Exhibit (a)(2)

CIGNA Investment Securities ("Fund") - Proxy Voting Procedures

Responsibility:

     1.   Compliance Department
     2.   Proxy Voting Committee
     3.   Analysts and Portfolio Managers

Discussion:

     1.   Compliance identifies those Clients for which TimesSquare Capital
          Management, Inc. and its affiliates (together "TSCM") have been
          instructed to vote proxies. While it will be very unusual for the Fund
          to own voting securities, these procedures have been developed to
          provide guidance relative to the voting of proxies by the Fund.

     2.   Working with the key proxy voting decision makers, that is, analysts
          and portfolio managers, Compliance develops guidelines for voting on
          management and shareholder proposals. The proxy voting guidelines are
          reviewed and approved annually by the Proxy Voting Committee. The
          Proxy Voting Committee is composed of the CR&IS Chief Investment
          Officer, TSCM President, President of the CIGNA Funds Group, and TSCM
          Chief Counsel.

     3.   To address potential material conflicts of interest between the
          interests of the adviser and its affiliates and interests of the
          adviser's clients, the adviser has:

          a.   Established a firewall around the portfolio managers and
               analysts. There are no communications between portfolio
               managers/analysts and associates of CIGNA Healthcare, Group,
               International or CR&IS (Retirement) (together referred to as
               "CIGNA") with respect to proxy voting issues. The purpose of the
               firewall is to prevent even the appearance that CIGNA's existing
               and potential client relationships influence proxy votes.

          b.   Developed pre-determined proxy voting guidelines that are
               approved by the Proxy Voting Committee. Proposals to vote in a
               manner inconsistent with the pre-determined guidelines must be
               approved by the Proxy Voting Committee.

     4.   Proxy voting guidelines have been developed to protect/improve
          shareholder value through protection of shareholder rights, and
          prevention of excessive and unwarranted compensation for companies'
          directors, management, and employees. The Fund's objectives only, to
          the extent known, shall be considered.

     5.   Compliance is responsible to ensure all proxy ballots are voted, and
          are voted in accordance with policies and procedures described in this
          policy.




                                                                  Exhibit (a)(2)

     6.   After consulting with analysts and portfolio managers, Compliance
          presents voting recommendations on ballots to the Proxy Voting
          Committee, which reviews and approves/disapproves recommendations.

     7.   Compliance is responsible for reporting exceptions and/or non-routine
          or new matters to the Proxy Voting Committee. Compliance also provides
          the Committee with reports that provide an overview of voting results.