N-PX 1 b56269stnvpx.txt THE SELECT SECTOR SPDR TRUST UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-08837 --------- The Select Sector SPDR(R) Trust ------------------------------- (Exact name of registrant as specified in charter) One Lincoln Street, Boston, MA 02111 ------------------------------------ (Address of principal executive offices) (Zip code) Scott M. Zoltowski, Esq., State Street Bank and Trust Company, -------------------------------------------------------------- One Lincoln Street, Boston, MA 02111 ------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (303) 623-2577 --------------- Date of fiscal year end: September 30 ------------- Date of reporting period: June 30, 2005 ------------- Item 1. Proxy Voting Record VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 FINANCIAL SELECT SECTOR SPDR FUND - J917
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 07/28/04 - A THE ST. PAUL TRAVELERS COMPANIES, 792860108 06/04/04 253,245 INC. *STA* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 08/17/04 - S COUNTRYWIDE FINANCIAL CORP. *CFC* 222372104 07/09/04 108,843 1 Increase Authorized Common Stock For For Mgmt 08/23/04 - S CHARTER ONE FINANCIAL, INC. 160903100 07/01/04 85,424 1 Approve Merger Agreement For For Mgmt 2 Adjourn Meeting For Against Mgmt In this case, shareholders already have enough information to make their vote decisions. Once their votes have been cast, there is no justification for spending more money to continue pressing shareholders for more votes. 08/31/04 - S NORTH FORK BANCORPORATION, INC. *NFB* 659424105 07/23/04 74,564 1 Approve Merger Agreement For For Mgmt 09/15/04 - S SUNTRUST BANKS, INC. *STI* 867914103 07/30/04 125,814 1 Approve Merger Agreement For For Mgmt 2 Adjourn Meeting For Against Mgmt In this case, shareholders already have enough information to make their vote decisions. Once their votes have been cast, there is no justification for spending more money to continue pressing shareholders for more votes. 10/28/04 - S SOUTHTRUST CORP. 844730101 09/21/04 154,436 1 Approve Merger Agreement For For Mgmt 10/28/04 - S WACHOVIA CORP. *WB* 929903102 08/20/04 551,832 1 Approve Merger Agreement For For Mgmt 11/04/04 - A FREDDIE MAC *FRE* 313400301 09/10/04 318,415 1 Elect Directors For Split Mgmt 1.1 Elect Director Barbara T. Alexander --- For
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 1.2 Elect Director Geoffrey T. Boisi --- For 1.3 Elect Director Michelle Engler --- Withhold Michelle Engler is an affiliated outsider on the compensation committee. 1.4 Elect Director Richard Karl Goeltz --- For 1.5 Elect Director Thomas S. Johnson --- For 1.6 Elect Director William M. Lewis, Jr. --- For 1.7 Elect Director John B. Mccoy --- For 1.8 Elect Director Eugene M. Mcquade --- For 1.9 Elect Director Shaun F. O'Malley --- For 1.10 Elect Director Ronald F. Poe --- For 1.11 Elect Director Stephen A. Ross --- For 1.12 Elect Director Richard F. Syron --- For 1.13 Elect Director William J. Turner --- For 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Amend Employee Stock Purchase Plan For For Mgmt 01/25/05 - A FRANKLIN RESOURCES, INC. *BEN* 354613101 11/30/04 137,408 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Increase Authorized Common Stock For For Mgmt 03/15/05 - A MORGAN STANLEY *MWD* 617446448 01/14/05 579,014 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Limit Executive Compensation Against Against ShrHoldr 03/22/05 - A FIFTH THIRD BANCORP *FITB* 316773100 01/31/05 308,378 1 Elect Directors For For Mgmt 2 Approve Decrease in Size of Board For For Mgmt 3 Ratify Auditors For For Mgmt 04/05/05 - A LEHMAN BROTHERS HOLDINGS INC. *LEH* 524908100 02/11/05 149,499 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 3 Approve Omnibus Stock Plan For Against Mgmt The initiative cannot be supported due to the trend of recent option grants and the total level of potential dilution under all plans is above the allowable cap of 15%. 4 Limit Executive Compensation Against Against ShrHoldr 04/06/05 - A THE GOLDMAN SACHS GROUP, INC. *GS* 38141G104 02/07/05 224,283 1 Elect Directors For For Mgmt 2 Declassify the Board of Directors For For Mgmt 3 Ratify Auditors For For Mgmt 04/07/05 - A THE BEAR STEARNS COMPANIES INC. *BSC* 073902108 02/23/05 63,799 1 Elect Directors For For Mgmt 2 Amend Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 04/12/05 - A THE BANK OF NEW YORK CO., INC. *BK* 064057102 02/22/05 474,022 1 Elect Directors For Split Mgmt 1.1 Elect Director Frank J. Biondi Jr. --- For 1.2 Elect Director Nicholas M. Donofrio --- For 1.3 Elect Director Gerald L. Hassell --- For 1.4 Elect Director Richard J. Kogan --- For 1.5 Elect Director Michael J. Kowalski --- For 1.6 Elect Director John A. Luke Jr. --- For 1.7 Elect Director John C. Malone --- Withhold John C. Malone is an affiliated outsider on the compensation and nominating committees. 1.8 Elect Director Paul Myners --- For 1.9 Elect Director Catherine A. Rein --- For 1.10 Elect Director Thomas A. Renyi --- For 1.11 Elect Director William C. Richardson --- For 1.12 Elect Director Brian L. Roberts --- For 1.13 Elect Director Samuel C. Scott --- For 2 Ratify Auditors For For Mgmt 3 Provide for Cumulative Voting Against Against ShrHoldr 4 Limit Executive Compensation Against Against ShrHoldr
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 04/15/05 - A THE PROGRESSIVE CORP. *PGR* 743315103 02/17/05 108,067 1 Elect Directors For For Mgmt 2 Authorize Board to Fill Vacancies For For Mgmt 3 Ratify Auditors For For Mgmt 04/18/05 - A COMPASS BANCSHARES, INC. *CBSS* 20449H109 03/04/05 61,760 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/19/05 - A CITIGROUP INC. *C* 172967101 02/25/05 2,774,619 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Limit/Prohibit Awards to Executives Against Against ShrHoldr 5 Report on Political Contributions Against Against ShrHoldr 6 Prohibit Chairman From Management Duties, Against Against ShrHoldr Titles or Responsibilities 7 Limit Executive Compensation Against Against ShrHoldr 8 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 9 Review/Limit Executive Compensation Against Against ShrHoldr 10 Adopt Simple Majority Vote Against For ShrHoldr SSGA supports shareholder proposals seeking to eliminate supermajority vote requirements, as they may serve as entrenchment devices for management and therefore are not in the shareholders' best interest. 04/19/05 - A FIRST HORIZON NATIONAL CORP *FHN* 320517105 02/25/05 65,749 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/19/05 - A M & T BANK CORP. *MTB* 55261F104 02/28/05 60,451 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 15%. 3 Ratify Auditors For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 04/19/05 - A MELLON FINANCIAL CORP. *MEL* 58551A108 02/11/05 235,150 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/19/05 - A NORTHERN TRUST CORP. *NTRS* 665859104 02/28/05 114,134 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/19/05 - A SUNTRUST BANKS, INC. *STI* 867914103 02/25/05 197,882 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Management Incentive Plan For For Mgmt 4 Approve Performance Unit Plan For For Mgmt 04/19/05 - A U.S. BANCORP *USB* 902973304 02/28/05 973,721 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Reduce Supermajority Vote Requirement For For Mgmt 4 Performance- Based/Indexed Options Against For ShrHoldr Since the company does not grant a substantial portion of the awards as performance-based awards, this proposal warrants support. 5 Prohibit Auditor from Providing Non-Audit Against Against ShrHoldr Services 04/19/05 - A WACHOVIA CORP. *WB* 929903102 02/16/05 884,624 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/19/05 - A WASHINGTON MUTUAL, INC *WM* 939322103 02/28/05 454,361 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/20/05 - A STATE STREET CORP. (BOSTON) *STT* 857477103 02/25/05 177,861 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/21/05 - A AMSOUTH BANCORPORATION *ASO* 032165102 02/22/05 218,230 1 Elect Directors For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 2 Ratify Auditors For For Mgmt 3 Report on Political Contributions Against Against ShrHoldr 04/21/05 - A SOVEREIGN BANCORP, INC. *SOV* 845905108 03/01/05 197,897 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/22/05 - A MERRILL LYNCH & CO., INC. *MER* 590188108 02/22/05 569,227 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Non-Employee Director Restricted For For Mgmt Stock Plan 4 Provide for Cumulative Voting Against Against ShrHoldr 5 Limit Executive Compensation Against Against ShrHoldr 04/23/05 - A CINCINNATI FINANCIAL CORP. *CINF* 172062101 02/25/05 87,449 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Approve Stock Option Plan For For Mgmt 5 Approve Outside Director Stock For For Mgmt Awards/Options in Lieu of Cash 04/26/05 - A BB&T CORPORATION *BBT* 054937107 03/07/05 278,454 1 Elect Directors For Split Mgmt 1.1 Elect Director Alfred E. Cleveland --- Withhold WITHHOLD votes from Albert F. Zettlemoyer and Alfred E. Cleveland for standing as affiliated outsiders on the Compensation Committee and Nominating Committee. 1.2 Elect Director Anna R. Cablik --- For 1.3 Elect Director John P. Howe, III --- For 1.4 Elect Director Nido R. Qubein --- For 1.5 Elect Director Albert F. Zettlemoyer --- Withhold 2 Ratify Auditors For For Mgmt 04/26/05 - A GOLDEN WEST FINANCIAL CORP. *GDW* 381317106 03/01/05 161,416 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 3 Ratify Auditors For For Mgmt 04/26/05 - A MARSHALL & ILSLEY CORP. *MI* 571834100 03/01/05 118,260 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/26/05 - A METLIFE, INC *MET* 59156R108 03/01/05 392,240 1 Elect Directors For Split Mgmt 1.1 Elect Director Cheryl W. Grise --- For 1.2 Elect Director James R. Houghton --- For 1.3 Elect Director Helene L. Kaplan --- Withhold WITHHOLD votes from Helene L. Kaplan for standing as an affiliated outsider on the Nominating Committee. 1.4 Elect Director Sylvia M. Mathews --- For 1.5 Elect Director William C. Steere, Jr. --- For 2 Ratify Auditors For For Mgmt 3 Establish Other Board Committee Against Against ShrHoldr 04/26/05 - A MOODY'S CORPORATION *MCO* 615369105 03/01/05 77,936 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Ratify Auditors For For Mgmt 04/26/05 - A NATIONAL CITY CORP. *NCC* 635405103 03/04/05 341,582 1 Elect Directors For For Mgmt 2 Ratify Auditor For For Mgmt 04/26/05 - A PNC FINANCIAL SERVICES GROUP, INC. 693475105 02/28/05 147,043 *PNC* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/26/05 - A T. ROWE PRICE GROUP, INC. *TROW* 74144T108 02/25/05 68,366 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Other Business For Against Mgmt Details of other business items not disclosed
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 04/26/05 - A THE CHUBB CORP. *CB* 171232101 03/07/05 96,637 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/26/05 - A WELLS FARGO & COMPANY *WFC* 949746101 03/08/05 967,330 1 Elect Directors For Split Mgmt 1.1 Elect Director J.A. Blanchard III --- For 1.2 Elect Director Susan E. Engel --- For 1.3 Elect Director Enrique Hernandez, Jr. --- Withhold Enrique Hernandez, Jr. is an affiliated outsider on the audit committee. 1.4 Elect Director Robert L. Joss --- For 1.5 Elect Director Reatha Clark King --- For 1.6 Elect Director Richard M. Kovacevich --- For 1.7 Elect Director Richard D. McCormick --- For 1.8 Elect Director Cynthia H. Milligan --- Withhold WITHHOLD votes from Cynthia H. Milligan for standing as an affiliated outsider on the Audit and Nominating committees and from Judith M. Runstad for standing as an affiliated outsider on the Audit Committee. WITHHOLD votes from Michael W. Wright and Donald B. Rice for standing as affiliated outsiders on the Compensation and Nominating committees. 1.9 Elect Director Philip J. Quigley --- Withhold 1.10 Elect Director Donald B. Rice --- Withhold 1.11 Elect Director Judith M. Runstad --- Withhold 1.12 Elect Director Stephen W. Sanger --- For 1.13 Elect Director Susan G. Swenson --- For 1.14 Elect Director Michael W. Wright --- For 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Adopt Policy on Payday Lenders Against Against ShrHoldr 5 Link Executive Compensation to Predatory Against Against ShrHoldr Lending 6 Performance- Based/Indexed Options Against For ShrHoldr SSGA supports performance-based compensation.
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 7 Limit Executive Compensation Against Against ShrHoldr 8 Separate Chairman and CEO Positions Against Against ShrHoldr 04/27/05 - A AMERICAN EXPRESS CO. *AXP* 025816109 02/28/05 654,602 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Company-Specific--Compensation-Related Against Against ShrHoldr 4 Report on Political Contributions Against Against ShrHoldr 04/27/05 - A BANK OF AMERICA CORP. *BAC* 060505104 03/04/05 2,040,471 1 Elect Directors For Split Mgmt 1.1 Elect Director William Barnet, III --- For 1.2 Elect Director Charles W. Coker --- For 1.3 Elect Director John T. Collins --- For 1.4 Elect Director Gary L. Countryman --- Withhold WITHHOLD votes from Gary L. Countryman for standing as an affiliated outsider on the Compensation Committee. 1.5 Elect Director Paul Fulton --- For 1.6 Elect Director Charles K. Gifford --- For 1.7 Elect Director W. Steven Jones --- For 1.8 Elect Director Kenneth D. Lewis --- For 1.9 Elect Director Walter E. Massey --- For 1.10 Elect Director Thomas J. May --- For 1.11 Elect Director Patricia E. Mitchell --- For 1.12 Elect Director Edward L. Romero --- For 1.13 Elect Director Thomas M. Ryan --- For 1.14 Elect Director O. Temple Sloan, Jr. --- For 1.15 Elect Director Meredith R. Spangler --- For 1.16 Elect Director Robert L. Tillman --- For 1.17 Elect Director Jackie M. Ward --- For 2 Ratify Auditors For For Mgmt 3 Report on Political Contributions Against Against ShrHoldr 4 Director Nominee Amendment Against Against ShrHoldr 04/27/05 - A HUNTINGTON BANCSHARES INC. *HBAN* 446150104 02/18/05 129,905 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 04/28/05 - A CAPITAL ONE FINANCIAL CORP. *COF* 14040H105 02/28/05 126,311 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 4 Report on Pay Disparity Against Against ShrHoldr 04/28/05 - A SYNOVUS FINANCIAL CORP. *SNV* 87161C105 02/17/05 166,725 1 Elect Directors For Split Mgmt 1.1 Elect Director Daniel P. Amos --- Withhold Daniel P. Amos is an affiliated outsider on the nominating committee. 1.2 Elect Director Richard E. Anthony --- For 1.3 Elect Director C. Edward Floyd --- For 1.4 Elect Director Mason H. Lampton --- For 1.5 Elect Director Elizabeth C. Ogle --- For 1.6 Elect Director Melvin T. Smith --- For 2 Ratify Auditors For For Mgmt 04/28/05 - A TORCHMARK CORP. *TMK* 891027104 03/04/05 54,903 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Non-Employee Director Stock Option For For Mgmt Plan 4 Approve Omnibus Stock Plan For For Mgmt 5 Make Effort to Locate Women and Minorities Against Against ShrHoldr for Board Nomination 04/29/05 - A APARTMENT INVESTMENT & MANAGEMENT CO. 03748R101 03/04/05 48,134 *AIV* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approval of the Sale of High Performance For For Mgmt Units 04/29/05 - A XL CAPITAL LTD (FORMERLY EXEL LTD.) G98255105 03/14/05 73,394 *XL* MEETING FOR HOLDERS OF ADR'S 1 Elect Directors For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 2 Ratify Auditors For For Mgmt 3 TO APPROVE THE AMENDMENT AND RESTATEMENT OF For For Mgmt THE COMPANY S 1991 PERFORMANCE INCENTIVE PROGRAM. 05/02/05 - A AFLAC INCORPORATED *AFL* 001055102 02/23/05 311,975 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/02/05 - A JEFFERSON-PILOT CORP. *JP* 475070108 03/01/05 71,899 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/02/05 - A MBNA CORP. *KRB* 55262L100 02/04/05 582,962 1 Elect Directors For Split Mgmt 1.1 Elect Director James H. Berick --- Withhold WITHHOLD votes from James H. Berick for standing as an affiliated outsider on the Audit Committee, from Benjamin R. Civiletti and James H. Berick for standing as affiliated outsiders on the Compensation Committee, from Benjamin R. Civiletti and James H. Berick for standing as affiliated outsiders on the Nominating Committee. 1.2 Elect Director Mary M. Boies --- For 1.3 Elect Director Benjamin R. Civiletti --- Withhold 1.4 Elect Director Bruce L. Hammonds --- For 1.5 Elect Director William L. Jews --- For 1.6 Elect Director Randolph D. Lerner --- For 1.7 Elect Director Stuart L. Markowitz, M.D. --- For 1.8 Elect Director William B. Milstead --- For 1.9 Elect Director Thomas G. Murdough, Jr. --- For 1.10 Elect Director Laura S. Unger --- For 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against Against ShrHoldr 4 Performance- Based/Indexed Options Against For ShrHoldr SSGA supports performance-based compensation.
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 05/03/05 - A AMBAC FINANCIAL GROUP, INC. *ABK* 023139108 03/07/05 54,731 1 Elect Directors For For Mgmt 2 Amend Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/03/05 - A NORTH FORK BANCORPORATION, INC. *NFB* 659424105 03/04/05 238,188 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Ratify Auditors For For Mgmt 05/03/05 - A THE ST. PAUL TRAVELERS COMPANIES, 792860108 03/11/05 372,976 INC. *STA* 1 Elect Directors For Split Mgmt 1.1 Elect Director John H. Dasburg --- For 1.2 Elect Director Leslie B. Disharoon --- For 1.3 Elect Director Janet M. Dolan --- For 1.4 Elect Director Kenneth M. Duberstein --- For 1.5 Elect Director Jay S. Fishman --- For 1.6 Elect Director Lawrence G. Graev --- Withhold WITHHOLD votes from Lawrence G. Graev for standing as an affiliated outsider on the Compensation and Nominating committees. 1.7 Elect Director Thomas R. Hodgson --- For 1.8 Elect Director Robert I. Lipp --- For 1.9 Elect Director Blythe J. McGarvie --- For 1.10 Elect Director Glen D. Nelson, M.D. --- For 1.11 Elect Director Clarence Otis, Jr. --- For 1.12 Elect Director Charles W. Scharf --- For 1.13 Elect Director Laurie J. Thomsen --- For 2 Ratify Auditors For For Mgmt 05/04/05 - A ARCHSTONE SMITH TRUST *ASN* 039583109 03/08/05 111,436 1 Elect Directors For For Mgmt 2 Declassify the Board of Trustees For For Mgmt 3 Ratify Auditors For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 05/04/05 - A SAFECO CORP. *SAFC* 786429100 03/07/05 64,493 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Amend Omnibus Stock Plan For For Mgmt 05/05/05 - A KEYCORP *KEY* 493267108 03/08/05 231,632 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/05/05 - A MBIA INC. *MBI* 55262C100 03/11/05 78,398 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Remove Supermajority Vote Requirement For For Mgmt 5 Permit to Act by Written Consent For For Mgmt 6 Ratify Auditors For For Mgmt 05/05/05 - A PROVIDIAN FINANCIAL CORP. *PVN* 74406A102 03/07/05 148,021 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/06/05 - A ZIONS BANCORPORATION *ZION* 989701107 03/02/05 51,291 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For Against Mgmt The initiative cannot be supported due to the total level of potential dilution under all plans is above the allowable cap of 15%. 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Ratify Auditors For For Mgmt 5 Other Business For Against Mgmt Details of other business items not disclosed 05/10/05 - A JANUS CAPITAL GROUP INC. *JNS* 47102X105 03/16/05 116,341 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For Against Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 15%. 05/10/05 - A LOEWS CORP. *LTR* 540424108 03/14/05 98,174 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Stock Option Plan For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 5 Provide for Cumulative Voting Against Against ShrHoldr 6 Report on Political Contributions Against Against ShrHoldr 7 Support Legislation and Make Public Against Against ShrHoldr Statements on Environmental Tobacco Smoke 8 Apply Fire Safety Standards for Cigarettes Against Against ShrHoldr 05/11/05 - A CIT GROUP INC *CIT* 125581108 03/25/05 128,465 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Other Business For Against Mgmt Details of other business items not disclosed 05/11/05 - A PLUM CREEK TIMBER COMPANY, INC. *PCL* 729251108 03/24/05 112,303 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 4 Performance- Based/Indexed Options Against Against ShrHoldr 5 Political Contributions/Activities Against Against ShrHoldr 05/11/05 - A SIMON PROPERTY GROUP, INC. *SPG* 828806109 03/14/05 117,009 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Greenhouse Gas Emissions and Against Against ShrHoldr Energy Efficiency 05/12/05 - A LINCOLN NATIONAL CORP. *LNC* 534187109 03/07/05 87,972 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 05/12/05 - A MGIC INVESTMENT CORP. *MTG* 552848103 03/11/05 53,861 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Ratify Auditors For For Mgmt 05/12/05 - A UNUMPROVIDENT CORPORATION *UNM* 91529Y106 03/14/05 158,873 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Require a Majority Vote for the Election of None Against ShrHoldr Directors 5 Establish Board of Directors to Enable Against Against ShrHoldr Direct Communication on Corporate Governance Matters 05/17/05 - A COMERICA INC. *CMA* 200340107 03/18/05 72,990 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/17/05 - A JPMORGAN CHASE & CO. *JPM* 46625H100 03/22/05 1,642,303 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For Against Mgmt The initiative cannot be supported due to the trend of recent option grants and the total level of potential dilution under all plans is above the allowable cap of 15%. 4 Establish Term Limits for Directors Against Against ShrHoldr 5 Separate Chairman and CEO Positions Against Against ShrHoldr 6 Limit Executive Compensation Against Against ShrHoldr 7 Adopt Executive Benefit Policy Against Against ShrHoldr 05/17/05 - A PRINCIPAL FINANCIAL GROUP, INC. *PFG* 74251V102 03/18/05 131,444 1 Elect Directors For For Mgmt 2 Approve Non-Employee Director Omnibus Stock For For Mgmt Plan 3 Ratify Auditors For For Mgmt 4 Approve Omnibus Stock Plan For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 05/17/05 - A THE ALLSTATE CORP. *ALL* 020002101 03/18/05 295,151 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Provide for Cumulative Voting Against Against ShrHoldr 05/18/05 - A PROLOGIS *PLD* 743410102 03/21/05 91,780 1 Elect Directors For For Mgmt 2 Declassify the Board of Trustees For For Mgmt 3 Ratify Auditors For For Mgmt 4 Other Business For Against Mgmt Details of other business items not disclosed 05/18/05 - A THE HARTFORD FINANCIAL SERVICES 416515104 03/22/05 134,855 GROUP, INC. *HIG* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 05/19/05 - A MARSH & MCLENNAN COMPANIES, INC. 571748102 03/21/05 264,104 *MMC* 1 Elect Directors For Split Mgmt 1.1 Elect Director Michael G. Cherkasky --- For 1.2 Elect Director Stephen R. Hardis --- Withhold WITHHOLD votes from Stephen R. Hardis for sitting on more than six boards. 1.3 Elect Director The Rt. Hon. Lord Lang of Monkton, DL --- For 1.4 Elect Director Morton O. Schapiro --- For 1.5 Elect Director Adele Simmons --- For 2 Ratify Auditors For For Mgmt 3 Approve Option Exchange Program For Against Mgmt SSGA does not support proposals that seek to approve the reprcing of options. 4 Limit Executive Compensation Against Against ShrHoldr 5 Request That the Board of Directors Adopt Against For ShrHoldr an Executive Compensation Policy That All Future Stock Option Grants to Senior Executives Shall be Performance-Based SSGA supports performance-based compensation. 6 Require a Majority Vote for the Election of Against Against ShrHoldr Directors
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 16 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 FINANCIAL SELECT SECTOR SPDR FUND - J917
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 05/19/05 - A REGIONS FINANCIAL CORP. *RF* 7591EP100 03/24/05 281,955 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/19/05 - A SLM CORP. *SLM* 78442P106 03/21/05 215,112 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/19/05 - A THE CHARLES SCHWAB CORP. *SCH* 808513105 03/21/05 673,713 1 Elect Directors For Split Mgmt 1.1 Elect Director Frank C. Herringer --- For 1.2 Elect Director Stephen T. McLin --- Withhold WITHHOLD votes from Stephen T. McLin for standing as an affiliated outsider on the Audit and Nominating committees. 1.3 Elect Director Charles R. Schwab --- For 1.4 Elect Director Roger O. Walther --- For 1.5 Elect Director Robert N. Wilson --- For 2 Amend Omnibus Stock Plan For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Declassify the Board of Directors Against For ShrHoldr Classified boards serve to entrench management and discourage bidders by preventing replacement of the board in one year. In addition, shareholders are prevented from removing board members who are not acting in the best interest of shareholders until their term is completed. 05/20/05 - A AON CORP. *AOC* 037389103 03/23/05 147,911 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/24/05 - A EQUITY OFFICE PROPERTIES TRUST *EOP* 294741103 03/17/05 178,479 1 Elect Directors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 17 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 FINANCIAL SELECT SECTOR SPDR FUND - J917
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 2 Ratify Auditors For For Mgmt 05/26/05 - A ACE LTD. *ACE* G0070K103 04/08/05 199,984 MEETING FOR HOLDERS OF ADRS 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/26/05 - A E*TRADE FINANCIAL CORP. *ET* 269246104 04/04/05 247,486 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 15%. 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Ratify Auditors For For Mgmt 05/26/05 - A EQUITY RESIDENTIAL *EQR* 29476L107 03/31/05 183,838 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 06/07/05 - A PRUDENTIAL FINANCIAL INC *PRU* 744320102 04/11/05 371,081 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Approve Qualified Employee Stock Purchase For For Mgmt Plan 06/15/05 - A COUNTRYWIDE FINANCIAL CORP. *CFC* 222372104 04/20/05 428,993 1 Elect Directors For For Mgmt 2 Amend Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 18 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 ENERGY SELECT SECTOR SPDR FUND - J916
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 09/13/04 - S VALERO ENERGY CORP. *VLO* 91913Y100 07/27/04 230,088 1 Increase Authorized Common Stock For For Mgmt 11/18/04 - A EL PASO CORP *EP* 28336L109 09/20/04 1,236,925 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against Against ShrHoldr 4 Limit Executive Compensation Against Against ShrHoldr 01/27/05 - A ASHLAND INC. *ASH* 044204105 11/22/04 368,541 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 03/24/05 - A BJ SERVICES COMPANY *BJS* 055482103 02/07/05 607,248 1 Elect Directors For For Mgmt 04/13/05 - A SCHLUMBERGER LTD. *SLB* 806857108 03/02/05 1,065,168 MEETING FOR HOLDERS OF ADR'S 1 Elect Directors For Split Mgmt 1.1 Elect Director J. Deutch --- Withhold 1.2 Elect Director J.S. Gorelick --- For 1.3 Elect Director A. Gould --- For 1.4 Elect Director T. Isaac --- For 1.5 Elect Director A. Lajous --- For 1.6 Elect Director A. Levy-Lang --- For 1.7 Elect Director M.E. Marks --- For 1.8 Elect Director D. Primat --- For 1.9 Elect Director T.I. Sandvold --- For 1.10 Elect Director N. Seydoux --- For 1.11 Elect Director L.G. Stuntz --- For 1.12 Elect Director R. Talwar --- For 2 ADOPTION AND APPROVAL OF FINANCIALS AND For For Mgmt DIVIDENDS 3 ADOPTION OF MANDATORY AMENDMENTS TO THE For For Mgmt ARTICLES OF INCORPORATION 4 ADOPTION OF VOLUNTARY AMENDMENTS TO THE For For Mgmt ARTICLES OF INCORPORATION 5 APPROVAL OF ADOPTION OF THE SCHLUMBERGER For For Mgmt 2005 OPTION PLAN 6 APPROVAL OF ADOPTION OF AN AMENDMENT TO THE For For Mgmt SCHLUMBERGER DISCOUNTED
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 1 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 ENERGY SELECT SECTOR SPDR FUND - J916
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ STOCK PURCHASE PLAN 7 APPROVAL OF INDEPENDENT REGISTERED PUBLIC For For Mgmt ACCOUNTING FIRM 04/22/05 - A ROWAN COMPANIES, INC. *RDC* 779382100 02/28/05 998,984 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 04/27/05 - A BURLINGTON RESOURCES INC. *BR* 122014103 02/28/05 1,425,155 1 Elect Directors For Split Mgmt 1.1 Elect Director B.T. Alexander --- For 1.2 Elect Director R.V. Anderson --- For 1.3 Elect Director L.I. Grant --- For 1.4 Elect Director R.J. Harding --- For 1.5 Elect Director J.T. LaMacchia --- For 1.6 Elect Director R.L. Limbacher --- For 1.7 Elect Director J.F. McDonald --- For 1.8 Elect Director K.W. Orce --- Withhold WITHHOLD votes from K.W. Orce for standing as an affiliated outsider on the Nominating Committee. 1.9 Elect Director D.M. Roberts --- For 1.10 Elect Director J.A. Runde --- For 1.11 Elect Director J.F. Schwarz --- For 1.12 Elect Director W. Scott, Jr. --- For 1.13 Elect Director B.S. Shackouls --- For 1.14 Elect Director S.J. Shapiro --- For 1.15 Elect Director W.E. Wade, Jr --- For 2 Ratify Auditors For For Mgmt 04/27/05 - A CHEVRON CORP *CVX* 166764100 03/01/05 5,293,682 1 Elect Directors For Split Mgmt 1.1 Elect Director Samuel H. Armacost --- For 1.2 Elect Director Robert E. Denham --- Withhold Robert E. Denham is an affiliated outsider on the audit committee. 1.3 Elect Director Robert J. Eaton --- For 1.4 Elect Director Sam Ginn --- For 1.5 Elect Director Carla Anderson Hills --- For
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 2 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 ENERGY SELECT SECTOR SPDR FUND - J916
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 1.6 Elect Director Franklyn G. Jenifer --- For 1.7 Elect Director Sam Nunn --- For 1.8 Elect Director David J. O'Reilly --- For 1.9 Elect Director Peter J. Robertson --- For 1.10 Elect Director Charles R. Shoemate --- For 1.11 Elect Director Ronald D. Sugar --- For 1.12 Elect Director Carl Ware --- For 2 Ratify Auditors For For Mgmt 3 Limit Executive Compensation Against Against ShrHoldr 4 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 5 Expense Stock Options Against Against ShrHoldr 6 Eliminate Animal Testing Against Against ShrHoldr 7 Report on Drilling in Protected Areas Against Against ShrHoldr 8 Report on Remediation Programs in Ecuador Against Against ShrHoldr 04/27/05 - A MARATHON OIL CORP *MRO* 565849106 02/28/05 1,312,041 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors Against Against ShrHoldr 4 Amend Governance Documents Regarding Against Against ShrHoldr Director Nominees by Affirmative Votes 04/28/05 - A BAKER HUGHES INCORPORATED *BHI* 057224107 02/25/05 1,261,323 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Act on Shareholder Resolutions that Receive Against For ShrHoldr Majority Support The company's Governance Committee evaluates shareholder proposals (which may include direct communication with the shareholder proponent) and makes recommendations, as appropriate, to the board. However, the company's current process does not mandate direct communication between the board and the shareholder proponent. Although the company has recently acted on a majority-supported shareholder proposal to declassify the board, the company has ignored this proposal for the last five years. In light of a majority-supported shareholder proposal which has been ignored by management, it is best practice to ensure direct communication with
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 3 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 ENERGY SELECT SECTOR SPDR FUND - J916
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ the respective shareholder proponent(s). 04/28/05 - A NOBLE CORP *NE* G65422100 03/03/05 729,640 MEETING FOR HOLDERS OF ADR'S 1 Elect Directors For For Mgmt 2 APPROVAL OF ADOPTION OF SPECIAL RESOLUTION For For Mgmt OF MEMBERS TO AMEND ARTICLES OF ASSOCIATION TO INCREASE DIRECTOR RETIREMENT AGE. 3 APPROVAL OF THE PROPOSAL REGARDING THE For For Mgmt AMENDED AND RESTATED NOBLE CORPORATION 1992 NONQUALIFIED STOCK OPTION PLAN FOR NON-EMPLOYEE DIRECTORS. 4 APPROVAL OF THE PROPOSAL TO AMEND THE NOBLE For For Mgmt CORPORATION EQUITY COMPENSATION PLAN FOR NON-EMPLOYEE DIRECTORS. 5 Ratify Auditors For For Mgmt 04/28/05 - A VALERO ENERGY CORP. *VLO* 91913Y100 03/01/05 602,346 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 05/03/05 - A EOG RESOURCES, INC. *EOG* 26875P101 03/07/05 1,229,430 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 05/04/05 - A AMERADA HESS CORP. *AHC* 023551104 03/14/05 431,155 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/05/05 - A APACHE CORP. *APA* 037411105 03/16/05 1,012,791 1 Elect Directors For For Mgmt 2 Approve Stock Option Plan For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 5 Prohibit Auditor from Providing Non-Audit Against Against ShrHoldr Services
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 05/05/05 - A CONOCOPHILLIPS *COP* 20825C104 03/10/05 1,689,076 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Limit Executive Compensation Against Against ShrHoldr 4 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 05/05/05 - A SUNOCO, INC. *SUN* 86764P109 02/10/05 344,192 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/06/05 - A OCCIDENTAL PETROLEUM CORP. *OXY* 674599105 03/03/05 1,287,236 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Proposal Regarding Board Sponsored Proposals Against Against ShrHoldr 5 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 05/10/05 - A KINDER MORGAN, INC. *KMI* 49455P101 03/10/05 269,661 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Approve Non-Employee Director Omnibus Stock For For Mgmt Plan 5 Ratify Auditors For For Mgmt 05/12/05 - A ANADARKO PETROLEUM CORP. *APC* 032511107 03/14/05 813,631 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Report on Political Contributions Against Against ShrHoldr 05/12/05 - A TRANSOCEAN INC. G90078109 03/17/05 1,171,281 MEETING FOR HOLDERS OF ADR'S 1 Elect Directors For For Mgmt 2 APPROVAL OF THE AMENDMENT OF OUR EMPLOYEE For For Mgmt STOCK PURCHASE PLAN TO INCREASE THE NUMBER OF ORDINARY SHARES RESERVED FOR ISSUANCE UNDER THE PLAN
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ FROM 2,500,000 TO 3,500,000. 3 APPROVAL OF THE APPOINTMENT OF ERNST & For For Mgmt YOUNG LLP TO SERVE AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM. 05/17/05 - A XTO ENERGY INC *XTO* 98385X106 03/31/05 770,633 1 Elect Directors For For Mgmt 05/18/05 - A HALLIBURTON CO. *HAL* 406216101 03/21/05 1,813,491 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 4 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 05/19/05 - A THE WILLIAMS COMPANIES, INC. *WMB* 969457100 03/28/05 1,421,647 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 05/23/05 - A UNOCAL CORP. *UCL* 915289102 04/01/05 1,014,363 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Separate Chairman and CEO Positions Against Against ShrHoldr 05/25/05 - A EXXON MOBIL CORP. *XOM* 30231G102 04/06/05 7,601,274 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Political Contributions/Activities Against Against ShrHoldr 4 Review/Limit Executive Compensation Against Against ShrHoldr 5 Nominate Independent Directors with Against Against ShrHoldr Industry Experience 6 Report on Payments to Indonesian Military Against Against ShrHoldr 7 Adopt Policy Prohibiting Discrimination Against Against ShrHoldr based on Sexual Orientation 8 Report on Potential Damage of Drilling in Against Against ShrHoldr Protected Regions 9 Disclose Information Supporting the Company Against Against ShrHoldr Position on Climate Change
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 10 Report on Company Policies for Compliance Against Against ShrHoldr with the Kyoto Protocol 05/26/05 - A EL PASO CORP *EP* 28336L109 03/28/05 1,593,225 1 Elect Directors For Withhold Mgmt 2 Approve Non-Employee Director Omnibus Stock For For Mgmt Plan 3 Approve Omnibus Stock Plan For For Mgmt 4 Ratify Auditors For Against Mgmt Routine proposal seeking ratification of the company's auditors. 06/07/05 - A KERR-MCGEE CORP. *KMG* 492386107 03/11/05 728,967 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Increase Authorized Common Stock For For Mgmt 5 Establish Office of the Board of Directors Against Against ShrHoldr 06/07/05 - A NABORS INDUSTRIES, LTD. *NBR* G6359F103 04/08/05 688,416 MEETING FOR HOLDERS OF ADR'S 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 AMENDMENT TO AMENDED AND RESTATED BYE-LAWS For For Mgmt TO REQUIRE SHAREHOLDER APPROVAL OF CERTAIN DISPOSITIONS OF COMPANY S ASSETS. 4 AMENDMENT TO 2003 EMPLOYEE STOCK PLAN TO For For Mgmt MAKE NONEMPLOYEE DIRECTORS ELIGIBLE PARTICIPANTS. 5 SHAREHOLDER PROPOSAL TO REQUIRE THE COMPANY Against For ShrHoldr TO ADOPT A POLICY THAT A SIGNIFICANT AMOUNT OF FUTURE STOCK GRANTS TO SENIOR EXECUTIVES BE PERFORMANCE BASED. SSGA supports performance based options. 06/08/05 - A DEVON ENERGY CORP. *DVN* 25179M103 04/11/05 1,523,574 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 4 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 06/29/05 - S ASHLAND INC. *ASH* 044204105 05/12/05 572,581 1 Approve Transfer of Interest in Joint For For Mgmt Venture
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 07/01/04 - A BED BATH & BEYOND INC. *BBBY* 075896100 05/05/04 75,689 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Glass Ceiling Against Against ShrHoldr 5 Adopt Retention Ratio for Executives Against Against ShrHoldr 07/15/04 - A CENTEX CORP. *CTX* 152312104 05/27/04 34,232 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 09/20/04 - A NIKE, INC. *NKE* 654106103 07/26/04 57,011 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 09/29/04 - A DARDEN RESTAURANTS, INC. *DRI* 237194105 07/26/04 34,800 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt 11/03/04 - A COACH, INC. *COH* 189754104 09/15/04 52,084 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 11/08/04 - A MEREDITH CORP. *MDP* 589433101 09/09/04 13,778 1 Elect Directors For Split Mgmt 1.1 Elect Director Mary Sue Coleman --- For 1.2 Elect Director D Mell Meredith Frazier --- Withhold WITHHOLD votes for standing as an affiliated outsider on the Compensation and Nominating committees. 1.3 Elect Director Joel W. Johnson --- For 1.4 Elect Director Stephen M. Lacy --- For 2 Approve Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 15%.
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 12/16/04 - A AUTOZONE, INC. *AZO* 053332102 10/21/04 21,738 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 01/20/05 - A FAMILY DOLLAR STORES, INC. *FDO* 307000109 11/24/04 51,604 1 Elect Directors For Split Mgmt 1.1 Elect Director Mark R. Bernstein --- Withhold Mark R. Bernstein is an affiliated director on the compensation and nominating committees. 1.2 Elect Director Sharon Allred Decker --- For 1.3 Elect Director Edward C. Dolby --- For 1.4 Elect Director Glenn A. Eisenberg --- For 1.5 Elect Director Howard R. Levine --- For 1.6 Elect Director George R. Mahoney, Jr. --- For 1.7 Elect Director James G. Martin --- For 2 Amend Stock Option Plan For For Mgmt 3 Ratify Auditors For For Mgmt 01/26/05 - A JOHNSON CONTROLS, INC. *JCI* 478366107 11/18/04 58,351 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 02/09/05 - A STARBUCKS CORP. *SBUX* 855244109 12/02/04 143,591 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 15%. 3 Ratify Auditors For For Mgmt 4 Commit to Free Trade certified Coffee Against Against ShrHoldr 02/11/05 - A THE WALT DISNEY COMPANY *DIS* 254687106 12/17/04 714,238 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Prohibit Greenmail Payments Against For ShrHoldr SSGA supports proposals that seek to repeal or
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ prohibit greenmail provisions. 5 Report on Vendor Standards in China Against Against ShrHoldr 03/01/05 - A INTERNATIONAL GAME TECHNOLOGY *IGT* 459902102 01/06/05 106,291 1 Elect Directors For Split Mgmt 1.1 Elect Director Neil Barsky --- For 1.2 Elect Director Robert A. Bittman --- For 1.3 Elect Director Richard R. Burt --- For 1.4 Elect Director Leslie S. Heisz --- For 1.5 Elect Director Robert A. Mathewson --- For 1.6 Elect Director Thomas J. Matthews --- For 1.7 Elect Director Robert Miller --- Withhold WITHHOLD votes for standing as an affiliated outsider on the Compensation Committee. 1.8 Elect Director Frederick B. Rentschler --- For 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 03/11/05 - S HARRAH'S ENTERTAINMENT, INC. *HET* 413619107 01/18/05 35,126 1 Issue Shares in Connection with an For For Mgmt Acquisition 2 Increase Authorized Common Stock For For Mgmt 03/24/05 - S SEARS, ROEBUCK & CO. 812387108 01/26/05 67,833 1 Approve Merger Agreement For For Mgmt 04/07/05 - A KB HOME *KBH* 48666K109 02/14/05 11,317 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Ratify Auditors For For Mgmt 04/13/05 - A CARNIVAL CORP. *CCL* 143658300 02/14/05 155,294 MEETING FOR HOLDERS OF ADR'S 1 Elect Directors For For Mgmt 2 TO APPROVE THE AMENDED AND RESTATED For For Mgmt CARNIVAL CORPORATION 2001 OUTSIDE DIRECTOR STOCK PLAN. 3 TO APPROVE THE CARNIVAL PLC For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 2005 EMPLOYEE SHARE PLAN. 4 TO APPROVE THE CARNIVAL PLC 2005 EMPLOYEE For For Mgmt STOCK PURCHASE PLAN. 5 Ratify Auditors For For Mgmt 6 TO AUTHORIZE THE AUDIT COMMITTEE OF For For Mgmt CARNIVAL PLC TO AGREE THE REMUNERATION OF THE INDEPENDENT AUDITORS. 7 TO RECEIVE THE ACCOUNTS AND REPORTS FOR For For Mgmt CARNIVAL PLC FOR THE FINANCIAL YEAR ENDED NOVEMBER 30, 2004. 8 TO APPROVE THE DIRECTORS REMUNERATION For For Mgmt REPORT OF CARNIVAL PLC. 9 TO APPROVE LIMITS ON THE AUTHORITY TO ALLOT For For Mgmt SHARES BY CARNIVAL PLC. 10 TO APPROVE THE DISAPPLICATION OF For For Mgmt PRE-EMPTION RIGHTS FOR CARNIVAL PLC. 11 TO APPROVE A GENERAL AUTHORITY FOR CARNIVAL For For Mgmt PLC TO BUY BACK CARNIVAL PLC ORDINARY SHARES IN THE OPEN MARKET. 04/14/05 - A GANNETT CO., INC. *GCI* 364730101 03/04/05 60,591 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Performance-Based/Indexed Options Against For ShrHoldr SSGA supports performance-based compensation proposals. 4 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 04/18/05 - A DANA CORP. *DCN* 235811106 02/22/05 39,710 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/18/05 - A GENUINE PARTS CO. *GPC* 372460105 02/11/05 42,864 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/19/05 - A WHIRLPOOL CORP. *WHR* 963320106 02/28/05 16,326 1 Elect Directors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 4 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND - J915
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 2 Approve Non-Employee Director Stock Option For For Mgmt Plan 04/20/05 - A DOW JONES & CO., INC. *DJ* 260561105 02/25/05 21,790 1 Elect Directors For Split Mgmt 1.1 Elect Director Irvin O. Hockaday, Jr. --- For 1.2 Elect Director Vernon Jordan, Jr. --- Withhold WITHHOLD votes Vernon Jordan, Jr. for sitting on more than six boards. 1.3 Elect Director M. Peter McPherson --- For 1.4 Elect Director William C. Steere --- For 1.5 Elect Director Christopher Bancroft --- For 1.6 Elect Director Lewis B. Campbell --- For 1.7 Elect Director Michael B. Elefante --- For 1.8 Elect Director Leslie Hill --- For 1.9 Elect Director Peter R. Kann --- For 1.10 Elect Director Elizabeth Steele --- For 1.11 Elect Director Dieter Von Holtzbrinck --- For 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Amend Certificate to Reduce Automatic For Against Mgmt Conversion Threshold for Class B Common Stock Due to the fact that the proposal does not benefit "non-controlling shareholders", this proposal does not warrant support. 5 Amend Articles/Bylaws/Charter-Non-Routine For For Mgmt 6 Fix Number of Directors For For Mgmt 7 Separate Chairman and CEO Positions Against Against ShrHoldr 04/20/05 - A THE SHERWIN-WILLIAMS CO. *SHW* 824348106 02/28/05 34,675 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/22/05 - A SNAP-ON INCORPORATED *SNA* 833034101 02/22/05 15,137 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 5 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND - J915
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 04/26/05 - A CLEAR CHANNEL COMMUNICATIONS, INC. 184502102 03/11/05 166,260 *CCU* 1 Elect Directors For Split Mgmt 1.1 Elect Director Alan D. Feld --- For 1.2 Elect Director Perry J. Lewis --- For 1.3 Elect Director L. Lowry Mays --- For 1.4 Elect Director Mark P. Mays --- For 1.5 Elect Director Randall T. Mays --- For 1.6 Elect Director B.J. McCombs --- Withhold WITHHOLD votes from B.J. McCombs for standing as an affiliated outsider on the Compensation and Nominating committees. 1.7 Elect Director Phyllis B. Riggins --- For 1.8 Elect Director Theodore H. Strauss --- For 1.9 Elect Director J.C. Watts --- For 1.10 Elect Director John H. Williams --- For 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 04/26/05 - A FORTUNE BRANDS, INC. *FO* 349631101 02/25/05 38,400 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Non-Employee Director Stock Option For For Mgmt Plan 04/26/05 - A KNIGHT-RIDDER, INC. *KRI* 499040103 03/07/05 18,289 1 Elect Directors For Split Mgmt 1.1 Elect Director Mark A. Ernst --- Withhold Mark A. Ernst is an affiliated outisder on that audit committee. 1.2 Elect Director Vasant Prabhu --- Withhold Vasant Prabhu is an affiliated outsider on the audit and compensation committee. 1.3 Elect Director P. Anthony Ridder --- For 1.4 Elect Director John E. Warnock --- For 2 Ratify Auditors For For Mgmt 3 Amend Executive Incentive Bonus Plan For For Mgmt 4 Approve Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 6 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND - J915
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ potential dilution under all plans is above the allowable cap of 15%. 5 Amend Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 15%. 6 Separate Chairman and CEO Positions Against Against ShrHoldr 04/26/05 - A THE BLACK & DECKER CORP. *BDK* 091797100 02/22/05 21,360 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Restricted Stock Plan For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 5 Performance-Based/Indexed Options Against Against ShrHoldr 6 Limit Executive Compensation Against Against ShrHoldr 04/26/05 - A THE GOODYEAR TIRE & RUBBER CO. *GT* 382550101 03/04/05 41,609 1 Elect Directors For For Mgmt 2 Amend Code of Regulations For For Mgmt 3 Declassify the Board of Directors None For Mgmt 4 Amend Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 15%. 5 Ratify Auditors For For Mgmt 6 Review/Limit Executive Compensation Against Against ShrHoldr 04/26/05 - A THE NEW YORK TIMES CO. *NYT* 650111107 02/28/05 35,549 1 Elect Directors For For Mgmt 2 Amend Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 04/26/05 - A VF CORP. *VFC* 918204108 03/08/05 27,844 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/27/05 - A KOHL'S CORP. *KSS* 500255104 03/02/05 84,106 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors Against Against ShrHoldr 4 Submit Severance Agreement Against Against ShrHoldr
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 7 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND - J915
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ (Change-in-Control) to Shareholder Vote 04/27/05 - A THE MCGRAW-HILL COMPANIES, INC. *MHP* 580645109 03/08/05 47,568 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Ratify Auditors For For Mgmt 5 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote Because shareholder rights plans greatly alter the balance of power between shareholders and management, shareholders should be allowed to make their own evaluation of such plans. 04/27/05 - A THE STANLEY WORKS *SWK* 854616109 02/28/05 20,147 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors Against Against ShrHoldr 4 Prohibit Auditor from Providing Non-Audit Against Against ShrHoldr Services 04/28/05 - A HARRAH'S ENTERTAINMENT, INC. *HET* 413619107 02/28/05 27,482 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/28/05 - A WENDY'S INTERNATIONAL, INC. *WEN* 950590109 03/07/05 27,013 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Impact of Genetically Engineered Against Against ShrHoldr Products 4 Report on Feasibility of Improving Animal Against Against ShrHoldr Welfare Standards 04/30/05 - A HARLEY-DAVIDSON, INC. *HDI* 412822108 03/09/05 85,153 1 Elect Directors For Split Mgmt 1.1 Elect Director George H. Conrades --- Withhold George H. Conrades is an affiliated outsider on the compensation and nominating committees. 1.2 Elect Director Sara L. Levinson --- For
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 8 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND - J915
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 1.3 Elect Director George L. Miles, Jr. --- For 2 Approve/Amend Employee Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/03/05 - A COOPER TIRE & RUBBER CO. *CTB* 216831107 03/07/05 17,664 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Prepare Sustainability Report Against Against ShrHoldr 05/03/05 - A REEBOK INTERNATIONAL LTD. *RBK* 758110100 02/22/05 15,408 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/04/05 - A BRUNSWICK CORP. *BC* 117043109 03/03/05 23,592 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/04/05 - A LEGGETT & PLATT, INC. *LEG* 524660107 02/28/05 46,769 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 05/05/05 - A STARWOOD HOTELS & RESORTS WORLDWIDE, 85590A203 03/17/05 56,850 INC. *HOT* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Executive Incentive Bonus Plan For For Mgmt 4 Provide for Confidential Voting Against For ShrHoldr SSGA supports confidential voting. 5 Expense Stock Options Against Against ShrHoldr 05/06/05 - A MARRIOTT INTERNATIONAL INC. (NEW) 571903202 03/15/05 61,267 *MAR* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 15%. 4 Declassify the Board of Directors Against Against ShrHoldr
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 9 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND - J915
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 5 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 05/09/05 - A OFFICEMAX INC *BCC* 67622P101 03/21/05 23,372 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors Against Against ShrHoldr 05/10/05 - A THE GAP, INC. *GPS* 364760108 03/14/05 254,159 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Executive Incentive Bonus Plan For For Mgmt 05/11/05 - A AUTONATION, INC. *AN* 05329W102 03/25/05 68,075 1 Elect Directors For Split Mgmt 1.1 Elect Director Mike Jackson --- For 1.2 Elect Director Robert J. Brown --- For 1.3 Elect Director J.P. Bryan --- For 1.4 Elect Director Rick L. Burdick --- Withhold WITHHOLD votes from Rick L. Burdick for standing as an affiliated outsider on the Nominating Committee. 1.5 Elect Director William C. Crowley --- For 1.6 Elect Director Edward S. Lampert --- For 1.7 Elect Director Irene B. Rosenfeld --- For 2 Ratify Auditors For For Mgmt 05/11/05 - A EASTMAN KODAK CO. *EK* 277461109 03/15/05 78,538 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 5 Declassify the Board of Directors For For Mgmt 6 Amend Articles For For Mgmt 7 Amend Articles For For Mgmt 05/11/05 - A MCDONALD'S CORP. *MCD* 580135101 03/14/05 364,465 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Genetically Modified Organisms Against Against ShrHoldr
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 10 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND - J915
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 05/11/05 - A NEWELL RUBBERMAID INC. *NWL* 651229106 03/15/05 75,326 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors Against Against ShrHoldr 05/11/05 - A UNIVISION COMMUNICATIONS INC. *UVN* 914906102 03/14/05 93,621 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Adopt Recapitalization Plan Regarding Votes Against For ShrHoldr Per Share SSGA does not support dual-class structures with unequal voting rights. 05/11/05 - A VISTEON CORPORATION *VC* 92839U107 03/15/05 36,836 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors Against Against ShrHoldr 05/12/05 - A FORD MOTOR COMPANY *F* 345370860 03/16/05 501,532 1 Elect Directors For Split Mgmt 1.1 Elect Director John R.H. Bond --- Withhold Vote FOR the directors with the exception of affiliated outsiders Robert E. Rubin and John R.H. Bond, from whom we recommend shareholders WITHHOLD votes for standing as affiliated outsiders on the Compensation and Nominating & Corporate Governance committees. 1.2 Elect Director Stephen G. Butler --- For 1.3 Elect Director Kimberly A. Casiano --- For 1.4 Elect Director Edsel B. Ford II --- For 1.5 Elect Director William Clay Ford, Jr. --- For 1.6 Elect Director Irvine O. Hockaday, Jr. --- For 1.7 Elect Director Marie-Josee Kravis --- For 1.8 Elect Director Richard A. Manoogian --- For 1.9 Elect Director Ellen R. Marram --- For 1.10 Elect Director Homer A. Neal --- For 1.11 Elect Director Jorma Ollila --- For 1.12 Elect Director James J. Padilla --- For
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 11 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND - J915
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 1.13 Elect Director Carl E. Reichardt --- For 1.14 Elect Director Robert E. Rubin --- Withhold 1.15 Elect Director John L. Thornton --- For 2 Ratify Auditors For For Mgmt 3 Increase Disclosure on Executive Against Against ShrHoldr Compensation 4 Report on Lobbying Efforts - CAFE Standards Against Against ShrHoldr 5 Prohibit Awards to Executives Against Against ShrHoldr 6 Link Executive Compensation to Greenhouse Against Against ShrHoldr Gas Reduction 7 Adopt Recapitalization Plan Against For ShrHoldr SSGA does not support dual-class with unequal voting rights. 8 Establish Other Board Committee Against Against ShrHoldr 05/12/05 - A MAYTAG CORP. *MYG* 578592107 03/14/05 22,837 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Declassify the Board of Directors Against For ShrHoldr Classified boards serve to entrench management and discourage bidders by preventing replacement of the board in one year. In addition, shareholders are prevented from removing board members who are not acting in the best interest of shareholders until their term is completed. 5 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote Because shareholder rights plans greatly alter the balance of power between shareholders and management, shareholders should be allowed to make their own evaluation of such plans. 6 Report on Outsourcing Against Against ShrHoldr 7 Adopt ILO-based Code of Conduct Against Against ShrHoldr 05/12/05 - A PULTE HOMES INC. *PHM* 745867101 03/22/05 35,071 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 5 Require a Majority Vote for the Election of Against Against ShrHoldr Directors
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 12 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND - J915
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 05/13/05 - A OFFICE DEPOT, INC. *ODP* 676220106 03/10/05 93,066 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Review/Limit Executive Compensation Against Against ShrHoldr 4 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 05/16/05 - A LIMITED BRANDS *LTD* 532716107 03/31/05 115,176 1 Elect Directors For For Mgmt 05/17/05 - A BIG LOTS INC. *BLI* 089302103 03/25/05 34,161 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 05/18/05 - A JONES APPAREL GROUP, INC. *JNY* 480074103 03/18/05 33,439 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 05/18/05 - A TARGET CORPORATION *TGT* 87612E106 03/21/05 224,310 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/18/05 - A TRIBUNE CO. *TRB* 896047107 03/23/05 84,244 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/19/05 - A HASBRO, INC. *HAS* 418056107 03/31/05 50,309 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Adopt ILO Based Code of Conduct Against Against ShrHoldr 05/19/05 - A LIZ CLAIBORNE, INC. *LIZ* 539320101 03/21/05 27,163 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Approve Omnibus Stock Plan For Against Mgmt The initiative cannot be supported due to the trend of recent option grants and the total level of potential dilution under all plans is above the allowable cap of
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 13 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND - J915
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 15%. 05/19/05 - A MATTEL, INC. *MAT* 577081102 03/23/05 117,716 1 Elect Directors For For Mgmt 2 Ratify Auditor For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 5 Workplace Code of Conduct Against Against ShrHoldr 05/19/05 - A RADIOSHACK CORP. *RSH* 750438103 03/22/05 43,667 1 Elect Directors For For Mgmt 05/19/05 - A TIFFANY & CO. *TIF* 886547108 03/24/05 43,834 1 Elect Directors For Split Mgmt 1.1 Elect Director Michael J. Kowalski --- For 1.2 Elect Director Rose Marie Bravo --- For 1.3 Elect Director William R. Chaney --- For 1.4 Elect Director Samuel L. Hayes III --- For 1.5 Elect Director Abby F. Kohnstamm --- Withhold Abby F. Kohnstamm is an affiliated outsider on the compensation and nominating committees. 1.6 Elect Director Charles K. Marquis --- For 1.7 Elect Director J. Thomas Presby --- For 1.8 Elect Director James E. Quinn --- For 1.9 Elect Director William A. Shutzer --- For 2 Ratify Auditor For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Approve Omnibus Stock Plan For For Mgmt 05/19/05 - A YUM BRANDS, INC. *YUM* 988498101 03/21/05 73,372 1 Declassify the Board of Directors For For Mgmt 2 Elect Directors For Split Mgmt 2.1 Elect Director David W. Dorman --- Withhold David W. Dorman is an affiliated outsider on the compensation committee. 2.2 Elect Director Massimo Ferragamo --- For 2.3 Elect Director J. David Grissom --- For
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 14 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND - J915
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 2.4 Elect Director Bonnie Hill --- For 2.5 Elect Director Robert Holland, Jr. --- For 2.6 Elect Director Kenneth G. Langone --- For 2.7 Elect Director Jonathan S. Linen --- Withhold Jonathan S. Linen is an affiliated outsider on the audit committee. 2.8 Elect Director David C. Novak --- For 2.9 Elect Director Andrall E. Pearson --- For 2.10 Elect Director Thomas M. Ryan --- Withhold Thomas M. Ryan is an affiliated outsider on the compensation and nominating committees. 2.11 Elect Director Jackie Trujillo --- For 2.12 Elect Director Robert J. Ulrich --- Withhold Robert J. Ulrich is an affiliated outsider on the compensation committee. 3 Elect Directors David W. Dorman, Massimo For Against Mgmt Ferragamo, Thomas M. Ryan, Robert Ulrich and Jonathan Linen 4 Ratify Auditors For For Mgmt 5 Sustainability Report Against Against ShrHoldr 6 Prepare a Diversity Report Against Against ShrHoldr 7 Adopt MacBride Principles Against Against ShrHoldr 8 Report on Genetically Modified Organisms Against Against ShrHoldr (GMO) 9 Report on Animal Welfare Standards Against Against ShrHoldr 05/20/05 - A J. C. PENNEY CO., INC (HLDG CO) *JCP* 708160106 03/21/05 71,551 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Declassify the Board of Directors Against For ShrHoldr Classified boards serve to entrench management and discourage bidders by preventing replacement of the board in one year. In addition, shareholders are prevented from removing board members who are not acting in the best interest of shareholders until their term is completed. 05/20/05 - A TIME WARNER INC *TWX* 887317105 03/24/05 1,385,377 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 15 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND - J915
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 3 Report on Pay Disparity Against Against ShrHoldr 05/21/05 - A DILLARD'S, INC. *DDS* 254067101 03/31/05 21,322 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Restricted Stock Plan For Against Mgmt The initiative cannot be supported as the total dilution under all plans is greater than the allowable cap of 15%. 4 Approve Nonqualified Employee Stock For For Mgmt Purchase Plan 5 Approve Non-Employee Director Restricted For Against Mgmt Stock Plan The initiative cannot be supported as the total dilution under all plans is greater than the allowable cap of 15% and other terms of the plan. 6 ILO Standards Against Against ShrHoldr 05/24/05 - A DOLLAR GENERAL CORP. *DG* 256669102 03/21/05 82,101 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/24/05 - A NORDSTROM, INC. *JWN* 655664100 03/16/05 38,395 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/24/05 - A OMNICOM GROUP INC. *OMC* 681919106 04/08/05 54,479 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/26/05 - A HILTON HOTELS CORP. *HLT* 432848109 03/28/05 115,992 1 Elect Directors For Split Mgmt 1.1 Elect Director Stephen F. Bollenbach --- For 1.2 Elect Director Barbara Bell Coleman --- For 1.3 Elect Director Benjamin V. Lambert --- Withhold Benjamin V. Lambert is an affiliated outisider on the nominating committee.
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 16 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND - J915
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 1.4 Elect Director John L. Notter --- For 1.5 Elect Director Peter V. Ueberroth --- For 2 Ratify Auditors For For Mgmt 3 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 4 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 05/26/05 - A HOME DEPOT, INC. (THE) *HD* 437076102 03/28/05 661,922 1 Elect Directors For Split Mgmt 1.1 Elect Director Gregory D. Brenneman --- For 1.2 Elect Director Richard H. Brown --- For 1.3 Elect Director John L. Clendenin --- For 1.4 Elect Director Berry R. Cox --- For 1.5 Elect Director Claudio X. Gonzalez --- Withhold WITHHOLD votes from Claudio X. Gonzalez for sitting on more than four boards. 1.6 Elect Director Milledge A. Hart, III --- For 1.7 Elect Director Bonnie G. Hill --- For 1.8 Elect Director Laban P. Jackson, Jr. --- For 1.9 Elect Director Lawrence R. Johnston --- For 1.10 Elect Director Kenneth G. Langone --- For 1.11 Elect Director Robert L. Nardelli --- For 1.12 Elect Director Thomas J. Ridge --- For 2 Ratify Auditors For For Mgmt 3 Amend Nomination Procedures for the Board For Against Mgmt The proposed time frame for director nominations is not appropriate. A reasonable time frame for submittals would be no later than 60 days prior to the meeting with a submittal window of at least 60 days. 4 Approve Omnibus Stock Plan For For Mgmt 5 Prepare Diversity Report Against Against ShrHoldr 6 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 7 Limit Executive Compensation Against Against ShrHoldr 8 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 9 Performance- Based/Indexed Options Against Against ShrHoldr 10 Performance- Based/Indexed Options Against For ShrHoldr
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 17 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND - J915
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ SSGA supports performance-based compensation of this type. 11 Affirm Political Nonpartisanship Against Against ShrHoldr 05/27/05 - A LOWE'S COMPANIES, INC. *LOW* 548661107 04/01/05 232,977 1 Elect Directors For For Mgmt 2 Amend Non-Employee Director Stock Option For For Mgmt Plan 3 Ratify Auditors For For Mgmt 06/01/05 - A COMCAST CORP. *CMCSA* 20030N101 03/24/05 666,771 1 Elect Directors For Split Mgmt 1.1 Elect Director S. Decker Anstrom --- Withhold S. Decker Anstrom is an affiliated outsider on the compensation and nominating committees. 1.2 Elect Director Kenneth J. Bacon --- For 1.3 Elect Director Sheldon M. Bonovitz --- For 1.4 Elect Director Edward D. Breen --- For 1.5 Elect Director Julian A. Brodsky --- For 1.6 Elect Director Joseph L. Castle, II --- For 1.7 Elect Director Joseph J. Collins --- For 1.8 Elect Director J. Michael Cook --- For 1.9 Elect Director Brian L. Roberts --- For 1.10 Elect Director Ralph J. Roberts --- For 1.11 Elect Director Dr. Judith Rodin --- For 1.12 Elect Director Michael I. Sovern --- For 2 Ratify Auditors For For Mgmt 3 Amend Restricted Stock Plan For For Mgmt 4 Report on Political Contributions Against Against ShrHoldr 5 Separate Chairman and CEO Positions Against Against ShrHoldr 6 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote Because shareholder rights plans greatly alter the balance of power between shareholders and management, shareholders should be allowed to make their own evaluation of such plans. 7 Approve Recapitalization Plan Against For ShrHoldr SSGA supports the request that the company take steps to develop a recapitalization plan whereby all of the company's outstanding stock would have one vote.
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 06/07/05 - A GENERAL MOTORS CORP. *GM* 370442105 04/08/05 165,160 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Prohibit Awards to Executives Against Against ShrHoldr 4 Provide for Cumulative Voting Against Against ShrHoldr 5 Report on Greenhouse Gas Emissions Against Against ShrHoldr 6 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 7 Adopt Simple Majority Vote Requirement for Against Against ShrHoldr All Issues 06/07/05 - A THE TJX COMPANIES, INC. *TJX* 872540109 04/18/05 128,234 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Adopt ILO-Based Code of Conduct Against Against ShrHoldr 5 Review Vendor Standards Against Against ShrHoldr 6 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 06/13/05 - A STAPLES, INC. *SPLS* 855030102 04/19/05 131,469 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote Because shareholder rights plans greatly alter the balance of power between shareholders and management, shareholders should be allowed to make their own evaluation of such plans. 06/21/05 - A CIRCUIT CITY STORES, INC. *CC* 172737108 04/25/05 52,309 1 Elect Directors For Split Mgmt 1.1 Elect Director Carolyn H. Byrd --- For 1.2 Elect Director Ursula O. Fairbairn --- Withhold Ursula O. Fairbairn is an affiliated outsider on the compensation and nominating committees. 1.3 Elect Director Alan Kane --- For 1.4 Elect Director J. Patrick Spainhour --- For 2 Amend Omnibus Stock Plan For For Mgmt 3 Approve Nonqualified Employee Stock For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ Purchase Plan 4 Ratify Auditors For For Mgmt 06/23/05 - A BEST BUY CO., INC. *BBY* 086516101 04/25/05 81,413 1 Elect Directors For Split Mgmt 1.1 Elect Director Ronald James --- Withhold Ronald James is an affiliated outsider on the nominating committee. 1.2 Elect Director Elliot S. Kaplan --- For 1.3 Elect Director Matthew H. Paull --- Withhold Matthew H. Paull is an affiliated outsider on the audit committee. 1.4 Elect Director Richard M. Schulze --- For 1.5 Elect Director Mary A. Tolan --- For 1.6 Elect Director Hatim A. Tyabji --- For 2 Ratify Auditors For For Mgmt 06/23/05 - A EBAY INC. *EBAY* 278642103 04/25/05 330,013 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Ratify Auditors For For Mgmt 5 Performance- Based/Indexed Options Against For ShrHoldr SSGA supports performance-based compensation. 6 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 06/23/05 - S TOYS 'R' US, INC. *TOY* 892335100 05/20/05 63,428 1 Approve Merger Agreement For For Mgmt 06/30/05 - A BED BATH & BEYOND INC. *BBBY* 075896100 05/05/05 85,091 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Adopt ILO-based Code of Conduct Against Against ShrHoldr 4 Review/Limit Executive Compensation Against Against ShrHoldr 5 Declassify the Board of Directors Against For ShrHoldr Classified boards serve to entrench management and discourage bidders by preventing replacement of the board in one year. In addition, shareholders are prevented from removing board members who are
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ prevented from removing board members who are not acting in the best interest of shareholders until their term is completed.
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 07/28/04 - S REYNOLDS AMERICAN INC *RAI* 76182K105 06/16/04 62,907 1 Approve Merger Agreement For For Mgmt 2 Adjourn Meeting For Against Mgmt In this case, shareholders already have enough information to make their vote decisions. Once their votes have been cast, there is no justification for spending more money to continue pressing shareholders for more votes. 09/08/04 - A H. J. HEINZ CO. *HNZ* 423074103 06/03/04 182,236 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 09/23/04 - A CONAGRA FOODS INC. *CAG* 205887102 07/26/04 316,894 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Limit Awards to Executives Against Against ShrHoldr 09/27/04 - A GENERAL MILLS, INC. *GIS* 370334104 07/29/04 220,907 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Establish Range For Board Size For For Mgmt 10/12/04 - A THE PROCTER & GAMBLE COMPANY *PG* 742718109 07/30/04 1,291,438 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Declassify the Board of Directors Against Against Mgmt 5 Implement/ Report on Animal Welfare Against Against ShrHoldr Standards 10/20/04 - A WINN-DIXIE STORES, INC. *WNDXQ* 974280109 08/20/04 279,849 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote Because shareholder rights plans greatly alter the balance of power between shareholders and management, shareholders should be allowed to make their own evaluation of such plans.
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 10/28/04 - A SARA LEE CORP. *SLE* 803111103 09/01/04 497,885 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Charitable Contributions Against Against ShrHoldr 11/04/04 - A ARCHER-DANIELS-MIDLAND COMPANY *ADM* 039483102 09/15/04 444,593 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Approve Employee Stock Purchase Plan For For Mgmt 4 Report on Genetically Engineered Products Against Against ShrHoldr 11/12/04 - A SYSCO CORPORATION *SYY* 871829107 09/14/04 386,220 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Stock Option Plan For For Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt 5 Report on Genetically Engineered Products Against Against ShrHoldr 11/17/04 - A THE CLOROX COMPANY *CLX* 189054109 09/20/04 141,678 1 Elect Directors For For Mgmt 2 Approve Outside Director Stock For For Mgmt Awards/Options in Lieu of Cash 3 Ratify Auditors For For Mgmt 11/18/04 - A CAMPBELL SOUP CO. *CPB* 134429109 09/21/04 269,612 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Executive Incentive Bonus Plan For For Mgmt 01/12/05 - A WALGREEN CO. *WAG* 931422109 11/15/04 561,086 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Separate Chairman and CEO Positions Against Against ShrHoldr 01/27/05 - A ALBERTO-CULVER CO. *ACV* 013068101 12/01/04 79,049 1 Elect Directors For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 01/27/05 - A COSTCO WHOLESALE CORPORATION *COST* 22160K105 12/03/04 274,336 1 Elect Directors For For Mgmt 2 Amend Stock Option Plan For For Mgmt 3 Adopt Vendor Standards Against Against ShrHoldr 4 Develop Land Procurement Policy Against Against ShrHoldr 5 Ratify Auditors For For Mgmt 02/01/05 - S MOLSON COORS BREWING CO *TAP* 217016104 11/22/04 40,837 1 Amend Certificate of Incorporation For For Mgmt 2 Increase Authorized Common Stock For None Mgmt 3 Authorize a New Class of Common Stock For None Mgmt 4 Amend Certificate/Governance-Related For None Mgmt 5 Amend Certificate/Dividend Right For None Mgmt 6 Convert Form of Securities For None Mgmt 7 Convert Form of Securities For None Mgmt 8 Company Specific--Board-Related For None Mgmt 9 Amend Certificate/Increase or Decrease For None Mgmt Authorized Class B Stock 10 Directors May be Removed With/Without Cause For None Mgmt 03/08/05 - A WM. WRIGLEY JR. CO. *WWY* 982526105 01/14/05 171,142 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For Against Mgmt The number of additional authorized shares sought in this proposal exceeds guidelines (150% and 275%). The company has not offered a specific purpose for the additional shares. 3 Ratify Auditors For For Mgmt 4 Proposal Regarding a Change to Proxy Card Against Against ShrHoldr Features 04/19/05 - A THE COCA-COLA COMPANY *KO* 191216100 02/22/05 1,454,642 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Review Labor Rights in Columbia Against Against ShrHoldr 4 Performance- Based/Indexed Options Against For ShrHoldr SSGA supports performance-based compensation. 5 Submit Severance Agreement to Shareholder Against Against ShrHoldr Vote
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 04/19/05 - A THE HERSHEY CO *HSY* 427866108 02/22/05 186,926 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Increase Authorized Common Stock For Against Mgmt This proposal is bundled with an increase in supervoting stock. 4 Change Company Name For For Mgmt 04/27/05 - A ANHEUSER-BUSCH COMPANIES, INC. *BUD* 035229103 02/28/05 507,555 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Amend Stock Option Plan For For Mgmt 4 Ratify Auditors For For Mgmt 04/28/05 - A ALTRIA GROUP, INC. *MO* 02209S103 03/07/05 620,560 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Amend Non-Employee Director Stock Option For For Mgmt Plan 4 Ratify Auditors For For Mgmt 5 Eliminate Animal Testing Against Against ShrHoldr 6 Product Warnings for Pregnant Women Against Against ShrHoldr 7 Cease Use of Light and Ultra Light in Against Against ShrHoldr Cigarette Marketing 8 Apply Fire Safety Standards for Cigarettes Against Against ShrHoldr 04/28/05 - A KIMBERLY-CLARK CORP. *KMB* 494368103 02/28/05 319,659 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Adopt ILO Based Code of Conduct Against Against ShrHoldr 04/29/05 - A COCA-COLA ENTERPRISES INC. *CCE* 191219104 03/02/05 359,353 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Limit Executive Compensation Against Against ShrHoldr 5 Performance- Based/Indexed Options Against For ShrHoldr SSGA supports performance-based compensation. 6 Amendment of Governance Documents to Against Against ShrHoldr Require Election of Directors by Majority Vote
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 7 Performance and Time-Based Restricted Share Against Against ShrHoldr Grant Program for Senior Executives 04/29/05 - A KELLOGG CO. *K* 487836108 03/01/05 294,941 1 Elect Directors For Split Mgmt 1.1 Elect Director Claudio X. Gonzalez --- Withhold WITHHOLD votes from Claudio X. Gonzalez for sitting on more than four boards. 1.2 Elect Director A. D. David Mackay --- For 1.3 Elect Director William C. Richardson --- For 1.4 Elect Director John L. Zabriskie --- For 2 Ratify Auditors For For Mgmt 3 Report on Genetically Modified Organisms Against Against ShrHoldr (GMO) 4 Employ Financial Advisor to Explore Against Against ShrHoldr Alternatives to Maximize Value 05/03/05 - A UST INC. *UST* 902911106 03/09/05 150,697 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Adopt Policy on Internet Advertising Against Against ShrHoldr 05/04/05 - A COLGATE-PALMOLIVE CO. *CL* 194162103 03/07/05 359,100 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Stock Option Plan For For Mgmt 4 Approve Non-Employee Director Stock Option For For Mgmt Plan 5 Review/Limit Executive Compensation Against Against ShrHoldr 05/04/05 - A PEPSICO, INC. *PEP* 713448108 03/11/05 644,974 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Corporate Political Contributions Against Against ShrHoldr 05/05/05 - A AVON PRODUCTS, INC. *AVP* 054303102 03/16/05 359,503 1 Elect Directors For Split Mgmt 1.1 Elect Director Fred Hassan --- For 1.2 Elect Director Ann S. Moore ---
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ Withhold Ann S. Moore is an affiliated director on the compensation and nominating committees. 1.3 Elect Director Lawrence A. Weinbach --- For 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Amend Omnibus Stock Plan For For Mgmt 5 Disclose Charitable Contributions and Against Against ShrHoldr Fundraising Efforts 6 Reformulate Products to Remove Chemicals Against Against ShrHoldr Banned by EU 05/06/05 - A REYNOLDS AMERICAN INC *RAI* 761713106 03/08/05 142,330 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Phase Out Sale of Conventional Cigarettes Against Against ShrHoldr 5 Adopt Policy on Internet Advertising Against Against ShrHoldr 6 Apply Fire Safety Standards for Cigarettes Against Against ShrHoldr 05/11/05 - A MOLSON COORS BREWING CO *TAP* 60871R209 03/28/05 55,432 1 Elect Directors For For Mgmt 05/12/05 - A CVS CORPORATION *CVS* 126650100 03/15/05 315,358 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 4 Performance- Based/Indexed Options Against Against ShrHoldr 5 Review/Limit Executive Compensation Against Against ShrHoldr 05/12/05 - A THE GILLETTE CO. *G* 375766102 03/14/05 698,230 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/25/05 - A SAFEWAY INC. *SWY* 786514208 03/28/05 405,531 1 Elect Directors For Split Mgmt 1.1 Elect Director Steven A. Burd --- For 1.2 Elect Director Janet E. Grove --- For 1.3 Elect Director Mohan Gyani --- For 1.4 Elect Director Paul Hazen --- For
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 1.5 Elect Director Robert I. MacDonnell --- Withhold Robert I. MacDonnell is an affiliated outsider by SSGA standards, on the Audit and Compensation committees. 1.6 Elect Director Douglas J. MacKenzie --- For 1.7 Elect Director Rebecca A. Stirn --- For 1.8 Elect Director William Y. Tauscher --- Withhold William Y. Tauscher is an affiliated outsider by SSGA standards, on the compensation committee. 1.9 Elect Director Raymond G. viault --- For 2 Ratify Auditors For For Mgmt 3 Provide for Cumulative Voting Against Against ShrHoldr 4 Seek Sale of Company Against Against ShrHoldr 5 Separate Chairman and CEO Positions Against Against ShrHoldr 6 Prepare a Sustainability Report Against Against ShrHoldr 7 Limit Awards to Executives Against Against ShrHoldr 8 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 9 Limit Composition of Committee(s) to Against Against ShrHoldr Independent Directors 10 Proposal Regarding the Office of The Board Against Against ShrHoldr of Directors 05/25/05 - A THE PEPSI BOTTLING GROUP, INC. *PBG* 713409100 03/31/05 186,454 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Amend Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 15%. 06/02/05 - A ALBERTSON'S, INC. *ABS* 013104104 04/13/05 283,563 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 4 Adopt Simply Majority Vote Requirement Against For ShrHoldr SSGA supports the reduction of a company's voting requirements. 5 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ Vote 6 Separate Chairman and CEO Positions Against Against ShrHoldr 7 Performance- Based/Indexed Options Against For ShrHoldr The proposal requests that a significant portion of future stock option grants to senior executives shall be performance-based. This is not unduly restrictive. 06/03/05 - A WAL-MART STORES, INC. *WMT* 931142103 04/05/05 2,299,575 1 Elect Directors For Split Mgmt 1.1 Elect Director James W. Breyer --- For 1.2 Elect Director M. Michele Burns --- For 1.3 Elect Director Douglas N. Daft --- For 1.4 Elect Director David D. Glass --- For 1.5 Elect Director Roland A. Hernandez --- Withhold 1.6 Elect Director John D. Opie --- For 1.7 Elect Director J. Paul Reason --- For 1.8 Elect Director H. Lee Scott, Jr. --- For 1.9 Elect Director Jack C. Shewmaker --- For 1.10 Elect Director Jose H. Villarreal --- For 1.11 Elect Director John T. Walton --- For 1.12 Elect Director S. Robson Walton --- For 1.13 Elect Director Christopher J. Williams --- For 1.14 Elect Director Linda S. Wolf --- For 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Report on Executive Compensation Against Against ShrHoldr 5 Prepare Sustainability Report Against Against ShrHoldr 6 Report on Stock Option Distribution by Race Against Against ShrHoldr and Gender 7 Report on Political Contributions Against Against ShrHoldr 8 Prepare Equal Opportunity Report Against Against ShrHoldr 9 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 10 Require Majority of Independent Directors Against Against ShrHoldr on Board 11 Performance- Based/Indexed Options Against Against ShrHoldr 06/15/05 - A SUPERVALU INC. *SVU* 868536103 04/18/05 112,569 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Require a Majority Vote for the Election of Against Against ShrHoldr Directors
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 06/23/05 - A THE KROGER CO. *KR* 501044101 04/25/05 552,881 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Eliminate super-majority provision Against For ShrHoldr SSGA generally supports a simple majority vote to effect changes in a company's corporate governance or to engage in major transactions. Requiring a higher voting threshold could permit management to entrench itself by blocking amendments that are in shareholders' best interests. 5 Report on Feasibility of Improving Animal Against For ShrHoldr Welfare Standards 6 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 07/28/04 - A MCKESSON CORP. *MCK* 58155Q103 06/01/04 144,895 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 07/30/04 - A MYLAN LABORATORIES INC. *MYL* 628530107 06/11/04 137,738 1 Elect Directors For For Mgmt 08/11/04 - A FOREST LABORATORIES, INC. *FRX* 345838106 06/21/04 195,202 1 Elect Directors For Split Mgmt 1.1 Elect Director Howard Solomon --- For 1.2 Elect Director William J. Candee, III --- For 1.3 Elect Director George S. Cohan --- For 1.4 Elect Director Dan L. Goldwasser --- For 1.5 Elect Director Lester B. Salans --- For 1.6 Elect Director Kenneth E. Goodman --- For 1.7 Elect Director Phillip M. Satow --- Withhold WITHHOLD votes from Phillip M. Satow for standing as an affiliated outsider on the Audit Committee. 2 Increase Authorized Common Stock For For Mgmt 3 Approve Stock Option Plan For For Mgmt 4 Ratify Auditors For For Mgmt 08/26/04 - A MEDTRONIC, INC. *MDT* 585055106 07/02/04 643,610 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Charitable Contributions Against Against ShrHoldr 09/18/04 - A BIOMET, INC. *BMET* 090613100 07/21/04 145,039 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 10/21/04 - A APPLERA CORP *ABI* 038020103 08/30/04 125,902 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Amend Omnibus Stock Plan For Against Mgmt The initiative cannot be supported due to the trend of recent option grants, and the total level of potential
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- dilution under all plans is above the allowable cap of 18%. 5 Amend Omnibus Stock Plan For Against Mgmt The initiative cannot be supported due to the trend of recent option grants, and the total level of potential dilution under all plans is above the allowable cap of 18%. 12/08/04 - A CARDINAL HEALTH, INC. *CAH* 14149Y108 10/25/04 233,206 1 Elect Directors For For Mgmt 2 Amend Executive Incentive Bonus Plan For For Mgmt 3 Declassify the Board of Directors Against For ShrHoldr Classified boards serve to entrench management and discourage bidders by preventing replacement of the board in one year. In addition, shareholders are prevented from removing board members who are not acting in the best interest of shareholders until their term is completed. 02/01/05 - A BECTON, DICKINSON AND COMPANY 075887109 12/06/04 175,604 *BDX* 1 Elect Directors For Split Mgmt 1.1 Elect Director Basil L. Anderson --- Withhold Basil L. Anderson is an affiliated outsider on the audit commmittee. 1.2 Elect Director Gary A. Mecklenburg --- Withhold Gary A. Mecklenburg is an affiliated outsider on the audit and nominating commmittees. 1.3 Elect Director James E. Perrella --- For 1.4 Elect Director Alfred Sommer --- For 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus For For Mgmt Plan 4 Restore or Provide for Cumulative Against Against ShrHoldr Voting 02/15/05 - PC HEALTH MANAGEMENT ASSOCIATES, 421933102 12/20/04 177,251 INC. *HMA* MANAGEMENT PROXY (WHITE CARD) 1 Elect Directors For For Mgmt 2 Limit Outstanding Option Grants to Against Against ShrHoldr Executive 3 Policy Regarding Uninsured Against Against ShrHoldr
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- Low-Income and Insured Patients DISSIDENT PROXY (WHITE CARD) 1 Elect Directors (Opposition Slate) For None Mgmt 2 Limit Outstanding Option Grants to For None ShrHoldr Executive 3 Policy Regarding Uninsured For None ShrHoldr Low-Income and Insured Patients 03/04/05 - A AMERISOURCEBERGEN CORP *ABC* 03073E105 01/10/05 83,579 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/18/05 - A ELI LILLY AND CO. *LLY* 532457108 02/15/05 897,200 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Separate Chairman and CEO Positions Against Against ShrHoldr 4 Review and Report on Drug Against Against ShrHoldr Reimportation Policy 5 Report on Product Availability in Against Against ShrHoldr Canada 6 Report on Political Contributions Against Against ShrHoldr 7 Adopt Policy on Performance-based Against For ShrHoldr Stock Option Grants SSGA supports proposals that ask for performance-based compensation. 8 Eliminate Animal Testing Against Against ShrHoldr 04/20/05 - A C. R. BARD, INC. *BCR* 067383109 02/28/05 91,411 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Adopt ILO based Code of Conduct Against Against ShrHoldr 04/21/05 - A WYETH *WYE* 983024100 03/04/05 1,118,872 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Review and Report on Drug Against Against ShrHoldr Reimportation Policy 5 Separate Chairman and CEO Positions Against Against ShrHoldr 6 Report on Political Contributions Against Against ShrHoldr 7 Discontinue Promotion of Premarin Against Against ShrHoldr and Report on Animal Testing
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 04/22/05 - A ABBOTT LABORATORIES *ABT* 002824100 02/23/05 1,048,878 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Link Executive Compensation to Against Against ShrHoldr Government Fines 4 Performance- Based/Indexed Options Against For ShrHoldr SSGA supports perforamance-based compensation. 5 Eliminate Animal Testing Against Against ShrHoldr 6 Report on Political Contributions Against Against ShrHoldr 7 Report on Operational Imact of Against Against ShrHoldr HIV/AIDS, TB, and Malaria Pandemic 8 Separate Chairman and CEO Positions Against Against ShrHoldr 04/26/05 - A ALLERGAN, INC. *AGN* 018490102 03/10/05 113,779 1 Elect Directors For For Mgmt 04/26/05 - A BAUSCH & LOMB INC. *BOL* 071707103 03/01/05 47,868 1 Elect Directors For Split Mgmt 1.1 Elect Director Paul A. Friedman --- For 1.2 Elect Director Jonathan S. Linen --- For 1.3 Elect Director William H. Waltrip --- Withhold WITHHOLD votes from William H. Waltrip for standing as an affiliated outsider on the Compensation and Nominating committees. 2 Ratify Auditors For For Mgmt 3A Declassify the Board of Directors For For Mgmt 3B Reduce Supermajority Vote For For Mgmt Requirement 3C Authorize Board to Fill Vacancies For For Mgmt 3D Remove Supermajority Vote For For Mgmt Requirement for Removal of Directors 3E Remove Supermajority Vote For For Mgmt Requirement for Amendments 04/26/05 - A HUMANA INC. *HUM* 444859102 03/07/05 142,123 1 Elect Directors For For Mgmt 04/26/05 - A MERCK & CO., INC. *MRK* 589331107 02/25/05 1,820,995 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Prohibit Awards to Executives Against Against ShrHoldr 4 Limit Executive Compensation Against Against ShrHoldr 5 Eliminate Animal Testing Against Against ShrHoldr 6 Separate Chairman and CEO Positions Against Against ShrHoldr 7 Report on Product Availability in Against Against ShrHoldr
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 4 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 HEALTH CARE SELECT SECTOR SPDR FUND - J913
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- Canada 8 Report on Political Contributions Against Against ShrHoldr 9 Report on Operational Impact of Against Against ShrHoldr HIV/AIDS, TB, and Malaria Pandemic 04/26/05 - A PERKINELMER INC. *PKI* 714046109 02/28/05 104,940 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 04/26/05 - A SCHERING-PLOUGH CORP. *SGP* 806605101 03/04/05 1,240,589 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors Against Against ShrHoldr 4 Eliminate Animal Testing Against Against ShrHoldr 04/26/05 - A STRYKER CORP. *SYK* 863667101 02/28/05 334,842 1 Elect Directors For For Mgmt 04/27/05 - A CIGNA CORP. *CI* 125509109 02/28/05 114,018 1 Elect Directors For Split Mgmt 1.1 Elect Director Peter N. Larson --- For 1.2 Elect Director Carol Cox Wait --- For 1.3 Elect Director William D. Zollars --- Withhold 1.4 Elect Director Marilyn Ware --- For 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 04/27/05 - S GUIDANT CORP. *GDT* 401698105 03/21/05 277,429 1 Approve Merger Agreement For For Mgmt 04/27/05 - A MILLIPORE CORP. *MIL* 601073109 03/04/05 46,733 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 15%. 04/28/05 - A JOHNSON & JOHNSON *JNJ* 478160104 03/01/05 2,439,193 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 5 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 HEALTH CARE SELECT SECTOR SPDR FUND - J913
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 3 Ratify Auditors For For Mgmt 04/28/05 - A PFIZER INC. *PFE* 717081103 03/02/05 6,189,767 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Establish Term Limits for Directors Against Against ShrHoldr 4 Report on Pharmaceutical Price Against Against ShrHoldr Restraint 5 Review and Report on Drug Against Against ShrHoldr Reimportation Policy 6 Report on Political Contributions Against Against ShrHoldr 7 Report on Product Availability in Against Against ShrHoldr Canada 8 Separate Chairman and CEO Positions Against Against ShrHoldr 04/29/05 - A AETNA INC. *AET* 00817Y108 02/25/05 124,584 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Stock Option Plan For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 5 Restore or Provide for Cumulative Against Against ShrHoldr Voting 6 Expense Stock Options Against Against ShrHoldr 04/29/05 - A IMS HEALTH INC. *RX* 449934108 03/04/05 202,695 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Submit Poison Pill to Shareholder Against For ShrHoldr Vote Because shareholder rights plans greatly alter the balance of power between shareholders and management, shareholders should be allowed to make their own evaluation of such plans. 05/02/05 - A ZIMMER HOLDINGS INC *ZMH* 98956P102 03/15/05 213,801 1 Elect Directors For For Mgmt 2 Amend Stock Option Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Prohibit Auditor from Providing Against Against ShrHoldr Non-Audit Services 05/03/05 - A BAXTER INTERNATIONAL INC. *BAX* 071813109 03/04/05 522,046 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Restore or Provide for Cumulative Against Against ShrHoldr Voting
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 6 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 HEALTH CARE SELECT SECTOR SPDR FUND - J913
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 4 Prohibit Auditor from Providing Against Against ShrHoldr Non-Audit Services 5 Declassify the Board of Directors None Against ShrHoldr 05/03/05 - A BRISTOL-MYERS SQUIBB CO. *BMY* 110122108 03/07/05 1,629,559 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Articles to Eliminate Certain For For Mgmt Supermajority Vote Requirements 4 Report on Political Contributions Against Against ShrHoldr 5 Report on Operational Impact of Against Against ShrHoldr HIV/AIDS, TB, and Malaria Pandemic 6 Eliminate Animal Testing Against Against ShrHoldr 7 Separate Chairman and CEO Positions Against Against ShrHoldr 8 Proposal Regarding Restatement Against Against ShrHoldr Situations 9 Limit/Prohibit Awards to Executives Against For ShrHoldr SSGA supports performance based compensation. 10 Require a Majority Vote for the Against Against ShrHoldr Election of Directors 05/03/05 - A UNITEDHEALTH GROUP INCORPORATED 91324P102 03/07/05 549,609 *UNH* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Performance- Based/Indexed Options Against For ShrHoldr Given that: (1) the company currently does not incorporate a substantial portion of performance-based awards in its long-term executive compensation program and (2) the proposal is not overly restrictive as it does not request that all awards to all employees be performance-based or that all awards to top executives must be of a particular type, this item warrants shareholder support. 4 Performance- Based/Indexed Options Against For ShrHoldr Given that: (1) the company currently does not incorporate a substantial portion of performance-based awards in its long-term executive compensation program and (2) the proposal is not overly restrictive as it does not request that all awards to all employees be performance-based or that all awards to top executives must be of a particular type, this item warrants shareholder support.
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 7 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 HEALTH CARE SELECT SECTOR SPDR FUND - J913
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 05/04/05 - A WATERS CORP. *WAT* 941848103 03/15/05 103,742 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Approve Executive Incentive Bonus For For Mgmt Plan 5 Other Business For Against Mgmt Details of other business items not disclosed 05/06/05 - A FISHER SCIENTIFIC INTERNATIONAL 338032204 03/22/05 101,936 INC. *FSH* 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/09/05 - A HOSPIRA INC *HSP* 441060100 03/11/05 133,671 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Approve Executive Incentive Bonus For For Mgmt Plan 4 Ratify Auditors For For Mgmt 05/10/05 - A BOSTON SCIENTIFIC CORP. *BSX* 101137107 03/18/05 730,283 1 Elect Directors For Split Mgmt 1.1 Elect Director Ray J. Groves --- Withhold Ray J. Groves is an affiliated outsider on the compensation and nominating committees. 1.2 Elect Director Peter M. Nicholas --- For 1.3 Elect Director Warren B. Rudman --- For 1.4 Elect Director James R. Tobin --- For 2 Ratify Auditors For For Mgmt 3 Require a Majority Vote for the Against Against ShrHoldr Election of Directors 05/10/05 - A GILEAD SCIENCES, INC. *GILD* 375558103 03/22/05 376,500 1 Elect Directors For Split Mgmt 1.1 Elect Director Paul Berg --- Withhold Paul Berg is an affiliated outsider on the nominating committee. 1.2 Elect Director Etienne F. Davignon --- For
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 8 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 HEALTH CARE SELECT SECTOR SPDR FUND - J913
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 1.3 Elect Director James M. Denny --- For 1.4 Elect Director John C. Martin --- For 1.5 Elect Director Gordon E. Moore --- For 1.6 Elect Director Nicholas G. Moore --- For 1.7 Elect Director George P. Shultz --- For 1.8 Elect Director Gayle E. Wilson --- For 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Report on Impact of HIV/AIDS, TB, Against Against ShrHoldr and Malaria Pandemics 05/10/05 - A MANOR CARE, INC. *HCR* 564055101 03/18/05 81,058 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus For For Mgmt Plan 05/10/05 - A QUEST DIAGNOSTICS, INCORPORATED 74834L100 03/14/05 90,216 *DGX* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Amend Non-Employee Director Stock For For Mgmt Option Plan 05/10/05 - A WELLPOINT INC *WLP* 94973V107 03/18/05 260,056 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Performance- Based/Indexed Options Against For ShrHoldr SSGA supports performance-based compensation. 05/11/05 - A AMGEN, INC. *AMGN* 031162100 03/18/05 1,090,129 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Eliminate Animal Testing Against Against ShrHoldr 4 Review/Limit Executive Compensation Against Against ShrHoldr 5 Adopt Retention Ratio for Executives Against Against ShrHoldr 05/11/05 - A CAREMARK RX, INC. *CMX* 141705103 03/29/05 403,020 1 Elect Directors For Split Mgmt 1.1 Elect Director Edwin M. Crawford --- For 1.2 Elect Director Kristen Gibney Williams --- Withhold Kristen Gibney Williams is an affiliated outsider on
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 9 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 HEALTH CARE SELECT SECTOR SPDR FUND - J913
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- the audit committee. 1.3 Elect Director Edward L. Hardin --- For 2 Report on Political Contributions Against Against ShrHoldr 05/11/05 - A ST. JUDE MEDICAL, INC. *STJ* 790849103 03/14/05 315,145 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Prohibit Auditor from Providing Against Against ShrHoldr Non-Audit Services 05/13/05 - A WATSON PHARMACEUTICALS, INC. 942683103 03/21/05 98,645 *WPI* 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/17/05 - A THERMO ELECTRON CORP. *TMO* 883556102 03/21/05 138,476 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Require a Majority Vote for the Against Against ShrHoldr Election of Directors 05/18/05 - A LABORATORY CORPORATION OF 50540R409 03/31/05 122,553 AMERICA HOLDINGS *LH* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/19/05 - A MEDIMMUNE, INC. *MEDI* 584699102 03/31/05 228,703 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/25/05 - A CHIRON CORP. *CHIR* 170040109 03/28/05 133,573 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/25/05 - A EXPRESS SCRIPTS, INC. *ESRX* 302182100 03/31/05 71,554 1 Elect Directors For Split Mgmt 1.1 Elect Director Gary G. Benanav --- For 1.2 Elect Director Frank J. Borelli --- For 1.3 Elect Director Maura C. Breen --- For
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 10 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 HEALTH CARE SELECT SECTOR SPDR FUND - J913
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 1.4 Elect Director Nicholas J. Lahawchic --- For 1.5 Elect Director Thomas P. MacMahon --- For 1.6 Elect Director John O. Parker, Jr. --- For 1.7 Elect Director George Paz --- For 1.8 Elect Director Samuel K. Skinner --- For 1.9 Elect Director Seymour Sternberg --- Withhold Seymour Sternberg is an affiliated outsider on the nominating committee. 1.10 Elect Director Barrett A. Toan --- For 1.11 Elect Director Howard L. Waltman --- For 2 Ratify Auditors For For Mgmt 05/26/05 - A GENZYME CORP. *GENZ* 372917104 03/31/05 224,279 1 Elect Directors For For Mgmt 2 Amend Qualified Employee Stock For For Mgmt Purchase Plan 3 Amend Stock Option Plan For For Mgmt 4 Ratify Auditors For For Mgmt 5 Declassify the Board of Directors Against For ShrHoldr Classified boards serve to entrench management and discourage bidders by preventing replacement of the board in one year. In addition, shareholders are prevented from removing board members who are not acting in the best interest of shareholders until their term is completed. 05/26/05 - A HCA, INC. *HCA* 404119109 03/28/05 367,635 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 05/26/05 - A TENET HEALTHCARE CORP. *THC* 88033G100 04/01/05 427,110 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/31/05 - A KING PHARMACEUTICALS INC. *KG* 495582108 03/28/05 228,073 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 05/31/05 - A MEDCO HEALTH SOLUTIONS INC 58405U102 04/04/05 256,936 *MHS* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Approve Qualified Employee Stock For For Mgmt Purchase Plan 5 Approve Executive Incentive Bonus For For Mgmt Plan 06/03/05 - A BIOGEN IDEC, INC. *BIIB* 09062X103 04/06/05 307,365 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Amend Qualified Employee Stock For For Mgmt Purchase Plan
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 12 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 07/16/04 - A DELL INC. *DELL* 24702R101 05/21/04 1,135,477 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against Against ShrHoldr 07/29/04 - A ELECTRONIC ARTS INC. *ERTS* 285512109 06/08/04 137,084 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 4 Amend Articles to Consolidate Common Stock For For Mgmt 5 Increase Authorized Common Stock For Against Mgmt The number of additional authorized common shares sought in this proposal exceeds guidelines (150%). 6 Ratify Auditors For For Mgmt 08/05/04 - A XILINX, INC. *XLNX* 983919101 06/07/04 157,960 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 08/09/04 - A COMPUTER SCIENCES CORPORATION *CSC* 205363104 06/11/04 86,726 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 08/19/04 - A NVIDIA CORPORATION *NVDA* 67066G104 06/30/04 89,348 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 08/24/04 - A BMC SOFTWARE, INC. *BMC* 055921100 07/06/04 112,996 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 08/24/04 - A COMPUWARE CORP. *CPWR* 205638109 07/01/04 211,783 1 Elect Directors For Split Mgmt 1.1 Elect Director Dennis W. Archer --- For 1.2 Elect Director Gurminder S. Bedi --- For 1.3 Elect Director Elaine K. Didier --- For 1.4 Elect Director William O. Grabe --- For 1.5 Elect Director William R. Halling --- For 1.6 Elect Director Peter Karmanos, Jr. --- For
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 1 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 1.7 Elect Director Faye Alexander Nelson --- For 1.8 Elect Director Glenda D. Price --- For 1.9 Elect Director W. James Prowse --- Withhold WITHHOLD votes from W. James Prowse for standing as an affiliated outsider on the Audit and Nominating Committees. 1.10 Elect Director G. Scott Romney --- For 1.11 Elect Director Lowell P. Weicker, Jr. --- For 08/24/04 - A QLOGIC CORP. *QLGC* 747277101 07/02/04 47,633 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 08/25/04 - A COMPUTER ASSOCIATES INTERNATIONAL, 204912109 06/30/04 285,450 INC. *CA* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Review Executive Compensation Against Against ShrHoldr 08/25/04 - A VERITAS SOFTWARE CORP. 923436109 06/28/04 211,432 1 Elect Directors For For Mgmt 2 Amend Stock Option Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 18%. 3 Ratify Auditors For For Mgmt 09/01/04 - A APPLIED MICRO CIRCUITS CORP. *AMCC* 03822W109 07/06/04 183,981 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 09/02/04 - A NETWORK APPLIANCE, INC. *NTAP* 64120L104 07/08/04 177,367 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For Against Mgmt The initiative cannot be supported due to the trend of recent option grants and the total level of potential dilution under all plans is above the allowable cap of 15%. 3 Amend Employee Stock Purchase Plan For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 4 Ratify Auditors For For Mgmt 09/15/04 - A SYMANTEC CORP. *SYMC* 871503108 07/20/04 149,900 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Amend Outside Director Stock in Lieu of For For Mgmt Cash Plan 5 Ratify Auditors For For Mgmt 09/17/04 - S MAXIM INTEGRATED PRODUCTS, INC. 57772K101 07/21/04 158,695 *MXIM* 1 Amend Omnibus Stock Plan For Against Mgmt The initiative cannot be supported due to the trend of recent option grants and the total level of potential dilution under all plans is above the allowable cap of 15%. 09/23/04 - A TEKTRONIX, INC. *TEK* 879131100 07/19/04 47,541 1 Elect Directors For For Mgmt 10/01/04 - A NATIONAL SEMICONDUCTOR CORP. *NSM* 637640103 08/13/04 174,740 1 Elect Directors For Split Mgmt 1.1 Elect Director Brian L. Halla --- For 1.2 Elect Director Steven R. Appleton --- For 1.3 Elect Director Gary P. Arnold --- Withhold WITHHOLD votes from Gary P. Arnold for standing as an affiliated outsider on the Audit Committee. 1.4 Elect Director Richard J. Danzig --- For 1.5 Elect Director Robert J. Frankenberg --- For 1.6 Elect Director E. Floyd Kvamme --- For 1.7 Elect Director Modesto A. Maidique --- For 1.8 Elect Director Edward R. Mccracken --- For 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Approve Executive Stock Option Plan For Against Mgmt The initiative cannot be supported due to the trend of recent option grants and the total level of potential
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ dilution under all plans is above the allowable cap of 15%. 10/06/04 - A PAYCHEX, INC. *PAYX* 704326107 08/09/04 167,868 1 Elect Directors For Split Mgmt 1.1 Elect Director B. Thomas Golisano --- For 1.2 Elect Director G. Thomas Clark --- Withhold WITHHOLD votes from G. Thomas Clark for standing as an affiliated outsider on the Audit Committee and Joseph M. Tucci for standing as an affiliated outsider on the Compensation and Nominating committees. 1.3 Elect Director David J. S. Flaschen --- For 1.4 Elect Director Phillip Horsley --- For 1.5 Elect Director Grant M. Inman --- For 1.6 Elect Director J. Robert Sebo --- For 1.7 Elect Director Joseph M. Tucci --- Withhold WITHHOLD votes from G. Thomas Clark for standing as an affiliated outsider on the Audit Committee and Joseph M. Tucci for standing as an affiliated outsider on the Compensation and Nominating committees. 10/18/04 - A KLA-TENCOR CORP. *KLAC* 482480100 08/23/04 89,214 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 10/22/04 - A MOLEX INCORPORATED *MOLX* 608554101 08/27/04 82,163 1 Elect Directors For For Mgmt 2 Approve Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt 10/28/04 - A AFFILIATED COMPUTER SERVICES, INC. 008190100 09/17/04 62,524 *ACS* 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 10/29/04 - A ORACLE CORP. *ORCL* 68389X105 09/02/04 2,262,670 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Amend Omnibus Stock Plan For For Mgmt 5 Implement China Principles Against Against ShrHoldr 11/03/04 - A LINEAR TECHNOLOGY CORP. *LLTC* 535678106 09/08/04 146,947 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 11/03/04 - A SCIENTIFIC-ATLANTA, INC. *SFA* 808655104 09/15/04 80,554 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 11/09/04 - A AUTOMATIC DATA PROCESSING, INC. *ADP* 053015103 09/10/04 271,495 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 11/09/04 - A MICROSOFT CORP. *MSFT* 594918104 09/10/04 4,964,744 1 Elect Directors For For Mgmt 2 Amend Bundled Compensation Plans For For Mgmt 3 Amend Bundled Compensation Plans For For Mgmt 4 Amend Stock Option Plan For For Mgmt 5 Ratify Auditors For For Mgmt 11/10/04 - A SUN MICROSYSTEMS, INC. *SUNW* 866810104 09/13/04 1,570,865 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 11/16/04 - A JDS UNIPHASE CORP. *JDSU* 46612J101 09/15/04 711,631 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 11/18/04 - A CISCO SYSTEMS, INC. *CSCO* 17275R102 09/20/04 3,109,804 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Pay Disparity Against Against ShrHoldr
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 11/18/04 - A MAXIM INTEGRATED PRODUCTS, INC. 57772K101 09/27/04 153,019 *MXIM* 1 Elect Directors For Split Mgmt 1.1 Elect Director James R. Bergman --- Withhold WITHHOLD votes from James R. Bergman for standing as an affiliated outsider on the Audit, Compensation and Nominating committees. 1.2 Elect Director John F. Gifford --- For 1.3 Elect Director B. Kipling Hagopian --- For 1.4 Elect Director M.D. Sampels --- For 1.5 Elect Director A.R. Frank Wazzan --- For 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt 11/18/04 - A MICRON TECHNOLOGY, INC. *MU* 595112103 09/20/04 293,011 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Approve Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 18%. 4 Approve Executive Incentive Bonus Plan For For Mgmt 5 Ratify Auditors For For Mgmt 12/09/04 - A INTUIT INC. *INTU* 461202103 10/11/04 91,419 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 01/13/05 - A SOLECTRON CORP. *SLR* 834182107 11/18/04 583,848 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 01/20/05 - A JABIL CIRCUIT, INC. *JBL* 466313103 11/22/04 119,712 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 02/08/05 - A ANDREW CORP. *ANDW* 034425108 12/10/04 116,119 1 Elect Directors For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Ratify Auditors For For Mgmt 5 Other Business For Against Mgmt Details of other business items not disclosed 02/15/05 - A AVAYA INC *AV* 053499109 12/20/04 339,522 1 Elect Directors For Split Mgmt 1.1 Elect Director Philip A. Odeen --- Withhold Philip A. Odeen is an affiliated outsider on the compensation committee. 1.2 Elect Director Hellene S. Runtagh --- For 1.3 Elect Director Paula Stern --- For 1.4 Elect Director Richard F. Wallman --- For 02/16/05 - A LUCENT TECHNOLOGIES INC. *LU* 549463107 12/20/04 2,584,658 1 Elect Directors For For Mgmt 2 Approve Reverse Stock Split For For Mgmt 3 Report on Political Contributions Against Against ShrHoldr 4 Performance- Based/Indexed Options Against For ShrHoldr Given the fact that Lucent does not grant a "substantial" portion of performance-based awards, shareholder support of the proposal is warranted at this time. 5 Prohibit Auditor from Providing Non-Audit Against Against ShrHoldr Services 6 Approve Future Golden Parachute Provision Against Against ShrHoldr 02/28/05 - A SANMINA-SCI CORP. *SANM* 800907107 01/03/05 329,444 1 Elect Directors For Split Mgmt 1.1 Elect Director Neil R. Bonke --- For 1.2 Elect Director Alain Couder --- For 1.3 Elect Director Randy W. Furr --- For 1.4 Elect Director Mario M. Rosati --- Withhold WITHHOLD votes from Mario M. Rosati for standing as an affiliated outsider on the Nominating Committee. 1.5 Elect Director A. Eugene Sapp, Jr. --- For
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 7 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 1.6 Elect Director Wayne Shortridge --- For 1.7 Elect Director Peter J. Simone --- For 1.8 Elect Director Jure Sola --- For 1.9 Elect Director Jacquelyn M. Ward --- For 2 Ratify Auditors For For Mgmt 03/01/05 - A ADC TELECOMMUNICATIONS, INC. *ADCT* 000886101 01/12/05 509,398 1 Elect Directors For For Mgmt 2 Redeem Shareholder Rights Plan Agreement Against For ShrHoldr SSGA supports shareholder proposal that allow for shareholder rights plans to be put to a vote or repealed. 3 Ratify Auditors For For Mgmt 03/01/05 - A AGILENT TECHNOLOGIES INC. *A* 00846U101 01/03/05 280,971 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Executive Incentive Bonus Plan For For Mgmt 03/08/05 - A ANALOG DEVICES, INC. *ADI* 032654105 01/14/05 213,109 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against Against ShrHoldr 03/08/05 - A QUALCOMM INC. *QCOM* 747525103 01/07/05 910,748 1 Elect Directors For Split Mgmt 1.1 Elect Director Robert E. Kahn --- For 1.2 Elect Director Duane A. Nelles --- Withhold WITHHOLD votes from Duane A. Nelles for standing as an affiliated outsider on the Audit and Nominating committees. 1.3 Elect Director Brent Scowcroft --- For 2 Declassify the Board of Directors and For For Mgmt Eliminate Cumulative Voting 3 Increase Authorized Common Stock For For Mgmt 4 Amend Articles For For Mgmt 5 Ratify Auditors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 8 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 03/10/05 - A PARAMETRIC TECHNOLOGY CORP. *PMTC* 699173100 01/17/05 208,346 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Approve Reverse Stock Split For Against Mgmt The reverse split would have the same effect as increasing the number of authorized shares by 150 percent which is above the allowable cap. 4 Ratify Auditors For For Mgmt 03/16/05 - A CIENA CORPORATION *CIEN* 171779101 01/18/05 354,759 1 Elect Directors For For Mgmt 2 Amend Employee Stock Purchase Plan For For Mgmt 3 Ratify Auditors For For Mgmt 03/16/05 - A HEWLETT-PACKARD CO. *HPQ* 428236103 01/18/05 1,670,997 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Employee Stock Purchase Plan For For Mgmt 03/23/05 - A APPLIED MATERIALS, INC. *AMAT* 038222105 01/28/05 938,827 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/06/05 - A FISERV, INC. *FISV* 337738108 02/14/05 106,914 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Approve Omnibus Stock Plan For For Mgmt 04/14/05 - A NOVELL, INC. *NOVL* 670006105 02/15/05 248,954 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend By-Laws for Performance-Based Equity Against Against ShrHoldr Compensation 04/19/05 - A CONVERGYS CORP. *CVG* 212485106 02/28/05 70,418 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 9 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 04/21/05 - A ALLTEL CORP. *AT* 020039103 02/24/05 164,681 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/21/05 - A APPLE COMPUTER, INC. *AAPL* 037833100 03/01/05 211,347 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Amend Qualified Employee Stock Purchase Plan For For Mgmt 5 Ratify Auditors For For Mgmt 6 Performance- Based/Indexed Options Against For ShrHoldr SSGA supports performance-based compensation. 04/21/05 - A TELLABS, INC. *TLAB* 879664100 02/22/05 270,912 1 Elect Directors For For Mgmt 2 Approve Qualified Employee Stock Purchase For For Mgmt Plan 3 Ratify Auditors For For Mgmt 04/21/05 - A TEXAS INSTRUMENTS INC. *TXN* 882508104 02/22/05 942,469 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Qualified Employee Stock Purchase For For Mgmt Plan 4 Amend Stock Option Plan For For Mgmt 04/21/05 - A UNISYS CORP. *UIS* 909214108 02/28/05 181,132 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/22/05 - A ELECTRONIC DATA SYSTEMS CORP. *EDS* 285661104 03/01/05 264,641 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Eliminate Supermajority Vote Requirement For For Mgmt 04/25/05 - A BELLSOUTH CORP. *BLS* 079860102 03/07/05 906,647 1 Elect Directors For Split Mgmt 1.1 Elect Director F. Duane Ackerman --- For
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 10 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 1.2 Elect Director Reuben V. Anderson --- For 1.3 Elect Director James H. Blanchard --- For 1.4 Elect Director J. Hyatt Brown --- Withhold WITHHOLD votes from J. Hyatt Brown for sitting on more than four public boards. 1.5 Elect Director Armando M. Codina --- For 1.6 Elect Director Kathleen F. Feldstein --- For 1.7 Elect Director James P. Kelly --- For 1.8 Elect Director Leo F. Mullin --- For 1.9 Elect Director William S. Stavropoulos --- For 1.10 Elect Director Robin B. Smith --- For 2 Ratify Auditors For For Mgmt 3 Political Contributions Against Against ShrHoldr 04/26/05 - A INTERNATIONAL BUSINESS MACHINES CORP. 459200101 02/25/05 887,741 *IBM* 1 Elect Directors For Split Mgmt 1.1 Elect Director Cathleen Black --- For 1.2 Elect Director Kenneth I. Chenault --- For 1.3 Elect Director Juergen Dormann --- For 1.4 Elect Director Michael L. Eskew --- Withhold WITHHOLD votes for standing as an affiliated outsider on the Audit Committee. 1.5 Elect Director Carlos Ghosn --- For 1.6 Elect Director Charles F. Knight --- For 1.7 Elect Director Minoru Makihara --- For 1.8 Elect Director Lucio A. Noto --- For 1.9 Elect Director Samuel J. Palmisano --- For 1.10 Elect Director Joan E. Spero --- For 1.11 Elect Director Sidney Taurel --- For 1.12 Elect Director Charles M. Vest --- For 1.13 Elect Director Lorenzo H. Zambrano --- For 2 Ratify Auditors For For Mgmt 3 Restore or Provide for Cumulative Voting Against Against ShrHoldr 4 Eliminate Age Discrimination in Retirement Against Against ShrHoldr Benefits
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 11 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 5 Calculate Executive Salary Without Regard Against Against ShrHoldr to Pension Income 6 Expense Stock Options Against Against ShrHoldr 7 Report on Executive Compensation Against Against ShrHoldr 8 Report on Outsourcing Against Against ShrHoldr 04/27/05 - A NCR CORPORATION *NCR* 62886E108 02/14/05 113,690 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Eliminate Domestic Partner Benefits for Against Against ShrHoldr Executives 04/28/05 - A ADOBE SYSTEMS INC. *ADBE* 00724F101 03/01/05 124,598 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 18%. 3 Amend Non-Employee Director Stock Option For For Mgmt Plan 4 Expense Stock Options Against Against ShrHoldr 5 Review/Limit Executive Compensation Against Against ShrHoldr 6 Ratify Auditors For For Mgmt 04/28/05 - A ADVANCED MICRO DEVICES, INC. *AMD* 007903107 02/28/05 216,339 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 4 Expense Stock Options Against Against ShrHoldr 04/28/05 - A BROADCOM CORP. *BRCM* 111320107 03/04/05 171,897 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For Against Mgmt The initiative cannot be supported due to the trend of recent option grants, the total level of potential dilution under all plans is above the allowable cap of 18%, and the plan permits repricing. 3 Ratify Auditors For For Mgmt 4 Link Executive Compensation to Social and Against Against ShrHoldr Financial Issues
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 12 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 04/28/05 - A CORNING INC. *GLW* 219350105 03/01/05 753,330 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 04/28/05 - A LEXMARK INTERNATIONAL, INC. *LXK* 529771107 03/04/05 65,770 1 Elect Directors For Split Mgmt 1.1 Elect Director B. Charles Ames --- For 1.2 Elect Director Ralph E. Gomory --- For 1.3 Elect Director Marvin L. Mann --- Withhold WITHHOLD votes from Marvin L. Mann for standing as an affiliated outsider on the Audit Committee. 1.4 Elect Director Teresa Beck --- For 2 Approve Non-Employee Director Omnibus Stock For For Mgmt Plan 3 Ratify Auditors For For Mgmt 04/29/05 - A FREESCALE SEMICONDUCTOR, INC. *FSL* 35687M206 03/01/05 194,757 1 Elect Directors For For Mgmt 2 Amend Articles For For Mgmt 3 Amend Bylaws For For Mgmt 4 Approve Omnibus Stock Plan For For Mgmt 5 Ratify Auditors For For Mgmt 04/29/05 - A NOVELLUS SYSTEMS, INC. *NVLS* 670008101 03/01/05 74,224 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 18%. 3 Amend Qualified Employee Stock Purchase Plan For For Mgmt 4 Ratify Auditors For For Mgmt 04/29/05 - A SBC COMMUNICATIONS INC. *SBC* 78387G103 03/01/05 1,261,253 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Nonqualified Employee Stock For For Mgmt Purchase Plan 4 Report on Political Contributions Against Against ShrHoldr
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 13 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 5 Report on Executive Compensation Against Against ShrHoldr 6 Performance- Based/Indexed Options Against Against ShrHoldr 7 Adopt Simple Majority Vote Against For ShrHoldr Supermajority vote requirements generally serve to lock in provisions that are harmful to shareholders. Requiring approval by more than a simple majority of voting shares may entrench management by preventing action that may benefit shareholders. 05/02/05 - A MOTOROLA, INC. *MOT* 620076109 03/04/05 1,214,167 1 Elect Directors For For Mgmt 2 Limit Executive Compensation Against Against ShrHoldr 3 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 05/05/05 - A CITRIX SYSTEMS, INC. *CTXS* 177376100 03/15/05 94,058 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Approve Qualified Employee Stock Purchase For For Mgmt Plan 4 Ratify Auditors For For Mgmt 05/05/05 - A EMC CORP. *EMC* 268648102 03/07/05 1,202,893 1 Elect Directors For Split Mgmt 1.1 Elect Director Michael J. Cronin --- For 1.2 Elect Director W. Paul Fitzgerald --- Withhold WITHHOLD votes from W. Paul Fitzgerald for standing as an affiliated outsider on the audit committee and nominating committee. 1.3 Elect Director Joseph M. Tucci --- For 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Performance- Based/Indexed Options Against For ShrHoldr SSGA supports performance-based compensation. 5 Creation of an Independent Audit Committee Against Against ShrHoldr 05/05/05 - A VERIZON COMMUNICATIONS *VZ* 92343V104 03/07/05 1,363,130 1 Elect Directors For Split Mgmt 1.1 Elect Director James R. Barker --- For 1.2 Elect Director Richard L. Carrion --- Withhold
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 14 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ Richard L. Carrion is an affiliated outsider on the compensation committee. 1.3 Elect Director Robert W. Lane --- For 1.4 Elect Director Sandra O. Moose --- Withhold Sandra O. Moose is an affiliated outsider on the audit and nominating committees. 1.5 Elect Director Joseph Neubauer --- Withhold WITHHOLD votes for sitting on more than four boards while serving as CEO. 1.6 Elect Director Thomas H. O' Brien --- For 1.7 Elect Director Hugh B. Price --- For 1.8 Elect Director Ivan G. Seidenberg --- For 1.9 Elect Director Walter V. Shipley --- For 1.10 Elect Director John R. Stafford --- For 1.11 Elect Director Robert D. Storey --- For 2 Ratify Auditors For For Mgmt 3 Provide for Cumulative Voting Against Against ShrHoldr 4 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 5 Require Majority of Independent Directors Against For ShrHoldr on Board SSGA supports proposals urging a standard of a two-thirds majority independent board, which the company currently does not meet. 6 Separate Chairman and CEO Positions Against Against ShrHoldr 7 Amend Director/Officer Against Against ShrHoldr Liability/Indemnifications Provisions 8 Report on Political Contributions Against Against ShrHoldr 05/09/05 - A SYMBOL TECHNOLOGIES, INC. *SBL* 871508107 03/28/05 145,436 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/10/05 - A ALTERA CORP. *ALTR* 021441100 03/14/05 195,167 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Amend Stock Option Plan For For Mgmt 4 Amend Qualified Employee Stock Purchase Plan For For Mgmt 5 Ratify Auditors For For Mgmt 6 Expense Stock Options Against Against ShrHoldr
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 15 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 7 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 05/11/05 - A FIRST DATA CORP. *FDC* 319963104 03/14/05 411,345 1 Elect Directors For For Mgmt 2 Amend Qualified Employee Stock Purchase Plan For For Mgmt 3 Amend Executive Incentive Bonus Plan For For Mgmt 4 Ratify Auditors For For Mgmt 5 Report on Outsourcing Against Against ShrHoldr 6 Amend Director/Officer Against Against ShrHoldr Liability/Indemnifications Provisions 05/12/05 - A CENTURYTEL, INC. *CTL* 156700106 03/22/05 71,827 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Approve Non-Employee Director Omnibus Stock For For Mgmt Plan 5 Approve Executive Incentive Bonus Plan For For Mgmt 05/12/05 - A LSI LOGIC CORP. *LSI* 502161102 03/18/05 216,369 1 Elect Directors For Split Mgmt 1.1 Elect Director Wilfred J. Corrigan --- For 1.2 Elect Director James H. Keyes --- For 1.3 Elect Director Malcolm R. Currie --- For 1.4 Elect Director T.Z. Chu --- For 1.5 Elect Director R. Douglas Norby --- Withhold R. Douglas Norby is an affiliated outtsider on the audit committee. 1.6 Elect Director Matthew J. O'Rourke --- For 1.7 Elect Director Gregorio Reyes --- For 1.8 Elect Director Larry W. Sonsini --- Withhold WITHHOLD votes from Larry W. Sonsini for standing as an affiliated outsider on the Nominating Committee. 2 Ratify Auditors For For Mgmt 05/17/05 - A SABRE HOLDINGS CORPORATION *TSG* 785905100 03/18/05 68,010 1 Elect Directors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 16 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Amend Articles For For Mgmt 5 Amend Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 18%. 05/18/05 - A INTEL CORP. *INTC* 458140100 03/21/05 3,182,832 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 05/19/05 - A GATEWAY INC *GTW* 367626108 03/23/05 195,961 1 Elect Directors For Split Mgmt 1.1 Elect Director George H. Krauss --- For 1.2 Elect Director Joseph G. Parham, Jr. --- For 1.3 Elect Director Richard D. Synder --- Withhold Richard D. Snyder is an affiliated outside on the audit and nominating committee. 2 Ratify Auditors For For Mgmt 3 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 05/19/05 - A MERCURY INTERACTIVE CORP. *MERQ* 589405109 03/22/05 46,770 1 Elect Directors For Split Mgmt 1.1 Elect Director Amnon Landan --- For 1.2 Elect Director Brad Boston --- Withhold Brad Boston is an affiliated outsider on the audit and compensation committees. 1.3 Elect Director Igal Kohavi --- For 1.4 Elect Director Clyde Ostler --- Withhold Clyde Ostler is an affiliated outsider on the audit and nominating committees. 1.5 Elect Director Yair Shamir --- For 1.6 Elect Director Giora Yaron --- For 1.7 Elect Director Anthony Zingale --- For 2 Ratify Auditors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 17 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 05/19/05 - A XEROX CORP. *XRX* 984121103 03/24/05 523,337 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/19/05 - A YAHOO!, INC. *YHOO* 984332106 03/23/05 689,033 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 18%. 3 Amend Non-Employee Director Stock Option For For Mgmt Plan 4 Ratify Auditors For For Mgmt 05/24/05 - A QWEST COMMUNICATIONS INTERNATIONAL 749121109 03/28/05 900,124 INC. *Q* 1 Elect Directors For Split Mgmt 1.1 Elect Director Linda G. Alvardo --- For 1.2 Elect Director Cannon Y. Harvey --- Withhold WITHHOLD votes from Cannon Y. Harvey for standing as an affiliated outsider on the Nominating Committee. 1.3 Elect Director Richard C. Notebaert --- For 2 Ratify Auditors For For Mgmt 3 Require Majority of Independent Directors Against For ShrHoldr on Board The company does not have all key committees composed of independent director. Cannon Y. Harvey is an affiliated outsider on the Nominating and Governance Committee. Philip F. Anschutz is an affiliated outsider on the Nominating and Governance and the Compensation Committees. As such, this proposal warrants support. 4 Submit Executive Compensation to Vote Against Against ShrHoldr 5 Claw-Back of Awards Under Restatement Against Against ShrHoldr 05/25/05 - A PMC-SIERRA, INC. *PMCS* 69344F106 03/31/05 117,540 1 Elect Directors For Split Mgmt 1.1 Elect Director Robert Bailey --- For 1.2 Elect Director Richard Belluzo --- For 1.3 Elect Director James Diller, Sr --- Withhold
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 18 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ WITHHOLD votes from James Diller, Sr. for standing as an affiliated outsider on the Compensation and Nominating committees. 1.4 Elect Director Jonathan Judge --- For 1.5 Elect Director William Kurtz --- For 1.6 Elect Director Frank Marshall --- For 1.7 Elect Director Lewis Wilks --- For 2 Ratify Auditors For For Mgmt 05/26/05 - A CITIZENS COMMUNICATIONS CO. *CZN* 17453B101 03/28/05 191,731 1 Elect Directors For For Mgmt 2 Amend Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Other Business For Against Mgmt Details of other business items not disclosed 05/26/05 - A TERADYNE, INC. *TER* 880770102 04/04/05 112,460 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 06/08/05 - A SIEBEL SYSTEMS, INC. *SEBL* 826170102 04/18/05 295,459 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 06/16/05 - A COMVERSE TECHNOLOGY, INC. *CMVT* 205862402 04/25/05 120,882 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 06/23/05 - A AUTODESK, INC. *ADSK* 052769106 05/02/05 148,432 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Approve Increase in Common Stock and a For For Mgmt Stock Split 4 Approve Executive Incentive Bonus Plan For For Mgmt 5 Ratify Auditors For For Mgmt 06/24/05 - S SYMANTEC CORP. *SYMC* 871503108 05/12/05 394,468 1 Approve Merger Agreement For For Mgmt 2 Increase Authorized Common Stock For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 19 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 TECHNOLOGY SELECT SECTOR SPDR FUND - J912
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 3 Adjourn Meeting For Against Mgmt In this case, shareholders already have enough information to make their vote decisions. Once their votes have been cast, there is no justification for spending more money to continue pressing shareholders for more votes. 06/24/05 - S VERITAS SOFTWARE CORP. 923436109 05/12/05 243,712 1 Approve Merger Agreement For For Mgmt 2 Adjourn Meeting For Against Mgmt In this case, shareholders already have enough information to make their vote decisions. Once their votes have been cast, there is no justification for spending more money to continue pressing shareholders for more votes. 06/30/05 - A AT&T CORP. *T* 001957505 05/27/05 466,771 1 Approve Merger Agreement For For Mgmt 2 Adjourn Meeting For Against Mgmt In this case, shareholders already have enough information to make their vote decisions. Once their votes have been cast, there is no justification for spending more money to continue pressing shareholders for more votes. 3 Elect Directors For For Mgmt 4 Ratify Auditors For For Mgmt 5 Limit Awards to Executives Against Against ShrHoldr 6 Performance- Based/Indexed Options Against Against ShrHoldr 7 Report on Executive Compensation Against Against ShrHoldr 8 Redeem or Vote Poison Pill Against For ShrHoldr SSGA supports proposals that asks the company to submit it's poison pill to shareholder vote. 9 Review Executive Compensation Against Against ShrHoldr 10 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 20 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 INDUSTRIAL SELECT SECTOR SPDR FUND - J911
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 09/08/04 - A H&R BLOCK, INC. *HRB* 093671105 06/30/04 110,080 1 Elect Directors For For Mgmt 2 Increase Authorized Common Stock For For Mgmt 3 Amend Non-Employee Director Stock Option For For Mgmt Plan 4 Amend Stock Option Plan For For Mgmt 5 Ratify Auditors For For Mgmt 09/27/04 - A FEDEX CORPORATION *FDX* 31428X106 08/02/04 163,832 1 Elect Directors For For Mgmt 2 Declassify the Board of Directors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Ratify Auditors For For Mgmt 10/19/04 - A CINTAS CORP. *CTAS* 172908105 08/23/04 95,696 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Expense Stock Options Against Against ShrHoldr 4 Report on Vendor Standards For For ShrHoldr 10/27/04 - A PARKER-HANNIFIN CORP. *PH* 701094104 08/31/04 70,047 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Non-Employee Director Omnibus Stock For For Mgmt Plan 11/17/04 - A PALL CORP. *PLL* 696429307 09/28/04 87,043 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 02/01/05 - A EMERSON ELECTRIC CO. *EMR* 291011104 11/24/04 228,652 1 Elect Directors For For Mgmt 2 Approve Non-Employee Director Restricted For For Mgmt Stock Plan 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Ratify Auditors For For Mgmt 5 Amend Equal Employment Policy Regarding Against For ShrHoldr Sexual Orientation Emerson Electric has not been the subject of any recent, significant controversies related to discrimination based on sexual orientation. The company has established annual nondiscrimination training programs for all employees that specifically address discrimination based on sexual orientation. That said; the company has not included language
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 1 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 INDUSTRIAL SELECT SECTOR SPDR FUND - J911
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ specifically prohibiting discrimination based on sexual orientation in its formal EEO statement. The inclusion of such language in corporate EEO statements has become the norm at many large companies. Furthermore, the adoption of an EEO statement that includes reference to sexual orientation has proven beneficial to many companies through improved employee morale and increased access to certain consumer bases and pools of eligible candidates for employment. Therefore, considering the substantial benefits that may be recognized by amending an EEO statement to include language prohibiting discrimination based on sexual orientation, shareholders support for this proposal is warranted. 02/02/05 - A ROCKWELL AUTOMATION INC *ROK* 773903109 12/06/04 127,640 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 02/15/05 - A ROCKWELL COLLINS, INC. *COL* 774341101 12/17/04 122,552 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 02/23/05 - A DEERE & CO. *DE* 244199105 12/31/04 154,996 1 Elect Directors For For Mgmt 2 Amend Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 03/10/05 - A TYCO INTERNATIONAL LTD. *TYC* 902124106 01/10/05 1,258,140 MEETING FOR HOLDERS OF ADRS 1 Elect Directors For Split Mgmt 1.1 Elect Director Dennis C. Blair --- For 1.2 Elect Director Edward D. Breen --- For 1.3 Elect Director George W. Buckley --- For 1.4 Elect Director Brian Duperreault --- For 1.5 Elect Director Bruce S. Gordon --- For 1.6 Elect Director Rajiv L. Gupta --- For 1.7 Elect Director John A. Krol --- For 1.8 Elect Director Mackey J. Mcdonald --- Withhold Nominee is the CEO and Chair of VF Corporation and sits on 3 outside boards. 1.9 Elect Director H. Carl Mccall --- For
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 2 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 INDUSTRIAL SELECT SECTOR SPDR FUND - J911
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 1.10 Elect Director Brendan R. O'Neill --- For 1.11 Elect Director Sandra S. Wijnberg --- For 1.12 Elect Director Jerome B. York --- For 2 Ratify Auditors For For Mgmt 03/23/05 - A NAVISTAR INTERNATIONAL CORP. *NAV* 63934E108 02/17/05 70,378 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 04/13/05 - A CATERPILLAR INC. *CAT* 149123101 02/14/05 231,985 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Submit Shareholder Rights Plan (Poison Against For ShrHoldr Pill) to Shareholder Vote Because shareholder rights plans greatly alter the balance of power between shareholders and management, shareholders should be allowed to make their own evaluation of such plans. 4 Report on Equipment Sales to Israel Against Against ShrHoldr 5 Report on Operational Imact of HIV/AIDS, Against Against ShrHoldr TB, and Malaria Pandemic 6 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 04/13/05 - A UNITED TECHNOLOGIES CORP. *UTX* 913017109 02/15/05 338,723 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Increase Disclosure of Executive Against Against ShrHoldr Compensation 5 Adopt Ethical Criteria for Military Against Against ShrHoldr Contracts 6 Limit Executive Compensation Against Against ShrHoldr 04/19/05 - A DOVER CORP. *DOV* 260003108 02/28/05 153,551 1 Elect Directors For For Mgmt 2 Other Business For Against Mgmt Details of other business items not disclosed
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 3 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 INDUSTRIAL SELECT SECTOR SPDR FUND - J911
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 04/19/05 - A GOODRICH CORPORATION *GR* 382388106 02/28/05 114,458 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Amend Executive Incentive Bonus Plan For For Mgmt 04/20/05 - A BURLINGTON NORTHERN SANTA FE CORP. 12189T104 02/22/05 270,308 *BNI* 1 Elect Directors For Split Mgmt 1.1 Elect Director A.L. Boeckmann --- For 1.2 Elect Director V.S. Martinez --- Withhold WITHHOLD votes from Mark F. Racicot and Vilma S. Martinez for standing as affiliated outsiders on the Directors and Corporate Governance Committee which serves as the nominating committee. 1.3 Elect Director M.F. Racicot --- Withhold 1.4 Elect Director R.S. Roberts --- For 1.5 Elect Director M.K. Rose --- For 1.6 Elect Director M.J. Shapiro --- For 1.7 Elect Director J.C. Watts, Jr. --- For 1.8 Elect Director R.H. West --- For 1.9 Elect Director J.S. Whisler --- Withhold WITHHOLD votes from J. Steven Whisler for standing as affiliated outsiders on the audit and compensation committees. 1.10 Elect Director E.E. Whitacre, Jr. --- For 2 Ratify Auditors For For Mgmt 04/25/05 - A HONEYWELL INTERNATIONAL, INC. *HON* 438516106 02/25/05 567,259 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Amend the Certificate of Incorporation and For For Mgmt By-laws 5 Establish Other Board Committee Against Against ShrHoldr 6 Separate Chairman and CEO Positions Against Against ShrHoldr 7 Report on Pay Disparity Against Against ShrHoldr 8 Performance- Based/Indexed Options Against Against ShrHoldr 9 Approve Commonsense Executive Compensation Against Against ShrHoldr Framework 04/26/05 - A CENDANT CORPORATION *CD* 151313103 02/28/05 704,917 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 4 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 INDUSTRIAL SELECT SECTOR SPDR FUND - J911
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 3 Approve Outside Director Stock For For Mgmt Awards/Options in Lieu of Cash 4 Approve Qualified Employee Stock Purchase For For Mgmt Plan 5 Report on Pay Disparity Against Against ShrHoldr 6 Eliminate or Restrict Severance Agreements Against Against ShrHoldr (Change-in-Control) 04/26/05 - A COOPER INDUSTRIES LTD *CBE* G24182100 03/01/05 74,945 MEETING FOR HOLDERS OF ADR'S 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 SHAREHOLDER PROPOSAL REQUESTING COOPER TO Against Against ShrHoldr IMPLEMENT A CODE OF CONDUCT BASED ON INTERNATIONAL LABOR ORGANIZATION HUMAN RIGHTS STANDARDS. 04/26/05 - A L-3 COMMUNICATIONS HOLDINGS, INC. 502424104 03/18/05 70,314 *LLL* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/26/05 - A PACCAR INC. *PCAR* 693718108 02/28/05 126,364 1 Elect Directors For For Mgmt 2 Declassify the Board of Directors Against Against ShrHoldr 3 Amend Bylaws to Provide for Director Against Against ShrHoldr Nominees to be Elected by Majority Vote 04/27/05 - A EATON CORP. *ETN* 278058102 02/28/05 116,136 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/27/05 - A FLUOR CORP. *FLR* 343412102 03/02/05 74,087 1 Elect Directors For Split Mgmt 1.1 Elect Director Peter J. Fluor --- Withhold WITHHOLD votes from Peter J. Fluor for standing as an affiliated outsider on the Compensation and Nominating committees. 1.2 Elect Director David P. Gardner --- For 1.3 Elect Director Joseph W. Prueher --- For
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 5 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 INDUSTRIAL SELECT SECTOR SPDR FUND - J911
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 1.4 Elect Director Suzanne H. Woolsey --- For 2 Ratify Auditors For For Mgmt 3 Amend Governance Documents Regarding Against Against ShrHoldr Majority Votes for Directors 04/27/05 - A GENERAL ELECTRIC CO. *GE* 369604103 02/28/05 4,893,384 1 Elect Directors For Split Mgmt 1.1 Elect Director James I. Cash, Jr. --- For 1.2 Elect Director William M. Castell --- For 1.3 Elect Director Dennis D. Dammerman --- For 1.4 Elect Director Ann M. Fudge --- For 1.5 Elect Director Claudio X. Gonzalez --- Withhold WITHHOLD votes for sitting on more than four boards. 1.6 Elect Director Jeffrey R. Immelt --- For 1.7 Elect Director Andrea Jung --- For 1.8 Elect Director Alan G. Lafley --- For 1.9 Elect Director Ralph S. Larsen --- For 1.10 Elect Director Rochelle B. Lazarus --- For 1.11 Elect Director Sam Nunn --- For 1.12 Elect Director Roger S. Penske --- For 1.13 Elect Director Robert J. Swieringa --- For 1.14 Elect Director Douglas A. Warner III --- For 1.15 Elect Director Robert C. Wright --- For 2 Ratify Auditors For For Mgmt 3 Provide for Cumulative Voting Against Against ShrHoldr 4 Report on Nuclear Fuel Storage Risks Against Against ShrHoldr 5 Report on PCB Clean-up Costs Against Against ShrHoldr 6 Adopt Policy on Overboarded Directors Against Against ShrHoldr 7 Prepare a Sustainability Report Against Against ShrHoldr 8 Political Contributions/Activities Against Against ShrHoldr 9 Eliminate Animal Testing Against Against ShrHoldr 04/27/05 - A TEXTRON INC. *TXT* 883203101 03/04/05 104,971 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Separate Chairman and CEO Positions Against Against ShrHoldr 4 Performance- Based/Indexed Options Against For ShrHoldr SSGA supports performance-bsaed compensation.
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 6 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 INDUSTRIAL SELECT SECTOR SPDR FUND - J911
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 04/27/05 - A W.W. GRAINGER, INC. *GWW* 384802104 03/07/05 72,642 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 15%. 04/28/05 - A AVERY DENNISON CORP. *AVY* 053611109 02/28/05 85,505 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 04/28/05 - A LOCKHEED MARTIN CORP. *LMT* 539830109 03/01/05 286,497 1 Elect Directors For Split Mgmt 1.1 Elect Director E.C. 'Pete' Aldridge, Jr. --- For 1.2 Elect Director Nolan D. Archibald --- For 1.3 Elect Director Marcus C. Bennett --- For 1.4 Elect Director James O. Ellis, Jr. --- For 1.5 Elect Director Gwendolyn S. King --- For 1.6 Elect Director Douglas H. McCorkindale --- For 1.7 Elect Director Eugene F. Murphy --- For 1.8 Elect Director Joseph W. Ralston --- Withhold WITHHOLD votes from Frank Savage for standing as an affiliated outsider on the Compensation Committee and Joseph W. Ralston for standing as an affiliated outsider on the Nominating Committee. 1.9 Elect Director Frank Savage --- Withhold 1.10 Elect Director Anne Stevens --- For 1.11 Elect Director Robert J. Stevens --- For 1.12 Elect Director James R. Ukropina --- For 1.13 Elect Director Douglas C. Yearley --- For 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Performance-Based/Indexed Options Against Against ShrHoldr 5 Adopt Simple Majority Vote Requirement for Against For ShrHoldr All Issues A simple majority of voting shares should be sufficient
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 7 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 INDUSTRIAL SELECT SECTOR SPDR FUND - J911
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ to effect changes in a company's corporate governance. Requiring more than a simple majority may permit management to entrench itself by blocking amendments that are in shareholders' best interests. 6 Report on Pay Disparity Against Against ShrHoldr 7 and amend its code of conduct and policies Against Against ShrHoldr related to bidding Review Code of Conduct on Military Contracts 05/02/05 - A THE BOEING CO. *BA* 097023105 03/03/05 535,898 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Adopt Human Rights Policy Against Against ShrHoldr 4 Develop Ethical Criteria for Military Against Against ShrHoldr Contracts 5 Report on Political Contributions Against Against ShrHoldr 6 Declassify the Board of Directors Against Against ShrHoldr 7 Adopt Simple Majority Vote Requirement Against For ShrHoldr SSGA supports shareholder proposals seeking to eliminate supermajority vote requirements, as they may serve as entrenchment devices for management and therefore are not in the shareholders' best interest. 8 Establish Other Board Committee Against Against ShrHoldr 9 Separate Chairman and CEO Positions Against Against ShrHoldr 05/03/05 - A AMERICAN STANDARD COMPANIES INC. 029712106 03/10/05 162,807 *ASD* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/03/05 - A POWER-ONE, INC. *PWER* 739308104 03/11/05 162,742 1 Declassify the Board of Directors For For Mgmt 2 Elect Directors For For Mgmt 3 Ratify Auditors For For Mgmt 05/03/05 - A ROBERT HALF INTERNATIONAL INC. *RHI* 770323103 03/11/05 149,281 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For Against Mgmt The initiative cannot be supported as the total level of potential dilution under all plans is above the allowable cap of 15%. 3 Approve Executive Incentive Bonus Plan For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 8 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 INDUSTRIAL SELECT SECTOR SPDR FUND - J911
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 4 Ratify Auditors For For Mgmt 05/04/05 - A CSX CORP. *CSX* 126408103 03/04/05 158,118 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Subject Non-Deductible Executive Against Against ShrHoldr Compensation to Shareholder Vote 4 Adopt Simple Majority Vote Requirement Against For ShrHoldr SSGA support shareholder proposals seeking to eliminate supermajority vote requirements, as they may serve as entrenchment devices for management and therefore are not in the shareholders' best interest. 05/04/05 - A DANAHER CORP. *DHR* 235851102 03/07/05 211,813 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 05/04/05 - A GENERAL DYNAMICS CORP. *GD* 369550108 03/11/05 132,715 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Limit Executive Compensation Against Against ShrHoldr 4 Report on Foreign Weapons Sales Against Against ShrHoldr 05/04/05 - A RAYTHEON CO. *RTN* 755111507 03/09/05 302,325 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Amend Omnibus Stock Plan For For Mgmt 5 Amend Non-Employee Director Restricted For For Mgmt Stock Plan 6 Adopt MacBride Principles Against Against ShrHoldr 7 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 8 Require Director Nominee Qualifications Against Against ShrHoldr 05/05/05 - A UNION PACIFIC CORP. *UNP* 907818108 02/25/05 176,564 1 Elect Directors For Split Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 9 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 INDUSTRIAL SELECT SECTOR SPDR FUND - J911
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 1.1 Elect Director Philip F. Anschutz --- Withhold Philip F. Anschutz is a CEO director on the nominating committee. 1.2 Elect Director Erroll B. Davis, Jr. --- For 1.3 Elect Director Richard K. Davidson --- For 1.4 Elect Director Thomas J. Donohue --- For 1.5 Elect Director Archie W. Dunham --- For 1.6 Elect Director Spencer F. Eccles --- For 1.7 Elect Director Judith Richards Hope --- For 1.8 Elect Director Michael W. McConnell --- For 1.9 Elect Director Steven R. Rogel --- For 1.10 Elect Director James R. Young --- For 1.11 Elect Director Ernesto Zedillo Ponce de Leon --- For 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Performance- Based/Indexed Options Against Against ShrHoldr 05/05/05 - A UNITED PARCEL SERVICE, INC. *UPS* 911312106 03/07/05 697,410 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/06/05 - A ILLINOIS TOOL WORKS INC. *ITW* 452308109 03/08/05 192,042 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Implement China Principles Against Against ShrHoldr 4 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 05/06/05 - A RYDER SYSTEM, INC. *R* 783549108 03/11/05 70,859 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Amend Qualified Employee Stock Purchase Plan For For Mgmt 05/09/05 - A PITNEY BOWES INC. *PBI* 724479100 03/11/05 161,178 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 10 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 INDUSTRIAL SELECT SECTOR SPDR FUND - J911
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 05/10/05 - A 3M CO *MMM* 88579Y101 03/11/05 486,077 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Eliminate Animal Testing Against Against ShrHoldr 5 Implement China Principles Against Against ShrHoldr 05/10/05 - A CUMMINS , INC. *CMI* 231021106 03/21/05 52,968 1 Elect Directors For Split Mgmt 1.1 Elect Director Robert J. Darnall --- For 1.2 Elect Director John M. Deutch --- For 1.3 Elect Director Alexis M. Herman --- For 1.4 Elect Director William I. Miller --- Withhold William I. Miller is an affiliated outsider on the nominating committee. 1.5 Elect Director Georgia R. Nelson --- For 1.6 Elect Director Theodore M. Solso --- For 1.7 Elect Director Carl Ware --- For 1.8 Elect Director J. Lawrence Wilson --- For 2 Ratify Auditors For For Mgmt 3 Implement Labor Rights Standards in China Against Against ShrHoldr 05/10/05 - A ITT INDUSTRIES, INC. *ITT* 450911102 03/18/05 68,451 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 05/10/05 - A MASCO CORP. *MAS* 574599106 03/15/05 303,595 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/12/05 - A NORFOLK SOUTHERN CORP. *NSC* 655844108 03/07/05 284,155 1 Elect Directors For Split Mgmt 1.1 Elect Director Gerald L. Baliles --- Withhold WITHHOLD votes from Gerald L. Baliles for standing as an affiliated outsider on the Nominating Committee.
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 11 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 INDUSTRIAL SELECT SECTOR SPDR FUND - J911
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 1.2 Elect Director Gene R. Carter --- For 1.3 Elect Director Charles W. Moorman --- For 1.4 Elect Director J. Paul Reason --- For 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt 05/13/05 - A WASTE MANAGEMENT, INC. *WMI* 94106L109 03/18/05 380,975 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Privatization Against Against ShrHoldr 4 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 5 Report on Political Contributions Against Against ShrHoldr 6 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 05/17/05 - A EQUIFAX INC. *EFX* 294429105 03/09/05 113,525 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/17/05 - A NORTHROP GRUMMAN CORP. *NOC* 666807102 03/21/05 252,944 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors For For Mgmt 4 Amend Nonemployee Director Plan (Stock For For Mgmt Awards in Lieu of Cash) 5 Adopt Simply Majority Vote Requirement Against For ShrHoldr SSGA supports shareholder proposals seeking to eliminate supermajority vote requirements. 05/18/05 - A SOUTHWEST AIRLINES CO. *LUV* 844741108 03/23/05 519,917 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/19/05 - A DELTA AIR LINES, INC. *DAL* 247361108 03/25/05 158,810 1 Elect Directors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 12 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 INDUSTRIAL SELECT SECTOR SPDR FUND - J911
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ 2 Ratify Auditors For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Adopt Policy to Prohibit Discrimination Against Against ShrHoldr based on Sexual Orientation 5 Limit Executive Compensation Against Against ShrHoldr 6 Company-Specific--Compensation-Related Against Against ShrHoldr 7 Company-Specific--Compensation-Related Against Against ShrHoldr 8 Provide for Cumulative Voting Against Against ShrHoldr 9 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 05/20/05 - A ALLIED WASTE INDUSTRIES, INC. *AW* 019589308 04/01/05 264,956 1 Elect Directors For Split Mgmt 1.1 Elect Director Charles H. Cotros --- For 1.2 Elect Director Robert M. Agate --- For 1.3 Elect Director Leon D. Black --- For 1.4 Elect Director James W. Crownover --- For 1.5 Elect Director Michael S. Gross --- Withhold WITHHOLD votes from Michael S. Gross for sitting on more than four boards. 1.6 Elect Director Dennis R. Hendrix --- For 1.7 Elect Director J. Tomilson Hill --- For 1.8 Elect Director Nolan Lehmann --- For 1.9 Elect Director Howard A. Lipson --- For 1.10 Elect Director Antony P. Ressler --- For 2 Ratify Auditor For For Mgmt 3 Amend Non-Employee Director Omnibus Stock For For Mgmt Plan 05/26/05 - A R. R. DONNELLEY & SONS CO. *RRD* 257867101 04/01/05 191,957 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Limit Executive Compensation Against Against ShrHoldr 06/01/05 - A INGERSOLL-RAND COMPANY LIMITED G4776G101 04/04/05 120,213 MEETING FOR HOLDERS OF ADR'S 1 Elect Directors For For Mgmt 2 APPROVAL OF AMENDMENT TO BYE-LAW 10 OF THE For For Mgmt BYE-LAWS TO
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 13 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 INDUSTRIAL SELECT SECTOR SPDR FUND - J911
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ------------------------------------------------------------------------------------------------------------------------------------ ELIMINATE THE CLASSIFICATION OF THE BOARD OF DIRECTORS. 3 APPROVAL OF AMENDMENT TO BYE-LAW 10 OF THE For For Mgmt BYE-LAWS TO ELIMINATE CUMULATIVE VOTING IN THE ELECTION OF DIRECTORS. 4 Ratify Auditors For For Mgmt 06/09/05 - A AMERICAN POWER CONVERSION CORP. 029066107 04/13/05 144,834 *APCC* 1 Fix Number of Directors For For Mgmt 2 Elect Directors For For Mgmt 3 Ratify Auditors For For Mgmt 06/16/05 - A MONSTER WORLDWIDE, INC. *MNST* 611742107 05/04/05 115,812 1 Elect Directors For For Mgmt 2 Amend Non-Employee Director Omnibus Stock For For Mgmt Plan
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 14 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 MATERIALS SELECT SECTOR SPDR FUND - J910
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ----------------------------------------------------------------------------------------------------------------------------------- 09/30/04 - A WORTHINGTON INDUSTRIES INC. *WOR* 981811102 08/05/04 162,224 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 01/20/05 - A MONSANTO CO. *MON* 61166W101 11/22/04 572,738 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Report on Genetically Modified Organisms Against Against ShrHoldr 5 Report on Export of Hazardous Pesticides Against Against ShrHoldr 6 Adopt Human Rights Policy Against Against ShrHoldr 7 Eliminate Animal Testing Against Against ShrHoldr 01/27/05 - A AIR PRODUCTS & CHEMICALS, INC. *APD* 009158106 11/30/04 476,296 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/21/05 - A PPG INDUSTRIES, INC. *PPG* 693506107 02/22/05 378,755 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/21/05 - A WEYERHAEUSER CO. *WY* 962166104 02/25/05 507,310 1 Elect Directors For For Mgmt 2 Expense Stock Options Against Against ShrHoldr 3 Declassify the Board of Directors Against Against ShrHoldr 4 Performance- Based/Indexed Options Against For ShrHoldr SSGA supports performance-based compensation. 5 Report on Eliminating the Purchase of Against Against ShrHoldr Timber from National Forests 6 Ratify Auditors For For Mgmt 04/22/05 - A ALCOA INC. *AA* 013817101 01/24/05 1,803,233 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/22/05 - A ALLEGHENY TECHNOLOGIES, INC. *ATI* 01741R102 03/03/05 260,613 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Re-Approve Performance-Based Goals For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ----------------------------------------------------------------------------------------------------------------------------------- under Incentive Plan 04/26/05 - A MEADWESTVACO CORP. *MWV* 583334107 03/01/05 466,756 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 04/26/05 - A PRAXAIR, INC. *PX* 74005P104 03/01/05 741,146 1 Elect Directors For For Mgmt 2 Amend Non-Employee Director Stock Option For For Mgmt Plan 3 Ratify Auditors For For Mgmt 04/26/05 - A UNITED STATES STEEL CORP. *X* 912909108 02/25/05 267,909 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Approve Executive Incentive Bonus Plan For For Mgmt 04/27/05 - A BALL CORP. *BLL* 058498106 03/01/05 263,598 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Bundled Compensation Plans For For Mgmt 4 Increase Authorized Common Stock For Against Mgmt The number of additional authorized common shares sought in this proposal exceeds guidelines (129%). The company has not offered a specific purpose for the additional shares. 5 Declassify the Board of Directors Against Against ShrHoldr 04/27/05 - A E.I. DU PONT DE NEMOURS & CO. *DD* 263534109 03/07/05 2,346,643 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Government Service of Employees Against Against ShrHoldr 4 Implement ILO Code of Conduct Against Against ShrHoldr 5 Executive Compensation Against Against ShrHoldr 6 Eliminate Animal Testing Against Against ShrHoldr 7 Report on Genetically Modified Organisms Against Against ShrHoldr 8 Performance- Based/Indexed Options Against Against ShrHoldr 9 Report on PFOA Chemical Remediation Against Against ShrHoldr
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 2 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 MATERIALS SELECT SECTOR SPDR FUND - J910
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ----------------------------------------------------------------------------------------------------------------------------------- 04/27/05 - A NEWMONT MINING CORP. (HOLDING 651639106 03/03/05 873,148 COMPANY) *NEM* 1 Elect Directors For Split Mgmt 1.1 Elect Director Glen A. Barton --- For 1.2 Elect Director Vincent A. Calarco --- For 1.3 Elect Director Michael s. Hamson --- For 1.4 Elect Director Leo I. Higdon, Jr. --- For 1.5 Elect Director Pierre Lassonde --- For 1.6 Elect Director Robert J. Miller --- Withhold WITHHOLD votes from Robert J. Miller for standing as an affiliated outsider on the Nominating Committee. 1.7 Elect Director Wayne W. Murdy --- For 1.8 Elect Director Robin A. Plumbridge --- For 1.9 Elect Director John B. Prescott --- For 1.10 Elect Director Donald C. Roth --- For 1.11 Elect Director Seymour Schulich --- For 1.12 Elect Director James V. Taranik --- For 2 Ratify Auditors For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 05/02/05 - A LOUISIANA-PACIFIC CORP *LPX* 546347105 03/04/05 281,272 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/02/05 - A ROHM AND HAAS CO. *ROH* 775371107 03/04/05 538,310 1 Elect Directors For For Mgmt 2 Approve Non-Employee Director Stock Option For For Mgmt Plan 3 Amend 401(k)/Savings Plan For For Mgmt 4 Ratify Auditors For For Mgmt 5 Other Business For Against Mgmt Details of other business items not disclosed 05/03/05 - A GEORGIA-PACIFIC CORP. *GP* 373298108 03/01/05 594,715 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 4 Declassify the Board of Directors Against For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 3 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 MATERIALS SELECT SECTOR SPDR FUND - J910
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ----------------------------------------------------------------------------------------------------------------------------------- 05/03/05 - A SIGMA-ALDRICH CORP. *SIAL* 826552101 03/07/05 167,044 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/05/05 - A BEMIS COMPANY, INC. *BMS* 081437105 03/11/05 279,576 1 Elect Directors For Split Mgmt 1.1 Elect Director Edward N. Perry --- For 1.2 Elect Director William J. Scholle --- Withhold WITHHOLD votes from William J. Scholle for standing as an affiliated outsider on the Audit and Nominating committees. 1.3 Elect Director Timothy M. Manganello --- For 1.4 Elect Director Philip G. Weaver --- For 2 Amend Executive Incentive Bonus Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/05/05 - A EASTMAN CHEMICAL CO. *EMN* 277432100 03/15/05 199,254 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/05/05 - A ENGELHARD CORP. *EC* 292845104 03/15/05 310,339 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/05/05 - A FREEPORT-MCMORAN COPPER & GOLD INC. 35671D857 03/09/05 448,579 *FCX* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Executive Incentive Bonus Plan For For Mgmt 4 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 5 Review Payment Policy to Indonesian Military Against Against ShrHoldr 05/06/05 - A ECOLAB, INC. *ECL* 278865100 03/15/05 643,668 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Require a Majority Vote for the Election of Against Against ShrHoldr Directors 4 Ratify Auditors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 4 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 MATERIALS SELECT SECTOR SPDR FUND - J910
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ----------------------------------------------------------------------------------------------------------------------------------- 05/06/05 - A TEMPLE-INLAND INC. *TIN* 879868107 03/09/05 142,419 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/10/05 - A INTERNATIONAL FLAVORS & FRAGRANCES 459506101 03/22/05 220,195 INC. *IFF* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/10/05 - A INTERNATIONAL PAPER CO. *IP* 460146103 03/17/05 1,195,141 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Limit Executive Compensation Against Against ShrHoldr 05/12/05 - A NUCOR CORP. *NUE* 670346105 03/14/05 415,269 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Approve Omnibus Stock Plan For For Mgmt 05/12/05 - A THE DOW CHEMICAL COMPANY *DOW* 260543103 03/14/05 2,404,363 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Persistent Bioaccumulative and Against Against ShrHoldr Toxic Chemicals 05/13/05 - A VULCAN MATERIALS CO. *VMC* 929160109 03/21/05 239,364 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/20/05 - A PACTIV CORP. *PTV* 695257105 03/21/05 348,792 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/20/05 - A SEALED AIR CORP. *SEE* 81211K100 03/22/05 194,053 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Amend Executive Incentive Bonus Plan For For Mgmt 4 Ratify Auditors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 5 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 MATERIALS SELECT SECTOR SPDR FUND - J910
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted ----------------------------------------------------------------------------------------------------------------------------------- 05/27/05 - A PHELPS DODGE CORP. *PD* 717265102 04/07/05 243,702 1 Elect Directors For For Mgmt 2 Approve Executive Incentive Bonus Plan For For Mgmt 3 Increase Authorized Common Stock For For Mgmt 4 Ratify Auditors For For Mgmt 06/16/05 - A HERCULES INC. *HPC* 427056106 04/18/05 287,766 1 Elect Directors For Split Mgmt 1.1 Elect Director Anna Cheng Catalano --- For 1.2 Elect Director Burton M. Joyce --- For 1.3 Elect Director Jeffrey M. Lipton --- Withhold Jeffrey M. Lipton is an affiliated outsider on the compensation and nominating committee. 1.4 Elect Director John K. Wulff --- For 2 Ratify Auditors For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 02/25/05 - A PEOPLES ENERGY CORP. *PGL* 711030106 12/31/04 195,216 1 Elect Directors For For Mgmt 2 Submit Shareholder Rights Plan None For ShrHoldr (Poison Pill) to Shareholder Vote Because shareholder rights plans greatly alter the balance of power between shareholders and management, shareholders should be allowed to make their own evaluation of such plans. 04/05/05 - A SEMPRA ENERGY *SRE* 816851109 02/18/05 1,221,587 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Approve Option Expensing Against Against ShrHoldr 4 Declassify the Board of Directors Against For ShrHoldr Classified boards serve to entrench management and discourage bidders by preventing replacement of the board in one year. In addition, shareholders are prevented from removing board members who are not acting in the best interest of shareholders until their term is completed. 5 Performance-Based/Indexed Options Against Against ShrHoldr 6 Submit Shareholder Rights Plan Against For ShrHoldr (Poison Pill) to Shareholder Vote Because shareholder rights plans greatly alter the balance of power between shareholders and management, shareholders should be allowed to make their own evaluation of such plans. 04/20/05 - A PG&E CORP. *PCG* 69331C108 02/22/05 2,125,338 1 Elect Directors For Split Mgmt 1.1 Elect Director David R. Andrews --- For 1.2 Elect Director Leslie S. Biller --- For 1.3 Elect Director David A. Coulter --- Withhold WITHHOLD votes from David A. Coulter for standing as an affiliated outsider on the Nominating, Compensation, and Governance Committee. 1.4 Elect Director C. Lee Cox --- For 1.5 Elect Director Peter A. Darbee --- For 1.6 Elect Director Robert D. Glynn, Jr --- For 1.7 Elect Director Mary S. Metz --- For 1.8 Elect Director Barbara L. Rambo --- For 1.9 Elect Director Barry Lawson Williams --- For 2 Ratify Auditors For For Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 1 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 UTILITIES SELECT SECTOR SPDR FUND - J918
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 3 Approve Omnibus Stock Plan For For Mgmt 4 Expense Stock Options Against Against ShrHoldr 5 Adopt Policy on Nuclear Waste Storage Against Against ShrHoldr 6 Amend Terms of Existing Poison Pill Against Against ShrHoldr 7 Performance- Based/Indexed Options Against For ShrHoldr SSGA supports performance-based compensation. 8 Allow Vote on Golden Parachutes Against For ShrHoldr The compensation committee is not entirely independent therefore this proposal will be supported by SSGA 04/21/05 - A NICOR INC. *GAS* 654086107 02/22/05 234,023 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/22/05 - A DOMINION RESOURCES, INC. *D* 25746U109 02/25/05 1,759,886 1 Elect Directors For For Mgmt 2 Approve Non-Employee Director Omnibus Stock Plan For For Mgmt 3 Approve Omnibus Stock Plan For For Mgmt 4 Ratify Auditors For For Mgmt 5 Report on Greenhouse Gas Emissions Against Against ShrHoldr 04/22/05 - A PPL CORP. *PPL* 69351T106 02/28/05 979,867 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/26/05 - A AMEREN CORPORATION *AEE* 023608102 03/04/05 1,017,867 1 Elect Directors For Split Mgmt 1.1 Elect Director Susan S. Elliott --- For 1.2 Elect Director Gayle P.W. Jackson --- For 1.3 Elect Director James C. Johnson --- For 1.4 Elect Director Richard A. Liddy --- For 1.5 Elect Director Gordon R. Lohman --- For 1.6 Elect Director Richard A. Lumpkin --- For 1.7 Elect Director Paul L. Miller, Jr. --- For 1.8 Elect Director Charles W. Mueller --- For 1.9 Elect Director Douglas R. Oberhelman --- Withhold Douglas R. Oberhelman is an affiliated outsider on
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 2 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 UTILITIES SELECT SECTOR SPDR FUND - J918
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- the audit committee. 1.10 Elect Director Gary L. Rainwater --- For 1.11 Elect Director Harvey Saligman --- For 1.12 Elect Director Patrick T. Stokes --- For 2 Ratify Auditors For For Mgmt 3 Report on Risks of Nuclear Waste Against Against ShrHoldr Storage 4 Require Independent Director To Against Against ShrHoldr Serve As Chairman Of The Board 04/26/05 - A AMERICAN ELECTRIC POWER CO. *AEP* 025537101 03/02/05 2,072,970 1 Elect Directors For Split Mgmt 1.1 Elect Director E.R. Brooks --- Withhold WITHHOLD votes from E.R. Brooks for standing as an affiliated outsider on the Compensation Committee. 1.2 Elect Director Donald M. Carlton --- For 1.3 Elect Director John P. DesBarres --- For 1.4 Elect Director Robert W. Fri --- For 1.5 Elect Director William R. Howell --- For 1.6 Elect Director Lester A. Hudson, Jr. --- For 1.7 Elect Director Michael G. Morris --- For 1.8 Elect Director Lionel L. Nowell III --- For 1.9 Elect Director Richard L. Sandor --- For 1.10 Elect Director Donald G. Smith --- For 1.11 Elect Director Kathryn D. Sullivan --- For 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Submit Executive Retirement Plan to Against For ShrHoldr Shareholder Vote The compensation committee is not entirely independent, therefore the proposal will be supported. 04/27/05 - A TECO ENERGY, INC. *TE* 872375100 02/17/05 990,506 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 04/28/05 - A DTE ENERGY CO. *DTE* 233331107 02/28/05 899,345 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 04/28/05 - A THE AES CORP. *AES* 00130H105 03/03/05 3,395,270 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/05/05 - A CINERGY CORP. *CIN* 172474108 03/04/05 999,271 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/10/05 - A NISOURCE INC. *NI* 65473P105 03/15/05 1,372,779 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Amend Omnibus Stock Plan For For Mgmt 4 Amend Qualified Employee Stock For For Mgmt Purchase Plan 5 Declassify the Board of Directors Against Against ShrHoldr 6 Require a Majority Vote for the Against Against ShrHoldr Election of Directors 05/11/05 - A PROGRESS ENERGY, INC. *PGN* 743263105 03/04/05 1,290,936 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/12/05 - A ALLEGHENY ENERGY, INC. *AYE* 017361106 03/17/05 717,179 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Management to Retain Stock Against Against ShrHoldr 4 Separate Chairman and CEO Positions Against Against ShrHoldr 5 Adopt Policy on Overboarded Against Against ShrHoldr Directors 6 Performance- Based/Indexed Options Against For ShrHoldr SSGA supports performance-based compensation. 05/12/05 - A DUKE ENERGY CORP. *DUK* 264399106 03/14/05 4,792,713 1 Elect Directors For For Mgmt 2 Declassify the Board of Directors For For Mgmt 3 Ratify Auditors For For Mgmt 05/13/05 - A ENTERGY CORP. *ETR* 29364G103 03/16/05 1,136,653 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Require the Chairman of the Board Against Against ShrHoldr Be an Independent Director 4 Require a Majority Vote for the Against Against ShrHoldr Election of Directors
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 4 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 UTILITIES SELECT SECTOR SPDR FUND - J918
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 05/16/05 - A CONSOLIDATED EDISON, INC. *ED* 209115104 03/28/05 1,303,907 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Executive Compensation Against Against ShrHoldr 05/17/05 - A FIRSTENERGY CORPORATION *FE* 337932107 03/22/05 1,656,260 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Report on Political Contributions Against Against ShrHoldr 4 Amend Vote Requirements to Amend Against For ShrHoldr Articles/Bylaws/Charter SSGA supports proposals that ask the company to reduce its supermajority vote requirements. 5 Performance- Based/Indexed Options Against Against ShrHoldr 05/18/05 - A PINNACLE WEST CAPITAL CORP. *PNW* 723484101 03/18/05 477,504 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/19/05 - A DYNEGY, INC. *DYN* 26816Q101 03/31/05 1,763,919 1 Elect Directors For Split Mgmt 1.1 Elect Director Charles E. Bayless --- For 1.2 Elect Director David W. Biegler --- For 1.3 Elect Director Linda Walker Bynoe --- For 1.4 Elect Director Thomas D. Clarke, Jr. --- For 1.5 Elect Director Barry J. Galt --- Withhold WITHHOLD votes from Barry J. Galt for standing as an affiliated outsider on the Audit and Compensation committees. 1.6 Elect Director Patricia A. Hammick --- For 1.7 Elect Director George L. Mazanec --- For 1.8 Elect Director Robert C. Oelkers --- For 1.9 Elect Director Joe J. Stewart --- For 1.10 Elect Director William L. Trubeck --- For 1.11 Elect Director Bruce A. Williamson --- For
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 5 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 UTILITIES SELECT SECTOR SPDR FUND - J918
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 2 Change State of Incorporation from For For Mgmt Illinois to Delaware 3 Ratify Auditors For For Mgmt 4 Claw-Back of Awards Under Against Against ShrHoldr Restatement 05/19/05 - A EDISON INTERNATIONAL *EIX* 281020107 03/21/05 1,821,110 1 Elect Directors For For Mgmt 2 Submit Severance Agreement Against Against ShrHoldr (Change-in-Control) to Shareholder Vote 05/20/05 - A CMS ENERGY CORP. *CMS* 125896100 03/31/05 1,027,467 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/20/05 - A CONSTELLATION ENERGY GROUP, INC. 210371100 03/18/05 917,122 *CEG* 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/20/05 - A FPL GROUP, INC. *FPL* 302571104 03/22/05 1,864,026 1 Elect Directors For Split Mgmt 1.1 Elect Director Director H. Jesse Arnelle --- For 1.2 Elect Director Director Sherry S. Barrat --- For 1.3 Elect Director Director Robert M. Beall, II --- For 1.4 Elect Director Director J. Hyatt Brown --- Withhold We recommend a vote FOR the director with the exception of independent outsider J. Hyatt Brown. We recommend that shareholders WITHHOLD votes from J. Hyatt Brown for sitting on more than four boards. 1.5 Elect Director Director James L. Camaren --- For 1.6 Elect Director Director Lewis Hay, III --- For 1.7 Elect Director Director Rudy E. Schupp --- For 1.8 Elect Director Director Michael H. Thaman --- For 1.9 Elect Director Director Hansel E. Tookes, II --- For
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 6 VOTE SUMMARY REPORT Jul 01, 2004 - Jun 30, 2005 UTILITIES SELECT SECTOR SPDR FUND - J918
Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 1.10 Elect Director Director Paul R. Tregurtha --- For 1.11 Elect Director Director Frank G. Zarb --- For 2 Ratify Auditors For For Mgmt 05/20/05 - A KEYSPAN CORPORATION *KSE* 49337W100 03/22/05 805,241 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 05/20/05 - A TXU CORP. *TXU* 873168108 03/21/05 1,342,753 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Ratify Auditors For For Mgmt 05/25/05 - A CALPINE CORP. *CPN* 131347106 04/01/05 2,827,976 1 Elect Directors For For Mgmt 2 Declassify the Board of Directors For For Mgmt 3 Ratify Auditors For For Mgmt 05/25/05 - A SOUTHERN COMPANY *SO* 842587107 03/28/05 3,985,485 1 Elect Directors For Split Mgmt 1.1 Elect Director Daniel P. Amos --- For 1.2 Elect Director Dorrit J. Bern --- For 1.3 Elect Director Francis S. Blake --- Withhold Francis S. Blake is an affiliated outsider on the audit committee. 1.4 Elect Director Thomas F. Chapman --- Withhold Thomas F. Chapman is an affiliated director on the compensation and nominating committees. 1.5 Elect Director Bruce S. Gordon --- For 1.6 Elect Director Donald M. James --- Withhold Donald M. James is an affiliated outsider on the audit committee. 1.7 Elect Director Zack T. Pate --- For 1.8 Elect Director J. Neal Purcell --- For 1.9 Elect Director David M. Ratcliffe --- For 1.10 Elect Director Gerald J. St. Pe --- For 2 Ratify Auditors For For Mgmt 3 Report on Political Contributions Against Against ShrHoldr
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Mtg Company/ Mgmt Vote Record Shares Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted --------------------------------------------------------------------------------------------------------------------- 05/25/05 - A XCEL ENERGY INC. *XEL* 98389B100 03/28/05 2,153,926 1 Elect Directors For For Mgmt 2 Approve Omnibus Stock Plan For For Mgmt 3 Approve Executive Incentive Bonus For For Mgmt Plan 4 Ratify Auditors For For Mgmt 06/02/05 - A CENTERPOINT ENERGY INC *CNP* 15189T107 04/04/05 1,534,640 1 Elect Directors For For Mgmt 2 Ratify Auditors For For Mgmt 3 Declassify the Board of Directors Against Against ShrHoldr 4 Other Business Against Against Mgmt
-------------------------------------------------------------------------------- Mgmt Rec - Company Management Recommended Vote Page 8 SIGNATURES Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. The Select Sector SPDR Trust (Registrant) By: /s/Gary L. French ------------------ Gary L. French President Date: August 31, 2005 ---------------------------