FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: ING CLARION GLOBAL REAL ESTATE INCOME FUND ------------------------------------------------------------------------- (Exact name of registrant as specified in charter) 259 N. RADNOR-CHESTER ROAD, RADNOR, PA 19087 ------------------------------------------------------------------------- (Address of principal executive offices) T. Ritson Ferguson, President 259 N. Radnor-Chester Road, Second Floor, Radnor, PA 19087 ------------------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: Date of Fiscal year-end: 12/31/2005 Date of reporting period: 7/1/2004 - 6/30/2005 Item 1. Proxy Voting Record Account Number: cefglob ING Clarion Global Real Estate Income Fund ISSUER NAME TICKER CUSIP MTG DATE MTG TYPE Proposal Type Voted? Vote For/Agnst Mgmt Affordable Residential Communities Inc 008273203 6/30/05 Annual 1.01 Elect Scott D. Jackson MGMT YES FOR FOR 1.02 Elect John G. Sprengle MGMT YES FOR FOR 1.03 Elect Joris Brinkerhoff MGMT YES FOR FOR 1.04 Elect Gerald J. Ford MGMT YES FOR FOR 1.05 Elect J. Markham Green MGMT YES FOR FOR 1.06 Elect Michael Greene MGMT YES FOR FOR 1.07 Elect James F. Kimsey MGMT YES FOR FOR 1.08 Elect Eugene Mercy Jr. MGMT YES FOR FOR 1.09 Elect James R. Staff MGMT YES FOR FOR 1.10 Elect Carl B. Webb MGMT YES FOR FOR 1.11 Elect Larry D. Willard MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR American Campus Communities Inc ACC 024835100 5/12/05 Annual 1.01 Elect William C. Bayless Jr. MGMT YES FOR FOR 1.02 Elect R.D. Burck MGMT YES FOR FOR 1.03 Elect G. Steven Dawson MGMT YES WHOLD AGNST 1.04 Elect Cydney Donnell MGMT YES FOR FOR 1.05 Elect Edward Lowenthal MGMT YES FOR FOR 1.06 Elect Brian B. Nickel MGMT YES FOR FOR 1.07 Elect Scott H. Rechler MGMT YES FOR FOR 1.08 Elect Winston W. Walker MGMT YES FOR FOR Amli Residential Properties Trust AML 001735109 4/25/05 Annual 1.01 Elect Bruce P. Bickner MGMT YES FOR FOR 1.02 Elect Laura D. Gates MGMT YES FOR FOR 1.03 Elect Marc S. Heilweil MGMT YES FOR FOR 1.04 Elect Gregory T. Mutz MGMT YES FOR FOR 2 Repeal classified board MGMT YES FOR FOR 3 Ratify selection of auditors MGMT YES FOR FOR Apartment Investment & Management AIV 03748R101 4/29/05 Annual 1.01 Elect Terry Considine MGMT YES FOR FOR 1.02 Elect James N. Bailey MGMT YES FOR FOR 1.03 Elect Richard S. Ellwood MGMT YES FOR FOR 1.04 Elect J. Landis Martin MGMT YES FOR FOR 1.05 Elect Thomas L. Rhodes MGMT YES FOR FOR 1.06 Elect Michael A. Stein MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR 3 Approve Executive Investment Program MGMT YES AGNST AGNST Archstone-Smith Trust ASN 039583109 5/4/05 Annual 1.01 Elect James A. Cardwell MGMT YES FOR FOR 1.02 Elect Robert P. Kogod MGMT YES FOR FOR 1.03 Elect James H. Polk III MGMT YES FOR FOR 2 Repeal classified board MGMT YES FOR FOR 3 Ratify selection of auditors MGMT YES FOR FOR Arden Realty Inc 039793104 5/25/05 Annual 1.01 Elect Richard S. Ziman MGMT YES FOR FOR 1.02 Elect Victor J. Coleman MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR 3 Adopt the Third Amended and Restated 1996 Option and Incentive Plan MGMT YES FOR FOR 4 Golden parachutes SHLDR YES FOR AGNST BNP Residential Property BNP 05564T103 5/19/05 Annual 1.01 Elect D. Scott Wilkerson MGMT YES FOR FOR 1.02 Elect Paul G. Chrysson MGMT YES FOR FOR 2 Adopt the 1994 Stock Option and Incentive Plan MGMT YES AGNST AGNST 3 Approve other business MGMT YES FOR FOR Boardwalk Real Estate Investment Trust 096631106 5/10/05 Annual 1 Elect directors - Canada MGMT YES FOR FOR 2 Elect directors - Canada MGMT YES FOR FOR 3 Elect directors - Canada MGMT YES FOR FOR 4 Elect directors - Canada MGMT YES FOR FOR 5 Elect directors - Canada MGMT YES FOR FOR 6 Elect directors - Canada MGMT YES FOR FOR 7 Elect directors - Canada MGMT YES FOR FOR 8 Appoint auditors and set their fees MGMT YES FOR FOR Boston Properties Inc BXP 101121101 5/11/05 Annual 1.01 Elect Lawrence S. Bacow MGMT YES FOR FOR 1.02 Elect Zoe Baird MGMT YES FOR FOR 1.03 Elect Alan J. Patricof MGMT YES FOR FOR 1.04 Elect Martin Turchin MGMT YES FOR FOR 2 Repeal classified board SHLDR YES FOR AGNST Brandywine Realty Trust BDN 105368203 5/2/05 Annual 1.01 Elect Walter D'Alessio MGMT YES FOR FOR 1.02 Elect D. Pike Aloian MGMT YES FOR FOR 1.03 Elect Donald E. Axinn MGMT YES FOR FOR 1.04 Elect Wyche Fowler MGMT YES FOR FOR 1.05 Elect Michael J. Joyce MGMT YES FOR FOR 1.06 Elect Anthony A. Nichols Sr. MGMT YES FOR FOR 1.07 Elect Charles P. Pizzi MGMT YES FOR FOR 1.08 Elect Gerard H. Sweeney MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR 3 Add Shares to Stock Incentive Plan MGMT YES FOR FOR Amend Stock Incentive Plan British Land Co BLND 0136701 7/16/04 Annual 1 Approve Financial Statements MGMT YES FOR FOR 2 Set Final Dividend at 10.07p MGMT YES FOR FOR 3 Elect Nicholas S. Ritblat MGMT YES FOR FOR 4 Elect Robert E. Bowden MGMT YES FOR FOR 5 Elect Derek A. Higgs MGMT YES FOR FOR 6 Elect Lord Terence (Terry) Burns MGMT YES FOR FOR 7 Appoint Outside Auditors MGMT YES FOR FOR 8 Set Auditors' Fees MGMT YES FOR FOR 9 Approve Remuneration Policy MGMT YES FOR FOR 10 Issue Stock w/ Preemptive Rights MGMT YES AGNST AGNST 11 Issue Stock w/o Preemptive Rights MGMT YES FOR FOR 12 Authorize Share Repurchase MGMT YES FOR FOR 13 Approve Stock Purchase Plan/SAYE/AESOP MGMT YES FOR FOR Brookfield Properties 112900105 4/27/05 Annual 1 Set board/supervisory board size limits MGMT YES FOR FOR 2.01 Elect Gordon E. Arnell MGMT YES FOR FOR 2.02 Elect William T. Cahill MGMT YES FOR FOR 2.03 Elect Richard B. Clark MGMT YES FOR FOR 2.04 Elect Jack L. Cockwell MGMT YES FOR FOR 2.05 Elect J. Bruce Flatt MGMT YES FOR FOR 2.06 Elect Roderick D. Fraser MGMT YES FOR FOR 2.07 Elect Lance Liebman MGMT YES FOR FOR 2.08 Elect Paul D. McFarlane MGMT YES FOR FOR 2.09 Elect Allan S. Olson MGMT YES FOR FOR 2.10 Elect Sam Pollock MGMT YES FOR FOR 2.11 Elect Robert L. Stelzl MGMT YES FOR FOR 2.12 Elect Dr. William C. Wheaton MGMT YES FOR FOR 2.13 Elect John E. Zuccotti MGMT YES FOR FOR 3 Amend articles--technical MGMT YES FOR FOR 4 Appoint auditors and set their fees MGMT YES FOR FOR Camden Property Trust 133131AH5 2/28/05 Special 1 Approve merger/acquisition MGMT YES FOR FOR Approve common stock issuance Camden Property Trust CPT 133131102 5/6/05 Annual 1.01 Elect Richard J. Campo MGMT YES FOR FOR 1.02 Elect William R. Cooper MGMT YES FOR FOR 1.03 Elect George A. Hrdlicka MGMT YES FOR FOR 1.04 Elect Scott S. Ingraham MGMT YES FOR FOR 1.05 Elect Lewis A. Levey MGMT YES WHOLD AGNST 1.06 Elect William B. McGuire Jr. MGMT YES FOR FOR 1.07 Elect William F. Paulsen MGMT YES FOR FOR 1.08 Elect D. Keith Oden MGMT YES FOR FOR 1.09 Elect F. Gardner Parker MGMT YES FOR FOR 1.10 Elect Steven A. Webster MGMT YES FOR FOR Cedar Shopping Centers CDR 150602209 5/20/05 Annual 1.01 Elect James J. Burns MGMT YES FOR FOR 1.02 Elect J.A.M.H der Kinderen MGMT YES FOR FOR 1.03 Elect Richard Homburg MGMT YES FOR FOR 1.04 Elect Everett B. Miller III MGMT YES FOR FOR 1.05 Elect Leo S. Ullman MGMT YES FOR FOR 1.06 Elect Brenda J. Walker MGMT YES FOR FOR 1.07 Elect Roger M. Widmann MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR Colonial Properties Trust CLP 195872106 4/15/05 Special 1 Approve merger/acquisition MGMT YES FOR FOR Approve common stock issuance 2 Increase authorized common stock MGMT YES FOR FOR Increase authorized preferred stock 3 Approve issuance/conversion of preferred stock MGMT YES FOR FOR 4 Adjourn meeting MGMT YES FOR FOR Colonial Properties Trust CLP 195872106 4/27/05 Annual 1.01 Elect Carl F. Bailey MGMT YES FOR FOR 1.02 Elect M. Miller Gorrie MGMT YES FOR FOR 1.03 Elect William M. Johnson MGMT YES FOR FOR 1.04 Elect Glade M. Knight MGMT YES FOR FOR 1.05 Elect James K. Lowder MGMT YES FOR FOR 1.06 Elect Thomas H. Lowder MGMT YES FOR FOR 1.07 Elect Herbert Meisler MGMT YES FOR FOR 1.08 Elect Claude B. Nielsen MGMT YES FOR FOR 1.09 Elect Harold W. Ripps MGMT YES FOR FOR 1.10 Elect Donald T. Senterfitt MGMT YES FOR FOR 1.11 Elect John W. Spiegel MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR Commercial Net Lease Realty Inc NNN 202218103 8/5/04 Annual 1.01 Elect Robert A. Bourne MGMT YES FOR FOR 1.02 Elect Kevin B. Habicht MGMT YES FOR FOR 1.03 Elect Clifford R. Hinkle MGMT YES FOR FOR 1.04 Elect Richard B. Jennings MGMT YES FOR FOR 1.05 Elect Ted B. Lanier MGMT YES FOR FOR 1.06 Elect Robert C. Legler MGMT YES FOR FOR 1.07 Elect Craig Macnab MGMT YES FOR FOR 1.08 Elect Robert Martinez MGMT YES FOR FOR 1.09 Elect James M. Seneff Jr. MGMT YES FOR FOR 2 Eliminate Supermajority Requirement MGMT YES FOR FOR 3 Increase Authorized Common Stock MGMT YES AGNST AGNST 4 Approve Non-Technical Bylaw Amendments MGMT YES FOR FOR 5 No Shareholder Approval to Fill Vacancy MGMT YES AGNST AGNST 6 Approve Non-Technical Bylaw Amendments MGMT YES FOR FOR 7 Approve Other Business MGMT YES FOR FOR Commercial Net Lease Realty Inc NNN 202218103 6/1/05 Annual 1.01 Elect Kevin B. Habicht MGMT YES FOR FOR 1.02 Elect Clifford R. Hinkle MGMT YES FOR FOR 1.03 Elect Richard B. Jennings MGMT YES FOR FOR 1.04 Elect Ted B. Lanier MGMT YES FOR FOR 1.05 Elect Robert C. Legler MGMT YES FOR FOR 1.06 Elect Craig Macnab MGMT YES FOR FOR 1.07 Elect Robert Martinez MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR 3 Approve other business MGMT YES FOR FOR Corio N2273C104 4/27/05 Annual 1 NV Opening of meeting MGMT YES FOR FOR 2 NV Receive statutory reports MGMT YES FOR FOR 3 Approve financial statements MGMT YES FOR FOR 4 NV Misc non-U.S. mgt. non-voting MGMT YES FOR FOR 5 NV Misc non-U.S. mgt. non-voting MGMT YES FOR FOR 6 Set dividend/allocate profits MGMT YES FOR FOR 7 Ratify management acts-legal MGMT YES FOR FOR 8 Ratify board acts-legal MGMT YES FOR FOR 9 NV Misc non-U.S. mgt. non-voting MGMT YES FOR FOR 10 Appoint outside auditors MGMT YES FOR FOR 11 Consider other business MGMT YES FOR FOR Deutsche Office Trust DOT 6137504 9/27/04 Special 1 Amend Articles--Technical MGMT YES FOR FOR 2 Change Management Company MGMT YES FOR FOR 3 Approve Stapling of Units MGMT YES FOR FOR 4 Approve Underwriting MGMT YES FOR FOR Approve Related Party Transactions 5 Authorize Increase in Voting Power MGMT YES FOR FOR Developers Diversified Realty Corp DDR 251591103 5/10/05 Annual 1 Approve board size MGMT YES FOR FOR 2.01 Elect Dean S. Adler MGMT YES FOR FOR 2.02 Elect Terrance R. Ahern MGMT YES FOR FOR 2.03 Elect Mohsen Anvari MGMT YES FOR FOR 2.04 Elect Robert H. Gidel MGMT YES FOR FOR 2.05 Elect Victor B. MacFarlane MGMT YES FOR FOR 2.06 Elect Craig Macnab MGMT YES FOR FOR 2.07 Elect Scott D. Roulston MGMT YES FOR FOR 2.08 Elect Barry A. Sholem MGMT YES FOR FOR 2.09 Elect William B. Summers Jr. MGMT YES FOR FOR 2.10 Elect Scott A. Wolstein MGMT YES FOR FOR 3 Ratify selection of auditors MGMT YES FOR FOR Dundee REIT 265270108 5/5/05 Annual 1 Election of directors by slate MGMT YES AGNST AGNST 2 Appoint auditors and set their fees MGMT YES FOR FOR 3 Amend dividend distribution rules MGMT YES FOR FOR 4 Amend authorized preferred stock MGMT YES FOR FOR Equity Office Properties Trust EOP 294741103 5/24/05 Annual 1.01 Elect Marilyn A. Alexander MGMT YES FOR FOR 1.02 Elect Thomas E. Dobrowski MGMT YES FOR FOR 1.03 Elect William M. Goodyear MGMT YES FOR FOR 1.04 Elect James D. Harper Jr. MGMT YES FOR FOR 1.05 Elect Richard D. Kincaid MGMT YES FOR FOR 1.06 Elect David K. McKown MGMT YES FOR FOR 1.07 Elect Sheli Z. Rosenberg MGMT YES FOR FOR 1.08 Elect Stephen I. Sadove MGMT YES FOR FOR 1.09 Elect Sally Susman MGMT YES FOR FOR 1.10 Elect Jan H.W.R. van der Vlist MGMT YES FOR FOR 1.11 Elect Samuel Zell MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR Equity Residential EQR 29476L107 5/26/05 Annual 1.01 Elect John W Alexander MGMT YES FOR FOR 1.02 Elect Charles L. Atwood MGMT YES FOR FOR 1.03 Elect Bruce W. Duncan MGMT YES FOR FOR 1.04 Elect Stephen O. Evans MGMT YES FOR FOR 1.05 Elect James D. Harper Jr. MGMT YES FOR FOR 1.06 Elect Boone A. Knox MGMT YES FOR FOR 1.07 Elect Desiree G. Rogers MGMT YES FOR FOR 1.08 Elect Sheli Z. Rosenberg MGMT YES FOR FOR 1.09 Elect Gerald A. Spector MGMT YES FOR FOR 1.10 Elect B. Joseph White MGMT YES FOR FOR 1.11 Elect Samuel Zell MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR Eurocommercial Properties 4798271 11/2/04 Annual 1 Approve Financial Statements MGMT YES FOR FOR Set Dividend at 1.50 2 Ratify Management Acts-Legal MGMT YES FOR FOR Ratify Board Acts-Legal 3 Amend Board Election Rules MGMT YES FOR FOR Amend Meeting Procedures/Change Date Amend Board Powers/Procedures/Qualifications 4 Amend Foundation's Statutes MGMT YES FOR FOR 5 Approve Remuneration Policy MGMT YES FOR FOR 6.01 Elect H.Th.M. Bevers MGMT YES FOR FOR 6.02 Elect H.W. Bolland MGMT YES FOR FOR 7.01 Elect J.P. Lewis MGMT YES FOR FOR 7.02 Elect E.J. van Garderen MGMT YES FOR FOR 8 Appoint Outside Auditors MGMT YES FOR FOR 9 Issue Stock w/ or w/o Preemptive Rights MGMT YES AGNST AGNST 10 Authorize Share Repurchase MGMT YES FOR FOR First Industrial Realty Trust 32054K103 5/18/05 Annual 1.01 Elect Michael W. Brennan MGMT YES FOR FOR 1.02 Elect Michael G. Damone MGMT YES FOR FOR 1.03 Elect Kevin W. Lynch MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR Gables Residential Trust GBP 362418105 5/17/05 Annual 1.01 Elect David D. Fitch MGMT YES FOR FOR 1.02 Elect John W. McIntyre MGMT YES FOR FOR 1.03 Elect Chris D. Wheeler MGMT YES FOR FOR Glenborough Realty Trust Inc GLB 37803P105 5/4/05 Annual 1.01 Elect Richard C. Blum MGMT YES WHOLD AGNST 1.02 Elect Richard A. Magnuson MGMT YES FOR FOR Glimcher Realty Trust 379302300 5/6/05 Annual 1.01 Elect Wayne S. Doran MGMT YES WHOLD AGNST 1.02 Elect Michael P. Glimcher MGMT YES FOR FOR 1.03 Elect Alan R. Weiler MGMT YES WHOLD AGNST 2 Ratify selection of auditors MGMT YES FOR FOR 3 Approve other business MGMT YES FOR FOR H&R Real Estate Investment Trust 403925100 6/24/05 Annual 1.01 Elect Thomas J. Hofstedter MGMT YES FOR FOR 1.02 Elect Robert E. Dickson MGMT YES FOR FOR 1.03 Elect Edward Gilbert MGMT YES FOR FOR 1.04 Elect Robert Kaplan MGMT YES FOR FOR 1.05 Elect Laurence A. Lebovic MGMT YES FOR FOR 1.06 Elect Ronald C. Rutman MGMT YES FOR FOR 2 Appoint auditors and set their fees MGMT YES FOR FOR 3 Amend articles--technical MGMT YES FOR FOR Amend board election rules 4 Amend articles--technical MGMT YES FOR FOR Hammerson G4273Q107 5/5/05 Annual 1 Approve financial statements MGMT YES FOR FOR 2 Approve remuneration policy MGMT YES FOR FOR 3 Set Dividend at 16.83p MGMT YES FOR FOR 4 Elect Robert John Richards MGMT YES FOR FOR 5 Elect R. John Barton MGMT YES FOR FOR 6 Elect John C. Clare MGMT YES FOR FOR 7 Elect Simon R. Melliss MGMT YES FOR FOR 8 Elect Graham F. Pimlott MGMT YES FOR FOR 9 Appoint outside auditors MGMT YES FOR FOR 10 Set auditors' fees MGMT YES FOR FOR 11 Issue stock w/ preemptive rights MGMT YES AGNST AGNST 12 Issue stock w/o preemptive rights MGMT YES AGNST AGNST 13 Authorize share repurchase MGMT YES FOR FOR 14 Approve stock option plan MGMT YES FOR FOR 15 Approve stock purchase plan/SAYE/AESOP MGMT YES FOR FOR 16 Approve directors' fees MGMT YES FOR FOR Health Care Property Investors Inc HCP 421915109 5/12/05 Annual 1.01 Elect Mary A. Cirillo MGMT YES FOR FOR 1.02 Elect Robert R. Fanning Jr. MGMT YES FOR FOR 1.03 Elect James F. Flaherty III MGMT YES FOR FOR 1.04 Elect David B. Henry MGMT YES FOR FOR 1.05 Elect Michael D. McKee MGMT YES FOR FOR 1.06 Elect Harold M. Messmer Jr. MGMT YES FOR FOR 1.07 Elect Peter L. Rhein MGMT YES FOR FOR 1.08 Elect Kenneth B. Roath MGMT YES FOR FOR 1.09 Elect Richard M. Rosenberg MGMT YES FOR FOR 1.10 Elect Joseph P. Sullivan MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR 3 Report or take action on climate change SHLDR YES AGNST FOR Health Care REIT HCN 42217K106 5/5/05 Annual 1.01 Elect William C. Ballard Jr. MGMT YES FOR FOR 1.02 Elect Peter J. Grua MGMT YES FOR FOR 1.03 Elect R. Scott Trumbull MGMT YES FOR FOR 2 Adopt the 2005 Long-Term Incentive Plan MGMT YES AGNST AGNST 3 Ratify selection of auditors MGMT YES FOR FOR Heritage Property Investment HTG 42725M107 5/6/05 Annual 1.01 Elect Bernard Cammarata MGMT YES FOR FOR 1.02 Elect Thomas C. Prendergast MGMT YES FOR FOR 1.03 Elect Michael J. Joyce MGMT YES FOR FOR Hersha Hospitality Trust HT 427825104 5/26/05 Annual 1.01 Elect Hasu P. Shah MGMT YES FOR FOR 1.02 Elect Michael A. Leven MGMT YES FOR FOR 1.03 Elect K. D. Patel MGMT YES FOR FOR 1.04 Elect John M. Sabin MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR Home Properties HME 437306103 5/6/05 Annual 1.01 Elect William Balderston III MGMT YES FOR FOR 1.02 Elect Josh E. Fidler MGMT YES FOR FOR 1.03 Elect Alan L. Gosule MGMT YES FOR FOR 1.04 Elect Leonard F. Helbig III MGMT YES FOR FOR 1.05 Elect Roger W. Kober MGMT YES FOR FOR 1.06 Elect Norman P. Leenhouts MGMT YES FOR FOR 1.07 Elect Nelson B. Leenhouts MGMT YES FOR FOR 1.08 Elect Edward J. Pettinella MGMT YES FOR FOR 1.09 Elect Clifford W. Smith Jr. MGMT YES FOR FOR 1.10 Elect Paul L. Smith MGMT YES FOR FOR 1.11 Elect Thomas S. Summer MGMT YES FOR FOR 1.12 Elect Amy L. Tait MGMT YES FOR FOR 2 Add Shares to Stock Incentive Plan MGMT YES AGNST AGNST 3 Amend deferred compensation plan MGMT YES FOR FOR 4 Ratify selection of auditors MGMT YES FOR FOR Hospitality Properties Trust HPT 44106M102 5/11/05 Annual 1.01 Elect John L. Harrington MGMT YES FOR FOR 1.02 Elect Barry M. Portnoy MGMT YES FOR FOR HRPT Properties Trust 40426WAP6 5/10/05 Annual 1.01 Elect Barry M. Portnoy MGMT YES FOR FOR 1.02 Elect Frederick N. Zeytoonjian MGMT YES FOR FOR InnVest Real Estate Investment Trust 45771T108 5/18/05 Annual 1.01 Elect Frank Anderson MGMT YES FOR FOR 1.02 Elect Morton Gross MGMT YES FOR FOR 1.03 Elect Michael P. Kitt MGMT YES FOR FOR 1.04 Elect Minhas Mohamed MGMT YES FOR FOR 2 Appoint outside auditors MGMT YES FOR FOR Investa Property Group 6954145 10/7/04 Annual 1 Elect John Arthur MGMT YES FOR FOR 2 Reauthorize Share Issue Limit MGMT YES ABSTAIN AGNST IStar Financial SFI 45031U101 5/25/05 Annual 1.01 Elect Jay Sugarman MGMT YES FOR FOR 1.02 Elect Willis Andersen Jr. MGMT YES FOR FOR 1.03 Elect Robert W. Holman Jr. MGMT YES FOR FOR 1.04 Elect Robin Josephs MGMT YES FOR FOR 1.05 Elect John G. McDonald MGMT YES FOR FOR 1.06 Elect George R. Puskar MGMT YES FOR FOR 1.07 Elect Jeffrey A. Weber MGMT YES FOR FOR 2 Misc. executive pay MGMT YES FOR FOR 3 Ratify selection of auditors MGMT YES FOR FOR Japan Retail Fund Investment 8953 J27544105 5/24/05 Annual 1 Indemnify directors/officers MGMT YES FOR FOR 2.01 Elect Director Nominee No. 2.1 MGMT YES FOR FOR 2.02 Elect supervisory board/corporate assembly MGMT YES FOR FOR 2.03 Elect supervisory board/corporate assembly MGMT YES FOR FOR Keystone Property Trust KTR 493596100 7/30/04 Special 1 Approve Merger/Acquisition MGMT YES FOR FOR Kimco Realty Corp KIM 49446R109 5/17/05 Annual 1.01 Elect Martin S. Kimmel MGMT YES FOR FOR 1.02 Elect Milton Cooper MGMT YES FOR FOR 1.03 Elect Richard G. Dooley MGMT YES FOR FOR 1.04 Elect Michael J. Flynn MGMT YES FOR FOR 1.05 Elect Joe Grills MGMT YES FOR FOR 1.06 Elect David B. Henry MGMT YES FOR FOR 1.07 Elect F. Patrick Hughes MGMT YES FOR FOR 1.08 Elect Frank Lourenso MGMT YES FOR FOR 1.09 Elect Richard Saltzman MGMT YES FOR FOR 2 Increase authorized common stock MGMT YES FOR FOR Increase authorized dual class common stock Land Securities 3180943 7/14/04 Annual 1 Approve Financial Statements MGMT YES FOR FOR 2 Set Final Dividend at 27.20p MGMT YES FOR FOR 3 Approve Remuneration Policy MGMT YES FOR FOR 4 Elect Bo Lerenius MGMT YES FOR FOR 5 Elect Peter Gibbs Birch MGMT YES FOR FOR 6 Elect Winfried F.W. Bischoff MGMT YES FOR FOR 7 Elect David Rough MGMT YES FOR FOR 8 Appoint Auditors and Set Their Fees MGMT YES FOR FOR 9 Authorize Share Repurchase MGMT YES FOR FOR 10 Approve Directors' Fees MGMT YES AGNST AGNST Liberty International LII G8995Y108 3/18/05 Annual 1 Approve financial statements MGMT YES FOR FOR 2 Set Final Dividend at 14.10p MGMT YES FOR FOR 3 Elect Richard Cable MGMT YES FOR FOR 4 Elect Kay Chaldecott MGMT YES FOR FOR 5 Elect Sir Robert Finch MGMT YES FOR FOR 6 Elect Ian J. Henderson MGMT YES FOR FOR 7 Elect Lesley James MGMT YES FOR FOR 8 Elect Robert O. Rowley MGMT YES FOR FOR 9 Elect Michael Rapp MGMT YES FOR FOR 10 Appoint auditors and set their fees MGMT YES FOR FOR 11 Approve remuneration policy MGMT YES FOR FOR 12 Authorize share repurchase MGMT YES FOR FOR 13 Amend articles regarding treasury shares MGMT YES FOR FOR Liberty Property Trust LRY 531172104 5/19/05 Annual 1.01 Elect Frederick F. Buchholz MGMT YES FOR FOR 1.02 Elect Thomas C. DeLoach Jr. MGMT YES FOR FOR 1.03 Elect Daniel P. Garton MGMT YES FOR FOR 1.04 Elect Stephen B. Siegel MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR 3 Majority vote to elect directors SHLDR YES FOR AGNST 4 Report or take action on climate change SHLDR YES AGNST FOR Macerich MAC 554382101 5/19/05 Annual 1.01 Elect Dana K. Anderson MGMT YES FOR FOR 1.02 Elect Diana M. Laing MGMT YES FOR FOR 1.03 Elect Stanley A. Moore MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR Maguire Properties MPG 559775101 6/7/05 Annual 1.01 Elect Robert F. Maguire III MGMT YES FOR FOR 1.02 Elect Richard I. Gilchrist MGMT YES FOR FOR 1.03 Elect Lawrence S. Kaplan MGMT YES FOR FOR 1.04 Elect Caroline S. McBride MGMT YES FOR FOR 1.05 Elect Andrea L. Van de Kamp MGMT YES FOR FOR 1.06 Elect Walter L. Weisman MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR Mid-America Apartment Communities 59522J806 5/19/05 Annual 1.01 Elect H. Eric Bolton Jr. MGMT YES FOR FOR 1.02 Elect Alan B. Graf Jr. MGMT YES FOR FOR 1.03 Elect Ralph Horn MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR Mills Corp MLS 601148109 6/7/05 Annual 1.01 Elect Laurence C. Siegel MGMT YES FOR FOR 1.02 Elect Franz von Perfall MGMT YES FOR FOR 1.03 Elect Christina L. Rose MGMT YES FOR FOR 1.04 Elect Colombe M. Nicholas MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR Mitsubishi Estate 8802 J43916113 6/29/05 Annual 1 Allocate dividend MGMT YES FOR FOR 2 Set board/supervisory board size limits MGMT YES FOR FOR 3.01 Elect Director Nominee No. 3.1 MGMT YES FOR FOR 3.02 Elect Director Nominee No. 3.2 MGMT YES FOR FOR 3.03 Elect Director Nominee No. 3.3 MGMT YES FOR FOR 3.04 Elect Director Nominee No. 3.4 MGMT YES FOR FOR 3.05 Elect Director Nominee No. 3.5 MGMT YES FOR FOR 4.01 Elect statutory auditors MGMT YES FOR FOR 4.02 Elect statutory auditors MGMT YES FOR FOR Nationwide Health Properties 638620203 4/27/05 Annual 1.01 Elect R. Bruce Andrews MGMT YES FOR FOR 1.02 Elect Charles D. Miller MGMT YES FOR FOR 2 Adopt Stock Incentive Plan MGMT YES FOR FOR New Plan Excel Realty Trust NXL 648053106 5/11/05 Annual 1.01 Elect Raymond H. Bottorf MGMT YES FOR FOR 1.02 Elect Matthew Goldstein MGMT YES WHOLD AGNST 1.03 Elect Gregory White MGMT YES FOR FOR Newcastle Investment NCT 65105M108 5/17/05 Annual 1.01 Elect Wesley R. Edens MGMT YES FOR FOR 1.02 Elect David K. McKown MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR Omega Healthcare Investors OHI 681936100 5/26/05 Annual 1.01 Elect Harold J. Kloosterman MGMT YES FOR FOR 1.02 Elect C. Taylor Pickett MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR Pan Pacific Retail Properties PNP 69806L104 4/29/05 Annual 1.01 Elect Bernard M. Feldman MGMT YES FOR FOR 1.02 Elect Mark J. Riedy MGMT YES FOR FOR 2 Prohibit targeted share placement SHLDR YES AGNST FOR Pennsylvania REIT PEI 709102107 5/19/05 Annual 1.01 Elect Lee H. Javitch MGMT YES FOR FOR 1.02 Elect Mark E. Pasquerilla MGMT YES FOR FOR 1.03 Elect John J. Roberts MGMT YES FOR FOR 1.04 Elect Jonathan B. Weller MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR Prentiss Properties Trust PP 740706106 5/11/05 Annual 1.01 Elect Michael V. Prentiss MGMT YES FOR FOR 1.02 Elect Thomas J. Hynes Jr. MGMT YES FOR FOR 1.03 Elect Barry J.C. Parker MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR 3 Adopt Stock Incentive Plan MGMT YES FOR FOR ProLogis PLD 743410102 5/18/05 Annual 1.01 Elect K. Dane Brooksher MGMT YES FOR FOR 1.02 Elect Walter C. Rakowich MGMT YES FOR FOR 1.03 Elect Jeffrey H. Schwartz MGMT YES FOR FOR 1.04 Elect Kenneth N. Stensby MGMT YES FOR FOR 2 Repeal classified board MGMT YES FOR FOR 3 Ratify selection of auditors MGMT YES FOR FOR 4 Approve other business MGMT YES FOR FOR RAIT Investment Trust 749227203 5/18/05 Annual 1.01 Elect Betsy Z. Cohen MGMT YES FOR FOR 1.02 Elect Edward S. Brown MGMT YES FOR FOR 1.03 Elect Jonathan Z. Cohen MGMT YES FOR FOR 1.04 Elect S. Kristin Kim MGMT YES FOR FOR 1.05 Elect Arthur Makadon MGMT YES FOR FOR 1.06 Elect Joel R. Mesznik MGMT YES FOR FOR 1.07 Elect Daniel Promislo MGMT YES FOR FOR 2 Adopt the 1997 Stock Option Plan MGMT YES FOR FOR 3 Ratify selection of auditors MGMT YES FOR FOR Reckson Associates Realty RA 75621K106 5/19/05 Annual 1.01 Elect Scott H. Rechler MGMT YES FOR FOR 1.02 Elect Douglas Crocker II MGMT YES FOR FOR 1.03 Elect Elizabeth McCaul MGMT YES FOR FOR 1.04 Elect Ronald H. Menaker MGMT YES FOR FOR 1.05 Elect Peter Quick MGMT YES FOR FOR 1.06 Elect Lewis S. Ranieri MGMT YES FOR FOR 1.07 Elect John F. Ruffle MGMT YES FOR FOR 1.08 Elect Stanley Steinberg MGMT YES FOR FOR 2 Increase authorized common stock MGMT YES FOR FOR 3 Adopt the 2005 Stock Option Plan MGMT YES AGNST AGNST 4 Ratify selection of auditors MGMT YES FOR FOR Regency Centers Corp REG 758849103 5/3/05 Annual 1.01 Elect Martin E. Stein Jr. MGMT YES FOR FOR 1.02 Elect Raymond L. Bank MGMT YES FOR FOR 1.03 Elect C. Ronald Blankenship MGMT YES FOR FOR 1.04 Elect Alvin R. Carpenter MGMT YES FOR FOR 1.05 Elect J. Dix Druce Jr. MGMT YES FOR FOR 1.06 Elect Mary Lou Fiala MGMT YES FOR FOR 1.07 Elect Bruce M. Johnson MGMT YES FOR FOR 1.08 Elect Douglas S. Luke MGMT YES FOR FOR 1.09 Elect John C. Schweitzer MGMT YES FOR FOR 1.10 Elect Thomas G. Wattles MGMT YES FOR FOR 1.11 Elect Terry N. Worrell MGMT YES FOR FOR Retirement Residences REIT 76130C106 5/10/05 Annual 1 Elect directors - Canada MGMT YES FOR FOR 2 Elect directors - Canada MGMT YES FOR FOR 3 Elect directors - Canada MGMT YES FOR FOR 4 Elect directors - Canada MGMT YES FOR FOR 5 Elect directors - Canada MGMT YES FOR FOR 6 Elect directors - Canada MGMT YES FOR FOR 7 Elect directors - Canada MGMT YES FOR FOR 8 Elect directors - Canada MGMT YES FOR FOR 9 Elect directors - Canada MGMT YES FOR FOR 10 Elect directors - Canada MGMT YES FOR FOR 11 Elect directors - Canada MGMT YES FOR FOR 12 Appoint auditors and set their fees MGMT YES FOR FOR 13 Set board/supervisory board size limits MGMT YES FOR FOR Rodamco Europe 5727360 11/5/04 Special 1 Amend Board/Supervisory Board Size MGMT YES FOR FOR 2.01 Elect Frans Jozef Gerlach Maria Cremers MGMT YES FOR FOR 2.02 Elect Robert ter Haar MGMT YES FOR FOR 2.03 Elect Josephus Wilhelmus B. Westerburgen MGMT YES FOR FOR Rodamco Europe N7518K100 4/21/05 Annual 2 NV Receive statutory reports MGMT YES FOR FOR 3 Approve financial statements MGMT YES FOR FOR 4.01 NV Misc non-U.S. mgt. non-voting MGMT YES FOR FOR 4.02 Set Dividend at 3.05 MGMT YES FOR FOR 5 Ratify management acts-legal MGMT YES FOR FOR 6 Ratify board acts-legal MGMT YES FOR FOR 7 Elect supervisory board/corporate assembly MGMT YES FOR FOR 8 Consider other business MGMT YES FOR FOR Ronin Property Group 6010434 11/24/04 Annual 1 Elect Alan J. Cameron MGMT YES FOR FOR 2 Elect Keith Ince MGMT YES FOR FOR 3 Elect Peter Jollie MGMT YES FOR FOR 4 Approve Directors' Fees MGMT YES FOR FOR 5 Change Company Name MGMT YES FOR FOR 6.01 Reauthorize Share Issue Limit MGMT YES FOR FOR 6.02 Reauthorize Share Issue Limit MGMT YES FOR FOR 6.03 Reauthorize Share Issue Limit MGMT YES FOR FOR SL Green Realty SLG 78440X101 5/19/05 Annual 1.01 Elect Marc Holliday MGMT YES FOR FOR 1.02 Elect John S. Levy MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR 3 Adopt the 2005 Stock Option and Incentive Plan MGMT YES AGNST AGNST Slough Estates SLOU G81821103 5/17/05 Annual 1 Approve financial statements MGMT YES FOR FOR 2 To declare a dividend MGMT YES FOR FOR 3 Approve remuneration policy MGMT YES FOR FOR 4 To re-elect as a director Mr Richard David Kingston MGMT YES FOR FOR 5 To re-elect as a director Mr Stephen Lee Howard MGMT YES FOR FOR 6 To re-elect as a director Mr Marshall Douglas Lees MGMT YES FOR FOR 7 To re-elect as a director Mr Paul David Orchard-Lisle MGMT YES FOR FOR 8 To re-elect as a director The Rt Hon Lord MacGregor of Pulham Market OBE MGMT YES FOR FOR 9 Appoint outside auditors MGMT YES FOR FOR 10 Set auditors' fees MGMT YES FOR FOR 11 Approve political donation MGMT YES FOR FOR 12 Issue stock w/ preemptive rights MGMT YES AGNST AGNST 13 Issue stock w/o preemptive rights MGMT YES FOR FOR 14 Authorize share repurchase MGMT YES FOR FOR Slough Estates SLOU G81821103 6/8/05 Annual 1 Amend terms of GBP 40000000 11 .25% First Mortgage Debenture Stock due 2019 MGMT YES ABSTAIN AGNST Sovran Self Storage Inc SSS 84610H108 5/18/05 Annual 1.01 Elect Robert J. Attea MGMT YES FOR FOR 1.02 Elect Kenneth F. Myszka MGMT YES FOR FOR 1.03 Elect John E. Burns MGMT YES FOR FOR 1.04 Elect Michael A. Elia MGMT YES FOR FOR 1.05 Elect Anthony P. Gammie MGMT YES FOR FOR 1.06 Elect Charles E. Lannon MGMT YES FOR FOR 2 Adopt the 2005 Award and Option Plan MGMT YES AGNST AGNST 3 Ratify selection of auditors MGMT YES FOR FOR Strategic Hotel Capital Inc SLH 86272T106 5/18/05 Annual 1.01 Elect Robert P. Bowen MGMT YES FOR FOR 1.02 Elect John C. Deterding MGMT YES FOR FOR 1.03 Elect Robert M. Falzon MGMT YES FOR FOR 1.04 Elect Laurence S. Geller MGMT YES FOR FOR 1.05 Elect Thomas A. Hassard MGMT YES FOR FOR 1.06 Elect Jonathan A. Langer MGMT YES FOR FOR 1.07 Elect Robert J. Watson MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR 3 Approve other business MGMT YES FOR FOR Sun Hung Kai Properties 2863041 12/9/04 Annual 1 Approve Financial Statements MGMT YES FOR FOR 2 Set Final Dividend at 105.00 MGMT YES FOR FOR 3.01 Elect Sir Sze Yuen Chung MGMT YES FOR FOR 3.02 Elect Dr. Victor Fung Kwok King MGMT YES FOR FOR 3.03 Elect Sir Woo Po Shing MGMT YES FOR FOR 3.04 Elect William Kwan Cheuk Yin MGMT YES FOR FOR 3.05 Elect Dicky Peter Yip MGMT YES FOR FOR 3.06 Approve Directors' Fees MGMT YES FOR FOR 4 Appoint Auditors and Set Their Fees MGMT YES FOR FOR 5 Authorize Share Repurchase MGMT YES FOR FOR 6 Issue Stock w/o Preemptive Rights MGMT YES AGNST AGNST 7 Reissuance of Shares/Treasury Stock MGMT YES FOR FOR 8 Amend Articles--Technical MGMT YES FOR FOR Amend Meeting Procedures/Change Date Amend Board Powers/Procedures/Qualifications Amend Board Election Rules Tour Eiffel (Societe de la) F92245103 5/12/05 Annual 1 Approve use/transfer of reserves MGMT YES ABSTAIN AGNST 2 Approve financial statements MGMT YES FOR FOR 3 Set dividend/allocate profits MGMT YES FOR FOR 4 Approve use/transfer of reserves MGMT YES ABSTAIN AGNST 5 Approve financial statements MGMT YES FOR FOR 6 Approve related party transactions MGMT YES ABSTAIN AGNST 7 Approve directors' fees MGMT YES FOR FOR 8 Elect directors - other markets MGMT YES FOR FOR 9 Appoint outside auditors MGMT YES FOR FOR 10 Relocate corporate headquarters MGMT YES FOR FOR 11 Authorize legal formalities MGMT YES FOR FOR 12 Amend board powers/procedures/qualifications MGMT YES FOR FOR 13 Relocate corporate headquarters MGMT YES FOR FOR 14 Increase authorized capital MGMT YES ABSTAIN AGNST Issue stock w/ preemptive rights 15 Increase authorized capital MGMT YES ABSTAIN AGNST Issue stock w/o preemptive rights 16 Increase authorized capital MGMT YES ABSTAIN AGNST Issue stock w/o preemptive rights 17 Issue stock w/ or w/o preemptive rights MGMT YES ABSTAIN AGNST 18 Issue stock w/o preemptive rights MGMT YES ABSTAIN AGNST 19 Issue warrants w/o preemptive rights MGMT YES ABSTAIN AGNST 20 Amend terms of debt instruments MGMT YES FOR FOR 21 Approve stock option grant MGMT YES ABSTAIN AGNST 22 Authorize legal formalities MGMT YES FOR FOR 23 Authorize legal formalities MGMT YES FOR FOR Trizec Properties Inc TRZ 89687P107 5/19/05 Annual 1.01 Elect Peter Munk MGMT YES FOR FOR 1.02 Elect Timothy H. Callahan MGMT YES FOR FOR 1.03 Elect L. Jay Cross MGMT YES FOR FOR 1.04 Elect M. Brian Mulroney MGMT YES FOR FOR 1.05 Elect James J. O'Connor MGMT YES FOR FOR 1.06 Elect Glenn J. Rufrano MGMT YES FOR FOR 1.07 Elect Richard M. Thomson MGMT YES FOR FOR 1.08 Elect Polyvios C. Vintiadis MGMT YES FOR FOR 1.09 Elect Stephen R. Volk MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR Trustreet Properties Inc TSY 898404108 2/24/05 Special 1 Approve merger/acquisition MGMT YES FOR FOR Approve common stock issuance 2 Approve merger/acquisition MGMT YES FOR FOR 3 Increase authorized common stock MGMT YES FOR FOR Increase authorized preferred stock 4 Approve non-technical charter amendments MGMT YES FOR FOR Trustreet Properties Inc TSY 898404108 6/23/05 Annual 1.01 Elect Robert A. Bourne MGMT YES FOR FOR 1.02 Elect G. Steven Dawson MGMT YES FOR FOR 1.03 Elect G. Richard Hostetter MGMT YES FOR FOR 1.04 Elect Richard C. Huseman MGMT YES FOR FOR 1.05 Elect James H. Kropp MGMT YES FOR FOR 1.06 Elect J. Joseph Kruse MGMT YES FOR FOR 1.07 Elect Curtis B. McWilliams MGMT YES FOR FOR 1.08 Elect James M. Seneff Jr. MGMT YES FOR FOR 1.09 Elect Robert J. Stetson MGMT YES FOR FOR Unibail 7076242 12/7/04 Special 1 Approve Bonus Dividend/Bonus Share Issue MGMT YES FOR FOR 2 Authorize Legal Formalities MGMT YES FOR FOR 3 Authorize Legal Formalities MGMT YES FOR FOR Unibail 12471 F95094110 4/20/05 Annual 1 Approve financial statements MGMT YES FOR FOR 2 Approve financial statements MGMT YES FOR FOR 3 Set Final Dividend at 3.75 MGMT YES FOR FOR 4 Approve use/transfer of reserves MGMT YES FOR FOR 5 Approve related party transactions MGMT YES FOR FOR 6 Elect Leon Bressler MGMT YES FOR FOR 7 Elect Jacques Dermagne MGMT YES FOR FOR 8 Elect Jean-Louis Solal MGMT YES FOR FOR 9 Elect Yves Lyon-Caen MGMT YES FOR FOR 10 Appoint outside auditors MGMT YES FOR FOR 11 Appoint outside auditors MGMT YES FOR FOR 12 Appoint outside auditors MGMT YES FOR FOR 13 Appoint outside auditors MGMT YES FOR FOR 14 Authorize trade in company stock MGMT YES FOR FOR 15 Increase authorized capital MGMT YES FOR FOR 16 Reduce authorized capital MGMT YES FOR FOR 17 Issue stock w/ preemptive rights MGMT YES FOR FOR Increase authorized capital 18 Issue stock w/o preemptive rights MGMT YES FOR FOR Increase authorized capital 19 Issue stock w/o preemptive rights MGMT YES FOR FOR 20 Increase authorized capital MGMT YES AGNST AGNST Issue stock w/o preemptive rights 21 Issue stock w/o preemptive rights MGMT YES AGNST AGNST 22 Authorize legal formalities MGMT YES FOR FOR United Dominion Realty Trust UDR 910197102 5/3/05 Annual 1.01 Elect Eric J. Foss MGMT YES FOR FOR 1.02 Elect Robert P. Freeman MGMT YES FOR FOR 1.03 Elect Jon A. Grove MGMT YES FOR FOR 1.04 Elect James D. Klingbeil MGMT YES FOR FOR 1.05 Elect Robert C. Larson MGMT YES FOR FOR 1.06 Elect Thomas R. Oliver MGMT YES FOR FOR 1.07 Elect Dr. Lynne B. Sagalyn MGMT YES FOR FOR 1.08 Elect Mark J. Sandler MGMT YES FOR FOR 1.09 Elect Robert W. Scharar MGMT YES FOR FOR 1.10 Elect Thomas W. Toomey MGMT YES FOR FOR 2 Ratify selection of auditors MGMT YES FOR FOR 3 Approve long-term bonus plan MGMT YES AGNST AGNST 4 Authorize preferred stock MGMT YES AGNST AGNST Westfield Group WDC B01BTX7 11/12/04 Annual 1 Approve Financial Statements MGMT YES FOR FOR 2 Elect David M. Gonski MGMT YES FOR FOR 3 Elect Stephen P. Johns MGMT YES FOR FOR 4 Elect Steven M. Lowy MGMT YES FOR FOR 5 Elect Roy L. Furman MGMT YES FOR FOR 6 Elect John B. Studdy MGMT YES FOR FOR 7 Elect Gary H. Weiss MGMT YES FOR FOR 8 Elect Francis T. (Fay) Vincent Jr. MGMT YES FOR FOR 9 Amend Board/Supervisory Board Size MGMT YES FOR FOR 10 Approve Directors' Fees MGMT YES FOR FOR Westfield Group WDC Q97062105 5/12/05 Annual 1 Approve remuneration policy MGMT YES AGNST AGNST 2 Elect Frederick G. Hilmer MGMT YES AGNST AGNST 3 Elect Dean Wills MGMT YES FOR FOR 4 Elect David H. Lowy MGMT YES FOR FOR 5 Elect Frank P. Lowy MGMT YES FOR FOR 6 Amend articles--technical MGMT YES FOR FOR 7 Amend articles--technical MGMT YES FOR FOR Any ballot marked 'Abstain' is considered to have been voted. Ballots marked 'Abstain' are considered to be have been voted against management's recommendation, regardless of whether the recommendation is 'For' or 'Against,' except where management has made no recommendation or has recommended that shareholders 'Abstain.' Where management has recommended that shareholders 'Abstain' from voting on a ballot item: 1) a ballot market 'Abstain' is considered to have been voted for management's recommendation to 'Abstain' and 2) a ballot voted 'For" or 'Against' is considered to have been voted against management's recommendation to 'Abstain.' Where management has made no recommendation on a ballot item, the abbreviation "N/A" is used to denote that there is no applicable recommendation compared to which a vote may be 'For' or 'Against' the recommendation of management. 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. - ------------------------------------------------------------------------- (Registrant) /s/ T. Ritson Ferguson, Managing Director By _______________________________________________________________________ (Signature & Title) 7/14/05 Date _____________________________________________________________________