Blackrock Global Value Fund, Inc. – ‘N-PX’ for 6/30/04

On:  Tuesday, 8/10/04, at 11:28am ET   ·   Effective:  8/10/04   ·   For:  6/30/04   ·   Accession #:  900092-4-206   ·   File #:  811-07561

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Proxy Voting Record Annual Report by a Management Investment Company   —   Form N-PX
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: N-PX        Global Value Fund                                     68±   261K 

Document Table of Contents

UNITED STATES                                                                   
SECURITIES AND EXCHANGE COMMISSION                                              
Washington, D.C. 20549                                                          

FORM N-PX                                                                       

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED                              
MANAGEMENT INVESTMENT COMPANY                                                   

Investment Company Act file number 811-07561                                    

Name of Fund:  Merrill Lynch Global Value Fund, Inc.                            

Fund Address:  P.O. Box 9011                                                    
Princeton, NJ  08543-9011                         

Name and address of agent for service:                                          
Terry K. Glenn, President, Merrill Lynch Global Value Fund,       
Inc., 800 Scudders Mill Road, Plainsboro, NJ,  08536.             
Mailing address:  P.O. Box 9011, Princeton, NJ, 08543-9011        

Registrant's telephone number, including area code:  (609) 282-2800             

Date of fiscal year end: 12/31/2004                                             

Date of reporting period: 07/01/03 - 06/30/04                                   

Item 1 - Proxy Voting Record                                                    

The information contained herein discloses the following information            
for each matter relating to a portfolio security considered at any              
shareholder meeting held during the period covered by the report and            
with respect to which the registrant was entitled to vote:                      

(a) The name of the issuer of the portfolio security;                           

(b) The exchange ticker symbol of the portfolio security;                       

(c) The Council on Uniform Securities Identification Procedures                 
("CUSIP") number for the portfolio security;                                    

(d) The shareholder meeting date;                                               

(e) A brief identification of the matter voted on;                              

(f) Whether the matter was proposed by the issuer or by a security              
holder;                                                                         

(g) Whether the registrant cast its vote on the matter;                         

(h) How the registrant cast its vote; and                                       

(i) Whether the registrant cast its vote for or against management.             

******************************* FORM N-Px REPORT *******************************

ICA File Number: 811-07561                                                      
Reporting Period: 07/01/2003 - 06/30/2004                                       
Merrill Lynch Global Value Fund, Inc.                                           

==================== MERRILL LYNCH GLOBAL VALUE FUND, INC. =====================

ACE LTD.                                                                        

Ticker:       ACE            Security ID:  G0070K103                            
Meeting Date: MAY 27, 2004   Meeting Type: Annual                               
Record Date:  APR 8, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Brian Duperreault         For       For        Management 
1.2   Elect  Director Robert M. Hernandez       For       For        Management 
1.3   Elect  Director Peter Menikoff            For       For        Management 
1.4   Elect  Director Robert Ripp               For       For        Management 
1.5   Elect  Director Dermot F. Smurfit         For       For        Management 
2     PROPOSAL TO APPROVE THE ACE LIMITED 2004  For       For        Management 
LONG-TERM INCENTIVE PLAN.                                           
3     PROPOSAL TO RATIFY THE APPOINTMENT OF     For       For        Management 
PRICEWATERHOUSECOOPERS LLP AS THE                                   
INDEPENDENT ACCOUNTANTS OF ACE LIMITED                              
FOR THE FISCAL YEAR ENDING DECEMBER 31,                             
2004.                                                               

--------------------------------------------------------------------------------

AEON CREDIT SERVICE LTD.                                                        

Ticker:                      Security ID:  J0021H107                            
Meeting Date: MAY 12, 2004   Meeting Type: Annual                               
Record Date:  FEB 20, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 25,                             
Final JY 35, Special JY 0                                           
2     Amend Articles to: Expand Business Lines  For       Against    Management 
- Authorize Share Repurchases at Board's                            
Discretion - Abolish Retirement Bonus                               
System                                                              
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
3.4   Elect Director                            For       For        Management 
3.5   Elect Director                            For       For        Management 
3.6   Elect Director                            For       For        Management 
3.7   Elect Director                            For       For        Management 
3.8   Elect Director                            For       For        Management 
3.9   Elect Director                            For       For        Management 
3.10  Elect Director                            For       For        Management 
4.1   Appoint Internal Statutory Auditor        For       For        Management 
4.2   Appoint Internal Statutory Auditor        For       Against    Management 
4.3   Appoint Internal Statutory Auditor        For       For        Management 
5     Approve Special Payments to Directors and For       Against    Management 
Statutory Auditors in Connection with                               
Abolition of Retirement Bonus System                                
6     Approve Adjustment to Aggregate           For       For        Management 
Compensation Ceiling for Directors                                  

--------------------------------------------------------------------------------

AES CORP., THE                                                                  

Ticker:       AES            Security ID:  00130H105                            
Meeting Date: APR 28, 2004   Meeting Type: Annual                               
Record Date:  MAR 3, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Richard Darman            For       For        Management 
1.2   Elect  Director Alice F. Emerson          For       For        Management 
1.3   Elect  Director Paul T. Hanrahan          For       For        Management 
1.4   Elect  Director Kristina M. Johnson       For       For        Management 
1.5   Elect  Director John A. Koskinen          For       For        Management 
1.6   Elect  Director Philip Lader              For       For        Management 
1.7   Elect  Director John H. McArthur          For       For        Management 
1.8   Elect  Director Sandra O. Moose           For       For        Management 
1.9   Elect  Director Philip A. Odeen           For       For        Management 
1.10  Elect  Director Charles O. Rossotti       For       For        Management 
1.11  Elect  Director Sven Sandstrom            For       For        Management 
1.12  Elect  Director Roger W. Sant             For       For        Management 
2     Ratify Auditors                           For       For        Management 

--------------------------------------------------------------------------------

AFFILIATED MANAGERS GROUP, INC.                                                 

Ticker:       AMG            Security ID:  008252108                            
Meeting Date: JUN 8, 2004    Meeting Type: Annual                               
Record Date:  APR 21, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director William J. Nutt           For       For        Management 
1.2   Elect  Director Sean M. Healey            For       For        Management 
1.3   Elect  Director Richard E. Floor          For       For        Management 
1.4   Elect  Director Stephen J. Lockwood       For       For        Management 
1.5   Elect  Director Harold J. Meyerman        For       For        Management 
1.6   Elect  Director Robert C. Puff, Jr.       For       For        Management 
1.7   Elect  Director Dr. Rita M. Rodriguez     For       For        Management 

--------------------------------------------------------------------------------

AIFUL CORP.                                                                     

Ticker:                      Security ID:  J00557108                            
Meeting Date: JUN 25, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 30,                             
Final JY 30, Special JY 0                                           
2     Amend Articles to: Expand Business Lines  For       Against    Management 
- Authorize Share Repurchases at Board's                            
Discretion                                                          
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
3.4   Elect Director                            For       For        Management 
3.5   Elect Director                            For       For        Management 
3.6   Elect Director                            For       For        Management 
3.7   Elect Director                            For       For        Management 
3.8   Elect Director                            For       For        Management 
3.9   Elect Director                            For       For        Management 
3.10  Elect Director                            For       For        Management 
3.11  Elect Director                            For       For        Management 
3.12  Elect Director                            For       For        Management 
3.13  Elect Director                            For       For        Management 
3.14  Elect Director                            For       For        Management 
3.15  Elect Director                            For       For        Management 
3.16  Elect Director                            For       For        Management 
3.17  Elect Director                            For       For        Management 
4     Appoint Internal Statutory Auditor        For       For        Management 
5     Approve Retirement Bonuses for Directors  For       For        Management 
and Statutory Auditor                                               
6     Approve Executive Stock Option Plan       For       For        Management 

--------------------------------------------------------------------------------

AK STEEL HOLDING CORP.                                                          

Ticker:       AKS            Security ID:  001547108                            
Meeting Date: MAY 3, 2004    Meeting Type: Annual                               
Record Date:  MAR 19, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Richard A. Abdoo          For       For        Management 
1.2   Elect  Director Donald V. Fites           For       For        Management 
1.3   Elect  Director Dr. Bonnie G. Hill        For       For        Management 
1.4   Elect  Director Robert H. Jenkins         For       For        Management 
1.5   Elect  Director Lawrence A. Leser         For       For        Management 
1.6   Elect  Director Daniel J. Meyer           For       For        Management 
1.7   Elect  Director Shirley D. Peterson       For       For        Management 
1.8   Elect  Director Dr. James A. Thomson      For       For        Management 
1.9   Elect  Director James L. Wainscott        For       For        Management 

--------------------------------------------------------------------------------

ALLIED IRISH BANK PLC                                                           

Ticker:       AIB            Security ID:  G02072117                            
Meeting Date: APR 29, 2004   Meeting Type: Annual                               
Record Date:  APR 24, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2     Approve Dividend of EUR 35 Cents          For       For        Management 
3a    Elect Michael Buckley as a Director       For       For        Management 
3b    Elect Padraic Fallon as a Director        For       For        Management 
3c    Elect Dermot Gleeson as a Director        For       For        Management 
3d    Elect Derek Higgs as a Director           For       For        Management 
3e    Elect Gary Kennedy as a Director          For       For        Management 
3f    Elect John McGuckian as a Director        For       For        Management 
4     Authorize Board to Fix Remuneration of    For       For        Management 
KPMG Auditors                                                       
5     Authorize Share Repurchase of 90 Million  For       For        Management 
Shares, Representing 10 Percent of the                              
Share Capital                                                       
6     Authorize Reissuance of Repurchased       For       For        Management 
Shares                                                              
7     Approve Issuance of Equity or             For       For        Management 
Equity-Linked Securities without                                    
Preemptive Rights, Representing 5 Percent                           
of the Share capital                                                
8     Approve Stock Dividend Program            For       For        Management 
9a    Remove Adrian Burke as a Director         Against   Against    Shareholder
9b    Remove Colm Doherty as a Director         Against   Against    Shareholder
9c    Remove Don Godson as a Director           Against   Against    Shareholder
9d    Remove Aidan McKeon as a Director         Against   Against    Shareholder
9e    Remove Carol Moffett as a Director        Against   Against    Shareholder
9f    Remove Jim O'Leary as a Director          Against   Against    Shareholder
9g    Remove Michael Sullivan as a Director     Against   Against    Shareholder
9h    Remove Robert Wilmers as a Director       Against   Against    Shareholder
10    Remove KPMG as Auditors                   Against   Against    Shareholder
11    Appoint Niall Murphy, a Shareholder       Against   Against    Shareholder
Nominee, as a Director                                              

--------------------------------------------------------------------------------

ALLTEL CORP.                                                                    

Ticker:       AT             Security ID:  020039103                            
Meeting Date: APR 22, 2004   Meeting Type: Annual                               
Record Date:  FEB 24, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Scott T. Ford             For       For        Management 
1.2   Elect  Director Lawrence L. Gellerstedt,  For       For        Management 
III                                                                 
1.3   Elect  Director Emon A. Mahony, Jr.       For       For        Management 
1.4   Elect  Director Ronald Townsend           For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Ammend EEO - Sexual Orientation           Against   For        Shareholder

--------------------------------------------------------------------------------

AMERICAN HOME MORTGAGE INVESTMENT, CORP.                                        

Ticker:       AHM            Security ID:  02660R107                            
Meeting Date: JUN 16, 2004   Meeting Type: Annual                               
Record Date:  APR 23, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director John A. Johnston          For       For        Management 
1.2   Elect  Director M.A. Mcmanus, Jr.         For       For        Management 
1.3   Elect  Director Irving J. Thau            For       For        Management 
2     Ratify Auditors                           For       For        Management 

--------------------------------------------------------------------------------

AMERICAN HOME MORTGAGE INVESTMENT, CORP.                                        

Ticker:       AHM            Security ID:  02660M108                            
Meeting Date: NOV 21, 2003   Meeting Type: Annual                               
Record Date:  OCT 16, 2003                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Reorganization Plan               For       For        Management 
2     Issue Shares in Connection with an        For       For        Management 
Acquisition                                                         
3     Amend Omnibus Stock Plan                  For       For        Management 

--------------------------------------------------------------------------------

ANTHEM INC.                                                                     

Ticker:       ATH            Security ID:  03674B104                            
Meeting Date: JUN 28, 2004   Meeting Type: Special                              
Record Date:  MAY 10, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Issue Shares in Connection with an        For       For        Management 
Acquisition                                                         
2     Change Company Name                       For       For        Management 

--------------------------------------------------------------------------------

ANTHEM INC.                                                                     

Ticker:       ATH            Security ID:  03674B104                            
Meeting Date: MAY 17, 2004   Meeting Type: Annual                               
Record Date:  MAR 19, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Victor S. Liss            For       For        Management 
1.2   Elect  Director James W. McDowell, Jr.    For       For        Management 
1.3   Elect  Director George A. Schaefer, Jr.   For       For        Management 
1.4   Elect  Director Jackie M. Ward            For       For        Management 

--------------------------------------------------------------------------------

ASSA ABLOY                                                                      

Ticker:                      Security ID:  W0817X105                            
Meeting Date: APR 27, 2004   Meeting Type: Annual                               
Record Date:  APR 16, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Open Meeting                              None      None       Management 
2     Elect Chairman of Meeting                 For       For        Management 
3     Prepare and Approve List of Shareholders  For       For        Management 
4     Approve Agenda of Meeting                 For       For        Management 
5     Designate Inspector or Shareholder        For       For        Management 
Representative(s) of Minutes of Meeting                             
6     Acknowledge Proper Convening of Meeting   For       For        Management 
7     Receive President's Report                None      None       Management 
8     Receive Financial Statements and          None      None       Management 
Statutory Reports; Receive Board Reports                            
9.1   Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
9.2   Approve Allocation of Income and          For       For        Management 
Dividends of SEK 1.25 Per Share                                     
9.3   Approve Record Date (April 30) for        For       For        Management 
Dividend                                                            
9.4   Approve Discharge of Board and President  For       For        Management 
10    Determine Number of Members (10) and      For       For        Management 
Deputy Members (0) of Board                                         
11    Approve Remuneration of Directors in the  For       For        Management 
Aggregate Amount of SEK 4 Million                                   
12    Reelect Bo Dankis, Gustaf Douglas,        For       For        Management 
Patricia O'Driscoll, Georg Ehrnrooth,                               
Per-Olof Eriksson, Lotta Lunden,                                    
Sven-Christer Nilsson, Melker Schoerling,                           
and Carl-Henrik Svanberg as Directors;                              
Elect Carl Douglas as New Director                                  
13.1  Shareholder Proposal: Authorize General   Against   Against    Shareholder
Meeting to Elect Members of Nominating                              
Committee                                                           
13.2  Reelect Georg Ehrnrooth, Melker           For       For        Management 
Schoerling, and Gustaf Douglas as Members                           
of Nominating Committee and Authorize                               
These Members to Appoint Two                                        
Representatives of Company's Largest                                
Shareholders to Serve on Nominating                                 
Committee                                                           
14    Shareholder Proposal: Question to Board   None      None       Shareholder
Concerning Absence of Policy on Human                               
Rights                                                              
15    Approve Incentive Program for All         For       For        Management 
Employees                                                           

--------------------------------------------------------------------------------

AVAYA INC                                                                       

Ticker:       AV             Security ID:  053499109                            
Meeting Date: FEB 26, 2004   Meeting Type: Annual                               
Record Date:  DEC 31, 2003                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Joseph P. Landy           For       For        Management 
1.2   Elect  Director Mark Leslie               For       For        Management 
1.3   Elect  Director Donald K. Peterson        For       For        Management 
1.4   Elect  Director Anthony P. Terracciano    For       For        Management 
2     Approve Omnibus Stock Plan                For       For        Management 
3     Limit Awards to Executives                Against   Against    Shareholder

--------------------------------------------------------------------------------

BANCO POPULAR ESPANOL                                                           

Ticker:                      Security ID:  E19550156                            
Meeting Date: JUN 24, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Individual and Consolidated       For       For        Management 
Financial Statements and Statutory                                  
Reports, Allocation of Income, and                                  
Discharge Directors                                                 
2     Elect Management Board                    For       For        Management 
3     Reelect Pricewaterhouse Coopers as        For       For        Management 
Auditors                                                            
4     Amend Articles 14,15,16,18,21, and 22 Re: For       For        Management 
Remote Vote, Shareholder Access to                                  
Information, Number of Directors and                                
Remuneration, Audit Committee                                       
5     Approve General Meeting Guidelines;       For       For        Management 
Information Re: Board Guidelines                                    
6     Authorize Share Repurchase Program and    For       For        Management 
Cancellation of Repurchased Shares;                                 
Approve Reduction in Capital                                        
7     Approve Transfer of Reserves to Early     For       Against    Management 
Retirement Fund                                                     
8     Authorize Board to Ratify and Execute     For       For        Management 
Approved Resolutions                                                

--------------------------------------------------------------------------------

BANCO POPULAR ESPANOL                                                           

Ticker:                      Security ID:  E19550156                            
Meeting Date: JUN 23, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Individual and Consolidated       For       For        Management 
Financial Statements and Statutory                                  
Reports, Allocation of Income, and                                  
Discharge Directors                                                 
2     Elect Management Board                    For       For        Management 
3     Reelect Pricewaterhouse Coopers as        For       For        Management 
Auditors                                                            
4     Amend Articles 14,15,16,18,21, and 22 Re: For       For        Management 
Remote Vote, Shareholder Access to                                  
Information, Number of Directors and                                
Remuneration, Audit Committee                                       
5     Approve General Meeting Guidelines;       For       For        Management 
Information Re: Board Guidelines                                    
6     Authorize Share Repurchase Program and    For       For        Management 
Cancellation of Repurchased Shares;                                 
Approve Reduction in Capital                                        
7     Approve Transfer of Reserves to Early     For       Against    Management 
Retirement Fund                                                     
8     Authorize Board to Ratify and Execute     For       For        Management 
Approved Resolutions                                                

--------------------------------------------------------------------------------

BANK OF YOKOHAMA LTD.                                                           

Ticker:                      Security ID:  J04242103                            
Meeting Date: JUN 25, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends on Ordinary                                 
Shares: Interim JY 0, Final JY 5, Special                           
JY 0                                                                
2     Authorize Repurchase of Preferred Shares  For       For        Management 
3     Amend Articles to: Authorize Share        For       For        Management 
Repurchases at Board's Discretion -                                 
Create Position of Vice-Chairman                                    
4.1   Elect Director                            For       For        Management 
4.2   Elect Director                            For       For        Management 
4.3   Elect Director                            For       For        Management 
4.4   Elect Director                            For       For        Management 
4.5   Elect Director                            For       For        Management 
4.6   Elect Director                            For       For        Management 
4.7   Elect Director                            For       For        Management 
4.8   Elect Director                            For       For        Management 
5     Appoint Internal Statutory Auditor        For       Against    Management 
6     Approve Retirement Bonuses for Directors  For       Against    Management 
and Statutory Auditor                                               
7     Approve Executive Stock Option Plan       For       For        Management 

--------------------------------------------------------------------------------

BEAR STEARNS COMPANIES INC., THE                                                

Ticker:       BSC            Security ID:  073902108                            
Meeting Date: MAR 31, 2004   Meeting Type: Annual                               
Record Date:  FEB 19, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director James E. Cayne            For       For        Management 
1.2   Elect  Director Carl D. Glickman          For       For        Management 
1.3   Elect  Director Alan C. Greenberg         For       For        Management 
1.4   Elect  Director Donald J. Harrington      For       For        Management 
1.5   Elect  Director William L. Mack           For       For        Management 
1.6   Elect  Director Frank T. Nickell          For       For        Management 
1.7   Elect  Director Paul A. Novelly           For       For        Management 
1.8   Elect  Director Frederic V. Salerno       For       For        Management 
1.9   Elect  Director Alan D. Schwartz          For       For        Management 
1.10  Elect  Director Warren J. Spector         For       For        Management 
1.11  Elect  Director Vincent Tese              For       For        Management 
2     Amend the Capital Accumulation Plan for   For       Against    Management 
Senior Managing Directors                                           
3     Amend Stock Option Plan                   For       Against    Management 
4     Approve Restricted Stock Plan             For       Against    Management 
5     Ratify Auditors                           For       For        Management 

--------------------------------------------------------------------------------

CANADIAN NATURAL RESOURCES LTD.                                                 

Ticker:       CNQ.           Security ID:  136385101                            
Meeting Date: MAY 6, 2004    Meeting Type: Annual/Special                       
Record Date:  MAR 25, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Elect Catherine Best, N. Murray Edwards,  For       For        Management 
Ambassador Gordon D. Giffin, James T.                               
Grenon, John G. Langille, Keith A.J.                                
MacPhail, Allan Markin, James Palmer,                               
Eldon Smith and David Tuer as Directors                             
2     Appoint PricewaterhouseCoopers LLP as     For       For        Management 
Auditors and Authorize Board to Fix                                 
Remuneration of Auditors                                            
3     Amend Stock Option Plan                   For       Against    Management 
4     Approve 2:1 Stock Split                   For       For        Management 

--------------------------------------------------------------------------------

CANADIAN OIL SANDS TRUST                                                        

Ticker:       COS.U          Security ID:  13642L100                            
Meeting Date: APR 26, 2004   Meeting Type: Annual/Special                       
Record Date:  MAR 12, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Auditors of Canadian Oil Sands    For       For        Management 
Limited and Authorize Board to Fix                                  
Remuneration of Auditors                                            
2     Approve Auditors of Canadian Oil Sands    For       For        Management 
Trust and Authorize Board to Fix                                    
Remuneration of Auditors                                            
3     Elect Marcel Coutu, E. Susan Evans,       For       For        Management 
Donald Mazankowski, Wayne Newhouse,                                 
Walter O'Donoghue, C.E. Shultz as                                   
Directors of Canadian Oil Sands Limited                             
4     Amend Unitholder Rights Plan (Poison      For       For        Management 
Pill)                                                               

--------------------------------------------------------------------------------

CANON INC.                                                                      

Ticker:       CAJ            Security ID:  J05124144                            
Meeting Date: MAR 30, 2004   Meeting Type: Annual                               
Record Date:  DEC 31, 2003                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 15,                             
Final JY 35, Special JY 0                                           
2     Amend Articles to: Authorize Share        For       For        Management 
Repurchases at Board's Discretion                                   
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
3.4   Elect Director                            For       For        Management 
3.5   Elect Director                            For       For        Management 
3.6   Elect Director                            For       For        Management 
3.7   Elect Director                            For       For        Management 
3.8   Elect Director                            For       For        Management 
3.9   Elect Director                            For       For        Management 
3.10  Elect Director                            For       For        Management 
3.11  Elect Director                            For       For        Management 
3.12  Elect Director                            For       For        Management 
3.13  Elect Director                            For       For        Management 
3.14  Elect Director                            For       For        Management 
3.15  Elect Director                            For       For        Management 
3.16  Elect Director                            For       For        Management 
3.17  Elect Director                            For       For        Management 
3.18  Elect Director                            For       For        Management 
3.19  Elect Director                            For       For        Management 
3.20  Elect Director                            For       For        Management 
3.21  Elect Director                            For       For        Management 
3.22  Elect Director                            For       For        Management 
3.23  Elect Director                            For       For        Management 
3.24  Elect Director                            For       For        Management 
3.25  Elect Director                            For       For        Management 
3.26  Elect Director                            For       For        Management 
3.27  Elect Director                            For       For        Management 
4.1   Appoint Internal Statutory Auditor        For       For        Management 
4.2   Appoint Internal Statutory Auditor        For       For        Management 
4.3   Appoint Internal Statutory Auditor        For       Against    Management 
5     Appoint Additional External Auditor       For       For        Management 
6     Approve Retirement Bonuses for Directors  For       For        Management 
and Statutory Auditors                                              
7     Approve Adjustment to Aggregate           For       For        Management 
Compensation Ceiling for Directors and                              
Statutory Auditors                                                  

--------------------------------------------------------------------------------

CAPITAL ONE FINANCIAL CORP.                                                     

Ticker:       COF            Security ID:  14040H105                            
Meeting Date: APR 29, 2004   Meeting Type: Annual                               
Record Date:  FEB 29, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director W. Ronald Dietz           For       For        Management 
1.2   Elect  Director Lewis Hay, III            For       For        Management 
1.3   Elect  Director Mayo A. Shattuck, III     For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Approve Omnibus Stock Plan                For       For        Management 

--------------------------------------------------------------------------------

CHECK POINT SOFTWARE TECHNOLOGIES INC                                           

Ticker:       CHKP           Security ID:  M22465104                            
Meeting Date: JUN 30, 2004   Meeting Type: Annual                               
Record Date:  MAY 21, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     ELECTION OF DIRECTORS (OTHER THAN OUTSIDE For       For        Management 
DIRECTORS): (NOTE: DIRECTORS ARE ELECTED                            
AS A GROUP, NOT INDIVIDUALLY): GIL SHWED,                           
MARIUS NACHT, DAVID RUBNER, TAL SHAVIT.                             
2     TO RATIFY THE CONSOLIDATED FINANCIAL      For       For        Management 
STATEMENTS OF THE COMPANY FOR THE YEAR                              
ENDED DECEMBER 31, 2003.                                            
3     TO RATIFY THE APPOINTMENT AND             For       For        Management 
COMPENSATION OF THE COMPANY S INDEPENDENT                           
PUBLIC ACCOUNTANTS.                                                 
4     TO APPROVE AMENDMENT TO DIRECTORS         For       Against    Management 
COMPENSATION.                                                       
5     TO APPROVE EXECUTIVE OFFICERS             For       Against    Management 
COMPENSATION.                                                       

--------------------------------------------------------------------------------

CHINA RESOURCES LAND LTD. (FRMRLY. CHINA RESOURCES BEIJING L                    

Ticker:                      Security ID:  G2108Y105                            
Meeting Date: JUN 18, 2004   Meeting Type: Annual                               
Record Date:  JUN 14, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2     Approve Final Dividend                    For       For        Management 
3a    Reelect Ning Gaoning as Director          For       For        Management 
3b    Reelect Lau Pak Shing as Director         For       For        Management 
3c    Reelect Zhong Yi as Director              For       For        Management 
3d    Reelect Wang Shi as Director              For       For        Management 
3e    Approve Remuneration of Directors         For       For        Management 
4     Reappoint Auditors and Authorize Board to For       For        Management 
Fix Their Remuneration                                              
5     Approve Repurchase of Up to 10 Percent of For       For        Management 
Issued Capital                                                      
6     Approve Issuance of Equity or             For       Against    Management 
Equity-Linked Securities without                                    
Preemptive Rights                                                   
7     Authorize Reissuance of Repurchased       For       For        Management 
Shares                                                              
8     Amend Articles Re: Voting at General      For       For        Management 
Meetings, Material Interest of Directors                            
in Contracts Entered into by the Company,                           
Retirement and Nomination of Directors,                             
Electronic Communication                                            

--------------------------------------------------------------------------------

CITIGROUP INC.                                                                  

Ticker:       C              Security ID:  172967101                            
Meeting Date: APR 20, 2004   Meeting Type: Annual                               
Record Date:  FEB 27, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director C. Michael Armstrong      For       For        Management 
1.2   Elect  Director Alain J.P. Belda          For       For        Management 
1.3   Elect  Director George David              For       For        Management 
1.4   Elect  Director Kenneth T. Derr           For       For        Management 
1.5   Elect  Director John M. Deutch            For       For        Management 
1.6   Elect  Director Roberto Hernandez Ramirez For       For        Management 
1.7   Elect  Director Ann Dibble Jordan         For       For        Management 
1.8   Elect  Director Dudley C. Mecum           For       For        Management 
1.9   Elect  Director Richard D. Parsons        For       For        Management 
1.10  Elect  Director Andrall E. Pearson        For       For        Management 
1.11  Elect  Director Charles Prince            For       For        Management 
1.12  Elect  Director Robert E. Rubin           For       For        Management 
1.13  Elect  Director Franklin A. Thomas        For       For        Management 
1.14  Elect  Director Sanford I. Weill          For       For        Management 
1.15  Elect  Director Robert B. Willumstad      For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Limit Executive Compensation              Against   Against    Shareholder
4     Report on Political                       Against   Against    Shareholder
Contributions/Activities                                            
5     Prohibit Awards to Executives             Against   Against    Shareholder
6     Separate Chairman and CEO Positions       Against   Against    Shareholder

--------------------------------------------------------------------------------

CITY NATIONAL CORP.                                                             

Ticker:       CYN            Security ID:  178566105                            
Meeting Date: APR 28, 2004   Meeting Type: Annual                               
Record Date:  MAR 1, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Russell Goldsmith         For       For        Management 
1.2   Elect  Director Michael L. Meyer          For       For        Management 
1.3   Elect  Director Ronald L. Olson           For       Withhold   Management 
2     Amend Omnibus Stock Plan                  For       For        Management 
3     Amend Executive Incentive Bonus Plan      For       For        Management 

--------------------------------------------------------------------------------

CLEAR CHANNEL COMMUNICATIONS, INC.                                              

Ticker:       CCU            Security ID:  184502102                            
Meeting Date: APR 28, 2004   Meeting Type: Annual                               
Record Date:  MAR 8, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Alan D. Feld              For       For        Management 
1.2   Elect  Director Thomas O. Hicks           For       For        Management 
1.3   Elect  Director Perry J. Lewis            For       For        Management 
1.4   Elect  Director L. Lowry Mays             For       For        Management 
1.5   Elect  Director Mark P. Mays              For       For        Management 
1.6   Elect  Director Randall T. Mays           For       For        Management 
1.7   Elect  Director B.J. Mccombs              For       For        Management 
1.8   Elect  Director Phyllis B. Riggins        For       For        Management 
1.9   Elect  Director Theordore H. Strauss      For       For        Management 
1.10  Elect  Director J.C. Watts                For       For        Management 
1.11  Elect  Director John H. Williams          For       For        Management 
2     Ratify Auditors                           For       For        Management 

--------------------------------------------------------------------------------

COLGATE-PALMOLIVE CO.                                                           

Ticker:       CL             Security ID:  194162103                            
Meeting Date: MAY 7, 2004    Meeting Type: Annual                               
Record Date:  MAR 9, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Jill K. Conway            For       For        Management 
1.2   Elect  Director Ronald E. Ferguson        For       For        Management 
1.3   Elect  Director Carlos M. Gutierrez       For       For        Management 
1.4   Elect  Director Ellen M. Hancock          For       For        Management 
1.5   Elect  Director David W. Johnson          For       For        Management 
1.6   Elect  Director Richard J. Kogan          For       For        Management 
1.7   Elect  Director Delano E. Lewis           For       For        Management 
1.8   Elect  Director Reuben Mark               For       For        Management 
1.9   Elect  Director Elizabeth A. Monrad       For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Approve Executive Incentive Bonus Plan    For       For        Management 
4     Submit Severance Agreement                Against   Against    Shareholder
(Change-in-Control) to Shareholder Vote                             
5     Adopt ILO Based Code of Conduct           Against   Against    Shareholder
6     Separate Chairman and CEO Positions       Against   Against    Shareholder

--------------------------------------------------------------------------------

COMPANHIA VALE DO RIO DOCE                                                      

Ticker:                      Security ID:  204412209                            
Meeting Date: APR 28, 2004   Meeting Type: Annual                               
Record Date:  MAR 29, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     APPRECIATION OF THE MANAGEMENT S REPORT   For       For        Management 
AND ANALYSIS, DISCUSSION AND VOTE ON THE                            
FINANCIAL STATEMENTS FOR THE FISCAL YEAR                            
ENDING DECEMBER 31, 2003.                                           
2     PROPOSAL FOR THE DESTINATION OF THE       For       For        Management 
PROFITS OF THE SAID FISCAL YEAR.                                    
3     ESTABLISHMENT OF THE TOTAL AND ANNUAL     For       For        Management 
REMUNERATION OF THE MEMBERS OF THE                                  
COMPANY S MANAGEMENT.                                               
4     ELECTION OF THE MEMBERS OF THE FISCAL     For       For        Management 
COUNCIL AND ESTABLISHMENT OF THEIR                                  
REMUNERATION.                                                       
5     PROPOSAL OF CAPITAL INCREASE, THROUGH THE For       For        Management 
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.                                           

--------------------------------------------------------------------------------

COMPUTER ASSOCIATES INTERNATIONAL, INC.                                         

Ticker:       CA             Security ID:  204912109                            
Meeting Date: AUG 27, 2003   Meeting Type: Annual                               
Record Date:  JUL 2, 2003                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect Director Russell M. Artzt           For       For        Management 
1.2   Elect Director Kenneth Cron               For       For        Management 
1.3   Elect Director Alfonse M. D'Amato         For       For        Management 
1.4   Elect Director Gary J. Fernandes          For       For        Management 
1.5   Elect Director Sanjay Kumar               For       For        Management 
1.6   Elect Director Robert E. La Blanc         For       For        Management 
1.7   Elect Director Jay W. Lorsch              For       For        Management 
1.8   Elect Director Lewis S. Ranieri           For       For        Management 
1.9   Elect Director Walter P. Schuetze         For       For        Management 
1.10  Elect Director Alex Serge Vieux           For       For        Management 
2     Approve Non-Employee Director Omnibus     For       For        Management 
Stock Plan                                                          
3     Ratify Auditors                           For       For        Management 

--------------------------------------------------------------------------------

CONAGRA FOODS INC.                                                              

Ticker:       CAG            Security ID:  205887102                            
Meeting Date: SEP 25, 2003   Meeting Type: Annual                               
Record Date:  JUL 31, 2003                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect Director David H. Batchelder        For       For        Management 
1.2   Elect Director Robert A. Krane            For       For        Management 
1.3   Elect Director Mark H. Rauenhorst         For       For        Management 
1.4   Elect Director Bruce Rohde                For       For        Management 
2     Ratify Auditors                           For       For        Management 
4     Genetically Modified Organisms (GMO)      Against   Against    Shareholder
5     Modify Current and Future Stock Option    Against   Against    Shareholder
Plans                                                               
6     Submit Shareholder Rights Plan (Poison    Against   For        Shareholder
Pill) to Shareholder Vote                                           

--------------------------------------------------------------------------------

CONCORD EFS, INC.                                                               

Ticker:       CE             Security ID:  206197105                            
Meeting Date: FEB 26, 2004   Meeting Type: Special                              
Record Date:  JAN 16, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Merger Agreement                  For       For        Management 

--------------------------------------------------------------------------------

COOPER CAMERON CORP.                                                            

Ticker:       CAM            Security ID:  216640102                            
Meeting Date: MAY 13, 2004   Meeting Type: Annual                               
Record Date:  MAR 15, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Lamar Norsworthy          For       For        Management 
1.2   Elect  Director Michael E. Patrick        For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Prepare Sustainability Report             Against   For        Shareholder

--------------------------------------------------------------------------------

CORNING INC.                                                                    

Ticker:       GLW            Security ID:  219350105                            
Meeting Date: APR 29, 2004   Meeting Type: Annual                               
Record Date:  MAR 1, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Jeremy R. Knowles         For       For        Management 
1.2   Elect  Director Eugene C. Sit             For       For        Management 
1.3   Elect  Director William D. Smithburg      For       For        Management 
1.4   Elect  Director Hansel E. Tookes II       For       For        Management 
1.5   Elect  Director Wendell P. Weeks          For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Submit Severance Agreement                Against   Against    Shareholder
(Change-in-Control) to Shareholder Vote                             

--------------------------------------------------------------------------------

COUNTRYWIDE FINANCIAL CORP.                                                     

Ticker:       CFC            Security ID:  222372104                            
Meeting Date: JUN 16, 2004   Meeting Type: Annual                               
Record Date:  APR 19, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Henry G. Cisneros         For       For        Management 
1.2   Elect  Director Robert J. Donato          For       For        Management 
1.3   Elect  Director Michael E. Dougherty      For       For        Management 
1.4   Elect  Director Martin R. Melone          For       For        Management 
1.5   Elect  Director Harley W. Snyder          For       For        Management 
2     Amend Omnibus Stock Plan                  For       For        Management 

--------------------------------------------------------------------------------

CREDIT SAISON CO. LTD.                                                          

Ticker:                      Security ID:  J7007M109                            
Meeting Date: JUN 29, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 0,                              
Final JY 18, Special JY 0                                           
2     Amend Articles to: Authorize Share        For       For        Management 
Repurchases at Board's Discretion                                   
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
4     Approve Retirement Bonuses for Directors  For       For        Management 

--------------------------------------------------------------------------------

DAEGU BANK                                                                      

Ticker:                      Security ID:  Y1859G115                            
Meeting Date: MAR 19, 2004   Meeting Type: Annual                               
Record Date:  DEC 31, 2003                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Appropriation of Income and       For       For        Management 
Dividends of KRW 250 Per Share                                      
2     Amend Articles of Incorporation to        For       For        Management 
Introduce Provisions to Strengthen                                  
Expertise of Outside Directors and Audit                            
Committee Members                                                   
3     Elect Directors                           For       For        Management 
4     Elect Members of Audit Committee          For       For        Management 
5     Approve Stock Option Grants               For       For        Management 

--------------------------------------------------------------------------------

DANSKE BANK AS (FORMERLY DEN DANSKE BANK)                                       

Ticker:       DDBD           Security ID:  K22272114                            
Meeting Date: MAR 23, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Financial Statements and          For       For        Management 
Discharge Directors; Approve Allocation                             
of Income and Dividends of DKK 6.55 Per                             
Share                                                               
2     Reelect Joergen Moeller, Niels Holm,      For       For        Management 
Peter Hoejland, and Majken Schultz as                               
Directors                                                           
3     Reelect Grant Thornton and KPMG as        For       For        Management 
Auditors                                                            
4     Authorize Repurchase of Up to Ten Percent For       For        Management 
of Issued Share Capital                                             
5     Approve DKK 394.1 Million Reduction in    For       For        Management 
Share Capital via Share Cancellation                                
6     Amend Articles Re: Quorum and Voting      For       Against    Management 
Majority Requirements                                               
7     Other Business (Non-Voting)               None      None       Management 

--------------------------------------------------------------------------------

DEAN FOODS COMPANY                                                              

Ticker:       DF             Security ID:  242370104                            
Meeting Date: MAY 18, 2004   Meeting Type: Annual                               
Record Date:  MAR 26, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Alan J. Bernon            For       For        Management 
1.2   Elect  Director Gregg L. Engles           For       For        Management 
1.3   Elect  Director Joseph S. Hardin, Jr.     For       For        Management 
1.4   Elect  Director Ronald Kirk               For       For        Management 
1.5   Elect  Director John S. Llewellyn, Jr.    For       For        Management 
2     Ratify Auditors                           For       For        Management 

--------------------------------------------------------------------------------

DOVER CORP.                                                                     

Ticker:       DOV            Security ID:  260003108                            
Meeting Date: APR 20, 2004   Meeting Type: Annual                               
Record Date:  FEB 27, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director David H. Benson           For       For        Management 
1.2   Elect  Director Jean-Pierre M. Ergas      For       For        Management 
1.3   Elect  Director Kristiane C. Graham       For       For        Management 
1.4   Elect  Director Ronald L. Hoffman         For       For        Management 
1.5   Elect  Director James L. Koley            For       For        Management 
1.6   Elect  Director Richard K. Lochridge      For       For        Management 
1.7   Elect  Director Thomas L. Reece           For       For        Management 
1.8   Elect  Director Bernard G. Rethore        For       For        Management 
1.9   Elect  Director Gary L. Roubos            For       For        Management 
1.10  Elect  Director Michael B. Stubbs         For       For        Management 
2     Approve Omnibus Stock Plan                For       For        Management 
3     Other Business                            For       Against    Management 

--------------------------------------------------------------------------------

E.I. DU PONT DE NEMOURS & CO.                                                   

Ticker:       DD             Security ID:  263534109                            
Meeting Date: APR 28, 2004   Meeting Type: Annual                               
Record Date:  MAR 9, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Alain J. P. Belda         For       For        Management 
1.2   Elect  Director Richard H. Brown          For       For        Management 
1.3   Elect  Director Curtis J. Crawford        For       For        Management 
1.4   Elect  Director John T. Dillon            For       For        Management 
1.5   Elect  Director Louisa C. Duemling        For       For        Management 
1.6   Elect  Director Charles O. Holliday, Jr.  For       For        Management 
1.7   Elect  Director Deborah C. Hopkins        For       For        Management 
1.8   Elect  Director Lois D. Juliber           For       For        Management 
1.9   Elect  Director Masahisa Naitoh           For       For        Management 
1.10  Elect  Director William K. Reilly         For       For        Management 
1.11  Elect  Director H. Rodney Sharp, III      For       For        Management 
1.12  Elect  Director Charles M. Vest           For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Report on Executive Ties to Government    Against   Against    Shareholder
4     Adopt and Report on a Code of Corporate   Against   Against    Shareholder
Conduct                                                             
5     Limit Executive Compensation              Against   Against    Shareholder

--------------------------------------------------------------------------------

EISAI CO. LTD.                                                                  

Ticker:       ESALY          Security ID:  J12852117                            
Meeting Date: JUN 24, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 18,                             
Final JY 18, Special JY 0                                           
2     Amend Articles to: Adopt U.S.-Style Board For       For        Management 
Structure - Authorize Share Repurchases                             
at Board's Discretion - Limit Directors'                            
Legal Liability                                                     
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
3.4   Elect Director                            For       For        Management 
3.5   Elect Director                            For       For        Management 
3.6   Elect Director                            For       For        Management 
3.7   Elect Director                            For       For        Management 
3.8   Elect Director                            For       For        Management 
3.9   Elect Director                            For       For        Management 
3.10  Elect Director                            For       For        Management 
3.11  Elect Director                            For       For        Management 
4     Approve Retirement Bonuses for Directors  For       Against    Management 
and Statutory Auditors                                              
5     Approve Executive Stock Option Plan       For       Against    Management 

--------------------------------------------------------------------------------

EMC CORP.                                                                       

Ticker:       EMC            Security ID:  268648102                            
Meeting Date: MAY 5, 2004    Meeting Type: Annual                               
Record Date:  MAR 8, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director John R. Egan              For       For        Management 
1.2   Elect  Director Michael C. Ruettgers      For       For        Management 
1.3   Elect  Director David N. Strohm           For       For        Management 
2     Amend Omnibus Stock Plan                  For       For        Management 
3     Amend Employee Stock Purchase Plan        For       For        Management 
4     Ratify Auditors                           For       For        Management 
5     Limit Executive Compensation              Against   Against    Shareholder

--------------------------------------------------------------------------------

ENCANA CORP[FORMERLY PANCANADIAN ENERGY CORP                                    

Ticker:       ECA.           Security ID:  292505104                            
Meeting Date: APR 28, 2004   Meeting Type: Annual/Special                       
Record Date:  MAR 8, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Michael N. Chernoff       For       For        Management 
1.2   Elect  Director Ralph S. Cunningham       For       For        Management 
1.3   Elect  Director Patrick D. Daniel         For       For        Management 
1.4   Elect  Director Ian W. Delaney            For       For        Management 
1.5   Elect  Director William R. Fatt           For       For        Management 
1.6   Elect  Director Michael A. Grandin        For       For        Management 
1.7   Elect  Director Barry W. Harrison         For       For        Management 
1.8   Elect  Director Richard F. Haskayne       For       For        Management 
1.9   Elect  Director Dale A. Lucas             For       For        Management 
1.10  Elect  Director Ken F. McCready           For       For        Management 
1.11  Elect  Director Gwyn Morgan               For       For        Management 
1.12  Elect  Director Valerie A.A. Nielsen      For       For        Management 
1.13  Elect  Director David P. O'Brien          For       For        Management 
1.14  Elect  Director Jane L. Peverett          For       For        Management 
1.15  Elect  Director Dennis A. Sharp           For       For        Management 
1.16  Elect  Director James M. Stanford         For       For        Management 
2     Approve Auditors and Authorize Board to   For       For        Management 
Fix Remuneration of Auditors                                        
3     Adopt New By-Law No. 1                    For       For        Management 
4     Amend Shareholder Rights Plan (Poison     For       Against    Management 
Pill)                                                               

--------------------------------------------------------------------------------

FANNIE MAE                                                                      

Ticker:       FNM            Security ID:  313586109                            
Meeting Date: MAY 25, 2004   Meeting Type: Annual                               
Record Date:  APR 6, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Stephen B. Ashley         For       For        Management 
1.2   Elect  Director Kenneth M. Duberstein     For       For        Management 
1.3   Elect  Director Thomas P. Gerrity         For       For        Management 
1.4   Elect  Director Timothy Howard            For       For        Management 
1.5   Elect  Director Ann Korologos             For       For        Management 
1.6   Elect  Director Frederic V. Malek         For       For        Management 
1.7   Elect  Director Donald B. Marron          For       For        Management 
1.8   Elect  Director Daniel H. Mudd            For       For        Management 
1.9   Elect  Director Anne M. Mulcahy           For       For        Management 
1.10  Elect  Director Joe K. Pickett            For       For        Management 
1.11  Elect  Director Leslie Rahl               For       For        Management 
1.12  Elect  Director Franklin D. Raines        For       For        Management 
1.13  Elect  Director H. Patrick Swygert        For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Amend Employee Stock Purchase Plan        For       For        Management 
4     Provide for Cumulative Voting             Against   Against    Shareholder

--------------------------------------------------------------------------------

FIRST DATA CORP.                                                                

Ticker:       FDC            Security ID:  319963104                            
Meeting Date: MAY 19, 2004   Meeting Type: Annual                               
Record Date:  MAR 22, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Henry C. Duques           For       For        Management 
1.2   Elect  Director Charles T. Fote           For       For        Management 
1.3   Elect  Director Richard P. Kiphart        For       For        Management 
1.4   Elect  Director Joan E. Spero             For       For        Management 
2     Ratify Auditors                           For       For        Management 

--------------------------------------------------------------------------------

FOUNDRY NETWORKS, INC.                                                          

Ticker:       FDRY           Security ID:  35063R100                            
Meeting Date: JUN 1, 2004    Meeting Type: Annual                               
Record Date:  APR 9, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Bobby R. Johnson, Jr.     For       For        Management 
1.2   Elect  Director Andrew K. Ludwick         For       For        Management 
1.3   Elect  Director Alfred J. Amoroso         For       For        Management 
1.4   Elect  Director C. Nicholas Keating, Jr.  For       For        Management 
1.5   Elect  Director J. Steven Young           For       Withhold   Management 
1.6   Elect  Director Alan L. Earhart           For       For        Management 
2     Ratify Auditors                           For       For        Management 

--------------------------------------------------------------------------------

FREDDIE MAC                                                                     

Ticker:       FRE            Security ID:  313400301                            
Meeting Date: MAR 31, 2004   Meeting Type: Annual                               
Record Date:  FEB 20, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Joan E. Donoghue          For       For        Management 
1.2   Elect  Director Michelle Engler           For       For        Management 
1.3   Elect  Director Richard Karl Goeltz       For       For        Management 
1.4   Elect  Director George D. Gould           For       For        Management 
1.5   Elect  Director Henry Kaufman             For       For        Management 
1.6   Elect  Director John B. Mccoy             For       For        Management 
1.7   Elect  Director Shaun F. O'Malley         For       For        Management 
1.8   Elect  Director Ronald F. Poe             For       For        Management 
1.9   Elect  Director Stephen A. Ross           For       For        Management 
1.10  Elect  Director Donald J. Schuenke        For       For        Management 
1.11  Elect  Director Christina Seix            For       For        Management 
1.12  Elect  Director Richard F. Syron          For       For        Management 
1.13  Elect  Director William J. Turner         For       For        Management 
2     Ratify Auditors                           For       For        Management 

--------------------------------------------------------------------------------

FRIEDMAN, BILLINGS, RAMSEY, GROUP, INC.                                         

Ticker:       FBR            Security ID:  358434108                            
Meeting Date: MAY 19, 2004   Meeting Type: Annual                               
Record Date:  APR 23, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Emanuel J. Friedman       For       For        Management 
1.2   Elect  Director Eric F. Billings          For       For        Management 
1.3   Elect  Director W. Russell Ramsey         For       For        Management 
1.4   Elect  Director Daniel J. Altobello       For       For        Management 
1.5   Elect  Director Peter A. Gallagher        For       For        Management 
1.6   Elect  Director Stephen D. Harlan         For       For        Management 
1.7   Elect  Director Russell C. Lindner        For       For        Management 
1.8   Elect  Director Wallace L. Timmeny        For       For        Management 
1.9   Elect  Director John T. Wall              For       For        Management 
2     Approve Omnibus Stock Plan                For       For        Management 
3     Ratify Auditors                           For       For        Management 

--------------------------------------------------------------------------------

GARMIN LTD                                                                      

Ticker:       GRMN           Security ID:  G37260109                            
Meeting Date: JUN 4, 2004    Meeting Type: Annual                               
Record Date:  APR 19, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Gene M. Betts             For       For        Management 
1.2   Elect  Director Thomas A. Mcdonnell       For       For        Management 

--------------------------------------------------------------------------------

GENERAL DYNAMICS CORP.                                                          

Ticker:       GD             Security ID:  369550108                            
Meeting Date: MAY 5, 2004    Meeting Type: Annual                               
Record Date:  MAR 12, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Nicholas D. Chabraja      For       For        Management 
1.2   Elect  Director James S. Crown            For       For        Management 
1.3   Elect  Director Lester Crown              For       For        Management 
1.4   Elect  Director William P. Fricks         For       For        Management 
1.5   Elect  Director Charles H. Goodman        For       For        Management 
1.6   Elect  Director Jay L. Johnson            For       For        Management 
1.7   Elect  Director George A. Joulwan         For       For        Management 
1.8   Elect  Director Paul G. Kaminski          For       For        Management 
1.9   Elect  Director John M. Keane             For       For        Management 
1.10  Elect  Director Lester L. Lyles           For       For        Management 
1.11  Elect  Director Carl E. Mundy, Jr.        For       For        Management 
1.12  Elect  Director Robert Walmsley           For       For        Management 
2     Approve Omnibus Stock Plan                For       For        Management 
3     Submit Shareholder Rights Plan (Poison    Against   For        Shareholder
Pill) to Shareholder Vote                                           
4     Report on Foreign Military Sales          Against   Against    Shareholder

--------------------------------------------------------------------------------

GENERAL ELECTRIC CO.                                                            

Ticker:       GE             Security ID:  369604103                            
Meeting Date: APR 28, 2004   Meeting Type: Annual                               
Record Date:  MAR 1, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director James I. Cash, Jr.        For       For        Management 
1.2   Elect  Director Dennis D. Dammerman       For       For        Management 
1.3   Elect  Director Ann M. Fudge              For       For        Management 
1.4   Elect  Director Claudio X. Gonzalez       For       For        Management 
1.5   Elect  Director Jeffrey R. Immelt         For       For        Management 
1.6   Elect  Director Andrea Jung               For       For        Management 
1.7   Elect  Director Alan G. Lafley            For       For        Management 
1.8   Elect  Director Kenneth G. Langone        For       For        Management 
1.9   Elect  Director Ralph S. Larsen           For       For        Management 
1.10  Elect  Director Rochelle B. Lazarus       For       For        Management 
1.11  Elect  Director Sam Nunn                  For       For        Management 
1.12  Elect  Director Roger S. Penske           For       For        Management 
1.13  Elect  Director Robert J. Swieringa       For       For        Management 
1.14  Elect  Director Douglas A. Warner III     For       For        Management 
1.15  Elect  Director Robert C. Wright          For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Amend Omnibus Stock Plan                  For       For        Management 
4     Provide for Cumulative Voting             Against   Against    Shareholder
5     Eliminate Animal Testing                  Against   Against    Shareholder
6     Report on Nuclear Fuel Storage Risks      Against   Against    Shareholder
7     Report on PCB Clean-up                    Against   Against    Shareholder
8     Report on Foreign Outsourcing             Against   Against    Shareholder
9     Prepare Sustainability Report             Against   Against    Shareholder
10    Limit Composition of Management           Against   Against    Shareholder
Development and Compensation Committee to                           
Independent Directors                                               
11    Report on Pay Disparity                   Against   For        Shareholder
12    Limit Awards to Executives                Against   Against    Shareholder
13    Limit Board Service for Other Companies   Against   For        Shareholder
14    Separate Chairman and CEO Positions       Against   Against    Shareholder
15    Hire Advisor/Maximize Shareholder Value   Against   Against    Shareholder
16    Adopt a Retention Ratio for Executives    Against   Against    Shareholder
and Directors                                                       
17    Require 70% to 80% Independent Board      Against   Against    Shareholder
18    Report on Political                       Against   Against    Shareholder
Contributions/Activities                                            

--------------------------------------------------------------------------------

HANA BANK                                                                       

Ticker:                      Security ID:  Y7642S100                            
Meeting Date: MAR 26, 2004   Meeting Type: Annual                               
Record Date:  DEC 31, 2003                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Financial Statements              For       For        Management 
2     Approve Appropriation of Retained         For       For        Management 
Earnings and Dividends of KRW 500 Per                               
Share                                                               
3     Approve Capital Reduction/Share           For       For        Management 
Cancellation                                                        
4.1   Elect Directors                           For       For        Management 
4.2   Elect Members of Audit Committee          For       Against    Management 
4.3   Appoint Auditor                           For       For        Management 
5     Approve Limit on Remuneration of          For       For        Management 
Directors                                                           
6     Approve Stock Option Grants               For       For        Management 

--------------------------------------------------------------------------------

HCA, INC.                                                                       

Ticker:       HCA            Security ID:  404119109                            
Meeting Date: MAY 27, 2004   Meeting Type: Annual                               
Record Date:  APR 1, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director C. Michael Armstrong      For       For        Management 
1.2   Elect  Director Magdalena H. Averhoff,    For       For        Management 
M.D.                                                                
1.3   Elect  Director Jack O. Bovender, Jr.     For       For        Management 
1.4   Elect  Director Richard M. Bracken        For       For        Management 
1.5   Elect  Director Martin Feldstein          For       For        Management 
1.6   Elect  Director Thomas F. Frist, Jr.,     For       For        Management 
M.D.                                                                
1.7   Elect  Director Frederick W. Gluck        For       For        Management 
1.8   Elect  Director Glenda A. Hatchett        For       For        Management 
1.9   Elect  Director Charles O. Holliday, Jr.  For       For        Management 
1.10  Elect  Director T. Michael Long           For       For        Management 
1.11  Elect  Director John H. McArthur          For       For        Management 
1.12  Elect  Director Kent C. Nelson            For       For        Management 
1.13  Elect  Director Frank S. Royal, M.D.      For       For        Management 
1.14  Elect  Director Harold T. Shapiro         For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Amend Management Stock Purchase Plan      For       For        Management 

--------------------------------------------------------------------------------

HDFC BANK LIMITED                                                               

Ticker:                      Security ID:  Y3119P117                            
Meeting Date: MAY 26, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2     Approve Dividends of INR 3.5 Per Share    For       For        Management 
3     Reappoint V.R. Gadwal as Director         For       For        Management 
4     Reappoint R. Karnad as Director           For       For        Management 
5     Approve P.C. Hansotia & Co. as Auditors   For       For        Management 
and Authorize Board to Fix Their                                    
Remuneration                                                        
6     Appoint B. Parikh as Director             For       For        Management 
7     Appoint R. Kapur as Director              For       For        Management 
8     Approve Reappointment and Remuneration of For       For        Management 
J. Capoor, Part-time Chairman                                       
9     Approve Reappointment and Remuneration of For       For        Management 
A. Puri, Managing Director                                          
10    Approve Voluntary Delisting of Company    For       For        Management 
Shares                                                              
11    Approve Increase in Borrowing Powers      For       For        Management 

--------------------------------------------------------------------------------

HEWLETT-PACKARD CO.                                                             

Ticker:       HPQ            Security ID:  428236103                            
Meeting Date: MAR 17, 2004   Meeting Type: Annual                               
Record Date:  JAN 20, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director L.T. Babbio, Jr.          For       For        Management 
1.2   Elect  Director P.C. Dunn                 For       For        Management 
1.3   Elect  Director C.S. Fiorina              For       For        Management 
1.4   Elect  Director R.A. Hackborn             For       For        Management 
1.5   Elect  Director G.A. Keyworth II          For       For        Management 
1.6   Elect  Director R.E. Knowling, Jr.        For       For        Management 
1.7   Elect  Director S.M. Litvack              For       Withhold   Management 
1.8   Elect  Director R.L. Ryan                 For       For        Management 
1.9   Elect  Director L.S. Salhany              For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Approve Omnibus Stock Plan                For       For        Management 
4     Expense Stock Options                     Against   For        Shareholder

--------------------------------------------------------------------------------

HILB ROGAL & HOBBS CO                                                           

Ticker:       HRH            Security ID:  431294107                            
Meeting Date: MAY 4, 2004    Meeting Type: Annual                               
Record Date:  MAR 15, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director J.S.M. French             For       For        Management 
1.2   Elect  Director Robert B. Lockhart        For       For        Management 
1.3   Elect  Director Anthony F. Markel         For       For        Management 
1.4   Elect  Director Robert S. Ukrop           For       For        Management 
2     Change Company Name                       For       For        Management 
3     Approve Deferred Compensation Plan        For       For        Management 
4     Approve Employee Stock Purchase Plan      For       For        Management 
5     Adjourn Meeting                           For       Against    Management 

--------------------------------------------------------------------------------

HOPSON DEVELOPMENT HOLDINGS                                                     

Ticker:                      Security ID:  G4600H101                            
Meeting Date: MAY 24, 2004   Meeting Type: Annual                               
Record Date:  MAY 17, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2a    Reelect Xiang Bin as Executive Director   For       For        Management 
2b    Reelect Chen Chang Ying as Executive      For       For        Management 
Director                                                            
2c    Authorize Board to Fix Directors'         For       For        Management 
Remuneration                                                        
3     Approve Final Dividend                    For       For        Management 
4     Reappoint PricewaterhouseCoopers as       For       For        Management 
Auditors and Authorize Board to Fix Their                           
Remuneration                                                        
5a    Approve Issuance of Equity or             For       Against    Management 
Equity-Linked Securities without                                    
Preemptive Rights                                                   
5b    Approve Repurchase of Up to 10 Percent of For       For        Management 
Issued Capital                                                      
5c    Authorize Reissuance of Repurchased       For       For        Management 
Shares                                                              
6     Amend Bylaws Re: Voting at General        For       For        Management 
Meetings, Material Interest of Directors                            
in Contracts Entered into by the Company                            

--------------------------------------------------------------------------------

HUTCHISON WHAMPOA                                                               

Ticker:                      Security ID:  Y38024108                            
Meeting Date: MAY 20, 2004   Meeting Type: Special                              
Record Date:  MAY 12, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Amend Articles Re: Voting at Meetings,    For       For        Management 
Nomination of Directors, Material                                   
Interest of Directors in Contracts                                  
Entered into by the Company                                         
1     Approve Share Option Scheme of Hutchison  For       Against    Management 
Harbour Ring Ltd.                                                   
2     Approve Share Option Scheme of Hutchison  For       Against    Management 
3G UK Hldgs. Ltd.                                                   
3     Approve Share Option Scheme of Hutchison  For       Against    Management 
3G Italia S.p.A.                                                    

--------------------------------------------------------------------------------

HUTCHISON WHAMPOA                                                               

Ticker:                      Security ID:  Y38024108                            
Meeting Date: MAY 20, 2004   Meeting Type: Annual                               
Record Date:  MAY 12, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2     Approve Final Dividend of HK$1.22 Per     For       For        Management 
Share                                                               
3a    Elect Li Ka-shing as Director             For       For        Management 
3b    Elect Frank John Sixt as Director         For       For        Management 
3c    Elect George Colin Magnus as Director     For       For        Management 
3d    Elect Michael David Kadoorie as Director  For       For        Management 
4     Approve Auditors and Authorize Board to   For       For        Management 
Fix Their Remuneration                                              
5a    Approve Issuance of Equity or             For       Against    Management 
Equity-Linked Securities without                                    
Preemptive Rights                                                   
5b    Approve Repurchase of Up to 10 Percent of For       For        Management 
Issued Capital                                                      
5c    Authorize Reissuance of Repurchased       For       For        Management 
Shares                                                              

--------------------------------------------------------------------------------

HYUNDAI MOTOR CO.                                                               

Ticker:                      Security ID:  Y38472109                            
Meeting Date: MAR 12, 2004   Meeting Type: Annual                               
Record Date:  DEC 31, 2003                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Appropriation of Income and       For       For        Management 
Dividends of KRW 1000 Per Share                                     
2     Amend Articles of Incorporation           For       For        Management 
3     Elect Directors                           For       For        Management 
4     Elect Member of Audit Committee           For       For        Management 
5     Approve Limit on Remuneration of          For       For        Management 
Directors                                                           

--------------------------------------------------------------------------------

ICHIA TECHNOLOGIES INC                                                          

Ticker:                      Security ID:  Y38573104                            
Meeting Date: JUN 11, 2004   Meeting Type: Annual                               
Record Date:  APR 12, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Receive Report on 2003 Business Operation None      None       Management 
Results                                                             
1.2   Receive Supervisors' Report               None      None       Management 
1.3   Receive Report on Endorsements and        None      None       Management 
Guarantees, Capital Funding, and Assets                             
Acquisitions                                                        
1.4   Receive Report on the Issuance of         None      None       Management 
Unsecured Corporate Bonds                                           
1.5   Receive Report on Overseas Convetible     None      None       Management 
Bonds                                                               
1.6   Receive Report on Indirect Investments in None      None       Management 
Mainland China                                                      
1.7   Receive Report on Internal Control        None      None       Management 
2.1   Approve Allocation of Income and          For       For        Management 
Dividends                                                           
2.2   Approve Capitalization of 2003 Dividends  For       For        Management 
2.3   Amend Articles of Association             For       Against    Management 
2.4   Amend Operating Procedures for the Loan   For       Against    Management 
of Funds to Other  Parties                                          
2.5   Amend Endorsement and Guarantee Operating For       Against    Management 
Guidelines                                                          
3     Other Business                            None      None       Management 

--------------------------------------------------------------------------------

INCO LTD.                                                                       

Ticker:       N.             Security ID:  453258402                            
Meeting Date: APR 21, 2004   Meeting Type: Annual/Special                       
Record Date:  MAR 16, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Amend Bylaws Re:Declassify the Board      For       For        Management 
2.1   Elect  Directors Ronald C. Cambre         For       For        Management 
2.2   Elect  Directors Scott M. Hand            For       For        Management 
2.3   Elect  Directors Chaviva M. Hosek         For       For        Management 
2.4   Elect  Directors David P. O'Brien         For       For        Management 
2.5   Elect  Directors Glen A. Barton           For       For        Management 
2.6   Elect  Directors Angus A. Bruneau         For       For        Management 
2.7   Elect  Directors Peter C. Jones           For       For        Management 
2.8   Elect  Directors John T. Mayberry         For       For        Management 
2.9   Elect  Directors Roger Phillips           For       For        Management 
2.10  Elect  Directors James M. Stanford        For       For        Management 
3     Approve Auditors and Authorize Board to   For       For        Management 
Fix Remuneration of Auditors                                        
4     Other Business (Voting)                   For       Against    Management 

--------------------------------------------------------------------------------

INTERFLEX CO LTD                                                                

Ticker:                      Security ID:  Y41013106                            
Meeting Date: MAR 19, 2004   Meeting Type: Annual                               
Record Date:  DEC 31, 2003                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Appropriation of Income and       For       For        Management 
Dividends of KRW 125 Per Share                                      
2     Amend Articles of Incorporation to        For       For        Management 
Decrease Maximum Potential Dilution from                            
Stock Option Grants, Shorten Time Before                            
Convertible Bonds May Be Converted into                             
Shares, Increase Minimum Board Size from                            
2 to 3 and Require Outside Directors                                
3     Elect Directors                           For       For        Management 
4     Appoint Auditor                           For       Against    Management 
5     Approve Limit on Remuneration of          For       For        Management 
Directors                                                           
6     Approve Limit on Remuneration of Auditors For       For        Management 
7     Establish Terms for Severance Payments to For       For        Management 
Executives                                                          

--------------------------------------------------------------------------------

INTERNATIONAL PAPER CO.                                                         

Ticker:       IP             Security ID:  460146103                            
Meeting Date: MAY 11, 2004   Meeting Type: Annual                               
Record Date:  MAR 17, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Martha F. Brooks          For       For        Management 
1.2   Elect  Director James A. Henderson        For       For        Management 
1.3   Elect  Director Robert D. Kennedy         For       For        Management 
1.4   Elect  Director W. Craig McClelland       For       For        Management 
1.5   Elect  Director Robert M. Amen            For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Amend Omnibus Stock Plan                  For       For        Management 
4     Amend Omnibus Stock Plan                  For       For        Management 
5     Limit Executive Compensation              Against   Against    Shareholder

--------------------------------------------------------------------------------

ITO-YOKADO CO. LTD.                                                             

Ticker:       ITOYO          Security ID:  J25209115                            
Meeting Date: MAY 27, 2004   Meeting Type: Annual                               
Record Date:  FEB 29, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 16,                             
Final JY 18, Special JY 0                                           
2     Amend Articles to: Change Location of     For       For        Management 
Head Office - Authorize Share Repurchases                           
at Board's Discretion - Limit Directors'                            
and Internal Auditors' Legal Liability                              
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
3.4   Elect Director                            For       For        Management 
3.5   Elect Director                            For       For        Management 
3.6   Elect Director                            For       For        Management 
3.7   Elect Director                            For       For        Management 
3.8   Elect Director                            For       For        Management 
3.9   Elect Director                            For       For        Management 
3.10  Elect Director                            For       For        Management 
3.11  Elect Director                            For       For        Management 
3.12  Elect Director                            For       For        Management 
3.13  Elect Director                            For       For        Management 
3.14  Elect Director                            For       For        Management 
3.15  Elect Director                            For       For        Management 
3.16  Elect Director                            For       For        Management 
3.17  Elect Director                            For       For        Management 
4     Appoint Internal Statutory Auditor        For       For        Management 
5     Approve Retirement Bonuses for Directors  For       For        Management 
and Statutory Auditor                                               

--------------------------------------------------------------------------------

JGC CORP.                                                                       

Ticker:                      Security ID:  J26945105                            
Meeting Date: JUN 29, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 0,                              
Final JY 8, Special JY 0                                            
2     Amend Articles to: Reduce Board Size -    For       Against    Management 
Authorize Share Repurchases at Board's                              
Discretion - Create Board of Executive                              
Officers                                                            
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
3.4   Elect Director                            For       For        Management 
3.5   Elect Director                            For       For        Management 
3.6   Elect Director                            For       For        Management 
3.7   Elect Director                            For       For        Management 
3.8   Elect Director                            For       For        Management 
3.9   Elect Director                            For       For        Management 
3.10  Elect Director                            For       For        Management 
3.11  Elect Director                            For       For        Management 
3.12  Elect Director                            For       For        Management 
4.1   Appoint Internal Statutory Auditor        For       For        Management 
4.2   Appoint Internal Statutory Auditor        For       For        Management 
4.3   Appoint Internal Statutory Auditor        For       For        Management 
4.4   Appoint Internal Statutory Auditor        For       For        Management 
5     Approve Retirement Bonuses for Directors  For       Against    Management 
and Statutory Auditors                                              
6     Approve Payments to Continuing Directors  For       Against    Management 
and Statutory Auditors in Connection with                           
Abolition of Retirement Bonus System                                

--------------------------------------------------------------------------------

JOHNSON & JOHNSON                                                               

Ticker:       JNJ            Security ID:  478160104                            
Meeting Date: APR 22, 2004   Meeting Type: Annual                               
Record Date:  FEB 24, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Gerard N. Burrow          For       For        Management 
1.2   Elect  Director Mary S. Coleman           For       For        Management 
1.3   Elect  Director James G. Cullen           For       For        Management 
1.4   Elect  Director Robert J. Darretta        For       For        Management 
1.5   Elect  Director M. Judah Folkman          For       For        Management 
1.6   Elect  Director Ann D. Jordan             For       For        Management 
1.7   Elect  Director Arnold G. Langbo          For       For        Management 
1.8   Elect  Director Susan L. Lindquist        For       For        Management 
1.9   Elect  Director Leo F. Mullin             For       For        Management 
1.10  Elect  Director Steven S Reinemund        For       For        Management 
1.11  Elect  Director David Satcher             For       For        Management 
1.12  Elect  Director Henry B. Schacht          For       For        Management 
1.13  Elect  Director William C. Weldon         For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Cease Charitable Contributions            Against   Against    Shareholder

--------------------------------------------------------------------------------

JONES APPAREL GROUP, INC.                                                       

Ticker:       JNY            Security ID:  480074103                            
Meeting Date: MAY 19, 2004   Meeting Type: Annual                               
Record Date:  MAR 19, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Peter Boneparth           For       For        Management 
1.2   Elect  Director Sidney Kimmel             For       For        Management 
1.3   Elect  Director Geraldine Stutz           For       For        Management 
1.4   Elect  Director Howard Gittis             For       For        Management 
1.5   Elect  Director Anthony F. Scarpa         For       For        Management 
1.6   Elect  Director Matthew H. Kamens         For       For        Management 
1.7   Elect  Director Michael L. Tarnopol       For       For        Management 
1.8   Elect  Director J. Robert Kerrey          For       For        Management 
1.9   Elect  Director Ann N. Reese              For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Amend Omnibus Stock Plan                  For       For        Management 

--------------------------------------------------------------------------------

KAWASAKI KISEN KAISHA LTD                                                       

Ticker:                      Security ID:  J31588114                            
Meeting Date: JUN 29, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 5,                              
Final JY 5, Special JY 0                                            
2     Amend Articles to: Authorize Share        For       For        Management 
Repurchases at Board's Discretion                                   
3     Approve Executive Stock Option Plan       For       For        Management 
4.1   Elect Director                            For       For        Management 
4.2   Elect Director                            For       For        Management 
4.3   Elect Director                            For       For        Management 
4.4   Elect Director                            For       For        Management 
4.5   Elect Director                            For       For        Management 
4.6   Elect Director                            For       For        Management 
4.7   Elect Director                            For       For        Management 
4.8   Elect Director                            For       For        Management 
4.9   Elect Director                            For       For        Management 
4.10  Elect Director                            For       For        Management 
4.11  Elect Director                            For       For        Management 
5.1   Appoint Internal Statutory Auditor        For       Against    Management 
5.2   Appoint Internal Statutory Auditor        For       For        Management 
6     Approve Retirement Bonuses for Statutory  For       Against    Management 
Auditors                                                            

--------------------------------------------------------------------------------

KENSINGTON GROUP PLC                                                            

Ticker:                      Security ID:  G5235J107                            
Meeting Date: MAR 30, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2     Approve Final Dividend of 7 Pence Per     For       For        Management 
Ordinary Share                                                      
3     Re-elect Martin Finegold as Director  as  For       For        Management 
Director                                                            
4     Re-elect Gareth Jones as Director         For       For        Management 
5     Elect John Herring as Director            For       For        Management 
6     Approve Deloitte And Touche LLP as        For       For        Management 
Auditors and Authorise Board to Fix Their                           
Remuneration                                                        
7     Approve Remuneration Report               For       For        Management 
8     Approve Kensington Group Performance      For       For        Management 
Share Plan 2004                                                     
9     Authorise 5,000,000 Shares for Market     For       For        Management 
Repurchase                                                          
10    Amend Articles of Association Re:         For       For        Management 
Treasury Shares, Retirement by Rotation,                            
and Requirement for the Calling of a Poll                           

--------------------------------------------------------------------------------

KIMBERLY-CLARK CORP.                                                            

Ticker:       KMB            Security ID:  494368103                            
Meeting Date: APR 29, 2004   Meeting Type: Annual                               
Record Date:  MAR 1, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Pastora San Juan Cafferty For       Withhold   Management 
1.2   Elect  Director Claudio X. Gonzalez       For       Withhold   Management 
1.3   Elect  Director Linda Johnson Rice        For       Withhold   Management 
1.4   Elect  Director Marc J. Shapiro           For       Withhold   Management 
2     Amend Omnibus Stock Plan                  For       For        Management 
3     Ratify Auditors                           For       For        Management 
4     Submit Shareholder Rights Plan (Poison    Against   For        Shareholder
Pill) to Shareholder Vote                                           

--------------------------------------------------------------------------------

KOHL'S CORP.                                                                    

Ticker:       KSS            Security ID:  500255104                            
Meeting Date: APR 28, 2004   Meeting Type: Annual                               
Record Date:  MAR 3, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Wayne Embry               For       For        Management 
1.2   Elect  Director John F. Herma             For       For        Management 
1.3   Elect  Director R. Lawrence Montgomery    For       For        Management 
1.4   Elect  Director Frank V. Sica             For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Performance-Based Stock/Indexed Options   Against   Against    Shareholder
4     Separate Chairman and CEO Positions       Against   Against    Shareholder

--------------------------------------------------------------------------------

KOOKMIN BANK                                                                    

Ticker:       KKBKY          Security ID:  Y4822W100                            
Meeting Date: MAR 23, 2004   Meeting Type: Annual                               
Record Date:  DEC 31, 2003                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Non-Consolidated Financial        For       For        Management 
Statements and Disposition of Deficit,                              
with No Dividends                                                   
2     Amend Articles of Incorporation           For       For        Management 
3     Elect Directors                           For       For        Management 
4     Elect Members of Audit Committee          For       For        Management 
5     Approve Stock Option Grants               For       For        Management 

--------------------------------------------------------------------------------

KOREA ELECTRIC POWER CORP                                                       

Ticker:       KEP.P          Security ID:  Y48406105                            
Meeting Date: MAR 19, 2004   Meeting Type: Annual                               
Record Date:  DEC 31, 2003                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Appropriation of Income and       For       For        Management 
Dividends of KRW 1050 Per Share                                     
2     Elect Han Joon-Ho as New President        For       For        Management 

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KOREAN REINSURANCE                                                              

Ticker:                      Security ID:  Y49391108                            
Meeting Date: JUN 15, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Financial Statements              For       For        Management 
2     Amend Articles of Incorporation           For       For        Management 
3     Elect Director                            For       For        Management 
4     Approve Limit on Remuneration of          For       For        Management 
Directors                                                           

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KUBOTA CORP.                                                                    

Ticker:       KUB            Security ID:  J36662138                            
Meeting Date: JUN 25, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 3,                              
Final JY 3, Special JY 0                                            
2     Amend Articles to: Authorize Share        For       For        Management 
Repurchases at Board's Discretion                                   
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
3.4   Elect Director                            For       For        Management 
3.5   Elect Director                            For       For        Management 
3.6   Elect Director                            For       For        Management 
3.7   Elect Director                            For       For        Management 
3.8   Elect Director                            For       For        Management 
3.9   Elect Director                            For       For        Management 
3.10  Elect Director                            For       For        Management 
3.11  Elect Director                            For       For        Management 
3.12  Elect Director                            For       For        Management 
3.13  Elect Director                            For       For        Management 
3.14  Elect Director                            For       For        Management 
3.15  Elect Director                            For       For        Management 
3.16  Elect Director                            For       For        Management 
3.17  Elect Director                            For       For        Management 
3.18  Elect Director                            For       For        Management 
3.19  Elect Director                            For       For        Management 
3.20  Elect Director                            For       For        Management 
4     Appoint Internal Statutory Auditor        For       Against    Management 
5     Approve Retirement Bonuses for Directors  For       For        Management 

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LATTICE SEMICONDUCTOR CORP.                                                     

Ticker:       LSCC           Security ID:  518415104                            
Meeting Date: MAY 11, 2004   Meeting Type: Annual                               
Record Date:  MAR 18, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Mark O. Hatfield          For       For        Management 
1.2   Elect  Director Cyrus Y. Tsui             For       For        Management 
2     Amend Employee Stock Purchase Plan        For       For        Management 
3     Ratify Auditors                           For       For        Management 

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LEGAL & GENERAL GROUP PLC                                                       

Ticker:                      Security ID:  G54404127                            
Meeting Date: APR 28, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2     Approve Final Dividend of 3.33 Pence Per  For       For        Management 
Ordinary Share                                                      
3     Re-elect Kate Avery as Director           For       For        Management 
4     Re-elect Barrie Morgans as Director       For       For        Management 
5     Elect John Pollock as Director            For       For        Management 
6     Re-elect David Prosser as Director        For       For        Management 
7     Re-elect Ronaldo Schmitz as Director      For       For        Management 
8     Elect James Strachan as Director          For       For        Management 
9     Reappoint PricewaterhouseCoopers LLP as   For       For        Management 
Auditors of the Company                                             
10    Authorise Board to Fix Remuneration of    For       For        Management 
the Auditors                                                        
11    Approve Remuneration Report               For       For        Management 
12    Authorise Issuance of Equity or           For       For        Management 
Equity-Linked Securities with Pre-emptive                           
Rights up to Aggregate Nominal Amount of                            
GBP 8,129,827                                                       
13    Authorise Issuance of Equity or           For       For        Management 
Equity-Linked Securities without                                    
Pre-emptive Rights up to Aggregate                                  
Nominal Amount of GBP 8,129,827                                     
14    Authorise 325,193,096 Ordinary Shares for For       For        Management 
Market Purchase                                                     
15    Amend Articles of Association Re:         For       For        Management 
Authorised Share Capital                                            
16    Approve Increase in Remuneration of       For       For        Management 
Non-Executive Directors from GBP 750,000                            
to GBP 1,000,000                                                    
17    Amend Articles of Association Re:         For       For        Management 
Retirement of Directors by Rotation                                 
18    Approve Legal and General Group Plc Share For       For        Management 
Bonus Plan 2004                                                     
19    Approve Legal and General Group Plc       For       For        Management 
Performance Share Plan 2004                                         

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LEHMAN BROTHERS HOLDINGS INC.                                                   

Ticker:       LEH            Security ID:  524908100                            
Meeting Date: APR 2, 2004    Meeting Type: Annual                               
Record Date:  FEB 13, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Roger S. Berlind          For       For        Management 
1.2   Elect  Director Marsha Johnson Evans      For       For        Management 
1.3   Elect  Director Sir Christopher Gent      For       For        Management 
1.4   Elect  Director Dina Merrill              For       For        Management 
2     Ratify Auditors                           For       For        Management 

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LIBERTY MEDIA CORP.                                                             

Ticker:       L              Security ID:  530718105                            
Meeting Date: JUN 9, 2004    Meeting Type: Annual                               
Record Date:  APR 21, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Robert R. Bennett         For       For        Management 
1.2   Elect  Director Paul A. Gould             For       For        Management 
1.3   Elect  Director John C. Malone            For       For        Management 
2     Amend Executive Incentive Bonus Plan      For       For        Management 
3     Ratify Auditors                           For       For        Management 

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LIZ CLAIBORNE, INC.                                                             

Ticker:       LIZ            Security ID:  539320101                            
Meeting Date: MAY 20, 2004   Meeting Type: Annual                               
Record Date:  MAR 22, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Raul J. Fernandez         For       For        Management 
1.2   Elect  Director Mary Kay Haben            For       For        Management 
1.3   Elect  Director Kenneth P. Kopelman       For       For        Management 
1.4   Elect  Director Arthur C. Martinez        For       For        Management 
2     Ratify Auditors                           For       For        Management 

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LLOYDS TSB GROUP PLC (FORMERLY TSB GROUP)                                       

Ticker:                      Security ID:  G5542W106                            
Meeting Date: MAY 21, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2     Approve Remuneration Report               For       For        Management 
3a    Elect Peter Ayliffe as Director           For       For        Management 
3b    Elect Wolfgang Berndt as Director         For       For        Management 
3c    Elect Angela Knight as Director           For       For        Management 
3d    Elect Helen Weir as Director              For       For        Management 
4a    Re-elect Ewan Brown as Director           For       For        Management 
4b    Re-elect Eric Daniels as Director         For       For        Management 
4c    Re-elect David Pritchard as Director      For       For        Management 
4d    Re-elect Maarten van den Bergh as         For       For        Management 
Director                                                            
5     Re-appoint PricewaterhouseCoopers LLP as  For       For        Management 
Auditors of the Company                                             
6     Authorise Board to Fix Remuneration of    For       For        Management 
the Auditors                                                        
7     Authorise Issuance of Equity or           For       For        Management 
Equity-Linked Securities with Pre-emptive                           
Rights up to Aggregate Nominal Amount of                            
GBP 334,068,329; USD 40,000,000; EUR                                
40,000,000 and JPY 1,250,000,000                                    
8     Authorise Issuance of Equity or           For       For        Management 
Equity-Linked Securities without                                    
Pre-emptive Rights up to Aggregate                                  
Nominal Amount of GBP 70,913,582                                    
9     Authorise 567 Million Ordinary Shares for For       For        Management 
Market Purchase                                                     
10    Adopt New Articles of Association         For       For        Management 
11    Approve Lloyds TSB Performance Share Plan For       For        Management 
and Amend Lloyds TSB Group No 2 Executive                           
Share Options Scheme 1997                                           

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MAXTOR CORP.                                                                    

Ticker:       MXO            Security ID:  577729205                            
Meeting Date: MAY 20, 2004   Meeting Type: Annual                               
Record Date:  MAR 30, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Paul J. Tufano            For       For        Management 
1.2   Elect  Director Charles M. Boesenberg     For       For        Management 
1.3   Elect  Director Michael R. Cannon         For       For        Management 
2     Ratify Auditors                           For       For        Management 

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MBNA CORP.                                                                      

Ticker:       KRB            Security ID:  55262L100                            
Meeting Date: MAY 3, 2004    Meeting Type: Annual                               
Record Date:  FEB 13, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director James H. Berick           For       For        Management 
1.2   Elect  Director Benjamin R. Civiletti     For       For        Management 
1.3   Elect  Director Bruce L. Hammonds         For       For        Management 
1.4   Elect  Director William L. Jews           For       For        Management 
1.5   Elect  Director Randolph D. Lerner        For       For        Management 
1.6   Elect  Director Stuart L. Markowitz       For       For        Management 
1.7   Elect  Director William B. Milstead       For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Expense Stock Options                     Against   For        Shareholder
4     Require Majority of Independent Directors Against   For        Shareholder
on Board                                                            

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MGIC INVESTMENT CORP.                                                           

Ticker:       MTG            Security ID:  552848103                            
Meeting Date: MAY 13, 2004   Meeting Type: Annual                               
Record Date:  MAR 15, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director James A. Abbott           For       For        Management 
1.2   Elect  Director Thomas M. Hagerty         For       For        Management 
1.3   Elect  Director Michael E. Lehman         For       For        Management 
2     Ratify Auditors                           For       For        Management 

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MILLEA HOLDINGS INC.                                                            

Ticker:                      Security ID:  J4276P103                            
Meeting Date: JUN 29, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 0,                              
Final JY 11,000, Special JY 0                                       
2     Amend Articles to: Authorize Share        For       For        Management 
Repurchases at Board's Discretion                                   
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
3.4   Elect Director                            For       For        Management 
3.5   Elect Director                            For       For        Management 
3.6   Elect Director                            For       For        Management 
3.7   Elect Director                            For       For        Management 
3.8   Elect Director                            For       For        Management 
3.9   Elect Director                            For       For        Management 
3.10  Elect Director                            For       For        Management 
3.11  Elect Director                            For       For        Management 
3.12  Elect Director                            For       For        Management 
3.13  Elect Director                            For       For        Management 
4.1   Appoint Internal Statutory Auditor        For       For        Management 
4.2   Appoint Internal Statutory Auditor        For       For        Management 
5     Approve Retirement Bonuses for Director   For       For        Management 
and Statutory Auditor                                               

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MITSUBISHI CORP.                                                                

Ticker:                      Security ID:  J43830116                            
Meeting Date: JUN 24, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 4,                              
Final JY 6, Special JY 2                                            
2     Amend Articles to: Reduce Directors' Term For       For        Management 
in Office - Authorize Share Repurchases                             
at Board's Discretion                                               
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
3.4   Elect Director                            For       For        Management 
3.5   Elect Director                            For       For        Management 
3.6   Elect Director                            For       For        Management 
3.7   Elect Director                            For       For        Management 
4.1   Appoint Internal Statutory Auditor        For       For        Management 
4.2   Appoint Internal Statutory Auditor        For       Against    Management 
4.3   Appoint Internal Statutory Auditor        For       Against    Management 
4.4   Appoint Internal Statutory Auditor        For       For        Management 
5     Approve Executive Stock Option Plan       For       For        Management 
6     Approve Retirement Bonuses for Directors  For       Against    Management 
and Statutory Auditors                                              

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MITSUI SUMITOMO INSURANCE CO. LTD                                               

Ticker:                      Security ID:  J45174109                            
Meeting Date: JUN 29, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 0,                              
Final JY 8.5, Special JY 0                                          
2     Amend Articles to: Authorize Share        For       Against    Management 
Repurchases at Board's Discretion                                   
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
3.4   Elect Director                            For       For        Management 
3.5   Elect Director                            For       For        Management 
3.6   Elect Director                            For       For        Management 
3.7   Elect Director                            For       For        Management 
3.8   Elect Director                            For       For        Management 
3.9   Elect Director                            For       For        Management 
3.10  Elect Director                            For       For        Management 
3.11  Elect Director                            For       For        Management 
3.12  Elect Director                            For       For        Management 
4.1   Appoint Internal Statutory Auditor        For       For        Management 
4.2   Appoint Internal Statutory Auditor        For       For        Management 
4.3   Appoint Internal Statutory Auditor        For       For        Management 
5     Approve Retirement Bonuses for Directors  For       Against    Management 
and Statutory Auditors                                              

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MOTOROLA, INC.                                                                  

Ticker:       MOT            Security ID:  620076109                            
Meeting Date: MAY 3, 2004    Meeting Type: Annual                               
Record Date:  MAR 5, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Edward Zander             For       For        Management 
1.2   Elect  Director H. Laurence Fuller        For       For        Management 
1.3   Elect  Director Judy Lewent               For       For        Management 
1.4   Elect  Director Walter Massey             For       For        Management 
1.5   Elect  Director Nicholas Negroponte       For       For        Management 
1.6   Elect  Director Indra Nooyi               For       For        Management 
1.7   Elect  Director John Pepper, Jr.          For       For        Management 
1.8   Elect  Director Samuel Scott III          For       For        Management 
1.9   Elect  Director Douglas Warner III        For       For        Management 
1.10  Elect  Director John White                For       For        Management 
1.11  Elect  Director Mike Zafirovski           For       For        Management 
2     Limit Executive Compensation              Against   Against    Shareholder
3     Limit Awards to Executives                Against   Against    Shareholder

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MURATA MANUFACTURING CO. LTD.                                                   

Ticker:                      Security ID:  J46840104                            
Meeting Date: JUN 29, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 25,                             
Final JY 25, Special JY 0                                           
2     Amend Articles to: Decrease Authorized    For       Against    Management 
Capital to Reflect Share Repurchase from                            
600 Million to 590 Million Shares -                                 
Authorize Share Repurchases at Board's                              
Discretion                                                          
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
4.1   Appoint Internal Statutory Auditor        For       For        Management 
4.2   Appoint Internal Statutory Auditor        For       For        Management 
5     Approve Special Payments to Continuing    For       Against    Management 
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        Management 

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NATIONAL-OILWELL, INC.                                                          

Ticker:       NOI            Security ID:  637071101                            
Meeting Date: MAY 19, 2004   Meeting Type: Annual                               
Record Date:  MAR 22, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Roger L. Jarvis           For       For        Management 
1.2   Elect  Director Merrill A. Miller, Jr.    For       For        Management 
1.3   Elect  Director Frederick W. Pheasey      For       For        Management 

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NEXTEL COMMUNICATIONS, INC.                                                     

Ticker:       NXTL           Security ID:  65332V103                            
Meeting Date: MAY 27, 2004   Meeting Type: Annual                               
Record Date:  APR 2, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Keith J. Bane             For       For        Management 
1.2   Elect  Director V. Janet Hill             For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Amend Employee Stock Purchase Plan        For       For        Management 

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NIKON CORP.                                                                     

Ticker:                      Security ID:  654111103                            
Meeting Date: JUN 29, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 0,                              
Final JY 4, Special JY 0                                            
2     Amend Articles to: Authorize Share        For       For        Management 
Repurchases at Board's Discretion                                   
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
3.4   Elect Director                            For       For        Management 
3.5   Elect Director                            For       For        Management 
3.6   Elect Director                            For       For        Management 
3.7   Elect Director                            For       For        Management 
3.8   Elect Director                            For       For        Management 
3.9   Elect Director                            For       For        Management 
3.10  Elect Director                            For       For        Management 
3.11  Elect Director                            For       For        Management 
3.12  Elect Director                            For       For        Management 
3.13  Elect Director                            For       For        Management 
3.14  Elect Director                            For       For        Management 
4.1   Appoint Internal Statutory Auditor        For       For        Management 
4.2   Appoint Internal Statutory Auditor        For       For        Management 
4.3   Appoint Internal Statutory Auditor        For       For        Management 
5     Approve Retirement Bonuses for Statutory  For       Against    Management 
Auditors                                                            
6     Approve Executive Stock Option Plan       For       For        Management 

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NIPPON YUSEN K.K.                                                               

Ticker:                      Security ID:  J56515133                            
Meeting Date: JUN 29, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 5,                              
Final JY 5, Special JY 0                                            
2     Amend Articles to: Authorize Appointment  For       For        Management 
of Alternate Statutory Auditors -                                   
Authorize Share Repurchases at Board's                              
Discretion                                                          
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
3.4   Elect Director                            For       For        Management 
3.5   Elect Director                            For       For        Management 
3.6   Elect Director                            For       For        Management 
3.7   Elect Director                            For       For        Management 
3.8   Elect Director                            For       For        Management 
3.9   Elect Director                            For       For        Management 
3.10  Elect Director                            For       For        Management 
3.11  Elect Director                            For       For        Management 
3.12  Elect Director                            For       For        Management 
4     Approve Retirement Bonuses for Directors  For       For        Management 

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NOBLE CORP                                                                      

Ticker:       NE             Security ID:  G65422100                            
Meeting Date: APR 22, 2004   Meeting Type: Annual                               
Record Date:  MAR 4, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Michael A. Cawley         For       For        Management 
1.2   Elect  Director Luke R. Corbett           For       For        Management 
1.3   Elect  Director Jack E. Little            For       For        Management 
2     Ratify Auditors                           For       For        Management 

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NOKIA CORP.                                                                     

Ticker:       NKCAF          Security ID:  654902204                            
Meeting Date: MAR 25, 2004   Meeting Type: Annual                               
Record Date:  JAN 30, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     APPROVAL OF THE INCOME STATEMENTS AND THE For       For        Management 
BALANCE SHEETS.                                                     
2     APPROVAL OF A DIVIDEND OF EUR 0.30 PER    For       For        Management 
SHARE.                                                              
3     APPROVAL OF THE DISCHARGE OF THE          For       For        Management 
CHAIRMAN, THE MEMBERS OF THE BOARD OF                               
DIRECTORS AND THE PRESIDENT FROM                                    
LIABILITY.                                                          
4.1   Elect  Director Paul J. Collins           For       For        Management 
4.2   Elect  Director Georg Ehrnrooth           For       For        Management 
4.3   Elect  Director Bengt Holmstrom           For       For        Management 
4.4   Elect  Director Per Karlsson              For       For        Management 
4.5   Elect  Director Jorma Ollila              For       For        Management 
4.6   Elect  Director Marjorie Scardino         For       For        Management 
4.7   Elect  Director Vesa Vainio               For       For        Management 
4.8   Elect  Director Arne Wessberg             For       For        Management 
5     Ratify Auditors                           For       For        Management 
6     APPROVAL OF THE PROPOSAL OF THE BOARD TO  For       For        Management 
REDUCE THE SHARE CAPITAL THROUGH                                    
CANCELLATION OF NOKIA SHARES HELD BY THE                            
COMPANY                                                             
7     APPROVAL OF THE AUTHORIZATION TO THE      For       For        Management 
BOARD TO INCREASE THE SHARE CAPITAL OF                              
THE COMPANY.                                                        
8     APPROVAL OF THE AUTHORIZATION TO THE      For       For        Management 
BOARD TO REPURCHASE NOKIA SHARES.                                   
9     APPROVAL OF THE AUTHORIZATION TO THE      For       For        Management 
BOARD TO DISPOSE NOKIA SHARES HELD BY THE                           
COMPANY.                                                            
10    APPROVAL OF THE PROPOSAL OF THE BOARD TO  For       For        Management 
INCREASE THE CAPITAL OF THE FOUNDATION OF                           
NOKIA CORPORATION.                                                  
11    MARK THE  FOR  BOX IF YOU WISH TO         None      Against    Management 
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                                                

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NOMURA HOLDINGS INC.                                                            

Ticker:       NSLJ10         Security ID:  J59009159                            
Meeting Date: JUN 25, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Amend Articles to: Authorize Share        For       For        Management 
Repurchases at Board's Discretion                                   
2     Approve Executive Stock Option Plan and   For       For        Management 
Deep-Discount Stock Option Plan                                     
3.1   Elect Director                            For       For        Management 
3.2   Elect Director                            For       For        Management 
3.3   Elect Director                            For       For        Management 
3.4   Elect Director                            For       For        Management 
3.5   Elect Director                            For       For        Management 
3.6   Elect Director                            For       For        Management 
3.7   Elect Director                            For       For        Management 
3.8   Elect Director                            For       For        Management 
3.9   Elect Director                            For       For        Management 
3.10  Elect Director                            For       For        Management 
3.11  Elect Director                            For       For        Management 

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NORTHERN ROCK PLC                                                               

Ticker:                      Security ID:  G6640T102                            
Meeting Date: APR 27, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2     Approve Final Dividend of 15.8 Pence Per  For       For        Management 
Ordinary Share                                                      
3     Re-elect Adam Applegarth as Director      For       For        Management 
4     Re-elect Nichola Pease as Director        For       For        Management 
5     Elect Adam Fenwick as Director            For       For        Management 
6     Reappoint PricewaterhouseCoopers LLP as   For       For        Management 
Auditors of the Company                                             
7     Authorise Board to Fix Remuneration of    For       For        Management 
the Auditors                                                        
8     Approve Remuneration Report               For       For        Management 
9     Authorise 42,122,600 Ordinary Shares for  For       For        Management 
Market Purchase                                                     
10    Approve the Contingent Share Purchase     For       For        Management 
Contract between the Company and the                                
Northern Rock Foundation                                            

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ORIENT OVERSEAS INTERNATIONAL LTD.                                              

Ticker:                      Security ID:  G67749104                            
Meeting Date: APR 27, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2     Approve Final Dividend of HK$1.0 Per      For       For        Management 
Share                                                               
3     Approve Issuance of Bonus Shares          For       For        Management 
4     Reelect Directors and Authorize Board to  For       For        Management 
Fix Their Remuneration                                              
5     Reappoint PricewaterhouseCoopers as       For       For        Management 
Auditors and Authorize Board to Fix Their                           
Remuneration                                                        
6a    Approve Issuance of Equity or             For       Against    Management 
Equity-Linked Securities without                                    
Preemptive Rights                                                   
6b    Approve Repurchase of Up to 10 Percent of For       For        Management 
Issued Capital                                                      
6c    Authorize Reissuance of Repurchased       For       For        Management 
Shares                                                              
7     Amend Bylaws Re: Voting at General        For       For        Management 
Meetings, Nomination of Directors,                                  
Material Interest of Directors in                                   
Contracts Entered into by the Company,                              
Electronic Communication                                            

--------------------------------------------------------------------------------

ORIENTAL FIRE & MARINE INSURANCE                                                

Ticker:                      Security ID:  Y6500L108                            
Meeting Date: JUN 15, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Financial Statements and          For       For        Management 
Disposition of Retained Earnings                                    
2.1   Elect Director                            For       For        Management 
2.2   Elect Director to Serve on Audit          For       For        Management 
Committee                                                           
2.3   Elect External Director                   For       For        Management 
3     Elect External Director to Serve on Audit For       For        Management 
Committee                                                           
4     Approve Limit on Remuneration of          For       Against    Management 
Directors                                                           

--------------------------------------------------------------------------------

PEABODY ENERGY CORP.                                                            

Ticker:       BTU            Security ID:  704549104                            
Meeting Date: MAY 6, 2004    Meeting Type: Annual                               
Record Date:  MAR 15, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director William A. Coley          For       For        Management 
1.2   Elect  Director Irl F. Engelhardt         For       For        Management 
1.3   Elect  Director William C. Rusnack        For       For        Management 
1.4   Elect  Director Alan H. Washkowitz        For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Approve Omnibus Stock Plan                For       For        Management 
4     Require Majority of Independent Directors Against   Against    Shareholder
on Board                                                            

--------------------------------------------------------------------------------

PEOPLESOFT, INC.                                                                

Ticker:       PSFT           Security ID:  712713106                            
Meeting Date: MAR 25, 2004   Meeting Type: Annual                               
Record Date:  FEB 10, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director A. George 'Skip' Battle   For       For        Management 
1.2   Elect  Director Craig A. Conway           For       For        Management 
1.3   Elect  Director Frank J. Fanzilli, Jr.    For       For        Management 
1.4   Elect  Director Cyril J. Yansouni         For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Expense Stock Options                     Against   For        Shareholder

--------------------------------------------------------------------------------

PFIZER INC.                                                                     

Ticker:       PFE            Security ID:  717081103                            
Meeting Date: APR 22, 2004   Meeting Type: Annual                               
Record Date:  FEB 27, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Michael S. Brown          For       For        Management 
1.2   Elect  Director M. Anthony Burns          For       For        Management 
1.3   Elect  Director Robert N. Burt            For       For        Management 
1.4   Elect  Director W. Don Cornwell           For       For        Management 
1.5   Elect  Director William H. Gray III       For       For        Management 
1.6   Elect  Director Constance J. Horner       For       For        Management 
1.7   Elect  Director William R. Howell         For       For        Management 
1.8   Elect  Director Stanley O. Ikenberry      For       For        Management 
1.9   Elect  Director George A. Lorch           For       For        Management 
1.10  Elect  Director Henry A. Mckinnell        For       For        Management 
1.11  Elect  Director Dana G. Mead              For       For        Management 
1.12  Elect  Director Franklin D. Raines        For       For        Management 
1.13  Elect  Director Ruth J. Simmons           For       For        Management 
1.14  Elect  Director William C. Steere, Jr.    For       For        Management 
1.15  Elect  Director Jean-Paul Valles          For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Approve Omnibus Stock Plan                For       For        Management 
4     Report on Operational Impact of HIV/AIDS, Against   Against    Shareholder
TB, and Malaria Pandemic                                            
5     Cease Political Contributions/Activities  Against   Against    Shareholder
6     Report on Political                       Against   Against    Shareholder
Contributions/Activities                                            
7     Establish Term Limits for Directors       Against   Against    Shareholder
8     Report on Drug Pricing                    Against   Against    Shareholder
9     Limit Awards to Executives                Against   Against    Shareholder
10    Amend Animal Testing Policy               Against   Against    Shareholder

--------------------------------------------------------------------------------

PHELPS DODGE CORP.                                                              

Ticker:       PD             Security ID:  717265102                            
Meeting Date: MAY 28, 2004   Meeting Type: Annual                               
Record Date:  APR 8, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Marie L. Knowles          For       For        Management 
1.2   Elect  Director Jon C. Madonna            For       For        Management 
1.3   Elect  Director Gordon R. Parker          For       For        Management 
1.4   Elect  Director Robert D. Johnson         For       For        Management 
2     Cease Charitable Contributions            Against   Against    Shareholder

--------------------------------------------------------------------------------

PIER 1 IMPORTS, INC                                                             

Ticker:       PIR            Security ID:  720279108                            
Meeting Date: JUN 25, 2004   Meeting Type: Annual                               
Record Date:  MAY 5, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Marvin J. Girouard        For       For        Management 
1.2   Elect  Director James M. Hoak, Jr.        For       For        Management 
1.3   Elect  Director Tom M. Thomas             For       For        Management 
1.4   Elect  Director John H. Burgoyne          For       For        Management 
1.5   Elect  Director Michael R. Ferrari        For       For        Management 
1.6   Elect  Director Karen W. Katz             For       For        Management 
1.7   Elect  Director Terry E. London           For       For        Management 
2     Amend Omnibus Stock Plan                  For       For        Management 
3     Amend Employee Stock Purchase Plan        For       For        Management 

--------------------------------------------------------------------------------

PMI GROUP, INC., THE                                                            

Ticker:       PMI            Security ID:  69344M101                            
Meeting Date: MAY 27, 2004   Meeting Type: Annual                               
Record Date:  APR 1, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Mariann Byerwalter        For       For        Management 
1.2   Elect  Director James C. Castle           For       For        Management 
1.3   Elect  Director Carmine Guerro            For       For        Management 
1.4   Elect  Director W. Roger Haughton         For       For        Management 
1.5   Elect  Director Wayne E. Hedien           For       For        Management 
1.6   Elect  Director Louis G. Lower II         For       For        Management 
1.7   Elect  Director Raymond L. Ocampo Jr.     For       For        Management 
1.8   Elect  Director John D. Roach             For       For        Management 
1.9   Elect  Director Kenneth T. Rosen          For       For        Management 
1.10  Elect  Director Steven L. Scheid          For       For        Management 
1.11  Elect  Director L. Stephen Smith          For       For        Management 
1.12  Elect  Director Richard L. Thomas         For       For        Management 
1.13  Elect  Director Mary Lee Widener          For       For        Management 
1.14  Elect  Director Ronald H. Zech            For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Amend Omnibus Stock Plan                  For       For        Management 
4     Approve Deferred Compensation Plan        For       For        Management 
5     Approve Executive Incentive Bonus Plan    For       For        Management 

--------------------------------------------------------------------------------

PRECISION DRILLING CORPORATION                                                  

Ticker:       PD.            Security ID:  74022D100                            
Meeting Date: MAY 11, 2004   Meeting Type: Annual/Special                       
Record Date:  MAR 22, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Elect W.C. Dunn, Robert J.S. Gibson,      For       For        Management 
Murray K. Mullen, Patrick M. Murray, Fred                           
W. Pheasey, Robert L. Phillips, Hank B.                             
Swartout, H.Garth Wiggins as Directors                              
2     Ratify Auditors                           For       For        Management 
3     Approve 2004 Stock Option Plan            For       Against    Management 

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PROVIDENT FINANCIAL PLC                                                         

Ticker:                      Security ID:  G72783155                            
Meeting Date: MAY 5, 2004    Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2     Approve Remuneration Report               For       For        Management 
3     Approve Final Dividend of 19.9 Pence Per  For       For        Management 
Share                                                               
4     Elect Ray Miles as Director               For       For        Management 
5     Elect Graham Pimlott as Director          For       For        Management 
6     Re-elect Chris Johnstone as Director      For       For        Management 
7     Re-elect John Maxwell as Director         For       For        Management 
8     Re-elect David Swann as Director          For       For        Management 
9     Re-elect Charles Gregson as Director      For       For        Management 
10    Re-appoint PricewaterhouseCoopers LLP as  For       For        Management 
Auditors and Authorise Board to Fix                                 
Remuneration of Auditors                                            
11    Authorise 25,480,000 Ordinary Shares for  For       For        Management 
Market Purchase                                                     
12    Authorise Issuance of Equity or           For       For        Management 
Equity-Linked Securities without                                    
Pre-emptive Rights up to Aggregate                                  
Nominal Amount of GBP 1,320,348                                     
13    Authorise EU Political Donations and EU   For       For        Management 
Political Expenditure up to Aggregate                               
Nominal Amount of GBP 50,000                                        
14    Approve Increase in Aggregate             For       For        Management 
Remuneration of Non-Executive Directors                             
from GBP 250,000 to GBP 300,000                                     

--------------------------------------------------------------------------------

PT BANK CENTRAL ASIA TBK                                                        

Ticker:                      Security ID:  Y7123P112                            
Meeting Date: MAY 6, 2004    Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Directors' Report                  For       For        Management 
2     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
3     Approve Allocation of Income              For       For        Management 
4     Elect Directors and Commissioners         For       For        Management 
5     Approve Remuneration of Directors and     For       For        Management 
Commissioners                                                       
6     Approve Siddharta, Siddharta and Widjaja  For       For        Management 
as Auditors and Authorize Board to Fix                              
Their Remuneration                                                  
7     Approve Stock Split                       For       For        Management 
8     Approve Dividends                         For       For        Management 
9     Accept Report of Audit Committee          For       For        Management 

--------------------------------------------------------------------------------

PUSAN BANK                                                                      

Ticker:                      Security ID:  Y0695K108                            
Meeting Date: MAR 26, 2004   Meeting Type: Annual                               
Record Date:  DEC 31, 2003                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Appropriation of Income and       For       For        Management 
Dividends of KRW 270 Per Share                                      
2     Amend Articles of Incorporation Re:       For       For        Management 
Qualifications of Outside Directors and                             
Audit Committee Members, Issuance of                                
Preferred Shares                                                    
3     Elect Directors                           For       For        Management 
4     Elect Members of Audit Committee          For       For        Management 
5     Approve Stock Option Grants               For       For        Management 

--------------------------------------------------------------------------------

QUEST DIAGNOSTICS, INCORPORATED                                                 

Ticker:       DGX            Security ID:  74834L100                            
Meeting Date: MAY 4, 2004    Meeting Type: Annual                               
Record Date:  MAR 8, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director William R. Grant          For       For        Management 
1.2   Elect  Director Surya N. Mohapatra        For       For        Management 
1.3   Elect  Director John C. Baldwin           For       For        Management 
2     Ratify Auditors                           For       For        Management 

--------------------------------------------------------------------------------

RELIANCE INDUSTRIES LTD.                                                        

Ticker:                      Security ID:  Y72596102                            
Meeting Date: JUN 24, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2     Approve Dividends of INR 5.25 Per Share   For       For        Management 
3     Reappoint M.L. Bhakta as Director         For       For        Management 
4     Reappoint D.V. Kapur as Director          For       For        Management 
5     Reappoint M.P. Modi as Director           For       For        Management 
6     Approve Chaturvedi & Shah and Rajendra &  For       For        Management 
Co. as Joint Auditors and Authorize Board                           
to Fix Their Remuneration                                           

--------------------------------------------------------------------------------

ROPER INDUSTRIES, INC.                                                          

Ticker:       ROP            Security ID:  776696106                            
Meeting Date: MAY 26, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Brian D. Jellison         For       For        Management 
1.2   Elect  Director W. Lawrence Banks         For       For        Management 
1.3   Elect  Director David W. Devonshire       For       For        Management 
1.4   Elect  Director John F. Fort III          For       For        Management 
2     Amend Omnibus Stock Plan                  For       For        Management 
3     Other Business                            For       Against    Management 

--------------------------------------------------------------------------------

SAMSUNG SDI CO.                                                                 

Ticker:                      Security ID:  Y74866107                            
Meeting Date: FEB 27, 2004   Meeting Type: Annual                               
Record Date:  DEC 31, 2003                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Appropriation of Income and       For       For        Management 
Dividends of KRW 2500 Per Share                                     
2     Elect Director                            For       For        Management 
3     Approve Limit on Remuneration of          For       For        Management 
Directors                                                           

--------------------------------------------------------------------------------

SBERBANK OF RUSSIA                                                              

Ticker:                      Security ID:  X76318108                            
Meeting Date: JUN 18, 2004   Meeting Type: Annual                               
Record Date:  MAY 1, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Annual Report                     For       For        Management 
2     Approve Financial Statements              For       For        Management 
3     Approve Allocation of Income Including    For       For        Management 
Dividends (8% of Net Income)                                        
4     Amend Charter                             For       For        Management 
5     Ratify Auditors                           For       For        Management 
6.1   Reelect Sergei Ignatiev as Director       For       Withhold   Management 
6.2   Reelect Tatiana Paramonova as Director    For       Withhold   Management 
6.3   Reelect Georgy Luntovsky as Director      For       Withhold   Management 
6.4   Elect Victor Melnikov as Director         For       Withhold   Management 
6.5   Reelect Nadejda Ivanova as Director       For       Withhold   Management 
6.6   Reelect Valery Tkachenko as Director      For       Withhold   Management 
6.7   Reelect Konstantin Shor as Director       For       Withhold   Management 
6.8   Reelect Alexei Uliukaev as Director       For       Withhold   Management 
6.9   Reelect Bella Zlatkis as Director         For       Withhold   Management 
6.10  Reelect Arkady Dvorkovich as Director     For       Withhold   Management 
6.11  Elect Anton Danilov-Danilian as Director  For       Withhold   Management 
6.12  Reelect Andrei Kazmin as Director         For       Withhold   Management 
6.13  Reelect Alla Aleshkina as Director        For       Withhold   Management 
6.14  Elect Andrei Manoilo as Director          For       Withhold   Management 
6.15  Elect Alexander Soloviev as Director      For       Withhold   Management 
6.16  Elect Sergei Generalov as Director        For       For        Management 
6.17  Reelect Boris Fedorov as Director         For       Withhold   Management 
6.18  Elect Ylya Shcherbovich as Director       For       Withhold   Management 
6.19  Elect Ryan Charles as Director            For       Withhold   Management 
6.20  Reelect Vadim Kleiner as Director         For       For        Management 
7.1   Elect Anna Burkovskaya as Member of       For       For        Management 
Inspection Committee (Audit Commission)                             
7.2   Elect Nikolai Semenov as Member of        For       For        Management 
Inspection Committee (Audit Commission)                             
7.3   Elect Olga Podstrekha as Member of        For       For        Management 
Inspection Committee (Audit Commission)                             
7.4   Elect Valentina Khrapunkova as Member of  For       For        Management 
Inspection Committee (Audit Commission)                             
7.5   Elect Elizaveta Alekseeva as Member of    For       For        Management 
Inspection Committee (Audit Commission)                             
7.6   Elect Maxim Doljnikov as Member of        For       For        Management 
Inspection Committee (Audit Commission)                             
7.7   Elect Natalia Polonskaya as Member of     For       For        Management 
Inspection Committee (Audit Commission)                             
7.8   Elect Valentina Tkachenko as Member of    For       For        Management 
Inspection Committee (Audit Commission)                             
8     Approve Regulations on Executive Board    For       For        Management 
9     Amend Regulations on Board of Directors   For       Against    Management 
10    Amend Regulations on Executive Board      For       Against    Management 

--------------------------------------------------------------------------------

SCHERING-PLOUGH CORP.                                                           

Ticker:       SGP            Security ID:  806605101                            
Meeting Date: APR 27, 2004   Meeting Type: Annual                               
Record Date:  MAR 5, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Fred Hassan               For       For        Management 
1.2   Elect  Director Philip Leder, M.D.        For       For        Management 
1.3   Elect  Director Eugene R. McGrath         For       For        Management 
1.4   Elect  Director Richard de J. Osborne     For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Approve Executive Incentive Bonus Plan    For       For        Management 

--------------------------------------------------------------------------------

SEARS, ROEBUCK & CO.                                                            

Ticker:       S              Security ID:  812387108                            
Meeting Date: MAY 13, 2004   Meeting Type: Annual                               
Record Date:  MAR 15, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director William L. Bax            For       For        Management 
1.2   Elect  Director Donald J. Carty           For       Withhold   Management 
1.3   Elect  Director Alan J. Lacy              For       Withhold   Management 
1.4   Elect  Director Hugh B. Price             For       Withhold   Management 
2     Ratify Auditors                           For       For        Management 
3     Declassify the Board of Directors         Against   For        Shareholder
4     Submit Shareholder Rights Plan (Poison    Against   For        Shareholder
Pill) to Shareholder Vote                                           
5     Establish Other Board Committee           Against   For        Shareholder

--------------------------------------------------------------------------------

SHINSEI BANK LTD.                                                               

Ticker:                      Security ID:  J7385L103                            
Meeting Date: JUN 24, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends on Ordinary                                 
Shares: Interim JY 1.11, Final JY 1.11,                             
Special JY 0                                                        
2.1   Elect Director                            For       For        Management 
2.2   Elect Director                            For       For        Management 
2.3   Elect Director                            For       For        Management 
3     Approve Executive Stock Option Plan       For       For        Management 
4     Authorize Share Repurchase Program        For       For        Management 
5     Approve Retirement Bonuses for Director   For       For        Management 
and Statutory Auditors                                              

--------------------------------------------------------------------------------

SHIRE PHARMACEUTICALS GROUP PLC                                                 

Ticker:                      Security ID:  G81083100                            
Meeting Date: JUN 16, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2     Re-elect James Cavanaugh as Director      For       For        Management 
3     Re-elect Barry Price as Director          For       For        Management 
4     Elect Robin Buchanan as Director          For       For        Management 
5     Elect David Kappler as Director           For       For        Management 
6     Re-appoint Deloitte and Touche LLP as     For       For        Management 
Auditors and Authorise Board to Fix                                 
Remuneration of Auditors                                            
7     Approve Remuneration Report               For       For        Management 
8     Authorise Issuance of Equity or           For       For        Management 
Equity-Linked Securities with Pre-emptive                           
Rights up to Aggregate Nominal Amount of                            
GBP 7,997,400                                                       
9     Authorise Issuance of Equity or           For       For        Management 
Equity-Linked Securities without                                    
Pre-emptive Rights up to Aggregate                                  
Nominal Amount of GBP 1,199,610                                     
10    Authorise 47,985,315 Ordinary Shares for  For       For        Management 
Market Purchase                                                     
11    Authorise the Company to Make EU          For       For        Management 
Political Donations up to Aggregate                                 
Nominal Amount of GBP 25,000 and Incur EU                           
Political Expenditure up to Aggregate                               
Nominal Amount of GBP 25,000                                        

--------------------------------------------------------------------------------

SIEBEL SYSTEMS, INC.                                                            

Ticker:       SEBL           Security ID:  826170102                            
Meeting Date: JUN 23, 2004   Meeting Type: Annual                               
Record Date:  APR 29, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director C. Scott Hartz            For       For        Management 
1.2   Elect  Director Charles R. Schwab         For       For        Management 
1.3   Elect  Director George T. Shaheen         For       For        Management 
1.4   Elect  Director John W. White             For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Expense Stock Options                     Abstain   For        Shareholder

--------------------------------------------------------------------------------

SIEMENS AG                                                                      

Ticker:       SMAG40         Security ID:  D69671218                            
Meeting Date: JAN 22, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Receive Financial Statements and          None      None       Management 
Statutory Reports                                                   
2     Approve Allocation of Income and          For       For        Management 
Dividends of EUR 1.10 per Share                                     
3     Approve Discharge of Management Board for For       For        Management 
Fiscal 2002/2003                                                    
4     Approve Discharge of Supervisory Board    For       For        Management 
for Fiscal 2002/2003                                                
5     Ratify KPMG as Auditors                   For       For        Management 
6     Elect Jerry Speyer to the Supervisory     For       For        Management 
Board; Elect Hans-Dieter Wiedig as a                                
Deputy Supervisory Board Member                                     
7     Authorize Repurchase of up to Ten Percent For       For        Management 
of Issued Share Capital; Authorize Board                            
to Issue Repurchased Shares                                         
8     Approve Creation of EUR 600 Million Pool  For       For        Management 
of Conditional Capital with Preemptive                              
Rights                                                              
9     Approve Issuance of Convertible Bonds     For       For        Management 
and/or Bonds with Warrants Attached up to                           
Aggregate Nominal Amount of EUR 11.3                                
Billion with Preemptive Rights; Approve                             
Creation of EUR 600  Million Pool of                                
Conditional Capital to Guarantee                                    
Conversion Rights                                                   

--------------------------------------------------------------------------------

SK TELECOM                                                                      

Ticker:                      Security ID:  Y4935N104                            
Meeting Date: MAR 12, 2004   Meeting Type: Annual                               
Record Date:  DEC 31, 2003                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Appropriation of Income and       For       For        Management 
Dividends of KRW 5500 Per Share                                     
2     Amend Articles of Incorporation           For       For        Management 
3     Approve Limit on Remuneration of          For       For        Management 
Directors                                                           
4.1   Elect Director(s)                         For       For        Management 
4.2   Elect Member(s) of Audit Committee        For       For        Management 

--------------------------------------------------------------------------------

SMURFIT - STONE CONTAINER CORP.                                                 

Ticker:       SSCC           Security ID:  832727101                            
Meeting Date: MAY 12, 2004   Meeting Type: Annual                               
Record Date:  MAR 15, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director James R. Boris            For       For        Management 
1.2   Elect  Director Alan E. Goldberg          For       For        Management 
1.3   Elect  Director William T. Lynch, Jr.     For       For        Management 
1.4   Elect  Director Patrick J. Moore          For       For        Management 
1.5   Elect  Director James J. O'Connor         For       For        Management 
1.6   Elect  Director Jerry K. Pearlman         For       For        Management 
1.7   Elect  Director Thomas A. Reynolds, III   For       For        Management 
1.8   Elect  Director William D. Smithburg      For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Approve Omnibus Stock Plan                For       For        Management 
4     Approve Deferred Compensation Plan        For       For        Management 
5     Submit Executive Compensation to Vote     Against   Against    Shareholder

--------------------------------------------------------------------------------

SOUTHTRUST CORP.                                                                

Ticker:       SOTR           Security ID:  844730101                            
Meeting Date: APR 21, 2004   Meeting Type: Annual                               
Record Date:  FEB 20, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Carl F. Bailey            For       For        Management 
1.2   Elect  Director John M. Bradford          For       For        Management 
1.3   Elect  Director William C. Hulsey         For       For        Management 
1.4   Elect  Director Wallace D. Malone, Jr.    For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Approve Executive Incentive Bonus Plan    For       For        Management 
4     Approve Omnibus Stock Plan                For       For        Management 

--------------------------------------------------------------------------------

SPX CORP.                                                                       

Ticker:       SPW            Security ID:  784635104                            
Meeting Date: APR 28, 2004   Meeting Type: Annual                               
Record Date:  MAR 8, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Sarah R. Coffin           For       For        Management 
1.2   Elect  Director Charles E. Johnson II     For       For        Management 
1.3   Elect  Director David P. Williams         For       For        Management 

--------------------------------------------------------------------------------

SUNCOR ENERGY INC                                                               

Ticker:       SU.            Security ID:  867229106                            
Meeting Date: APR 29, 2004   Meeting Type: Annual/Special                       
Record Date:  MAR 1, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Mel E. Benson             For       For        Management 
1.2   Elect  Director Brian A. Canfield         For       For        Management 
1.3   Elect  Director Susan E. Crocker          For       For        Management 
1.4   Elect  Director Bryan P. Davies           For       For        Management 
1.5   Elect  Director Brian A. Felesky          For       For        Management 
1.6   Elect  Director John T. Ferguson          For       For        Management 
1.7   Elect  Director W. Douglas Ford           For       For        Management 
1.8   Elect  Director Richard L. George         For       For        Management 
1.9   Elect  Director John R. Huff              For       For        Management 
1.10  Elect  Director Robert W. Korthals        For       For        Management 
1.11  Elect  Director M. Ann McCaig             For       For        Management 
1.12  Elect  Director Michael W. O'Brien        For       For        Management 
1.13  Elect  Director JR Shaw                   For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Submit New Participants in the Senior     Against   Against    Shareholder
Executive Retirement Plan to a                                      
Shareholder Vote                                                    

--------------------------------------------------------------------------------

TANDBERG ASA                                                                    

Ticker:                      Security ID:  R88391108                            
Meeting Date: APR 15, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Open Meeting; Prepare and Approve List of For       For        Management 
Shareholders                                                        
2     Elect Chairman of Meeting; Designate      For       For        Management 
Inspector or Shareholder                                            
Representative(s) of Minutes of Meeting                             
3     Approve Notice of Meeting and Agenda      For       For        Management 
4     Receive Management Report                 None      None       Management 
5     Accept Financial Statements and Statutory For       For        Management 
Reports; Approve Allocation of Income and                           
Dividends of NOK 0.40 Per Share                                     
6     Approve Remuneration of Directors (NOK    For       For        Management 
450,000 for Chairman, NOK 250,000 for                               
Non-Executive Directors, and NOK 150,000                            
for Executive Directors); Approve                                   
Remuneration for Nomination Committee                               
(NOK 20,000 Per Member); Approve                                    
Remuneration of Auditors                                            
7     Reelect Jan Opsahl, Amund Skarholt,       For       For        Management 
Andrew Miller, and Grace Skaugen as                                 
Directors; Elect Joergen-Ole Haslestad as                           
New Director; Elect Halvor Loeken, Aage                             
Korsvold, and Jan Penne as Members of                               
Nominating Committee                                                
8.1   Approve Creation of NOK 13 Million Pool   For       For        Management 
of Conditional Capital without Preemptive                           
Rights                                                              
8.2   Approve Stock Option Plan for Employees;  For       For        Management 
Approve Creation of NOK 3.5 Million Pool                            
of Conditional Capital to Guarantee                                 
Conversion Rights                                                   
8.3   Approve Stock Option Plan for CEO;        For       For        Management 
Approve Creation of NOK 250,000 Pool of                             
Conditional Capital to Guarantee                                    
Conversion Rights; Extend Term of                                   
Existing Stock Option Plan for CEO until                            
April 15, 2006                                                      

--------------------------------------------------------------------------------

TELENOR ASA                                                                     

Ticker:                      Security ID:  R89923107                            
Meeting Date: MAY 6, 2004    Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Notice of Meeting                 For       For        Management 
2     Designate Inspector or Shareholder        For       For        Management 
Representative(s) of Minutes of Meeting                             
3     Approve Financial Statements, Allocation  For       For        Management 
of Income and Dividends of NOK 1 Per                                
Share                                                               
4     Approve Remuneration of Auditors          For       For        Management 
5     Approve NOK 332.7 Million Reduction in    For       For        Management 
Share Capital via Share Cancellation;                               
Approve Repurchase of 14.5 Million Shares                           
from the Kingdom of Norway; Approve                                 
Transfer of NOK 543.4 Million from Share                            
Premium Reserve to Other Equity                                     
6.1   Approve Creation of NOK 524.8 Million     For       For        Management 
Pool of Conditional Capital without                                 
Preemptive Rights                                                   
6.2   Authorize Repurchase of Up to Ten Percent For       For        Management 
of Issued Share Capital                                             

--------------------------------------------------------------------------------

TGS NOPEC GEOPHYSICAL CO. ASA                                                   

Ticker:                      Security ID:  R4745L106                            
Meeting Date: JUN 16, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Open Meeting                              None      None       Management 
2     Elect Chairman of Meeting; Designate      For       For        Management 
Inspector or Shareholder                                            
Representative(s) of Minutes of Meeting                             
3     Approve Notice of Meeting and Agenda      For       For        Management 
4     Approve Financial Statements and          For       For        Management 
Allocation of Income                                                
5     Approve Remuneration of Directors in the  For       For        Management 
Amount of NOK 250,000 and 1,350                                     
Restricted Shares for Chairman and NOK                              
150,000 for Other Directors; Approve                                
Remuneration of NOK 75,000 and 900                                  
Restricted Shares Per Director for                                  
Committee Work                                                      
6     Approve Remuneration of Auditors in the   For       For        Management 
Amount of USD 166,000                                               
7     Authorize Repurchase of Up to Ten Percent For       For        Management 
of Issued Share Capital                                             
8     Approve Stock Option Plan for Employees;  For       Against    Management 
Approve Creation of NOK 500,000 Pool of                             
Conditional Capital to Guarantee                                    
Conversion Rights                                                   
9     Approve Creation of NOK 5 Million Pool of For       For        Management 
Conditional Capital without Preemptive                              
Rights                                                              
10    Elect Claus Kampmann, David Worthington,  For       For        Management 
Henry Hamilton, Arne Maeland, Nils                                  
Gulnes, and Rabbe Lund as Directors                                 

--------------------------------------------------------------------------------

TOYOTA INDUSTRIES CORP. (FORMERLY TOYODA AUTOMATIC LOOM WORKS)                  

Ticker:                      Security ID:  J92628106                            
Meeting Date: JUN 22, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 12,                             
Final JY 12, Special JY 0                                           
2     Amend Articles to: Authorize Share        For       Against    Management 
Repurchases at Board's Discretion                                   
3.1   Appoint Internal Statutory Auditor        For       For        Management 
3.2   Appoint Internal Statutory Auditor        For       Against    Management 
3.3   Appoint Internal Statutory Auditor        For       Against    Management 
4     Approve Executive Stock Option Plan       For       For        Management 
5     Approve Special Bonus for Family of       For       Against    Management 
Deceased Statutory Auditor and Approve                              
Retirement Bonus for Statutory Auditor                              

--------------------------------------------------------------------------------

TOYS 'R' US, INC.                                                               

Ticker:       TOY            Security ID:  892335100                            
Meeting Date: JUN 2, 2004    Meeting Type: Annual                               
Record Date:  APR 9, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director RoAnn Costin              For       For        Management 
1.2   Elect  Director John H. Eyler, Jr.        For       For        Management 
1.3   Elect  Director Roger N. Farah            For       For        Management 
1.4   Elect  Director Peter A. Georgescu        For       For        Management 
1.5   Elect  Director Cinda A. Hallman          For       For        Management 
1.6   Elect  Director Calvin Hill               For       For        Management 
1.7   Elect  Director Nancy Karch               For       For        Management 
1.8   Elect  Director Norman S. Matthews        For       For        Management 
1.9   Elect  Director Arthur B. Newman          For       For        Management 
1.10  Elect  Director Frank R. Noonan           For       For        Management 
2     Require a Majority Vote for the Election  Against   Against    Shareholder
of Directors                                                        

--------------------------------------------------------------------------------

TPG NV (FORMERLY TNT POST GROUP NV)                                             

Ticker:       TP             Security ID:  N31143105                            
Meeting Date: APR 7, 2004    Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Open Meeting                              None      None       Management 
2     Receive Presentation by M. Bakker         None      None       Management 
3     Receive Report of Management Board        None      None       Management 
4     Discussion about Company's Corporate      None      None       Management 
Governance Policy                                                   
5.1   Approve Financial Statements and          For       For        Management 
Statutory Reports                                                   
5.2   Receive Explanation of Company's Reserves None      None       Management 
and Dividend Policy                                                 
5.3   Approve Discharge of Management Board     For       For        Management 
5.4   Approve Discharge of Supervisory Board    For       For        Management 
5.5   Authorize Board to Prepare Annual Report  For       For        Management 
in English                                                          
6.1   Ratify Previous Appointment of D. Kulik   For       For        Management 
and M. Lombard as New Members to the                                
Management Board                                                    
6.2   Reelect M. Bakker to Management Board     For       For        Management 
7     Approve Remuneration Policy for           For       For        Management 
Management Board                                                    
8.1   Opportunity for General Meeting to Make   None      None       Management 
Recommendations for Appointment Member of                           
Supervisory Board                                                   
8.2   Reelect R. Abrahamsen to Supervisory      For       For        Management 
Board                                                               
8.3   Receive Announcement of Resignation of J. None      None       Management 
Hommem from Supervisory Board                                       
9.1   Grant Board Authority to Issue All        For       Against    Management 
Preference B Shares as well as Ordinary                             
Shares Up to 20 Percent of Issued Share                             
Capital                                                             
9.2   Grant Board Authority to Restrict/Exclude For       Against    Management 
Preemptive Rights from Ordinary Share                               
Issuance Under Item 9.1                                             
10    Authorize Repurchase of Up to Ten Percent For       For        Management 
of Issued Share Capital                                             
11    Receive Announcement on the Conclusions   None      None       Management 
of Three-Year Assessment of the                                     
Functioning of the External Auditor                                 
12    Amend Articles Re: Add Indemnity Clause   For       For        Management 
to Indemnify Members of Management Board                            
and Supervisory Board                                               
13    Allow Questions                           None      None       Management 
14    Close Meeting                             None      None       Management 

--------------------------------------------------------------------------------

TRIAD GUARANTY INC.                                                             

Ticker:       TGIC           Security ID:  895925105                            
Meeting Date: MAY 20, 2004   Meeting Type: Annual                               
Record Date:  APR 1, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Glenn T. Austin, Jr.      For       For        Management 
1.2   Elect  Director Robert T. David           For       For        Management 
1.3   Elect  Director William T. Ratliff, III   For       For        Management 
1.4   Elect  Director Michael A. F. Roberts     For       For        Management 
1.5   Elect  Director Richard S. Swanson        For       For        Management 
1.6   Elect  Director Darryl W. Thompson        For       For        Management 
1.7   Elect  Director David W. Whitehurst       For       For        Management 

--------------------------------------------------------------------------------

TRIAD HOSPITALS, INC.                                                           

Ticker:       TRI            Security ID:  89579K109                            
Meeting Date: MAY 25, 2004   Meeting Type: Annual                               
Record Date:  APR 9, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director James D. Shelton          For       For        Management 
1.2   Elect  Director Thomas F. Frist III       For       For        Management 
1.3   Elect  Director Gale E. Sayers            For       For        Management 
1.4   Elect  Director Nancy-Ann DeParle         For       For        Management 
1.5   Elect  Director Michael K. Jhin           For       For        Management 
1.6   Elect  Director Harriet R. Michel         For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Amend Omnibus Stock Plan                  For       For        Management 

--------------------------------------------------------------------------------

TYCO INTERNATIONAL LTD.                                                         

Ticker:       TYC            Security ID:  902124106                            
Meeting Date: MAR 25, 2004   Meeting Type: Annual                               
Record Date:  MAR 25, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Dennis C. Blair           For       For        Management 
1.2   Elect  Director Edward D. Breen           For       For        Management 
1.3   Elect  Director George W. Buckley         For       For        Management 
1.4   Elect  Director Brian Duperreault         For       For        Management 
1.5   Elect  Director Bruce S. Gordon           For       For        Management 
1.6   Elect  Director John A. Krol              For       For        Management 
1.7   Elect  Director Mackey J. Mcdonald        For       For        Management 
1.8   Elect  Director H. Carl Mccall            For       For        Management 
1.9   Elect  Director Brendan R. O'Neill        For       For        Management 
1.10  Elect  Director Sandra S. Wijnberg        For       For        Management 
1.11  Elect  Director Jerome B. York            For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     ADOPTION OF THE AMENDED AND RESTATED      For       For        Management 
BYE-LAWS.                                                           
4     APPROVAL OF TYCO 2004 STOCK AND INCENTIVE For       For        Management 
PLAN.                                                               
5     SHAREHOLDER PROPOSAL REGARDING            For       Against    Shareholder
ENVIRONMENTAL REPORTING.                                            
6     SHAREHOLDER PROPOSAL TO CHANGE TYCO S     Against   Against    Shareholder
JURISDICTION OF INCORPORATION FROM                                  
BERMUDA TO A U.S. STATE.                                            
7     SHAREHOLDER PROPOSAL ON  COMMON SENSE     Against   Against    Shareholder
EXECUTIVE COMPENSATION.                                             

--------------------------------------------------------------------------------

UNILEVER PLC                                                                    

Ticker:       UL             Security ID:  G92087124                            
Meeting Date: MAY 12, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2     Approve Remuneration Report               For       For        Management 
3     Approve Final Dividend of 11.92 Pence Per For       For        Management 
Ordinary Share                                                      
4     Re-elect Niall Fitzgerald as Director     For       For        Management 
5     Re-elect Antony Burgmans as Director      For       For        Management 
6     Re-elect Clive Butler as Director         For       For        Management 
7     Re-elect Patrick Cescau as Director       For       For        Management 
8     Re-elect Keki Dadiseth as Director        For       For        Management 
9     Re-elect Andre baron van Heemstra as      For       For        Management 
Director                                                            
10    Re-elect Rudy Markham as Director         For       For        Management 
11    Elect Kees van der Graaf as Director      For       For        Management 
12    Re-elect Lord Brittan of Spennithorne as  For       For        Management 
Director                                                            
13    Re-elect Baroness Chalker of Wallasey as  For       For        Management 
Director                                                            
14    Re-elect Bertrand Collomb as Director     For       For        Management 
15    Re-elect Wim Dik as Director              For       For        Management 
16    Re-elect Oscar Fanjul as Director         For       For        Management 
17    Re-elect Claudio Gonzalez as Director     For       For        Management 
18    Re-elect Hilmar Kopper as Director        For       For        Management 
19    Re-elect The Lord Simon of Highbury as    For       For        Management 
Director                                                            
20    Re-elect Jeroen van der Veer as Director  For       For        Management 
21    Re-appoint PricewaterhouseCoopers LLP as  For       For        Management 
Auditors of the Company                                             
22    Authorise Board to Fix Remuneration of    For       For        Management 
the Auditors                                                        
23    Authorise Issuance of Equity or           For       For        Management 
Equity-Linked Securities with Pre-emptive                           
Rights up to Aggregate Nominal Amount of                            
GBP 13,450,000                                                      
24    Authorise Issuance of Equity or           For       For        Management 
Equity-Linked Securities without                                    
Pre-emptive Rights up to Aggregate                                  
Nominal Amount of GBP 2 Million                                     
25    Authorise 290 Million Ordinary Shares for For       For        Management 
Market Purchase                                                     
26    Amend Articles of Association Re: New     For       For        Management 
Corporate Governance Arrangements                                   
27    Amend Articles of Association Re:         For       For        Management 
Treasury Shares                                                     

--------------------------------------------------------------------------------

UNITED STATES STEEL CORP.                                                       

Ticker:       X              Security ID:  912909108                            
Meeting Date: APR 27, 2004   Meeting Type: Annual                               
Record Date:  FEB 27, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Robert J. Darnall         For       For        Management 
1.2   Elect  Director Roy G. Dorrance           For       For        Management 
1.3   Elect  Director Charles R. Lee            For       For        Management 
1.4   Elect  Director John G. Drosdick          For       For        Management 
2     Ratify Auditors                           For       For        Management 

--------------------------------------------------------------------------------

UPM-KYMMENE OY (FORMERLY KYMMENE CORP.)                                         

Ticker:       UPM            Security ID:  X9518S108                            
Meeting Date: MAR 24, 2004   Meeting Type: Annual                               
Record Date:  MAR 12, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Receive Financial Statements and          None      None       Management 
Statutory Reports                                                   
1.2   Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
1.3   Approve Allocation of Income and          For       For        Management 
Dividends of EUR 0.75 Per Share                                     
1.4   Approve Discharge of Board and President  For       For        Management 
1.5   Fix Number of Directors                   For       For        Management 
1.6   Approve Remuneration of Directors         For       For        Management 
1.7   ElectDirectors                            For       For        Management 
1.8   Appoint Auditors and Deputy Auditors      For       For        Management 
2     Authorize Repurchase of Up to Five        For       For        Management 
Percent of Issued Share Capital                                     
3     Authorize Reissuance of Repurchased       For       For        Management 
Shares                                                              
4     Approve Issuance of Shares and/or         For       For        Management 
Convertible Bonds Up to EUR 178 Million                             
Nominal Value without Preemptive Rights                             

--------------------------------------------------------------------------------

VARCO INTERNATIONAL, INC.                                                       

Ticker:       VRC            Security ID:  922122106                            
Meeting Date: MAY 20, 2004   Meeting Type: Annual                               
Record Date:  MAR 22, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director Greg L. Armstrong         For       For        Management 
1.2   Elect  Director George S. Dotson          For       For        Management 
1.3   Elect  Director Richard A. Kertson        For       For        Management 
1.4   Elect  Director John F. Lauletta          For       For        Management 
1.5   Elect  Director Eric L. Mattson           For       For        Management 
1.6   Elect  Director L.E. Simmons              For       For        Management 
1.7   Elect  Director Jeffery A. Smisek         For       For        Management 
1.8   Elect  Director Douglas E. Swanson        For       For        Management 
1.9   Elect  Director James D. Woods            For       For        Management 
2     Amend Employee Stock Purchase Plan        For       For        Management 
3     Ratify Auditors                           For       For        Management 

--------------------------------------------------------------------------------

VENTURE CORPORATION LTD (FRMLY VENTURE MANUFACTURING)                           

Ticker:                      Security ID:  Y9360Y103                            
Meeting Date: APR 30, 2004   Meeting Type: Special                              
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Amend Articles of Association             For       For        Management 
2     Approve Issuance of Shares without        For       For        Management 
Preemptive Rights                                                   
3     Adopt Venture Corporation Executives'     For       Against    Management 
Share Option Scheme                                                 

--------------------------------------------------------------------------------

VENTURE CORPORATION LTD (FRMLY VENTURE MANUFACTURING)                           

Ticker:                      Security ID:  Y9360Y103                            
Meeting Date: APR 30, 2004   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Adopt Financial Statements and Directors' For       For        Management 
and Auditors' Reports                                               
2     Declare Final and Bonus Dividends         For       For        Management 
3     Reelect Soo Eng Hiong as Director         For       For        Management 
4     Reelect Goh Geok Ling as Director         For       For        Management 
5     Reelect Goon Kok Loon as Director         For       For        Management 
6     Reelect Cecil Vivian Richard Wong as      For       For        Management 
Director                                                            
7     Approve Directors' Fees of SGD 86,000     For       For        Management 
8     Reappoint Deloiotte & Touche as Auditors  For       For        Management 
and Authorize Board to Fix Their                                    
Remuneration                                                        
9     Approve Issuance of Shares without        For       For        Management 
Preemptive Rights                                                   
10    Approve Issuance of Shares and Grant of   For       Against    Management 
Options Pursuant to the Venture                                     
Manufacturing (Singapore) Ltd.                                      
Executives' Share Option Scheme                                     

--------------------------------------------------------------------------------

VIACOM INC.                                                                     

Ticker:       VIA            Security ID:  925524308                            
Meeting Date: MAY 19, 2004   Meeting Type: Annual                               
Record Date:  MAR 22, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director George S. Abrams          For       For        Management 
1.2   Elect  Director David R. Andelman         For       For        Management 
1.3   Elect  Director Joseph A. Califano, Jr.   For       For        Management 
1.4   Elect  Director William S. Cohen          For       For        Management 
1.5   Elect  Director Philippe P. Dauman        For       For        Management 
1.6   Elect  Director Alan C. Greenberg         For       For        Management 
1.7   Elect  Director Mel Karmazin              For       For        Management 
1.8   Elect  Director Jan Leschly               For       For        Management 
1.9   Elect  Director David T. McLaughlin       For       For        Management 
1.10  Elect  Director Shari Redstone            For       Withhold   Management 
1.11  Elect  Director Sumner M. Redstone        For       Withhold   Management 
1.12  Elect  Director Frederic V. Salerno       For       For        Management 
1.13  Elect  Director William Schwartz          For       For        Management 
1.14  Elect  Director Patty Stonesifer          For       For        Management 
1.15  Elect  Director Robert D. Walter          For       For        Management 
2     Ratify Auditors                           For       For        Management 
3     Approve Omnibus Stock Plan                For       For        Management 
4     Amend Non-Employee Director Stock Option  For       For        Management 
Plan                                                                

--------------------------------------------------------------------------------

VODAFONE GROUP PLC                                                              

Ticker:                      Security ID:  G93882101                            
Meeting Date: JUL 30, 2003   Meeting Type: Annual                               
Record Date:                                                                    

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2     Approve Remuneration Report               For       For        Management 
3     Reelect Lord MacLaurin of Knebworth as    For       For        Management 
Director                                                            
4     Reelect Kenneth Hydon as Director         For       For        Management 
5     Reelect Thomas Geitner as Director        For       For        Management 
6     Reelect Alec Broers as Director           For       For        Management 
7     Reelect Juergen Schrempp as Director      For       For        Management 
8     Elect John Buchanan as Director           For       For        Management 
9     Approve Final Dividend of 0.8983 Pence    For       For        Management 
Per Share                                                           
10    Ratify Deloitte and Touche as Auditors    For       For        Management 
11    Authorize Board to Fix Remuneration of    For       For        Management 
Auditors                                                            
12    Authorize EU Political Donations up to    For       For        Management 
GBP 100,000                                                         
13    Authorize Issuance of Equity or           For       For        Management 
Equity-Linked Securities with Preemptive                            
Rights up to Aggregate Nominal Amount of                            
USD 900,000,000                                                     
14    Authorize Issuance of Equity or           For       For        Management 
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        Management 
Repurchase Program                                                  

--------------------------------------------------------------------------------

XL CAPITAL LTD (FORMERLY EXEL LTD. )                                            

Ticker:       XL             Security ID:  G98255105                            
Meeting Date: APR 30, 2004   Meeting Type: Annual                               
Record Date:  MAR 15, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Elect  Director John Loudon               For       For        Management 
1.2   Elect  Director Robert S. Parker          For       For        Management 
1.3   Elect  Director Alan Z. Senter            For       For        Management 
2     Ratify Auditors                           For       For        Management 

--------------------------------------------------------------------------------

YAMANOUCHI PHARMACEUTICAL CO. LTD.                                              

Ticker:                      Security ID:  J96216122                            
Meeting Date: JUN 24, 2004   Meeting Type: Annual                               
Record Date:  MAR 31, 2004                                                      

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1     Approve Allocation of Income, Including   For       For        Management 
the Following Dividends: Interim JY 15,                             
Final JY 16, Special JY 0                                           
2     Amend Articles to: Authorize Share        For       Against    Management 
Repurchases at Board's Discretion                                   
3     Approve Merger Agreement with Fujisawa    For       For        Management 
Pharmaceutical Co.                                                  
4.1   Elect Director                            For       For        Management 
4.2   Elect Director                            For       For        Management 
4.3   Elect Director                            For       For        Management 
5.1   Appoint Internal Statutory Auditor        For       For        Management 
5.2   Appoint Internal Statutory Auditor        For       For        Management 
6     Approve Executive Stock Option Plan       For       For        Management 
7     Approve Retirement Bonuses for Directors  For       For        Management 

--------------------------------------------------------------------------------

YUNG TAY ENGINEERING CO                                                         

Ticker:                      Security ID:  Y9881Q100                            
Meeting Date: MAY 7, 2004    Meeting Type: Annual                               
Record Date:  MAR 8, 2004                                                       

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor    
1.1   Receive Report on Business Operation      None      None       Management 
Results of FY 2003                                                  
1.2   Receive Report on Business Operation      None      None       Management 
Forecast of FY 2004                                                 
1.3   Receive Supervisors' Report               None      None       Management 
1.4   Receive Report on Endorsement Guaranty to None      None       Management 
Third Party                                                         
1.5   Receive Report on the Indirect Investment None      None       Management 
2.1   Accept Financial Statements and Statutory For       For        Management 
Reports                                                             
2.2   Approve Allocation of Income and          For       For        Management 
Dividends                                                           
2.3   Approve Issuance of Overseas Convertible  For       Against    Management 
Bonds                                                               
2.4   Amend Articles of Association             For       For        Management 
3     Other Business                            None      None       Management 

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.                           

Merrill Lynch Global Value Fund, Inc.                                           

By:    /s/ Terry K. Glenn                                                       
Terry K. Glenn,                                                   
President of Merrill Lynch Global Value Fund, Inc.                

Date: August 10, 2004                                                           

Dates Referenced Herein   and   Documents Incorporated by Reference

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