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

                                    FORM N-PX

               ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
                          MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-10273
                                  ----------------------------------------------

                 Morgan Stanley International Value Equity Fund
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               (Exact name of registrant as specified in charter)

1221 Avenue of the Americas, New York, New York                          10020
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    (Address of principal executive offices)                          (Zip code)

                               Amy Doberman, Esq.

                                Managing Director

                     Morgan Stanley Investment Advisors Inc.

                           1221 Avenue of the Americas

                            New York, New York 10020
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                     (Name and address of agent for service)

Registrant's telephone number, including area code: 800-869-6397
                                                   -----------------------------

Date of fiscal year end: 8/31
                        -----------------------

Date of reporting period: 7/1/05 - 6/30/06
                         ----------------------









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

ICA File Number: 811-10273
Reporting Period: 07/01/2005 - 06/30/2006
Morgan Stanley International Value Equity Fund









================ MORGAN STANLEY INTERNATIONAL VALUE EQUITY FUND ================


ABN AMRO HOLDING NV

Ticker:       ABNHF          Security ID:  NL0000301109
Meeting Date: APR 27, 2006   Meeting Type: Annual
Record Date:  APR 20, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Minutes of Previous Meeting       None      None       Management
2     Receive Report of Management Board        None      None       Management
3a    Approve Financial Statements and          For       For        Management
      Statutory Reports
3b    Approve Dividends of EUR 1.10 Per Share   For       For        Management
3c    Approve Discharge of Management Board     For       For        Management
3d    Approve Discharge of Supervisory Board    For       For        Management
4     Approve Remuneration Report Containing    For       For        Management
      Remuneration Policy for Management Board
      Members
5     Approve Amendments to Remuneration of     For       For        Management
      Supervisory Board
6     Approve Company's Corporate Governance    For       For        Management
      Structure
7a    Elect G.J. Kramer to Supervisory Board    For       For        Management
7b    Elect G. Randa to Supervisory Board       For       For        Management
7c    Reelect A.C. Martinez to Supervisory      For       For        Management
      Board
8     Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
9a    Grant Board Authority to Issue Ordinary   For       For        Management
      Shares, Convertible Preference Shares and
      Preference Financing Shares Up To 20
      Percent of Issued Capital
9b    Authorize Board to Exclude Preemptive     For       For        Management
      Rights from Issuance Under Item 9a
10    Any Other Business (Non-Voting)           None      None       Management


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ABN AMRO HOLDING NV

Ticker:       ABNHF          Security ID:  NL0000301109
Meeting Date: NOV 24, 2005   Meeting Type: Special
Record Date:  NOV 17, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
a     Discuss Corporate Governance re: Election None      None       Management
      New Management Board Members
b     Elect Huibert Boumeester to Management    For       For        Management
      Board
c     Elect Pieter Overmars to Management Board For       For        Management
d     Elect Ronald Teerlink to Management Board For       For        Management


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AKZO-NOBEL NV

Ticker:       AKZOY          Security ID:  NL0000009132
Meeting Date: APR 25, 2006   Meeting Type: Annual
Record Date:  APR 18, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Open Meeting                              None      None       Management
2     Receive Report of Management Board        None      None       Management
3a    Approve Financial Statements and          For       For        Management
      Statutory Reports
3b    Approve Dividends of EUR 1.20 Per Share   For       For        Management
4a    Approve Discharge of Management Board     For       For        Management
4b    Approve Discharge of Supervisory Board    For       For        Management
5     Elect L.R. Hughes and A. Burgmans as      For       For        Management
      Director; Reelect K. Vuursteen and A.
      Merieux to Supervisory Board
6     Approve Remuneration of Supervisory Board For       For        Management
7     Amend Remuneration Policy for Management  For       For        Management
      Board Members
8     Determination of Maximum Number of Shares For       For        Management
      Available for Long-Term Incentive Plans
9a    Grant Board Authority to Issue Shares Up  For       For        Management
      To 10 Percent of Issued Capital Plus
      Additional 10 Percent in Case of
      Takeover/Merger
9b    Authorize Board to Exclude Preemptive     For       For        Management
      Rights from Issuance Under Item 9a
10    Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
11    Other Business (Non-Voting)               None      None       Management


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ALLIED DOMECQ PLC

Ticker:       ALDQF          Security ID:  GB0007294571
Meeting Date: JUL 4, 2005    Meeting Type: Court
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Scheme of Arrangement             For       For        Management


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ALLIED DOMECQ PLC

Ticker:       ALDQF          Security ID:  GB0007294571
Meeting Date: JUL 4, 2005    Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Scheme of Arrangement; Approve    For       For        Management
      Capital Re-organization; Amend Articles
      of Association


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ARCELOR S.A.

Ticker:                      Security ID:  LU0140205948
Meeting Date: APR 28, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Reports of the Board of Directors None      None       Management
      and of the Auditor on the Financial
      Statements and Consolidated Financial
      Statements for the 2005 Fiscal Year
2     Accept Financial Statements for the 2005  For       For        Management
      Fiscal Year
3     Accept Consolidated Financial for the     For       For        Management
      2005 Fiscal Year
4     Approve Remuneration of Directors         For       For        Management
5     Approve Allocation of Income and          For       For        Management
      Dividends
6     Approve Discharge of Directors            For       Against    Management
7     Elect Ulrich Hartmann as Director         For       For        Management
8     Elect Joseph Kinsch as Director           For       For        Management
9     Elect Edmond Paschura as Director         For       For        Management
10    Elect Fernand Wagner as Director          For       For        Management
11    Elect Hedwig De Koker as Director         For       For        Management
12    Elect Jean-Pierre Hansen as Director      For       For        Management
13    Elect Daniel Melin as Director            For       For        Management
14    Elect Sergio Silva de Freitas as Director For       For        Management
15    Elect John Castegnaro as Director         For       For        Management
16    Elect Manuel Fernandez Lopez as Director  For       For        Management
17    Elect Francisco Javier de la Riva Garriga For       For        Management
      as Director
18    Elect Jose Ramon Alvarez Rendueles as     For       For        Management
      Director
19    Elect Corporacion JMAC B.V. as Director   For       For        Management
20    Elect Jean-Yves Durance as Director       For       For        Management
21    Elect S.A.R. le Prince Guillaume de       For       For        Management
      Luxembourg as Director
22    Elect Georges Schmit as Director          For       For        Management
23    Approve Share Repurchase Program          For       Against    Management
24    Ratify KPMG Audit as Auditors             For       For        Management


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ARCELOR S.A.

Ticker:                      Security ID:  LU0140205948
Meeting Date: JUN 30, 2006   Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Review of Mittal Steel's Public Exchange  None      None       Management
      Offer on All of ARCELOR's Shares and
      Convertible Bonds
2     Approve Option Offered by the SeverStal   For       Against    Management
      Transaction for the ARCELOR Shareholders
3     Approve Procedure for Approving the       Against   For        Shareholder
      SeverStal Transaction and the Issuance of
      New Arcelor Shares in Favor of Mr.
      Mordashov


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ASATSU-DK INC.

Ticker:       9747           Security ID:  JP3109800007
Meeting Date: MAR 30, 2006   Meeting Type: Annual
Record Date:  DEC 31, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 10,
      Final JY 21, Special JY 5
2     Amend Articles to: Authorize Board to     For       Against    Management
      Determine Income Allocation - Delete
      Requirement to Reduce Authorized Capital
      in Proportion to Share Cancellation -
      Authorize Public Announcements in
      Electronic Format
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
3.4   Elect Director                            For       For        Management
3.5   Elect Director                            For       For        Management
3.6   Elect Director                            For       For        Management
3.7   Elect Director                            For       For        Management
3.8   Elect Director                            For       For        Management
3.9   Elect Director                            For       For        Management
3.10  Elect Director                            For       For        Management
3.11  Elect Director                            For       For        Management
3.12  Elect Director                            For       For        Management
4     Appoint Internal Statutory Auditor        For       For        Management
5     Approve Retirement Bonus for Statutory    For       Against    Management
      Auditor


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ASTELLAS PHARMA INC. (FRMLY. YAMANOUCHI PHARMACEUTICAL CO. LTD.)

Ticker:       4503           Security ID:  JP3942400007
Meeting Date: JUN 27, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 30,
      Final JY 40, Special JY 0
2     Amend Articles to: Limit Non-Executive    For       For        Management
      Directors' and Statutory Auditors' Legal
      Liability - Authorize Public
      Announcements in Electronic Format -
      Limit Rights of Odd-Lot Holders - Update
      Terminoloy to Match that of New Corporate
      Law
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
4     Appoint Internal Statutory Auditor        For       For        Management
5     Approve Amendment to Director             For       For        Management
      Compensation Ceiling and Deep Discount
      Stock Option Plan for Directors


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ASTRAZENECA PLC (FORMERLY ZENECA PLC)

Ticker:       AZNCF          Security ID:  GB0009895292
Meeting Date: APR 27, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve First Interim Dividend of USD     For       For        Management
      0.38 (21.9 pence, SEK2.99)Per Ordinary
      Share and to Confirm a Final Dividend of
      USD 0.92 (51.8 Pence, SEK7.02) Per
      Ordinary Share
3     Reappoint KPMG Audit Plc as Auditors of   For       For        Management
      the Company
4     Authorise Board to Fix Remuneration of    For       For        Management
      Auditors
5a    Re-elect Louis Schweitzer as Director     For       For        Management
5b    Re-elect Hakan Mogren as Director         For       For        Management
5c    Elect David Brennan as Director           For       For        Management
5d    Re-elect Jonathan Symonds as Director     For       For        Management
5e    Elect John Patterson as Director          For       For        Management
5f    Re-elect Sir Peter Bonfield as Director   For       For        Management
5g    Re-elect John Buchanan as Director        For       For        Management
5h    Re-elect Jane Henney as Director          For       Against    Management
5i    Re-elect Michele Hooper as Director       For       For        Management
5j    Re-elect Joe Jimenez as Director          For       For        Management
5k    Re-elect Erna Moller as Director          For       For        Management
5l    Re-elect Marcus Wallenberg as Director    For       For        Management
5m    Elect Darne Rothwell as Director          For       For        Management
6     Approve Remuneration Report               For       For        Management
7     Approve EU Political Donations and Incur  For       For        Management
      EU Political Expenditure up to USD
      150,000
8     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      USD 131,364,668
9     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of USD 19,704,700
10    Authorise Ten Percent of the Company's    For       For        Management
      Issued Share Capital for Market Purchase


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BAA PLC

Ticker:                      Security ID:  GB0000673409
Meeting Date: JUL 15, 2005   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 14.3 Pence Per  For       For        Management
      Ordinary Share
4     Re-elect Marcus Agius as Director         For       For        Management
5     Re-elect Mark Clare as Director           For       For        Management
6     Re-elect Chris Fay as Director            For       For        Management
7     Reappoint PricewaterhouseCooopers LLP as  For       For        Management
      Auditors of the Company
8     Authorise Board to Fix Remuneration of    For       For        Management
      the Auditors
9     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 53,826,000
10    Amend BAA Deferred Annual Bonus Plan      For       For        Management
11    Amend Articles of Association Re:         Against   Against    Management
      Shareholder Approval for the Submission
      of Planning Applications for Documents
      Above a Certain Value


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BARCLAYS PLC

Ticker:       BCLYF          Security ID:  GB0031348658
Meeting Date: APR 27, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Elect Fulvio Conti as Director            For       For        Management
4     Elect Danie Cronje as Director            For       For        Management
5     Elect Robert Diamond Jr. as Director      For       For        Management
6     Elect Robert Steel as Director            For       For        Management
7     Elect John Sunderland as Director         For       For        Management
8     Re-elect Dame Dawson as Director          For       For        Management
9     Re-elect Sir Richard Broadbent as         For       For        Management
      Director
10    Re-elect Gary Hoffman as Director         For       For        Management
11    Re-elect Naguib Kheraj as Director        For       For        Management
12    Re-elect Sir Nigel Rudd as Director Nigel For       For        Management
      Rudd as Director
13    Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors of the Company
14    Authorize Board to Fix Remuneration of    For       For        Management
      Auditors
15    Authorise the Company to make EU          For       For        Management
      Political Organisation Donations up to
      GBP 25,000 and Incur EU Political
      Expenditure up to GBP 25,000
16    Authorise Barclays Bank plc to make EU    For       For        Management
      Political Organisation Donations up to
      GBP 100,000 and Incur EU Political
      Expenditure up to GBP 100,000
17    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 541,215,604
18    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 81,182,340
19    Authorise 968,600,000 Ordinary Shares for For       For        Management
      Market Purchase


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BAYER AG

Ticker:       BAYZF          Security ID:  DE0005752000
Meeting Date: APR 28, 2006   Meeting Type: Annual
Record Date:  APR 7, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Receive Financial Statements and          For       For        Management
      Statutory Reports; Allocation of Income
      and Dividends of EUR 0.95 per Share
2     Approve Discharge of Management Board for For       For        Management
      Fiscal 2005
3     Approve Discharge of Supervisory Board    For       For        Management
      for Fiscal 2005
4.1   Approve Creation of EUR 465 Million Pool  For       For        Management
      of Capital without Preemptive Rights
      (Authorized Capital I)
4.2   Approve Creation of 186 Million Pool of   For       For        Management
      Capital with Preemptive Rights
      (Authorized Capital II)
5     Amend Articles Re: Conducting of          For       For        Management
      Shareholder Meetings due to New German
      Legislation (Law on Company Integrity and
      Modernization of the Right of Avoidance)
6     Authorize Share Repurchase Program and    For       For        Management
      Reissuance of Repurchased Shares
7     Approve Affiliation Agreements with a     For       For        Management
      Subsidiary (Bayfin GmbH)
8     Ratify PricewaterhouseCoopers AG as       For       For        Management
      Auditors for Fiscal 2006


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BAYERISCHE MOTOREN WERKE AG (BMW)

Ticker:                      Security ID:  DE0005190003
Meeting Date: MAY 16, 2006   Meeting Type: Annual
Record Date:  APR 25, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Receive Financial Statements and          None      None       Management
      Statutory Reports
2     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 0.64 per Common Share
      and EUR 0.66 per Preference Sharee
3     Approve Discharge of Management Board for For       For        Management
      Fiscal 2005
4     Approve Discharge of Supervisory Board    For       For        Management
      for Fiscal 2005
5     Ratify KPMG Deutsche                      For       For        Management
      Treuhand-Gesellschaft Aktiengesellschaft
      as Auditors for Fiscal 2006
6     Elect Heinz-Joachim Neubuerger to the     For       For        Management
      Supervisory Board
7     Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital


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BHP BILLITON PLC (FORMERLY BILLITON PLC)

Ticker:                      Security ID:  GB0000566504
Meeting Date: OCT 20, 2005   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports for BHP Billiton Plc
2     Accept Financial Statements and Statutory For       For        Management
      Reports for BHP Billiton Ltd.
3     Elect Carlos Cordeiro as Director of BHP  For       For        Management
      Billiton Plc
4     Elect Carlos Cordeiro as Director of BHP  For       For        Management
      Billiton Ltd.
5     Elect Gail de Planque as Director of BHP  For       For        Management
      Billiton Plc
6     Elect Gail de Planque as Director of BHP  For       For        Management
      Billiton Ltd.
7     Re-elect David Crawford as Director of    For       For        Management
      BHP Billiton Plc
8     Re-elect David Crawford as Director of    For       For        Management
      BHP Billiton Ltd.
9     Re-elect David Jenkins as Director of BHP For       For        Management
      Billiton Plc
10    Re-elect David Jenkins as Director of BHP For       For        Management
      Billiton Ltd.
11    Re-elect Mike Salamon as Director of BHP  For       For        Management
      Billiton Plc
12    Re-elect Mike Salamon as Director of BHP  For       For        Management
      Billiton Ltd.
13    Reappoint KPMG Audit Plc as Auditors of   For       For        Management
      BHP Billiton Plc and Authorise the Board
      to Determine Their Remuneration
14    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      USD 265,926,499
15    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of USD 61,703,675
16    Authorise 246,814,700 BHP Billiton Plc    For       For        Management
      Ordinary Shares for Market Purchase
17    Approve Remuneration Report               For       For        Management
18    Approve Grant of Deferred Shares and      For       For        Management
      Options under the BHP Billiton Ltd. Group
      Incentive Scheme and Grant of Performance
      Shares under the BHP Billiton Ltd. Long
      Term Incentive Plan to Charles Goodyear
19    Approve Grant of Deferred Shares and      For       For        Management
      Options under the Amended BHP Billiton
      Plc Group Incentive Scheme and Grant of
      Performance Shares under the BHP Billiton
      Plc Long Term Incentive Plan to Mike
      Salamon
20    Amend Articles of Association of BHP      For       For        Management
      Billiton Plc
21    Amend the Constitution of BHP Billiton    For       For        Management
      Ltd.


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BNP PARIBAS SA (FM. BANQUE NATIONALE DE PARIS)

Ticker:       BNPQF          Security ID:  FR0000131104
Meeting Date: MAY 23, 2006   Meeting Type: Annual/Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
2     Approve Financial Statements and          For       For        Management
      Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 2.60 per Share
4     Approve Special Auditors' Report          For       For        Management
      Regarding Related-Party Transactions
5     Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
6     Elect Laurence Parisot as Director        For       For        Management
7     Reelect Claude Bebear as Director         For       For        Management
8     Reelect Jean-Louis Beffa as Director      For       For        Management
9     Reelect Alain Joly as Director            For       For        Management
10    Reelect Denis Kessler as Director         For       For        Management
11    Reelect Michel Pebereau as Director       For       For        Management
12    Ratify Deloitte & Associes as Auditor and For       For        Management
      BEAS as Alternate Auditor
13    Ratify Mazars & Guerard as Auditor and    For       For        Management
      Michel Barbet-Massin as Alternate Auditor
14    Ratify PricewaterhouseCoopers Audit as    For       For        Management
      Auditor and Pierre Coll as Alternate
      Auditor
15    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities
16    Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities with Preemptive
      Rights up to Aggregate Nominal Amount of
      EUR 1 Billion
17    Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities without
      Preemptive Rights up to Aggregate Nominal
      Amount of EUR 320 Million
18    Authorize Capital Increase of up to 10    For       For        Management
      Percent of Issued Capital for Future
      Acquisitions
19    Authorize Capitalization of Reserves of   For       For        Management
      Up to EUR 1 Billion for Bonus Issue or
      Increase in Par Value
20    Set Global Limit for Capital Increase to  For       For        Management
      Result from All Issuance Requests at EUR
      1 Billion
21    Amend Resolution 14 Adopted by General    For       For        Management
      Meeting on May 18, 2005: Set Global Limit
      for Capital Increase Resulting from
      Granting of Options and Free Shares
22    Approve Employee Savings-Related Share    For       For        Management
      Purchase Plan
23    Approve Reduction in Share Capital via    For       For        Management
      Cancellation of Repurchased Shares
24    Approve Merger by Absorption of Societe   For       For        Management
      Centrale d'Investissements by BNP Paribas
25    Amend Articles Board Related Re:          For       For        Management
      Elections of Employee Representative
26    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities


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BNP PARIBAS SA (FM. BANQUE NATIONALE DE PARIS)

Ticker:       BNPQF          Security ID:  FR0010272641
Meeting Date: MAY 23, 2006   Meeting Type: Annual/Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
2     Approve Financial Statements and          For       For        Management
      Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 2.60 per Share
4     Approve Special Auditors' Report          For       For        Management
      Regarding Related-Party Transactions
5     Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
6     Elect Laurence Parisot as Director        For       For        Management
7     Reelect Claude Bebear as Director         For       For        Management
8     Reelect Jean-Louis Beffa as Director      For       For        Management
9     Reelect Alain Joly as Director            For       For        Management
10    Reelect Denis Kessler as Director         For       For        Management
11    Reelect Michel Pebereau as Director       For       For        Management
12    Ratify Deloitte & Associes as Auditor and For       For        Management
      BEAS as Alternate Auditor
13    Ratify Mazars & Guerard as Auditor and    For       For        Management
      Michel Barbet-Massin as Alternate Auditor
14    Ratify PricewaterhouseCoopers Audit as    For       For        Management
      Auditor and Pierre Coll as Alternate
      Auditor
15    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities
16    Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities with Preemptive
      Rights up to Aggregate Nominal Amount of
      EUR 1 Billion
17    Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities without
      Preemptive Rights up to Aggregate Nominal
      Amount of EUR 320 Million
18    Authorize Capital Increase of up to 10    For       For        Management
      Percent of Issued Capital for Future
      Acquisitions
19    Authorize Capitalization of Reserves of   For       For        Management
      Up to EUR 1 Billion for Bonus Issue or
      Increase in Par Value
20    Set Global Limit for Capital Increase to  For       For        Management
      Result from All Issuance Requests at EUR
      1 Billion
21    Amend Resolution 14 Adopted by General    For       For        Management
      Meeting on May 18, 2005: Set Global Limit
      for Capital Increase Resulting from
      Granting of Options and Free Shares
22    Approve Employee Savings-Related Share    For       For        Management
      Purchase Plan
23    Approve Reduction in Share Capital via    For       For        Management
      Cancellation of Repurchased Shares
24    Approve Merger by Absorption of Societe   For       For        Management
      Centrale d'Investissements by BNP Paribas
25    Amend Articles Board Related Re:          For       For        Management
      Elections of Employee Representative
26    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities


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BOC GROUP PLC, THE

Ticker:       BOCNF          Security ID:  GB0001081206
Meeting Date: JAN 27, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve the BOC Dividend Policy           For       For        Management
3     Elect Kent Masters as Director            For       For        Management
4     Elect Rebecca McDonald as Director        For       For        Management
5     Elect Alan Ferguson as Director           For       For        Management
6     Re-elect John Bevan as Director           For       For        Management
7     Re-elect Matthew Miau as Director         For       For        Management
8     Re-elect Sir Christopher O'Donnell as     For       For        Management
      Director
9     Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors of the Company
10    Authorise Board to Fix Remuneration of    For       For        Management
      the Auditors
11    Approve Remuneration Report               For       For        Management
12    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 18,580,721
13    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 6,283,736.50
14    Authorise 50,269,891 Ordinary Shares for  For       For        Management
      Market Purchase
15    Adopt New Articles of Association         For       For        Management


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

BP PLC  (FORM. BP AMOCO PLC )

Ticker:       BPAQF          Security ID:  GB0007980591
Meeting Date: APR 20, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Re-elect David Allen as Director          For       For        Management
4     Re-elect Lord Browne of Madingley as      For       For        Management
      Director
5     Re-elect John Bryan as Director           For       For        Management
6     Re-elect Antony Burgmans as Director      For       For        Management
7     Re-elect Iain Conn as Director            For       For        Management
8     Re-elect Errol Davis Jr. as Director      For       For        Management
9     Re-elect Douglas Flint as Director        For       For        Management
10    Re-elect Byron Grote as Director          For       For        Management
11    Re-elect Anthony Hayward as Director      For       For        Management
12    Re-elect DeAnne Julius as Director        For       For        Management
13    Re-elect Sir Tom McKillop as Director     For       For        Management
14    Re-elect John Manzoni as Director         For       For        Management
15    Re-elect Walter Massey as Director        For       For        Management
16    Re-elect Sir Ian Prosser as Director      For       For        Management
17    Re-elect Michael Wilson as Director       For       For        Management
18    Re-elect Peter Sutherland as Director     For       For        Management
19    Reappoint Ernst & Young LLP as Auditors   For       For        Management
      and Authorise the Board to Determine
      Their Remuneration
20    Authorise 2,000,000,000 Ordinary Shares   For       For        Management
      for Market Purchase
21    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      USD 1,690,000,000
22    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of USD 253,000,000


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

BRITISH AMERICAN TOBACCO PLC

Ticker:                      Security ID:  GB0002875804
Meeting Date: APR 27, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 33.0 Pence Per  For       For        Management
      Ordinary Share
4     Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors of the Company
5     Authorise Board to Fix Remuneration of    For       For        Management
      Auditors
6a    Re-elect Ana Llopis as Director           For       For        Management
6b    Re-elect Antonio Monteiro de Castro as    For       For        Management
      Director
6c    Re-elect Rupert Pennant-Rea as Director   For       For        Management
6d    Re-elect Jan du Plessis as Director       For       For        Management
7     Elect Anthony Ruys as Director            For       For        Management
8     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 174,737,186
9     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 26,210,577
10    Authorise 209,600,000 Ordinary Shares for For       For        Management
      Market Purchase


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

CADBURY SCHWEPPES PLC

Ticker:       CSGWF          Security ID:  GB0006107006
Meeting Date: MAY 18, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Final Dividend of 9 Pence Per     For       For        Management
      Ordinary Share
3     Approve Remuneration Report               For       For        Management
4     Re-elect Roger Carr as Director           For       For        Management
5     Re-elect Ken Hanna as Director            For       For        Management
6     Re-elect Todd Stitzer as Director         For       For        Management
7     Elect Lord Patten as Director             For       For        Management
8     Re-elect Baroness Wilcox as Director      For       For        Management
9     Reappoint Deloitte & Touche LLP as        For       For        Management
      Auditors of the Company
10    Authorise Board to Fix Remuneration of    For       For        Management
      Auditors
11    Approve Cadbury Schweppes International   For       For        Management
      Share Award Plan
12    Amend Cadbury Schweppes 2004 Long-Term    For       For        Management
      Incentive Plan
13    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 86,090,000
14    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 13,040,000
15    Authorise up to GBP 26,090,000 for Market For       For        Management
      Purchase


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

CANON INC.

Ticker:       7751           Security ID:  JP3242800005
Meeting Date: MAR 30, 2006   Meeting Type: Annual
Record Date:  DEC 31, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 32.5,
      Final JY 67.5, Special JY 0
2     Amend Articles to: Increase Number of     For       For        Management
      Internal Auditors
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
3.4   Elect Director                            For       For        Management
3.5   Elect Director                            For       For        Management
3.6   Elect Director                            For       For        Management
3.7   Elect Director                            For       For        Management
3.8   Elect Director                            For       For        Management
3.9   Elect Director                            For       For        Management
3.10  Elect Director                            For       For        Management
3.11  Elect Director                            For       For        Management
3.12  Elect Director                            For       For        Management
3.13  Elect Director                            For       For        Management
3.14  Elect Director                            For       For        Management
3.15  Elect Director                            For       For        Management
3.16  Elect Director                            For       For        Management
3.17  Elect Director                            For       For        Management
3.18  Elect Director                            For       For        Management
3.19  Elect Director                            For       For        Management
3.20  Elect Director                            For       For        Management
3.21  Elect Director                            For       For        Management
3.22  Elect Director                            For       For        Management
3.23  Elect Director                            For       For        Management
3.24  Elect Director                            For       For        Management
3.25  Elect Director                            For       For        Management
3.26  Elect Director                            For       For        Management
4.1   Appoint Internal Statutory Auditor        For       Against    Management
4.2   Appoint Internal Statutory Auditor        For       Against    Management
5     Approve Retirement Bonuses for Directors  For       Against    Management
      and Statutory Auditor


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

CARREFOUR S.A.

Ticker:                      Security ID:  FR0000120172
Meeting Date: MAY 2, 2006    Meeting Type: Annual/Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Financial Statements and          For       For        Management
      Discharge Management Board
2     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 1 per Share
4     Authorize Repurchase of Up to Three       For       For        Management
      Percent of Issued Share Capital
5     Approve Reduction in Share Capital via    For       For        Management
      Cancellation of Repurchased Shares
6     Approve Employee Savings-Related Share    For       For        Management
      Purchase Plan
7     Amend Articles of Association in order to For       For        Management
      Reflect Legal Changes
8     Change Location of Registered Office      For       For        Management


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

CENTRAL JAPAN RAILWAY CO.

Ticker:       9022           Security ID:  JP3566800003
Meeting Date: JUN 23, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 3000,
      Final JY 3500, Special JY 0
2     Amend Articles to: Authorize Public       For       For        Management
      Announcements in Electronic Format -
      Update Terminology to Match that of New
      Corporate Law
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
3.4   Elect Director                            For       For        Management
3.5   Elect Director                            For       For        Management
3.6   Elect Director                            For       For        Management
3.7   Elect Director                            For       For        Management
3.8   Elect Director                            For       For        Management
3.9   Elect Director                            For       For        Management
3.10  Elect Director                            For       For        Management
3.11  Elect Director                            For       For        Management
3.12  Elect Director                            For       For        Management
3.13  Elect Director                            For       For        Management
3.14  Elect Director                            For       For        Management
3.15  Elect Director                            For       For        Management
3.16  Elect Director                            For       For        Management
3.17  Elect Director                            For       For        Management
3.18  Elect Director                            For       For        Management
3.19  Elect Director                            For       For        Management
3.20  Elect Director                            For       For        Management
4     Appoint Internal Statutory Auditor        For       For        Management


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

CHUNGHWA TELECOM CO. LTD.

Ticker:       CHT            Security ID:  US17133Q2057
Meeting Date: MAY 30, 2006   Meeting Type: Annual
Record Date:  APR 21, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     THE COMPANY S OPERATION REPORTS FOR 2005. None      None       Management
2     THE SUPERVISORS  AUDIT REPORTS ON THE     None      None       Management
      COMPANY S FINANCIAL STATEMENTS FOR 2005.
3     THE COMPANY S FINANCIAL STATEMENTS FOR    None      None       Management
      2004 APPROVED BY THE MINISTRY OF AUDIT OF
      THE REPUBLIC OF CHINA.
4     THE COMPANY S IMPLEMENTATION OF ITS SHARE None      None       Management
      REPURCHASE PROGRAM.
5     THE COMPANY S AMENDMENT TO ITS CODE OF    None      None       Management
      ETHICS.
6     THE COMPANY S ISSUANCE OF PREFERRED       None      None       Management
      SHARES BASED ON ARTICLE 12 OF THE
      TELECOMMUNICATIONS ACT.
7     THE COMPANY S OPERATION REPORTS AND       For       For        Management
      FINANCIAL STATEMENTS FOR YEAR 2005.
8     THE COMPANY S DISTRIBUTION OF EARNINGS    For       For        Management
      FOR YEAR 2005.
9     AMENDMENT TO THE ORDINANCE OF THE COMPANY For       Against    Management
      S ANNUAL GENERAL MEETING.
10    PROPOSAL TO INCREASE THE COMPANY S        For       For        Management
      CAPITAL THROUGH EARNINGS.
11    AMENDMENT TO THE COMPANY S ARTICLES OF    For       Against    Management
      INCORPORATION.
12    AMENDMENT TO THE COMPANY S PROCEDURES FOR For       Against    Management
      ACQUISITIONS OR DISPOSITION OF ASSETS.
13    PROPOSAL TO DISBURSE REMUNERATIONS TO THE For       For        Management
      COMPANY S DIRECTORS AND SUPERVISORS.
14    Other Business                            None      None       Management


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

CREDIT SUISSE GROUP (FORMERLY CS HOLDING)

Ticker:       CSGKF          Security ID:  CH0012138530
Meeting Date: APR 28, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Discharge of Board and Senior     For       For        Management
      Management
3     Approve CHF 17 Million Reduction in Share For       For        Management
      Capital via Cancellation of Repurchased
      Shares
4     Approve Allocation of Income and          For       For        Management
      Dividends of CHF 2 per Share
5.1.a Reelect Walter Kielholz and Hans-Ulrich   For       For        Management
      Doerig as Directors
5.1.b Elect Richard Thornburgh as Director      For       For        Management
5.2   Ratify KPMG Klynveld Peat Marwick         For       For        Management
      Goerdeler SA as Auditors
5.3   Ratify BDO Visura as Special Auditors     For       For        Management
6     Approve CHF 3.4 Million Reduction in Pool For       For        Management
      of Capital Reserved for Donaldson Lufkin
      & Jenrette Employee Options


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

CRH PLC

Ticker:       CRHCF          Security ID:  IE0001827041
Meeting Date: MAY 3, 2006    Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Dividends                         For       For        Management
3a    Elect D.W. Doyle as a Director            For       Against    Management
3b    Elect J. M. de Jong as a Director         For       Against    Management
3c    Elect D. M. Kennedy as a Director         For       Against    Management
3d    Elect M. Lee as a Director                For       Against    Management
4     Authorize Board to Fix Remuneration of    For       For        Management
      Auditors
5     Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities with Preemptive
      Rights Up to an Amount Not Exceeding the
      Authorized But Unissued Ordinary Share
      Capital of the Company
6     Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities with Preemptive
      Rights for Cash Up to an Aggregate
      Nominal Value of EUR 9,119,000
7     Authorize Share Repurchase up to 10       For       For        Management
      Percent of Issued Share Capital
8     Approve Re-issue of Treasury Shares       For       For        Management
9     Approve Performance Share Plan            For       For        Management


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

CSM NV (FORMERLY CENTRALE SUIKER MAATSCHAPPIJ NV)

Ticker:                      Security ID:  NL0000344265
Meeting Date: APR 26, 2006   Meeting Type: Annual
Record Date:  APR 19, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Open Meeting                              None      None       Management
2.1A  Elect Koos Kramer to Management Board     For       For        Management
2.1B  Elect Jan-Willem van der Klaauw to        Against   Against    Management
      Management Board
2.2A  Elect Gilles Nieuwenhuyzen to Management  For       For        Management
      Board
2.2B  Elect Maarten ten Doesschate to           Against   Against    Management
      Management Board
2.3A  Elect Reinoud Plantenberg to Management   For       For        Management
      Board
2.3B  Elect Onno van den Berg to Management     Against   Against    Management
      Board
3     Receive Report of Management Board and    None      None       Management
      Supervisory Board
4     Reservation and Dividend Policy, Approve  For       For        Management
      Financial Statements and Approve Dividend
      of EUR 0.80 per Share
5     Approve Discharge of Management Board     For       For        Management
6     Approve Discharge of Supervisory Board    For       For        Management
7     Amend Remuneration Policy of Management   For       For        Management
      Board to Include Commitment Award
8.1   Reelect L.A.A. van den Berghe to          For       For        Management
      Supervisory Board
8.2   Elect R.J. Schmidt to Supervisory Board   Against   Against    Management
9     Grant Board Authority to Issue Shares Up  For       For        Management
      To 10 Percent of Subscribed Capital Plus
      Additional 10 Percent in Case of
      Takeover/Merger and Restricting/Excluding
      Preemptive Rights
10    Authorize Repurchase up to 10 Percent of  For       For        Management
      Issued Ordinary and Financing Preference
      Shares
11    Approve Reduction in Share Capital via    For       For        Management
      Cancellation of Repurchased Shares
12    Ratify PricewaterhouseCoopers Accountants For       For        Management
      N.V. as Auditors
13    Announcements and Other Business          None      None       Management
      (Non-Voting)
14    Close Meeting                             None      None       Management


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

DAI NIPPON PRINTING CO. LTD.

Ticker:       7912           Security ID:  JP3493800001
Meeting Date: JUN 29, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 12,
      Final JY 14, Special JY 0
2     Amend Articles to: Expand Business Lines  For       For        Management
      - Decrease Authorized Capital - Authorize
      Public Announcements in Electronic Format
      - Limit Rights of Odd-lot Holders - Limit
      Liability of Directors and Statutory
      Auditors


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

DEUTSCHE TELEKOM AG

Ticker:       DTLSF          Security ID:  DE0005557508
Meeting Date: MAY 3, 2006    Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Receive Financial Statements and          None      None       Management
      Statutory Reports for Fiscal 2005
2     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 0.72 per Share
3     Approve Discharge of Management Board for For       For        Management
      Fiscal 2005
4     Approve Discharge of Supervisory Board    For       For        Management
      for Fiscal 2005
5     Ratify PricewaterhouseCoopers             For       For        Management
      Aktiengesellschaft and Ernst & Young AG
      as Auditors for Fiscal 2006
6     Authorize Share Repurchase Program and    For       For        Management
      Reissuance of Repurchased Shares
7     Approve Employee Stock Purchase Plan;     For       For        Management
      Approve Creation of EUR 38.4 Million Pool
      of Capital for Employee Stock Purchase
      Plan
8     Approve Spin-Off and Share Transfer       For       For        Management
      Agreement of Marketing/Business
      Sales/Business Services
9     Approve Affiliation Agreement with        For       For        Management
      Subsidiary SCS Personalberatung GmbH
10    Approve Affiliation Agreement with        For       For        Management
      Subsidiary Caspar
      Telekommunikationsdienste GmbH
11    Approve Affiliation Agreement with        For       For        Management
      Subsidiary Melchior
      Telekommunikationsdienste GmbH
12    Approve Affiliation Agreement with        For       For        Management
      Subsidiary Balthasar
      Telekommunikationsdienste GmbH
13    Approve Affiliation Agreement with        For       For        Management
      Subsidiary T-Com Innovationsgesellschaft
14    Amend Articles Re: Calling of and         For       For        Management
      Registration for Shareholder Meetings due
      to New German Legislation (Law on Company
      Integrity and Modernization of the Right
      of Avoidance)
15    Elect Thomas Mirow to the Supervisory     For       Against    Management
      Board
16    Elect Ingrid Matthaeus-Maierto the        For       Against    Management
      Supervisory Board
17    Elect Mathias Doepfner to the Supervisory For       For        Management
      Board
18    Elect Wulf von Schimmelmann to the        For       Against    Management
      Supervisory Board
19    Elect Hubertus von Gruenberg to the       For       For        Management
      Supervisory Board
20    Elect Bernhard Walter to the Supervisory  For       For        Management
      Board


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

DR. ING. F.C.F. PORSCHE AG

Ticker:                      Security ID:  DE0006937733
Meeting Date: JAN 27, 2006   Meeting Type: Annual
Record Date:  JAN 5, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Receive Financial Statements and          None      Did Not    Management
      Statutory Reports                                   Vote
2     Approve Allocation of Income and          For       Did Not    Management
      Dividends of EUR 4.94 per Common Share              Vote
      and EUR 5.00 per Preference Share
3     Approve Discharge of Management Board for For       Did Not    Management
      Fiscal 2004/2005                                    Vote
4     Approve Discharge of Supervisory Board    For       Did Not    Management
      for Fiscal 2004/2005                                Vote
5.1   Amend Corporate Purpose                   For       Did Not    Management
                                                          Vote
5.2   Amend Articles Re: Calling of,            For       Did Not    Management
      Registration for, and Conducting of                 Vote
      Shareholder Meetings due to New German
      Legislation (Law on Company Integrity and
      Modernization of the Right of Avoidance)
6     Authorize Management Board Not to         For       Did Not    Management
      Disclose Individualized Remuneration of             Vote
      its Members
7     Ratify Ernst & Young AG as Auditors       For       Did Not    Management
                                                          Vote


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

ENI SPA

Ticker:                      Security ID:  IT0003132476
Meeting Date: MAY 25, 2006   Meeting Type: Special
Record Date:  MAY 23, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Amend Articles Re: 13 (sub-paragraph 1),  For       For        Management
      17 (sub-paragraph 3), 24 (sub-paragraph
      1), and 28 (sub-paragraphs 2 and 4)


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

ENI SPA

Ticker:                      Security ID:  IT0003132476
Meeting Date: MAY 25, 2006   Meeting Type: Annual
Record Date:  MAY 23, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements, Consolidated For       For        Management
      Financial Statements, and Statutory
      Reports for the Fiscal Year 2005
2     Approve Allocation of Income              For       For        Management
3     Authorize Share Repurchase Program;       For       For        Management
      Revoke Previously Granted Authorization
      to Repurchase Shares
4     Approve Stock Option Plan 2006-2008;      For       For        Management
      Authorize Reissuance of Repurchased
      Shares to Service the Stock Option Plan
5     Approve Director and/or Internal          For       For        Management
      Auditors' Indemnification/Liability
      Provisions


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

ERICSSON (TELEFONAKTIEBOLAGET L M ERICSSON)

Ticker:       ERIXF          Security ID:  SE0000108656
Meeting Date: APR 10, 2006   Meeting Type: Annual
Record Date:  APR 4, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Elect Chairman of Meeting                 For       For        Management
2     Prepare and Approve List of Shareholders  For       For        Management
3     Approve Agenda of Meeting                 For       For        Management
4     Acknowledge Proper Convening of Meeting   For       For        Management
5     Designate Inspector or Shareholder        For       For        Management
      Representative(s) of Minutes of Meeting
6.1   Receive Financial Statements and          None      None       Management
      Statutory Reports
6.2   Receive Board and Committee Reports       None      None       Management
6.3   Receive President's Report; Allow         None      None       Management
      Questions
7.1   Approve Financial Statements and          For       For        Management
      Statutory Reports
7.2   Approve Discharge of Board and President  For       For        Management
7.3   Approve Allocation of Income and          For       For        Management
      Dividends of SEK 0.45 Per Share
8.1   Determine Number of Members (10) and      For       For        Management
      Deputy Members (0) of Board
8.2   Approve Remuneration of Directors in the  For       For        Management
      Amount of SEK 3.8 Million for Chairman
      and SEK 750,000 for Other Directors;
      Approve Remuneration of Committee Members
8.3   Reelect Michael Treschow (Chairman),      For       For        Management
      Marcus Wallenberg, Peter Bonfield,
      Sverker Martin-Loef, Nancy McKinstry, Ulf
      Johansson, and Carl-Henric Svanberg as
      Directors; Elect Boerje Ekholm, Katherine
      Hudson, and Anders Nyren as New Directors
8.4   Authorize Chairman of Board and           For       For        Management
      Representatives of Four of Company's
      Largest Shareholders to Serve on
      Nominating Committee
8.5   Approve Omission of Remuneration of       For       For        Management
      Nominating Committee Members
8.6   Approve Remuneration of Auditors          For       For        Management
9     Amend Articles Re: Amend Corporate        For       For        Management
      Purpose; Various Changes to Comply with
      New Swedish Companies Act
10    Approve Remuneration Policy And Other     For       Against    Management
      Terms of Employment For Executive
      Management
11.1  Approve Implementation of 2006 Long-Term  For       Against    Management
      Incentive Plan
11.2  Authorize Reissuance of 38.4 Million      For       Against    Management
      Repurchased Class B Shares for 2006
      Long-Term Incentive Plan
12    Authorize Reissuance of 63.2 Million      For       Against    Management
      Repurchased Class B Shares in Connection
      with 2001 Global Stock Incentive Program,
      2003 Stock Purchase Plan, and 2004 and
      2005 Long-Term Incentive Plans
13    Shareholder Proposal: Assign Board to     None      For        Shareholder
      Present to Shareholders a Plan for
      Elimination of Class A Shares at 2007 AGM
14    Close Meeting                             None      None       Management


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

FORTIS SA/NV

Ticker:                      Security ID:  BE0003801181
Meeting Date: MAY 11, 2006   Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Open Meeting                              None      Did Not    Management
                                                          Vote
2.1   Receive Special Report on Authorized      None      Did Not    Management
      Capital                                             Vote
2.2   Approve the Creation of a New Authorized  For       Did Not    Management
      Capital with Exclusion of Preemptive                Vote
      Rights and the Possibility of Using
      during a Takeover
3.1   Authorize Repurchase of Up to Ten Percent For       Did Not    Management
      of Issued Share Capital                             Vote
3.2   Authorize Alienation of the Repurchased   For       Did Not    Management
      Shares                                              Vote
4     Close Meeting                             None      Did Not    Management
                                                          Vote


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

FORTIS SA/NV

Ticker:                      Security ID:  BE0003801181
Meeting Date: MAY 31, 2006   Meeting Type: Annual/Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Open Meeting                              None      Did Not    Management
                                                          Vote
2.1.1 Receive Directors' Report                 None      Did Not    Management
                                                          Vote
2.1.2 Receive Consolidated Financial Statements None      Did Not    Management
                                                          Vote
2.1.3 Accept Financial Statements               For       Did Not    Management
                                                          Vote
2.1.4 Approve Allocation of Income              For       Did Not    Management
                                                          Vote
2.2.1 Receive Explanation on Company's Dividend None      Did Not    Management
      Policy                                              Vote
2.2.2 Approve Dividends of EUR 1.16 per Fortis  For       Did Not    Management
      Unit                                                Vote
2.3.1 Approve Discharge of Directors            For       Did Not    Management
                                                          Vote
2.3.2 Approve Discharge of Auditors             For       Did Not    Management
                                                          Vote
3     Discussion on Company's Corporate         None      Did Not    Management
      Governance Structure                                Vote
4.1.1 Reelect Jan Slechte as Director           For       Did Not    Management
                                                          Vote
4.1.2 Reelect Richard Delbridge as Director     For       Did Not    Management
                                                          Vote
4.1.3 Reelect Klaas Westdijk as Director        For       Did Not    Management
                                                          Vote
4.2.1 Elect Alois Michielsen as Director        For       Did Not    Management
                                                          Vote
4.2.2 Elect Reiner Hagemann as Director         For       Did Not    Management
                                                          Vote
4.2.3 Elect Clara Furse as Director             For       Did Not    Management
                                                          Vote
4.3   Ratify PricewaterhouseCoopers as Auditors For       Did Not    Management
                                                          Vote
5.1   Receive Directors' Special Report on      None      Did Not    Management
      Authorized Capital                                  Vote
5.2   Authorize Board to Issue Shares in the    For       Did Not    Management
      Event of a Public Tender Offer or Share             Vote
      Exchange Offer
6.1   Authorize Repurchase of Up to Ten Percent For       Did Not    Management
      of Issued Share Capital                             Vote
6.2   Authorize Reissuance of Repurchased       For       Did Not    Management
      Shares                                              Vote
7     Close Meeting                             None      Did Not    Management
                                                          Vote


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

FRANCE TELECOM SA

Ticker:       FNCTF          Security ID:  FR0000133308
Meeting Date: APR 21, 2006   Meeting Type: Annual/Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Financial Statements and          For       For        Management
      Discharge Directors
2     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 1 per Share
4     Approve Special Auditors' Report          For       For        Management
      Regarding Related-Party Transactions
5     Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
6     Amend Articles of Association Re: Attend  For       For        Management
      Board Meetings by Way of Videoconference
      and of Telecommunication
7     Amend Articles of Association Re: General For       For        Management
      Meeting Quorums
8     Authorize Capital Increase of up to EUR   For       For        Management
      200 Million to Participants of Orange
      S.A. Stock Option Plan in Connection with
      France Telecom Liquidity Agreement
9     Approve Restricted Stock Plan for Orange  For       Against    Management
      S.A. Option Holders
10    Approve Employee Savings-Related Share    For       Against    Management
      Purchase Plan
11    Approve Reduction in Share Capital via    For       For        Management
      Cancellation of Repurchased Shares
12    Authorize up to One Percent of Issued     For       Against    Management
      Capital for Use in Restricted Stock Plan
13    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities


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

GLAXOSMITHKLINE PLC (FORMERLY GLAXO WELLCOME PLC )

Ticker:       GLAXF          Security ID:  GB0009252882
Meeting Date: MAY 17, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Elect Moncef Slaoui as Director           For       For        Management
4     Elect Tom de Swaan as Director            For       For        Management
5     Re-elect Lawrence Culp as Director        For       For        Management
6     Re-elect Sir Crispin Davis as Director    For       For        Management
7     Re-elect Ronaldo Schmitz as Director      For       For        Management
8     Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors of the Company
9     Authorize Audit Committee to Fix          For       For        Management
      Remuneration of Auditors
10    Approve the Company to Make EU Political  For       For        Management
      Organisation Donations up to GBP 50,000
      and Incur EU Political Expenditure up to
      GBP 50,000
11    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 485,201,557
12    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 72,780,233
13    Authorise 582,241,869 Ordinary Shares for For       For        Management
      Market Purchase


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

GUS PLC (FORMERLY GREAT UNIVERSAL STORES)

Ticker:                      Security ID:  GB0003847042
Meeting Date: DEC 12, 2005   Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Amend Articles of Association Re:         For       For        Management
      Dividends
2     Approve Payment of Special Dividend;      For       For        Management
      Approve the Preference Shares Trust Deed;
      Approve the Preference Shares Repurchase
      Agreement; and Approve the Demerger
      Agreement
3     Approve Sub-Division of the Ord. Shares   For       For        Management
      of 25p Into New Ord. Shares of 25/860p
      Each; Consolidation of Unissued and
      Issued Intermediate Shares into New Ord.
      Shares of 29 3/43p Each
4     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 57,491,156.50
5     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 12,715,875
6     Authorise 85,140,000 New Ordinary Shares  For       For        Management
      for Market Purchase


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

GUS PLC (FORMERLY GREAT UNIVERSAL STORES)

Ticker:                      Security ID:  GB0003847042
Meeting Date: JUL 20, 2005   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 20.5 Pence Per  For       For        Management
      Ordinary Share
4     Elect Don Robert as Director              For       For        Management
5     Elect John Coombe as Director             For       For        Management
6     Re-elect John Peace as Director           For       For        Management
7     Re-elect Terry Duddy as Director          For       For        Management
8     Re-elect Frank Newman as Director         For       For        Management
9     Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors of the Company
10    Authorise Board to Fix Remuneration of    For       For        Management
      the Auditors
11    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 58,182,492
12    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 12,715,875
13    Authorise 99,000,000 Ordinary Shares for  For       For        Management
      Market Purchase
14    Authorise the Company to Make EU          For       For        Management
      Political Organisation Donations and
      Incur EU Political Expenditure up to an
      Aggregate Nominal Amount of GBP 50,000
15    Authorise Argos Limited to Make EU        For       For        Management
      Political Organisation Donations and
      Incur EU Political Expenditure up to an
      Aggregate Nominal Amount of GBP 25,000
16    Authorise Homebase Limited to Make EU     For       For        Management
      Political Organisation Donations and
      Incur EU Political Expenditure up to an
      Aggregate Nominal Amount of GBP 25,000
17    Authorise Experian Limited to Make EU     For       For        Management
      Political Organisation Donations and
      Incur EU Political Expenditure up to an
      Aggregate Nominal Amount of GBP 25,000
18    Authorise Burberry Group plc to Make EU   For       For        Management
      Political Organisation Donations and
      Incur EU Political Expenditure up to an
      Aggregate Nominal Amount of GBP 25,000
19    Authorise Burberry Limited to Make EU     For       For        Management
      Political Organisation Donations and
      Incur EU Political Expenditure up to an
      Aggregate Nominal Amount of GBP 25,000


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

HANSON PLC

Ticker:                      Security ID:  GB0033516088
Meeting Date: APR 26, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 14.15 Pence Per For       For        Management
      Ordinary Share
4a    Re-elect Alan Murray as Director          For       For        Management
4b    Re-elect Frank Blount as Director         For       For        Management
4c    Re-elect Sam Laidlaw as Director          For       For        Management
4d    Elect John Brady as Director              For       For        Management
5     Reappoint Ernst & Young LLP as Auditors   For       For        Management
      and Authorise the Board to Determine
      Their Remuneration
6a    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 24,550,000
6b    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 3,680,000
7     Authorise 73,600,000 Ordinary Shares for  For       For        Management
      Market Purchase
8     Approve Hanson Long-Term Incentive Plan   For       For        Management
      2006


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

HAYS PLC

Ticker:                      Security ID:  GB0004161021
Meeting Date: NOV 3, 2005    Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Final Dividend of 2.27 Pence Per  For       For        Management
      Share
3     Approve Remuneration Report               For       For        Management
4     Elect William Eccleshare as Director      For       For        Management
5     Elect Paul Stoneham as Director           For       For        Management
6     Re-elect John Martin as Director          For       For        Management
7     Re-elect Brian Wallace as Director        For       For        Management
8     Reappoint Deloitte & Touche LLP as        For       For        Management
      Auditors of the Company
9     Authorise Board to Fix Remuneration of    For       For        Management
      the Auditors
10    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 5,309,790
11    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 796,468
12    Authorise 238,940,543 Ordinary Shares for For       For        Management
      Market Purchase
13    Amend Long-Term Co-Investment Plan        For       For        Management


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

HOLCIM LTD.  (FORMERLY HOLDERBANK FINANCIERE GLARUS)

Ticker:                      Security ID:  CH0012214059
Meeting Date: MAY 12, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Discharge of Board and Senior     For       For        Management
      Management
3     Approve Allocation of Income and          For       For        Management
      Dividends of CHF 1.65 per Share
4     Approve Creation of CHF 41.8 Million Pool For       For        Management
      of Capital with Preemptive Rights
5.1.1 Reelect Thomas Schmidheiny as Director    For       For        Management
5.1.2 Reelect Wolfgang Schuerer as Director     For       For        Management
5.1.3 Reelect Dieter Spaelti as Director        For       For        Management
5.2.1 Elect Norman Fowler as Director           For       For        Management
5.2.2 Elect Adrian Loader as Director           For       For        Management
5.3   Ratify Ernst & Young AG as Auditors       For       For        Management


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

HSBC HOLDINGS PLC

Ticker:       HBCYF          Security ID:  GB0005405286
Meeting Date: MAY 26, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3 (a) Re-elect Baroness Lydia Dunn as Director  For       For        Management
3 (b) Re-elect Michael Geoghegan as Director    For       For        Management
3 (c) Re-elect Stephen Green as Director        For       For        Management
3 (d) Re-elect Sir Mark Moody-Stuart as         For       For        Management
      Director
3 (e) Elect Simon Robertson as Director         For       For        Management
3 (f) Re-elect Helmut Sohmen as Director        For       For        Management
3 (g) Re-elect Sir Brian Williamson as Director For       For        Management
4     Reappoint KPMG Audit plc as Auditors and  For       For        Management
      Authorise the Audit Committee to
      Determine Their Remuneration
5     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      USD 1,137,200,000
6     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of USD 284,300,000
7     Authorise 10 Percent of Ordinary Shares   For       For        Management
      for Market Purchase
8     Approve Increase in Remuneration of       For       For        Management
      Non-Executive Directors to GBP 65,000


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

IMPERIAL TOBACCO GROUP PLC

Ticker:                      Security ID:  GB0004544929
Meeting Date: JAN 31, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 39.5 Pence Per  For       For        Management
      Ordinary Share
4     Re-elect Anthony Alexander as Director    For       For        Management
5     Re-elect Derek Bonham as Director         For       For        Management
6     Elect Colin Day as Director               For       For        Management
7     Re-elect Pierre Jungels as Director       For       For        Management
8     Elect Graham Blashill as Director         For       For        Management
9     Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors of the Company
10    Authorise Board to Fix Remuneration of    For       For        Management
      the Auditors
11    Authorise Company to Make EU Political    For       For        Management
      Donations up to GBP 25,000 and Incur EU
      Political Expenditure up to GBP 25,000
12    Authorise Imperial Tobacco Limited to     For       For        Management
      Make EU Political Donations up to GBP
      25,000 and Incur EU Political Expenditure
      up to GBP 25,000
13    Authorise Imperial Tobacco International  For       For        Management
      Limited to Make EU Political Donations up
      to GBP 25,000 and Incur EU Political
      Expenditure up to GBP 25,000
14    Authorise Van Nelle Tabak Nederland B.V.  For       For        Management
      to Make EU Political Donations up to GBP
      25,000 and Incur EU Political Expenditure
      up to GBP 25,000
15    Authorise John Player & Sons Limited to   For       For        Management
      Make EU Political Donations up to GBP
      25,000 and Incur EU Political Expenditure
      up to GBP 25,000
16    Authorise Reemtsma Cigarettenfabriken     For       For        Management
      GmbH to Make EU Political Donations up to
      GBP 25,000 and Incur EU Political
      Expenditure up to GBP 25,000
17    Authorise Ets L. Lacroix Fils NV/SA to    For       For        Management
      Make EU Political Donations up to GBP
      25,000 and Incur EU Political Expenditure
      up to GBP 25,000
18    Amend Imperial Tobacco Group Long Term    For       For        Management
      Incentive Plan
19    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 24,300,000
20    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 3,645,000
21    Authorise 72,900,000 Ordinary Shares for  For       For        Management
      Market Purchase


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

ING GROEP NV

Ticker:       INGVF          Security ID:  NL0000303600
Meeting Date: APR 25, 2006   Meeting Type: Annual
Record Date:  APR 18, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Opening and Approval of the Webcasting of For       For        Management
      This Present Meeting and Subsequent
      Shareholders' Meetings
2a    Receive Report of Executive and           None      None       Management
      Supervisory Board
2b    Discussion on Profit Retention and        None      None       Management
      Distribution Policy
3a    Approve Financial Statements and          For       For        Management
      Statutory Reports
3b    Approve Allocation of Income and          For       For        Management
      Dividends of EUR 1.18 per  Share
4a    Approve Discharge of Executive Board      For       For        Management
4b    Approve Discharge of Supervisory Board    For       For        Management
5     Discussion on Company's Corporate         None      None       Management
      Governance Structure
6a    Elect Dick Harryvan to Management Board   For       For        Management
6b    Elect Tom McInerney to Management Board   For       For        Management
6c    Elect Hans van der Noordaa to Management  For       For        Management
      Board
6d    Elect Jacques de Vaucleroy to Management  For       For        Management
      Board
7a    Reelect Cor Herkstroter to Supervisory    For       For        Management
      Board
7b    Reelect Karel Vuursteen to Supervisory    For       For        Management
      Board
7c    Elect Piet Klaver to Supervisory Board    For       For        Management
8     Approve Stock Option Grants and           For       For        Management
      Performance Shares for the  Members of
      Executive Board
9     Approve Amendment Pension Scheme of the   For       For        Management
      Executive Board
10    Approve Remuneration of Supervisory Board For       For        Management
11a   Grant Board Authority to Issue 220        For       For        Management
      Million Ordinary Shares
      Restricting/Excluding Preemptive Rights
      (Plus 220 Million Ordinary Shares in
      Connection with Merger)
11b   Grant Board Authority to Issue 10 Million For       For        Management
      Preference B Shares in Connection with
      Conversion of ING Perpetuals III
12a   Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share  Capital
12b   Authorize Repurchase of 24,051,039        For       For        Management
      Depositary Receipts for Preference A
      Shares
12c   Authorize Repurchase Preference A Shares  For       For        Management
      or Depositary Receipts for Preference A
      Shares
13    Approve Cancellation of Preference A      For       For        Management
      shares Which are Held by ING Groep N.V.
14a   Approval of the English language as the   For       For        Management
      Official Language of the Annual Report
      with Effect From the 2006 Report
14b   Approval of the English Language as the   For       For        Management
      Official Language as of the 2007
      Shareholders' Meeting
15    Other Business (Non-Voting)               None      None       Management


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

INTERCONTINENTAL HOTELS GROUP PLC

Ticker:                      Security ID:  GB00B07Q1P26
Meeting Date: DEC 7, 2005    Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Sale of Britvic plc and its       For       For        Management
      Subsidiaries


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

INTERCONTINENTAL HOTELS GROUP PLC

Ticker:       IHG            Security ID:  GB00B07Q1P26
Meeting Date: JUN 1, 2006    Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Sub-Division of All Ord. Shares   For       For        Management
      of 10p Each Into New Ord. Shares of 1
      3/7p Each; Approve Consolidation of
      Unissued Intermediate Shares Into New
      Ord. Shares of 11 3/7p Each and Issued
      Intermediate Shares Into New Ord. Shares
      of 11 3/7p Each
2     Authorise 55,450,721 New Ordinary Shares  For       For        Management
      for Market Purchase Pursuant to the
      Passing of Item 1


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

INTERCONTINENTAL HOTELS GROUP PLC

Ticker:                      Security ID:  GB00B07Q1P26
Meeting Date: JUN 1, 2006    Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 10.7 Pence Per  For       For        Management
      Ordinary Share
4a    Elect Jennifer Laing as Director          For       For        Management
4b    Elect Jonathan Linen as Director          For       For        Management
4c    Re-elect Robert Larson as Director        For       For        Management
4d    Re-elect Steven Porter as Director        For       For        Management
5     Reappoint Ernst & Young LLP as Auditors   For       For        Management
      of the Company
6     Authorize the Audit Committee to Fix      For       For        Management
      Remuneration of Auditors
7     Approve EU Political Organisations        For       For        Management
      Donation and Incur EU Political
      Expenditure up to GBP 100,000
8     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 13,840,591
9     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 2,076,089
10    Authorise 62,241,139 Ordinary Shares for  For       For        Management
      Market Purchase


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

INTERCONTINENTAL HOTELS GROUP PLC

Ticker:                      Security ID:  GB00B07Q1P26
Meeting Date: OCT 26, 2005   Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Sale of Hotel Inter-Continental   For       For        Management
      Paris SAS


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

JOHNSTON PRESS PLC

Ticker:                      Security ID:  GB0004769682
Meeting Date: APR 28, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 5.6 Pence Per   For       For        Management
      Share
4a    Re-elect Peter Cawdron as Director        For       For        Management
4b    Re-elect Lord Gordon of Strathblane as    For       Against    Management
      Director
4c    Re-elect Frederick Johnston as Director   For       Against    Management
5a    Reappoint Deloitte & Touche LLP as        For       For        Management
      Auditors of the Company
5b    Authorise Board to Fix Remuneration of    For       For        Management
      Auditors
6     Approve Johnston Press Performance Share  For       For        Management
      Plan 2006
7     Amend Johnston Press Plc 2003 Share       For       For        Management
      Matching Plan
8     Amend Johnston Press Group 1997           For       For        Management
      Savings-Related Share Option Scheme
9     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 9,555,623
10    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 1,433,343
11    Authorise 28,000,000 Ordinary Shares for  For       For        Management
      Market Purchase


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

KANSAI ELECTRIC POWER CO. INC.

Ticker:       9503           Security ID:  JP3228600007
Meeting Date: JUN 29, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 25,
      Final JY 35, Special JY 0
2     Amend Articles to: Decrease Maximum Board For       For        Management
      Size - Limit Rights of Odd-lot Holders -
      Update Terminology to Match that of New
      Corporate Law
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
4     Approve Retirement Bonuses for Directors  For       Against    Management
      and Special Payments to Continuing
      Directors and Statutory Auditors in
      Connection with Abolition of Retirement
      Bonus System
5     Approve Adjustment to Aggregate           For       Against    Management
      Compensation Ceilings for Directors and
      Statutory Auditors
6     Amend Articles to Operate Based on Global Against   Against    Shareholder
      Corporate Social Responsibility
      Philosophy
7     Amend Articles to Decrease Maximum Board  Against   Against    Shareholder
      Size to 12
8     Amend Articles to Decrease Maximum        Against   Against    Shareholder
      Statutory Auditor Board Size to 5 and
      Require One Auditor From Environmental
      NGO
9     Amend Articles to Require the Company to  Against   Against    Shareholder
      Record All Discussion including Criticism
      from Shareholders at Shareholder Meetings
10    Amend Articles to Tackle Global Warming   Against   Against    Shareholder
11    Amend Articles to Switch from Nuclear     Against   Against    Shareholder
      Power to Natural Energy
12    Amend Articles to Prioritize Rights of    Against   Against    Shareholder
      Employees, Consumers, Local Residents and
      Improve Working Condition for Employees
      of Group Companies
13    Amend Articles to Prioritize Skilled      Against   Against    Shareholder
      Employees
14    Approve Alternate Income Allocation       Against   Against    Shareholder
      Proposal
15    Remove Director from Office               Against   Against    Shareholder
16    Abolish Retirement Bonus System for       Against   Against    Shareholder
      Directors and Statutory Auditors
17    Amend Articles to Ban Investment in and   Against   Against    Shareholder
      Business with Spent Nuclear Fuel
      Reprocessing Firms
18    Amend Articles to Expand into Consulting  Against   Against    Shareholder
      and Engineering Services Related to
      Earthquake Protection
19    Amend Articles to Reduce Board Size to 10 Against   Against    Shareholder
      and Appoint One Director Responsible for
      Workers Injured by Nuclear Radiation
20    Amend Articles to Appoint One Director    Against   Against    Shareholder
      Responsible for Fatal Accident at Mihama
      Nuclear Power Station
21    Amend Articles to Appoint One Director in Against   Against    Shareholder
      Charge of Nonproliferation


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

KAO CORP.

Ticker:       4452           Security ID:  JP3205800000
Meeting Date: JUN 29, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 25,
      Final JY 25, Special JY 0
2     Amend Articles to: Expand Business Lines  For       For        Management
      - Limit Outside Statutory Auditors' Legal
      Liability - Authorize Public
      Announcements in Electronic Format -
      Limit Rights of Odd-Lot Holders
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
3.4   Elect Director                            For       For        Management
3.5   Elect Director                            For       For        Management
3.6   Elect Director                            For       For        Management
3.7   Elect Director                            For       For        Management
3.8   Elect Director                            For       For        Management
3.9   Elect Director                            For       For        Management
3.10  Elect Director                            For       For        Management
3.11  Elect Director                            For       For        Management
3.12  Elect Director                            For       For        Management
3.13  Elect Director                            For       For        Management
3.14  Elect Director                            For       For        Management
3.15  Elect Director                            For       For        Management
4     Appoint Internal Statutory Auditor        For       For        Management
5     Appoint Alternate Internal Statutory      For       For        Management
      Auditor
6     Approve Deep Discount Stock Option Plan   For       For        Management
      for Directors
7     Approve Employee Stock Option Plan        For       For        Management
8     Approve Retirement Bonuses for Directors  For       For        Management


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

LADBROKES PLC (FORMERLY HILTON GROUP PLC)

Ticker:                      Security ID:  GB0005002547
Meeting Date: JAN 27, 2006   Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Sale of Hilton International      For       For        Management
      Hotels Division
2     Change Company Name to Ladbrokes plc      For       For        Management


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

LADBROKES PLC (FORMERLY HILTON GROUP PLC)

Ticker:                      Security ID:  GB0005002547
Meeting Date: MAR 29, 2006   Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Final Dividend of 6.6 Pence Per   For       For        Management
      Ordinary Share Pursuant to the Passing of
      Item 5
2     Approve Special Dividend of 233.4 Pence   For       For        Management
      Per Existing Ordinary Share Pursuant to
      the Passing of Items 3 and 5
3     Approve Sub-Div. of Each Unissued Ord.    For       For        Management
      Share into 6 Ord. Shares of 1 2/3p; Share
      Consolidation of Every 17 Issued
      Intermediate Ord. Shares into 1 New Ord.
      Share of 28 1/3p and  Every 17 Unissued
      Intermediate Ord. Shares into 1 Unissued
      New Ord. Share
4     Authorise 57,254,485 New Ordinary Shares  For       For        Management
      for Market Purchase Pursuant to Passing
      of Item 2 & 3
5     Adopt New Articles of Association         For       For        Management


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

LADBROKES PLC (FORMERLY HILTON GROUP PLC)

Ticker:                      Security ID:  GB00B0ZSH635
Meeting Date: MAY 26, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Re-elect Nicholas Jones as Director       For       For        Management
3     Re-elect Sir Ian Robinson as Director     For       For        Management
4     Elect John O'Reilly as Director           For       For        Management
5     Elect Alan Ross as Director               For       For        Management
6     Elect Rosemary Thorne as Director         For       For        Management
7     Reappoint Ernst & Young LLP as Auditors   For       For        Management
      and Authorise the Board to Determine
      Their Remuneration
8     Approve Remuneration Report               For       For        Management
9     Approve EU Political Organisation         For       For        Management
      Donations up to GBP 10,000 and to Incur
      EU Political Expenditures up to GBP
      10,000; and Authorise Ladbrokes Ltd. to
      Make EU Political Donations up to GBP
      25,000 and to Incur EU Political
      Expenditures up to GBP 25,000
10    Approve Increase in Authorised Capital    For       For        Management
      from GBP 230,000,000 to GBP 253,000,000
11    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 54,450,207
12    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 8,029,922 and up to
      Aggregate Nominal Amount of GBP
      54,450,207 in Connection with a Rights
      Issue
13    Authorise 56,682,299 Ordinary Shares for  For       For        Management
      Market Purchase


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

LAFARGE

Ticker:       LFGEF          Security ID:  FR0000120537
Meeting Date: MAY 24, 2006   Meeting Type: Annual
Record Date:  MAY 23, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Financial Statements and          For       For        Management
      Statutory Reports
2     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 2.55 per Share
4     Approve Special Auditors' Report          For       For        Management
      Regarding Related-Party Transactions
5     Reelect Bernard Kasriel as Director       For       For        Management
6     Reelect Jacques Lefevre as Director       For       For        Management
7     Ratify Deloitte & Associes as Auditor     For       For        Management
8     Ratify Ernst & Young as Auditor           For       For        Management
9     Ratify BEAS as Alternate Auditor          For       For        Management
10    Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
11    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities


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

LAWSON, INC.

Ticker:       2651           Security ID:  JP3982100004
Meeting Date: MAY 26, 2006   Meeting Type: Annual
Record Date:  FEB 28, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 45,
      Final JY 45, Special JY 0
2     Amend Articles to: Expand Business Lines  For       Against    Management
      - Limit Outside Statutory Auditors' Legal
      Liability - Authorize Public
      Announcements in Electronic Format
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
3.4   Elect Director                            For       For        Management
3.5   Elect Director                            For       For        Management
3.6   Elect Director                            For       For        Management
3.7   Elect Director                            For       For        Management
3.8   Elect Director                            For       For        Management
3.9   Elect Director                            For       For        Management
4     Appoint Internal Statutory Auditor        For       Against    Management
5     Approve Stock Option Plan And Deep        For       For        Management
      Discount Stock Option Plan for Directors
6     Approve Retirement Bonus for Statutory    For       For        Management
      Auditor


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

MITSUBISHI ELECTRIC CORP.

Ticker:       6503           Security ID:  JP3902400005
Meeting Date: JUN 29, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Amend Articles to: Limit Non-executive    For       For        Management
      Directors' Legal Liability - Authorize
      Public Announcements in Electronic Format
      - Limit Rights of Odd-lot Holders -
      Update Terminology to Match that of New
      Corporate Law
2.1   Elect Director                            For       For        Management
2.2   Elect Director                            For       For        Management
2.3   Elect Director                            For       For        Management
2.4   Elect Director                            For       For        Management
2.5   Elect Director                            For       For        Management
2.6   Elect Director                            For       For        Management
2.7   Elect Director                            For       For        Management
2.8   Elect Director                            For       For        Management
2.9   Elect Director                            For       Against    Management
2.10  Elect Director                            For       For        Management
2.11  Elect Director                            For       For        Management
2.12  Elect Director                            For       Against    Management


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

MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG

Ticker:                      Security ID:  DE0008430026
Meeting Date: APR 19, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Receive Financial Statements and          None      None       Management
      Statutory Reports
2     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 3.10 per Share
3     Approve Discharge of Management Board for For       For        Management
      Fiscal 2006
4     Approve Discharge of Supervisory Board    For       For        Management
      for Fiscal 2006
5     Authorize Share Repurchase Program and    For       For        Management
      Reissuance of Repurchased Shares
6     Approve Employee Stock Purchase Plan;     For       For        Management
      Approve Creation of EUR 5 Million Pool of
      Capital for Employee Stock Purchase Plan
7     Amend Articles Re: Conducting of          For       For        Management
      Shareholder Meetings due to New German
      Legislation (Law on Company Integrity and
      Modernization of the Right of Avoidance)


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

NATIONAL GRID PLC(FRMRLY. NATIONAL GRID TRANSCO PLC)

Ticker:       NGG            Security ID:  GB0031223877
Meeting Date: JUL 25, 2005   Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Increase Auth. Cap. to GBP 815M;          For       For        Management
      Capitalization up to GBP 315M; Issue B
      Shares with Pre-emp. Rights up to GBP
      315M; Sub-div. and Consol. of Ord. Shares
      into New Ord. Shares; Auth. 10 Percent of
      the Total Number of B Shares for
      Repurchase; Approve Contract
2     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 103,000,000
3     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 15,000,000
4     Conditional Upon Passing of Resolution 1, For       For        Management
      Authorise 271,185,097 New Ordinary Shares
      for Market Purchase; Otherwise Authorise
      309,024,879 Existing Ordinary Shares for
      Market Purchase
5     Amend Articles of Association Re: B       For       For        Management
      Shares and Deferred Shares


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

NATIONAL GRID PLC(FRMRLY. NATIONAL GRID TRANSCO PLC)

Ticker:       NGGTF          Security ID:  GB0031223877
Meeting Date: JUL 25, 2005   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Final Dividend of 15.2 Pence Per  For       For        Management
      Ordinary Share
3     Elect John Allan as Director              For       For        Management
4     Re-elect Paul Joskow as Director          For       For        Management
5     Re-elect Roger Urwin as Director          For       For        Management
6     Re-elect John Grant as Director           For       For        Management
7     Re-elect Steve Holliday as Director       For       For        Management
8     Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors and Authorise the Board to
      Determine Their Remuneration
9     Approve Remuneration Report               For       For        Management
10    Change Company Name to National Grid plc  For       For        Management
11    Amend Memorandum of Association           For       For        Management
12    Adopt New Articles of Association         For       For        Management


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

NEC CORP.

Ticker:       6701           Security ID:  JP3733000008
Meeting Date: JUN 22, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 3,
      Final JY 3, Special JY 0
2     Amend Articles to: Authorize Board to     For       Against    Management
      Determine Income Allocation - Limit
      Outside Statutory Auditors' Legal
      Liability - Limit Rights of Odd-Lot
      Holders - Update Terminology to Match
      that of New Corporate Law
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
3.4   Elect Director                            For       For        Management
3.5   Elect Director                            For       For        Management
3.6   Elect Director                            For       For        Management
3.7   Elect Director                            For       For        Management
3.8   Elect Director                            For       For        Management
3.9   Elect Director                            For       For        Management
3.10  Elect Director                            For       For        Management
3.11  Elect Director                            For       For        Management
3.12  Elect Director                            For       For        Management
3.13  Elect Director                            For       For        Management
3.14  Elect Director                            For       For        Management
3.15  Elect Director                            For       For        Management
4     Appoint Internal Statutory Auditor        For       For        Management
5     Approve Executive Stock Option Plan       For       For        Management
6     Approve Retirement Bonuses for Directors  For       Against    Management
      and Statutory Auditor and Special
      Payments to Continuing Directors and
      Statutory Auditors in Connection with
      Abolition of Retirement Bonus System


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

NESTLE SA

Ticker:       NSRGF          Security ID:  CH0012056047
Meeting Date: APR 6, 2006    Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Discharge of Board and Senior     For       For        Management
      Management
3     Approve Allocation of Income and          For       For        Management
      Dividends of CHF 9 per Share
4     Approve CHF 2.8 Million Reduction in      For       For        Management
      Share Capital
5.1   Reelect Jean-Pierre Meyers as Director    For       For        Management
5.2   Reelect Andre Kudelski as Director        For       For        Management
5.3   Elect Naina Kidwai as Director            For       For        Management
5.4   Elect Jean-Rene Fourtou as Director       For       For        Management
5.5   Elect Steven Hoch as Director             For       For        Management
6     Amend Articles Re: Mandate Board to Draft For       For        Management
      Revised Articles; Waive Quorum
      Requirement and Reduce Supermajority
      Requirement for Adoption of Revised
      Articles at 2007 AGM or Later


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

NORDEA BANK AB (FORMERLY NORDEA AB)

Ticker:                      Security ID:  SE0000427361
Meeting Date: APR 5, 2006    Meeting Type: Annual
Record Date:  MAR 30, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Elect Chairman of Meeting                 For       For        Management
2     Prepare and Approve List of Shareholders  For       For        Management
3     Approve Agenda of Meeting                 For       For        Management
4     Designate Inspector or Shareholder        For       For        Management
      Representative(s) of Minutes of Meeting
5     Acknowledge Proper Convening of Meeting   For       For        Management
6     Receive Financial Statements and          None      None       Management
      Statutory Reports
7     Approve Financial Statements and          For       For        Management
      Statutory Reports
8     Approve Allocation of Income and          For       For        Management
      Dividends of SEK 0.35 per Share
9     Approve Discharge of Board and President  For       For        Management
10    Determine Number of Members and Deputy    For       For        Management
      Members of Board
11    Approve Remuneration of Directors;        For       For        Management
      Approve Remuneration of Auditors
12    Reelect Kjell Aamot, Harald Arnkvaern,    For       For        Management
      Hans Dalborg, Gunnel Duveblad, Birgitta
      Kantola, Anne Birgitte Lundholt, Claus
      Hoeg Madsen, Lars Nordstroem, Timo
      Peltola, and Maija Torkko; Elect Bjoern
      Saven as New Director
13    Approve Composition of Nominating         For       For        Management
      Committee
14A   Amend Articles: Participation in General  For       For        Management
      Meeting; Publication of Meeting Notice
14B   Adopt New Article to Allow Board to       For       For        Management
      Gather Proxies in Accordance with
      Companies Act
14C   Amend Articles Re: Various Changes to     For       For        Management
      Comply with New Swedish Companies Act;
      Other Changes
15    Approve SEK 44.5 Million Reduction In     For       For        Management
      Share Capital via Share Cancellation
16    Approve Capitalization of Reserves of SEK For       For        Management
      1.6 Billion for a Bonus Issue
17    Approve SEX 2.7 Billion Million Transfer  For       For        Management
      from Statutory Reserves to Unrestricted
      Shareholders' Equity
18    Authorize Repurchase of up to 5 Percent   For       For        Management
      of Issued Share Capital for Purposes
      Other Than Equity Trading
19    Authorize Repurchase of up to 1 Percent   For       For        Management
      of Issued Share Capital for Equity
      Trading Purposes
20    Authorization to Raise Loans Where        For       For        Management
      Payable Interest or the Amounts with
      Which the Loan Shall be Repaid Are
      Conditional Upon the Company's Results or
      Financial Position
21    Approve Remuneration Policy And Other     For       For        Management
      Terms of Employment For Executive
      Management


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

NORTHERN ROCK PLC

Ticker:                      Security ID:  GB0001452795
Meeting Date: APR 25, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 20.7 Pence Per  For       For        Management
      Ordinary Share
4     Re-elect Adam Applegarth as Director      For       For        Management
5     Re-elect Sir Ian Gibson as Director       For       For        Management
6     Re-elect Sir Derek Wanless as Director    For       For        Management
7     Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors of the Company
8     Authorise Board to Fix Remuneration of    For       For        Management
      Auditors
9     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 41,296,625
10    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 5,265,325
11    Authorise 42,122,600 Ordinary Shares for  For       For        Management
      Market Purchase
12    Approve the Contingent Share Purchase     For       For        Management
      Contract Between The Company with The
      Northern Rock Foundation and To Purchase
      Foundation Shares


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

NOVARTIS AG

Ticker:                      Security ID:  CH0012005267
Meeting Date: FEB 28, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Discharge of Board and Senior     For       For        Management
      Management
3     Approve Allocation of Income and          For       For        Management
      Dividends of CHF 1.15 per Share
4     Approve CHF 5.1 Million Reduction in      For       For        Management
      Share Capital
5     Amend Articles to Remove 12-Year Term     For       For        Management
      Limit for Board Members
6.1   Accept Retirement of Helmut Sihler as     For       For        Management
      Director
6.2.a Reelect Srikant Datar as Director         For       For        Management
6.2.b Reelect William George as Director        For       For        Management
6.2.c Reelect Wendelin Wiedeking as Director    For       For        Management
6.2.d Reelect Rolf Zinkernagel as Director      For       For        Management
6.3   Elect Andreas von Planta as Director      For       For        Management
7     Ratify PricewaterhouseCoopers AG as       For       For        Management
      Auditors


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

NTT DOCOMO INC.

Ticker:       9437           Security ID:  JP3165650007
Meeting Date: JUN 20, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 2000,
      Final JY 2000, Special JY 0
2     Authorize Share Repurchase Program        For       For        Management
3     Amend Articles to: Expand Business Lines  For       Against    Management
      - Decrease Authorized Capital to Reflect
      Share Repurchase - Limit Liability of
      Directors and Statutory Auditors - Update
      Terminology to Match that of New
      Corporate Law
4.1   Elect Director                            For       For        Management
4.2   Elect Director                            For       For        Management
4.3   Elect Director                            For       For        Management
4.4   Elect Director                            For       For        Management
4.5   Elect Director                            For       For        Management
4.6   Elect Director                            For       For        Management
4.7   Elect Director                            For       For        Management
4.8   Elect Director                            For       For        Management
4.9   Elect Director                            For       For        Management
4.10  Elect Director                            For       For        Management
4.11  Elect Director                            For       For        Management
4.12  Elect Director                            For       For        Management
4.13  Elect Director                            For       For        Management
5     Appoint Internal Statutory Auditor        For       Against    Management
6     Approve Retirement Bonuses for Directors  For       Against    Management
      and Special Payments to Continuing
      Directors and Statutory Auditors in
      Connection with Abolition of Retirement
      Bonus System
7     Approve Adjustment to Aggregate           For       For        Management
      Compensation Ceilings for Directors and
      Statutory Auditors


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

ORICA LTD. (FORMERLY ICI AUSTRALIA)

Ticker:       ORI            Security ID:  AU000000ORI1
Meeting Date: JAN 24, 2006   Meeting Type: Annual
Record Date:  JAN 22, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Receive Financial Statements and          None      None       Management
      Statutory Reports
2.1   Elect Michael Beckett as Director         For       For        Management
2.2   Elect Peter Kirby as Director             For       For        Management
2.3   Elect Noel Meehan as Director             For       For        Management
3     Approve Remuneration of Directors in the  For       For        Management
      Amount of A$1.8 Million
4     Approve Remuneration Report               For       For        Management


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

ORIENTAL LAND CO

Ticker:       4661           Security ID:  JP3198900007
Meeting Date: JUN 29, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 20,
      Final JY 25, Special JY 0
2     Amend Articles to: Limit Directors' Legal For       For        Management
      Liability - Limit Rights of Odd-lot
      Holders - Update Terminology to Match
      that of New Corporate Law - Limit
      Liability of Statutory Auditors


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

OSAKA GAS CO. LTD.

Ticker:       9532           Security ID:  JP3180400008
Meeting Date: JUN 29, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim Ordinary
      JY 3, Interim Special JY 0.5, Final
      Ordinary JY 3, Final Special JY 0.5
2     Amend Articles to: Update Terminology to  For       For        Management
      Match that of New Corporate Law
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
3.4   Elect Director                            For       For        Management
3.5   Elect Director                            For       For        Management
3.6   Elect Director                            For       For        Management
3.7   Elect Director                            For       For        Management
3.8   Elect Director                            For       For        Management
3.9   Elect Director                            For       For        Management
3.10  Elect Director                            For       For        Management
3.11  Elect Director                            For       For        Management
3.12  Elect Director                            For       For        Management
4     Appoint Internal Statutory Auditor        For       For        Management


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

RECKITT BENCKISER PLC (FORMERLY RECKITT & COLMAN PLC )

Ticker:                      Security ID:  GB0007278715
Meeting Date: MAY 4, 2006    Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 21 Pence Per    For       For        Management
      Ordinary Share
4     Re-elect Bart Becht as Director           For       For        Management
5     Re-elect Peter Harf as Director           For       For        Management
6     Elect Gerard Murphy as Director           For       For        Management
7     Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors of the Company
8     Authorise Board to Fix Remuneration of    For       For        Management
      Auditors
9     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 25,360,000
10    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 3,804,000
11    Authorise 72,280,000 Ordinary Shares for  For       For        Management
      Market Purchase
12    Approve Increase in Remuneration of       For       For        Management
      Non-Executive Directors to GBP 1,000,000
13    Approve Reckitt Benckiser Long-Term       For       For        Management
      Incentive Plan
14    Amend Reckitt Benckiser 2005              For       For        Management
      Savings-Related Share Option Plan, 2005
      Global Stock Profit Plan, 2005 USA
      Savings-Related Share Option Plan and
      Senior Executive Share Ownership Policy
      Plan


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

REED ELSEVIER PLC(FORMERLY REED INTERNATIONAL PLC)

Ticker:       RUKEF          Security ID:  GB0007308355
Meeting Date: APR 18, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       Against    Management
3     Approve Final Dividend of 10.7 Pence Per  For       For        Management
      Share
4     Reappoint Deloitte Touche LLP as Auditors For       For        Management
      of the Company
5     Authorize Board to Fix Remuneration of    For       For        Management
      Auditors
6     Elect Lisa Hook as Director               For       For        Management
7     Re-elect Gerard van de Aast as Director   For       For        Management
8     Re-elect Mark Elliott as Director         For       For        Management
9     Re-elect Cees van Lede as Director        For       For        Management
10    Re-elect David Reid as Director           For       For        Management
11    Re-elect Patrick Tierney as Director      For       For        Management
12    Amend Reed Elsevier Group plc Long Term   For       Against    Management
      Incentive Share Option Scheme
13    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 24,300,000
14    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 7,900,000
15    Authorise 127,000,000 Ordinary Shares for For       For        Management
      Market Purchase


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

RENAULT

Ticker:                      Security ID:  FR0000131906
Meeting Date: MAY 4, 2006    Meeting Type: Annual/Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
2     Approve Financial Statements and          For       For        Management
      Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 2.40 per Share
4     Approve Special Auditors' Report          For       For        Management
      Regarding Related-Party Transactions
5     Reelect Carlos Ghosn as Director          For       For        Management
6     Reelect Marc Ladreit de Lacharriere as    For       For        Management
      Director
7     Reelect Jean-Claude Paye as Director      For       For        Management
8     Reelect Franck Riboud as Director         For       For        Management
9     Elect Hiroto Saikawa as Director          For       For        Management
10    Approve Discharge of Francois Pinault     For       For        Management
11    Acknowledge Auditor Report Re:            For       For        Management
      Remuneration of Equity Loans
12    Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
13    Approve Reduction in Share Capital via    For       For        Management
      Cancellation of Repurchased Shares
14    Approve Stock Option Plans Grants         For       For        Management
15    Authorize up to 0.53 Percent of Issued    For       For        Management
      Capital for Use in Restricted Stock Plan
16    Amend Articles of Association Re: Attend  For       For        Management
      Board Meetings by Way of
      Telecommunication
17    Amend Articles of Association to Reflect  For       For        Management
      Legal Changes
18    Amend Articles of Association to Reflect  For       For        Management
      Legal Changes
19    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities


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

REPSOL YPF SA (FORMERLY REPSOL, S.A.)

Ticker:       REPYF          Security ID:  ES0173516115
Meeting Date: JUN 15, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Individual and Consolidated       For       For        Management
      Financial Statements for Fiscal Year
      Ended 12-31-05, Allocation of Income, and
      Discharge Directors
2     Amend Articles 19 and 20 of Bylaws Re:    For       For        Management
      Convocation of General Meetings and Power
      and Obligation to Convene General
      Meetings
3     Amend Article 5 of General Meeting        For       For        Management
      Guidelines Re: Convocation of General
      Meetings
4.1   Ratify Paulina Beato Blanco as Director   For       For        Management
4.2   Ratify Henri Philippe Reichstul as        For       For        Management
      Director
4.3   Elect Other Board Members                 For       Against    Management
5     Elect Auditors                            For       For        Management
6     Authorize Repurchase of Shares; Void      For       For        Management
      Previous Authorization Granted at AGM
      Held on 5-31-05
7     Grant Authorization to the Board to Issue For       For        Management
      Convertible Fixed Rate Securities and
      Warrants with Powers of Excluding
      Preemptive Rights; Void Authorization
      Granted at the AGM Held on 4-21-02
8     Present Report Re: Amendments to General  For       For        Management
      Meeting Guidelines
9     Authorize Board to Ratify and Execute     For       For        Management
      Approved Resolutions


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

ROHM CO. LTD.

Ticker:       6963           Security ID:  JP3982800009
Meeting Date: JUN 29, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 45,
      Final JY 45, Special JY 0
2     Amend Articles to: Expand Business Lines  For       For        Management
      - Limit Rights of Odd-lot Holders -
      Update Terminology to Match that of New
      Corporate Law
3     Elect Director                            For       For        Management
4     Approve Adjustment to Aggregate           For       For        Management
      Compensation Ceiling for Directors


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

ROLLS-ROYCE GROUP PLC ( FORMERLY ROLLS-ROYCE PLC)

Ticker:                      Security ID:  GB0032836487
Meeting Date: MAY 3, 2006    Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Elect Colin Smith as Director             For       For        Management
4     Re-elect Peter Byrom as Director          For       For        Management
5     Re-elect Sir John Rose as Director        For       For        Management
6     Re-elect Ian Strachan as Director         For       For        Management
7     Re-elect Carl Symon as Director           For       For        Management
8     Reappoint KPMG Audit plc as Auditors and  For       For        Management
      Authorise the Board to Determine Their
      Remuneration
9     Authorize Capitalization of Reserves up   For       For        Management
      to GBP 200,000,000 for Bonus Issue;
      Authorise Issue of Equity or
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 200,000,000
10    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 119,988,226
11    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 17,998,233
12    Authorise 176,956,928 Ordinary Shares for For       For        Management
      Market Purchase


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

ROYAL BANK OF SCOTLAND GROUP PLC (THE)

Ticker:                      Security ID:  GB0007547838
Meeting Date: APR 28, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 53.1 Pence Per  For       For        Management
      Ordinary Share
4     Re-elect Bob Scott as Director            For       For        Management
5     Re-elect Peter Sutherland as Director     For       For        Management
6     Re-elect Colin Buchan as Director         For       For        Management
7     Elect Sir Tom McKillop as Director        For       For        Management
8     Elect Janis Kong as Director              For       For        Management
9     Elect Guy Whittaker as Director           For       For        Management
10    Elect Johnny Cameron as Director          For       For        Management
11    Elect Mark Fisher as Director             For       For        Management
12    Elect Bill Friedrich as Director          For       For        Management
13    Reappoint Deloitte & Touche LLP as        For       For        Management
      Auditors of the Company
14    Authorise Board to Fix Remuneration of    For       For        Management
      Auditors
15    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 266,482,100
16    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 39,972,315
17    Authorise 319,778,520 Ordinary Shares for For       For        Management
      Market Purchase
18    Approve EU Political Donations up to GBP  For       For        Management
      250,000 and Incur EU Political
      Expenditure up to GBP 250,000


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

ROYAL DUTCH SHELL PLC

Ticker:                      Security ID:  GB00B03MLX29
Meeting Date: MAY 16, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Elect Jorma Ollila as Director            For       For        Management
4     Elect Nick Land as Director               For       For        Management
5     Re-elect Lord Kerr of Kinlochard as       For       For        Management
      Director
6     Re-elect Jeroen van der Veer as Director  For       For        Management
7     Re-elect Rob Routs as Director            For       For        Management
8     Re-elect Wim Kok as Director              For       For        Management
9     Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors of the Company
10    Authorise Board to Fix Remuneration of    For       For        Management
      Auditors
11    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      EUD 155,000,000
12    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of EUD 23,000,000
13    Authorise 667,000,000 Ordinary Shares for For       For        Management
      Market Purchase
14    Authorise the Company to Make EU          For       For        Management
      Political Organisation Donations up to
      GBP 200,000 and Incur EU Political
      Expenditure up to GBP 200,000
15    Report on Social and Environment Impact   Against   Against    Shareholder
      Assessment


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

RWE AG

Ticker:                      Security ID:  DE0007037129
Meeting Date: APR 13, 2006   Meeting Type: Annual
Record Date:  MAR 23, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Receive Financial Statements, Statutory   None      None       Management
      Reports and Supervisory Board Report
2     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 1.75 per Share
3     Approve Discharge of Management Board for For       For        Management
      Fiscal 2005
4     Approve Discharge of Supervisory Board    For       For        Management
      for Fiscal 2005
5     Ratify PricewaterhouseCoopers AG as       For       For        Management
      Auditors for Fiscal 2006
6.1   Elect Paul Achleitner to the Supervisory  For       For        Management
      Board
6.2   Elect Carl-Ludwig von Boehm-Benzig to the For       For        Management
      Supervisory Board
6.3   Elect Thomas Fischer to the Supervisory   For       For        Management
      Board
6.4   Elect Heinz-Eberhard Holl to the          For       For        Management
      Supervisory Board
6.5   Elect Gerhard Langemeyer to the           For       For        Management
      Supervisory Board
6.6   Elect Dagmar Muehlenfeld to the           For       For        Management
      Supervisory Board
6.7   Elect Wolfgang Reiniger to the            For       For        Management
      Supervisory Board
6.8   Elect Manfred Schneider to the            For       For        Management
      Supervisory Board
6.9   Elect Ekkehard Schulz to the Supervisory  For       For        Management
      Board
6.10  Elect Karel van Miert to the Supervisory  For       For        Management
      Board
7     Authorize Share Repurchase Program and    For       For        Management
      Reissuance or Cancellation of Repurchased
      Shares


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

SAMSUNG ELECTRONICS CO. LTD.

Ticker:                      Security ID:  US7960508882
Meeting Date: FEB 28, 2006   Meeting Type: Annual
Record Date:  DEC 31, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Financial Statements and          For       For        Management
      Appropriation of Income, with a Final
      Dividend of KRW 5000 Per Common Share
2.1   Elect Independent Non-Executive Directors For       For        Management
2.2   Elect Executive Directors                 For       For        Management
2.3   Elect Members of Audit Committee          For       For        Management
3     Approve Limit on Remuneration of          For       For        Management
      Directors


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

SANOFI-AVENTIS (FORMERLY SANOFI-SYNTHELABO )

Ticker:                      Security ID:  FR0000120578
Meeting Date: MAY 31, 2006   Meeting Type: Annual/Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Financial Statements and          For       For        Management
      Statutory Reports
2     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 1.52 per Share
4     Approve Special Auditors' Report          For       For        Management
      Regarding Related-Party Transactions
5     Reelect Lord Douro as Director            For       For        Management
6     Elect Gerard Le Fur as Director           For       For        Management
7     Ratify Ernst & Young Audit as Auditor     For       For        Management
8     Ratify Auditex as Alternate Auditor       For       For        Management
9     Approve Remuneration of Directors in the  For       For        Management
      Aggregate Amount of EUR 1.2 Million
10    Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
11    Approve Merger by Absorption of Rhone     For       For        Management
      Cooper by Sanofi-Aventis, Approve its
      Remuneration, and Approve Capital
      Increase in Connection with the Merger
12    Allocation of Merger Premium              For       For        Management
13    Acknowledge Definitive Realisation of     For       For        Management
      Merger on May 31, 2006, and Capital
      Increase in Connection with the Merger
14    Amend Articles of Association Re: Change  For       For        Management
      in Capital Pursuant to Items Above
15    Amend Articles of Association Board       For       For        Management
      Related Re: Term of Mandate of Chairman
16    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities


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

SCOTTISH POWER PLC

Ticker:       SCPWF          Security ID:  GB0006900707
Meeting Date: JUL 22, 2005   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Re-elect Charles Berry as Director        For       For        Management
4     Re-elect Donald Brydon as Director        For       For        Management
5     Re-elect Nolan Karras as Director         For       For        Management
6     Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors and Authorise the Board to
      Determine Their Remuneration
7     Authorise the Company to Make EU          For       For        Management
      Political Donations up to GBP 80,000 and
      to Incur EU Political Expenditure up to
      GBP 20,000
8     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 310,961,355
9     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 46,644,203
10    Authorise 186,576,813 Ordinary Shares for For       For        Management
      Market Purchase
11    Adopt New Articles of Association         For       For        Management


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

SCOTTISH POWER PLC

Ticker:       SCPWF          Security ID:  GB0006900707
Meeting Date: JUL 22, 2005   Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Sale of PacifiCorp                For       For        Management


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

SCOTTISH POWER PLC

Ticker:       SCPWF          Security ID:  GB0006900707
Meeting Date: MAY 4, 2006    Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Authorise Capital Reorganisation;         For       For        Management
      Authorise 675M B Shares and 148,510,681
      Ord. Shares for Market Purchase; Amend
      Art. of Assoc; Issue Equity With Rights
      up to GBP 207,914,954 and Without Rights
      up to GBP 31,187,243


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

SHINSEI BANK LTD.

Ticker:       8303           Security ID:  JP3729000004
Meeting Date: JUN 27, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director                            For       For        Management
1.2   Elect Director                            For       For        Management
1.3   Elect Director                            For       For        Management
1.4   Elect Director                            For       For        Management
1.5   Elect Director                            For       Against    Management
1.6   Elect Director                            For       Against    Management
1.7   Elect Director                            For       For        Management
1.8   Elect Director                            For       For        Management
1.9   Elect Director                            For       For        Management
1.10  Elect Director                            For       For        Management
1.11  Elect Director                            For       For        Management
1.12  Elect Director                            For       For        Management
1.13  Elect Director                            For       For        Management
1.14  Elect Director                            For       For        Management
1.15  Elect Director                            For       For        Management
2     Amend Articles to: Authorize Public       For       For        Management
      Announcements in Electronic Format -
      Limit Rights of Odd-lot Holders - Update
      Terminology to Match that of New
      Corporate Law
3     Approve Stock Option Plan for Directors   For       For        Management
      and Employees
4     Authorize Share Repurchase Program        For       For        Management


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

SIEMENS AG

Ticker:       SMAWF          Security ID:  DE0007236101
Meeting Date: JAN 26, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Receive Supervisory Board Report,         None      None       Management
      Corporate Governance Report, and
      Compensation Report
2     Receive Financial Statements and          None      None       Management
      Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 1.35 per Share
4     Approve Discharge of Management Board for For       For        Management
      Fiscal 2004/2005
5     Approve Discharge of Supervisory Board    For       For        Management
      for Fiscal 2004/2005
6     Ratify KPMG Deutsche                      For       For        Management
      Treuhand-Gesellschaft AG as Auditors for
      Fiscal 2005/2006
7     Authorize Share Repurchase Program and    For       For        Management
      Reissuance or Cancellation of Repurchased
      Shares
8     Approve Creation of EUR 75 Million Pool   For       For        Management
      of Capital to Guarantee Conversion Rights
      under Stock Option Plans
9     Amend Articles Re: Calling of,            For       For        Management
      Registration for, and Conducting of
      Shareholder Meetings due to New German
      Legislation (Law on Company Integrity and
      Modernization of the Right of Avoidance)


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

SKF AB

Ticker:                      Security ID:  SE0000108227
Meeting Date: APR 25, 2006   Meeting Type: Annual
Record Date:  APR 19, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Open Meeting                              None      None       Management
2     Elect Chairman of Meeting                 For       For        Management
3     Prepare and Approve List of Shareholders  For       For        Management
4     Approve Agenda of Meeting                 For       For        Management
5     Designate Inspector or Shareholder        For       For        Management
      Representative(s) of Minutes of Meeting
6     Acknowledge Proper Convening of Meeting   For       For        Management
7     Receive Financial Statements and          None      None       Management
      Statutory Reports; Receive Board Report
8     Receive President's Report                None      None       Management
9     Approve Financial Statements and          For       For        Management
      Statutory Reports
10    Approve Allocation of Income and          For       For        Management
      Dividends of SEK 4 per Share
11    Approve Discharge of Board and President  For       For        Management
12    Determine Number of Members (8) and       For       For        Management
      Deputy Members (0) of Board
13    Approve Fixed Remuneration of Directors   For       For        Management
      in the Amount of SEK 2.7 Million;
      Authorize Directors to Receive Cash Value
      Equivalent to Market Value of Company
      Class B Shares; Approve Remuneration for
      Committee Work
14    Reelect Anders Scharp (Chairman), Vito    For       For        Management
      Baumgartner, Ulla Litzen, Clas Aake
      Hedstroem, Tom Johnstone, Winnie Fok, and
      Leif Oestling as Directors; Elect Eckhard
      Cordes as New Director
15    Approve Remuneration of Auditors          For       For        Management
16    Approve Remuneration Policy And Other     For       For        Management
      Terms of Employment For Executive
      Management
17    Amend Articles Re: Various Changes to     For       For        Management
      Comply with New Swedish Companies Act
18    Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
19    Authorize Board Chairman and              For       For        Management
      Representatives of Company's Four Largest
      Shareholders to Serve on Nominating
      Committee


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

SOCIETE GENERALE

Ticker:                      Security ID:  FR0000130809
Meeting Date: MAY 30, 2006   Meeting Type: Annual/Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Financial Statements and          For       For        Management
      Statutory Reports
2     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 4.50 per Share
3     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
4     Approve Special Auditors' Report          For       For        Management
      Regarding Related-Party Transactions
5     Reelect Robert A. Day as Director         For       Against    Management
6     Reelect Elie Cohen as Director            For       For        Management
7     Elect Gianemilio Osculati as Director     For       For        Management
8     Elect Luc Vandevelde as Director          For       For        Management
9     Approve Remuneration of Directors in the  For       For        Management
      Aggregate Amount of EUR 750,000
10    Ratify Deloitte & Associes as Auditor     For       For        Management
11    Ratify Ernst & Young Audit as Auditor     For       For        Management
12    Ratify Alain Pons as Alternate Auditor    For       For        Management
13    Ratify Gabriel Galet as Alternate Auditor For       For        Management
14    Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
15    Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities with Preemptive
      Rights up to Aggregate Nominal Amount of
      EUR 220 Million
16    Authorize Issuance of Equity or           For       Against    Management
      Equity-Linked Securities without
      Preemptive Rights up to Aggregate Nominal
      Amount of EUR 110 Million
17    Authorize Board to Increase Capital in    For       Against    Management
      the Event of Demand Exceeding Amounts
      Submitted to Shareholder Vote Above
18    Authorize Capital Increase of up to 10    For       For        Management
      Percent of Issued Capital for Future
      Acquisitions
19    Approve Employee Savings-Related Share    For       Against    Management
      Purchase Plan
20    Approve Stock Option Plans Grants         For       Against    Management
21    Authorize up to Two Percent of Issued     For       Against    Management
      Capital for Use in Restricted Stock Plan
22    Approve Reduction in Share Capital via    For       For        Management
      Cancellation of Repurchased Shares
23    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities


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

TAIYO NIPPON SANSO CORP. (FORMERLY NIPPON SANSO CORP.)

Ticker:       4091           Security ID:  JP3711600001
Meeting Date: JUN 29, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 4,
      Final JY 6, Special JY 0
2     Amend Articles to: Increase Authorized    For       For        Management
      Capital - Update Terminology to Match
      that of New Corporate Law
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
3.4   Elect Director                            For       For        Management
3.5   Elect Director                            For       For        Management
3.6   Elect Director                            For       For        Management
3.7   Elect Director                            For       For        Management
3.8   Elect Director                            For       For        Management
3.9   Elect Director                            For       For        Management
3.10  Elect Director                            For       For        Management
3.11  Elect Director                            For       For        Management
4     Approve Retirement Bonuses for Directors  For       For        Management


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

TELECOM CORPORATION OF NEW ZEALAND LIMITED

Ticker:       TEL            Security ID:  NZTELE0001S4
Meeting Date: OCT 6, 2005    Meeting Type: Annual
Record Date:  OCT 4, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Authorize Board to Fix The Remuneration   For       For        Management
      of the Auditors
2     Elect Roderick Deane as Director          For       For        Management
3     Elect Paul Baines as Director             For       For        Management
4     Elect Patsy Reddy as Director             For       For        Management


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

TELEFONICA S.A. (FORMERLY TELEFONICA DE ESPANA, S.A.)

Ticker:       TEF            Security ID:  ES0178430E18
Meeting Date: JUN 20, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Individual and Consolidated       For       For        Management
      Financial Statements, Allocation of
      Income, and Discharge Directors
2     Approve Merger by Absorption of           For       For        Management
      Telefonica Moviles SA; Adopt Consolidated
      Tax Regime
3.1   Reelect Carlos Colomer Casellas as        For       For        Management
      Director
3.2   Reelect Isidro Faine Casas as Director    For       For        Management
3.3   Reelect Alfonso Ferrari Herrero as        For       For        Management
      Director
3.4   Reelect Luis Lada Diaz as Director        For       For        Management
3.5   Reelect Antonio Massanell Lavilla as      For       For        Management
      Director
3.6   Ratify the Appointment of David Arculus   For       For        Management
      as Director
3.7   Ratify the Appointment of Peter Erskine   For       For        Management
      as Director
3.8   Ratify the Appointment of Julio Linares   For       For        Management
      Lopez as Director
3.9   Ratify the Appointment of Vitalino Manuel For       For        Management
      Nafria Aznar as Director
4     Approve Equity-Based Incentive Plan       For       For        Management
5     Authorize Repurchase of Shares            For       For        Management
6     Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities without
      Preemptive Rights
7     Authorize Board to Ratify and Execute     For       For        Management
      Approved Resolutions


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

TELEKOM AUSTRIA AG

Ticker:                      Security ID:  AT0000720008
Meeting Date: MAY 23, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Receive Financial Statements and          None      Did Not    Management
      Statutory Reports                                   Vote
2     Approve Allocation of Income              For       Did Not    Management
                                                          Vote
3     Approve Discharge of Management and       For       Did Not    Management
      Supervisory Board                                   Vote
4     Approve Remuneration of Supervisory Board For       Did Not    Management
      Members                                             Vote
5     Ratify Auditors                           For       Did Not    Management
                                                          Vote
6     Elect Supervisory Board Members           For       Did Not    Management
                                                          Vote
7     Receive Report on Share Repurchase        None      Did Not    Management
      Program                                             Vote
8a    Authorize Repurchase of Up to Ten Percent For       Did Not    Management
      of Issued Share Capital for Issuance to             Vote
      Board Members and Key Employees
8b    Approve Use of Own Shares for Settlement  For       Did Not    Management
      of Convertible Bonds                                Vote
8c    Approve Use of Own Shares for Purchase of For       Did Not    Management
      Companies                                           Vote
8d    Approve EUR 109 Million Reduction in      For       Did Not    Management
      Share Capital                                       Vote
8e    Authorize Reissuance of Repurchased       For       Did Not    Management
      Shares                                              Vote
9a    Amend 2003 Stock Option Plan              For       Did Not    Management
                                                          Vote
9b    Approve Stock Option Plan for Key         For       Did Not    Management
      Employees; Approve Creation of EUR 21.8             Vote
      Million Pool of Conditional Capital to
      Guarantee Conversion Rights


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

TOKYO GAS CO. LTD.

Ticker:       9531           Security ID:  JP3573000001
Meeting Date: JUN 29, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 3.5,
      Final JY 3.5, Special JY 0
2     Authorize Share Repurchase Program        For       For        Management
3     Amend Articles to: Update Terminology to  For       For        Management
      Match that of New Corporate Law - Limit
      Rights of Odd-Lot Holders
4.1   Elect Director                            For       For        Management
4.2   Elect Director                            For       For        Management
4.3   Elect Director                            For       For        Management
4.4   Elect Director                            For       For        Management
4.5   Elect Director                            For       For        Management
4.6   Elect Director                            For       For        Management
4.7   Elect Director                            For       For        Management
4.8   Elect Director                            For       For        Management
4.9   Elect Director                            For       For        Management
4.10  Elect Director                            For       For        Management
4.11  Elect Director                            For       For        Management
4.12  Elect Director                            For       For        Management
5     Appoint Internal Statutory Auditor        For       For        Management
6     Approve Annual Ceiling on Director        For       For        Management
      Bonuses


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

TOTAL SA (FORMERLY TOTAL FINA ELF  S.A )

Ticker:       TTFNF          Security ID:  FR0000120271
Meeting Date: MAY 12, 2006   Meeting Type: Annual/Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Financial Statements and          For       For        Management
      Statutory Reports
2     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 6.48 per Share
4     Approve Accounting Transfer from Special  For       For        Management
      Long-Term Capital Gains Reserve Account
      to Other Reserves Account
5     Approve Special Auditors' Report          For       For        Management
      Regarding Related-Party Transactions
6     Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
7     Reelect Anne Lauvergeon as Director       For       For        Management
8     Reelect Daniel Bouton as Director         For       Against    Management
9     Reelect Bertrand Collomb as Director      For       For        Management
10    Reelect Antoine Jeancourt-Galignani as    For       For        Management
      Director
11    Reelect Michel Pebereau as Director       For       Against    Management
12    Reelect Pierre Vaillaud as Director       For       For        Management
13    Elect Christophe de Margerie  as Director For       Against    Management
14    Approve Partial Spin-Off Agreement to     For       For        Management
      Arkema
15    Approve 1-for-4 Stock Split               For       For        Management
16    Amend Article 11 Regarding the Number of  For       For        Management
      Shares to Be Held By Directors
A     Amend Article 11 to Require a Majority of Against   For        Shareholder
      Independent Directors on Board
B     Grant a Second Board Mandate to an        Against   Against    Shareholder
      Employee Shareholder Representative


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

UBS AG

Ticker:       UBS            Security ID:  CH0012032030
Meeting Date: APR 19, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Allocation of Income and          For       For        Management
      Dividends of CHF 3.20 per Share
3     Approve Discharge of Board and Senior     For       For        Management
      Management
4.1.1 Reelect Rolf Meyer as Director            For       For        Management
4.1.2 Reelect Ernesto Bertarelli as Director    For       For        Management
4.2.1 Elect Gabrielle Kaufmann-Kohler as        For       For        Management
      Director
4.2.2 Elect Joerg Wolle as Director             For       For        Management
4.3   Ratify Ernst & Young Ltd. as Auditors     For       For        Management
4.4   Ratify BDO Visura as Special Auditors     For       For        Management
5.1   Approve CHF 29.7 Million Reduction in     For       For        Management
      Share Capital via Cancellation of
      Repurchased Shares
5.2   Authorize Repurchase of Issued Share      For       For        Management
      Capital
5.3   Approve Reduction in Share Capital via    For       For        Management
      Capital Repayment of CHF 0.60 per Share
5.4   Approve 2:1 Stock Split                   For       For        Management
5.5.1 Amend Articles to Reflect Changes in      For       For        Management
      Capital
5.5.2 Amend Articles Re: Capital Holding        For       For        Management
      Requirement for Submitting Shareholder
      Proposals
6     Approve Creation of CHF 15 Million Pool   For       Against    Management
      of Capital without Preemptive Rights to
      Service Existing Stock Option Plan


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

UNILEVER N.V.

Ticker:                      Security ID:  NL0000009348
Meeting Date: MAY 8, 2006    Meeting Type: Annual
Record Date:  MAY 1, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Receive Report of Management Board and    None      None       Management
      Remuneration Committee
2     Approve Financial Statements and          For       For        Management
      Allocation of Income
3     Approve Discharge of Executive Directors  For       For        Management
4     Approve Discharge of Non-Executive        For       For        Management
      Directors
5a    Approve Share Equalization; Amend         For       For        Management
      Articles Re: Euro Conversion, Share
      Split, and Dematerialization; Amend
      Equalization Agreement
5b    Amend Articles Re: Change Board           For       For        Management
      Nomination Procedure
5c    Amend Deed of Mutual Covenants            For       For        Management
6a    Reelect P.J. Cescau as Executive Director For       For        Management
6b    Reelect C.J. van der Graaf as Executive   For       For        Management
      Director
6c    Reelect R.D. Kugler as Executive Director For       For        Management
6d    Reelect R.H.P. Markham as Executive       For       For        Management
      Director
7a    Reelect A. Burgmans as Non-Executive      For       For        Management
      Director
7b    Reelect The Rt Hon The Lord Brittan of    For       For        Management
      Spennithorne as Non-Executive Director
7c    Reelect The Rt Hon The Baroness Chalker   For       For        Management
      of Wallasey QC, DL as Non-Executive
      Director
7d    Reelect W. Dik as Non-Executive Director  For       For        Management
7e    Reelect Lord Simon of Highbury CBE as     For       For        Management
      Non-Executive Director
7f    Reelect J. van der Veer as Non-Executive  For       For        Management
      Director
7g    Elect C.E. Golden as Non-Executive        For       For        Management
      Director
7h    Elect B.E. Grote as Non-Executive         For       For        Management
      Director
7i    Elect J-C. Spinetta as Non-Executive      For       For        Management
      Director
7j    Elect K.J. Storm as Non-Executive         For       For        Management
      Director
8     Approve Remuneration as Non-Executive     For       For        Management
      Directors
9     Ratify PricewaterhouseCoopers Accountants For       For        Management
      N.V. as Auditors
10    Grant Board Authority to Issue Authorized For       For        Management
      yet Unissued Shares Restricting/Excluding
      Preemptive Rights up to 10 Percent of
      Issued Share Capital (20 Percent in
      Connection with Merger of Acquisition)
11    Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
12    Allow Questions                           None      None       Management


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

UNILEVER N.V.

Ticker:                      Security ID:  NL0000009348
Meeting Date: OCT 13, 2005   Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Open Meeting; Receive Announcements       None      None       Management
2     Receive Report by Nedamtrust(Non-Voting)  None      None       Management
3A    Receive Further Explanation of the        None      None       Management
      Desirability of a New Trust Office
3B    Introduction of the Proposed Members of   None      None       Management
      the Board of the Newly Established
      Foundation Stichting
      Administratie-kantoor Unilever N.V.
3C    Confidence in the Board                   For       For        Management
4     Approve Transfer of Administration of     For       For        Management
      Shares from Nedamtrust to a New
      Foundation, Stichting
      Administratiekantoor Unilever N.V.
5     Allow Questions                           None      None       Management
6     Close Meeting                             None      None       Management


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

UNITED OVERSEAS BANK LIMITED

Ticker:       UOVEF          Security ID:  SG1M31001969
Meeting Date: APR 27, 2006   Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Amend Articles of Association             For       For        Management
2     Authorize Share Repurchase Program        For       For        Management
3     Approve Preference Share Issue Mandate    For       For        Management


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

UNITED OVERSEAS BANK LIMITED

Ticker:       UOVEF          Security ID:  SG1M31001969
Meeting Date: APR 27, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Adopt Financial Statements and Directors' For       For        Management
      and Auditors' Reports
2     Declare Final Dividend of SGD 0.40 Per    For       For        Management
      Share
3     Approve Directors' Fees of SGD 760,000    For       For        Management
      (2004: SGD 600,000)
4     Reappoint Ernst & Young as Auditors and   For       For        Management
      Authorize Board to Fix Their Remuneration
5     Reelect Cham Tao Soon as Director         For       For        Management
6     Reelect Philip Yeo Liat Kok as Director   For       For        Management
7     Reelect Michael Lien Jown Leam as         For       For        Management
      Director
8     Reelect Wee Chow Yaw as Director          For       Against    Management
9     Reelect Lim Pin as Director               For       For        Management
10    Approve Issuance of Shares without        For       For        Management
      Preemptive Rights
11    Approve Issuance of Preference Shares     For       For        Management


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

UNITED OVERSEAS BANK LIMITED

Ticker:       UOVEF          Security ID:  SG1M31001969
Meeting Date: NOV 18, 2005   Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Increase in Authorized Capital by For       For        Management
      the Creation of 20,000 Class A Preference
      Shares of $0.01 Each; 200,000 Class B
      Preference Shares of SGD 0.01 Each; and
      40,000 Class C Preference Shares of EUR
      0.01 Each; and Amend Articles of
      Association
2     Approve Preference Share Issue Mandate    For       For        Management


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

VODAFONE GROUP PLC

Ticker:       VODPF          Security ID:  GB0007192106
Meeting Date: JUL 26, 2005   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Re-elect Lord MacLaurin of Knebworth as   For       For        Management
      Director
3     Re-elect Paul Hazen as Director           For       For        Management
4     Re-elect Arun Sarin as Director           For       For        Management
5     Re-elect Sir Julian Horn-Smith as         For       For        Management
      Director
6     Re-elect Peter Bamford as Director        For       For        Management
7     Re-elect Thomas Geitner as Director       For       For        Management
8     Re-elect Michael Boskin as Director       For       For        Management
9     Re-elect Lord Broers as Director          For       For        Management
10    Re-elect John Buchanan as Director        For       For        Management
11    Re-elect Penny Hughes as Director         For       For        Management
12    Re-elect Jurgen Schrempp as Director      For       For        Management
13    Re-elect Luc Vandevelde as Director       For       For        Management
14    Elect Sir John Bond as Director           For       For        Management
15    Elect Andrew Halford as Director          For       For        Management
16    Approve Final Dividend of 2.16 Pence Per  For       For        Management
      Ordinary Share
17    Approve Remuneration Report               For       For        Management
18    Reappoint Deloitte & Touche LLP as        For       For        Management
      Auditors of the Company
19    Authorise the Audit Committee to Fix      For       For        Management
      Remuneration of the Auditors
20    Authorise the Company and Any Company     For       For        Management
      Which is or Becomes a Subsidiary of the
      Company to Make EU Political Organisation
      Donations up to GBP 50,000 and Incur EU
      Political Expenditure up to GBP 50,000
21    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      USD 900,000,000
22    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of USD 320,000,000
23    Authorise 6,400,000,000 Ordinary Shares   For       For        Management
      for Market Purchase
24    Amend Memorandum of Association and       For       For        Management
      Articles of Association Re:
      Indemnification of Directors
25    Approve the Vodafone Global Incentive     For       For        Management
      Plan


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

WOLSELEY PLC

Ticker:       WOSLF          Security ID:  GB0009764027
Meeting Date: NOV 17, 2005   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 17.6 Pence Per  For       For        Management
      Ordinary Share
4     Elect Robert Marchbank as Director        For       For        Management
5     Re-elect Robert Walker as Director        For       For        Management
6     Re-elect Stephen Webster as Director      For       For        Management
7     Re-elect John Whybrow as Director         For       For        Management
8     Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors of the Company
9     Authorise Board to Fix Remuneration of    For       For        Management
      the Auditors
10    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 50,000,000
11    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 7,401,875
12    Authorise 59,215,005 Ordinary Shares for  For       For        Management
      Market Purchase
13    Authorise the Company to Make EU          For       For        Management
      Political Organisation Donations and
      Incur EU Political Expenditure up to GBP
      125,000

========== END NPX REPORT




                                   SIGNATURES

     Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

(Registrant): Morgan Stanley International Value Equity Fund
             -----------------------------------------------



By (Signature and Title):


                                     /s/ Ronald E. Robison

               President and Principal Executive Officer - Office of the Funds
               ---------------------------------------------------------------


Date August 28, 2006
     ---------------















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