE, AS THE COMPETENT BODY TO ACQUIRE SHARES IN THE CAPITAL OF THE COMPANY. Check Point Software Technologies Inc Israel 6/30/2004 Annual M22465104 1 ELECTION OF DIRECTORS (OTHER M For For THAN OUTSIDE DIRECTORS): (NOTE: DIRECTORS ARE ELECTED AS A GROUP, NOT INDIVIDUALLY): GIL SHWED, MARIUS NACHT, DAVID RUBNER, TAL SHAVIT. Check Point Software Technologies Inc Israel 6/30/2004 Annual M22465104 2 TO RATIFY THE CONSOLIDATED M For For FINANCIAL STATEMENTS OF THE COMPANY FOR THE YEAR ENDED DECEMBER 31, 2003. Check Point Software Technologies Inc Israel 6/30/2004 Annual M22465104 3 TO RATIFY THE APPOINTMENT AND M For For COMPENSATION OF THE COMPANY S INDEPENDENT PUBLIC ACCOUNTANTS. Check Point Software Technologies Inc Israel 6/30/2004 Annual M22465104 4 TO APPROVE AMENDMENT TO M For For DIRECTORS COMPENSATION. Check Point Software Technologies Inc Israel 6/30/2004 Annual M22465104 5 TO APPROVE EXECUTIVE OFFICERS M For For COMPENSATION. Sara Lee Corp. USA 2003-10-30 Annual 803111103 1.1 Elect Director J.T. Battenberg M For For III Sara Lee Corp. USA 2003-10-30 Annual 803111103 1.2 Elect Director Charles W. Coker M For For Sara Lee Corp. USA 2003-10-30 Annual 803111103 1.3 Elect Director James S. Crown M For For Sara Lee Corp. USA 2003-10-30 Annual 803111103 1.4 Elect Director Willie D. Davis M For For Sara Lee Corp. USA 2003-10-30 Annual 803111103 1.5 Elect Director Vernon E. Jordan, M For For Jr. Sara Lee Corp. USA 2003-10-30 Annual 803111103 1.6 Elect Director Laurette T. M For For Koellner Sara Lee Corp. USA 2003-10-30 Annual 803111103 1.7 Elect Director Cornelis J.A. M For For Van Lede Sara Lee Corp. USA 2003-10-30 Annual 803111103 1.8 Elect Director Joan D. Manley M For For Sara Lee Corp. USA 2003-10-30 Annual 803111103 1.9 Elect Director Cary D. McMillan M For For Sara Lee Corp. USA 2003-10-30 Annual 803111103 1.10 Elect Director C. Steven M For For McMillan Sara Lee Corp. USA 2003-10-30 Annual 803111103 1.11 Elect Director Rozanne L. M For For Ridgway Sara Lee Corp. USA 2003-10-30 Annual 803111103 1.12 Elect Director Richard L. Thomas M For For Sara Lee Corp. USA 2003-10-30 Annual 803111103 2 Ratify Auditors M For For Sara Lee Corp. USA 2003-10-30 Annual 803111103 3 Report on Charitable S Against Against Contributions Sara Lee Corp. USA 2003-10-30 Annual 803111103 4 Implement and Monitor Code of S Against Against Corporate Conduct - ILO Standards Affiliated Computer Services, Inc. USA 2003-10-30 Annual 008190100 1.1 Elect Director Darwin Deason M For For Affiliated Computer Services, Inc. USA 2003-10-30 Annual 008190100 1.2 Elect Director Jeffrey A. Rich M For For Affiliated Computer Services, Inc. USA 2003-10-30 Annual 008190100 1.3 Elect Director Mark A. King M For For Affiliated Computer Services, Inc. USA 2003-10-30 Annual 008190100 1.4 Elect Director Joseph P. O'Neill M For For Affiliated Computer Services, Inc. USA 2003-10-30 Annual 008190100 1.5 Elect Director Frank A. Rossi M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Affiliated Computer Services, Inc. USA 2003-10-30 Annual 008190100 1.6 Elect Director J. Livingston M For For Kosberg Affiliated Computer Services, Inc. USA 2003-10-30 Annual 008190100 1.7 Elect Director Dennis McCuistion M For For Affiliated Computer Services, Inc. USA 2003-10-30 Annual 008190100 2 Approve Executive Incentive M For For Bonus Plan Affiliated Computer Services, Inc. USA 2003-10-30 Annual 008190100 3 Ratify Auditors M For For JDS Uniphase Corp. USA 2003-11-06 Annual 46612J101 1.1 Elect Director Robert E. Enos M For For JDS Uniphase Corp. USA 2003-11-06 Annual 46612J101 1.2 Elect Director Peter A. M For For Guglielmi JDS Uniphase Corp. USA 2003-11-06 Annual 46612J101 2 Approve Omnibus Stock Plan M For For JDS Uniphase Corp. USA 2003-11-06 Annual 46612J101 3 Ratify Auditors M For For Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 1.1 Elect Director Carol A. Bartz M For For Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 1.2 Elect Director Larry R. Carter M For For Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 1.3 Elect Director John T. Chambers M For For Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 1.4 Elect Director Dr. James F. M For For Gibbons Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 1.5 Elect Director Dr. John L. M For For Hennessy Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 1.6 Elect Director Roderick C. M For For McGeary Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 1.7 Elect Director James C. Morgan M For For Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 1.8 Elect Director John P. Morgridge M For For Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 1.9 Elect Director Donald T. M For For Valentine Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 1.10 Elect Director Steven M. West M For For Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 1.11 Elect Director Jerry Yang M For For Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 2 Amend Employee Stock Purchase M For For Plan Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 3 Ratify Auditors M For For Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 4 Report on Company Products Used S Against Against by the Government to Monitor the Internet Cisco Systems, Inc. USA 2003-11-11 Annual 17275R102 5 Report on Pay Disparity S Against Against Microsoft Corp. USA 2003-11-11 Annual 594918104 1.1 Elect Director William H. Gates, M For For III Microsoft Corp. USA 2003-11-11 Annual 594918104 1.2 Elect Director Steven A. Ballmer M For For Microsoft Corp. USA 2003-11-11 Annual 594918104 1.3 Elect Director James I. Cash, M For For Jr., Ph.D. Microsoft Corp. USA 2003-11-11 Annual 594918104 1.4 Elect Director Raymond V. M For For Gilmartin Microsoft Corp. USA 2003-11-11 Annual 594918104 1.5 Elect Director Ann McLaughlin M For For Korologos Microsoft Corp. USA 2003-11-11 Annual 594918104 1.6 Elect Director David F. M For For Marquardt Microsoft Corp. USA 2003-11-11 Annual 594918104 1.7 Elect Director Charles H. Noski M For For Microsoft Corp. USA 2003-11-11 Annual 594918104 1.8 Elect Director Dr. Helmut Panke M For For Microsoft Corp. USA 2003-11-11 Annual 594918104 1.9 Elect Director Wm. G. Reed, Jr. M For For Microsoft Corp. USA 2003-11-11 Annual 594918104 1.10 Elect Director Jon A. Shirley M For For Microsoft Corp. USA 2003-11-11 Annual 594918104 2 Amend Omnibus Stock Plan M For For Microsoft Corp. USA 2003-11-11 Annual 594918104 3 Amend Non-Employee Director M For For Stock Option Plan Microsoft Corp. USA 2003-11-11 Annual 594918104 4 Refrain from Giving Charitable Contributions S Against Against Boise Cascade Corp. USA 2003-12-09 Special 097383103 NULL NULL S NULL NULL Comverse Technology, Inc. USA 2003-12-16 Annual 205862402 1.1 Elect Director Kobi Alexander M For For Comverse Technology, Inc. USA 2003-12-16 Annual 205862402 1.2 Elect Director Raz Alon M For For Comverse Technology, Inc. USA 2003-12-16 Annual 205862402 1.3 Elect Director Itsik Danziger M For For Comverse Technology, Inc. USA 2003-12-16 Annual 205862402 1.4 Elect Director John H. Friedman M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Comverse Technology, Inc. USA 2003-12-16 Annual 205862402 1.5 Elect Director Ron Hiram M For For Comverse Technology, Inc. USA 2003-12-16 Annual 205862402 1.6 Elect Director Sam Oolie M For For Comverse Technology, Inc. USA 2003-12-16 Annual 205862402 1.7 Elect Director William F. Sorin M For For Comverse Technology, Inc. USA 2003-12-16 Annual 205862402 2 Amend Employee Stock Purchase Plan M For For Comverse Technology, Inc. USA 2003-12-16 Annual 205862402 3 Approve Executive Incentive Bonus Plan M For For Comverse Technology, Inc. USA 2003-12-16 Annual 205862402 4 Ratify Auditors M For For Jabil Circuit, Inc. USA 2004-01-13 Annual 466313103 1.1 Elect Director William D. Morean M For For Jabil Circuit, Inc. USA 2004-01-13 Annual 466313103 1.2 Elect Director Thomas A. Sansone M For For Jabil Circuit, Inc. USA 2004-01-13 Annual 466313103 1.3 Elect Director Timothy L. Main M For For Jabil Circuit, Inc. USA 2004-01-13 Annual 466313103 1.4 Elect Director Lawrence J. M For For Murphy Jabil Circuit, Inc. USA 2004-01-13 Annual 466313103 1.5 Elect Director Mel S. Lavitt M For For Jabil Circuit, Inc. USA 2004-01-13 Annual 466313103 1.6 Elect Director Steven A. Raymund M For For Jabil Circuit, Inc. USA 2004-01-13 Annual 466313103 1.7 Elect Director Frank A. Newman M For For Jabil Circuit, Inc. USA 2004-01-13 Annual 466313103 1.8 Elect Director Laurence S. M For For Grafstein Jabil Circuit, Inc. USA 2004-01-13 Annual 466313103 2 Amend Omnibus Stock Plan M For For Jabil Circuit, Inc. USA 2004-01-13 Annual 466313103 3 Ratify Auditors M For For The Walt Disney Company USA 2004-03-03 Annual 254687106 1.1 Elect Director John E. Bryson M For Withhold The Walt Disney Company USA 2004-03-03 Annual 254687106 1.2 Elect Director John S. Chen M For Withhold The Walt Disney Company USA 2004-03-03 Annual 254687106 1.3 Elect Director Michael D. M For Withhold Eisner The Walt Disney Company USA 2004-03-03 Annual 254687106 1.4 Elect Director Judith L. Estrin M For Withhold The Walt Disney Company USA 2004-03-03 Annual 254687106 1.5 Elect Director Robert A. Iger M For Withhold The Walt Disney Company USA 2004-03-03 Annual 254687106 1.6 Elect Director Aylwin B. Lewis M For Withhold The Walt Disney Company USA 2004-03-03 Annual 254687106 1.7 Elect Director Monica C. Lozano M For Withhold The Walt Disney Company USA 2004-03-03 Annual 254687106 1.8 Elect Director Robert W. M For Withhold Matschullat The Walt Disney Company USA 2004-03-03 Annual 254687106 1.9 Elect Director George J. M For Withhold Mitchell The Walt Disney Company USA 2004-03-03 Annual 254687106 1.10 Elect Director Leo J. M For Withhold O'Donovan, S.J. The Walt Disney Company USA 2004-03-03 Annual 254687106 1.11 Elect Director Gary L. Wilson M For Withhold The Walt Disney Company USA 2004-03-03 Annual 254687106 2 Ratify Auditors M For For The Walt Disney Company USA 2004-03-03 Annual 254687106 3 China Principles S Against Against The Walt Disney Company USA 2004-03-03 Annual 254687106 4 Report on Supplier Labor S Against For Standards in China The Walt Disney Company USA 2004-03-03 Annual 254687106 5 Report on Amusement Park Safety S Against Against AmerisourceBergen Corp USA 2004-03-05 Annual 03073E105 1.1 Elect Director Edward E. M For For Hagenlocker AmerisourceBergen Corp USA 2004-03-05 Annual 03073E105 1.2 Elect Director Kurt J. M For For Hilzinger Hewlett-Packard Co. USA 2004-03-17 Annual 428236103 1.1 Elect Director L.T. Babbio, Jr. M For For Hewlett-Packard Co. USA 2004-03-17 Annual 428236103 1.2 Elect Director P.C. Dunn M For For Hewlett-Packard Co. USA 2004-03-17 Annual 428236103 1.3 Elect Director C.S. Fiorina M For For Hewlett-Packard Co. USA 2004-03-17 Annual 428236103 1.4 Elect Director R.A. Hackborn M For For Hewlett-Packard Co. USA 2004-03-17 Annual 428236103 1.5 Elect Director G.A. Keyworth II M For For Hewlett-Packard Co. USA 2004-03-17 Annual 428236103 1.6 Elect Director R.E. Knowling, M For For Jr. Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Hewlett-Packard Co. USA 2004-03-17 Annual 428236103 1.7 Elect Director S.M. Litvack M For Withhold Hewlett-Packard Co. USA 2004-03-17 Annual 428236103 1.8 Elect Director R.L. Ryan M For For Hewlett-Packard Co. USA 2004-03-17 Annual 428236103 1.9 Elect Director L.S. Salhany M For For Hewlett-Packard Co. USA 2004-03-17 Annual 428236103 2 Ratify Auditors M For For Hewlett-Packard Co. USA 2004-03-17 Annual 428236103 3 Approve Omnibus Stock Plan M For For Hewlett-Packard Co. USA 2004-03-17 Annual 428236103 4 Expense Stock Options S Against For Bank of America Corp. USA 2004-03-17 Special 060505104 1 Approve Merger Agreement M For For Bank of America Corp. USA 2004-03-17 Special 060505104 2 Amend Omnibus Stock Plan M For For Bank of America Corp. USA 2004-03-17 Special 060505104 3 Increase Authorized Common Stock M For For Bank of America Corp. USA 2004-03-17 Special 060505104 4 Adjourn Meeting M For Against Travelers Property Casualty Corp. USA 2004-03-19 Special 89420G109 1 Approve Merger Agreement M For For Travelers Property Casualty Corp. USA 2004-03-19 Special 89420G406 1 Approve Merger Agreement M For For Credence Systems Corp. USA 2004-03-23 Annual 225302108 1.1 Elect Director Richard M. Beyer M For For Credence Systems Corp. USA 2004-03-23 Annual 225302108 1.2 Elect Director Thomas R. Franz M For Withhold Credence Systems Corp. USA 2004-03-23 Annual 225302108 1.3 Elect Director William G. M For For Howard, Jr. Credence Systems Corp. USA 2004-03-23 Annual 225302108 1.4 Elect Director Bruce R. Wright M For For Credence Systems Corp. USA 2004-03-23 Annual 225302108 2 Ratify Auditors M For For Nokia Corp. Finland 2004-03-25 Annual 654902204 1 APPROVAL OF THE INCOME M For For STATEMENTS AND THE BALANCE SHEETS. Nokia Corp. Finland 2004-03-25 Annual 654902204 2 APPROVAL OF A DIVIDEND OF EUR M For For 0.30 PER SHARE. Nokia Corp. Finland 2004-03-25 Annual 654902204 3 APPROVAL OF THE DISCHARGE OF THE M For For CHAIRMAN, THE MEMBERS OF THE BOARD OF DIRECTORS AND THE PRESIDENT FROM LIABILITY. Nokia Corp. Finland 2004-03-25 Annual 654902204 4.1 Elect Director Paul J. Collins M For For Nokia Corp. Finland 2004-03-25 Annual 654902204 4.2 Elect Director Georg Ehrnrooth M For For Nokia Corp. Finland 2004-03-25 Annual 654902204 4.3 Elect Director Bengt Holmstrom M For For Nokia Corp. Finland 2004-03-25 Annual 654902204 4.4 Elect Director Per Karlsson M For For Nokia Corp. Finland 2004-03-25 Annual 654902204 4.5 Elect Director Jorma Ollila M For For Nokia Corp. Finland 2004-03-25 Annual 654902204 4.6 Elect Director Marjorie M For For Scardino Nokia Corp. Finland 2004-03-25 Annual 654902204 4.7 Elect Director Vesa Vainio M For For Nokia Corp. Finland 2004-03-25 Annual 654902204 4.8 Elect Director Arne Wessberg M For For Nokia Corp. Finland 2004-03-25 Annual 654902204 5 Ratify Auditors M For For Nokia Corp. Finland 2004-03-25 Annual 654902204 6 APPROVAL OF THE PROPOSAL OF THE M For For BOARD TO REDUCE THE SHARE CAPITAL THROUGH CANCELLATION OF NOKIA SHARES HELD BY THE COMPANY Nokia Corp. Finland 2004-03-25 Annual 654902204 7 APPROVAL OF THE AUTHORIZATION TO M For For THE BOARD TO INCREASE THE SHARE CAPITAL OF THE COMPANY. Nokia Corp. Finland 2004-03-25 Annual 654902204 8 APPROVAL OF THE AUTHORIZATION TO M For For THE BOARD TO REPURCHASE NOKIA SHARES. Nokia Corp. Finland 2004-03-25 Annual 654902204 9 APPROVAL OF THE AUTHORIZATION TO M For For THE BOARD TO DISPOSE NOKIA SHARES HELD BY THE COMPANY. Nokia Corp. Finland 2004-03-25 Annual 654902204 10 APPROVAL OF THE PROPOSAL OF THE M For For BOARD TO INCREASE THE CAPITAL OF THE FOUNDATION OF NOKIA CORPORATION. Nokia Corp. Finland 2004-03-25 Annual 654902204 11 MARK THE FOR BOX IF YOU WISH M None Against TO INSTRUCT THE DEPOSITARY TO GIVE A PROXY TO ANY ONE OF MARIANNA UOTINEN-TARKOMA, ESA KAUNISTOLA, BOTH LEGAL COUNSELS OF NOKIA CORPORATION, TO AUTHORIZE ANY OF THEM (WITH FULL POWER OF SUBSTITUTION) TO VOTE, IN THEIR DISCR The Goldman Sachs Group, Inc. USA 2004-03-31 Annual 38141G104 1.1 Elect Director Lloyd C. M For For Blankfein The Goldman Sachs Group, Inc. USA 2004-03-31 Annual 38141G104 1.2 Elect Director Lord Browne Of M For For Madingley Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN COMSTOCK FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ The Goldman Sachs Group, Inc. USA 2004-03-31 Annual 38141G104 1.3 Elect Director Claes Dahlback M For For The Goldman Sachs Group, Inc. USA 2004-03-31 Annual 38141G104 1.4 Elect Director James A. Johnson M For For The Goldman Sachs Group, Inc. USA 2004-03-31 Annual 38141G104 1.5 Elect Director Lois D. Juliber M For For The Goldman Sachs Group, Inc. USA 2004-03-31 Annual 38141G104 2 Ratify Auditors M For For The Goldman Sachs Group, Inc. USA 2004-03-31 Annual 38141G104 3 Declassify the Board of S Against Against Directors Freddie Mac USA 2004-03-31 Annual 313400301 1.1 Elect Director Joan E. Donoghue M For For Freddie Mac USA 2004-03-31 Annual 313400301 1.2 Elect Director Michelle Engler M For For Freddie Mac USA 2004-03-31 Annual 313400301 1.3 Elect Director Richard Karl M For For Goeltz Freddie Mac USA 2004-03-31 Annual 313400301 1.4 Elect Director George D. Gould M For For Freddie Mac USA 2004-03-31 Annual 313400301 1.5 Elect Director Henry Kaufman M For For Freddie Mac USA 2004-03-31 Annual 313400301 1.6 Elect Director John B. Mccoy M For For Freddie Mac USA 2004-03-31 Annual 313400301 1.7 Elect Director Shaun F. M For For O'Malley Freddie Mac USA 2004-03-31 Annual 313400301 1.8 Elect Director Ronald F. Poe M For For Freddie Mac USA 2004-03-31 Annual 313400301 1.9 Elect Director Stephen A. Ross M For For Freddie Mac USA 2004-03-31 Annual 313400301 1.10 Elect Director Donald J. M For For Schuenke Freddie Mac USA 2004-03-31 Annual 313400301 1.11 Elect Director Christina Seix M For For Freddie Mac USA 2004-03-31 Annual 313400301 1.12 Elect Director Richard F. Syron M For For Freddie Mac USA 2004-03-31 Annual 313400301 1.13 Elect Director William J. M For For Turner Freddie Mac USA 2004-03-31 Annual 313400301 2 Ratify Auditors M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ GTECH Holdings Corp. USA 2003-08-04 Annual 400518106 1.1 Elect Director Burnett W. Donoho M For For GTECH Holdings Corp. USA 2003-08-04 Annual 400518106 1.2 Elect Director James F. McCann M For For GTECH Holdings Corp. USA 2003-08-04 Annual 400518106 1.3 Elect Director W. Bruce Turner M For For GTECH Holdings Corp. USA 2003-08-04 Annual 400518106 2 Approve Executive Incentive M For For Bonus Plan GTECH Holdings Corp. USA 2003-08-04 Annual 400518106 3 Ratify Auditors M For For The Estee Lauder Companies Inc. USA 2003-11-05 Annual 518439104 1.1 Elect Director Irvine O. Hockaday, Jr. M For For The Estee Lauder Companies Inc. USA 2003-11-05 Annual 518439104 1.2 Elect Director Fred H. Langhammer M For For The Estee Lauder Companies Inc. USA 2003-11-05 Annual 518439104 1.3 Elect Director Rose Marie Bravo M For For The Estee Lauder Companies Inc. USA 2003-11-05 Annual 518439104 2 Approve Executive Incentive Bonus Plan M For For The Estee Lauder Companies Inc. USA 2003-11-05 Annual 518439104 3 Ratify Auditors M For For Coach, Inc. USA 2003-11-05 Annual 189754104 1.1 Elect Director Joseph Ellis M For For Coach, Inc. USA 2003-11-05 Annual 189754104 1.2 Elect Director Lew Frankfort M For For Coach, Inc. USA 2003-11-05 Annual 189754104 1.3 Elect Director Sally Frame Kasaks M For For Coach, Inc. USA 2003-11-05 Annual 189754104 1.4 Elect Director Gary Loveman M For For Coach, Inc. USA 2003-11-05 Annual 189754104 1.5 Elect Director Irene Miller M For For Coach, Inc. USA 2003-11-05 Annual 189754104 1.6 Elect Director Keith Monda M For For Coach, Inc. USA 2003-11-05 Annual 189754104 1.7 Elect Director Michael Murphy M For For Lam Research Corp. USA 2003-11-06 Annual 512807108 1.1 Elect Director James W. Bagley M For For Lam Research Corp. USA 2003-11-06 Annual 512807108 1.2 Elect Director David G. Arscott M For For Lam Research Corp. USA 2003-11-06 Annual 512807108 1.3 Elect Director Robert M. Berdahl M For For Lam Research Corp. USA 2003-11-06 Annual 512807108 1.4 Elect Director Richard J. Elkus, Jr. M For For Lam Research Corp. USA 2003-11-06 Annual 512807108 1.5 Elect Director Jack R. Harris M For For Lam Research Corp. USA 2003-11-06 Annual 512807108 1.6 Elect Director Grant M. Inman M For For Lam Research Corp. USA 2003-11-06 Annual 512807108 2 Amend Employee Stock Purchase Plan M For For Lam Research Corp. USA 2003-11-06 Annual 512807108 3 Approve Executive Incentive Bonus Plan M For For Lam Research Corp. USA 2003-11-06 Annual 512807108 4 Ratify Auditors M For For Harman International Industries, Inc. USA 2003-11-12 Annual 413086109 1.1 Elect Director Edward H. Meyer M For For Harman International Industries, Inc. USA 2003-11-12 Annual 413086109 1.2 Elect Director Gregory P. Stapleton M For For Harman International Industries, Inc. USA 2003-11-12 Annual 413086109 1.3 Elect Director Stanley A. Weiss M For For Harman International Industries, Inc. USA 2003-11-12 Annual 413086109 2 Approve Stock Split M For For International Rectifier Corp. USA 2003-11-24 Annual 460254105 1.1 Elect Director James D. Plummer M For For International Rectifier Corp. USA 2003-11-24 Annual 460254105 1.2 Elect Director Minoru Matsuda M For For International Rectifier Corp. USA 2003-11-24 Annual 460254105 1.3 Elect Director Robert S. Attiyeh M For For International Rectifier Corp. USA 2003-11-24 Annual 460254105 2 Amend Employee Stock Purchase Plan M For For International Rectifier Corp. USA 2003-11-24 Annual 460254105 3 Amend Omnibus Stock Plan M For For International Rectifier Corp. USA 2003-11-24 Annual 460254105 4 Ratify Auditors M For For Fox Entertainment Group, Inc. USA 2003-11-25 Annual 35138T107 1.1 Elect Director K. Rupert Murdoch, AC M For For Fox Entertainment Group, Inc. USA 2003-11-25 Annual 35138T107 1.2 Elect Director Peter Chernin M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Fox Entertainment Group, Inc. USA 2003-11-25 Annual 35138T107 1.3 Elect Director David F. DeVoe M For For Fox Entertainment Group, Inc. USA 2003-11-25 Annual 35138T107 1.4 Elect Director Arthur M. Siskind M For For Fox Entertainment Group, Inc. USA 2003-11-25 Annual 35138T107 1.5 Elect Director Lachlan K. M For For Murdoch Fox Entertainment Group, Inc. USA 2003-11-25 Annual 35138T107 1.6 Elect Director Christos M. M For For Cotsakos Fox Entertainment Group, Inc. USA 2003-11-25 Annual 35138T107 1.7 Elect Director Thomas W. Jones M For For Fox Entertainment Group, Inc. USA 2003-11-25 Annual 35138T107 1.8 Elect Director Peter Powers M For For Fox Entertainment Group, Inc. USA 2003-11-25 Annual 35138T107 2 Ratify Auditors M For For Mercury Interactive Corp. USA 2003-12-10 Special 589405109 1 Amend Stock Option Plan M For For Mercury Interactive Corp. USA 2003-12-10 Special 589405109 2 Amend Employee Stock Purchase M For For Plan MCAFEE INC. USA 2003-12-16 Annual 640938106 1.1 Elect Director Leslie Denend M For For MCAFEE INC. USA 2003-12-16 Annual 640938106 1.2 Elect Director George Samenuk M For For MCAFEE INC. USA 2003-12-16 Annual 640938106 2 Amend Omnibus Stock Plan M For For MCAFEE INC. USA 2003-12-16 Annual 640938106 3 Amend Non-Employee Director Stock Option Plan M For For MCAFEE INC. USA 2003-12-16 Annual 640938106 4 Amend Employee Stock Purchase M For For Plan MCAFEE INC. USA 2003-12-16 Annual 640938106 5 Ratify Auditors M For For Sonic Corp. USA 2004-01-21 Annual 835451105 1.1 Elect Director J. Clifford M For For Hudson Sonic Corp. USA 2004-01-21 Annual 835451105 1.2 Elect Director Robert M. M For For Rosenberg Sonic Corp. USA 2004-01-21 Annual 835451105 1.3 Elect Director Federico F. Pena M For For Sonic Corp. USA 2004-01-21 Annual 835451105 2 Other Business M For Against ARAMARK Corp USA 2004-02-03 Annual 038521100 1.1 Elect Director Joseph Neubauer M For For ARAMARK Corp USA 2004-02-03 Annual 038521100 1.2 Elect Director Lawrence T. M For For Babbio, Jr. ARAMARK Corp USA 2004-02-03 Annual 038521100 1.3 Elect Director William Leonard M For For ARAMARK Corp USA 2004-02-03 Annual 038521100 1.4 Elect Director Karl M. von der M For For Heyden ARAMARK Corp USA 2004-02-03 Annual 038521100 2 Approve Executive Incentive M For For Bonus Plan ARAMARK Corp USA 2004-02-03 Annual 038521100 3 Ratify Auditors M For For Ameritrade Holdings Corp. USA 2004-02-10 Annual 03074K100 1.1 Elect Director J. Peter M For Withhold Ricketts Ameritrade Holdings Corp. USA 2004-02-10 Annual 03074K100 1.2 Elect Director C. Kevin Landry M For For Ameritrade Holdings Corp. USA 2004-02-10 Annual 03074K100 1.3 Elect Director Mark L. Mitchell M For For Ameritrade Holdings Corp. USA 2004-02-10 Annual 03074K100 2 Ratify Auditors M For For Ameritrade Holdings Corp. USA 2004-02-10 Annual 03074K100 3 Other Business M For Against Varian Medical Systems Inc USA 2004-02-19 Annual 92220P105 1.1 Elect Director John Seely Brown M For For Varian Medical Systems Inc USA 2004-02-19 Annual 92220P105 1.2 Elect Director Samuel Hellman M For For Varian Medical Systems Inc USA 2004-02-19 Annual 92220P105 1.3 Elect Director Terry R. M For For Lautenbach Varian Medical Systems Inc USA 2004-02-19 Annual 92220P105 2 Amend Executive Incentive Bonus M For For Plan Agere Systems Inc USA 2004-02-19 Annual 00845V100 1.1 Elect Director Richard L. M For For Clemmer Agere Systems Inc USA 2004-02-19 Annual 00845V100 1.2 Elect Director John T. Dickson M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ International Game Technology USA 2004-03-02 Annual 459902102 1.1 Elect Director G. Thomas Baker M For For International Game Technology USA 2004-03-02 Annual 459902102 1.2 Elect Director Neil Barsky M For For International Game Technology USA 2004-03-02 Annual 459902102 1.3 Elect Director Robert A. M For For Bittman International Game Technology USA 2004-03-02 Annual 459902102 1.4 Elect Director Richard R. Burt M For For International Game Technology USA 2004-03-02 Annual 459902102 1.5 Elect Director Leslie S. Heisz M For For International Game Technology USA 2004-03-02 Annual 459902102 1.6 Elect Director Robert A. M For For Mathewson International Game Technology USA 2004-03-02 Annual 459902102 1.7 Elect Director Thomas J. M For For Matthews International Game Technology USA 2004-03-02 Annual 459902102 1.8 Elect Director Robert Miller M For For International Game Technology USA 2004-03-02 Annual 459902102 1.9 Elect Director Frederick B. M For For Rentschler International Game Technology USA 2004-03-02 Annual 459902102 2 Amend Employee Stock Purchase M For For Plan International Game Technology USA 2004-03-02 Annual 459902102 3 Ratify Auditors M For For Novell, Inc. USA 2004-04-15 Annual 670006105 1.1 Elect Director Albert Aiello M For For Novell, Inc. USA 2004-04-15 Annual 670006105 1.2 Elect Director Fred Corrado M For For Novell, Inc. USA 2004-04-15 Annual 670006105 1.3 Elect Director Richard L. M For For Crandall Novell, Inc. USA 2004-04-15 Annual 670006105 1.4 Elect Director Wayne Mackie M For For Novell, Inc. USA 2004-04-15 Annual 670006105 1.5 Elect Director Claudia B. M For For Malone Novell, Inc. USA 2004-04-15 Annual 670006105 1.6 Elect Director Jack L. Messman M For For Novell, Inc. USA 2004-04-15 Annual 670006105 1.7 Elect Director Richard L. Nolan M For For Novell, Inc. USA 2004-04-15 Annual 670006105 1.8 Elect Director Thomas G. M For For Plaskett Novell, Inc. USA 2004-04-15 Annual 670006105 1.9 Elect Director John W. M For For Poduska, Sr. Novell, Inc. USA 2004-04-15 Annual 670006105 1.10 Elect Director James D. M For For Robinson, III Novell, Inc. USA 2004-04-15 Annual 670006105 1.11 Elect Director Kathy Brittain M For For White Novell, Inc. USA 2004-04-15 Annual 670006105 2 Expense Stock Options S Against For Novell, Inc. USA 2004-04-15 Annual 670006105 3 Performance-Based/Indexed Options S Against For Novell, Inc. USA 2004-04-15 Annual 670006105 4 Prohibit Auditor from Providing S Against Against Non-Audit Services Tractor Supply Co. USA 2004-04-15 Annual 892356106 1.1 Elect Director James F. Wright M For For Tractor Supply Co. USA 2004-04-15 Annual 892356106 1.2 Elect Director Gerard E. Jones M For Withhold Tractor Supply Co. USA 2004-04-15 Annual 892356106 1.3 Elect Director Edna K. Morris M For For Tractor Supply Co. USA 2004-04-15 Annual 892356106 2 Ratify Auditors M For For Tractor Supply Co. USA 2004-04-15 Annual 892356106 3 Approve Executive Incentive M For For Bonus Plan Juniper Networks, Inc. USA 2004-04-16 Special 48203R104 1 Issue Shares in Connection with M For For an Acquisition Smith International, Inc. USA 2004-04-20 Annual 832110100 1.1 Elect Director James R. Gibbs M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Smith International, Inc. USA 2004-04-20 Annual 832110100 1.2 Elect Director Jerry W. Neely M For For Smith International, Inc. USA 2004-04-20 Annual 832110100 2 Ratify Auditors M For For Chicago Mercantile Exchange Holdings, Inc.USA 2004-04-21 Annual 167760107 1.1 Elect Director Dennis H. M For For Chookaszian Chicago Mercantile Exchange Holdings, Inc.USA 2004-04-21 Annual 167760107 1.2 Elect Director Martin J. M For For Gepsman Chicago Mercantile Exchange Holdings, Inc.USA 2004-04-21 Annual 167760107 1.3 Elect Director Elizabeth M For For Harrington Chicago Mercantile Exchange Holdings, Inc.USA 2004-04-21 Annual 167760107 1.4 Elect Director Leo Melamed M For For Chicago Mercantile Exchange Holdings, Inc.USA 2004-04-21 Annual 167760107 1.5 Elect Director Alex J. Pollock M For For Chicago Mercantile Exchange Holdings, Inc.USA 2004-04-21 Annual 167760107 1.6 Elect Director Myron S. Scholes M For Withhold Chicago Mercantile Exchange Holdings, Inc.USA 2004-04-21 Annual 167760107 1.7 Elect Director William R. M For For Shepard Chicago Mercantile Exchange Holdings, Inc.USA 2004-04-21 Annual 167760107 2 Ratify Auditors M For For C. R. Bard, Inc. USA 2004-04-21 Annual 067383109 1.1 Elect Director Anthony Welters M For For C. R. Bard, Inc. USA 2004-04-21 Annual 067383109 1.2 Elect Director Tony L. White M For For C. R. Bard, Inc. USA 2004-04-21 Annual 067383109 1.3 Elect Director Theodore E. M For For Martin C. R. Bard, Inc. USA 2004-04-21 Annual 067383109 1.4 Elect Director Timothy M. Ring M For For C. R. Bard, Inc. USA 2004-04-21 Annual 067383109 2 Approve Omnibus Stock Plan M For For C. R. Bard, Inc. USA 2004-04-21 Annual 067383109 3 Amend Executive Incentive Bonus M For For Plan C. R. Bard, Inc. USA 2004-04-21 Annual 067383109 4 Ratify Auditors M For For Doral Financial Corp. USA 2004-04-21 Annual 25811P100 1.1 Elect Director Richard F. M For For Bonini Doral Financial Corp. USA 2004-04-21 Annual 25811P100 1.2 Elect Director Edgar M. Cullman, Jr M For For Doral Financial Corp. USA 2004-04-21 Annual 25811P100 1.3 Elect Director John L. Ernst M For For Doral Financial Corp. USA 2004-04-21 Annual 25811P100 1.4 Elect Director Peter A. Hoffman M For For Doral Financial Corp. USA 2004-04-21 Annual 25811P100 1.5 Elect Director Efraim Kier M For For Doral Financial Corp. USA 2004-04-21 Annual 25811P100 1.6 Elect Director Salomon Levis M For For Doral Financial Corp. USA 2004-04-21 Annual 25811P100 1.7 Elect Director Zoila Levis M For For Doral Financial Corp. USA 2004-04-21 Annual 25811P100 1.8 Elect Director Harold D. M For For Vicente Doral Financial Corp. USA 2004-04-21 Annual 25811P100 1.9 Elect Director John B. Hughes M For For Doral Financial Corp. USA 2004-04-21 Annual 25811P100 2 Increase Authorized Common Stock M For Against Doral Financial Corp. USA 2004-04-21 Annual 25811P100 3 Increase Authorized Preferred Stock M For Against Doral Financial Corp. USA 2004-04-21 Annual 25811P100 4 Approve Omnibus Stock Plan M For For Doral Financial Corp. USA 2004-04-21 Annual 25811P100 5 Ratify Auditors M For For Outback Steakhouse, Inc. USA 2004-04-21 Annual 689899102 1.1 Elect Director John A. Brabson, M For For Jr. Outback Steakhouse, Inc. USA 2004-04-21 Annual 689899102 1.2 Elect Director Lee Roy Selmon M For For Outback Steakhouse, Inc. USA 2004-04-21 Annual 689899102 2 Amend Omnibus Stock Plan M For For Outback Steakhouse, Inc. USA 2004-04-21 Annual 689899102 3 Other Business M For Against Diebold, Inc. USA 2004-04-22 Annual 253651103 1.1 Elect Director Louis V. Bockius M For For III Diebold, Inc. USA 2004-04-22 Annual 253651103 1.2 Elect Director Christopher M. M For For Connor Diebold, Inc. USA 2004-04-22 Annual 253651103 1.3 Elect Director Richard L. M For For randall Diebold, Inc. USA 2004-04-22 Annual 253651103 1.4 Elect Director Eric C. Evans M For For Diebold, Inc. USA 2004-04-22 Annual 253651103 1.5 Elect Director Gale S. M For For Fitzgerald Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Diebold, Inc. USA 2004-04-22 Annual 253651103 1.6 Elect Director Phillip B. M For For Lassiter Diebold, Inc. USA 2004-04-22 Annual 253651103 1.7 Elect Director John N. Lauer M For For Diebold, Inc. USA 2004-04-22 Annual 253651103 1.8 Elect Director William F. Massy M For For Diebold, Inc. USA 2004-04-22 Annual 253651103 1.9 Elect Director Walden W. O'Dell M For For Diebold, Inc. USA 2004-04-22 Annual 253651103 1.10 Elect Director Eric J. Roorda M For For Diebold, Inc. USA 2004-04-22 Annual 253651103 1.11 Elect Director W. R. Timken, M For For Jr. Diebold, Inc. USA 2004-04-22 Annual 253651103 1.12 Elect Director Henry D. G. M For For Wallace Diebold, Inc. USA 2004-04-22 Annual 253651103 2 Ratify Auditors M For For Lexmark International, Inc. USA 2004-04-22 Annual 529771107 1.1 Elect Director Frank T. Cary M For For Lexmark International, Inc. USA 2004-04-22 Annual 529771107 1.2 Elect Director Paul J. M For For Curlander Lexmark International, Inc. USA 2004-04-22 Annual 529771107 1.3 Elect Director Martin D. Walker M For For Lexmark International, Inc. USA 2004-04-22 Annual 529771107 1.4 Elect Director James F. M For For Hardymon Lexmark International, Inc. USA 2004-04-22 Annual 529771107 2 Approve Executive Incentive M For For Bonus Plan Lexmark International, Inc. USA 2004-04-22 Annual 529771107 3 Ratify Auditors M For For Graco Inc. USA 2004-04-23 Annual 384109104 1.1 Elect Director William G. Van M For For Dyke Graco Inc. USA 2004-04-23 Annual 384109104 1.2 Elect Director Mark H. M For For Rauenhorst Graco Inc. USA 2004-04-23 Annual 384109104 1.3 Elect Director J. Kevin M For For Gilligan Graco Inc. USA 2004-04-23 Annual 384109104 1.4 Elect Director R. William Van M For For Sant Graco Inc. USA 2004-04-23 Annual 384109104 1.5 Elect Director Jack W. Eugster M For For Graco Inc. USA 2004-04-23 Annual 384109104 2 Ratify Auditors M For For P.F. Chang's China Bistro Inc USA 2004-04-23 Annual 69333Y108 1.1 Elect Director Richard L. M For For Federico P.F. Chang's China Bistro Inc USA 2004-04-23 Annual 69333Y108 1.2 Elect Director R. Michael M For For Welborn P.F. Chang's China Bistro Inc USA 2004-04-23 Annual 69333Y108 1.3 Elect Director James D. Shennan, M For For Jr. P.F. Chang's China Bistro Inc USA 2004-04-23 Annual 69333Y108 1.4 Elect Director F. Lane Cardwell, M For For Jr. P.F. Chang's China Bistro Inc USA 2004-04-23 Annual 69333Y108 1.5 Elect Director Kenneth J. M For For Wessels P.F. Chang's China Bistro Inc USA 2004-04-23 Annual 69333Y108 1.6 Elect Director M. Ann Rhoades M For For P.F. Chang's China Bistro Inc USA 2004-04-23 Annual 69333Y108 1.7 Elect Director Lesley H. Howe M For For P.F. Chang's China Bistro Inc USA 2004-04-23 Annual 69333Y108 2 Ratify Auditors M For For P.F. Chang's China Bistro Inc USA 2004-04-23 Annual 69333Y108 3 Amend Stock Option Plan M For For P.F. Chang's China Bistro Inc USA 2004-04-23 Annual 69333Y108 4 Adjourn Meeting M For Against Moody's Corporation USA 2004-04-27 Annual 615369105 1.1 Elect Director Basil L. M For For Anderson Moody's Corporation USA 2004-04-27 Annual 615369105 1.2 Elect Director Raymond W M For For Mcdaniel Jr. Moody's Corporation USA 2004-04-27 Annual 615369105 1.3 Elect Director John Rutherfurd, M For For Jr. Moody's Corporation USA 2004-04-27 Annual 615369105 1.4 Elect Director John K. Wulff M For For Moody's Corporation USA 2004-04-27 Annual 615369105 2 Amend Omnibus Stock Plan M For For Moody's Corporation USA 2004-04-27 Annual 615369105 3 Approve Executive Incentive M For For Bonus Plan Moody's Corporation USA 2004-04-27 Annual 615369105 4 Ratify Auditors M For For Moody's Corporation USA 2004-04-27 Annual 615369105 5 Performance- Based S Against Against Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Adobe Systems Inc. USA 2004-04-28 Annual 00724F101 1.1 Elect Director Michael R. M For For Cannon Adobe Systems Inc. USA 2004-04-28 Annual 00724F101 1.2 Elect Director Bruce R. Chizen M For For Adobe Systems Inc. USA 2004-04-28 Annual 00724F101 1.3 Elect Director James E. Daley M For For Adobe Systems Inc. USA 2004-04-28 Annual 00724F101 1.4 Elect Director Charles M. M For For Geschke Adobe Systems Inc. USA 2004-04-28 Annual 00724F101 1.5 Elect Director Delbert W. Yocam M For For Adobe Systems Inc. USA 2004-04-28 Annual 00724F101 2 Amend Omnibus Stock Plan M For For Adobe Systems Inc. USA 2004-04-28 Annual 00724F101 3 Expense Stock Options S Against For Adobe Systems Inc. USA 2004-04-28 Annual 00724F101 4 Adopt a Plocy that will Committ S Against For Executives to Hold a Significant Percentage of their Shares Adobe Systems Inc. USA 2004-04-28 Annual 00724F101 5 Ratify Auditors M For For Allergan, Inc. USA 2004-04-28 Annual 018490102 1.1 Elect Director Handel E. Evans M For For Allergan, Inc. USA 2004-04-28 Annual 018490102 1.2 Elect Director Michael R. M For For Gallagher Allergan, Inc. USA 2004-04-28 Annual 018490102 1.3 Elect Director Gavin S. Herbert M For For Allergan, Inc. USA 2004-04-28 Annual 018490102 1.4 Elect Director Stephen J. Ryan M For For Allergan, Inc. USA 2004-04-28 Annual 018490102 2 Ratify Auditors M For For Allergan, Inc. USA 2004-04-28 Annual 018490102 3 Expense Stock Options S Against For Allergan, Inc. USA 2004-04-28 Annual 018490102 4 Separate Chairman and CEO S Against Against Positions NII Holdings, Inc. USA 2004-04-28 Annual 62913F201 1.1 Elect Director Steven P. Dussek M For Withhold NII Holdings, Inc. USA 2004-04-28 Annual 62913F201 1.2 Elect Director Steven M. M For For Shindler NII Holdings, Inc. USA 2004-04-28 Annual 62913F201 2 Increase Authorized Common Stock M For For NII Holdings, Inc. USA 2004-04-28 Annual 62913F201 3 Approve Omnibus Stock Plan M For For NII Holdings, Inc. USA 2004-04-28 Annual 62913F201 4 Adjourn Meeting M For Against Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 1.1 Elect Director Mel E. Benson M For For Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 1.2 Elect Director Brian A. M For For Canfield Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 1.3 Elect Director Susan E. Crocker M For For Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 1.4 Elect Director Bryan P. Davies M For For Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 1.5 Elect Director Brian A. Felesky M For For Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 1.6 Elect Director John T. Ferguson M For For Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 1.7 Elect Director W. Douglas Ford M For For Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 1.8 Elect Director Richard L. M For For George Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 1.9 Elect Director John R. Huff M For For Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 1.10 Elect Director Robert W. M For For Korthals Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 1.11 Elect Director M. Ann McCaig M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 1.12 Elect Director Michael W. M For For O'Brien Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 1.13 Elect Director JR Shaw M For For Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 2 Ratify Auditors M For For Suncor Energy Inc Canada 2004-04-29 Annual/ Special 867229106 3 Submit New Participants in the S Against Against Senior Executive Retirement Plan to a Shareholder Vote Corning Inc. USA 2004-04-29 Annual 219350105 1.1 Elect Director Jeremy R. Knowles M For For Corning Inc. USA 2004-04-29 Annual 219350105 1.2 Elect Director Eugene C. Sit M For For Corning Inc. USA 2004-04-29 Annual 219350105 1.3 Elect Director William D. M For For Smithburg Corning Inc. USA 2004-04-29 Annual 219350105 1.4 Elect Director Hansel E. Tookes M For For II Corning Inc. USA 2004-04-29 Annual 219350105 1.5 Elect Director Wendell P. Weeks M For For Corning Inc. USA 2004-04-29 Annual 219350105 2 Ratify Auditors M For For Corning Inc. USA 2004-04-29 Annual 219350105 3 Submit Severance Agreement S Against Against (Change-in-Control) to Shareholder Vote ChoicePoint Inc. USA 2004-04-29 Annual 170388102 1.1 Elect Director John B. Mccoy M For For ChoicePoint Inc. USA 2004-04-29 Annual 170388102 1.2 Elect Director Thomas M. M For For Coughlin ChoicePoint Inc. USA 2004-04-29 Annual 170388102 1.3 Elect Director Derek V. Smith M For For ChoicePoint Inc. USA 2004-04-29 Annual 170388102 2 Approve Deferred Compensation M For For Plan ChoicePoint Inc. USA 2004-04-29 Annual 170388102 3 Ratify Auditors M For For Broadcom Corp. USA 2004-04-29 Annual 111320107 1.1 Elect Director George L. M For For Farinsky Broadcom Corp. USA 2004-04-29 Annual 111320107 1.2 Elect Director John Major M For For Broadcom Corp. USA 2004-04-29 Annual 111320107 1.3 Elect Director Alan E. Ross M For For Broadcom Corp. USA 2004-04-29 Annual 111320107 1.4 Elect Director Henry Samueli, M For For Ph.D. Broadcom Corp. USA 2004-04-29 Annual 111320107 1.5 Elect Director Robert E. Switz M For For Broadcom Corp. USA 2004-04-29 Annual 111320107 1.6 Elect Director Werner F. Wolfen M For For Broadcom Corp. USA 2004-04-29 Annual 111320107 2 Amend Omnibus Stock Plan M For Against Broadcom Corp. USA 2004-04-29 Annual 111320107 3 Ratify Auditors M For For UCBH Holdings, Inc. USA 2004-04-29 Annual 90262T308 1.1 Elect Director Anthony Y. Chan M For For UCBH Holdings, Inc. USA 2004-04-29 Annual 90262T308 1.2 Elect Director Joseph J. Jou M For For UCBH Holdings, Inc. USA 2004-04-29 Annual 90262T308 1.3 Elect Director Dr. Godwin Wong M For For UCBH Holdings, Inc. USA 2004-04-29 Annual 90262T308 1.4 Elect Director Thomas S. Wu M For For UCBH Holdings, Inc. USA 2004-04-29 Annual 90262T308 2 Amend Certificate to Remove Anti-Takeover Provision M For For UCBH Holdings, Inc. USA 2004-04-29 Annual 90262T308 3 Ratify Auditors M For For Brascan Corp (Formerly Edperbrascan Corp.) Canada 2004-04-30 Annual/ Special 10549P606 1 Approve Decrease in Size of M For For Board Brascan Corp (Formerly Edperbrascan Corp.) Canada 2004-04-30 Annual/ Special 10549P606 2.1 Elect Director James J. M For For Blanchard Brascan Corp (Formerly Edperbrascan Corp.) Canada 2004-04-30 Annual/ Special 10549P606 2.2 Elect Director Julia E. Foster M For For Brascan Corp (Formerly Edperbrascan Corp.) Canada 2004-04-30 Annual/ Special 10549P606 2.3 Elect Director Philip B. Lind M For For Brascan Corp (Formerly Edperbrascan Corp.) Canada 2004-04-30 Annual/ Special 10549P606 2.4 Elect Director Roy MacLaren M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Brascan Corp (Formerly Edperbrascan Corp.) Canada 2004-04-30 Annual/ Special 10549P606 2.5 Elect Director G. Wallace F. M For For McCain Brascan Corp (Formerly Edperbrascan Corp.) Canada 2004-04-30 Annual/ Special 10549P606 2.6 Elect Director Jack M. Mintz M For For Brascan Corp (Formerly Edperbrascan Corp.) Canada 2004-04-30 Annual/ Special 10549P606 2.7 Elect Director Saul Shulman M For For Brascan Corp (Formerly Edperbrascan Corp.) Canada 2004-04-30 Annual/ Special 10549P606 2.8 Elect Director George S. Taylor M For For Brascan Corp (Formerly Edperbrascan Corp.) Canada 2004-04-30 Annual/ Special 10549P606 3 Amend Stock Option Plan M For For Brascan Corp (Formerly Edperbrascan Corp.) Canada 2004-04-30 Annual/ Special 10549P606 4 Approve Auditors and Authorize M For For Board to Fix Remuneration of Auditors NVR, Inc. USA 2004-05-03 Annual 62944T105 1.1 Elect Director Manuel H. M For For Johnson NVR, Inc. USA 2004-05-03 Annual 62944T105 1.2 Elect Director David A. Preiser M For For NVR, Inc. USA 2004-05-03 Annual 62944T105 1.3 Elect Director John M. Toups M For For NVR, Inc. USA 2004-05-03 Annual 62944T105 2 Ratify Auditors M For For NVR, Inc. USA 2004-05-03 Annual 62944T105 3 Establish Range For Board Size M For For NVR, Inc. USA 2004-05-03 Annual 62944T105 4 Amend Director Qualifications M For For NVR, Inc. USA 2004-05-03 Annual 62944T105 5 Amend Bylaws M For For NVR, Inc. USA 2004-05-03 Annual 62944T105 6 Establish Range For Board Size M For For NVR, Inc. USA 2004-05-03 Annual 62944T105 7 Amend Bylaws M For For NVR, Inc. USA 2004-05-03 Annual 62944T105 8 Prepare Sustainability Report S Against Against Rambus Inc. USA 2004-05-04 Annual 750917106 1.1 Elect Director Bruce Dunlevie M For For Rambus Inc. USA 2004-05-04 Annual 750917106 1.2 Elect Director Charles Geschke M For For Rambus Inc. USA 2004-05-04 Annual 750917106 1.3 Elect Director Mark Horowitz M For Withhold Rambus Inc. USA 2004-05-04 Annual 750917106 1.4 Elect Director Harold Hughes M For For Rambus Inc. USA 2004-05-04 Annual 750917106 1.5 Elect Director David Mooring M For For Rambus Inc. USA 2004-05-04 Annual 750917106 2 Ratify Auditors M For For American Standard Companies, Inc. USA 2004-05-04 Annual 029712106 1.1 Elect Director Steven E. M For For Anderson American Standard Companies, Inc. USA 2004-05-04 Annual 029712106 1.2 Elect Director James F. M For For Hardymon American Standard Companies, Inc. USA 2004-05-04 Annual 029712106 1.3 Elect Director Ruth Ann M For For Marshall American Standard Companies, Inc. USA 2004-05-04 Annual 029712106 2 Increase Authorized Common Stock M For For American Standard Companies, Inc. USA 2004-05-04 Annual 029712106 3 Ratify Auditors M For For ITT Educational Services, Inc. USA 2004-05-04 Annual 45068B109 1.1 Elect Director Rene R. M For For Champagne ITT Educational Services, Inc. USA 2004-05-04 Annual 45068B109 1.2 Elect Director John F. Cozzi M For For ITT Educational Services, Inc. USA 2004-05-04 Annual 45068B109 1.3 Elect Director James D. Fowler, M For For Jr. ITT Educational Services, Inc. USA 2004-05-04 Annual 45068B109 1.4 Elect Director Harris N. Miller M For For ITT Educational Services, Inc. USA 2004-05-04 Annual 45068B109 2 Increase Authorized Common Stock M For Against The Dun & Bradstreet Corp USA 2004-05-04 Annual 26483E100 1.1 Elect Director John W. Alden M For For The Dun & Bradstreet Corp USA 2004-05-04 Annual 26483E100 1.2 Elect Director Allan Z. Loren M For For The Dun & Bradstreet Corp USA 2004-05-04 Annual 26483E100 1.3 Elect Director Victor A. Pelson M For For The Dun & Bradstreet Corp USA 2004-05-04 Annual 26483E100 2 Ratify Auditors M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Plum Creek Timber Company, Inc. USA 2004-05-04 Annual 729251108 1.1 Elect Director Rick R. Holley M For For Plum Creek Timber Company, Inc. USA 2004-05-04 Annual 729251108 1.2 Elect Director Ian B. Davidson M For For Plum Creek Timber Company, Inc. USA 2004-05-04 Annual 729251108 1.3 Elect Director Robin Josephs M For For Plum Creek Timber Company, Inc. USA 2004-05-04 Annual 729251108 1.4 Elect Director David D. Leland M For Withhold Plum Creek Timber Company, Inc. USA 2004-05-04 Annual 729251108 1.5 Elect Director John G. McDonald M For For Plum Creek Timber Company, Inc. USA 2004-05-04 Annual 729251108 1.6 Elect Director Hamid R. M For For Moghadam Plum Creek Timber Company, Inc. USA 2004-05-04 Annual 729251108 1.7 Elect Director John H. Scully M For For Plum Creek Timber Company, Inc. USA 2004-05-04 Annual 729251108 1.8 Elect Director Stephen C. M For For Tobias Plum Creek Timber Company, Inc. USA 2004-05-04 Annual 729251108 1.9 Elect Director Carl B. Webb M For For Plum Creek Timber Company, Inc. USA 2004-05-04 Annual 729251108 2 Amend Omnibus Stock Plan M For For Plum Creek Timber Company, Inc. USA 2004-05-04 Annual 729251108 3 Ratify Auditors M For For Plum Creek Timber Company, Inc. USA 2004-05-04 Annual 729251108 4 Endorse CERES Principles S Against Against Fairchild Semiconductor International, Inc. USA 2004-05-04 Annual 303726103 1.1 Elect Director Kirk P. Pond M For For Fairchild Semiconductor International, Inc. USA 2004-05-04 Annual 303726103 1.2 Elect Director Joseph R. Martin M For For Fairchild Semiconductor International, Inc. USA 2004-05-04 Annual 303726103 1.3 Elect Director Charles P. M For For Carinalli Fairchild Semiconductor International, Inc. USA 2004-05-04 Annual 303726103 1.4 Elect Director Richard M. M For For Cashin, Jr. Fairchild Semiconductor International, Inc. USA 2004-05-04 Annual 303726103 1.5 Elect Director Charles M. M For For Clough Fairchild Semiconductor International, Inc. USA 2004-05-04 Annual 303726103 1.6 Elect Director Robert F. Friel M For For Fairchild Semiconductor International, Inc. USA 2004-05-04 Annual 303726103 1.7 Elect Director Thomas L. M For For Magnanti Fairchild Semiconductor International, Inc. USA 2004-05-04 Annual 303726103 1.8 Elect Director Bryan R. Roub M For For Fairchild Semiconductor International, Inc. USA 2004-05-04 Annual 303726103 1.9 Elect Director Paul C. Schorr M For For IV Fairchild Semiconductor International, Inc. USA 2004-05-04 Annual 303726103 1.10 Elect Director Ronald W. Shelly M For For Fairchild Semiconductor International, Inc. USA 2004-05-04 Annual 303726103 1.11 Elect Director William N. Stout M For For Fairchild Semiconductor International, Inc. USA 2004-05-04 Annual 303726103 2 Amend Omnibus Stock Plan M For For Fairchild Semiconductor International, Inc. USA 2004-05-04 Annual 303726103 3 Ratify Auditors M For For Caremark Rx, Inc. USA 2004-05-04 Annual 141705103 1.1 Elect Director Edwin M. Banks M For For Caremark Rx, Inc. USA 2004-05-04 Annual 141705103 1.2 Elect Director Colleen C. Welch,M For For Ph.D. Caremark Rx, Inc. USA 2004-05-04 Annual 141705103 1.3 Elect Director Roger L. M For For Headrick Caremark Rx, Inc. USA 2004-05-04 Annual 141705103 1.4 Elect Director Jean-Pierre M For For Millon Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ WYNN RESORTS LTD USA 2004-05-04 Annual 983134107 1.1 Elect Director Stephen A. Wynn M For For WYNN RESORTS LTD USA 2004-05-04 Annual 983134107 1.2 Elect Director Alvin V. M For For Shoemaker WYNN RESORTS LTD USA 2004-05-04 Annual 983134107 1.3 Elect Director D. Boone Wayson M For For WYNN RESORTS LTD USA 2004-05-04 Annual 983134107 1.4 Elect Director Stanley R. Zax M For For WYNN RESORTS LTD USA 2004-05-04 Annual 983134107 2 Approve Executive Incentive M For For Bonus Plan WYNN RESORTS LTD USA 2004-05-04 Annual 983134107 3 Ratify Auditors M For For Placer Dome Inc. Canada 2004-05-05 Annual/ Special 725906101 1.1 Elect G. B. Coulombe as a M For For Director Placer Dome Inc. Canada 2004-05-05 Annual/ Special 725906101 1.2 Elect J. W. Crow as a Director M For For Placer Dome Inc. Canada 2004-05-05 Annual/ Special 725906101 1.3 Elect G. Farquharson as a M For For Director Placer Dome Inc. Canada 2004-05-05 Annual/ Special 725906101 1.4 Elect R. M. Franklin as a M For For Director Placer Dome Inc. Canada 2004-05-05 Annual/ Special 725906101 1.5 Elect D. S. Karpin as a Director M For For Placer Dome Inc. Canada 2004-05-05 Annual/ Special 725906101 1.6 Elect R. McFarland as a Director M For For Placer Dome Inc. Canada 2004-05-05 Annual/ Special 725906101 1.7 Elect C. L. Michel as a Director M For For Placer Dome Inc. Canada 2004-05-05 Annual/ Special 725906101 1.8 Elect E. A. Parkinson-Marcoux as M For For a Director Placer Dome Inc. Canada 2004-05-05 Annual/ Special 725906101 1.9 Elect J. K. Taylor as a Director M For For Placer Dome Inc. Canada 2004-05-05 Annual/ Special 725906101 1.10 Elect V. F. Taylor III as a M For For Director Placer Dome Inc. Canada 2004-05-05 Annual/ Special 725906101 1.11 Elect W. G. Wilson as a Director M For For Placer Dome Inc. Canada 2004-05-05 Annual/ Special 725906101 2 Ratify Ernst & Young LLP as M For For Auditors Placer Dome Inc. Canada 2004-05-05 Annual/ Special 725906101 3 Adopt or Amend Shareholder Rights Plan (Poison Pill) M For For R.H. Donnelley Corp. USA 2004-05-05 Annual 74955W307 1.1 Elect Director Kenneth G. Campbell M For For R.H. Donnelley Corp. USA 2004-05-05 Annual 74955W307 1.2 Elect Director Carol J. Parry M For For R.H. Donnelley Corp. USA 2004-05-05 Annual 74955W307 1.3 Elect Director Barry Lawson Williams M For For R.H. Donnelley Corp. USA 2004-05-05 Annual 74955W307 2 Ratify Auditors M For For R.H. Donnelley Corp. USA 2004-05-05 Annual 74955W307 3 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote Sealed Air Corp. USA 2004-05-05 Annual 81211K100 1.1 Elect Director Hank Brown M For For Sealed Air Corp. USA 2004-05-05 Annual 81211K100 1.2 Elect Director Michael Chu M For For Sealed Air Corp. USA 2004-05-05 Annual 81211K100 1.3 Elect Director Lawrence R. M For For Codey Sealed Air Corp. USA 2004-05-05 Annual 81211K100 1.4 Elect Director T.J. Dermot M For For Dunphy Sealed Air Corp. USA 2004-05-05 Annual 81211K100 1.5 Elect Director Charles F. M For For Farrell, Jr. Sealed Air Corp. USA 2004-05-05 Annual 81211K100 1.6 Elect Director William V. M For For Hickey Sealed Air Corp. USA 2004-05-05 Annual 81211K100 1.7 Elect Director Kenneth P. M For For Manning Sealed Air Corp. USA 2004-05-05 Annual 81211K100 1.8 Elect Director William J. M For For Marino Sealed Air Corp. USA 2004-05-05 Annual 81211K100 2 Ratify Auditors M For For Freeport-McMoRan Copper & Gold Inc. USA 2004-05-06 Annual 35671D857 1.1 Elect Director Robert J. M For For Allison, Jr. Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Freeport-McMoRan Copper & Gold Inc. USA 2004-05-06 Annual 35671D857 1.2 Elect Director R. Leigh M For Withhold Clifford Freeport-McMoRan Copper & Gold Inc. USA 2004-05-06 Annual 35671D857 1.3 Elect Director James R. M For For Moffett Freeport-McMoRan Copper & Gold Inc. USA 2004-05-06 Annual 35671D857 1.4 Elect Director B. M. Rankin, M For For Jr. Freeport-McMoRan Copper & Gold Inc. USA 2004-05-06 Annual 35671D857 1.5 Elect Director J. Taylor M For For Wharton Freeport-McMoRan Copper & Gold Inc. USA 2004-05-06 Annual 35671D857 2 Ratify Auditors M For For Freeport-McMoRan Copper & Gold Inc. USA 2004-05-06 Annual 35671D857 3 Approve Non-Employee Director M For For Omnibus Stock Plan Freeport-McMoRan Copper & Gold Inc. USA 2004-05-06 Annual 35671D857 4 Halt Payments to Indonesian S Against Against Military NTL Incorporated USA 2004-05-06 Annual 62940M104 1.1 Elect Director Jeffrey D. M For For Benjamin NTL Incorporated USA 2004-05-06 Annual 62940M104 1.2 Elect Director David Elstein M For For NTL Incorporated USA 2004-05-06 Annual 62940M104 2 Ratify Auditors M For For NTL Incorporated USA 2004-05-06 Annual 62940M104 3 Amend Omnibus Stock Plan M For For NTL Incorporated USA 2004-05-06 Annual 62940M104 4 Approve Executive Incentive M For For Bonus Plan NTL Incorporated USA 2004-05-06 Annual 62940M104 5 Approve Share Plan Grant M For For Ecolab, Inc. USA 2004-05-07 Annual 278865100 1.1 Elect Director Richard U. De M For For Schutter Ecolab, Inc. USA 2004-05-07 Annual 278865100 1.2 Elect Director William L. Jews M For For Ecolab, Inc. USA 2004-05-07 Annual 278865100 1.3 Elect Director Joel W. Johnson M For For Ecolab, Inc. USA 2004-05-07 Annual 278865100 1.4 Elect Director Ulrich Lehner M For For Ecolab, Inc. USA 2004-05-07 Annual 278865100 1.5 Elect Director Beth M. M For For Pritchard Ecolab, Inc. USA 2004-05-07 Annual 278865100 2 Amend Executive Incentive Bonus M For For Plan Ecolab, Inc. USA 2004-05-07 Annual 278865100 3 Approve Employee Stock Purchase M For For Plan Ecolab, Inc. USA 2004-05-07 Annual 278865100 4 Ratify Auditors M For For Zimmer Holdings Inc USA 2004-05-10 Annual 98956P102 1.1 Elect Director Larry C. M For Withhold Glasscock Zimmer Holdings Inc USA 2004-05-10 Annual 98956P102 1.2 Elect Director John L. M For Withhold McGoldrick Zimmer Holdings Inc USA 2004-05-10 Annual 98956P102 2 Submit Shareholder Rights Plan S Against For (Poison Pill) to Shareholder Vote Zimmer Holdings Inc USA 2004-05-10 Annual 98956P102 3 Ratify Auditors S Against For Stericycle, Inc. USA 2004-05-11 Annual 858912108 1.1 Elect Director Jack W. Schuler M For For Stericycle, Inc. USA 2004-05-11 Annual 858912108 1.2 Elect Director Mark C. Miller M For For Stericycle, Inc. USA 2004-05-11 Annual 858912108 1.3 Elect Director John P. M For For Connaughton Stericycle, Inc. USA 2004-05-11 Annual 858912108 1.4 Elect Director Rod F. Dammeyer M For For Stericycle, Inc. USA 2004-05-11 Annual 858912108 1.5 Elect Director Patrick F. M For For Graham Stericycle, Inc. USA 2004-05-11 Annual 858912108 1.6 Elect Director John Patience M For For Stericycle, Inc. USA 2004-05-11 Annual 858912108 1.7 Elect Director Thomas R. M For For Reusche Stericycle, Inc. USA 2004-05-11 Annual 858912108 1.8 Elect Director Peter Vardy M For For Stericycle, Inc. USA 2004-05-11 Annual 858912108 1.9 Elect Director L. John M For For Wilkerson, Ph.D. Stericycle, Inc. USA 2004-05-11 Annual 858912108 2 Ratify Auditors M For For Stericycle, Inc. USA 2004-05-11 Annual 858912108 3 Report on Waste Incineration S Against Against Kinder Morgan, Inc. USA 2004-05-11 Annual 49455P101 1.1 Elect Director Charles W. M For Withhold Battey Kinder Morgan, Inc. USA 2004-05-11 Annual 49455P101 1.2 Elect Director H. A. True, III M For For Kinder Morgan, Inc. USA 2004-05-11 Annual 49455P101 1.3 Elect Director Fayez Sarofim M For For Kinder Morgan, Inc. USA 2004-05-11 Annual 49455P101 2 Ratify Auditors M For For Kinder Morgan, Inc. USA 2004-05-11 Annual 49455P101 3 Amend Stock Option Plan M For For Kinder Morgan, Inc. USA 2004-05-11 Annual 49455P101 4 Prepare a Sustainability Report S Against Against Kinder Morgan, Inc. USA 2004-05-11 Annual 49455P101 5 Expense Stock Options S Against For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Altera Corp. USA 2004-05-11 Annual 021441100 1.1 Elect Director John P. Daane M For For Altera Corp. USA 2004-05-11 Annual 021441100 1.2 Elect Director Robert W. Reed M For For Altera Corp. USA 2004-05-11 Annual 021441100 1.3 Elect Director Charles M. M For For Clough Altera Corp. USA 2004-05-11 Annual 021441100 1.4 Elect Director Robert J. M For For Finocchio Jr Altera Corp. USA 2004-05-11 Annual 021441100 1.5 Elect Director Kevin Mcgarity M For For Altera Corp. USA 2004-05-11 Annual 021441100 1.6 Elect Director Paul Newhagen M For For Altera Corp. USA 2004-05-11 Annual 021441100 1.7 Elect Director William E. Terry M For For Altera Corp. USA 2004-05-11 Annual 021441100 1.8 Elect Director Susan Wang M For For Altera Corp. USA 2004-05-11 Annual 021441100 2 Amend Stock Option Plan M For For Altera Corp. USA 2004-05-11 Annual 021441100 3 Amend Employee Stock Purchase M For For Plan Altera Corp. USA 2004-05-11 Annual 021441100 4 Ratify Auditors M For For Altera Corp. USA 2004-05-11 Annual 021441100 5 Approve Option Expensing S Against For MGM Mirage USA 2004-05-11 Annual 552953101 1.1 Elect Director James D. Aljian M For Withhold MGM Mirage USA 2004-05-11 Annual 552953101 1.2 Elect Director Robert H. M For Withhold Baldwin MGM Mirage USA 2004-05-11 Annual 552953101 1.3 Elect Director Terry N. M For Withhold Christensen MGM Mirage USA 2004-05-11 Annual 552953101 1.4 Elect Director Willie D. Davis M For Withhold MGM Mirage USA 2004-05-11 Annual 552953101 1.5 Elect Director Alexander M. M For Withhold Haig, Jr. MGM Mirage USA 2004-05-11 Annual 552953101 1.6 Elect Director Alexis M. Herman M For For MGM Mirage USA 2004-05-11 Annual 552953101 1.7 Elect Director Roland Hernandez M For For MGM Mirage USA 2004-05-11 Annual 552953101 1.8 Elect Director Gary N. Jacobs M For Withhold MGM Mirage USA 2004-05-11 Annual 552953101 1.9 Elect Director Kirk Kerkorian M For Withhold MGM Mirage USA 2004-05-11 Annual 552953101 1.10 Elect Director J. Terrence M For Withhold Lanni MGM Mirage USA 2004-05-11 Annual 552953101 1.11 Elect Director George J. Mason M For For MGM Mirage USA 2004-05-11 Annual 552953101 1.12 Elect Director James J. Murren M For Withhold MGM Mirage USA 2004-05-11 Annual 552953101 1.13 Elect Director Ronald M. Popeil M For For MGM Mirage USA 2004-05-11 Annual 552953101 1.14 Elect Director John T. Redmond M For Withhold MGM Mirage USA 2004-05-11 Annual 552953101 1.15 Elect Director Daniel M. Wade M For Withhold MGM Mirage USA 2004-05-11 Annual 552953101 1.16 Elect Director Melvin B. Wolzinger M For For MGM Mirage USA 2004-05-11 Annual 552953101 1.17 Elect Director Alex Yemenidjian M For Withhold MGM Mirage USA 2004-05-11 Annual 552953101 2 Ratify Auditors M For For Univision Communications Inc. USA 2004-05-12 Annual 914906102 1.1 Elect Director A. Jerrold M For Withhold Perenchio Univision Communications Inc. USA 2004-05-12 Annual 914906102 1.2 Elect Director Fernando Aguirre M For For Univision Communications Inc. USA 2004-05-12 Annual 914906102 1.3 Elect Director Harold Gaba M For For Univision Communications Inc. USA 2004-05-12 Annual 914906102 1.4 Elect Director Alan F. Horn M For For Univision Communications Inc. USA 2004-05-12 Annual 914906102 1.5 Elect Director John G. Perenchio M For Withhold Univision Communications Inc. USA 2004-05-12 Annual 914906102 1.6 Elect Director Ray Rodriguez M For Withhold Univision Communications Inc. USA 2004-05-12 Annual 914906102 1.7 Elect Director McHenry T. Tichenor, Jr. M For Withhold Univision Communications Inc. USA 2004-05-12 Annual 914906102 2 Ratify Auditors M For For Univision Communications Inc. USA 2004-05-12 Annual 914906102 3 Approve Omnibus Stock Plan M For For St. Jude Medical, Inc. USA 2004-05-12 Annual 790849103 1.1 Elect Director Michael A. Rocca M For For St. Jude Medical, Inc. USA 2004-05-12 Annual 790849103 1.2 Elect Director David A. Thompson M For For St. Jude Medical, Inc. USA 2004-05-12 Annual 790849103 1.3 Elect Director Stefan K. Widensohler M For For St. Jude Medical, Inc. USA 2004-05-12 Annual 790849103 2 Ratify Auditors M For For St. Jude Medical, Inc. USA 2004-05-12 Annual 790849103 3 Approve Executive Incentive Bonus Plan M For For St. Jude Medical, Inc. USA 2004-05-12 Annual 790849103 4 Increase Authorized Common Stock M For For St. Jude Medical, Inc. USA 2004-05-12 Annual 790849103 5 Limit Executive Compensation S Against Against Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Charles River Laboratories International, Inc. USA 2004-05-12 Annual 159864107 1.1 Elect Director James C. Foster M For For Charles River Laboratories International, Inc. USA 2004-05-12 Annual 159864107 1.2 Elect Director Robert Cawthorn M For For Charles River Laboratories International, Inc. USA 2004-05-12 Annual 159864107 1.3 Elect Director Stephen D. Chubb M For For Charles River Laboratories International, Inc. USA 2004-05-12 Annual 159864107 1.4 Elect Director George E. M For For Massaro Charles River Laboratories International, Inc. USA 2004-05-12 Annual 159864107 1.5 Elect Director George M. Milne M For Withhold Charles River Laboratories International, Inc. USA 2004-05-12 Annual 159864107 1.6 Elect Director Douglas E. M For For Rogers Charles River Laboratories International, Inc. USA 2004-05-12 Annual 159864107 1.7 Elect Director Samuel O. Thier M For For Charles River Laboratories International, Inc. USA 2004-05-12 Annual 159864107 1.8 Elect Director William H. M For For Waltrip Charles River Laboratories International, Inc. USA 2004-05-12 Annual 159864107 2 Ratify Auditors M For For The Washington Post Co.USA 2004-05-13 Annual 939640108 1.1 Elect Director John L. Dotson, M For For Jr. The Washington Post Co.USA 2004-05-13 Annual 939640108 1.2 Elect Director Ronald L. Olson M For For The Washington Post Co.USA 2004-05-13 Annual 939640108 1.3 Elect Director Alice M. Rivlin M For For The Washington Post Co.USA 2004-05-13 Annual 939640108 2 Other Business M For Against Gentex Corp. USA 2004-05-13 Annual 371901109 1.1 Elect Director John Mulder M For For Gentex Corp. USA 2004-05-13 Annual 371901109 1.2 Elect Director Frederick Sotok M For For Gentex Corp. USA 2004-05-13 Annual 371901109 1.3 Elect Director Wallace Tsuha M For For Gentex Corp. USA 2004-05-13 Annual 371901109 2 Amend Stock Option Plan M For For Gentex Corp. USA 2004-05-13 Annual 371901109 3 Increase Authorized Common Stock M For For Gentex Corp. USA 2004-05-13 Annual 371901109 4 Ratify Auditors M For For Westwood One, Inc. USA 2004-05-13 Annual 961815107 1.1 Elect Director Norman J. Pattiz M For For Westwood One, Inc. USA 2004-05-13 Annual 961815107 1.2 Elect Director Mel Karmazin M For For Westwood One, Inc. USA 2004-05-13 Annual 961815107 1.3 Elect Director Joseph B. Smith M For For Westwood One, Inc. USA 2004-05-13 Annual 961815107 1.4 Elect Director Dennis F. Holt M For For Westwood One, Inc. USA 2004-05-13 Annual 961815107 1.5 Elect Director Shane Coppola M For For Westwood One, Inc. USA 2004-05-13 Annual 961815107 2 Ratify Auditors M For For SunGard Data Systems Inc. USA 2004-05-14 Annual 867363103 1.1 Elect Director Gregory S. M For For Bentley SunGard Data Systems Inc. USA 2004-05-14 Annual 867363103 1.2 Elect Director Michael C. M For For Brooks SunGard Data Systems Inc. USA 2004-05-14 Annual 867363103 1.3 Elect Director Cristobal Conde M For For SunGard Data Systems Inc. USA 2004-05-14 Annual 867363103 1.4 Elect Director Ramon de M For For Oliveira SunGard Data Systems Inc. USA 2004-05-14 Annual 867363103 1.5 Elect Director Henry C. Duques M For For SunGard Data Systems Inc. USA 2004-05-14 Annual 867363103 1.6 Elect Director Albert A. M For For Eisenstat SunGard Data Systems Inc. USA 2004-05-14 Annual 867363103 1.7 Elect Director Bernard M For For Goldstein SunGard Data Systems Inc. USA 2004-05-14 Annual 867363103 1.8 Elect Director Janet Brutschea M For For Haugen SunGard Data Systems Inc. USA 2004-05-14 Annual 867363103 1.9 Elect Director James L. Mann M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ SunGard Data Systems Inc. USA 2004-05-14 Annual 867363103 1.10 Elect Director Malcolm I. M For For Ruddock SunGard Data Systems Inc. USA 2004-05-14 Annual 867363103 2 Ratify Auditors M For For Getty Images, Inc. USA 2004-05-17 Annual 374276103 1.1 Elect Director James N. Bailey M For For Getty Images, Inc. USA 2004-05-17 Annual 374276103 1.2 Elect Director Andrew S. Garb M For For Getty Images, Inc. USA 2004-05-17 Annual 374276103 1.3 Elect Director David Landau M For For Getty Images, Inc. USA 2004-05-17 Annual 374276103 2 Ratify Auditors M For For Lincare Holdings, Inc. USA 2004-05-17 Annual 532791100 1.1 Elect Director J.P. Byrnes M For For Lincare Holdings, Inc. USA 2004-05-17 Annual 532791100 1.2 Elect Director S.H. Altman, M For For Ph.D. Lincare Holdings, Inc. USA 2004-05-17 Annual 532791100 1.3 Elect Director C.B. Black M For For Lincare Holdings, Inc. USA 2004-05-17 Annual 532791100 1.4 Elect Director F.D. Byrne, M.D. M For For Lincare Holdings, Inc. USA 2004-05-17 Annual 532791100 1.5 Elect Director F.T. Cary M For For Lincare Holdings, Inc. USA 2004-05-17 Annual 532791100 1.6 Elect Director W.F. Miller, III M For For Lincare Holdings, Inc. USA 2004-05-17 Annual 532791100 2 Approve Omnibus Stock Plan M For For Questar Corp. USA 2004-05-18 Annual 748356102 1.1 Elect Director Teresa Beck M For For Questar Corp. USA 2004-05-18 Annual 748356102 1.2 Elect Director R.D. Cash M For For Questar Corp. USA 2004-05-18 Annual 748356102 1.3 Elect Director Robert E. M For Withhold McKee III Questar Corp. USA 2004-05-18 Annual 748356102 1.4 Elect Director Gary G. Michael M For For Questar Corp. USA 2004-05-18 Annual 748356102 1.5 Elect Director Charles B. M For For Stanley Questar Corp. USA 2004-05-18 Annual 748356102 2 Approve Executive Incentive M For For Bonus Plan Omnicare, Inc. USA 2004-05-18 Annual 681904108 1.1 Elect Director Edward L. M For For Huttonv Omnicare, Inc. USA 2004-05-18 Annual 681904108 1.2 Elect Director Joel F. Gemunder M For For Omnicare, Inc. USA 2004-05-18 Annual 681904108 1.3 Elect Director Charles H. M For For Erhart, Jr. Omnicare, Inc. USA 2004-05-18 Annual 681904108 1.4 Elect Director David W. M For For Froesel, Jr. Omnicare, Inc. USA 2004-05-18 Annual 681904108 1.5 Elect Director Sandra E. Laney M For For Omnicare, Inc. USA 2004-05-18 Annual 681904108 1.6 Elect Director Andrea R. M For For Lindell, DNSc, RN Omnicare, Inc. USA 2004-05-18 Annual 681904108 1.7 Elect Director Sheldon Margen, M For For M.D. Omnicare, Inc. USA 2004-05-18 Annual 681904108 1.8 Elect Director John H. Timoney M For For Omnicare, Inc. USA 2004-05-18 Annual 681904108 1.9 Elect Director Amy Wallman M For For Omnicare, Inc. USA 2004-05-18 Annual 681904108 2 Approve Omnibus Stock Plan M For For Omnicare, Inc. USA 2004-05-18 Annual 681904108 3 Ratify Auditors M For For The Cheesecake Factory, Inc. USA 2004-05-18 Annual 163072101 1.1 Elect Director Thomas L. M For Withhold Gregory The Cheesecake Factory, Inc. USA 2004-05-18 Annual 163072101 2 Amend Stock Option Plan M For For The Cheesecake Factory, Inc. USA 2004-05-18 Annual 163072101 3 Amend Omnibus Stock Plan M For For The Cheesecake Factory, Inc. USA 2004-05-18 Annual 163072101 4 Amend Non-Employee Director M For For Stock Option Plan Mercury Interactive Corp. USA 2004-05-19 Annual 589405109 1.1 Elect Director Amnon Landan M For For Mercury Interactive Corp. USA 2004-05-19 Annual 589405109 1.2 Elect Director Igal Kohavi M For For Mercury Interactive Corp. USA 2004-05-19 Annual 589405109 1.3 Elect Director Clyde Ostler M For For Mercury Interactive Corp. USA 2004-05-19 Annual 589405109 1.4 Elect Director Yair Shamir M For For Mercury Interactive Corp. USA 2004-05-19 Annual 589405109 1.5 Elect Director Giora Yaron M For For Mercury Interactive Corp. USA 2004-05-19 Annual 589405109 1.6 Elect Director Anthony Zingale M For For Mercury Interactive Corp. USA 2004-05-19 Annual 589405109 2 Increase Authorized Common Stock M For For Mercury Interactive Corp. USA 2004-05-19 Annual 589405109 3 Ratify Auditors M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ IDEXX Laboratories, Inc. USA 2004-05-19 Annual 45168D104 1.1 Elect Director Jonathan W. M For For Ayers IDEXX Laboratories, Inc. USA 2004-05-19 Annual 45168D104 1.2 Elect Director James L. Moody, M For For Jr. IDEXX Laboratories, Inc. USA 2004-05-19 Annual 45168D104 2 Ratify Auditors M For For Juniper Networks, Inc. USA 2004-05-19 Annual 48203R104 1.1 Elect Director Pradeep Sindhu M For For Juniper Networks, Inc. USA 2004-05-19 Annual 48203R104 1.2 Elect Director Robert M. M For For Calderoni Juniper Networks, Inc. USA 2004-05-19 Annual 48203R104 1.3 Elect Director Kenneth Levy M For Withhold Juniper Networks, Inc. USA 2004-05-19 Annual 48203R104 2 Ratify Auditors M For For Mohawk Industries, Inc.USA 2004-05-19 Annual 608190104 1.1 Elect Director Leo Benatar M For For Mohawk Industries, Inc.USA 2004-05-19 Annual 608190104 1.2 Elect Director Phyllis O. M For For Bonanno Mohawk Industries, Inc.USA 2004-05-19 Annual 608190104 1.3 Elect Director David L. Kolb M For For Mohawk Industries, Inc.USA 2004-05-19 Annual 608190104 1.4 Elect Director W. Christopher M For For Wellborn Station Casinos, Inc. USA 2004-05-19 Annual 857689103 1.1 Elect Director Lorenzo J. M For Withhold Fertitta Station Casinos, Inc. USA 2004-05-19 Annual 857689103 1.2 Elect Director Blake L. Sartini M For Withhold Station Casinos, Inc. USA 2004-05-19 Annual 857689103 1.3 Elect Director James E. Nave, M For For D.V.M. Station Casinos, Inc. USA 2004-05-19 Annual 857689103 2 Approve Executive Incentive M For For Bonus Plan Station Casinos, Inc. USA 2004-05-19 Annual 857689103 3 Ratify Auditors M For For Station Casinos, Inc. USA 2004-05-19 Annual 857689103 4 Other Business M For Against Ultra Petroleum Corp. Canada 2004-05-20 Annual 903914109 1.1 Elect Michael D. Watford as a M For For Director Ultra Petroleum Corp. Canada 2004-05-20 Annual 903914109 1.2 Elect William C. Helton as a M For For Director Ultra Petroleum Corp. Canada 2004-05-20 Annual 903914109 1.3 Elect James E. Nielson as a M For For Director Ultra Petroleum Corp. Canada 2004-05-20 Annual 903914109 1.4 Elect Robert E. Rigney as a M For For Director Ultra Petroleum Corp. Canada 2004-05-20 Annual 903914109 1.5 Elect James C. Roe as a Director M For For Ultra Petroleum Corp. Canada 2004-05-20 Annual 903914109 2 Approve Auditors and Authorize M For For Board to Fix Remuneration of Auditors Ultra Petroleum Corp. Canada 2004-05-20 Annual 903914109 3 Other Business M For Against Tiffany & Co. USA 2004-05-20 Annual 886547108 1.1 Elect Director Michael J. M For For Kowalski Tiffany & Co. USA 2004-05-20 Annual 886547108 1.2 Elect Director Rose Marie Bravo M For For Tiffany & Co. USA 2004-05-20 Annual 886547108 1.3 Elect Director William R. M For For Chaney Tiffany & Co. USA 2004-05-20 Annual 886547108 1.4 Elect Director Samuel L. M For For Hayes III Tiffany & Co. USA 2004-05-20 Annual 886547108 1.5 Elect Director Abby F. M For For Kohnstamm Tiffany & Co. USA 2004-05-20 Annual 886547108 1.6 Elect Director Charles K. M For For Marquis Tiffany & Co. USA 2004-05-20 Annual 886547108 1.7 Elect Director J. Thomas Presby M For For Tiffany & Co. USA 2004-05-20 Annual 886547108 1.8 Elect Director James E. Quinn M For For Tiffany & Co. USA 2004-05-20 Annual 886547108 1.9 Elect Director William A. M For For Shutzer Tiffany & Co. USA 2004-05-20 Annual 886547108 2 Ratify Auditors M For For CDW Corp. USA 2004-05-20 Annual 12512N105 1.1 Elect Director Michelle L. M For For Collins CDW Corp. USA 2004-05-20 Annual 12512N105 1.2 Elect Director Casey G. Cowell M For For CDW Corp. USA 2004-05-20 Annual 12512N105 1.3 Elect Director John A. M For For Edwardson CDW Corp. USA 2004-05-20 Annual 12512N105 1.4 Elect Director Daniel S. Goldin M For For CDW Corp. USA 2004-05-20 Annual 12512N105 1.5 Elect Director Donald P. Jacobs M For For CDW Corp. USA 2004-05-20 Annual 12512N105 1.6 Elect Director Michael P. M For For Krasny Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ CDW Corp. USA 2004-05-20 Annual 12512N105 1.7 Elect Director Terry L. M For For Lengfelder CDW Corp. USA 2004-05-20 Annual 12512N105 1.8 Elect Director Susan D. M For For Wellington CDW Corp. USA 2004-05-20 Annual 12512N105 1.9 Elect Director Brian E. M For For Williams CDW Corp. USA 2004-05-20 Annual 12512N105 2 Ratify Auditors M For For CDW Corp. USA 2004-05-20 Annual 12512N105 3 Approve Non-Employee Director M For For Omnibus Stock Plan INTERACTIVE DATA CORPORATION USA 2004-05-20 Annual 45840J107 1.1 Elect Director Stuart J. Clark M For Withhold INTERACTIVE DATA CORPORATION USA 2004-05-20 Annual 45840J107 1.2 Elect Director William T. M For Withhold Ethridge INTERACTIVE DATA CORPORATION USA 2004-05-20 Annual 45840J107 1.3 Elect Director John Fallon M For Withhold INTERACTIVE DATA CORPORATION USA 2004-05-20 Annual 45840J107 1.4 Elect Director William B. Gauld M For Withhold INTERACTIVE DATA CORPORATION USA 2004-05-20 Annual 45840J107 1.5 Elect Director Donald P. M For For Greenberg INTERACTIVE DATA CORPORATION USA 2004-05-20 Annual 45840J107 1.6 Elect Director Alan J. M For Withhold Hirschfield INTERACTIVE DATA CORPORATION USA 2004-05-20 Annual 45840J107 1.7 Elect Director Philip J. M For Withhold Hoffman INTERACTIVE DATA CORPORATION USA 2004-05-20 Annual 45840J107 1.8 Elect Director John C. Makinson M For Withhold INTERACTIVE DATA CORPORATION USA 2004-05-20 Annual 45840J107 1.9 Elect Director Carl Spielvogel M For For INTERACTIVE DATA CORPORATION USA 2004-05-20 Annual 45840J107 1.10 Elect Director Allan R. Tessler M For Withhold INTERACTIVE DATA CORPORATION USA 2004-05-20 Annual 45840J107 2 Ratify Auditors M For For C.H. Robinson Worldwide, Inc. USA 2004-05-20 Annual 12541W100 1.1 Elect Director D.R. Verdoorn M For For C.H. Robinson Worldwide, Inc. USA 2004-05-20 Annual 12541W100 1.2 Elect Director Michael W. M For For Wickham C.H. Robinson Worldwide, Inc. USA 2004-05-20 Annual 12541W100 2 Ratify Auditors M For For PacifiCare Health Systems, Inc. USA 2004-05-20 Annual 695112102 1.1 Elect Director Aida Alvarez M For For PacifiCare Health Systems, Inc. USA 2004-05-20 Annual 695112102 1.2 Elect Director Bradley C. Call M For For PacifiCare Health Systems, Inc. USA 2004-05-20 Annual 695112102 1.3 Elect Director Terry O. M For For Hartshorn PacifiCare Health Systems, Inc. USA 2004-05-20 Annual 695112102 1.4 Elect Director Dominic Ng M For For PacifiCare Health Systems, Inc. USA 2004-05-20 Annual 695112102 1.5 Elect Director Howard G. M For For Phanstiel PacifiCare Health Systems, Inc. USA 2004-05-20 Annual 695112102 1.6 Elect Director Warren E. M For For Pinckert Ii PacifiCare Health Systems, Inc. USA 2004-05-20 Annual 695112102 1.7 Elect Director David A. Reed M For For PacifiCare Health Systems, Inc. USA 2004-05-20 Annual 695112102 1.8 Elect Director Charles R. M For For Rinehart PacifiCare Health Systems, Inc. USA 2004-05-20 Annual 695112102 1.9 Elect Director Linda Rosenstock M For For PacifiCare Health Systems, Inc. USA 2004-05-20 Annual 695112102 1.10 Elect Director Lloyd E. Ross M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ PacifiCare Health Systems, Inc. USA 2004-05-20 Annual 695112102 2 Amend Employee Stock Purchase M For For Plan PacifiCare Health Systems, Inc. USA 2004-05-20 Annual 695112102 3 Ratify Auditors M For For Citadel Broadcasting Corp USA 2004-05-24 Annual 17285T106 1.1 Elect Director David W. M For For Checketts Citadel Broadcasting Corp USA 2004-05-24 Annual 17285T106 1.2 Elect Director J. Anthony M For Withhold Forstmann Citadel Broadcasting Corp USA 2004-05-24 Annual 17285T106 1.3 Elect Director Charles P. Rose, M For For Jr. Citadel Broadcasting Corp USA 2004-05-24 Annual 17285T106 2 Ratify Auditors M For For DaVita Inc. USA 2004-05-24 Annual 23918K108 1.1 Elect Director Nancy-Ann M For For Deparle DaVita Inc. USA 2004-05-24 Annual 23918K108 1.2 Elect Director Richard B. M For For Fontaine DaVita Inc. USA 2004-05-24 Annual 23918K108 1.3 Elect Director Peter T. Grauer M For For DaVita Inc. USA 2004-05-24 Annual 23918K108 1.4 Elect Director Michele J. M For For Hooper DaVita Inc. USA 2004-05-24 Annual 23918K108 1.5 Elect Director C. Raymond M For Withhold Larkin, Jr. DaVita Inc. USA 2004-05-24 Annual 23918K108 1.6 Elect Director John M. Nehra M For For DaVita Inc. USA 2004-05-24 Annual 23918K108 1.7 Elect Director William L. Roper M For For DaVita Inc. USA 2004-05-24 Annual 23918K108 1.8 Elect Director Kent J. Thiry M For For Community Health Systems, Inc. USA 2004-05-25 Annual 203668108 1.1 Elect Director W. Larry Cash M For For Community Health Systems, Inc. USA 2004-05-25 Annual 203668108 1.2 Elect Director J. Anthony M For For Forstmann Community Health Systems, Inc. USA 2004-05-25 Annual 203668108 1.3 Elect Director Harvey Klein, M For For M.D. Community Health Systems, Inc. USA 2004-05-25 Annual 203668108 1.4 Elect Director H. Mitchell M For For Watson, Jr. Community Health Systems, Inc. USA 2004-05-25 Annual 203668108 2 Approve Executive Incentive M For For Bonus Plan Community Health Systems, Inc. USA 2004-05-25 Annual 203668108 3 Ratify Auditors M For For Community Health Systems, Inc. USA 2004-05-25 Annual 203668108 4 Separate Chairman and CEO S Against Against Positions Gilead Sciences, Inc. USA 2004-05-25 Annual 375558103 1.1 Elect Director Paul Berg M For For Gilead Sciences, Inc. USA 2004-05-25 Annual 375558103 1.2 Elect Director Etienne F. M For For Davignon Gilead Sciences, Inc. USA 2004-05-25 Annual 375558103 1.3 Elect Director James M. Denny M For For Gilead Sciences, Inc. USA 2004-05-25 Annual 375558103 1.4 Elect Director John C. Martin M For For Gilead Sciences, Inc. USA 2004-05-25 Annual 375558103 1.5 Elect Director Gordon E. Moore M For For Gilead Sciences, Inc. USA 2004-05-25 Annual 375558103 1.6 Elect Director Nicholas G. M For For Moore Gilead Sciences, Inc. USA 2004-05-25 Annual 375558103 1.7 Elect Director George P. Shultz M For For Gilead Sciences, Inc. USA 2004-05-25 Annual 375558103 1.8 Elect Director Gayle E. Wilson M For For Gilead Sciences, Inc. USA 2004-05-25 Annual 375558103 2 Ratify Auditors M For For Gilead Sciences, Inc. USA 2004-05-25 Annual 375558103 3 Approve Omnibus Stock Plan M For For Gilead Sciences, Inc. USA 2004-05-25 Annual 375558103 4 Increase Authorized Common Stock M For For Royal Caribbean Cruises Ltd. Liberia 2004-05-25 Annual V7780T103 1.1 Elect Director Tor B. Arneberg M For For Royal Caribbean Cruises Ltd. Liberia 2004-05-25 Annual V7780T103 1.2 Elect Director William L. M For For Kimsey Royal Caribbean Cruises Ltd. Liberia 2004-05-25 Annual V7780T103 1.3 Elect Director Gert W. Munthe M For For Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Royal Caribbean Cruises Ltd. Liberia 2004-05-25 Annual V7780T103 1.4 Elect Director Thomas J. M For For Pritzker Royal Caribbean Cruises Ltd. Liberia 2004-05-25 Annual V7780T103 2 APPROVAL OF THE AMENDED AND M For For RESTATED 2000 STOCK AWARD PLAN. Royal Caribbean Cruises Ltd. Liberia 2004-05-25 Annual V7780T103 3 RATIFICATION OF APPOINTMENT OF M For For PRICEWATERHOUSECOOPERS LLP AS THE COMPANY S INDEPENDENT ACCOUNTANTS FOR 2004. DADE BEHRING HLDGS INC USA 2004-05-26 Annual 23342J206 1.1 Elect Director N. Leigh Anderson, Ph.D. M For For DADE BEHRING HLDGS INC USA 2004-05-26 Annual 23342J206 1.2 Elect Director James G. Andress M For For DADE BEHRING HLDGS INC USA 2004-05-26 Annual 23342J206 2 Approve Omnibus Stock Plan M For For Synopsys, Inc. USA 2004-05-26 Annual 871607107 1.1 Elect Director Aart J. de Geus M For For Synopsys, Inc. USA 2004-05-26 Annual 871607107 1.2 Elect Director Andy D. Bryant M For For Synopsys, Inc. USA 2004-05-26 Annual 871607107 1.3 Elect Director Chi-Foon Chan M For For Synopsys, Inc. USA 2004-05-26 Annual 871607107 1.4 Elect Director Bruce R. Chizen M For For Synopsys, Inc. USA 2004-05-26 Annual 871607107 1.5 Elect Director Deborah A. M For For Coleman Synopsys, Inc. USA 2004-05-26 Annual 871607107 1.6 Elect Director A. Richard M For For Newton Synopsys, Inc. USA 2004-05-26 Annual 871607107 1.7 Elect Director Sasson Somekh M For Withhold Synopsys, Inc. USA 2004-05-26 Annual 871607107 1.8 Elect Director Roy Vallee M For For Synopsys, Inc. USA 2004-05-26 Annual 871607107 1.9 Elect Director Steven C. Walske M For For Synopsys, Inc. USA 2004-05-26 Annual 871607107 2 Amend Non-Employee Director M For Against Stock Option Plan Synopsys, Inc. USA 2004-05-26 Annual 871607107 3 Ratify Auditors M For For Crown Castle International Corp. USA 2004-05-26 Annual 228227104 1.1 Elect Director Randall A. Hack M For For Crown Castle International Corp. USA 2004-05-26 Annual 228227104 1.2 Elect Director Edward C. Hutcheson, Jr. M For For Crown Castle International Corp. USA 2004-05-26 Annual 228227104 1.3 Elect Director J. Landis Martin M For For Crown Castle International Corp. USA 2004-05-26 Annual 228227104 2 Approve Omnibus Stock Plan M For For Crown Castle International Corp. USA 2004-05-26 Annual 228227104 3 Ratify Auditors M For For Crown Castle International Corp. USA 2004-05-26 Annual 228227104 4 Implement MacBride Principles S Against Against Cognizant Technology Solutions Corp. USA 2004-05-26 Annual 192446102 1.1 Elect Director Lakshmi M For For Narayanan Cognizant Technology Solutions Corp. USA 2004-05-26 Annual 192446102 1.2 Elect Director John E. Klein M For For Cognizant Technology Solutions Corp. USA 2004-05-26 Annual 192446102 2 Increase Authorized Common Stock M For For and Eliminate Class of Common Stock Cognizant Technology Solutions Corp. USA 2004-05-26 Annual 192446102 3 Amend Omnibus Stock Plan M For Against Cognizant Technology Solutions Corp. USA 2004-05-26 Annual 192446102 4 Approve Employee Stock Purchase M For For Plan Cognizant Technology Solutions Corp. USA 2004-05-26 Annual 192446102 5 Ratify Auditors M For For Amphenol Corp. USA 2004-05-26 Annual 032095101 1.1 Elect Director Andrew E. Lietz M For For Amphenol Corp. USA 2004-05-26 Annual 032095101 1.2 Elect Director Martin H. M For For Loeffler Amphenol Corp. USA 2004-05-26 Annual 032095101 1.3 Elect Director Michael W. M For For Michelson Amphenol Corp. USA 2004-05-26 Annual 032095101 2 Ratify Auditors M For For Amphenol Corp. USA 2004-05-26 Annual 032095101 3 Increase Authorized Common Stock M For For Amphenol Corp. USA 2004-05-26 Annual 032095101 4 Approve Non-Employee Director M For For Stock Option Plan Amphenol Corp. USA 2004-05-26 Annual 032095101 5 Approve Executive Incentive M For For Bonus Plan Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Genzyme Corp. USA 2004-05-27 Annual 372917104 1.1 Elect Director Douglas A. M For For Berthiaume Genzyme Corp. USA 2004-05-27 Annual 372917104 1.2 Elect Director Henry E. Blair M For For Genzyme Corp. USA 2004-05-27 Annual 372917104 1.3 Elect Director Gail K. M For For Boudreaux Genzyme Corp. USA 2004-05-27 Annual 372917104 2 Amend Employee Stock Purchase M For For Plan Genzyme Corp. USA 2004-05-27 Annual 372917104 3 Approve Stock Option Plan M For For Genzyme Corp. USA 2004-05-27 Annual 372917104 4 Amend Non-Employee Director M For For Stock Option Plan Genzyme Corp. USA 2004-05-27 Annual 372917104 5 Increase Authorized Preferred M For Against Stock Genzyme Corp. USA 2004-05-27 Annual 372917104 6 Ratify Auditors M For For Genzyme Corp. USA 2004-05-27 Annual 372917104 7 Limit Awards to Executives S Against Against Iron Mountain Inc. USA 2004-05-27 Annual 462846106 1.1 Elect Director Clarke H. Bailey M For For Iron Mountain Inc. USA 2004-05-27 Annual 462846106 1.2 Elect Director Constantin R. M For For Boden Iron Mountain Inc. USA 2004-05-27 Annual 462846106 1.3 Elect Director Kent P. Dauten M For For Iron Mountain Inc. USA 2004-05-27 Annual 462846106 1.4 Elect Director B. Thomas M For For Golisano Iron Mountain Inc. USA 2004-05-27 Annual 462846106 1.5 Elect Director John F. Kenny, M For For Jr. Iron Mountain Inc. USA 2004-05-27 Annual 462846106 1.6 Elect Director Arthur D. Little M For For Iron Mountain Inc. USA 2004-05-27 Annual 462846106 1.7 Elect Director C. Richard Reese M For For Iron Mountain Inc. USA 2004-05-27 Annual 462846106 1.8 Elect Director Vincent J. Ryan M For For Iron Mountain Inc. USA 2004-05-27 Annual 462846106 2 Increase Authorized Common Stock M For For Iron Mountain Inc. USA 2004-05-27 Annual 462846106 3 Amend Omnibus Stock Plan M For For XM Satellite Radio Holdings Inc. USA 2004-05-27 Annual 983759101 1.1 Elect Director Gary M. Parsons M For For XM Satellite Radio Holdings Inc. USA 2004-05-27 Annual 983759101 1.2 Elect Director Hugh Panero M For For XM Satellite Radio Holdings Inc. USA 2004-05-27 Annual 983759101 1.3 Elect Director Nathaniel A. M For For Davis XM Satellite Radio Holdings Inc. USA 2004-05-27 Annual 983759101 1.4 Elect Director Thomas J. M For For Donohue XM Satellite Radio Holdings Inc. USA 2004-05-27 Annual 983759101 1.5 Elect Director Thomas G. M For Withhold Elliott XM Satellite Radio Holdings Inc. USA 2004-05-27 Annual 983759101 1.6 Elect Director George W. M For For Haywood XM Satellite Radio Holdings Inc. USA 2004-05-27 Annual 983759101 1.7 Elect Director Chester A. M For For Huber, Jr. XM Satellite Radio Holdings Inc. USA 2004-05-27 Annual 983759101 1.8 Elect Director Jarl Mohn M For For XM Satellite Radio Holdings Inc. USA 2004-05-27 Annual 983759101 1.9 Elect Director Pierce J. M For For Roberts, Jr. XM Satellite Radio Holdings Inc. USA 2004-05-27 Annual 983759101 1.10 Elect Director Jack Shaw M For For Inamed Corp. USA 2004-05-27 Annual 453235103 1.1 Elect Director Nicholas L. Teti M For For Inamed Corp. USA 2004-05-27 Annual 453235103 1.2 Elect Director James E. Bolin M For For Inamed Corp. USA 2004-05-27 Annual 453235103 1.3 Elect Director Malcolm R. M For Withhold Currie, Ph.D. Inamed Corp. USA 2004-05-27 Annual 453235103 1.4 Elect Director John C. Miles II M For For Inamed Corp. USA 2004-05-27 Annual 453235103 1.5 Elect Director Mitchell S. M For For Rosenthal, M.D. Inamed Corp. USA 2004-05-27 Annual 453235103 1.6 Elect Director Joy A. Amundson M For For Inamed Corp. USA 2004-05-27 Annual 453235103 1.7 Elect Director Terry E. M For For Vandewarker Inamed Corp. USA 2004-05-27 Annual 453235103 2 Increase Authorized Common Stock M For For Inamed Corp. USA 2004-05-27 Annual 453235103 3 Approve Stock Option Plan M For For Inamed Corp. USA 2004-05-27 Annual 453235103 4 Amend Restricted Stock Plan M For For Inamed Corp. USA 2004-05-27 Annual 453235103 5 Ratify Auditors M For For Inamed Corp. USA 2004-05-27 Annual 453235103 6 Other Business M For Against Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Phelps Dodge Corp. USA 2004-05-28 Annual 717265102 1.1 Elect Director Marie L. Knowles M For For Phelps Dodge Corp. USA 2004-05-28 Annual 717265102 1.2 Elect Director Jon C. Madonna M For For Phelps Dodge Corp. USA 2004-05-28 Annual 717265102 1.3 Elect Director Gordon R. Parker M For For Phelps Dodge Corp. USA 2004-05-28 Annual 717265102 1.4 Elect Director Robert D. M For For Johnson Phelps Dodge Corp. USA 2004-05-28 Annual 717265102 2 Cease Charitable Contributions S Against Against Marvell Technology Group Ltd Bermuda 2004-05-28 Annual G5876H105 1.1 Elect Director Dr. John M. M For For Cioffi, Phd Marvell Technology Group Ltd Bermuda 2004-05-28 Annual G5876H105 1.2 Elect Director Dr. Paul R. M For For Gray, Ph.D. Marvell Technology Group Ltd Bermuda 2004-05-28 Annual G5876H105 1.3 Elect Director Douglas King M For For Marvell Technology Group Ltd Bermuda 2004-05-28 Annual G5876H105 2 Ratify Auditors M For For Marvell Technology Group Ltd Bermuda 2004-05-28 Annual G5876H105 3 TO AUTHORIZE THE BOARD OF M For For DIRECTORS TO FIX THE AUDITORS REMUNERATION FOR THE 2005 FISCAL YEAR ENDING JANUARY 29, 2005. Marvell Technology Group Ltd Bermuda 2004-05-28 Annual G5876H105 4 TO APPROVE AN INCREASE TO THE M For For COMPANY S AUTHORIZED SHARE CAPITAL. PETsMART USA 2004-06-10 Annual 716768106 1.1 Elect Director Barbara A. M For For Munder PETsMART USA 2004-06-10 Annual 716768106 1.2 Elect Director Thomas G. M For For Stemberg PETsMART USA 2004-06-10 Annual 716768106 1.3 Elect Director Nancy J. Pedot M For For PETsMART USA 2004-06-10 Annual 716768106 1.4 Elect Director Jeffery W. M For For Yabuki PETsMART USA 2004-06-10 Annual 716768106 1.5 Elect Director Rita V. Foley M For For PETsMART USA 2004-06-10 Annual 716768106 2 Ratify Auditors M For For Varian Medical Systems Inc USA 2004-06-10 Special 92220P105 1 Increase Authorized Common Stock M For For Celgene Corp. USA 2004-06-15 Annual 151020104 1.1 Elect Director John W. Jackson M For For Celgene Corp. USA 2004-06-15 Annual 151020104 1.2 Elect Director Sol J. Barer, M For For Ph.D. Celgene Corp. USA 2004-06-15 Annual 151020104 1.3 Elect Director Robert J. Hugin M For For Celgene Corp. USA 2004-06-15 Annual 151020104 1.4 Elect Director Jack L. Bowman M For For Celgene Corp. USA 2004-06-15 Annual 151020104 1.5 Elect Director Frank T. Cary M For For Celgene Corp. USA 2004-06-15 Annual 151020104 1.6 Elect Director Michael D. Casey M For For Celgene Corp. USA 2004-06-15 Annual 151020104 1.7 Elect Director A. Hull Hayes, M For For Jr, M.D. Celgene Corp. USA 2004-06-15 Annual 151020104 1.8 Elect Director Gilla Kaplan, M For For Ph.D. Celgene Corp. USA 2004-06-15 Annual 151020104 1.9 Elect Director Richard C.E. M For For Morgan Celgene Corp. USA 2004-06-15 Annual 151020104 1.10 Elect Director Walter L. Robb, M For For Ph.D. Celgene Corp. USA 2004-06-15 Annual 151020104 2 Increase Authorized Common Stock M For For Celgene Corp. USA 2004-06-15 Annual 151020104 3 Ratify Auditors M For For BIOGEN IDEC INC USA 2004-06-16 Annual 09062X103 1.1 Elect Director Alan Belzer M For For BIOGEN IDEC INC USA 2004-06-16 Annual 09062X103 1.2 Elect Director Mary L. Good M For For BIOGEN IDEC INC USA 2004-06-16 Annual 09062X103 1.3 Elect Director James C. Mullen M For For BIOGEN IDEC INC USA 2004-06-16 Annual 09062X103 1.4 Elect Director Bruce R. Ross M For For BIOGEN IDEC INC USA 2004-06-16 Annual 09062X103 2 Ratify Auditors M For For Shire Pharmaceuticals United Group Plc Kingdom 2004-06-16 Annual 82481R106 1 TO RECEIVE AND CONSIDER THE M For For DIRECTORS REPORT AND ACCOUNTS FOR THE YEAR ENDED DECEMBER 31, 2003. Shire Pharmaceuticals United Group Plc Kingdom 2004-06-16 Annual 82481R106 2 TO RE-ELECT DR JAMES HENRY M For For CAVANAUGH AS A DIRECTOR. Shire Pharmaceuticals United Group Plc Kingdom 2004-06-16 Annual 82481R106 3 TO RE-ELECT DR BARRY JOHN PRICE M For For AS A DIRECTOR. Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Shire Pharmaceuticals United Group Plc Kingdom 2004-06-16 Annual 82481R106 4 TO ELECT MR ROBIN WILLIAM M For For TURNBULL BUCHANAN AS A DIRECTOR. Shire Pharmaceuticals United Group Plc Kingdom 2004-06-16 Annual 82481R106 5 TO ELECT MR DAVID JOHN KAPPLER M For For AS A DIRECTOR. Shire Pharmaceuticals United Group Plc Kingdom 2004-06-16 Annual 82481R106 6 Ratify Auditors M For For Shire Pharmaceuticals United Group Plc Kingdom 2004-06-16 Annual 82481R106 7 TO APPROVE THE DIRECTORS M For For REMUNERATION REPORT. Shire Pharmaceuticals United Group Plc Kingdom 2004-06-16 Annual 82481R106 8 TO AUTHORIZE THE ALLOTMENT OF M For For SHARES. Shire Pharmaceuticals United Group Plc Kingdom 2004-06-16 Annual 82481R106 9 TO AUTHORIZE THE DISAPPLICATION M For For OF PRE-EMPTION RIGHTS. Shire Pharmaceuticals United Group Plc Kingdom 2004-06-16 Annual 82481R106 10 TO AUTHORIZE MARKET PURCHASES. M For For Shire Pharmaceuticals United Group Plc Kingdom 2004-06-16 Annual 82481R106 11 TO AUTHORIZE DONATIONS TO EU M For For POLITICAL ORGANIZATIONS AND EU POLITICAL EXPENDITURE. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 1 TO RECEIVE AND CONSIDER THE M For For FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2003 TOGETHER WITH THE REPORTS OF THE DIRECTORS AND AUDITORS THEREON. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 2 TO RE-ELECT MR. BRENDAN BOUSHEL M For For WHO RETIRES FROM THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 3 TO RE-ELECT MR. JOHN GROOM WHO M For For RETIRES FROM THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 4 TO RE-ELECT MR. KYRAN MCLAUGHLIN M For For WHO RETIRES FROM THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 5 TO RE-ELECT DR. DENNIS SELKOE M For For WHO RETIRES FROM THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 6 TO RE-ELECT MR. DANIEL TULLY WHO M For For RETIRES FROM THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 7 TO AUTHORISE THE DIRECTORS TO M For For FIX THE REMUNERATION OF THE AUDITORS. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 8 THAT THE BOARD OF DIRECTORS BE M For Against AUTHORISED TO ISSUE SHARE OPTIONS TO NON-EXECUTIVE DIRECTORS IN ACCORDANCE WITH THE TERMS OF THE ELAN CORPORATION, PLC 1996 CONSULTANT OPTION PLAN. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 9 THAT THE ELAN CORPORATION, PLC M For Against 2004 RESTRICTED STOCK PLAN (THE RSU PLAN) BE APPROVED AND ADOPTED. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 10 THAT THE ELAN CORPORATION, PLC M For For EMPLOYEE EQUITY PURCHASE PLAN (THE ESPP) BE APPROVED AND ADOPTED. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 11 THAT THE DIRECTORS BE AND ARE M For For HEREBY GENERALLY AND UNCONDITIONALLY AUTHORISED TO ALLOT AND ISSUE ALL RELEVANT SECURITIES OF THE COMPANY. Mgmt - Company Management Recommended Vote M - Management S - Shareholder VOTE SUMMARY REPORT July 01, 2003 - June 30, 2004 PF VAN KAMPEN MID-CAP GROWTH FUND Mtg Mtg Security Ballot Item Mgmt Vote Company Country Date Type Type Issues Description Prpnent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 12 THAT THE AUTHORISED SHARE M For For CAPITAL OF THE COMPANY BE INCREASED FROM 30,002,500 TO 33,502,500. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 13 THAT, SUBJECT TO THE PASSING OF M For For RESOLUTION 12 IN THE NOTICE OF THIS MEETING, THE ARTICLES OF ASSOCIATION BE AMENDED. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 14 THAT, SUBJECT TO THE PASSING OF M For For RESOLUTION 11 IN THE NOTICE OF THE MEETING, THE DIRECTORS BE AND ARE HEREBY EMPOWERED TO ALLOT SECURITIES FOR CASH. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 15 THAT THE COMPANY AND/OR ANY SUBSIDIARY OF THE COMPANY BE AND M For For IS HEREBY GENERALLY AUTHORIZED TO MAKE MARKET PURCHASES OF SHARES OF ANY CLASS OF THE COMPANY. Elan Corporation Plc Ireland 2004-06-17 Annual 284131208 16 THAT THE RE-ISSUE PRICE RANGE AT M For For WHICH ANY TREASURY SHARES FOR THE TIME BEING HELD BY THE COMPANY MAY BE RE-ISSUED OFF- MARKET SHALL BE THE MAXIMUM PRICE EQUAL TO 120 PER CENT OF THE RELEVANT PRICE; AND THE MINIMUM PRICE EQUAL TO 95 PER CENT OF THE RELEVA Chico's FAS, Inc. USA 2004-06-22 Annual 168615102 1.1 Elect Director Helene B. M For For Gralnick Chico's FAS, Inc. USA 2004-06-22 Annual 168615102 1.2 Elect Director Verna K. Gibson M For For Chico's FAS, Inc. USA 2004-06-22 Annual 168615102 1.3 Elect Director Betsy S. Atkins M For For Chico's FAS, Inc. USA 2004-06-22 Annual 168615102 1.4 Elect Director Scott A. Edmonds M For For Chico's FAS, Inc. USA 2004-06-22 Annual 168615102 2 Change Range for Size of the M For For Board Chico's FAS, Inc. USA 2004-06-22 Annual 168615102 3 Amend Employee Stock Purchase M For For Plan Chico's FAS, Inc. USA 2004-06-22 Annual 168615102 4 Ratify Auditors M For For Laureate Education Inc.USA 2004-06-25 Annual 871399101 1.1 Elect Director Douglas L. M For For Becker Laureate Education Inc.USA 2004-06-25 Annual 871399101 1.2 Elect Director James H. McGuire M For For Laureate Education Inc.USA 2004-06-25 Annual 871399101 1.3 Elect Director Richard W. Riley M For For Laureate Education Inc.USA 2004-06-25 Annual 871399101 2 Ratify Auditors M For For