UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington DC 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-01028

IVY FUNDS
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(Exact Name as Specified in Charter)

6300 Lamar Avenue, Overland Park, Kansas           66202-4200
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(Address of Principal Executive Office)           (Zip Code)

Kristen A. Richards, 6300 Lamar Avenue, Overland Park, Kansas 66202-4200
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(Name and Address of Agent for Service)

Registrant's Telephone Number, including Area Code (913) 236-2000

Date of fiscal year end: March 31

Date of reporting period: July 1, 2003 to June 30, 2004

Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant's proxy voting record for the most recent twelve-month period ended June 30, pursuant to Section 30 of the Investment Company Act of 1940 and Rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.

IVY BALANCED FUND

Proxy Voting Record

COSTCO WHOLESALE CORPORATION			COST	Annual Meeting Date: 01/29/2004
Issuer: 22160K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	For	Yes
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

EMERSON ELECTRIC CO.			EMR	Annual Meeting Date: 02/03/2004
Issuer: 291011		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

THE WALT DISNEY COMPANY			DIS	Annual Meeting Date: 03/03/2004
Issuer: 254687		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	Withheld	Yes
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - HUMAN RIGHTS RELATED		Shareholder	Against	No
04	S/H PROPOSAL - HUMAN RIGHTS RELATED		Shareholder	For	Yes
05	S/H PROPOSAL - BUSINESS/INVESTMENT		Shareholder	Against	No

ANALOG DEVICES, INC.			ADI	Annual Meeting Date: 03/09/2004
Issuer: 032654		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

NOKIA CORPORATION			NOK	Annual Meeting Date: 03/25/2004
Issuer: 654902		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1A	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
1B	DIVIDEND		Management	For	No
1C	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
1E	ELECTION OF DIRECTORS		Management	For	No
1G	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
2	AUTHORIZE DIRECTORS TO DECREASE SHARE CAPITAL		Shareholder	For	No
3	AUTHORIZE DIRECTORS TO INCREASE SHARE CAPITAL		Shareholder	Against	Yes
4	AUTHORIZE REISSUANCE OF REPURCHASED SHARES		Shareholder	For	No
5	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Shareholder	Against	Yes
6	AUTHORIZE DIRECTORS TO INCREASE SHARE CAPITAL		Shareholder	For	No
7	CHANGE STOCK EXCHANGE LISTING		Management	Against

THE GOLDMAN SACHS GROUP, INC.			GS	Annual Meeting Date: 03/31/2004
Issuer: 38141G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

SCHLUMBERGER LIMITED (SCHLUMBERGER N			SLB	Annual Meeting Date: 04/14/2004
Issuer: 806857		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BP P.L.C.			BP	Annual Meeting Date: 04/15/2004
Issuer: 055622		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
07	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
08	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
09	ARTICLES OF ASSOCIATION		Management	Against	Yes
10	ALLOT SECURITIES		Shareholder	Against	Yes
11	ALLOT SECURITIES		Shareholder	For	No
12	AUTHORIZE DIRECTORS TO REPURCHASE SHARES		Management	For	No
13	SHARE SCHEME		Management	For	No
14	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
15	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
16	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
17	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

CITIGROUP INC.			C	Annual Meeting Date: 04/20/2004
Issuer: 172967		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	Against	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No

MORGAN STANLEY			MWD	Annual Meeting Date: 04/20/2004
Issuer: 617446		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - REPORT ON EMPLOYEES EARNING OVER		Shareholder	For	Yes
	$100,000
04	S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER		Shareholder	Against	No
	VOTE
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

SMITH INTERNATIONAL, INC.			SII	Annual Meeting Date: 04/20/2004
Issuer: 832110		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BURLINGTON NORTHERN SANTA FE CORPORA			BNI	Annual Meeting Date: 04/21/2004
Issuer: 12189T		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BURLINGTON RESOURCES INC.			BR	Annual Meeting Date: 04/21/2004
Issuer: 122014		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

THE COCA-COLA COMPANY			KO	Annual Meeting Date: 04/21/2004
Issuer: 191216		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
09	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

JOHNSON & JOHNSON			JNJ	Annual Meeting Date: 04/22/2004
Issuer: 478160		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - ESTABLISH NOMINATING COMMITTEE		Shareholder	Against	No

PFIZER INC.			PFE	Annual Meeting Date: 04/22/2004
Issuer: 717081		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	For	Yes
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
09	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	Against	No
10	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

WYETH			WYE	Annual Meeting Date: 04/22/2004
Issuer: 983024		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
04	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	No

ABBOTT LABORATORIES			ABT	Annual Meeting Date: 04/23/2004
Issuer: 002824		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

DOMINION RESOURCES, INC.			D	Annual Meeting Date: 04/23/2004
Issuer: 25746U		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - REINCORPORATE OUT OF DELAWARE		Shareholder	Against	No

AMERICAN EXPRESS COMPANY			AXP	Annual Meeting Date: 04/26/2004
Issuer: 025816		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

CHUBB CORPORATION			CB	Annual Meeting Date: 04/27/2004
Issuer: 171232		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

INTERNATIONAL BUSINESS MACHINES CORP			IBM	Annual Meeting Date: 04/27/2004
Issuer: 459200		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	AMEND LONG TERM INCENTIVE PLAN		Management	For	No
05	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
08	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
09	S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE		Shareholder	Against	No
	COMPENSATION
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
11	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
12	S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE		Shareholder	Against	No
	COMPENSATION

MANPOWER INC.			MAN	Annual Meeting Date: 04/27/2004
Issuer: 56418H		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

WELLS FARGO & COMPANY			WFC	Annual Meeting Date: 04/27/2004
Issuer: 949746		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

CLEAR CHANNEL COMMUNICATIONS, INC.			CCU	Annual Meeting Date: 04/28/2004
Issuer: 184502		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

E. I. DU PONT DE NEMOURS AND COMPANY			DD	Annual Meeting Date: 04/28/2004
Issuer: 263534		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

EATON CORPORATION			ETN	Annual Meeting Date: 04/28/2004
Issuer: 278058		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

GENERAL ELECTRIC COMPANY			GE	Annual Meeting Date: 04/28/2004
Issuer: 369604		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
0A	ELECTION OF DIRECTORS		Management	For	No
0B	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
0C	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	No
01	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
02	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	No
03	S/H PROPOSAL - OPT OUT OF ANTI-TAKEOVER STATUTE		Shareholder	Against	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	S/H PROPOSAL - ELIMINATE CUMULATIVE VOTING		Shareholder	Against	No
08	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	Against	No
	RATIFY POISON PILL
09	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
11	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	For	Yes
12	S/H PROPOSAL - ENHANCE STOCK VALUE VIA MERGER/SALE		Shareholder	Against	No
13	S/H PROPOSAL - OVERRIDE CSA VOTE RESTRICTIONS		Shareholder	Against	No
14	S/H PROPOSAL - REQUIRE MAJORITY OF DIRECTORS		Shareholder	Against	No
	TO BE INDEPENDENT
15	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

ALCOA INC.			AA	Annual Meeting Date: 04/30/2004
Issuer: 013817		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
3A	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
3B	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

SBC COMMUNICATIONS INC.			SBC	Annual Meeting Date: 04/30/2004
Issuer: 78387G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	DECLASSIFY BOARD		Management	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No

BERKSHIRE HATHAWAY INC.			BRKA	Annual Meeting Date: 05/03/2004
Issuer: 084670		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

SEALED AIR CORPORATION			SEE	Annual Meeting Date: 05/05/2004
Issuer: 81211K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

SAP AG			SAP	Annual Meeting Date: 05/06/2004
Issuer: 803054		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
02	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
03	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
04	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
05	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
06	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
07	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
08	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes

COLGATE-PALMOLIVE COMPANY			CL	Annual Meeting Date: 05/07/2004
Issuer: 194162		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER		Shareholder	Against	No
	VOTE
05	S/H PROPOSAL - HUMAN RIGHTS RELATED		Shareholder	Against	No
06	S/H PROPOSAL - REQUIRE MAJORITY OF DIRECTORS		Shareholder	For	Yes
	TO BE INDEPENDENT

INTERNATIONAL PAPER COMPANY			IP	Annual Meeting Date: 05/11/2004
Issuer: 460146		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND LONG TERM INCENTIVE PLAN		Management	For	No
04	AMEND LONG TERM INCENTIVE PLAN		Management	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

TRIBUNE COMPANY			TRB	Annual Meeting Date: 05/12/2004
Issuer: 896047		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

AMGEN INC.			AMGN	Annual Meeting Date: 05/13/2004
Issuer: 031162		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
3A	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
3B	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

COOPER CAMERON CORPORATION			CAM	Annual Meeting Date: 05/13/2004
Issuer: 216640		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

LINCOLN NATIONAL CORPORATION			LNC	Annual Meeting Date: 05/13/2004
Issuer: 534187		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT NON-EMPLOYEE DIRECTOR PLAN		Management	For	No

THE DOW CHEMICAL COMPANY			DOW	Annual Meeting Date: 05/13/2004
Issuer: 260543		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	APPROVE CHARTER AMENDMENT		Management	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

DEAN FOODS COMPANY			DF	Annual Meeting Date: 05/18/2004
Issuer: 242370		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

INTEL CORPORATION			INTC	Annual Meeting Date: 05/19/2004
Issuer: 458140		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

LIZ CLAIBORNE, INC.			LIZ	Annual Meeting Date: 05/20/2004
Issuer: 539320		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

THE MAY DEPARTMENT STORES COMPANY			MAY	Annual Meeting Date: 05/21/2004
Issuer: 577778		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
A	ELECTION OF DIRECTORS		Management	For	No
B	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
C	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
D	AMEND STOCK OPTION PLAN		Management	For	No

EXXON MOBIL CORPORATION			XOM	Annual Meeting Date: 05/26/2004
Issuer: 30231G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
10	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
11	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	No

THE SOUTHERN COMPANY			SO	Annual Meeting Date: 05/26/2004
Issuer: 842587		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT NON-EMPLOYEE DIRECTOR PLAN		Management	For	No

NABORS INDUSTRIES LTD.			NBR	Annual Meeting Date: 06/01/2004
Issuer: G6359F		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	APPROVE REINCORPORATION TO DELAWARE		Management	Against	No

INGERSOLL-RAND COMPANY LIMITED			IR	Annual Meeting Date: 06/02/2004
Issuer: G4776G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
03	APPROVE CHARTER AMENDMENT		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes
06	S/H PROPOSAL - REINCORPORATE IN OTHER STATE		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No

WAL-MART STORES, INC.			WMT	Annual Meeting Date: 06/04/2004
Issuer: 931142		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	ADOPT STOCK PURCHASE PLAN		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
09	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
11	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

COUNTRYWIDE FINANCIAL CORPORATION			CFC	Annual Meeting Date: 06/16/2004
Issuer: 222372		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

CHECK POINT SOFTWARE TECHNOLOGIES LT			CHKP	Annual Meeting Date: 06/30/2004
Issuer: M22465		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
03	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
04	APPROVE RENUMERATION OF DIRECTORS		Management	For	No
05	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

IVY BOND FUND

Proxy Voting Record

There was no proxy voting for Ivy Bond Fund, a series of the Registrant, for the period covered by this report, pursuant to Section 30 of the Investment Company Act of 1940, as amended, and Rule 30b1-4 thereunder.

IVY CASH RESERVES FUND

Proxy Voting Record

There was no proxy voting for Ivy Cash Reserves Fund, a series of the Registrant, for the period covered by this report, pursuant to Section 30 of the Investment Company Act of 1940, as amended, and Rule 30b1-4 thereunder.

IVY CUNDILL GLOBAL VALUE FUND

Proxy Voting Record

IVY CUNDILL GLOBAL VALUE FUND - PROXY VOTING SUMMARY (JULY 2003 - JUNE 2004)
Issuer	Ticker	CUSIP	Meeting Date	Issue Voted On	Proposed by?	Did the fund vote?	How did the fund vote?	For / Against Management	Comments
Aiful	8515 JP	6019419 JP	25-Jun-04	Payment of Dividend	Management	Yes	For	For	None
				Amendment to Articles of Incorporation	Management	Yes	For	For
				Election of Directors	Management	Yes	For	For
				Election of Auditor	Management	Yes	For	For
				Bonus payment to retired auditor	Management	Yes	For	For
				Issue of stock options	Management	Yes	For	For
Asatsu	9747 JP	6056052 JP	30-Mar-04	Payment of Dividend	Management	Yes	For	For	None
				Approve Reduction in Legal Reserve	Management	Yes	For	For
				Amendment to Articles of Incorporation	Management	Yes	For	For
				Election of Directors	Management	Yes	For	For
				Payment of retirement bonus.	Management	Yes	For	For
Citic Pacific	267 HK	6196512 HK	10-May-04	Approve Audited Accounts	Management	Yes	For	For	None
				Approve Dividend	Management	Yes	For	For
				Election of Directors	Management	Yes	For	For
				Election of Auditor	Management	Yes	For	For
				Approve Director Remuneration	Management	Yes	For	For
				Amendment to Articles of Association	Management	Yes	For	For
				Grant a general mandate to directors to issue 20% of issued share capital.	Management	Yes	For	For
				Grant a general mandate to directors to purchase no more than 10% of issued share capital.	Management	Yes	For	For
				Add the aggregate nominal amount of shares from Resolutions 7 and 8 under the general mandate.	Management	Yes	For	For
Coca Cola West	2579 JP	6163286 JP	26-Mar-04	Approve proposed appropriation of retained earnings.	Management	Yes	For	For	None
				Amendment to Articles of Incorporation	Management	Yes	For	For
				Election of statutory auditors.	Management	Yes	For	For
				Free grant of subscription rights of new shares of the company.	Management	Yes	For	For
				Payment of retirement bonus.	Management	Yes	For	For
First Pacific	142 HK	6339872 HK	24-May-04	Approve audited accounts, reports of directors and auditors for FY2003.	Management	Yes	For	For	None
				Re-appoint Auditors	Management	Yes	For	For
				Appointment of directors.	Management	Yes	For	For
				Appointment of independent non-executive director.	Management	Yes	For	For
				Fix Directors remuneration	Management	Yes	For	For
				Authorize the appointment of additional directors.	Management	Yes	For	For
				Authorize company to allot, issue and deal with additional shares.	Management	Yes	For	For
				Approve share repurchase plan.	Management	Yes	For	For
				Authorize the re issue of shares repurchased.	Management	Yes	For	For
				Amendments of Bye-laws.	Management	Yes	For	For
				Approve termination of existing share option plan.	Management	Yes	For	For
				Approve new share option plan.	Management	Yes	For	For
Guoco Group	53 HK	6390363 HK	None	None	None	None	None	None	None
Henkel	HEN GR	5002465 DE	19-Apr-04	Approve 2003 Financials	Management	Yes	For	For	Blocking - shares unavailable for trading once vote has been cast, until after the meeting
				Approve Dividend	Management	Yes	For	For
				Ratify the acts of the General Partners	Management	Yes	For	For
				Ratify the acts of the Supervisory Board	Management	Yes	For	For
				Ratify the acts of the Shareholders Committee	Management	Yes	For	For
				Appoint Auditors for the FY 2004	Management	Yes	For	For
				Elect the Shareholders Committee	Management	Yes	For	For
				Approve share repurchase plan.	Management	Yes	For	For
				Amendment to Articles of Association	Management	Yes	For	For
				Approve the Company's Control and Profit Transfer Agreement	Management	Yes	For	For
Italmobiliare	ITMR IM	4492227 IT	None	None	None	None	None	None	None
Jardine Strategic	JS SP	6472960 SG	25-Mar-04	Approve 2003 Financials	Management	Yes	For	For	None
				Election of Directors	Management	Yes	For	For
				Approve Director Remuneration	Management	Yes	For	For
				Re-appoint Auditors	Management	Yes	For	For
				Authorize rights issue	Management	Yes	For	For
				Authorize share re-purchase	Management	Yes	For	For
				Authorize purchase of Jardine Matheson Stock	Management	Yes	For	For
Kikkoman	2801 JP	6490809 JP	25-Jun-04	Payment of Dividend	Management	Yes	For	For	None
				Amendment to Articles of Incorporation	Management	Yes	For	For
				Election of Directors	Management	Yes	For	For
				Election of Auditor	Management	Yes	For	For
				Approve Retirement Bonuses	Management	Yes	For	For
				Issue of stock options	Management	Yes	For	For
Kirin	2503 JP	6493745 JP	30-Mar-04	Payment of Dividend	Management	Yes	For	For	None
				Amendment to Articles of Incorporation	Management	Yes	For	For
				Election of Directors	Management	Yes	For	For
				Election of Auditor	Management	Yes	For	For
				Approve Retirement Bonuses	Management	Yes	For	For
KTG	033780 KS	6175076 KR	18-Mar-04	Approve 2003 Financials	Management	Yes	For	For	None
				Amendment to Articles of Incorporation	Management	Yes	For	For
				Appoint President	Management	Yes	For	For
				Appoint 2 Executive Directors	Management	Yes	For	For
				Appoint 1 Outside Director	Management	Yes	For	For
				Appoint Audit committee members	Management	Yes	For	For
				Approve Director Remuneration	Management	Yes	For	For
				Amend Retirement Allowances of Directors	Management	Yes	For	For
				Amend Retirement Allowances of Officers	Management	Yes	For	For
Legacy Hotels	LGY-U CN	2125633 CA	22-Apr-04	Election of Directors	Management	No	N/A	N/A	Information on proxy received late.
				Election of Auditor	Management	No	N/A	N/A
				Special Resolution 1	Management	No	N/A	N/A
				Special Resolution 2	Management	No	N/A	N/A
				Special Resolution 3	Management	No	N/A	N/A
				Special Resolution 4	Management	No	N/A	N/A
				Special Resolution 5	Management	No	N/A	N/A
				Special Resolution 6	Management	No	N/A	N/A
Liberty Media	L US	2780816 US	9-Jun-04	Election of Directors	Management	Yes	For	For	None
				Ratification of Auditors	Management	Yes	For	For
				Incentive Plan Proposal	Management	Yes	For	For
Lion Corp	4912 JP	6518808 JP	30-Mar-04	Payment of Dividend	Management	Yes	For	For	None
				Amendment to Articles of Incorporation	Management	Yes	For	For
				Authorize share re-purchase	Management	Yes	For	For
				Issue of stock options	Management	Yes	For	For
				Election of Directors	Management	Yes	For	For
				Bonus payment to retired directors	Management	Yes	For	For
				Approve Director Remuneration	Management	Yes	For	For
Loews	LTR US	2523022 US	11-May-04	Election of Directors	Management	Yes	For	For	None
				Ratification of Auditors	Management	Yes	For	For
				Cumulative Voting Proposal	Shareholders	Yes	Against	For
				Environmental Tobacco Smoke Proposal	Shareholders	Yes	Abstain	N/A
				Charitable Contribution Proposal	Shareholders	Yes	Against	For
Mattel Inc	MAT US	2572303 US	13-May-04	Election of Directors	Management	Yes	For	For	None
				Ratification of Auditors	Management	Yes	For	For
				Management Compensation Proposal	Shareholders	Yes	For	Against
				Independent Auditor Proposal	Shareholders	Yes	Abstain	N/A
MCI-When Issued	MCIA US	2345077 US	None	None	None	None	None	None	None
Nikko Cordial	8603 JP	6640284 JP	24-Jun-04	Payment of Dividend	Management	Yes	For	For	None
				Amendment to Articles of Incorporation	Management	Yes	For	For
				Election of Directors	Management	Yes	For	For
				Approve Stock Option Plan	Management	Yes	For	For
				Approve Special Payment to Auditors	Management	Yes	For	For
Nintendo	7974 JP	6639550 JP	29-Jun-04	Payment of Dividend	Management	Yes	For	For	None
				Amendment to Articles of Incorporation	Management	Yes	For	For
				Election of Directors	Management	Yes	For	For
				Election of Auditor	Management	Yes	For	For
				Bonus payment to retired directors	Management	Yes	For	For
Nipponkoa	8754 JP	6643380 JP	29-Jun-04	Approve appropriation of retained earnings	Management	Yes	For	For	None
				Amendment to Articles of Incorporation	Management	Yes	For	For
				Election of Directors	Management	Yes	For	For
				Election of Auditor	Management	Yes	For	For
				Issue of stock options	Management	Yes	For	For
				Approve Retirement Bonuses	Management	Yes	For	For
Nippon Tv	9404 JPP	6644080 JP	29-Jun-04	Payment of Dividend	Management	Yes	For	For	None
				Amendment to Articles of Incorporation	Management	Yes	For	For
				Election of Directors	Management	Yes	For	For
				Election of Auditor	Management	Yes	For	For
				Approve Retirement Bonuses	Management	Yes	For	For
Sankyo	4501 JP	6775283 JP	29-Jun-04	Payment of Dividend	Management	Yes	For	For	None
				Amendment to Articles of Incorporation	Management	Yes	For	For
				Election of Directors	Management	Yes	For	For
				Election of Auditor	Management	Yes	For	For
				Issue of stock options	Management	Yes	For	For
Shiseido	4911 JP	6805265 JP	29-Jun-04	Payment of Dividend	Management	Yes	For	For	None
				Amendment to Articles of Incorporation	Management	Yes	For	For
				Election of Directors	Management	Yes	For	For
				Election of Auditor	Management	Yes	For	For
				Bonus payment to retired directors	Management	Yes	For	For
				Bonus payment to retired auditor	Management	Yes	For	For
				Issue of stock options	Management	Yes	For	For
Singapore Press	SPH SP	B012899 SG	7-May-04	Approval of capital reduction plan.	Management	Yes	For	For	None
Tokyo Broadcasting	9401 JP	6894166 JP	29-Jun-04	Payment of Dividend	Management	Yes	For	For	None
				Amendment to Articles of Incorporation	Management	Yes	For	For
				Election of Directors	Management	Yes	For	For
				Election of Auditor	Management	Yes	For	For
				Approve Retirement Bonuses	Management	Yes	For	For
				Issue of stock options	Management	Yes	For	For

IVY DIVIDEND INCOME FUND

Proxy Voting Record

BOSTON SCIENTIFIC CORPORATION			BSX	Special Meeting Date: 10/06/2003
Issuer: 101137		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE CHARTER AMENDMENT		Management	For	No

THE PROCTER & GAMBLE COMPANY			PG	Annual Meeting Date: 10/14/2003
Issuer: 742718		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

MICROSOFT CORPORATION			MSFT	Annual Meeting Date: 11/11/2003
Issuer: 594918		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	Against	Yes
03	AMEND NON-EMPLOYEE DIRECTOR PLAN		Management	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

THE CLOROX COMPANY			CLX	Annual Meeting Date: 11/19/2003
Issuer: 189054		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

AIR PRODUCTS AND CHEMICALS, INC.			APD	Annual Meeting Date: 01/22/2004
Issuer: 009158		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CAPITOL FEDERAL FINANCIAL			CFFN	Annual Meeting Date: 01/27/2004
Issuer: 14057C		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
I	ELECTION OF DIRECTORS		Management	For	No
II	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

EMERSON ELECTRIC CO.			EMR	Annual Meeting Date: 02/03/2004
Issuer: 291011		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

DEERE & COMPANY			DE	Annual Meeting Date: 02/25/2004
Issuer: 244199		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

BANK OF AMERICA CORPORATION			BAC	Special Meeting Date: 03/17/2004
Issuer: 060505		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE MERGER AGREEMENT		Management	For	No
02	AMEND STOCK OPTION PLAN		Management	For	No
03	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
04	APPROVE MOTION TO ADJOURN MEETING		Management	Against	Yes

NOKIA CORPORATION			NOK	Annual Meeting Date: 03/25/2004
Issuer: 654902		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1A	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
1B	DIVIDEND		Management	For	No
1C	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
1E	ELECTION OF DIRECTORS		Management	For	No
1G	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
2	AUTHORIZE DIRECTORS TO DECREASE SHARE CAPITAL		Shareholder	For	No
3	AUTHORIZE DIRECTORS TO INCREASE SHARE CAPITAL		Shareholder	Against	Yes
4	AUTHORIZE REISSUANCE OF REPURCHASED SHARES		Shareholder	For	No
5	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Shareholder	Against	Yes
6	AUTHORIZE DIRECTORS TO INCREASE SHARE CAPITAL		Shareholder	For	No
7	CHANGE STOCK EXCHANGE LISTING		Management	Against

THE GOLDMAN SACHS GROUP, INC.			GS	Annual Meeting Date: 03/31/2004
Issuer: 38141G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

CATERPILLAR INC.			CAT	Annual Meeting Date: 04/14/2004
Issuer: 149123		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Yes
	RATIFY POISON PILL
05	S/H PROPOSAL - SPIN-OFF/SELL COMPANY ASSETS		Shareholder	Against	No
06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

SCHLUMBERGER LIMITED (SCHLUMBERGER N			SLB	Annual Meeting Date: 04/14/2004
Issuer: 806857		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ELI LILLY AND COMPANY			LLY	Annual Meeting Date: 04/19/2004
Issuer: 532457		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

GENUINE PARTS COMPANY			GPC	Annual Meeting Date: 04/19/2004
Issuer: 372460		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Yes
	RATIFY POISON PILL
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

CITIGROUP INC.			C	Annual Meeting Date: 04/20/2004
Issuer: 172967		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	Against	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No

MORGAN STANLEY			MWD	Annual Meeting Date: 04/20/2004
Issuer: 617446		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - REPORT ON EMPLOYEES EARNING OVER		Shareholder	For	Yes
	$100,000
04	S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER		Shareholder	Against	No
	VOTE
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

BURLINGTON RESOURCES INC.			BR	Annual Meeting Date: 04/21/2004
Issuer: 122014		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

THE COCA-COLA COMPANY			KO	Annual Meeting Date: 04/21/2004
Issuer: 191216		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
09	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

JOHNSON & JOHNSON			JNJ	Annual Meeting Date: 04/22/2004
Issuer: 478160		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - ESTABLISH NOMINATING COMMITTEE		Shareholder	Against	No

PFIZER INC.			PFE	Annual Meeting Date: 04/22/2004
Issuer: 717081		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	For	Yes
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
09	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	Against	No
10	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

WYETH			WYE	Annual Meeting Date: 04/22/2004
Issuer: 983024		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
04	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	No

ABBOTT LABORATORIES			ABT	Annual Meeting Date: 04/23/2004
Issuer: 002824		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

DOMINION RESOURCES, INC.			D	Annual Meeting Date: 04/23/2004
Issuer: 25746U		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - REINCORPORATE OUT OF DELAWARE		Shareholder	Against	No

MERRILL LYNCH & CO., INC.			MER	Annual Meeting Date: 04/23/2004
Issuer: 590188		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

GOODRICH CORPORATION			GR	Annual Meeting Date: 04/27/2004
Issuer: 382388		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

INTERNATIONAL BUSINESS MACHINES CORP			IBM	Annual Meeting Date: 04/27/2004
Issuer: 459200		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	AMEND LONG TERM INCENTIVE PLAN		Management	For	No
05	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
08	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
09	S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE		Shareholder	Against	No
	COMPENSATION
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
11	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
12	S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE		Shareholder	Against	No
	COMPENSATION

WELLS FARGO & COMPANY			WFC	Annual Meeting Date: 04/27/2004
Issuer: 949746		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

ANHEUSER-BUSCH COMPANIES, INC.			BUD	Annual Meeting Date: 04/28/2004
Issuer: 035229		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BAKER HUGHES INCORPORATED			BHI	Annual Meeting Date: 04/28/2004
Issuer: 057224		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	For	Yes
04	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Yes
	RATIFY POISON PILL

E. I. DU PONT DE NEMOURS AND COMPANY			DD	Annual Meeting Date: 04/28/2004
Issuer: 263534		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

GENERAL ELECTRIC COMPANY			GE	Annual Meeting Date: 04/28/2004
Issuer: 369604		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
0A	ELECTION OF DIRECTORS		Management	For	No
0B	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
0C	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	No
01	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
02	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	No
03	S/H PROPOSAL - OPT OUT OF ANTI-TAKEOVER STATUTE		Shareholder	Against	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	S/H PROPOSAL - ELIMINATE CUMULATIVE VOTING		Shareholder	Against	No
08	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	Against	No
	RATIFY POISON PILL
09	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
11	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	For	Yes
12	S/H PROPOSAL - ENHANCE STOCK VALUE VIA MERGER/SALE		Shareholder	Against	No
13	S/H PROPOSAL - OVERRIDE CSA VOTE RESTRICTIONS		Shareholder	Against	No
14	S/H PROPOSAL - REQUIRE MAJORITY OF DIRECTORS		Shareholder	Against	No
	TO BE INDEPENDENT
15	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

VERIZON COMMUNICATIONS INC.			VZ	Annual Meeting Date: 04/28/2004
Issuer: 92343V		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
04	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
05	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	For	Yes
06	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Yes
	RATIFY POISON PILL
07	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	No
08	STOCK TRANSFER AGREEMENT		Management	Against	No
09	MISCELLANEOUS COMPENSATION PLANS		Management	Against	No
10	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	No
11	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	No

ALTRIA GROUP, INC.			MO	Annual Meeting Date: 04/29/2004
Issuer: 02209S		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
04	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
06	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
07	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes

ALCOA INC.			AA	Annual Meeting Date: 04/30/2004
Issuer: 013817		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
3A	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
3B	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

SBC COMMUNICATIONS INC.			SBC	Annual Meeting Date: 04/30/2004
Issuer: 78387G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	DECLASSIFY BOARD		Management	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No

THE BOEING COMPANY			BA	Annual Meeting Date: 05/03/2004
Issuer: 097023		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	SUPERMAJORITY		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - MILITARY/WEAPONS		Shareholder	Against	No
05	S/H PROPOSAL - HUMAN RIGHTS RELATED		Shareholder	For	Yes
06	S/H PROPOSAL - REPORT ON EMPLOYEES EARNING OVER		Shareholder	For	Yes
	$100,000
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	For	Yes
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
10	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

KNIGHT-RIDDER, INC.			KRI	Annual Meeting Date: 05/04/2004
Issuer: 499040		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

SIMON PROPERTY GROUP, INC.			SPG	Annual Meeting Date: 05/05/2004
Issuer: 828806		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	For	Yes

ANADARKO PETROLEUM CORPORATION			APC	Annual Meeting Date: 05/06/2004
Issuer: 032511		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	No

SAP AG			SAP	Annual Meeting Date: 05/06/2004
Issuer: 803054		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
02	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
03	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
04	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
05	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
06	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
07	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
08	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes

UNITED PARCEL SERVICE, INC.			UPS	Annual Meeting Date: 05/06/2004
Issuer: 911312		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

COLGATE-PALMOLIVE COMPANY			CL	Annual Meeting Date: 05/07/2004
Issuer: 194162		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER		Shareholder	Against	No
	VOTE
05	S/H PROPOSAL - HUMAN RIGHTS RELATED		Shareholder	Against	No
06	S/H PROPOSAL - REQUIRE MAJORITY OF DIRECTORS		Shareholder	For	Yes
	TO BE INDEPENDENT

STARWOOD HOTELS & RESORTS WORLDWIDE,			HOT	Annual Meeting Date: 05/07/2004
Issuer: 85590A		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	Against	Yes
04	DECLASSIFY BOARD		Management	For	No

KINDER MORGAN, INC.			KMI	Annual Meeting Date: 05/11/2004
Issuer: 49455P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT STOCK OPTION PLAN		Management	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
05	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

SLM CORPORATION			SLM	Annual Meeting Date: 05/13/2004
Issuer: 78442P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

THE DOW CHEMICAL COMPANY			DOW	Annual Meeting Date: 05/13/2004
Issuer: 260543		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	APPROVE CHARTER AMENDMENT		Management	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

PROLOGIS			PLD	Annual Meeting Date: 05/18/2004
Issuer: 743410		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

EQUITY OFFICE PROPERTIES TRUST			EOP	Annual Meeting Date: 05/19/2004
Issuer: 294741		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

FPL GROUP, INC.			FPL	Annual Meeting Date: 05/21/2004
Issuer: 302571		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND LONG TERM INCENTIVE PLAN		Management	For	No
04	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
05	AMEND LONG TERM INCENTIVE PLAN		Management	For	No
06	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No

THE MAY DEPARTMENT STORES COMPANY			MAY	Annual Meeting Date: 05/21/2004
Issuer: 577778		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
A	ELECTION OF DIRECTORS		Management	For	No
B	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
C	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
D	AMEND STOCK OPTION PLAN		Management	For	No

FANNIE MAE			FNM	Annual Meeting Date: 05/25/2004
Issuer: 313586		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No
04	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No

BANK OF AMERICA CORPORATION			BAC	Annual Meeting Date: 05/26/2004
Issuer: 060505		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
05	S/H PROPOSAL - ESTABLISH NOMINATING COMMITTEE		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

EXXON MOBIL CORPORATION			XOM	Annual Meeting Date: 05/26/2004
Issuer: 30231G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
10	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
11	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	No

MAGUIRE PROPERTIES INC.				Annual Meeting Date: 06/03/2004
Issuer: 559775		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

PATTERSON-UTI ENERGY, INC.			PTEN	Annual Meeting Date: 06/29/2004
Issuer: 703481		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

IVY EUROPEAN OPPORTUNITIES FUND

Proxy Voting Record

Vote Summary Report from 07/01/03 to 06/30/04.
Sorted by Company Name.
In All Markets, for all statuses, for IEONPE - Ivy European Opportunuities Fund.
Mtg	Company/			Security/	Mgmt	Vote	Record	Shares
Date/Type	Ballot Issues			Proponent	Rec	Cast	Date	Voted
04/22/04 AGM	Aalberts Industries			5139620			4/19/04	0
	1	Open Meeting
	2	Receive Report of Management Board
	3	Approve Financial Statements		Mgmt	For
	4	Approve Dividends		Mgmt	For
	5	Approve Discharge of Management Board		Mgmt	For
	6	Approve Discharge of Supervisory Board		Mgmt	For
	7	Authorize Repurchase of Up to Ten Percent of Issued Share Capital		Mgmt	For
	8	Grant Board Authority to Issue All Authorized Yet Unissued Shares Restricting/Excluding Preemptive Rights		Mgmt	For
	9	Approve Company's Corporate Governance Policy		Mgmt	For
	10	Discontinue Two-Tiered Board Structure		Mgmt	For
	11	Amend Articles Re: Termination of Two-Tiered Board Structure; Corporate Governance Policy (Items 9-10)		Mgmt	For
	12	Ratify PricewaterhouseCoopers Accountants N.V. as Auditors		Mgmt	For
	13	Reelect A. Land and P. Niessen as Members of Supervisory Board		Mgmt	For
	14	Other Business
	15	Close Meeting
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
05/20/04 AGM	Acs, Actividades De Construcciones (Formerly Gines Navarro C			5333381			N/A	0
	1	Approve Individual and Group Financial Statements, Allocation of Income; Present Corporate Governance Report		Mgmt	For
	2	Approve Discharge of Management Board		Mgmt	For
	3	Elect Management Board		Mgmt	For
	4	Authorize Repurchase of Shares		Mgmt	For
	5	Approve Auditors		Mgmt	For
	6	Approve Reduction in Share Capital via Cancellation of 902,453 Treasury Shares; Amend Articles Accordingly		Mgmt	For
	7	Approve 3:1 Stock Split and Subsequent Reduction in Par Value to EUR 0.50 from EUR 1.50		Mgmt	For
	8	Amend Articles 13, 15, 20b, 22, 26, and 28 Re: Board Numbers, Composition, Functions, and General Meetings Attendance and Information		Mgmt	For
	9	Approve Stock Option Plan		Mgmt	For
	10	Approve General Meeting Guidelines; Present Report Re: Board Guidelines		Mgmt	For
	11	Authorize Board to Ratify and Execute Approved Resolutions		Mgmt	For
	12	Approve Minutes of Meeting		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
09/04/03 EGM	Ahold Kon Nv			5252602			N/A	0
	1	Open Meeting
	2	Receive Explanation with Respect to Deferral of Publication of 2002 Annual Accounts and Annual Report
	3.1A	Elect A.C. Moberg to Management Board		Mgmt	For
	3.1B	Elect M. van Olffen to Management Board		Mgmt	Against
	3.2A	Elect H.R. Ryoeppoenen to Management Board		Mgmt	For
	3.2B	Elect J.W. Hoevers to Management Board		Mgmt	Against
	4	Receive Presentation about Company's New Strategy
	5	Close Meeting
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
11/26/03 AGM	Ahold Kon Nv			5252602			N/A	0
	1	Open Meeting
	2	Receive Report for Fiscal Year 2002 by Management Board
	3	Approve Financial Statements for Fiscal Year 2002		Mgmt	For
	4	Elect Management Board		Mgmt	For
	5	Amend Articles Re: Increase Authorized Share Capital to EUR 1.25 Billion; Make Supervisory Board Nomination to Executive Board Non Binding; Require Quorum to Adopt Shareholder Proposals; Remove Age Limit for Supervisory Board Membership		Mgmt	For
	6.1	Grant Board Authority to Issue Authorized Yet Unissued Shares Restricting/Excluding Preemptive Rights		Mgmt	For
	6.2	Grant Board Authority to Exclude Preemptive Rights from Issuance Under Item 6.1		Mgmt	For
	7	Authorize Repurchase of Up to Ten Percent of Issued Share Capital		Mgmt	For
	8	Receive Information about Bonus of CEO Anders Moberg
	9	Allow Questions; Close Meeting
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
03/03/04 EGM	Ahold Kon Nv			5252602			N/A	0
	1	Open Meeting
	2	Discussion of Company's Corporate Governance Structure
	3	Amend Articles Re: Changes to Company's Corporate Governance Structure to Reflect Recommendations by Dutch Corporate Governance Code		Mgmt	For
	4	Approve Terms Governing Conversion of Cumulative Preferred Financing Shares into Common Shares		Mgmt	For
	5	Approve Remuneration Policy of Executive Board		Mgmt	For
	6	Receive Information on Current Investigations and Lawsuits
	7	Adjourn Meeting
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
06/02/04 AGM	Ahold Kon Nv			5252602			N/A	0
	1	Open Meeting
	2	Receive Report Regarding Company Strategy ('Road to Recovery')
	3.1	Approve Financial Statements and Statutory Reports		Mgmt	For
	3.2	Receive Explanation of Company's Reserves and Dividend Policy
	3.3	Approve Discharge of Management Board		Mgmt	For
	3.4	Approve Discharge of Supervisory Board		Mgmt	For
	4.1	Elect Rene Dahan to Supervisory Board		Mgmt	For
	4.2	Elect Karen de Segundo to Supervisory Board		Mgmt	For
	5	Ratify Deloitte & Touche as Auditors		Mgmt	For
	6	Authorize Board to Change Official Language of the Annual Report to English		Mgmt	For
	7	Close Meeting
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
06/24/04 AGM	ALEA GROUP HOLDINGS (BERMUDA) LTD			3374638			N/A	0
	1	Accept Financial Statements and Statutory Reports (Voting)		Mgmt	For
	2	Reappoint Deloitte & Touche LLP as Auditors		Mgmt	For
	3	Reappoint A Atkins as Director		Mgmt	For
	4	Reappoint R Hilliard as Director		Mgmt	For
	5	Reappoint J Reeve as Director		Mgmt	For
	6	Reappoint D Purkiss as Director		Mgmt	For
	7	Reappoint T Faries as Director		Mgmt	For
	8	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 582,263		Mgmt	For
		Special Business
	9	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 87,339		Mgmt	For
	10	Amend Bylaws Re: Allow Mailing of Proxies to Addresses in the United States		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
06/14/04 AGM	ALTADIS SA			5444012			N/A	0
	1	Approve Financial Statements, Allocation of Income and Distribution of EUR 0.80 Per Share Dividend, and Discharge Directors		Mgmt	For
	2	Ratify Management Board		Mgmt	For
	3	Approve Auditors		Mgmt	For
	4	Approve EUR 4.4 Million Reduction in Capital Via Cancellation of 7.3 Million Shares; Ammend Company's By-Laws Accordingly		Mgmt	For
	5	Authorize Share Repurchase Program		Mgmt	For
	6	Authorize Issuance of Bonds		Mgmt	For
	7	Amend Articles 22, 23, 25, and 28 Re: Elimination of Shareholidng Requirement to Attend Shareholder Meetings, Remote Voting, Elimination of Supermajority Quorums and Vote Requirement for Certain Proposals, Increase Shareholders' Access to Information		Mgmt	For
	8	Approve General Meeting Guidelines		Mgmt	For
	9	Authorize Board to Ratify and Execute Approved Resolutions		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
03/30/04 AGM	ANDRITZ AG			7141311			N/A	0
	1	Receive Financial Statements and Statutory Reports
	2	Approve Allocation of Income and Dividends of EUR 1.00 per Share		Mgmt	For
	3	Approve Discharge of Management Board		Mgmt	For
	4	Approve Discharge of Supervisory Board		Mgmt	For
	5	Approve Remuneration for Supevisory Board Members		Mgmt	For
	6	Ratify Auditors		Mgmt	For
	7	Elect Supervisory Board Members		Mgmt	For
	8	Authorize Repurchase of Up to Ten Percent of Issued Share Capital; Authorize Board to Issue Repurchased Shares as New Shares without Preemptive Rights		Mgmt	For
	9	Approve Stock Option Plan for Key Employees		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
05/06/04 AGM	Austrian Airlines			5288726			N/A	0
	1	Receive Financial Statements and Statutory Reports
	2	Approve Discharge of Management and Supervisory Boards		Mgmt	For
	3	Approve Remuneration of Directors		Mgmt	For
	4	Ratify Auditors		Mgmt	For
	5	Report Regarding Inventory of Shares
	6	Authorize Repurchase of Up to Five Percent of Issued Share Capital		Mgmt	For
	7	Elect Supervisory Board Members		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
02/27/04 AGM	Banco Bilbao Vizcaya Argentaria			5501906			2/27/04	0
	1	Approve Financial Statements, Allocation of Income and Distribution of Dividend, and Discharge Directors		Mgmt	For
	2	Authorize Issuance of Equity or Equity-Linked Securities with or without Preemptive Rights		Mgmt	For
	3	Authorize Issuance of Bonds up to Aggregate Nominal Amount of EUR 71.8 Billion		Mgmt	For
	4	Amend Articles 24, 29, 31, 34, 35, 37, 38, 45 Re: Attendance Rights, Shareholder Information Rights, Adoption of Agreements, Board Election and Size, Board Member Requirements, Board Vacancies, Chairman and Secretary, Creation and Composition of Board		Mgmt	For
	5	Approve General Meeting Guidelines; Information Re: Board Guidelines		Mgmt	For
	6	Approve Listing (or Delisting) of Shares on Secondary/Foreign Exchanges		Mgmt	For
	7	Authorize Repurchase of Shares and Subsequent Cancellation of Repurshased Shares		Mgmt	For
	8	Reelect Deloitte & Touche Espana, S.L. as Auditors		Mgmt	For
	9	Elect Jose Antonio Fernandez Rivero and Carlos Loring as New Directors; Reelect Directors		Mgmt	For
	10	Approve Fund Transfer to Employee Retirement Fund		Mgmt	For
	11	Authorize Board to Ratify and Execute Approved Resolutions		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
10/08/03 EGM	Buhrmann N.V. (Formerly Knp Bt (N.V. Koninklijke Knp)			5516751			N/A	0
	1	Open Meeting
	2.1	Approve Sale of Paper Merchanting Division for a Consideration of Between EUR 706 and EUR 732 Million to PaperlinX Ltd.		Mgmt	For
	2.2	Amend Articles Regarding Convertible Class C Preference Shares (Conversion Price, Dividends, Other Terms) to Reflect Sale of Paper Merchanting Division		Mgmt	For
	3	Elect John Hannan to Supervisory Board		Mgmt	For
	4	Other Business (Non-Voting)
	5	Close Meeting
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
04/29/04 AGM	Buhrmann N.V. (Formerly Knp Bt (N.V. Koninklijke Knp)			5516751			N/A	0
	1	Open Meeting
	2.1	Receive Report of Management and Supervisory Boards
	2.2	Approve Financial Statements and Statutory Reports		Mgmt	For
	2.3	Approve Allocation of Income and Dividends of EUR 0.07 Per Share		Mgmt	For
	2.4	Approve Discharge of Management Board		Mgmt	For
	2.5	Approve Discharge of Supervisory Board		Mgmt	For
	3	Approve Company's Reserves and Dividend Policy		Mgmt	For
	4	Discussion about Company's Corporate Governance Report
	5.1	Approve Remuneration Report		Mgmt	For
	5.2	Approve Stock Option Plan for Management Board		Mgmt	For
	6	Amend Articles Re: Introduce Non-Binding Nomination for Appointments to Boards; Allow Shareholders Controlling 1% of Share Capital or Shares up to EUR 10 Million Nominal Value to Submit Shareholder Proposals		Mgmt	For
	7	Reelect P. van den Hoek and A. Jacobs as Members of the Supervisory Board; Elect S. Barnes as New Member to Supervisory Board		Mgmt	For
	8	Ratify PricewaterhouseCoopers as Auditors		Mgmt	For
	9	Authorize Repurchase of Up to Ten Percent of Issued Share Capital		Mgmt	For
	10.1	Grant Board Authority to Issue Ordinary Shares Up to 20 Percent of Issued Share Capital as well as All Authorized Yet Unissued Preference B Shares		Mgmt	For
	10.2	Grant Board Authority to Exclude the Preemptive Rights from Issuance of Under Item 10.1		Mgmt	For
	11	Other Business
	12	Close Meeting
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
09/15/03 EGM	Coca-Cola Hellenic Bottling Co.			4420723			N/A	0
	1	Authorize EUR 518.3 Million Capitalization of Reserves for Increase in Par Value from EUR 0.31 to EUR 2.50 Per Share; Amend Article No. 3 Correspondingly		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
10/31/03 EGM	Coca-Cola Hellenic Bottling Co.			4420723			N/A	0
	1	Approve EUR 473.3 Million Reduction in Share Capital via Decrease in Par Value from EUR 2.50 to EUR 0.50 Per Share for Bonus Payment to Shareholders; Amend Article 3 Accordingly		Mgmt	For
	2	Approve Repricing of Options		Mgmt	For
	3	Elect Director to Replace Director That Has Resigned		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
06/10/04 MIX	Compagnie De Saint Gobain			7380482			N/A	0
		Ordinary Business
	1	Approve Financial Statements and Statutory Reports		Mgmt	For
	2	Accept Consolidated Financial Statements and Statutory Reports		Mgmt	For
	3	Approve Allocation of Income and Dividends of EUR 1.725 per Share		Mgmt	For
	4	Approve Special Auditors' Report Regarding Related-Party Transactions		Mgmt	For
	5	Authorize Repurchase of Up to Ten Percent of Issued Share Capital		Mgmt	For
	6	Reelect Jean-Louis Beffa as Director		Mgmt	For
	7	Reelect Isabelle Bouillot as Director		Mgmt	For
	8	Reelect Sylvia Jay as Director		Mgmt	For
	9	Reelect Jose Luis Leal as Director		Mgmt	For
	10	Ratify Appointment of Gian Paolo Caccini as Director		Mgmt	For
	11	Ratify PricewaterhouseCoopers Audit as Auditors		Mgmt	For
	12	Ratify KPMG Audit as Auditors		Mgmt	For
	13	Ratify Yves Nicolas as Alternate Auditor		Mgmt	For
	14	Ratify Jean-Paul Vellutini as Alternate Auditor		Mgmt	For
		Special Business
	15	Amend Articles of Association to Reflect 2003 Legal Changes Re: Shareholding Disclosure Requirement, Access to Company Information, and Responsibilities of the Chairman		Mgmt	For
	16	Authorize Filing of Required Documents/Other Formalities		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
04/30/04 AGM	Credit Suisse Group (Formerly Cs Holding)			7171589			N/A	0
	1	Accept Financial Statements and Statutory Reports		Mgmt	For
	2	Approve Discharge of Board and Senior Management		Mgmt	For
	3.1	Approve Allocation of Income and Omission of Dividends		Mgmt	For
	3.2	Approve CHF 597.5 Million Reduction in Share Capital via Reduction in Par Value and Repayment to Shareholders		Mgmt	For
	4.1	Reelect Thomas Bell and Aziz Syriani as Directors; Elect Peter Weibel, Noreen Doyle, and David Syz as Directors		Mgmt	For
	4.2	Reelect KPMG Klynveld Peat Marwick Goerdeler SA as Auditors		Mgmt	For
	4.3	Reelect BDO Sofirom as Special Auditors		Mgmt	For
	5.1	Amend Articles Re: Submission of Shareholder Proposals		Mgmt	For
	5.2	Amend Articles Re: Delete Provisions Concerning Contributions In Kind		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
04/26/04 AGM	Depfa Bank plc			7255999		With	N/A	11,000
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Declare Final Dividend		Mgmt	For	For
	3a	Reelect Reinhare Grzesik as Director		Mgmt	For	For
	3b	Reelect Thomas Kolbeck as Director		Mgmt	For	For
	3c	Reelect Jacques Poos as Director		Mgmt	For	For
	3d	Reelect Hans Reich as Director		Mgmt	For	For
	3e	Reelect Jurgen Karcher as Director		Mgmt	For	For
	4	Authorize Board to Fix Remuneration of Auditors		Mgmt	For	For
	5	Approve Sub-division of Ordinary Share Capital		Mgmt	For	For
	6	Approve Increase in Authorized Capital and Authorize New Class of Preferred Stock		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		11,000
			Total Shares Voted:		11,000
05/06/04 AGM	DEUTSCHE POST AG			4617859			N/A	0
	1	Receive Financial Statements and Statutory Reports
	2	Approve Allocation of Income and Dividends of EUR 0.44 per Share		Mgmt	For
	3	Approve Discharge of Management Board		Mgmt	For
	4	Approve Discharge of Supervisory Board		Mgmt	For
	5	Ratify PwC Deutsche Revision AG as Auditors		Mgmt	For
	6	Authorize Share Repurchase Program and Reissuance of Repurchased Shares		Mgmt	For
	7	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 1 Billion with Preemptive Rights; Approve Creation of EUR 56 Million Pool of Conditional Capital to Guarantee Conversion Rights		Mgmt	For
	8	Amend Articles Re: Board Renumeration due to Changes in German Disclosure Regulations		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
01/23/04 AGM	Dr. Ing. f.c.F. Porsche AG			7101069			N/A	0
	1	Receive Financial Statements and Statutory Reports
	2	Approve Allocation of Income and Dividends of EUR 3.34 per Ordinary Share and EUR 3.40 Per Preference Shares		Mgmt	For
	3	Approve Discharge of Management Board for Fiscal 2002/2003		Mgmt	For
	4	Approve Discharge of Supervisory Board for Fiscal 2002/2003		Mgmt	For
	5.1	Amend Articles Re: Designate Electronic Publications for Meeting Announcements and Invitation to Shareholder Meetings		Mgmt	For
	5.2	Amend Articles Re: Fixed and Performance-Based Remuneration of Supervisory Board		Mgmt	For
	6	Ratify Ernst & Young AG as Auditors		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
03/17/04 AGM	Elcoteq Network Corp.			5343841			3/5/04	0
	1.1	Receive Financial Statements
	1.2	Receive Auditors' Report
	1.3	Accept Financial Statements and Statutory Reports		Mgmt	For
	1.4	Approve Allocation of Income and Dividends of EUR 0.90 Per Share		Mgmt	For
	1.5	Approve Discharge of Board and President		Mgmt	For
	1.6	Approve Remuneration of Directors		Mgmt	For
	1.7	Fix Number of Directors at Seven		Mgmt	For
	1.8	Reelect Martti Ahtisaari, Eero Kasanen, Heikki Horstia, Antti Piippo, Henry Sjoeman, Juha Toivola, and Jorma Vanhanen as Directors		Mgmt	For
	1.9	Appoint KPMG Wideri as Auditors		Mgmt	For
	2	Approve Creation of EUR 2.4 Million Pool of Conditional Capital without Preemptive Rights		Mgmt	For
	3	Receive Report by Management and Board about Location of Company and Listing Status
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
05/21/04 MIX	ENEL SpA			7144569			5/14/04	0
		Ordinary Business
	1	Accept Financial Statements, Consolidated Accounts, and Statutory Reports		Mgmt	For
	2	Approve Allocation of Income		Mgmt	For
		Special Business
	1	Amend Articles To Reflect New Italian Company Law Regulations and New Regulations Re: Italian State's 'Special Powers'		Mgmt	For
	2	Approve Increase in Share Capital in the Order of EUR 38.53 Million Pursuant to Share Option Scheme in Favor of Managers		Mgmt	For
		Ordinary Business
	3a	Appoint Internal Statutory Auditors - Majority Shareholder Slate (Ministry of Economy and Finance)		Mgmt
	3b	Appoint Internal Statutory Auditors - Minority Shareholder Slate (Institutional Investors)		Mgmt
	4	Approve Remuneration of Primary Internal Statutory Auditors		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
01/22/04 AGM	Enterprise Inns PLC			310475		With	N/A	26,316
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Final Dividend of 11.4 Pence Per Share		Mgmt	For	For
	3	Elect David Harding as Director		Mgmt	For	For
	4	Reelect Michael Garner as Director		Mgmt	For	For
	5	Reelect Simon Townsend as Director		Mgmt	For	For
	6	Approve Ernst and Young LLP as Auditors and Authorize Board to Fix Their Remuneration		Mgmt	For	For
	7	Approve Remuneration Report		Mgmt	For	For
	8	Approve Sub-Division of Each Issued and Unissued Ordinary Share of Ten Pence Each into Two Ordinary Shares of Five Pence Each		Mgmt	For	For
	9	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 5,680,832		Mgmt	For	For
	10	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 852,124		Mgmt	For	For
	11	Authorize 51,093,410 Ordinary Shares for Share Repurchase Program		Mgmt	For	For
	12	Adopt New Articles of Association		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		26,316
			Total Shares Voted:		26,316
03/30/04 EGM	Enterprise Inns PLC			3387227		With	N/A	52,632
	1	Approve Acquisition of Outstanding Equity in The Unique Pub Company Limited; Procurement by the Company of Funding to Enable Unique Pub Holding Company Limited (UPH), a Subsidiary of Unique, to Redeem all Outstanding Deep Discount Bonds in UPH's Capital		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		52,632
			Total Shares Voted:		52,632
05/04/04 AGM	Erste Bank Der Oester Spark			5289837			N/A	0
	1	Receive Financial Statements and Statutory Reports
	2	Approve Allocation of Income		Mgmt	For
	3.a	Approve Discharge of Management Board		Mgmt	For
	3.b	Approve Discharge of Supervisory Board		Mgmt	For
	4	Approve Remuneration of Directors		Mgmt	For
	5	Elect Supervisory Board Members		Mgmt	For
	6	Ratify Auditors		Mgmt	For
	7	Approve Spin-Off Agreement of FINAG-Holding AG		Mgmt	For
	8	Approve EUR 43.9 Million Capitalization of Reserves		Mgmt	For
	9	Approve 4:1 Stock Split		Mgmt	For
	10	Approve Creation of EUR 16.7 Million Pool of Conditional Capital with Preemptive Rights		Mgmt	For
	11	Authorize Repurchase of Up to Ten Percent of Issued Share Capital for Trading Purposes		Mgmt	For
	12	Authorize Share Repurchase Program and Reissuance of Repurchased Shares		Mgmt	For
	13	Amend Articles		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
05/27/04 AGM	Evolution Group Plc			3022186		With	N/A	900,000
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Remuneration Report		Mgmt	For	For
	3	Approve Final Dividend of 0.25 Pence Per Ordinary Share		Mgmt	For	For
	4	Elect Nicholas Irens as Director		Mgmt	For	For
	5	Re-elect Richard Griffiths as Director		Mgmt	For	For
	6	Re-elect Graeme Dell as Director		Mgmt	For	For
	7	Re-appoint PricewaterhouseCoopers LLP as Auditors and Authorise Board to Fix Remuneration of Auditors		Mgmt	For	For
	8	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 1,041,714.96		Mgmt	For	For
	9	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 5,750 Pursuant to the Exercise of Options by the Company; and Otherwise up to an Aggregate Nominal Amount of GBP 123,923.66		Mgmt	For	For
	10	Authorise 24.7 Million Ordinary Shares for Market Purchase		Mgmt	For	For
	11	Adopt New Articles of Association		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		900,000
			Total Shares Voted:		900,000
09/26/03 AGM	Filtronic Plc (Formerly Filtronic Comtek PLC)			336299		With	N/A	225,000
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Final Dividend of 1.80 Pence Per Share		Mgmt	For	For
	3	Reelect Rhys Williams as Director		Mgmt	For	For
	4	Reelect Richard Blake as Director		Mgmt	For	For
	5	Reelect Graham Meek as Director		Mgmt	For	For
	6	Approve KPMG Audit Plc as Auditors and Authorize Board to Fix Their Remuneration		Mgmt	For	For
	7	Approve Remuneration Report		Mgmt	For	For
	8	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 2,476,814		Mgmt	For	For
	9	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 371,522		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		225,000
			Total Shares Voted:		225,000
06/09/04 AGM	Freenet.de AG			5823008			N/A	0
	1	Receive Financial Statements and Statutory Reports
	2	Approve Allocation of Income and Omission of Dividends		Mgmt	For
	3	Approve Discharge of Management Board		Mgmt	For
	4	Approve Discharge of Supervisory Board		Mgmt	For
	5	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 500 Million with Preemptive Rights; Approve Creation of EUR 4.5 Million Pool of Conditional Capital to Guarantee Conversion Rights		Mgmt	For
	6	Approve EUR 37.5 Million Capitalization of Reserves		Mgmt	For
	7	Approve Creation of EUR 26.5 Million Pool of Conditional Capital without Preemptive Rights		Mgmt	For
	8	Authorize Share Repurchase Program and Reissuance of Repurchased Shares		Mgmt	For
	9	Approve Affiliation Agreements with Subsidiaries (freenet Cityline GmbH and freenet Internet Beteiligungs GmbH)		Mgmt	For
	10	Adopt New Articles of Association		Mgmt	For
	11	Ratify PwC Deutsche Revision AG as Auditors		Mgmt	For
	12	Elect Klaus-Dieter Scheurle to the Supervisory Board		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
04/21/04 AGM	Hagemeyer NV			5209073			N/A	0
	1	Open Meeting
	2	Receive Report of Management Board
	3	Approve Financial Statements and Statutory Reports		Mgmt	For
	4.1	Approve Discharge of Management Board		Mgmt	For
	4.2	Approve Discharge of Supervisory Board		Mgmt	For
	5	Elect B. Bourigeaud BA and M. de Raad to Supervisory Board		Mgmt	For
	6	Elect R. de Becker to Management Board		Mgmt	For
	7	Ratify Deloitte Accountants as Auditors		Mgmt	For
	8	Authorize Repurchase of Up to Ten Percent of Issued Share Capital		Mgmt	For
	9.1	Grant Board Authority to Issue Ordinary Shares Up to 20 Percent of Issued Share Capital		Mgmt	For
	9.2	Grant Board Authority to Exclude Preemptive Rights from Issuance Under Item 9.1		Mgmt	For
	10	Discussion about Company's Corporate Governance Report
	11	Allow Questions
	12	Close Meeting
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
06/02/04 AGM	Hannover Ruckversicherung			4511809			5/27/04	0
	1	Receive Financial Statements and Statutory Reports
	2	Approve Allocation of Income and Dividends of EUR 0.95 per Share		Mgmt	For
	3	Approve Discharge of Management Board		Mgmt	For
	4	Approve Discharge of Supervisory Board		Mgmt	For
	5	Approve Creation of EUR 60.3 Million Pool of Conditional Capital without Preemptive Rights		Mgmt	For
	6	Amend Articles Re: Changes to the Remuneration of the Supervisory Board Members and Amendment to the Articles		Mgmt	For
	7	Authorize Repurchase of up to Ten Percent of Issued Share Capital		Mgmt	For
	8	Authorize Reissuance of Repurchased Shares		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
05/05/04 AGM	Heijmans			5075036			5/1/04	0
	1	Open Meeting
	2	Receive Announcements
	3	Receive Report of Management Board
	4.1	Approve Financial Statements and Statutory Reports		Mgmt	For
	4.2	Approve Allocation of Income		Mgmt	For
	4.3	Approve Discharge of Management Board		Mgmt	For
	4.4	Approve Discharge of Supervisory Board		Mgmt	For
	5	Receive Explanation of Company's Reserves and Dividend Policy
	6	Discussion about Company's Corporate Governance Report		Mgmt	For
	7	Approve Remuneration Policy for Management Board Members		Mgmt	For
	8.1	Receive Announcement of Resignation of Supervisory Board Members N. Douben, and J. Pennings
	8.2	Opportunity to Make Recommendation for Supervisory Board Member
	8.3	Reelect N. Douben to Supervisory Board		Mgmt	For
	8.4	Receive Announcement of Resignation in 2005 of Supervisory Board Member J. Brentjes
	9	Authorize Repurchase of Up to Ten Percent of Issued Share Capital		Mgmt	For
	10	Other Business (Non-Voting)
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
04/19/04 AGM	Henkel KGAA			5002465			N/A	0
	1	Receive Financial Statements and Statutory Reports
	2	Approve Allocation of Income and Dividends of EUR 1.14 per Common Share and EUR 1.20 per Preference Share		Mgmt	For
	3	Approve Discharge of Personally Liable Partners		Mgmt	For
	4	Approve Discharge of Supervisory Board		Mgmt	For
	5	Approve Discharge of Shareholders' Committee		Mgmt	For
	6	Ratify KPMG Deutsche Treuhandgesellschaft AG as Auditors		Mgmt	For
	7	Elect Paul Achleitner, Stefan Hamelmann, Ulrich Hartmann, Christoph Henkel, Juergen Manchot, Burkhard Schmidt, Konstantin von Unger, Karel Vuursteen, Hans-Dietrich Winkhaus, and Albrecht Woeste to Shareholders' Committee		Mgmt	For
	8	Authorize Repurchase of up to Ten Percent of Issued Share Capital; Authorize Board to Issue Repurchased Shares as New Shares without Preemptive Rights		Mgmt	For
	9	Adopt New Articles of Association due to Changes in German Disclosure Regulations and Company Stock Corporation Law			For
	10	Approve Affiliation Agreements with Subsidiaries (Henkel Dorus GmbH)			For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
09/29/03 AGM	HMV GROUP PLC (frmly HMV MEDIA GROUP PLC)			3157572		With	N/A	575,000
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Remuneration Report		Mgmt	For	For
	3	Approve Final Dividend of 3.4 Pence Per Share		Mgmt	For	For
	4	Reelect Eric Nicoli as Director		Mgmt	For	For
	5	Reelect Alan Giles as Director		Mgmt	For	For
	6	Reelect Roy Brown as Director		Mgmt	For	For
	7	Ratify Ernst and Young LLP as Auditors		Mgmt	For	For
	8	Authorize Board to Fix Remuneration of Auditors		Mgmt	For	For
	9	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 1,144,900.17		Mgmt	For	For
	10	Authorize EU Political Donations up to GBP 50,000		Mgmt	For	For
	11	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 202,050.08		Mgmt	For	For
	12	Authorize 20,205,008 Shares for Share Repurchase Program		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		575,000
			Total Shares Voted:		575,000
05/07/04 AGM	Hochtief AG			5108664			N/A	0
	1	Receive Financial Statements and Statutory Reports
	2	Approve Allocation of Income and Dividends of EUR 0.65 per Share		Mgmt	For
	3	Approve Discharge of Management Board		Mgmt	For
	4	Approve Discharge of Supervisory Board		Mgmt	For
	5	Ratify PwC Deutsche Revision AG as Auditors		Mgmt	For
	6	Authorize Reissuance of Repurchased Shares		Mgmt	For
	7	Authorize Share Repurchase Program and Reissuance of Repurchased Shares		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
06/04/04 AGM	Hypo Real Estate Holding AG			7681248			N/A	0
	1	Receive Financial Statements and Statutory Reports
	2	Approve Allocation of Income and Omission of Dividends		Mgmt	For
	3	Approve Discharge of Management Board		Mgmt	For
	4	Approve Discharge of Supervisory Board		Mgmt	For
	5	Approve Creation of EUR 201.1 Million Pool of Conditional Capital with Preemptive Rights		Mgmt	For
	6	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 450 Million with Preemptive Rights; Approve Creation of EUR 40.2 Million Pool of Conditional Capital to Guarantee Conversion Rights		Mgmt	For
	7	Amend Articles Re: Changes to the Remuneration of the Supervisory Board Members		Mgmt	For
	8	Approve Conversion of Preference Shares into Common Shares		Mgmt	For
	9	Special Resolution for Holders of Common Shares: Approve Conversion of Preference Shares into Common Shares		Mgmt	For
	10	Amend Articles Re: Supervisory Board		Mgmt	For
	11	Elect Ferdinand Graf von Ballestrem, Antoine Jeancourt-Galignani, Pieter Korteweg, Robert Mundheim, Klaus Pohle, and Kurt Viermetz to the Supervisory Board		Mgmt	For
	12	Ratify KPMG Deutsche Treuhand-Gesellschaft AG as Auditors		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
05/28/04 AGM	ILIAD			7759435			N/A	0
		Ordinary Business
	1	Approve Financial Statements and Statutory Reports		Mgmt	For
	2	Approve Allocation of Income and Dividends of EUR 0.15 per Share		Mgmt	For
	3	Accept Consolidated Financial Statements and Statutory Reports		Mgmt	For
	4	Approve Special Auditors' Report Regarding Related-Party Transactions		Mgmt	For
	5	Elect Jean-Louis Missika as Director		Mgmt	For
	6	Ratify Cooptation of Pierre Coll as Alternate Auditor		Mgmt	For
	7	Authorize Filing of Required Documents/Other Formalities		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
02/03/04 AGM	Imperial Tobacco Group Plc			454492		With	N/A	55,000
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Remuneration Report		Mgmt	For	For
	3	Approve Final Dividend of 30 Pence Per Share		Mgmt	For	For
	4	Reelect Sipko Huismans as Director		Mgmt	For	For
	5	Reelect Iain Napier as Director		Mgmt	For	For
	6	Elect David Cresswell as Director		Mgmt	For	For
	7	Elect Frank Rogerson as Director		Mgmt	For	For
	8	Elect Bruce Davidson as Director		Mgmt	For	For
	9	Elect David Thursfield as Director		Mgmt	For	For
	10	Approve PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Their Remuneration		Mgmt	For	For
	11	Amend Articles of Association Re: Maximum Number of Directors		Mgmt	For	For
	12.1	Authorize the Company to Make EU Political Donations up to GBP 100,000		Mgmt	For	For
	12.2	Authorize Imperial Tobacco Ltd. to Make EU Political Donations up to GBP 100,000		Mgmt	For	For
	12.3	Authorize Imperial Tobacco International Ltd. to Make EU Political Donations up to GBP 100,000		Mgmt	For	For
	12.4	Authorize Van Nelle Tabak Nederland B.V. to Make EU Political Donations up to GBP 100,000		Mgmt	For	For
	12.5	Authorize John Player and Sons Ltd. to Make EU Political Donations up to GBP 100,000		Mgmt	For	For
	12.6	Authorize Reemtsma Cigarettenfabriken GmbH to Make EU Political Donations up to GBP 100,000		Mgmt	For	For
	12.7	Authorize Compagnie Independante des Tabacs S.A. to Make EU Political Donations up to GBP 100,000		Mgmt	For	For
	13	Authorize the Board to Grant Options to Employees Resident in France Under the Imperial Tobacco Group International Sharesave Plan for a Further 38 Months		Mgmt	For	For
	14	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 24,300,000		Mgmt	For	For
	15	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 3,645,000		Mgmt	For	For
	16	Authorize 72,900,000 Shares for Share Repurchase Program		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		55,000
			Total Shares Voted:		55,000
08/11/03 EGM	INTER-ALLIANCE			283113		With	N/A	21,000,000
	1	Approve Increase in Authorized Capital to GBP 15,000,000		Mgmt	For	For
	2	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 10,518,951		Mgmt	For	For
	3	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights of 750,000,000 Ordinary Shares Pursuant to the Placing; and up to Aggregate Nominal Amount of GBP 905,685		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		21,000,000
			Total Shares Voted:		21,000,000
05/13/04 AGM	Interserve Plc (Formerly Tilbury Douglas plc)			152815		With	N/A	333,000
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Final Dividend of 9.3 Pence Per Ordinary Share		Mgmt	For	For
	3	Re-elect Stewart Hagerty as Director		Mgmt	For	For
	4	Elect Adrian Ringrose as Director		Mgmt	For	For
	5	Re-elect John Vyse as Director		Mgmt	For	For
	6	Elect Tim Jones as Director		Mgmt	For	For
	7	Elect Nicholas Keegan as Director		Mgmt	For	For
	8	Elect David Trapnell as Director		Mgmt	For	For
	9	Approve Remuneration Report		Mgmt	For	For
	10	Re-appoint Deloitte and Touche LLP as Auditors of the Company		Mgmt	For	For
	11	Authorise Board to Fix Remuneration of the Auditors		Mgmt	For	For
	12	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 3,624,367		Mgmt	For	For
	13	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 568,781 Pursuant to Rights Issue		Mgmt	For	For
	14	Authorise 11,375,633 Ordinary Shares for Market Purchase		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		333,000
			Total Shares Voted:		333,000
07/11/03 AGM	JJB Sports PLC			468523		With	N/A	250,000
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Remuneration Report		Mgmt	For	For
	3	Approve Final Dividend of 5 Pence Per Share		Mgmt	For	For
	4	Reelect Barry Dunn as Director		Mgmt	For	For
	5	Reelect David Greenwood as Director		Mgmt	For	For
	6	Reelect Tom Knight as Director		Mgmt	For	For
	7	Approve Deloitte and Touche as Auditors and Authorize Board to Fix Their Remuneration		Mgmt	For	For
	8	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 4,181,219		Mgmt	For	For
	9	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 587,592		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		250,000
			Total Shares Voted:		250,000
03/30/04 AGM	Kensington Group PLC			166333		With	N/A	143,000
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Final Dividend of 7 Pence Per Ordinary Share		Mgmt	For	For
	3	Re-elect Martin Finegold as Director as Director		Mgmt	For	For
	4	Re-elect Gareth Jones as Director		Mgmt	For	For
	5	Elect John Herring as Director		Mgmt	For	For
	6	Approve Deloitte And Touche LLP as Auditors and Authorise Board to Fix Their Remuneration		Mgmt	For	For
	7	Approve Remuneration Report		Mgmt	For	For
	8	Approve Kensington Group Performance Share Plan 2004		Mgmt	For	For
	9	Authorise 5,000,000 Shares for Market Repurchase		Mgmt	For	For
	10	Amend Articles of Association Re: Treasury Shares, Retirement by Rotation, and Requirement for the Calling of a Poll		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		143,000
			Total Shares Voted:		143,000
11/18/03 EGM	Matalan Plc			259426		With	N/A	360,000
	1	Approve Matalan Long-Term Incentive Plan		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		360,000
			Total Shares Voted:		360,000
05/20/04 AGM	MFI Furniture Group Plc			557681		With	N/A	825,000
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Final Dividend of 2 Pence Per Ordinary Share		Mgmt	For	For
	3	Re-elect Martin Clifford-King as Director		Mgmt	For	For
	4	Re-elect Tony De Nunzio as Director		Mgmt	For	For
	5	Re-elect Bob Wilson as Director		Mgmt	For	For
	6	Elect Shaun O'Callaghan as Director		Mgmt	For	For
	7	Approve Remuneration Report		Mgmt	For	For
	8	Re-appoint Deloitte and Touche LLP as Auditors and Authorise Board to Fix Remuneration of Auditors		Mgmt	For	For
	9	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 15,428,675		Mgmt	For	For
	10	Adopt New Articles of Association		Mgmt	For	For
	11	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 3,104,326		Mgmt	For	For
	12	Authorise 62,086,526 Ordinary Shares for Market Purchase		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		825,000
			Total Shares Voted:		825,000
05/19/04 AGM	Mobilcom AG			5685833			N/A	0
		Management Proposals
	1	Receive Financial Statements and Statutory Reports
	2	Approve Allocation of Income and Dividends of EUR 0.20 per Share, and a Special Dividend of EUR 0.20 Per Share		Mgmt	For
	3	Approve Discharge of Management Board		Mgmt	For
	4	Approve Discharge of Supervisory Board		Mgmt	For
	5	Ratify PwC Deutsche Revision AG as Auditors		Mgmt	For
	6	Elect Klaus Thiemann and Hans-Peter Kohlhammer to the Supervisory Board; Elect Thomas Ingelmann as Substitute to the Supervisory Board		Mgmt	For
	7a	Remove Carsten Meyer from the Supervisory Board		Mgmt	For
	7b	Elect Horst Dietz to the Supervisory Board		Mgmt	For
	8	Amend Articles Re: Changes to the Remuneration of the Supervisory Board Members and Amendment to the Articles		Mgmt	For
	9	Receive Special Auditors Report
	10	Authorize Share Repurchase Program and Reissuance of Repurchased Shares		Mgmt	For
	11	Adopt New Articles of Association		Mgmt	For
		Shareholder Proposals
	12	Ratify Special Auditor to Review MC Settlement Agreement		ShrHoldr	Against
	13	Authorize Claim of Compensation Against Management and Supervisory Board Members		ShrHoldr	Against
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
11/03/03 AGM	NDS Group PLC			2520001		With	9/25/03	150,000
	NNDS
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Remuneration Report		Mgmt	For	For
	3	Approve Ernst and Young LLC as Auditors and Authorize Board to Fix Their Remuneration		Mgmt	For	For
	4	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of USD 406,680		Mgmt	For	For
	5	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		150,000
			Total Shares Voted:		150,000
05/13/04 AGM	New Skies Satellites N.V.			4460462			N/A	0
	1	Open Meeting
	2	Receive Report of Management Board
	3.1	Approve Financial Statements and Statutory Reports		Mgmt	For
	3.2	Approve Discharge of Management Board		Mgmt	For
	3.3	Approve Discharge of Supervisory Board		Mgmt	For
	4	Approve Dividends of $0.04 per Ordinary Share		Mgmt	For
	5	Ratify Deloitte & Touche as Auditors		Mgmt	For
	6	Approve Decrease in Board Size; Elect Seven Supervisory Board Members		Mgmt	For
	7	Approve Remuneration of Supervisory Board		Mgmt	For
	8	Grant Board Authority to Issue Authorized Yet Unissued Shares Restricting/Excluding Preemptive Rights		Mgmt	For
	9.1	Authorize Repurchase of Up to Ten Percent of Issued Share Capital		Mgmt	For
	9.2	Approve Reduction in Share Capital via Cancellation of Repurchased Shares		Mgmt	For
	10	Amend Articles in Order to Streamline Transfer of Registered Shares		Mgmt	For
	11	Allow Questions
	12	Close Meeting
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
06/07/04 AGM	OMEGA PHARMA			5955279			N/A	0
	1	Receive Directors' and Auditors' Reports
	2	Accept Financial Statements		Mgmt	For
	3	Approve Allocation of Income and Dividends of EUR 0.18 per Share		Mgmt	For
	4	Receive Consolidated Financial Statements and Statutory Reports (Non-Voting)
	5	Approve Discharge of Directors and Auditors		Mgmt	For
	6	Reelect Lucas Laureys and Benoit Graulich as Independent Directors		Mgmt	For
	7	Elect Nercuur Consult NV (Represented by Jan Boone)as Director		Mgmt	For
	8	Transact Other Business
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
10/29/03 EGM	OPAP (GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA )			7107250			N/A	0
	1	Apporval of the Contract for 2003 with Labor Union of Opap		Mgmt	For
	2	Approval of Sponsorship Plan for 2003 and Preapproval for 2004		Mgmt	For
	3	Approval of Employee Compensation from March to July 2003		Mgmt	For
	4	Elect Directors; Amendment to Bylaws		Mgmt	For
	5	Approve Qualification of Board Members		Mgmt	For
	6	Approve Employment Contract of Managing Director		Mgmt	For
	7	Amend Articles Re: Management		Mgmt	For
	8	Other Business		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
12/23/03 EGM	OPAP (GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA )			7107250			N/A	0
	1	Change Location of Registered Office/Headquarters		Mgmt	For
	2	Approve Final Terms of 2003 Collective Labor Agreement Between Opap SA and Employee Union		Mgmt	For
	3	Transact Other Business
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
02/27/04 AGM	OPAP (GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA )			7107250			N/A	0
	1	Accept Financial Statements and Statutory Reports		Mgmt	For
	2	Approve Allocation of Income		Mgmt	For
	3	Approve Discharge of Management Board and Auditors		Mgmt	For
	4	Approve Two Ordinary, Two Deputy Chart Auditors and Determination of Their Remuneration		Mgmt	For
	5	Approve Remuneration of Directors		Mgmt	For
	6	Participation of Board Members in Committees and Approval of Remuneration for the Fiscal Year of 2004		Mgmt	For
	7	Ratify Appointment of Directors		Mgmt	For
	8	Approve Acquisitions of Gaming Companies and Companies Related to Technological Development in Cyprus		Mgmt	For
	9	Allow Questions		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
04/22/04 AGM	Persimmon plc			682538		With	N/A	142,000
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Final Dividend of 11.3 Pence Per Ordinary Share		Mgmt	For	For
	3	Re-elect John White as Director		Mgmt	For	For
	4	Re-elect Michael Farley as Director		Mgmt	For	For
	5	Re-elect David Bryant as Director		Mgmt	For	For
	6	Re-elect Sir Chips Keswick as Director		Mgmt	For	For
	7	Elect Neil Davidson as Director		Mgmt	For	For
	8	Reappoint KPMG Audit Plc as Auditors and Authorise Board to Fix Their Remuneration		Mgmt	For	For
	9	Approve Remuneration Report		Mgmt	For	For
	10	Authorise 28,386,136 Ordinary Shares for Market Purchase		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		142,000
			Total Shares Voted:		142,000
06/15/04 AGM	Pfleiderer AG			5240157			N/A	0
	1	Receive Financial Statements and Statutory Reports
	2	Approve Discharge of Management Board		Mgmt	For
	3	Approve Discharge of Supervisory Board		Mgmt	For
	4	Authorize Share Repurchase Program and Reissuance of Repurchased Shares		Mgmt	For
	5	Ratify KPMG Deutsche Truehand-Gesellschaft AG as Auditors		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
11/05/03 AGM	Photo-Me International plc			848125		With	N/A	1,000,928
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Remuneration Report		Mgmt	For	For
	3	Ratify Ernst and Young LLP as Auditors		Mgmt	For	For
	4	Authorize Board to Fix Remuneration of Auditors		Mgmt	For	For
	5	Reelect Serge Crasnianski as Director		Mgmt	For	For
	6	Reelect Dan David as Director		Mgmt	For	For
	7	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 383,790		Mgmt	For	For
	8	Amend Articles of Association Re: Share Repurchases and Disapplication of Preemption Rights		Mgmt	For	For
	9	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 90,760		Mgmt	For	For
	10	Authorize 18,152,093 Shares for Share Repurchase Program		Mgmt	For	For
	11	Authorize EU Political Donations up to GBP 25,000		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		1,000,928
			Total Shares Voted:		1,000,928
07/11/03 AGM	PHS GROUP			3056497		With	N/A	1,000,000
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Remuneration Report		Mgmt	For	For
	3	Approve Final Dividend of 0.38 Pence Per Share		Mgmt	For	For
	4	Elect John Skidmore as Director		Mgmt	For	For
	5	Approve PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Their Remuneration		Mgmt	For	For
	6	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 17,062,564		Mgmt	For	For
	7	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 2,585,237		Mgmt	For	For
	8	Authorize 51,704,739 Shares for Share Repurchase Program		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		1,000,000
			Total Shares Voted:		1,000,000
12/22/03 EGM	PUBLIC POWER CORP OF GREECE			7268298			N/A	0
	1	Elect 2 Directors to Represent Minority Shareholders		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
12/01/03 EGM	PUNCH TAVERNS			3155286		With	N/A	526,790
	1	Approve Acquisition of Entire Issued Share Capital of Pubmistress		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		526,790
			Total Shares Voted:		526,790
01/15/04 AGM	PUNCH TAVERNS			3155286		With	N/A	526,790
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Ernst & Young LLP as Auditors and Authorize Board to Fix Their Remuneration		Mgmt	For	For
	3	Approve Remuneration Report		Mgmt	For	For
	4	Approve Final Dividend of 4.4 Pence Per Share		Mgmt	For	For
	5	Authorize EU Political Donations up to Aggregate Nominal Amount of GBP 100,000		Mgmt	For	For
	6	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 39,219		Mgmt	For	For
	7	Elect Peter Cawdron as Director		Mgmt	For	For
	8	Reelect Michael Foster as Director		Mgmt	For	For
	9	Reelect Randl Shure as Director		Mgmt	For	For
	10	Approve Long-Term Incentive Plan		Mgmt	For	For
	11	Approve Deferred Share Bonus Bonus Plan		Mgmt	For	For
	12	Approve Share Incentive Plan		Mgmt	For	For
	13	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 5,942		Mgmt	For	For
	14	Authorize 24,832,402 Shares for Share Repurchase Program		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		526,790
			Total Shares Voted:		526,790
07/16/03 EGM	Red Electrica de Espana			5723777			N/A	0
	1	Amend Articles Re: Corporate Purpose, Share Capital, Shareholder Rights, General Meetings, Quorums, Board of Directors, Audit Committee, External Auditors, and Conflict Resolution		Mgmt	For
	2	Approve General Meeting Guidelines		Mgmt	For
	3	Fix Number of Directors		Mgmt	For
	4	Elect Directors		Mgmt	For
	5	Authorize Board to Ratify and Execute Approved Resolutions		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
05/06/04 AGM	Red Electrica de Espana			5723777			N/A	0
	1	Approve Financial Statements, Allocation of Income and Distribution of a Dividend of EUR 0.548 Per Share, and Discharge Directors		Mgmt	For
	2	Amend Articles 14, 15 and 17 Bis of Company Bylaws Re: Quorum, Shareholder Information and Attendance Rights, and Remote Voting		Mgmt	For
	3	Amend Articles 2, 10, 11, and 15 of General Meeting Guidelines Re: Company's Website, Voting Representation, and Proposal Deliberations		Mgmt	For
	4	Accept Report: Board of Directors' Guidelines		Mgmt	For
	5	Reelect KPMG Auditores S.L. as Auditors		Mgmt	For
	6	Authorize Repurchase of Shares		Mgmt	For
	7	Authorize Board to Issue Bonds		Mgmt	For
	8	Authorize Board to Ratify and Execute Approved Resolutions		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
10/20/03 EGM	Regal Petroleum plc			3177581		With	N/A	1,000,000
	1	Approve Increase in Auth. Capital to GBP 10,000,000; and Authorize Issuance of Equity with Preemptive Rights up to 40,086,667 Shares Pursuant to Placing and Acquisition, up to 1 Million Shares to Guenter Nolte, and Agg. Nominal Amount of GBP 1,642,555		Mgmt	For	For
	2	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to 35,086,667 Shares Pursuant to Placing, up to 1 Million Shares to Guenter Nolte, and up to Aggregate Nominal Amount of GBP 246,383		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		1,000,000
			Total Shares Voted:		1,000,000
03/23/04 EGM	Regal Petroleum plc			3177581		With	N/A	1,275,000
	1	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to 13,333,334 New Ordinary Shares Pursuant to Placing, 666,666 New Ordinary Shares Pursuant to Exercise of Options and up to Aggregate Nominal Amount of GBP 1,915,598		Mgmt	For	For
	2	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to 13,333,334 New Ordinary Shares Pursuant to Placing, 666,666 New Ordinary Shares Pursuant to Exercise of Options and up to Aggregate Nominal Amount of GBP 287,340		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		1,275,000
			Total Shares Voted:		1,275,000
06/10/04 AGM	Regal Petroleum plc			3177581		With	N/A	1,300,700
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Elect Lord Anthony St John of Bletso as Director		Mgmt	For	For
	3	Elect Nikolaos Loutsigkas as Director		Mgmt	For	For
	4	Re-elect Frank Timis as Director		Mgmt	For	For
	5	Re-elect Glenn Featherby as Director		Mgmt	For	For
	6	Re-appoint BDO Stoy Hayward LLP as Auditors and Authorise Board to Fix Remuneration of Auditors		Mgmt	For	For
	7	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 1,675,690		Mgmt	For	For
	8	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 577,180		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		1,300,700
			Total Shares Voted:		1,300,700
04/30/04 MIX	Renault			4712798			N/A	0
		Ordinary Business
	1	Accept Consolidated Financial Statements and Statutory Reports		Mgmt	For
	2	Approve Financial Statements and Discharge Directors		Mgmt	For
	3	Approve Allocation of Income and Net Dividends of EUR 1.40 per Share		Mgmt	For
	4	Approve Special Auditors' Report Regarding Related-Party Transactions		Mgmt	For
	5	Reelect Francois de Combret as Director		Mgmt	For
	6	Reelect Bernard Larrouturou as Director		Mgmt	For
	7	Elect Jean-Louis Girodolle as Director		Mgmt	For
	8	Elect Itaru Koeda as Director		Mgmt	For
	9	Elect Francois Pinault as Director		Mgmt	For
	10	Approve Discharge of Yoshikazu Hanawa		Mgmt	For
	11	Approve Discharge of Bruno Bezard		Mgmt	For
	12	Approve Discharge of Jeanne Seyvet		Mgmt	For
	13	Confirm Receipt of Special Auditors' Report Regarding Remuneration of Participating Stock		Mgmt	For
	14	Authorize Repurchase of Up to Ten Percent of Issued Share Capital		Mgmt	For
	15	Authorize Issuance of Bonds/Debentures in the Aggregate Amount of EUR 4 Billion		Mgmt	For
		Special Business
	16	Approve Reduction in Share Capital via Cancellation of Repurchased Shares		Mgmt	For
	17	Maintain Authority to Issue Equity and Equity-Linked Securities without Preemptive Rights Submitted to Shareholder Vote on April 29, 2003, to Increase Capital by Up to EUR 300 Million		Mgmt	For
	18	Amend Articles of Association to Increase the Number of Directors to Be Elected by Shareholders		Mgmt	For
	19	Amend Articles of Association to Reflect Financial Security Legislation Re: Shareholding Disclosure Requirement		Mgmt	For
		Ordinary Business
	20	Elect Charles de Croisset as Director		Mgmt	For
	21	Authorize Filing of Required Documents/Other Formalities		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
05/25/04 AGM	Rexam Plc (Formerly Bowater)			425045		With	N/A	250,000
		Preference Shareholders May Only Vote on Resolution 12
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Remuneration Report		Mgmt	For	For
	3	Approve Final Dividend of 9.58 Pence Per Ordinary Share		Mgmt	For	For
	4	Re-elect Stefan Angwald as Director		Mgmt	For	For
	5	Re-elect Carl Symon as Director		Mgmt	For	For
	6	Re-elect Michael Buzzacott as Director		Mgmt	For	For
	7	Re-elect Yves Dominioni as Director		Mgmt	For	For
	8	Re-elect David Tucker as Director		Mgmt	For	For
	9	Re-appoint PricewaterhouseCoopers LLP as Auditors and Authorise Board to Fix Remuneration of Auditors		Mgmt	For	For
	10	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 140,500,000		Mgmt	For	For
	11	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 17,600,000		Mgmt	For	For
	12	Authorise 54,800,000 Ordinary Shares for Market Purchase		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		250,000
			Total Shares Voted:		250,000
04/15/04 AGM	Royal KPN NV			5956078			N/A	0
	1	Open Meeting
	2	Receive Report of Management Board
	3.1	Approve Financial Statements and Statutory Reports		Mgmt	For
	3.2	Receive Explanation of Reserves and Dividend Policy
	3.3	Approve Dividends		Mgmt	For
	4.1	Approve Discharge of Management Board		Mgmt	For
	4.2	Approve Discharge of Supervisory Board		Mgmt	For
	5	Discussion about Company's Corporate Governance Report
	6	Approve Remuneration Policy		Mgmt	For
	7.1	Ratify PricewaterhouseCoopers Accountants N.V. as Auditors		Mgmt	For
	7.2	Authorize Board to Prepare Annual Report in English		Mgmt	For
	8.1	Opportunity for General Meeting to Make Recommendations for Appointment Member of Supervisory Board
	8.2	Reelect D. Eustace to Supervisory Board		Mgmt	For
	8.3	Receive Announcement of Vacancy on Supervisory Board
	8.4	Elect E. Blok as New Member to Management Board		Mgmt	For
	9.1	Authorize Repurchase of Up to Ten Percent of Issued Share Capital		Mgmt	For
	9.2	Grant Board Authority to Issue Ordinary Shares Up to 20 Percent of Issued Capital and All Unissued but Authorized Class B Preference Shares		Mgmt	For
	9.3	Grant Board Authority to Exclude Preemptive Rights from Issuance Under Item 9.2		Mgmt	For
	10	Approve Proposal to Reduce Capital Through Cancellation of Own Shares Up to 10 Percent of Issued Share Capital		Mgmt	For
	11	Other Business (Non-Voting)
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
06/23/04 MIX	Sanofi-Synthelabo (Formerly Sanofi)			5671735			N/A	0
		Ordinary Business
	1	Approve Financial Statements and Statutory Reports		Mgmt	For
	2	Accept Consolidated Financial Statements and Statutory Reports		Mgmt	For
	3	Approve Allocation of Income and Dividends of EUR 1.53 per Share		Mgmt	For
	4	Approve Special Auditors' Report Regarding Related-Party Transactions		Mgmt	For
	5	Authorize Repurchase of Up to Ten Percent of Issued Share Capital		Mgmt	For
	6	Authorize Issuance of Bonds/Debentures in the Aggregate Value of EUR 7 Billion		Mgmt	For
		Special Business
	7	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 750 Million; Set Global Limit for Capital Increase to Result from Issuance Requests in Items 7-10 at EUR 1.25 Billion		Mgmt	For
	8	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 750 Million		Mgmt	For
	9	Allow Board to Issue Shares in the Event of a Public Tender Offer or Share Exchange Offer		Mgmt	For
	10	Authorize Capitalization of Reserves of Up to EUR 500 Million for Bonus Issue or Increase in Par Value		Mgmt	For
	11	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan		Mgmt	For
	12	Approve Stock Option Plan Grants		Mgmt	For
	13	Approve Reduction in Share Capital via Cancellation of Repurchased Shares		Mgmt	For
	14	Authorize Capital Increase of Up to EUR 1.429 Billion for Aventis Exchange Offer		Mgmt	For
	15	Change Company Name to Sanofi-Aventis		Mgmt	For
	16	Amend Articles of Association to Reduce Term of Board Members from Five to Four Years		Mgmt	For
	17	Amend Articles to Reflect 2003 Legal Changes Re: Powers of the Chairman		Mgmt	For
	18	Reelect Jean-Francois Dehecq as Director (Representing Sanofi-Synthelabo)		Mgmt	For
	19	Reelect Rene Barbier de la Serre as Director (Representing Sanofi-Synthelabo)		Mgmt	For
	20	Reelect Robert Castaigne as Director (Representing Sanofi-Synthelabo)		Mgmt	For
	21	Reelect Thierry Desmarest as Director (Representing Sanofi-Synthelabo)		Mgmt	For
	22	Reelect Lindsay Owen-Jones as Director (Representing Sanofi-Synthelabo)		Mgmt	For
	23	Reelect Bruno Weymuller as Director (Representing Sanofi-Synthelabo)		Mgmt	For
	24	Confirm Appointment of Lord Douro as Director (Representing Sanofi-Synthelabo)		Mgmt	For
	25	Confirm Appointment of Gerard Van Kemmel as Director (Representing Sanofi-Synthelabo)		Mgmt	For
	26	Elect Christian Mulliez as Director (Representing Sanofi-Synthelabo)		Mgmt	For
	27	Elect Jean-Marc Bruel as Director (Representing Aventis)		Mgmt	For
	28	Elect Jurgen Dormann as Director (Representing Aventis)		Mgmt	For
	29	Elect Jean-Rene Fourtou as Director (Representing Aventis)		Mgmt	For
	30	Elect Serge Kampf as Director (Representing Aventis)		Mgmt	For
	31	Elect Igor Landau as Director (Representing Aventis)		Mgmt	For
	32	Elect Hubert Markl as Director (Representing Aventis)		Mgmt	For
	33	Elect Klaus Pohle as Director (Representing Aventis)		Mgmt	For
	34	Elect Hermann Scholl as Director (Representing Aventis)		Mgmt	For
	35	Confirm End of Term of Permanent Representative of Elf Aquitaine, L'Oreal, Pierre Castres Saint-Martin, Pierre-Gilles de Gennes, and Herve Guerin as Directors		Mgmt	For
	36	Approve Remuneration of Directors in the Aggregate Amount of Up to EUR 1 Million		Mgmt	For
	37	Authorize Filing of Required Documents/Other Formalities		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
05/03/04 AGM	Scania Ab			5038943			4/23/04	0
	1	Open Meeting
	2	Elect Chairman of Meeting		Mgmt	For
	3	Prepare and Approve List of Shareholders		Mgmt	For
	4	Approve Agenda of Meeting		Mgmt	For
	5	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting		Mgmt	For
	6	Acknowledge Proper Convening of Meeting		Mgmt	For
	7	Receive Financial Statements and Statutory Reports
	8	Receive Board and Committee Reports
	9	Receive President's Report
	10	Accept Financial Statements and Statutory Reports		Mgmt	For
	11	Approve Allocation of Income and Dividends of SEK 6 Per Share		Mgmt	For
	12	Approve Discharge of Board and President		Mgmt	For
	13	Determine Number of Members (9) and Deputy Members (0) of Board		Mgmt	For
	14	Approve Remuneration of Directors in the Aggregate Amount of SEK 3.5 Million; Approve Remuneration of SEK 300,000 for Committee Work		Mgmt	For
	15	Approve Remuneration of Auditors		Mgmt	For
	16	Reelect Peggy Bruzelius, Andreas Deumeland, Bernd Pischetsrieder, Lothar Sander, Rolf Stomberg, Marcus Wallenberg, and Leif Oestling as Directors; Elect Vito Baumgartner and Sune Carlsson as New Directors		Mgmt	For
	17	Receive Information about Auditors
		Shareholder Proposals
	18.1	Shareholder Proposal: Authorize General Meeting to Elect Members of Nominating Committee		ShrHoldr	Against
		Ordinary Business
	18.2	Authorize Chairman of Board to Appoint Four Representatives of Company's Largest Shareholders to Serve on Nominating Committee		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
05/06/04 AGM	Smith & Nephew PLC			922320		With	N/A	250,000
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Final Dividend of 3.1 Pence Per Share		Mgmt	For	For
	3	Re-elect Warren Knowlton as Director		Mgmt	For	For
	4	Re-elect Christopher O'Donnell as Director		Mgmt	For	For
	5	Re-elect Richard De Schutter as Director		Mgmt	For	For
	6	Re-elect Rolf Stomberg as Director		Mgmt	For	For
	7	Re-appoint Ernst and Young LLP as Auditors and Authorise Board to Fix Remuneration of Auditors		Mgmt	For	For
	8	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 33,321,078		Mgmt	For	For
	9	Approve Remuneration Report		Mgmt	For	For
	10	Approve the Smith and Nephew 2004 Performance Share Plan		Mgmt	For	For
	11	Approve the Smith and Nephew 2004 Executive Share Option Plan		Mgmt	For	For
	12	Approve the Smith and Nephew 2004 Co-investment Plan		Mgmt	For	For
	13	Authorise the Directors to Establish Overseas Share Schemes		Mgmt	For	For
	14	Authorise the Directors to Establish the New Discretionary Trust		Mgmt	For	For
	15	Amend the Smith and Nephew 2001 UK Approved Share Option Plan		Mgmt	For	For
	16	Amend the Smith and Nephew 2001 UK Unapproved Share Option Plan		Mgmt	For	For
	17	Approve Reclassification of the One Issued 'B' Ordinary Share of 12 2/9 Pence as an Ordinary Share Having the Same Rights and Subject to the Same Restrictions as Existing Ordinary Shares		Mgmt	For	For
	18	Authorise 93,486,408 Shares for Market Purchase		Mgmt	For	For
	19	Adopt New Articles of Association		Mgmt	For	For
	20	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 5,713,057		Mgmt	For	For
	21	Approve Increase in Remuneration of Non-Executive Directors to GBP 900,000 Per Year		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		250,000
			Total Shares Voted:		250,000
03/24/04 AGM	Song Network Holdings AB			7449145			3/12/04	0
	1	Open Meeting
	2	Elect Chairman of Meeting		Mgmt	For
	3	Prepare and Approve List of Shareholders		Mgmt	For
	4	Approve Agenda of Meeting		Mgmt	For
	5	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting		Mgmt	For
	6	Acknowledge Proper Convening of Meeting		Mgmt	For
	7	Receive Financial Statements and Statutory Reports
	8	Receive Board and Committee Reports
	9	Receive President's Report
	10.1	Accept Financial Statements and Statutory Reports		Mgmt	For
	10.2	Approve Net Loss		Mgmt	For
	10.3	Approve Discharge of Board and President		Mgmt	For
	11	Approve Remuneration of Directors; Approve Remuneration of Auditors		Mgmt	For
	12	Elect Directors; Ratify Deloitte & Touche (Peter Gustafsson) as Auditors		Mgmt	For
	13	Approve Creation of SEK 14.6 Million Pool of Conditional Capital without Preemptive Rights		Mgmt	For
		Shareholder Proposals
	14.1	Shareholder Proposal: Authorize General Meeting to Elect Members of Nominating Committee		ShrHoldr
	14.2	Shareholder Proposal: Authorize Board to Establish a Remuneration Committee		ShrHoldr
	14.3	Shareholder Proposal: Authorize Board to Establish an Audit Committee		ShrHoldr
		Ordinary Business
	15	Close Meeting
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
04/28/04 AGM	Storebrand ASA (formerly Uni Storebrand)			4852832			N/A	0
	1	Open Meeting
	2	Approve Notice of Meeting and Agenda		Mgmt	For
	3	Prepare and Approve List of Shareholders		Mgmt	For
	4	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting		Mgmt	For
	5	Receive Management Report
	6	Approve Financial Statements, Allocation of Income and Dividends of NOK 0.80 Per Share		Mgmt	For
	7	Receive Report about Corporate Governance
	8	Approve Creation of NOK 3 Million Pool of Conditional Capital for Employee Stock Purchase Plan		Mgmt	For
	9	Authorize Repurchase of Up to Ten Percent of Issued Share Capital		Mgmt	For
	10	Determine Number of Members (18) and Deputy Members (8) of Committee of Representatives; Elect Members and Deputy Members of Committee of Representatives		Mgmt	For
	11	Reelect Finn Jebsen, Stein Hagen, and Rune Selmar as Members of Election Committee		Mgmt	For
	12	Reelect Sverre Bjoernstad, Harald Moen, and Carl Graff-Wang as Members of Control Committee; Elect Hanne Harlem as New Member of Control Committee; Reelect Jon Ansteinsson as Deputy Member of Control Committee		Mgmt	For
	13	Approve Remuneration of Members of Committee of Representatives, Control Committee, and Election Committee		Mgmt	For
	14	Ratify Deloitte as Auditors		Mgmt	For
	15	Amend Articles Re: Remove Voting Ceiling; Editorial Changes		Mgmt	For
	16	Authorize Board to Fix Remuneration of Auditors		Mgmt	For
	17	Close Meeting
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
09/24/03 EGM	Taylor Woodrow PLC			878230		With	N/A	263,000
	1	Approve Acquisition of Wilson Connolly Holdings Plc; Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 10,000,000 Pursuant to the Offer and in Addition up to GBP 48,487,092		Mgmt	For	For
	2	Approve Increase in Authorized Capital to GBP 205,000,000 by the Creation of 40,000,000 Preference Shares and Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 10,000,000		Mgmt	For	For
	3	Amend Articles of Association Re: Dividend Payment and Capital Structure		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		263,000
			Total Shares Voted:		263,000
04/20/04 AGM	Taylor Woodrow PLC			878230		With	N/A	400,000
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Final Dividend of 6.5 Pence Per Share		Mgmt	For	For
	3	Approve Remuneration Report		Mgmt	For	For
	4	Elect Norman Askew as Director		Mgmt	For	For
	5	Elect Michael Davis as Director		Mgmt	For	For
	6	Elect Graeme McCallum as Director		Mgmt	For	For
	7	Elect Vernon Sankey as Director		Mgmt	For	For
	8	Re-elect Lady Robin Innes Ker as Director		Mgmt	For	For
	9	Re-elect Denis Mac Daid as Director		Mgmt	For	For
	10	Reappoint Deloitte and Touche LLP Auditors and Authorise Board to Fix Remuneration of Auditors		Mgmt	For	For
	11	Approve Taylor Woodrow 2004 Savings-Related Share Option Plan		Mgmt	For	For
	12	Approve Taylor Woodrow 2004 Share Incentive Plan		Mgmt	For	For
	13	Approve Taylor Woodrow 2004 Performance Share Plan		Mgmt	For	For
	14	Approve Taylor Woodrow 2004 Deferred Bonus Plan		Mgmt	For	For
	15	Approve Taylor Woodrow 2004 Employee Benefit Trust		Mgmt	For	For
	16	Approve Increase in Remuneration of Non-Executive Directors from GBP 300,000 to GBP 600,000		Mgmt	For	For
	17	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 48,783,941		Mgmt	For	For
	18	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 7,310,802		Mgmt	For	For
	19	Authorise 58,486,423 Shares for Market Purchase		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		400,000
			Total Shares Voted:		400,000
07/11/03 EGM	Technip-Coflexip (Formerly Technip, S.A.)			4874160			6/26/03	0
		Special Business
	1	Approve Merger by Absorption of Coflexip and Issuance of 330,332 Technip-Coflexip Shares		Mgmt	For
	2	Approve Accounting Treatment of Absorption		Mgmt	For
	3	Approve Terms of Conversion of Coflexip Stock Options		Mgmt	For
	4	Approve Dissolution of Coflexip without Liquidation		Mgmt	For
	5	Amend Articles to Reflect Changes in Capital		Mgmt	For
	6	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan		Mgmt	For
	7	Approve Capital Increase Reserved for Employees Participating in International Stock Purchase Plan		Mgmt	For
	8	Authorize Filing of Required Documents/Other Formalities		Mgmt	For
		Ordinary Business
	9	Elect Olivier Appert as Director		Mgmt	For
	10	Authorize Filing of Required Documents/Other Formalities		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
06/03/04 AGM	TELEKOM AUSTRIA(TA			4635088			N/A	0
	1	Receive Financial Statements and Statutory Reports
	2	Approve Allocation of Income		Mgmt	For
	3	Approve Discharge of Management and Supervisory Boards		Mgmt	For
	4	Approve Remuneration of Directors		Mgmt	For
	5	Ratify Auditors		Mgmt	For
	6	Amend Articles Re: Management Board Structure		Mgmt	For
	7	Approve Creation of EUR 109.1 Million Pool of Conditional Capital without Preemptive Rights		Mgmt	For
	8	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached without Preemptive Rights; Approve Creation of EUR 109.1 Million Pool of Conditional Capital to Guarantee Conversion Rights		Mgmt	For
	9	Receive Report Regarding Share Repurchse Scheme
	10	Authorize Share Repurchase Program and Reissuance of Repurchased Shares		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
06/18/04 AGM	Tesco Plc			884709		With	N/A	278,221
	1	Accept Financial Statements and Statutory Reports		Mgmt	For	For
	2	Approve Remuneration Report		Mgmt	For	For
	3	Approve Final Dividend of 4.77 Pence Per Ordinary Share		Mgmt	For	For
	4	Amend Articles of Association Re: Director's Retirement Age		Mgmt	For	For
	5	Re-elect Charles Allen as Director		Mgmt	For	For
	6	Re-elect Philip Clarke as Director		Mgmt	For	For
	7	Re-elect Harald Einsmann as Director		Mgmt	For	For
	8	Re-elect Veronique Morali as Director		Mgmt	For	For
	9	Re-elect Graham Pimlott as Director		Mgmt	For	For
	10	Elect Richard Brasher as Director		Mgmt	For	For
	11	Elect Ken Hydon as Director		Mgmt	For	For
	12	Elect Mervyn Davies as Director		Mgmt	For	For
	13	Elect David Reid as Director		Mgmt	For	For
	14	Re-appoint PricewaterhouseCoopers LLP as Auditors and Authorise Board to Fix Remuneration of Auditors		Mgmt	For	For
	15	Approve Increase in Authorised Share Capital from GBP 481,600,000 to GBP 530,000,000		Mgmt	For	For
	16	Approve Scrip Dividend		Mgmt	For	For
	17	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 128.07 Million		Mgmt	For	For
	18	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 19.21 Million		Mgmt	For	For
	19	Authorise 768.44 Million Ordinary Shares for Market Purchase		Mgmt	For	For
	20	Authorise Tesco Stores CR a.s. to Make EU Political Donations up to GBP 25,000 and Incur EU Political Expenditure up to GBP 25,000		Mgmt	For	For
	21	Authorise Tesco Stores SR a.s. to Make EU Political Donations up to GBP 25,000 and Incur EU Political Expenditure up to GBP 25,000		Mgmt	For	For
	22	Authorise Tesco Global Rt to Make EU Political Donations up to GBP 25,000 and Incur EU Political Expenditure up to GBP 25,000		Mgmt	For	For
	23	Authorise Tesco Polska Sp z.o.o. to Make EU Political Donations up to GBP 25,000 and Incur EU Political Expenditure up to GBP 25,000		Mgmt	For	For
	24	Approve the Tesco PLC Performance Share Plan 2004		Mgmt	For	For
	25	Approve the Tesco PLC 2004 Discretionary Share Option Plan		Mgmt	For	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		278,221
			Total Shares Voted:		278,221
05/07/04 MIX	THOMSON (formerly Thomson Multimedia)			5988930			N/A	0
		Ordinary Business
	1	Approve Financial Statements and Statutory Reports		Mgmt	For
	2	Accept Consolidated Financial Statements and Statutory Reports		Mgmt	For
	3	Approve Allocation of Income and Net Dividends of EUR 0.26 per Share		Mgmt	For
	4	Approve Special Auditors' Report Regarding Related-Party Transactions		Mgmt	For
	5	Ratify Appointment of Paul Murray as Director		Mgmt	For
	6	Ratify Appointment of Henry P. Vigil as Director		Mgmt	For
	7	Ratify Appointment of Eric Bourdais de Charbonniere as Director		Mgmt	For
	8	Reelect Thierry Breton as Director for a Term Lasting Four Years, Subject to Approval of Item 25		Mgmt	For
	9	Reelect Frank Dangeard as Director for a Term Lasting Four Years, Subject to Approval of Item 25		Mgmt	For
	10	Reelect Eddy Hartenstein as Director for a Term Lasting Four Years, Subject to Approval of Item 25		Mgmt	For
	11	Reelect Igor Landau as Director for a Term Lasting Four Years, Subject to Approval of Item 25		Mgmt	For
	12	Reelect Pierre Lescure as Director for a Term Lasting Four Years, Subject to Approval of Item 25		Mgmt	For
	13	Reelect Henry P. Vigil as Director for a Term Lasting Four Years, Subject to Approval of Item 25		Mgmt	For
	14	Reelect Didier Lombard as Director for a Term Lasting Four Years, Subject to Approval of Item 25		Mgmt	For
	15	Ratify Mazars & Guerard as Auditors		Mgmt	For
	16	Ratify Patrick de Cambourg as Alternate Auditors		Mgmt	For
	17	Approve Remuneration of Directors in the Aggregate Amount of EUR 450,000		Mgmt	For
	18	Authorize Repurchase of Up to Ten Percent of Issued Share Capital		Mgmt	For
	19	Authorize Filing of Required Documents/Other Formalities		Mgmt	For
		Special Business
	20	Approve Reduction in Share Capital via Cancellation of Repurchased Shares		Mgmt	For
	21	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 250 Million		Mgmt	For
	22	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 250 Million		Mgmt	For
	23	Confirm Share Issuance in the Amount of EUR 15 Million in Favor of Carlton Communications PLC		Mgmt	For
	24	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan		Mgmt	For
	25	Amend Articles of Association to Reflect 2003 Legal Changes Re: Shareholding Disclosure, Role of Chairman, and Access to Information; Reduction in Directors' Terms from Five to Four Years; and References of Government Representatives on the Board		Mgmt	For
	26	Authorize Filing of Required Documents/Other Formalities		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
05/12/04 AGM	Unilever N.V.			5640898			5/5/04	0
	1	Receive Financial Statements and Report by Remuneration Committe
	2	Approve Financial Statements and Allocation of Income and Dividends		Mgmt	For
	3	Approve Discharge of Board of Directors		Mgmt	For
	4	Discussion of Company's Corporate Governance Report; Amend Articles Re: Adopt One-Tier Board Structure; Enable Shareholders to Override Binding Nominations for Appointment of Directors; Other Changes		Mgmt	For
	5.1	Elect A. Burgmans as Executive Director		Mgmt	For
	5.2	Elect A. Butler as Executive Director		Mgmt	For
	5.3	Elect P. Cescau as Executive Director		Mgmt	For
	5.4	Elect K. Dadiseth as Executive Director		Mgmt	For
	5.5	Elect NWA Fitzgerald KBE as Executive Director		Mgmt	For
	5.6	Elect A. van Heemstra as Executive Director		Mgmt	For
	5.7	Elect R. Markham as Executive Director		Mgmt	For
	5.8	Elect C. van der Graaf as New Executive Director		Mgmt	For
	6.1	Elect Rt Hon The Lord of Brittan of Spennithorne QC DL as Non-Executive Director		Mgmt	For
	6.2	Elect Baroness Chalker of Wallasey as Non-Executive Director		Mgmt	For
	6.3	Elect B. Collomb as Non-Executive Director		Mgmt	For
	6.4	Elect W. Dik as Non-Executive Director		Mgmt	For
	6.5	Elect O. Fanjul as Non-Executive Director		Mgmt	For
	6.6	Elect C. Gonzalez as Non-Executive Director		Mgmt	For
	6.7	Elect H. Kopper as Non-Executive Director		Mgmt	For
	6.8	Elect Lord Simon of Highbury CBE as Non-Executive Director		Mgmt	For
	6.9	Elect van der Veer as Non-Executive Director		Mgmt	For
	7	Approve Remuneration of Non-Executive Directors in an Aggregate Amount of EUR 800,000		Mgmt	For
	8	Ratify PricewaterhouseCoopers as Auditors		Mgmt	For
	9	Grant Board Authority to Issue All Authorized Yet Unissued Shares Restricting/Excluding Preemptive Rights		Mgmt	For
	10	Authorize Repurchase of Up to Ten Percent of Issued Share Capital		Mgmt	For
	11	Authorize Board to Set Record Date for a Period of Five Years		Mgmt	For
	12	Allow Questions
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
04/16/04 AGM	Volvo Ab			4937739			4/6/04	0
	1	Open Meeting
	2	Elect Chairman of Meeting		Mgmt	For
	3	Prepare and Approve List of Shareholders		Mgmt	For
	4	Approve Agenda of Meeting		Mgmt	For
	5	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting		Mgmt	For
	6	Acknowledge Proper Convening of Meeting		Mgmt	For
	7	Receive Board and Committee Reports
	8	Receive Financial Statements and Statutory Reports
	9	Accept Financial Statements and Statutory Reports		Mgmt	For
	10	Approve Allocation of Income and Dividends of SEK 8 Per Share; Approve Distribution of an Aggregate of 27.1 Million Shares in Ainax AB		Mgmt	For
	11	Approve Discharge of Board and President		Mgmt	For
	12	Determine Number of Members (9) and Deputy Members (0) of Board		Mgmt	For
	13	Approve Remuneration of Directors in the Aggregate Amount of SEK 4.8 Million		Mgmt	For
	14	Reelect Per-Olof Eriksson, Patrick Faure, Haruko Fukuda, Tom Hedelius, Leif Johansson, Finn Johnsson, Neelie Kroes, Louis Schweitzer, and Ken Whipple as Directors		Mgmt	For
	15.1	Authorize Chairman of Board to Appoint Members of Nominating Committee		Mgmt	For
		Shareholder Proposals
	15.2	Shareholder Proposal: Authorize General Meeting to Elect Members of Nominating Committee		ShrHoldr	Against
		Ordinary Business
	16	Authorize Repurchase of Up to Ten Percent of Issued Share Capital; Authorize Reissuance of Repurchased Capital		Mgmt	For
	17	Approve Reissuance of 1.2 Million Repurchased Class B Shares to Guarantee Conversion Rights of 2002 Stock Option Plan		Mgmt	For
	18.1	Approve Incentive Plan for Key Employees		Mgmt	For
	18.2	Approve Reissuance of 110,000 Repurchased Class B Shares for Incentive Plan (Item 18.1)		Mgmt	For
		Shareholder Proposals
	19	Shareholder Proposal: Allow Voluntary Conversion of Class A Shares into Class B Shares		ShrHoldr	Against
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
12/03/03 EGM	Wessanen (Formerly Bolswessanen)			7271166			N/A	0
	1	Open Meeting
	2	Receive Information about Corporate Strategy
	3.1	Elect Niels Onkenhout to Management Board		Mgmt	For
	3.2	Elect A.E. Van Der Pauw to Management Board		Mgmt	Against
	4	Receive Information about Current State of Affairs
	5	Allow Questions; Close Meeting
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
03/31/04 AGM	Wessanen (Formerly Bolswessanen)			7271166			N/A	0
	1	Open Meeting
	2	Receive Report of Management Board
	3.1	Discussion about 2003 Preliminary Annual Results
	3.2	Approve Reserves and Dividend Policy		Mgmt	For
	3.3	Approve Dividends of EUR 0.58 Per Ordinary Share		Mgmt	For
	3.4	Approve Proposal to Extend Period for Completing Financial Statements		Mgmt	For
	4	Discussion about Company's Corporate Governance Report
	5	Elect A. Covington to Management Board		Mgmt	For
	6	Approve Remuneration Policy for Management Board Members		Mgmt	For
	7	Approve Remuneration of Supervisory Board in the Amount of EUR 30,000 for Chairman and EUR 20,000 for Other Supervisory Board Members; Approve Payment of EUR 3,000 (Chairman) or EUR 2,000 (Other Supervisory Board Members) per Committee Meeting		Mgmt	For
	8	Amend Articles Re: Abolish Option to Issue Protective Preference Shares; Abolish Restrictions on Transfer of Ordinary Shares; Abolish Combined Meeting; Increase Influence Exerted by Shareholders on Composition of Executive and Supervisory Boards		Mgmt	For
	9	Grant Board Authority to Issue Shares Restricting/Excluding Preemptive Rights Up to 20 Percent of Issued Share Capital		Mgmt	For
	10	Authorize Repurchase of Up to Ten Percent of Issued Share Capital		Mgmt	For
	11	Other Business (Non-Voting)
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0
05/11/04 AGM	Wienerberger AG			5699373			N/A	0
	1	Receive Financial Statements and Statutory Reports
	2	Approve Allocation of Income		Mgmt	For
	3	Approve Discharge of Management and Supervisory Boards		Mgmt	For
	4	Ratify Auditors		Mgmt	For
	5	Elect Supervisory Board Members		Mgmt	For
	6	Amend Articles Re; Takeover Provisions		Mgmt	For
	7	Authorize Share Repurchase Program and Reissuance of Repurchased Shares		Mgmt	For
	8	Approve Stock Option Plan for Key Employees; Approve Creation of EUR 1 Million Pool of Conditional Capital to Guarantee Conversion Rights		Mgmt	For
	9	Approve Creation of EUR 31.6 Million Pool of Conditional Capital without Preemptive Rights		Mgmt	For
			Fund Name		Shares
			953 IEONPE - Ivy European Opportunuities Fund		0
			Total Shares Voted:		0

IVY GLOBAL NATURAL RESOURCES FUND

Proxy Voting Record

Issuer	Symbol	Cusip	Meeting Date	Voting Matter	Proposed by Mgt	Proposed by Shldr	With or Against Mgt	Voted	How Voted
Aber Diamond Corporation	ABZ	2893105	22-Jun-04	Ordinary business	Y		W		W
Agricore United	AU	910535608	6-Feb-04	Ordinary business				N
Alcan Inc	AL	13716105	22-Apr-04	Ordinary business				N
Alcoa	AA	13817101	30-Apr-04	Ordinary business	Y		W		W
				Incentive plan	Y		W		W
				Shareholder proposal		Y	W		A
				Shareholder proposal		Y	W		A
Anglo-American Platinum	AMS		30-Mar-04	Long-term incentive plan				N
				Other business				N
Anglogold Ashanti	AU	35128206	29-Jun-04	Share issue	Y		W		W
Arch Coal	ACI	39380100	22-Apr-04	Ordinary business	Y		W		W
Atlas Energy	AED.CD	49300106	10-May-04	Ordinary business	Y		W		W
				Stock option plan	Y		W		W
ATP Oil and Gas Corp	ATPG	00208j108	1-Jun-04	Ordinary business				N
Baker Hughes Ltd.	BHI	57224107	28-Apr-04	Ordinary business	Y		W		W
				Shareholder proposal		Y	W		A
BHP Billiton	BHP	88606108	13-Nov-03	Ordinary business				N
				Compensation				N
				Share issue				N
				Share repurchase plan				N
BJ Services Company	BJS.US	55482103	22-Jan-04	Ordinary business	Y		W		W
				Incentive plan	Y		W		W
				Shareholder proposal		Y	W		A
Blackrock Ventures	BVI	91917104	11-May-04	Ordinary business				N
Calfrac Well Service	CFW	129584108	21-Jun-04	Ordinary business	Y		W		W
				Private placements	Y		W		W
				Stock option plan	Y		W		W
Cameco	CCO	13321l108	5-May-04	Ordinary business	Y		W		W
Canadian Natural Resources Ltd	CNQ	136385101	6-May-04	Ordinary business				N
				Stock option plan				N
				Stock split				N
Cemex, S.A. De C.V.	CX.US	151290889	29-Apr-04	Ordinary business	Y		W		W
				Increase capital stock	Y		W		W
				Compensation	Y		W		W
Central Asia Gold	CGX		14-Jun-04	Ordinary business	Y		W		W
				Stock option plan	Y		W		W
CHC Helicopter	FLY.A	12541c203	28-Oct-03	Ordinary business				N
Clear Energy	CEN	184549103	2-Jun-04	Ordinary business				N
				Stock option plan				N
Companhia Vale Do Rio Doce	RIO	204412209	28-Apr-04	Ordinary business	Y		W		W
				Compensation	Y		W		W
				Increase capital stock	Y		W		W
Compton Petroleum	CMT	204940100	17-Jun-04	Ordinary business	Y		W		W
				Stock option plan	Y		W		W
Defiance Mining	DM	244699104	7-Jun-04	Ordinary business	Y		W		W
				Stock option plan	Y		W		W
				Private placements	Y		W		W
Devon Energy Corp	DVN	25179m103	8-Jun-04	Ordinary business	Y		W		W
				Shareholder proposal		Y	W		A
Domtar Inc	DTC	257561100	29-Apr-04	Ordinary business				N
Fairborne Energy Ltd	FEL	303626105	2-Jun-04	Ordinary business	Y		W		W
				Stock option plan	Y		W		W
Falconbridge Ltd	FL	305915100	16-Apr-04	Ordinary business				N
First Quantum Minerals Ltd	FM	335934105	11-May-04	Ordinary business	Y		W		W
				Stock option plan	Y		W		W
Gold Fields Limited	GFI		18-Nov-03	Ordinary business				N
				Share issue				N
Gold Fields Limited	GFI		8-Mar-04	Ordinary business	Y		W		W
Gold Fields Ltd. Spons. ADR	GFI	38059t106	8-Mar-04	Issues related to the Mvelaphanda / Gold Fields combination.	Y		W		W
Harmony Gold	HAR		1-Sep-03	Share issue				N
				Scheme of arrangement				N
Hawker Resources	HKR	420126104	28-Apr-04	Ordinary business				N
				Private placement issue				N
				Option plan				N
High Point Resources Inc	HPR	42976p106	14-Apr-04	Ordinary business				N
IAMGold	IMG	450913108	6-Jul-04	Ordinary business	Y		W		W
				Merger with Wheaton River Minerals	Y		A		A
				Stock incentive plan	Y		A		A
Impala Platinum Holdings	IMP	s37840105	22-Oct-03	Ordinary business				N
				Share issue				N
				Compensation				N
				Share repurchase plan				N
Inco Ltd	N	453258402	21-Apr-04	Ordinary business				N
Kensington Energy Ltd	KNN	489906107	1-Jun-04	Ordinary business	Y		W		W
				Stock option plan	Y		W		W
				Private placements	Y		W		W
KFX Inc	KFX	48245l107	20-May-04	Ordinary business	Y		W		W
Kinross Gold	K	496902206	10-May-04	Ordinary business				N
				Stock option plan				N
				Share incentive plan				N
Lionore Mining International	LIM	535913107	19-May-04	Ordinary business				N
				Compensation				N
				Preferred share rights				N
Murphy Oil Corp	MUR	626717102	12-May-04	Ordinary business	Y		W		W
Mustang Resources	MUS.A	62820q100	17-Jun-04	Ordinary business	Y		W		W
				Stock option plan	Y		A		A
Mvelaphanda Resources	MVL		3-Feb-04	Ordinary business				N
				Compensation				N
				Share issue				N
Mvelaphanda Resources	MVL		8-Mar-04	Issues related to the Mvelaphanda / Gold Fields combination.	Y		W		W
Nabors Industries	NBR	g6359f103	1-Jun-04	Ordinary business	Y		W		W
				Shareholder proposal	Y		W		A
National-Oilwell	NOI	637071101	25-Jun-03	Ordinary business				N
National Oilwell	NOI	637071101	19-May-04	Ordinary business	Y		W		W
Nevsun Resources Ltd	NSU	64156l101	6-May-04	Ordinary business				N
Newmont Mining	NEM	651639106	28-Apr-04	Ordinary business				N
				Shareholder proposal				N
Noble Corp	NE	g65422100	22-Apr-04	Ordinary business	Y		W		W
NQL Drilling Tools Inc. CL. A	NQL.A	62936w108	20-Jun-03	Ordinary business	Y		A
				Shareholder rights plan	Y
				Stock option plan	Y
NQL Drilling Tools Inc. CL. A	NQL.A	62936w108	2-Sep-03	Ordinary business				N
				Stock option plan				N
Nuvista Energy Ltd	NVA	67072q104	18-May-04	Ordinary business	Y		W		W
				Stock option plan	Y		W		W
Pason Systems Inc	PSI	702925108	31-May-04	Ordinary business	Y		W		W
Peabody Energy Corp	BTU	704549104	6-May-04	Ordinary business				N
				Incentive plan				N
				Shareholder proposal				N
Petro-Canada	PCA	71644e 102	27-Apr-04	Ordinary business	Y		W		W
				Stock option plan	Y		W		W
				Shareholder proposals		Y	W		A
Petrokazakhstan Inc	PKZ	71649p102	4-May-04	Ordinary business				N
Petroleo Brasileiro S.A.	PBR	71654v408	29-Mar-04	Ordinary business				N
Pioneer Natural Resources Co.	PXD	723787107	13-May-04	Ordinary business	Y		W		W
Placer Dome	PDG	725906101	5-May-04	Ordinary business	Y		W		W
				Shareholder rights plan	Y		W		W
Praxair Inc.	PX	74005p104	27-Apr-04	Ordinary business	Y		W		W
				Long-term incentive plan	Y		A		A
Precision Drilling Corp.	PD	74022d100	11-May-04	Ordinary business	Y		W		W
				Stock option plan	Y		W		W
Pride International	PDE	74153q102	18-May-04	Ordinary business	Y		W		W
				Incentive plan	Y		W		W
Progress Energy	PGX.CN	742981103	13-May-04	Ordinary business	Y		W		W
				Stock option plan	Y		W		W
Progress Energy	PGX.CN	742981103	28-Jun-04	Ordinary business	Y		W		W
				Merger plan with Cequel Energy	Y		W		W
Randgold Resources	GOLD	752344309	26-Apr-04	Ordinary business				N
				Share Resolution				N
Raven Energy Ltd.	RVL	754208106	28-May-04	Ordinary business	Y		W		W
				Stock option plan	Y		W		W
Rider Resources	RRZ	765698204	17-May-04	Ordinary business	Y		W		W
				Reorganize share capital	Y		W		W
				Option plan	Y		W		W
Sappi Limited	SPP.US		1-Mar-04	Ordinary business	Y		W		W
				Share repurchase plan	Y		W		W
Sino-Forest Corp	TRE.A	82934h101	18-Jun-04	Ordinary business	Y		W		W
				Changes to share capital	Y		W		W
Sinopec Zhenhai Refining			18-Jun-04	Ordinary business	Y		W		W
Smith International	SII	832110100	20-Apr-04	Ordinary business	Y		W		W
Sons of Gwalia	SGW		14-Nov-03	Ordinary business				N
				Compensation				N
Southwestern Energy Company	SWN	845467109	12-May-04	Ordinary business				N
				Stock option plan				N
Starpoint Energy Ltd.	SPN	855568101	27-May-04	Ordinary business	Y		W		W
				Option plan	Y		W		W
				Common shares	Y		W		W
Stelmar Shipping	SJH	657824	20-Apr-04	Ordinary business				N
Talisman Energy	TLM	87425E 103	4-May-04	Ordinary business				N
Trican Well Service Ltd.	TCW	895945103	19-May-04	Ordinary business	Y		W		W
			19-May-04	Stock option plan	Y		A		A
Umicore	UMI.BB		1-Apr-04	Ordinary business	Y		W		W
				Share repurchase plan	Y		W		W
Upton Resources Inc.	URC	91685d102	28-Jan-04	Plan of Arrangement				N
Valero Energy	VLO	91913y100	1-Apr-04	Ordinary business				N
Votorantim Celulose - Spons ADR	VCP	92906p106	23-Apr-04	Ordinary business				N
				Compensation				N
West Fraser Timber Co	WFT	952845105	28-Apr-04	Ordinary business				N
Western Oilsands	WTO	959053109	12-May-04	Ordinary business	Y		W		W
Zed I Solutions Inc	ZED	989214101	10-Jun-04	Ordinary business	Y		W		W
				Stock option plan	Y		A		A

IVY INTERNATIONAL FUND

Proxy Voting Record

TECHNIP-COFLEXIP, PARIS				MIX Meeting Date: 07/11/2003
Issuer: F90676101		ISIN: FR0000131708	BLOCKING
SEDOL: 4122018, 4874160
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
E.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

MARKS AND SPENCER GROUP PLC				AGM Meeting Date: 07/16/2003
Issuer: G5824M107		ISIN: GB0031274896
SEDOL: 3127489
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
S.11	MANAGEMENT PROPOSAL		Management	For
S.12	MANAGEMENT PROPOSAL		Management	For
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

VODAFONE GROUP PLC				AGM Meeting Date: 07/30/2003
Issuer: G93882101		ISIN: GB0007192106
SEDOL: 0719210, 2615101, 5476190
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	Against
13.	MANAGEMENT PROPOSAL		Management	Against
S.14	MANAGEMENT PROPOSAL		Management	For
S.15	MANAGEMENT PROPOSAL		Management	For

CHECK POINT SOFTWARE TECHNOLOGIES LT			CHKP	Annual Meeting Date: 07/31/2003
Issuer: M22465		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
03	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
04	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
05	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes

THE NEWS CORPORATION LTD				AGM Meeting Date: 10/15/2003
Issuer: Q67027112		ISIN: AU000000NCP0
SEDOL: 0637163, 4633543, 5412105, 6633433, 6886925
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	Against
6.	MANAGEMENT PROPOSAL		Management	For

BRITISH SKY BROADCASTING GROUP PLC				AGM Meeting Date: 11/14/2003
Issuer: G15632105		ISIN: GB0001411924
SEDOL: 0141192, 5474837
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
11.	MANAGEMENT PROPOSAL		Management	Against
S.12	MANAGEMENT PROPOSAL		Management	For
S.13	MANAGEMENT PROPOSAL		Management	For

SUN HUNG KAI PROPERTIES LTD				AGM Meeting Date: 11/18/2003
Issuer: Y82594121		ISIN: HK0016000132
SEDOL: 5724394, 6859927
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	OTHER BUSINESS		Other	Against

WESTPAC BANKING CORP				AGM Meeting Date: 12/11/2003
Issuer: Q97417101		ISIN: AU000000WBC1
SEDOL: 0957258, 5412183, 6076146, 6956527, 6957393
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.a	MANAGEMENT PROPOSAL		Management	For
2.b	MANAGEMENT PROPOSAL		Management	For
2.c	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For

CAP GEMINI SA, PARIS				EGM Meeting Date: 12/18/2003
Issuer: F13587120		ISIN: FR0000125338	BLOCKING
SEDOL: 4163437, 5619382, 5710315, 7164062
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

AUSTRALIA & NEW ZEALAND BANKING GROUP LTD				AGM Meeting Date: 12/19/2003
Issuer: Q09504137		ISIN: AU000000ANZ3
SEDOL: 6065586, 6068079
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.a	GPS MGMT DIRECTOR		Management	For
2.b	GPS MGMT DIRECTOR		Management	For
2.c	GPS S/H DIRECTOR		Shareholder	Unvoted Director
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ANGLO-IRISH BANK CORP PLC				AGM Meeting Date: 01/23/2004
Issuer: G03808105		ISIN: IE0001987894
SEDOL: 0198789, 4032775
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.a	MANAGEMENT PROPOSAL		Management	For
3.b	MANAGEMENT PROPOSAL		Management	For
3.c	MANAGEMENT PROPOSAL		Management	For
3.d	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For

NEXT PLC				EGM Meeting Date: 01/29/2004
Issuer: G6500M106		ISIN: GB0032089863
SEDOL: 3208986
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For

COMPASS GROUP PLC				AGM Meeting Date: 02/16/2004
Issuer: G23296182		ISIN: GB0005331532
SEDOL: 0533153
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	Against
10.	MANAGEMENT PROPOSAL		Management	For
S.11	MANAGEMENT PROPOSAL		Management	For
S.12	MANAGEMENT PROPOSAL		Management	For

NOVARTIS AG, BASEL				AGM Meeting Date: 02/24/2004
Issuer: H5820Q150		ISIN: CH0012005267
SEDOL: 7103065
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	SWISS REGISTERED SHARES		Swiss Register	For

NOVARTIS AG, BASEL				AGM Meeting Date: 02/24/2004
Issuer: H5820Q150		ISIN: CH0012005267	BLOCKING
SEDOL: 7103065
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.1	MANAGEMENT PROPOSAL		Management	Take No Action
8.2a	MANAGEMENT PROPOSAL		Management	Take No Action
8.2b	MANAGEMENT PROPOSAL		Management	Take No Action
8.2c	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

SAMSUNG ELECTRONICS CO LTD				AGM Meeting Date: 02/27/2004
Issuer: Y74718100		ISIN: KR7005930003
SEDOL: 6771720
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.1	MANAGEMENT PROPOSAL		Management	For
2.2	MANAGEMENT PROPOSAL		Management	For
2.3	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For

LG CHEM LTD				AGM Meeting Date: 03/17/2004
Issuer: Y52758102		ISIN: KR7051910008
SEDOL: 6346913
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.1	MANAGEMENT PROPOSAL		Management	For
3.2	MANAGEMENT PROPOSAL		Management	For
3.3	MANAGEMENT PROPOSAL		Management	For
3.4	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For

NOKIA OYJ				AGM Meeting Date: 03/25/2004
Issuer: X61873133		ISIN: FI0009000681
SEDOL: 0083443, 0654504, 5902941, 5945418, 5946154, 5946455
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	Against
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	Against
6.	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ROYAL PHILIPS ELECTRONICS NV, EINDHOVEN				AGM Meeting Date: 03/25/2004
Issuer: N6817P109		ISIN: NL0000009538	BLOCKING
SEDOL: 0852643, 4183037, 4197726, 4200572, 5986622
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	OTHER BUSINESS		Other	Take No Action
9.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ROYAL PHILIPS ELECTRONICS NV, EINDHOVEN				AGM Meeting Date: 03/25/2004
Issuer: N6817P109		ISIN: NL0000009538	BLOCKING
SEDOL: 0852643, 4183037, 4197726, 4200572, 5986622
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.a	MANAGEMENT PROPOSAL		Management	Take No Action
2.b	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.c	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.d	MANAGEMENT PROPOSAL		Management	Take No Action
2.e	MANAGEMENT PROPOSAL		Management	Take No Action
2.f	MANAGEMENT PROPOSAL		Management	Take No Action
3.a	MANAGEMENT PROPOSAL		Management	Take No Action
3.b	MANAGEMENT PROPOSAL		Management	Take No Action
4.a	MANAGEMENT PROPOSAL		Management	Take No Action
4.b	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
9.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

CANON INC				AGM Meeting Date: 03/30/2004
Issuer: J05124144		ISIN: JP3242800005
SEDOL: 5485271, 6172323
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
3.17	JAPAN MANAGEMENT PROPOSAL		Management	For
3.18	JAPAN MANAGEMENT PROPOSAL		Management	For
3.19	JAPAN MANAGEMENT PROPOSAL		Management	For
3.20	JAPAN MANAGEMENT PROPOSAL		Management	For
3.21	JAPAN MANAGEMENT PROPOSAL		Management	For
3.22	JAPAN MANAGEMENT PROPOSAL		Management	For
3.23	JAPAN MANAGEMENT PROPOSAL		Management	For
3.24	JAPAN MANAGEMENT PROPOSAL		Management	For
3.25	JAPAN MANAGEMENT PROPOSAL		Management	For
3.26	JAPAN MANAGEMENT PROPOSAL		Management	For
3.27	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
7	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

SKANDINAVISKA ENSKILDA BANKEN				AGM Meeting Date: 04/01/2004
Issuer: W25381141		ISIN: SE0000148884
SEDOL: 4813345, 5463686, 7527331
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
13.	MANAGEMENT PROPOSAL		Management	For
14.	MANAGEMENT PROPOSAL		Management	For
15.	MANAGEMENT PROPOSAL		Management	For
16.	MANAGEMENT PROPOSAL		Management	For
17.	MANAGEMENT PROPOSAL		Management	For
18.	MANAGEMENT PROPOSAL		Management	For
19.	MANAGEMENT PROPOSAL		Management	For
20.	MANAGEMENT PROPOSAL		Management	For
21.a	MANAGEMENT PROPOSAL		Management	For
21.b	MANAGEMENT PROPOSAL		Management	For
21.c	MANAGEMENT PROPOSAL		Management	Against
22.d	MANAGEMENT PROPOSAL		Management	For
22.	MANAGEMENT PROPOSAL		Management	For
23.	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

SKANDINAVISKA ENSKILDA BANKEN				AGM Meeting Date: 04/01/2004
Issuer: W25381141		ISIN: SE0000148884
SEDOL: 4813345, 5463686, 7527331
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
A.	MANAGEMENT PROPOSAL		Management	For
B.	MANAGEMENT PROPOSAL		Management	For
C.	MANAGEMENT PROPOSAL		Management	For
D.	MANAGEMENT PROPOSAL		Management	For
E.	MANAGEMENT PROPOSAL		Management	For
F.	MANAGEMENT PROPOSAL		Management	For
G.	MANAGEMENT PROPOSAL		Management	For
H.	MANAGEMENT PROPOSAL		Management	For
I.1	MANAGEMENT PROPOSAL		Management	Against
I.2	SHAREHOLDER PROPOSAL		Shareholder	For
J.	MANAGEMENT PROPOSAL		Management	For
K	MANAGEMENT PROPOSAL		Management	For
L.	MANAGEMENT PROPOSAL		Management	For
M.	MANAGEMENT PROPOSAL		Management	Against
N.	MANAGEMENT PROPOSAL		Management	For
O.	MANAGEMENT PROPOSAL		Management	For
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

CLARIANT AG, MUTTENZ				AGM Meeting Date: 04/02/2004
Issuer: H14843165		ISIN: CH0012142631	BLOCKING
SEDOL: 7113990, 7167759
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	Against
5.1	MANAGEMENT PROPOSAL		Management	For
5.2	MANAGEMENT PROPOSAL		Management	For
5.3	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

TELEFON AB L.M.ERICSSON				OGM Meeting Date: 04/06/2004
Issuer: W26049119		ISIN: SE0000108656	BLOCKING
SEDOL: 0615642, 4303095, 4321558, 4411200, 5009972, 5179723, 5959378, 5962967, 5967360, 7527267
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
A.	MANAGEMENT PROPOSAL		Management	Take No Action
B.	MANAGEMENT PROPOSAL		Management	Take No Action
C.	MANAGEMENT PROPOSAL		Management	Take No Action
D.	MANAGEMENT PROPOSAL		Management	Take No Action
E.	MANAGEMENT PROPOSAL		Management	Take No Action
F.1	MANAGEMENT PROPOSAL		Management	Take No Action
F.2	MANAGEMENT PROPOSAL		Management	Take No Action
F.3	MANAGEMENT PROPOSAL		Management	Take No Action
F.4	MANAGEMENT PROPOSAL		Management	Take No Action
F.5	MANAGEMENT PROPOSAL		Management	Take No Action
F.6	MANAGEMENT PROPOSAL		Management	Take No Action
F.7	MANAGEMENT PROPOSAL		Management	Take No Action
F.8	MANAGEMENT PROPOSAL		Management	Take No Action
G.	MANAGEMENT PROPOSAL		Management	Take No Action
H.	MANAGEMENT PROPOSAL		Management	Take No Action
I.	MANAGEMENT PROPOSAL		Management	Take No Action
J.	MANAGEMENT PROPOSAL		Management	Take No Action
K.	MANAGEMENT PROPOSAL		Management	Take No Action
L.	MANAGEMENT PROPOSAL		Management	Take No Action
M.	MANAGEMENT PROPOSAL		Management	Take No Action
N.	MANAGEMENT PROPOSAL		Management	Take No Action
O.	MANAGEMENT PROPOSAL		Management	Take No Action
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

RIO TINTO PLC				AGM Meeting Date: 04/07/2004
Issuer: G75754104		ISIN: GB0007188757
SEDOL: 0718875, 4718699, 5725676, 6720595
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against
S.2	MANAGEMENT PROPOSAL		Management	For
S.3	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For

FRANCE TELECOM SA				MIX Meeting Date: 04/09/2004
Issuer: F4113C103		ISIN: FR0000133308	BLOCKING
SEDOL: 4617428, 5176177, 5356399, 5897650
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	MANAGEMENT PROPOSAL		Management	Take No Action
12.	MANAGEMENT PROPOSAL		Management	Take No Action
13.	MANAGEMENT PROPOSAL		Management	Take No Action

UBS AG				AGM Meeting Date: 04/15/2004
Issuer: H8920M855		ISIN: CH0012032030	BLOCKING
SEDOL: 2193607, 2782179, 7126114
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.1	MANAGEMENT PROPOSAL		Management	Take No Action
4.2.1	MANAGEMENT PROPOSAL		Management	Take No Action
4.2.2	MANAGEMENT PROPOSAL		Management	Take No Action
4.2.3	MANAGEMENT PROPOSAL		Management	Take No Action
4.3	MANAGEMENT PROPOSAL		Management	Take No Action
5.1	MANAGEMENT PROPOSAL		Management	Take No Action
5.2	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

WPP GROUP PLC				EGM Meeting Date: 04/16/2004
Issuer: G97974102		ISIN: GB0009740423
SEDOL: 0974042, 5474923
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For

ITV PLC				AGM Meeting Date: 04/19/2004
Issuer: G4984A110		ISIN: GB0033986497
SEDOL: 3398649
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
S.11	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	Against
S.13	MANAGEMENT PROPOSAL		Management	For
14.	MANAGEMENT PROPOSAL		Management	For

PUMA AG RUDOLF DASSLER SPORT				AGM Meeting Date: 04/20/2004
Issuer: D62318148		ISIN: DE0006969603	BLOCKING
SEDOL: 5064722
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action

TELEVISION FRANCAISE 1 SA TF1				MIX Meeting Date: 04/20/2004
Issuer: F91255103		ISIN: FR0000054900	BLOCKING
SEDOL: 4881160, 5883864, 5997118, 5999017, 7166284
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
E.12	MANAGEMENT PROPOSAL		Management	Take No Action
E.13	MANAGEMENT PROPOSAL		Management	Take No Action
E.14	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

TELEVISION FRANCAISE 1 SA TF1				MIX Meeting Date: 04/20/2004
Issuer: F91255103		ISIN: FR0000054900	BLOCKING
SEDOL: 4881160, 5883864, 5997118, 5999017, 7166284
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
E.11	MANAGEMENT PROPOSAL		Management	Take No Action
E.12	MANAGEMENT PROPOSAL		Management	Take No Action
E.13	MANAGEMENT PROPOSAL		Management	Take No Action
E.14	MANAGEMENT PROPOSAL		Management	Take No Action
E.15	MANAGEMENT PROPOSAL		Management	Take No Action
E.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

AXA, PARIS				MIX Meeting Date: 04/21/2004
Issuer: F06106102		ISIN: FR0000120628	BLOCKING
SEDOL: 4026927, 5179648, 5766705, 7088429, 7088753, 7090509, 7166013
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	MANAGEMENT PROPOSAL		Management	Take No Action
12.	MANAGEMENT PROPOSAL		Management	Take No Action
13.	MANAGEMENT PROPOSAL		Management	Take No Action
14.	MANAGEMENT PROPOSAL		Management	Take No Action
15.	MANAGEMENT PROPOSAL		Management	Take No Action
16.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

BRITISH AMERICAN TOBACCO PLC				AGM Meeting Date: 04/21/2004
Issuer: G1510J102		ISIN: GB0002875804
SEDOL: 0287580, 5617278
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.a	MANAGEMENT PROPOSAL		Management	For
6.b	MANAGEMENT PROPOSAL		Management	For
6.c	MANAGEMENT PROPOSAL		Management	For
6.d	MANAGEMENT PROPOSAL		Management	For
S.7	MANAGEMENT PROPOSAL		Management	For
S.8.a	MANAGEMENT PROPOSAL		Management	For
S.8.b	MANAGEMENT PROPOSAL		Management	For

NESTLE SA, CHAM UND VEVEY				AGM Meeting Date: 04/22/2004
Issuer: H57312466		ISIN: CH0012056047	BLOCKING
SEDOL: 3056044, 7123870
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.A	MANAGEMENT PROPOSAL		Management	Take No Action
4.B	MANAGEMENT PROPOSAL		Management	Take No Action
4.C	MANAGEMENT PROPOSAL		Management	Take No Action
4.D	MANAGEMENT PROPOSAL		Management	Take No Action
4.E	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

REUTERS GROUP PLC				AGM Meeting Date: 04/22/2004
Issuer: G7540P109		ISIN: GB0002369139
SEDOL: 0236913, 5417478
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
13.	MANAGEMENT PROPOSAL		Management	For
14.	MANAGEMENT PROPOSAL		Management	For
15.	MANAGEMENT PROPOSAL		Management	For
16.	MANAGEMENT PROPOSAL		Management	For
S.17	MANAGEMENT PROPOSAL		Management	For
S.18	MANAGEMENT PROPOSAL		Management	For
19.	MANAGEMENT PROPOSAL		Management	Against
S.20	MANAGEMENT PROPOSAL		Management	For

SYNTHES-STRATEC INC				AGM Meeting Date: 04/22/2004
Issuer: 87162M102		ISIN: US87162M1027	BLOCKING
SEDOL: 2457648, 2518589, 4532673, 4604840
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

DEPFA BANK PLC, DUBLIN				AGM Meeting Date: 04/26/2004
Issuer: G27230104		ISIN: IE0072559994
SEDOL: 7255999
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For

THOMSON				MIX Meeting Date: 04/26/2004
Issuer: F91823108		ISIN: FR0000184533	BLOCKING
SEDOL: 5988930, 5994012, 7165537
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	MANAGEMENT PROPOSAL		Management	Take No Action
12.	MANAGEMENT PROPOSAL		Management	Take No Action
13.	MANAGEMENT PROPOSAL		Management	Take No Action
14.	MANAGEMENT PROPOSAL		Management	Take No Action
15.	MANAGEMENT PROPOSAL		Management	Take No Action
16.	MANAGEMENT PROPOSAL		Management	Take No Action
17.	MANAGEMENT PROPOSAL		Management	Take No Action
18.	MANAGEMENT PROPOSAL		Management	Take No Action
19.	MANAGEMENT PROPOSAL		Management	Take No Action
20.	MANAGEMENT PROPOSAL		Management	Take No Action
21.	MANAGEMENT PROPOSAL		Management	Take No Action
22.	MANAGEMENT PROPOSAL		Management	Take No Action
23.	MANAGEMENT PROPOSAL		Management	Take No Action
24.	MANAGEMENT PROPOSAL		Management	Take No Action
25.	MANAGEMENT PROPOSAL		Management	Take No Action
26.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ING GROEP NV				AGM Meeting Date: 04/27/2004
Issuer: N4578E413		ISIN: NL0000303600	BLOCKING
SEDOL: 7154160, 7154182, 7159176
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.A	MANAGEMENT PROPOSAL		Management	Take No Action
2.B	MANAGEMENT PROPOSAL		Management	Take No Action
3.A	MANAGEMENT PROPOSAL		Management	Take No Action
3.B	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.A	MANAGEMENT PROPOSAL		Management	Take No Action
5.B	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.A	MANAGEMENT PROPOSAL		Management	Take No Action
7.B	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.A	MANAGEMENT PROPOSAL		Management	Take No Action
9.B	MANAGEMENT PROPOSAL		Management	Take No Action
9.C	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	MANAGEMENT PROPOSAL		Management	Take No Action
12.	MANAGEMENT PROPOSAL		Management	Take No Action
13.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

MEDIASET SPA				AGM Meeting Date: 04/27/2004
Issuer: T6688Q107		ISIN: IT0001063210	BLOCKING
SEDOL: 5077946, 5474774
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
E.1	MANAGEMENT PROPOSAL		Management	Take No Action

BANCA NAZIONALE DEL LAVORO SPA BNL, ROMA				MIX Meeting Date: 04/28/2004
Issuer: T1240P119		ISIN: IT0001254884	BLOCKING
SEDOL: 5528604, 5616167
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
E.1	MANAGEMENT PROPOSAL		Management	Take No Action
E.2	MANAGEMENT PROPOSAL		Management	Take No Action
E.3	MANAGEMENT PROPOSAL		Management	Take No Action

TECAN GROUP AG, MAENNEDORF				AGM Meeting Date: 04/28/2004
Issuer: H84774167		ISIN: CH0012100191	BLOCKING
SEDOL: 7110902
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	SWISS REGISTERED SHARES		Swiss Register	Take No Action

TECAN GROUP AG, MAENNEDORF				OGM Meeting Date: 04/28/2004
Issuer: H84774167		ISIN: CH0012100191	BLOCKING
SEDOL: 7110902
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.1	MANAGEMENT PROPOSAL		Management	Take No Action
5.2	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

TOTAL SA				MIX Meeting Date: 04/28/2004
Issuer: F92124100		ISIN: FR0000120271	BLOCKING
SEDOL: 0214663, 4617462, 4905413, 5180628, 5638279, 5836976
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	SHAREHOLDER PROPOSAL		Shareholder	Take No Action
O.12	SHAREHOLDER PROPOSAL		Shareholder	Take No Action
O.13	SHAREHOLDER PROPOSAL		Shareholder	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
O.16	MANAGEMENT PROPOSAL		Management	Take No Action
O.17	MANAGEMENT PROPOSAL		Management	Take No Action
O.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
E.20	MANAGEMENT PROPOSAL		Management	Take No Action
E.21	MANAGEMENT PROPOSAL		Management	Take No Action
E.22	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

AU OPTRONICS CORP.			AUO	Annual Meeting Date: 04/29/2004
Issuer: 002255		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
02	ARTICLES OF ASSOCIATION		Management	For	No
03	ELECTION OF DIRECTORS		Management	For	No
04	MISCELLANEOUS CORPORATE ACTIONS - GLOBAL		Management	For	No
05	DIVIDEND		Management	For	No
06	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Shareholder	For	No
07	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

BASF AG, LUDWIGSHAFEN/RHEIN				AGM Meeting Date: 04/29/2004
Issuer: D06216101		ISIN: DE0005151005	BLOCKING
SEDOL: 0067737, 0083142, 4082833, 4083483, 4083654, 4083665, 4083676, 4611185, 5086577, 5086588, 5086599, 6072036
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action

CEMEX, S.A. DE C.V.			CX	Annual Meeting Date: 04/29/2004
Issuer: 151290		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
A1	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A2	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A3	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A4	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A5	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A6	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes

ROYAL BANK OF SCOTLAND GROUP PLC				AGM Meeting Date: 04/29/2004
Issuer: G76891111		ISIN: GB0007547838
SEDOL: 0754783, 2337201, 2663003, 5824023
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
13.	MANAGEMENT PROPOSAL		Management	Against
14.	MANAGEMENT PROPOSAL		Management	For
15.	MANAGEMENT PROPOSAL		Management	For
16.	MANAGEMENT PROPOSAL		Management	Against
17.	MANAGEMENT PROPOSAL		Management	For

BANCO POPOLARE DI VERONA E NOVARA SCRL, VERONA				OGM Meeting Date: 04/30/2004
Issuer: T1866D101		ISIN: IT0003262513	BLOCKING
SEDOL: 7378261
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action

CREDIT SUISSE GROUP, ZUERICH				AGM Meeting Date: 04/30/2004
Issuer: H3698D419		ISIN: CH0012138530	BLOCKING
SEDOL: 6384548, 7146327, 7154706, 7171589
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.1	MANAGEMENT PROPOSAL		Management	Take No Action
3.2	MANAGEMENT PROPOSAL		Management	Take No Action
4.1a	MANAGEMENT PROPOSAL		Management	Take No Action
4.1b	MANAGEMENT PROPOSAL		Management	Take No Action
4.1c	MANAGEMENT PROPOSAL		Management	Take No Action
4.1d	MANAGEMENT PROPOSAL		Management	Take No Action
4.1e	MANAGEMENT PROPOSAL		Management	Take No Action
4.2	MANAGEMENT PROPOSAL		Management	Take No Action
4.3	MANAGEMENT PROPOSAL		Management	Take No Action
5.1	MANAGEMENT PROPOSAL		Management	Take No Action
5.2	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AG, WIEN				AGM Meeting Date: 05/04/2004
Issuer: A19494102		ISIN: AT0000652011	BLOCKING
SEDOL: 5289837, 5369449, 7440621
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	MANAGEMENT PROPOSAL		Management	Take No Action
12.	MANAGEMENT PROPOSAL		Management	Take No Action
13.A	MANAGEMENT PROPOSAL		Management	Take No Action
13.B	MANAGEMENT PROPOSAL		Management	Take No Action

ALLIANZ AG, MUENCHEN				AGM Meeting Date: 05/05/2004
Issuer: D03080112		ISIN: DE0008404005
SEDOL: 0018490, 0048646, 5231485, 5242487, 5479531, 5766749, 7158333
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	Against
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	Against
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

SAP AG SYSTEME ANWENDUNGEN PRODUKTE IN DER DATENVERARBEITUNG, WALLDORF/BADEN				AGM Meeting Date: 05/06/2004
Issuer: D66992104		ISIN: DE0007164600	BLOCKING
SEDOL: 4616889, 4846288, 4882185
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action

SCHNEIDER ELECTRIC SA				MIX Meeting Date: 05/06/2004
Issuer: F86921107		ISIN: FR0000121972	BLOCKING
SEDOL: 4834108, 5395875, 7165463
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
O.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
E.20	MANAGEMENT PROPOSAL		Management	Take No Action
E.21	MANAGEMENT PROPOSAL		Management	Take No Action
E.22	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

SHOPPERS DRUG MART CORPORATION				Special Meeting Date: 05/11/2004
Issuer: 82509W		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
02	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
03	ARTICLES OF ASSOCIATION		Management	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

STANDARD CHARTERED PLC				AGM Meeting Date: 05/11/2004
Issuer: G84228157		ISIN: GB0004082847
SEDOL: 0408284, 6558484, 7032039
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
13.	MANAGEMENT PROPOSAL		Management	Against
14.	MANAGEMENT PROPOSAL		Management	Against
S.15	MANAGEMENT PROPOSAL		Management	For
S.16	MANAGEMENT PROPOSAL		Management	For
S.17	MANAGEMENT PROPOSAL		Management	For
18.	MANAGEMENT PROPOSAL		Management	For
19.	MANAGEMENT PROPOSAL		Management	For

TAIWAN SEMICONDUCTOR MFG. CO. LTD.			TSM	Annual Meeting Date: 05/11/2004
Issuer: 874039		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
05	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
07	DIVIDEND		Management	For	No

NEXT PLC				AGM Meeting Date: 05/13/2004
Issuer: G6500M106		ISIN: GB0032089863
SEDOL: 3208986
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
S.8	MANAGEMENT PROPOSAL		Management	For
S.9	MANAGEMENT PROPOSAL		Management	For

RECKITT BENCKISER PLC				AGM Meeting Date: 05/13/2004
Issuer: G7420A107		ISIN: GB0007278715
SEDOL: 0727871, 5861268
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
S.11	MANAGEMENT PROPOSAL		Management	For
S.12	MANAGEMENT PROPOSAL		Management	For

BALOISE-HOLDING, BASEL				OGM Meeting Date: 05/14/2004
Issuer: H04530202		ISIN: CH0012410517	BLOCKING
SEDOL: 7124594
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	SWISS REGISTERED SHARES		Swiss Register	Take No Action

BALOISE-HOLDING, BASEL				OGM Meeting Date: 05/14/2004
Issuer: H04530202		ISIN: CH0012410517	BLOCKING
SEDOL: 7124594
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action

TOTAL SA				MIX Meeting Date: 05/14/2004
Issuer: F92124100		ISIN: FR0000120271	BLOCKING
SEDOL: 0214663, 4617462, 4905413, 5180628, 5638279, 5836976
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
0.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	SHAREHOLDER PROPOSAL		Shareholder	Take No Action
O.12	SHAREHOLDER PROPOSAL		Shareholder	Take No Action
O.13	SHAREHOLDER PROPOSAL		Shareholder	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
O.16	MANAGEMENT PROPOSAL		Management	Take No Action
O.17	MANAGEMENT PROPOSAL		Management	Take No Action
O.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
E.20	MANAGEMENT PROPOSAL		Management	Take No Action
E.21	MANAGEMENT PROPOSAL		Management	Take No Action
E.22	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

GLAXOSMITHKLINE PLC				AGM Meeting Date: 05/17/2004
Issuer: G3910J112		ISIN: GB0009252882
SEDOL: 0925288, 4907657
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
S.11	MANAGEMENT PROPOSAL		Management	For
S.12	MANAGEMENT PROPOSAL		Management	For

PERNOD-RICARD				MIX Meeting Date: 05/17/2004
Issuer: F72027109		ISIN: FR0000120693	BLOCKING
SEDOL: 4427100, 4682318, 4682329
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
E.14	MANAGEMENT PROPOSAL		Management	Take No Action
E.15	MANAGEMENT PROPOSAL		Management	Take No Action
E.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
E.20	MANAGEMENT PROPOSAL		Management	Take No Action
E.21	MANAGEMENT PROPOSAL		Management	Take No Action
E.22	MANAGEMENT PROPOSAL		Management	Take No Action

ABB LTD, ZUERICH				AGM Meeting Date: 05/18/2004
Issuer: H0010V101		ISIN: CH0012221716	BLOCKING
SEDOL: 3044180, 5702259, 7108899, 7113815, 7144053
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	SWISS REGISTERED SHARES		Swiss Register	Take No Action

ABB LTD, ZUERICH				AGM Meeting Date: 05/18/2004
Issuer: H0010V101		ISIN: CH0012221716	BLOCKING
SEDOL: 3044180, 5702259, 7108899, 7113815, 7144053
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

CREDIT AGRICOLE SA, PARIS				MIX Meeting Date: 05/19/2004
Issuer: F22797108		ISIN: FR0000045072	BLOCKING
SEDOL: 7262610, 7688272
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
E.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

CREDIT AGRICOLE SA, PARIS				MIX Meeting Date: 05/19/2004
Issuer: F22797108		ISIN: FR0000045072	BLOCKING
SEDOL: 7262610, 7688272
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
E.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
E.20	MANAGEMENT PROPOSAL		Management	Take No Action
E.21	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ENI SPA, ROMA				MIX Meeting Date: 05/25/2004
Issuer: T3643A145		ISIN: IT0003132476	BLOCKING
SEDOL: 7145056
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
E.1	MANAGEMENT PROPOSAL		Management	Take No Action
E.2	MANAGEMENT PROPOSAL		Management	Take No Action

LAFARGE SA				AGM Meeting Date: 05/25/2004
Issuer: F54432111		ISIN: FR0000120537	BLOCKING
SEDOL: 0500481, 4502706, 4503118, 4516547, 4538961, 7164642
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

SERONO SA, COINSINS				AGM Meeting Date: 05/25/2004
Issuer: H0274W159		ISIN: CH0010751920	BLOCKING
SEDOL: 5981070, 5981326
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.1	MANAGEMENT PROPOSAL		Management	Take No Action
3.2	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.1.1	MANAGEMENT PROPOSAL		Management	Take No Action
7.1.2	MANAGEMENT PROPOSAL		Management	Take No Action
7.2	MANAGEMENT PROPOSAL		Management	Take No Action
7.3	MANAGEMENT PROPOSAL		Management	Take No Action

EURONEXT NV, AMSTERDAM				AGM Meeting Date: 05/26/2004
Issuer: N3113K108		ISIN: NL0000241511	BLOCKING
SEDOL: 7153758, 7153769, 7153770
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.A	MANAGEMENT PROPOSAL		Management	Take No Action
3.B	MANAGEMENT PROPOSAL		Management	Take No Action
3.C	MANAGEMENT PROPOSAL		Management	Take No Action
3.D	MANAGEMENT PROPOSAL		Management	Take No Action
3.E	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.A	MANAGEMENT PROPOSAL		Management	Take No Action
7.B	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	OTHER BUSINESS		Other	Take No Action
12.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

EURONEXT NV, AMSTERDAM				AGM Meeting Date: 05/26/2004
Issuer: N3113K108		ISIN: NL0000241511	BLOCKING
SEDOL: 7153758, 7153769, 7153770
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.A	MANAGEMENT PROPOSAL		Management	Take No Action
3.B	MANAGEMENT PROPOSAL		Management	Take No Action
3.C	MANAGEMENT PROPOSAL		Management	Take No Action
3.D	MANAGEMENT PROPOSAL		Management	Take No Action
3.E	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.A	MANAGEMENT PROPOSAL		Management	Take No Action
6.B	MANAGEMENT PROPOSAL		Management	Take No Action
6.C	MANAGEMENT PROPOSAL		Management	Take No Action
6.D	MANAGEMENT PROPOSAL		Management	Take No Action
7.A	MANAGEMENT PROPOSAL		Management	Take No Action
7.B	MANAGEMENT PROPOSAL		Management	Take No Action
8.A	MANAGEMENT PROPOSAL		Management	Take No Action
8.B	MANAGEMENT PROPOSAL		Management	Take No Action
8.C	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	OTHER BUSINESS		Other	Take No Action
12.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AKTIENGESELLSCHAFT IN MUENCHEN, MUENC				AGM Meeting Date: 05/26/2004
Issuer: D55535104		ISIN: DE0008430026
SEDOL: 4904409, 5294121, 7159239, 7389081
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ITO-YOKADO CO LTD				AGM Meeting Date: 05/27/2004
Issuer: J25209115		ISIN: JP3142800006
SEDOL: 4468723, 5335149, 6467944
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
3.17	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

HOYA CORP				AGM Meeting Date: 06/18/2004
Issuer: J22848105		ISIN: JP3837800006
SEDOL: 5689374, 6441506
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2.1	JAPAN MANAGEMENT PROPOSAL		Management	For
2.2	JAPAN MANAGEMENT PROPOSAL		Management	For
2.3	JAPAN MANAGEMENT PROPOSAL		Management	For
2.4	JAPAN MANAGEMENT PROPOSAL		Management	For
2.5	JAPAN MANAGEMENT PROPOSAL		Management	For
2.6	JAPAN MANAGEMENT PROPOSAL		Management	For
2.7	JAPAN MANAGEMENT PROPOSAL		Management	For
2.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3	JAPAN MANAGEMENT PROPOSAL		Management	For

NTT DOCOMO INC, TOKYO				AGM Meeting Date: 06/18/2004
Issuer: J59399105		ISIN: JP3165650007
SEDOL: 5559079, 6129277
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
4.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.6	JAPAN MANAGEMENT PROPOSAL		Management	For
4.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.8	JAPAN MANAGEMENT PROPOSAL		Management	For
4.9	JAPAN MANAGEMENT PROPOSAL		Management	For
4.10	JAPAN MANAGEMENT PROPOSAL		Management	For
4.11	JAPAN MANAGEMENT PROPOSAL		Management	For
4.12	JAPAN MANAGEMENT PROPOSAL		Management	For
4.13	JAPAN MANAGEMENT PROPOSAL		Management	For
4.14	JAPAN MANAGEMENT PROPOSAL		Management	For
4.15	JAPAN MANAGEMENT PROPOSAL		Management	For
4.16	JAPAN MANAGEMENT PROPOSAL		Management	For
4.17	JAPAN MANAGEMENT PROPOSAL		Management	For
4.18	JAPAN MANAGEMENT PROPOSAL		Management	For
4.19	JAPAN MANAGEMENT PROPOSAL		Management	For
4.20	JAPAN MANAGEMENT PROPOSAL		Management	For
4.21	JAPAN MANAGEMENT PROPOSAL		Management	For
4.22	JAPAN MANAGEMENT PROPOSAL		Management	For
4.23	JAPAN MANAGEMENT PROPOSAL		Management	For
4.24	JAPAN MANAGEMENT PROPOSAL		Management	For
4.25	JAPAN MANAGEMENT PROPOSAL		Management	For
5.	JAPAN MANAGEMENT PROPOSAL		Management	For
6.	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

TESCO PLC				AGM Meeting Date: 06/18/2004
Issuer: G87621101		ISIN: GB0008847096
SEDOL: 0884709, 5469491, 5474860
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
S.4	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
13.	MANAGEMENT PROPOSAL		Management	For
14.	MANAGEMENT PROPOSAL		Management	For
15.	MANAGEMENT PROPOSAL		Management	For
16.	MANAGEMENT PROPOSAL		Management	For
17.	MANAGEMENT PROPOSAL		Management	Against
S.18	MANAGEMENT PROPOSAL		Management	For
S.19	MANAGEMENT PROPOSAL		Management	For
20.	MANAGEMENT PROPOSAL		Management	Against
21.	MANAGEMENT PROPOSAL		Management	Against
22.	MANAGEMENT PROPOSAL		Management	Against
23.	MANAGEMENT PROPOSAL		Management	Against
24.	MANAGEMENT PROPOSAL		Management	For
25.	MANAGEMENT PROPOSAL		Management	For

HONDA MOTOR CO LTD				AGM Meeting Date: 06/23/2004
Issuer: J22302111		ISIN: JP3854600008
SEDOL: 0435141, 4435482, 5326273, 6435145
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
3.17	JAPAN MANAGEMENT PROPOSAL		Management	For
3.18	JAPAN MANAGEMENT PROPOSAL		Management	For
3.19	JAPAN MANAGEMENT PROPOSAL		Management	For
3.20	JAPAN MANAGEMENT PROPOSAL		Management	For
3.21	JAPAN MANAGEMENT PROPOSAL		Management	For
3.22	JAPAN MANAGEMENT PROPOSAL		Management	For
3.23	JAPAN MANAGEMENT PROPOSAL		Management	For
3.24	JAPAN MANAGEMENT PROPOSAL		Management	For
3.25	JAPAN MANAGEMENT PROPOSAL		Management	For
3.26	JAPAN MANAGEMENT PROPOSAL		Management	For
3.27	JAPAN MANAGEMENT PROPOSAL		Management	For
3.28	JAPAN MANAGEMENT PROPOSAL		Management	For
3.29	JAPAN MANAGEMENT PROPOSAL		Management	For
3.30	JAPAN MANAGEMENT PROPOSAL		Management	For
3.31	JAPAN MANAGEMENT PROPOSAL		Management	For
3.32	JAPAN MANAGEMENT PROPOSAL		Management	For
3.33	JAPAN MANAGEMENT PROPOSAL		Management	For
3.34	JAPAN MANAGEMENT PROPOSAL		Management	For
3.35	JAPAN MANAGEMENT PROPOSAL		Management	For
3.36	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6	JAPAN MANAGEMENT PROPOSAL		Management	For
7	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

NIDEC CORP				AGM Meeting Date: 06/23/2004
Issuer: J52968104		ISIN: JP3734800000
SEDOL: 6640682
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

TOYOTA MOTOR CORP				AGM Meeting Date: 06/23/2004
Issuer: J92676113		ISIN: JP3633400001
SEDOL: 0851435, 2205870, 4871503, 6900643
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
3.17	JAPAN MANAGEMENT PROPOSAL		Management	For
3.18	JAPAN MANAGEMENT PROPOSAL		Management	For
3.19	JAPAN MANAGEMENT PROPOSAL		Management	For
3.20	JAPAN MANAGEMENT PROPOSAL		Management	For
3.21	JAPAN MANAGEMENT PROPOSAL		Management	For
3.22	JAPAN MANAGEMENT PROPOSAL		Management	For
3.23	JAPAN MANAGEMENT PROPOSAL		Management	For
3.24	JAPAN MANAGEMENT PROPOSAL		Management	For
3.25	JAPAN MANAGEMENT PROPOSAL		Management	For
3.26	JAPAN MANAGEMENT PROPOSAL		Management	For
3.27	JAPAN MANAGEMENT PROPOSAL		Management	For
4.	JAPAN MANAGEMENT PROPOSAL		Management	For
5.	JAPAN MANAGEMENT PROPOSAL		Management	For
6.1	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6.2	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6.3	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
7.	JAPAN SHAREHOLDER PROPOSAL		Other	Against
8.	JAPAN SHAREHOLDER PROPOSAL		Other	Against
9.	JAPAN SHAREHOLDER PROPOSAL		Other	For

ACOM CO LTD				AGM Meeting Date: 06/24/2004
Issuer: J00105106		ISIN: JP3108600002
SEDOL: 5856758, 6049784
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

FUNAI ELECTRIC CO LTD, OSAKA				AGM Meeting Date: 06/24/2004
Issuer: J16307100		ISIN: JP3825850005
SEDOL: 50
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
7	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

MITSUI & CO LTD				AGM Meeting Date: 06/24/2004
Issuer: J44690139		ISIN: JP3893600001
SEDOL: 4594071, 5736463, 6597302
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

NEC ELECTRONICS CORP, KAWASAKI				AGM Meeting Date: 06/25/2004
Issuer: J4881U109		ISIN: JP3164720009
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	Against
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against
7	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

NOMURA HOLDINGS INC				AGM Meeting Date: 06/25/2004
Issuer: J59009159		ISIN: JP3762600009
SEDOL: 4601045, 4644879, 6643108, 6650487
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For

UFJ HOLDINGS INC, TOKYO				AGM Meeting Date: 06/25/2004
Issuer: J9400N106		ISIN: JP3944300007
SEDOL: 6335223
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For

WPP GROUP PLC				AGM Meeting Date: 06/28/2004
Issuer: G97974102		ISIN: GB0009740423
SEDOL: 0974042, 5474923
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.a	MANAGEMENT PROPOSAL		Management	For
3.b	MANAGEMENT PROPOSAL		Management	For
3.c	MANAGEMENT PROPOSAL		Management	For
3.d	MANAGEMENT PROPOSAL		Management	For
3.e	MANAGEMENT PROPOSAL		Management	For
3.f	MANAGEMENT PROPOSAL		Management	For
3.g	MANAGEMENT PROPOSAL		Management	For
3.h	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	Against
S.6	MANAGEMENT PROPOSAL		Management	For
S.7	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For

DENTSU INC, TOKYO				AGM Meeting Date: 06/29/2004
Issuer: J1207N108		ISIN: JP3551520004
SEDOL: 6416281
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	Against
4.4	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

KAO CORP				AGM Meeting Date: 06/29/2004
Issuer: J30642169		ISIN: JP3205800000
SEDOL: 5685479, 6483809
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
4.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.6	JAPAN MANAGEMENT PROPOSAL		Management	For
4.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.8	JAPAN MANAGEMENT PROPOSAL		Management	For
4.9	JAPAN MANAGEMENT PROPOSAL		Management	For
4.10	JAPAN MANAGEMENT PROPOSAL		Management	For
4.11	JAPAN MANAGEMENT PROPOSAL		Management	For
4.12	JAPAN MANAGEMENT PROPOSAL		Management	For
4.13	JAPAN MANAGEMENT PROPOSAL		Management	For
4.14	JAPAN MANAGEMENT PROPOSAL		Management	For
4.15	JAPAN MANAGEMENT PROPOSAL		Management	For
5.	JAPAN MANAGEMENT PROPOSAL		Management	For
6.	JAPAN MANAGEMENT PROPOSAL		Management	For
7.	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

MITSUI FUDOSAN CO LTD (FORMERLY MITSUI REAL ESTATE DEVELOPMENT CO LTD)				AGM Meeting Date: 06/29/2004
Issuer: J4509L101		ISIN: JP3893200000
SEDOL: 5451788, 6597603
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

MITSUI TRUST HOLDINGS INC, TOKYO				AGM Meeting Date: 06/29/2004
Issuer: J6150N104		ISIN: JP3892100003
SEDOL: 6431897, B010YW8
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

NIPPON TELEGRAPH & TELEPHONE CORP NTT				AGM Meeting Date: 06/29/2004
Issuer: J59396101		ISIN: JP3735400008
SEDOL: 0641186, 5168602, 6641373
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
4.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.6	JAPAN MANAGEMENT PROPOSAL		Management	For
4.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.8	JAPAN MANAGEMENT PROPOSAL		Management	For
4.9	JAPAN MANAGEMENT PROPOSAL		Management	For
4.10	JAPAN MANAGEMENT PROPOSAL		Management	For
4.11	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

NIPPON TELEVISION NETWORK CORP				AGM Meeting Date: 06/29/2004
Issuer: J56171101		ISIN: JP3732200005
SEDOL: 5899805, 6644060
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	Against
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

SUMITOMO MITSUI FINANCIAL GROUP INC, TOKYO				AGM Meeting Date: 06/29/2004
Issuer: J7771X109		ISIN: JP3890350006
SEDOL: 3250095, 6563024
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

TAKEDA CHEMICAL INDUSTRIES LTD				AGM Meeting Date: 06/29/2004
Issuer: J81281115		ISIN: JP3463000004
SEDOL: 5296752, 6870445
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

IVY INTERNATIONAL BALANCED FUND

Proxy Voting Record

Location Name	Location ID	Account Name	CustBank AcctNbr	Client Account Nbr	Report Group	VotingBlock	Name	Ticker	Security ID	Country	Meeting Date	Record Date	Meeting Type	Ballot Shares	Seq Number	Ballot Item Number	Mor S	Category	Item Desc	MgtRecVote	VoteCast
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Check Point Software Technologies Inc	CHKP	M22465104	Israel	07/31/03	06/23/03	Annual	33700	1	1	M	Directors Related	Elect Gil Shwed, Marius Nacht, David Rubner, Alex Serge Vieux, and Dr. Tal Shavit as Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Check Point Software Technologies Inc	CHKP	M22465104	Israel	07/31/03	06/23/03	Annual	33700	2	2	M	Directors Related	Elect Irwin Federman and Ray Rothrock as External Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Check Point Software Technologies Inc	CHKP	M22465104	Israel	07/31/03	06/23/03	Annual	33700	3	3	M	Routine/Business	Authorization for Chairman of the Board to Serve as Chairman of the Board and Cheif Executive Officer	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Check Point Software Technologies Inc	CHKP	M22465104	Israel	07/31/03	06/23/03	Annual	33700	4	4	M	Routine/Business	Accept Financial Statements for the Year Ended December 31, 2002	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Check Point Software Technologies Inc	CHKP	M22465104	Israel	07/31/03	06/23/03	Annual	33700	5	5	M	Routine/Business	Approve Kost Forer & Gabbay as Auditors and Authorize Board to Fix Their Remuneration	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Check Point Software Technologies Inc	CHKP	M22465104	Israel	07/31/03	06/23/03	Annual	33700	6	6	M	Directors Related	Approve Options to Purchase Two Million Shares to Gil Shwed, Director and Officer, and One Million Shares to Marius Nacht, Director and Officer	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Satyam Computer Services		804098101	India	07/25/03		Annual	3300	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Satyam Computer Services		804098101	India	07/25/03		Annual	3300	2	2	M	Routine/Business	Approve Dividends of INR 2.2 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Satyam Computer Services		804098101	India	07/25/03		Annual	3300	3	3	M	Directors Related	Reappoint V.P. Rama Rao as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Satyam Computer Services		804098101	India	07/25/03		Annual	3300	4	4	M	Routine/Business	Approve Price Waterhouse as Auditors and Authorize Board to Fix Their Remuneration	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Satyam Computer Services		804098101	India	07/25/03		Annual	3300	5	5	M	Directors Related	Appoint K.G. Palepu as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Satyam Computer Services		804098101	India	07/25/03		Annual	3300	6	6	M	Directors Related	Appoint V.K. Dham as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Satyam Computer Services		804098101	India	07/25/03		Annual	3300	7	7	M	Capitalization	Approve Issuance of Shares Pursuant to the Share Option Scheme	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Satyam Computer Services		804098101	India	07/25/03		Annual	3300	8	8	M	Directors Related	Approve Remuneration of Non-executive Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Korea Electric Power Corp		500631106	South Korea	07/31/03	06/30/03	Special	33550	1	1	M	Directors Related	Elect Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	Korea Electric Power Corp		500631106	South Korea	07/31/03	06/30/03	Special	33550	2	2	M	Routine/Business	Amend Articles of Incorporation Re: Preemptive Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942	322	TICLLC/Temple	Temple TICLLC-88D	SanPaolo Imi Spa		T8249V104	Italy	11/25/03		Special	12500			S
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	2	1	M	Routine/Business	Approve Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	3	2	M	Routine/Business	Accept Consolidated Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	4	3	M	Routine/Business	Approve Treatment of Losses	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	5	4	M	Routine/Business	Approve Special Auditors' Report Regarding Related-Party Transactions	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	6	5	M	Directors Related	Elect Gerard Hauser as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	7	6	M	Routine/Business	Ratify Barbier Frinault & Autres as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	8	7	M	Routine/Business	Ratify Pascal Macioce as Alternate Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	9	8	M	Routine/Business	Ratify Deloitte Touche & Tohmatsu as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	10	9	M	Routine/Business	Ratify BEAS as Alternate Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	11	10	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	13	11	M	Routine/Business	Confirm That Decline in the Company's Shareholder Equity Relative to Its Capital Will Not Result in the Anticipated Liquidation of the Company	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	14	12	M	Capitalization	Approve Reduction in Par Value from EUR 6 to EUR 1.25 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	15	13	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 600 Million	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	16	14	M	Non-Salary Comp.	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	17	15	M	Capitalization	Approve Reduction in Share Capital via Cancellation of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Alstom		F02594103	France	07/02/03		Annual/ Special	21534	18	16	M	Routine/Business	Authorize Filing of Required Documents/Other Formalities	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Marks & Spencer Group PLC (formerly Marks & Spencer Plc)		G5824M107	United Kingdom	07/16/03		Annual	75544	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Marks & Spencer Group PLC (formerly Marks & Spencer Plc)		G5824M107	United Kingdom	07/16/03		Annual	75544	2	2	M	Non-Salary Comp.	Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Marks & Spencer Group PLC (formerly Marks & Spencer Plc)		G5824M107	United Kingdom	07/16/03		Annual	75544	3	3	M	Routine/Business	Approve Final Dividend of 6.5 Pence Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Marks & Spencer Group PLC (formerly Marks & Spencer Plc)		G5824M107	United Kingdom	07/16/03		Annual	75544	4	4	M	Directors Related	Elect Justin King as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Marks & Spencer Group PLC (formerly Marks & Spencer Plc)		G5824M107	United Kingdom	07/16/03		Annual	75544	5	5	M	Directors Related	Elect Vittorio Radice as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Marks & Spencer Group PLC (formerly Marks & Spencer Plc)		G5824M107	United Kingdom	07/16/03		Annual	75544	6	6	M	Directors Related	Reelect Roger Holmes as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Marks & Spencer Group PLC (formerly Marks & Spencer Plc)		G5824M107	United Kingdom	07/16/03		Annual	75544	7	7	M	Directors Related	Reelect Jack Keenan as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Marks & Spencer Group PLC (formerly Marks & Spencer Plc)		G5824M107	United Kingdom	07/16/03		Annual	75544	8	8	M	Directors Related	Reelect Laurel Power-Freeling as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Marks & Spencer Group PLC (formerly Marks & Spencer Plc)		G5824M107	United Kingdom	07/16/03		Annual	75544	9	9	M	Routine/Business	Approve PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Their Remuneration	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Marks & Spencer Group PLC (formerly Marks & Spencer Plc)		G5824M107	United Kingdom	07/16/03		Annual	75544	10	10	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 189,208,626	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Marks & Spencer Group PLC (formerly Marks & Spencer Plc)		G5824M107	United Kingdom	07/16/03		Annual	75544	11	11	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 28,381,293	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Marks & Spencer Group PLC (formerly Marks & Spencer Plc)		G5824M107	United Kingdom	07/16/03		Annual	75544	12	12	M	Capitalization	Authorize 227 Million Ordinary Shares for Share Repurchase Program	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	J Sainsbury Plc		G77732108	United Kingdom	07/23/03		Annual	90400	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	J Sainsbury Plc		G77732108	United Kingdom	07/23/03		Annual	90400	2	2	M	Non-Salary Comp.	Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	J Sainsbury Plc		G77732108	United Kingdom	07/23/03		Annual	90400	3	3	M	Routine/Business	Approve Final Dividend of 11.36 Pence Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	J Sainsbury Plc		G77732108	United Kingdom	07/23/03		Annual	90400	4	4	M	Directors Related	Reelect George Bull as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	J Sainsbury Plc		G77732108	United Kingdom	07/23/03		Annual	90400	5	5	M	Directors Related	Reelect Peter Davis as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	J Sainsbury Plc		G77732108	United Kingdom	07/23/03		Annual	90400	6	6	M	Directors Related	Reelect Roger Matthews as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	J Sainsbury Plc		G77732108	United Kingdom	07/23/03		Annual	90400	7	7	M	Directors Related	Reelect Keith Butler-Wheelhouse as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	J Sainsbury Plc		G77732108	United Kingdom	07/23/03		Annual	90400	8	8	M	Directors Related	Reelect June de Moller as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	J Sainsbury Plc		G77732108	United Kingdom	07/23/03		Annual	90400	9	9	M	Routine/Business	Approve PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Their Remuneration	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	J Sainsbury Plc		G77732108	United Kingdom	07/23/03		Annual	90400	10	10	M	Capitalization	Approve Increase in Authorized Capital to GBP 700,000,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	J Sainsbury Plc		G77732108	United Kingdom	07/23/03		Annual	90400	11	11	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 161,000,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	J Sainsbury Plc		G77732108	United Kingdom	07/23/03		Annual	90400	12	12	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 24,218,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	J Sainsbury Plc		G77732108	United Kingdom	07/23/03		Annual	90400	13	13	M	Capitalization	Authorize 193,750,000 Shares for Share Repurchase Program	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	2	2	M	Non-Salary Comp.	Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	3	3	M	Directors Related	Elect Richard Lapthorne as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	4	4	M	Directors Related	Elect Francesco Caio as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	5	5	M	Directors Related	Elect Kevin Loosemore as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	6	6	M	Directors Related	Elect Robert Rowley as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	7	7	M	Directors Related	Elect Anthony Rice as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	8	8	M	Directors Related	Elect Bernhard Gray as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	9	9	M	Directors Related	Elect Graham Howe as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	10	10	M	Directors Related	Elect Kaspar Rorsted as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	11	11	M	Routine/Business	Ratify KPMG Audit Plc as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	12	12	M	Routine/Business	Authorize Board to Fix Remuneration of Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	13	13	M	Non-Salary Comp.	Approve the Cable and Wireless Employee Savings Related Share Option Scheme	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	14	14	M	Non-Salary Comp.	Approve Cable and Wireless Global Savings Related Share Option Scheme	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	15	15	M	Non-Salary Comp.	Amend Cable and Wireless Share Purchase Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	16	16	M	Routine/Business	Authorize EU Political Donations up to GBP 200,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	17	17	M	Capitalization	Approve Cancellation of Share Premium Account (Subject to Confirmation of the Court)	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	18	18	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 198,593,791.25	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Cable & Wireless Plc		G17416127	United Kingdom	07/25/03		Annual	218990	19	19	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 29,789,068.50	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Telecom Corp. Of New Zealand		Q89499109	New Zealand	010/09/03	010/08/03	Annual	87000	1	1	M	Routine/Business	Authorize Board to the Auditors' Remuneration	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Telecom Corp. Of New Zealand		Q89499109	New Zealand	010/09/03	010/08/03	Annual	87000	2	2	M	Directors Related	Elect Roderick Deane as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Telecom Corp. Of New Zealand		Q89499109	New Zealand	010/09/03	010/08/03	Annual	87000	3	3	M	Directors Related	Elect Paul Baines as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Telecom Corp. Of New Zealand		Q89499109	New Zealand	010/09/03	010/08/03	Annual	87000	4	4	M	Directors Related	Approve Remuneration of Directors in the Amount of NZD 1.5 Million Per Annum for the Directors of the Company and Its Subsidiaries	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Telecom Corp. Of New Zealand		Q89499109	New Zealand	010/09/03	010/08/03	Annual	87000	5	5	M	Directors Related	Elect Lindsay Pyne as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Telecom Corp. Of New Zealand		Q89499109	New Zealand	010/09/03	010/08/03	Annual	87000	6	6	M	Non-Salary Comp.	Approve Issuance by the Board to Theresa Gattung, Chief Executive Officer and Managing Director, During the Period to Sept. 30, 2006 of Up to 500,000 Ordinary Shares in the Company Under the Performance Incentive Scheme	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Telecom Corp. Of New Zealand		Q89499109	New Zealand	010/09/03	010/08/03	Annual	87000	7	7	M	Non-Salary Comp.	Approve Issuance by the Board to Theresa Gattung, Chief Executive and Managing Director, During the Period to Sept. 30, 2006 of Up to 1.5 Million Options in the Company Under the Performance Option Scheme	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Nordea Bank AB (formerly Nordea AB)		W57996121	Sweden	010/22/03	010/10/03	Special	113190	1	1	M	Routine/Business	Elect Chairman of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Nordea Bank AB (formerly Nordea AB)		W57996121	Sweden	010/22/03	010/10/03	Special	113190	2	2	M	Routine/Business	Prepare and Approve List of Shareholders	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Nordea Bank AB (formerly Nordea AB)		W57996121	Sweden	010/22/03	010/10/03	Special	113190	3	3	M	Routine/Business	Approve Agenda of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Nordea Bank AB (formerly Nordea AB)		W57996121	Sweden	010/22/03	010/10/03	Special	113190	4	4	M	Routine/Business	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Nordea Bank AB (formerly Nordea AB)		W57996121	Sweden	010/22/03	010/10/03	Special	113190	5	5	M	Routine/Business	Acknowledge Proper Convening of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Nordea Bank AB (formerly Nordea AB)		W57996121	Sweden	010/22/03	010/10/03	Special	113190	6	6	M	Routine/Business	Amend Articles Re: Change Company Name to Nordea Bank AB; Amend Corporate Purpose; Editorial Change	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Nordea Bank AB (formerly Nordea AB)		W57996121	Sweden	010/22/03	010/10/03	Special	113190	7	7	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports for Brambles Industries Ltd.	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	2	2	M	Routine/Business	Accept Financial Statements and Statutory Reports for Brambles Industries plc	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	3	3	M	Non-Salary Comp.	Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	4	4	M	Directors Related	Reelect Roy Brown as Director of Brambles Industries Ltd.	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	5	5	M	Directors Related	Reelect Roy Brown as Director of Brambles Industries plc	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	6	6	M	Directors Related	Reelect CK Chow as Director of Brambles Industries Ltd.	None	None
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	7	7	M	Directors Related	Reelect CK Chow as Director of Brambles Industries plc	None	None
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	8	8	M	Directors Related	Reelect David Lees as Director of Brambles Industries Ltd.	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	9	9	M	Directors Related	Reelect David Lees as Director of Brambles Industries plc	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	10	10	M	Directors Related	Reelect Ron Milne as Director of Brambles Industries Ltd.	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	11	11	M	Directors Related	Reelect Ron Milne as Director of Brambles Industries plc	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	12	12	M	Routine/Business	Ratify PricewaterhouseCoopers LLP as Auditors of Brambles Industries plc	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	13	13	M	Routine/Business	Authorize Board to Fix Remuneration of Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	14	14	M	Capitalization	Authorize Brambles Industries plc Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 8,812,882	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	15	15	M	Capitalization	Authorize Brambles Industries plc Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 1,809,355	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	16	16	M	Capitalization	Authorize 72,374,235 Shares for Brambles Industries plc Share Repurchase Program	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	17	17	M	Routine/Business	Approve Dividend Reinvestment Plan for Brambles Industries Ltd.	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	18	18	M	Routine/Business	Approve Scrip Dividend Program for Brambles Industries plc	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Brambles Industries Plc		G1307R101	United Kingdom	010/21/03		Annual	80000	19	19	M	Routine/Business	Amend Articles of Association Re: CREST	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	John Fairfax Holdings Ltd.		Q50804105	Australia	010/31/03		Annual	178850	1	1	M	Directors Related	Elect Mark Burrows as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	John Fairfax Holdings Ltd.		Q50804105	Australia	010/31/03		Annual	178850	2	2	M	Directors Related	Elect Roger Corbett as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	John Fairfax Holdings Ltd.		Q50804105	Australia	010/31/03		Annual	178850	3	3	M	Directors Related	Elect David Gonski as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	John Fairfax Holdings Ltd.		Q50804105	Australia	010/31/03		Annual	178850	4	4	M	Directors Related	Elect Margaret Jackson as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	John Fairfax Holdings Ltd.		Q50804105	Australia	010/31/03		Annual	178850	5	5	M	Directors Related	Elect Ronald Walker as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	John Fairfax Holdings Ltd.		Q50804105	Australia	010/31/03		Annual	178850	6	6	M	Capitalization	Approve Issuance of 110.25 Million Ordinary Shares for a Private Placement	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	John Fairfax Holdings Ltd.		Q50804105	Australia	010/31/03		Annual	178850	7	7	M	Capitalization	Approve the Terms of Dividend Reinvestment Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports for BHP Billiton Ltd.	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	2	2	M	Routine/Business	Accept Financial Statements and Statutory Reports for BHP Billiton Plc	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	3	3	M	Directors Related	Reelect David Brink as Director of BHP Billiton Ltd.	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	4	4	M	Directors Related	Reelect David Brink as Director of BHP Billiton Plc	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	5	5	M	Directors Related	Reelect Michael Chaney as Director of BHP Billiton Ltd.	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	6	6	M	Directors Related	Reelect Michael Chaney as Director of BHP Billiton Plc	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	7	7	M	Directors Related	Reelect Robin Renwick as Director of BHP Billiton Ltd.	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	8	8	M	Directors Related	Reelect Robin Renwick as Director of BHP Billiton Plc	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	9	9	M	Directors Related	Elect Mike Salamon as Director of BHP Billiton Ltd.	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	10	10	M	Directors Related	Elect Mike Salamon as Director of BHP Billiton Plc	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	11	11	M	Directors Related	Elect John Buchanan as Director of BHP Billiton Ltd.	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	12	12	M	Directors Related	Elect John Buchanan as Director of BHP Billiton Plc	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	13	13	M	Routine/Business	Approve KPMG Audit Plc and PricewaterhouseCoopers LLP as Joint Auditors of BHP Billiton Plc and Authorize Board to Fix Their Remuneration	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	14	14	M	Capitalization	Authorize BHP Billiton Plc Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of USD 265,926,499	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	15	15	M	Capitalization	Authorize BHP Billiton Plc Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of USD 61,703,675	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	16	16	M	Capitalization	Authorize 246,814,700 Shares for BHP Billiton Plc Share Repurchase Program	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	17	17	M	Non-Salary Comp.	Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	18	18	M	Non-Salary Comp.	Approve Grant of Deferred Shares, Options and Performance Shares to Charles Goodyear under the BHP Billiton Ltd. Group Incentive Scheme	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	BHP Billiton Plc (Formerly Billiton Plc)		G10877101	United Kingdom	010/24/03		Annual	100220	19	19	M	Non-Salary Comp.	Approve Grant of Deferred Shares, Options and Performance Shares to Mike Salamon under the BHP Billiton Plc Group Incentive Scheme	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Smiths Group Plc (Formerly Smiths Industries PLC)		G82401103	United Kingdom	11/11/03		Annual	25000	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Smiths Group Plc (Formerly Smiths Industries PLC)		G82401103	United Kingdom	11/11/03		Annual	25000	2	2	M	Non-Salary Comp.	Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Smiths Group Plc (Formerly Smiths Industries PLC)		G82401103	United Kingdom	11/11/03		Annual	25000	3	3	M	Routine/Business	Approve Final Dividend of 17.25 Pence Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Smiths Group Plc (Formerly Smiths Industries PLC)		G82401103	United Kingdom	11/11/03		Annual	25000	4	4	M	Directors Related	Reelect K Butler-Wheelhouse as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Smiths Group Plc (Formerly Smiths Industries PLC)		G82401103	United Kingdom	11/11/03		Annual	25000	5	5	M	Directors Related	Reelect J Ferrie as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Smiths Group Plc (Formerly Smiths Industries PLC)		G82401103	United Kingdom	11/11/03		Annual	25000	6	6	M	Directors Related	Reelect J Horn-Smith as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Smiths Group Plc (Formerly Smiths Industries PLC)		G82401103	United Kingdom	11/11/03		Annual	25000	7	7	M	Routine/Business	Ratify PricewaterhouseCoopers LLP as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Smiths Group Plc (Formerly Smiths Industries PLC)		G82401103	United Kingdom	11/11/03		Annual	25000	8	8	M	Routine/Business	Authorize Board to Fix Remuneration of Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Smiths Group Plc (Formerly Smiths Industries PLC)		G82401103	United Kingdom	11/11/03		Annual	25000	9	9	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 46,629,434	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Smiths Group Plc (Formerly Smiths Industries PLC)		G82401103	United Kingdom	11/11/03		Annual	25000	10	10	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 6,994,415	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	Smiths Group Plc (Formerly Smiths Industries PLC)		G82401103	United Kingdom	11/11/03		Annual	25000	11	11	M	Capitalization	Authorize 55,955,321 Shares for Share Repurchase Program	For	For
Franklin Templeton	88	Ivy International Balanced Fund	501564942x	322	TICLLC/Temple	Temple TICLLC-88G	SanPaolo Imi Spa		T8249V104	Italy	11/24/03	11/19/03	Special	25000			S
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Adidas-Salomon Ag		D0066B102	Germany	05/13/04		Annual	2100			S
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Vestas Wind System AS		5964651	Denmark	12/30/03		Special	50460	1	1	M	Reorg. and Mergers	Approve Issuance of 26.3 Million Shares in Connection with Acquisition of Neg Micon A/S	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Upm-Kymmene Oy (Formerly Kymmene Corp.)		5051252	Finland	03/24/04	03/12/04	Annual	15200	1	1.1	M	Routine/Business	Receive Financial Statements and Statutory Reports	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Upm-Kymmene Oy (Formerly Kymmene Corp.)		5051252	Finland	03/24/04	03/12/04	Annual	15200	2	1.2	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Upm-Kymmene Oy (Formerly Kymmene Corp.)		5051252	Finland	03/24/04	03/12/04	Annual	15200	3	1.3	M	Routine/Business	Approve Allocation of Income and Dividends of EUR 0.75 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Upm-Kymmene Oy (Formerly Kymmene Corp.)		5051252	Finland	03/24/04	03/12/04	Annual	15200	4	1.4	M	Directors Related	Approve Discharge of Board and President	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Upm-Kymmene Oy (Formerly Kymmene Corp.)		5051252	Finland	03/24/04	03/12/04	Annual	15200	5	1.5	M	Directors Related	Fix Number of Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Upm-Kymmene Oy (Formerly Kymmene Corp.)		5051252	Finland	03/24/04	03/12/04	Annual	15200	6	1.6	M	Directors Related	Approve Remuneration of Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Upm-Kymmene Oy (Formerly Kymmene Corp.)		5051252	Finland	03/24/04	03/12/04	Annual	15200	7	1.7	M	Directors Related	ElectDirectors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Upm-Kymmene Oy (Formerly Kymmene Corp.)		5051252	Finland	03/24/04	03/12/04	Annual	15200	8	1.8	M	Routine/Business	Appoint Auditors and Deputy Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Upm-Kymmene Oy (Formerly Kymmene Corp.)		5051252	Finland	03/24/04	03/12/04	Annual	15200	9	2	M	Capitalization	Authorize Repurchase of Up to Five Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Upm-Kymmene Oy (Formerly Kymmene Corp.)		5051252	Finland	03/24/04	03/12/04	Annual	15200	10	3	M	Capitalization	Authorize Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Upm-Kymmene Oy (Formerly Kymmene Corp.)		5051252	Finland	03/24/04	03/12/04	Annual	15200	11	4	M	Capitalization	Approve Issuance of Shares and/or Convertible Bonds Up to EUR 178 Million Nominal Value without Preemptive Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Swiss Reinsurance (Schweizerische Rueckversicherungs)		7189816	Switzerland	05/14/04		Annual	5350	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Swiss Reinsurance (Schweizerische Rueckversicherungs)		H84046137	Switzerland	05/14/04		Annual	5350	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Swiss Reinsurance (Schweizerische Rueckversicherungs)		7189816	Switzerland	05/14/04		Annual	5350	2	2	M	Directors Related	Approve Discharge of Board and Senior Management	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Swiss Reinsurance (Schweizerische Rueckversicherungs)		H84046137	Switzerland	05/14/04		Annual	5350	2	2	M	Directors Related	Approve Discharge of Board and Senior Management	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Swiss Reinsurance (Schweizerische Rueckversicherungs)		7189816	Switzerland	05/14/04		Annual	5350	3	3	M	Routine/Business	Approve Allocation of Income and Dividends of CHF 1.10 per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Swiss Reinsurance (Schweizerische Rueckversicherungs)		H84046137	Switzerland	05/14/04		Annual	5350	3	3	M	Routine/Business	Approve Allocation of Income and Dividends of CHF 1.10 per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Swiss Reinsurance (Schweizerische Rueckversicherungs)		7189816	Switzerland	05/14/04		Annual	5350	4	4	M	Capitalization	Approve Creation of CHF 2 Million Pool of Conditional Capital without Preemptive Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Swiss Reinsurance (Schweizerische Rueckversicherungs)		H84046137	Switzerland	05/14/04		Annual	5350	4	4	M	Capitalization	Approve Creation of CHF 2 Million Pool of Conditional Capital without Preemptive Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Swiss Reinsurance (Schweizerische Rueckversicherungs)		7189816	Switzerland	05/14/04		Annual	5350	5	5.1a	M	Directors Related	Reelect George Farr and Rajna Gibson as Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Swiss Reinsurance (Schweizerische Rueckversicherungs)		H84046137	Switzerland	05/14/04		Annual	5350	5	5.1a	M	Directors Related	Reelect George Farr and Rajna Gibson as Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Swiss Reinsurance (Schweizerische Rueckversicherungs)		7189816	Switzerland	05/14/04		Annual	5350	6	5.1b	M	Directors Related	Elect Kaspar Villiger as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Swiss Reinsurance (Schweizerische Rueckversicherungs)		H84046137	Switzerland	05/14/04		Annual	5350	6	5.1b	M	Directors Related	Elect Kaspar Villiger as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Swiss Reinsurance (Schweizerische Rueckversicherungs)		7189816	Switzerland	05/14/04		Annual	5350	7	5.2	M	Routine/Business	Reelect PricewaterhouseCoopers Ltd as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Swiss Reinsurance (Schweizerische Rueckversicherungs)		H84046137	Switzerland	05/14/04		Annual	5350	7	5.2	M	Routine/Business	Reelect PricewaterhouseCoopers Ltd as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nestle Sa		7123870	Switzerland	04/22/04		Annual	2400	1	1a	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nestle Sa		7123870	Switzerland	04/22/04		Annual	2400	2	1b	M	Routine/Business	Accept Consolidated Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nestle Sa		7123870	Switzerland	04/22/04		Annual	2400	3	2	M	Directors Related	Approve Discharge of Board and Senior Management	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nestle Sa		7123870	Switzerland	04/22/04		Annual	2400	4	3	M	Routine/Business	Approve Allocation of Income and Dividends of CHF 7.20 per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nestle Sa		7123870	Switzerland	04/22/04		Annual	2400	5	4a	M	Directors Related	Elect Edward George as Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nestle Sa		7123870	Switzerland	04/22/04		Annual	2400	6	4b	M	Directors Related	Elect Kaspar Villiger as Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nestle Sa		7123870	Switzerland	04/22/04		Annual	2400	7	4c	M	Directors Related	Elect Rolf Haenggi as Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nestle Sa		7123870	Switzerland	04/22/04		Annual	2400	8	4d	M	Directors Related	Elect Daniel Borel as Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nestle Sa		7123870	Switzerland	04/22/04		Annual	2400	9	4e	M	Directors Related	Elect Carolina Mueller as Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	TDC A/S (Formerly Tele Danmark)		5698790	Denmark	03/29/04		Annual	11000	1	1	M	Routine/Business	Elect Chairman of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	TDC A/S (Formerly Tele Danmark)		5698790	Denmark	03/29/04		Annual	11000	2	2	M	Routine/Business	Receive Report of Board	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	TDC A/S (Formerly Tele Danmark)		5698790	Denmark	03/29/04		Annual	11000	3	3	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	TDC A/S (Formerly Tele Danmark)		5698790	Denmark	03/29/04		Annual	11000	4	4	M	Directors Related	Approve Discharge of Management and Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	TDC A/S (Formerly Tele Danmark)		5698790	Denmark	03/29/04		Annual	11000	5	5	M	Routine/Business	Approve Allocation of Income and Dividends of DKK 12 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	TDC A/S (Formerly Tele Danmark)		5698790	Denmark	03/29/04		Annual	11000	6	6	M	Directors Related	Reelect Thorleif Krarup, Lloyd Kelley, James Callaway, Larry Boyle, Jonathan Klug, Niels Thomas Heering, Rick Moore, and Kurt Anker Nielsen as Directors; Elect Richard McCormick and William Caldwell as Deputy Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	TDC A/S (Formerly Tele Danmark)		5698790	Denmark	03/29/04		Annual	11000	7	7	M	Routine/Business	Ratify PricewaterhouseCoopers and Ernst & Young as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	TDC A/S (Formerly Tele Danmark)		5698790	Denmark	03/29/04		Annual	11000	8	8	M	Capitalization	Extend Authorization to Create DKK 108.2 Million Pool of Conditional Capital without Preemptive Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	TDC A/S (Formerly Tele Danmark)		5698790	Denmark	03/29/04		Annual	11000	9	9	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	TDC A/S (Formerly Tele Danmark)		5698790	Denmark	03/29/04		Annual	11000	10	10	M	Routine/Business	Other Business (Non-Voting)	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	1	1.1	M	Directors Related	Elect Director H.L. Beck	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	2	1.2	M	Directors Related	Elect Director C.W.D. Birchall	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	3	1.3	M	Directors Related	Elect Director G. Cisneros	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	4	1.4	M	Directors Related	Elect Director M.A. Cohen	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	5	1.5	M	Directors Related	Elect Director P.A. Crossgrove	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	6	1.6	M	Directors Related	Elect Director P.C. Godsoe	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	7	1.7	M	Directors Related	Elect Director A.A. Macnaughton	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	8	1.8	M	Directors Related	Elect Director B. Mulroney	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	9	1.9	M	Directors Related	Elect Director A. Munk	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	10	1.10	M	Directors Related	Elect Director P. Munk	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	11	1.11	M	Directors Related	Elect Director J.L. Rotman	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	12	1.12	M	Directors Related	Elect Director J.E. Thompson	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	13	1.13	M	Directors Related	Elect Director G.C. Wilkins	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	14	2	M	Routine/Business	Ratify PricewaterhouseCoopers LLP as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Barrick Gold Corp.	ABX.	2024644	Canada	04/22/04	03/04/04	Annual/ Special	35800	15	3	M	Non-Salary Comp.	Approve Stock Option Plan (2004) up to 16 Million Common Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Stora Enso Oyj (Formerly Enso Oy)		5072673	Finland	03/18/04	03/08/04	Annual	35050	1	1.1	M	Routine/Business	Receive Financial Statements	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Stora Enso Oyj (Formerly Enso Oy)		5072673	Finland	03/18/04	03/08/04	Annual	35050	2	1.2	M	Routine/Business	Receive Auditors' Report	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Stora Enso Oyj (Formerly Enso Oy)		5072673	Finland	03/18/04	03/08/04	Annual	35050	3	1.3	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Stora Enso Oyj (Formerly Enso Oy)		5072673	Finland	03/18/04	03/08/04	Annual	35050	4	1.4	M	Routine/Business	Approve Allocation of Income and Dividends of EUR 0.45 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Stora Enso Oyj (Formerly Enso Oy)		5072673	Finland	03/18/04	03/08/04	Annual	35050	5	1.5	M	Directors Related	Approve Discharge of Board and President	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Stora Enso Oyj (Formerly Enso Oy)		5072673	Finland	03/18/04	03/08/04	Annual	35050	6	1.6	M	Directors Related	Fix Number of Directors at 11	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Stora Enso Oyj (Formerly Enso Oy)		5072673	Finland	03/18/04	03/08/04	Annual	35050	7	1.7	M	Routine/Business	Fix Number of Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Stora Enso Oyj (Formerly Enso Oy)		5072673	Finland	03/18/04	03/08/04	Annual	35050	8	1.8	M	Routine/Business	Approve Remuneration of Directors and Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Stora Enso Oyj (Formerly Enso Oy)		5072673	Finland	03/18/04	03/08/04	Annual	35050	9	1.9	M	Directors Related	Reelect Krister Ahlstroem, Claes Dahlbaeck, Harald Einsmann, Bjoern Haegglund, Jukka Haermaelae, Barbara Kux, Ilkka Niemi, Paavo Pitkaenen, Jan Sjoeqvist, and Marcus Wallenberg; Elect Lee Chaden as New Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Stora Enso Oyj (Formerly Enso Oy)		5072673	Finland	03/18/04	03/08/04	Annual	35050	10	1.10	M	Routine/Business	Ratify PricewaterhouseCoopers as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Stora Enso Oyj (Formerly Enso Oy)		5072673	Finland	03/18/04	03/08/04	Annual	35050	11	2	M	Capitalization	Approve EUR 76.3 Million Reduction in Share Capital via Share Cancellation	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Stora Enso Oyj (Formerly Enso Oy)		5072673	Finland	03/18/04	03/08/04	Annual	35050	12	3	M	Capitalization	Authorize Repurchase of Up to Five Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Stora Enso Oyj (Formerly Enso Oy)		5072673	Finland	03/18/04	03/08/04	Annual	35050	13	4	M	Capitalization	Authorize Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	1	1	M	Routine/Business	Open Meeting	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	2	2	M	Routine/Business	Elect Chairman of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	3	3	M	Routine/Business	Prepare and Approve List of Shareholders	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	4	4	M	Routine/Business	Approve Agenda of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	5	5	M	Routine/Business	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	6	6	M	Routine/Business	Acknowledge Proper Convening of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	7	7	M	Routine/Business	Receive Financial Statements and Statutory Reports; Receive President's Report	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	8	8	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	9	9	M	Routine/Business	Approve Allocation of Income and Dividends of SEK 5.75 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	10	10	M	Directors Related	Approve Discharge of Board and President	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	11	11	M	Directors Related	Determine Number of Members (9) and Deputy Members (0) of Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	12	12	M	Directors Related	Approve Remuneration of Directors in the Aggregate Amount of SEK 5.8 Million	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	13	13	M	Directors Related	Reelect Bo Forslund, Ulrika Francke, Thomas Johansson, Goeran Johnsson, Birgitta Klasen, Marianne Qvick Stoltz, Carl Eric Staalberg, Lennart Sunden, and Anders Sundstroem as Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	14	14	M	Routine/Business	Approve Remuneration of Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	15	15.1	M	Routine/Business	Reelect Thomas Halvorsen, Lorentz Andersson, Bengt Eriksson, Eva Karin Hempel, and Per-Goeran Nyberg as Members of Nominating Committee; Elect Tomas Nicolin as New Member of Nominating Committee	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	16	15.2	M	Routine/Business	Receive Remuneration Committee Report	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	17	15.3	M	Routine/Business	Receive Audit Committee Report	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	18	16	M	Capitalization	Authorize Repurchase of up to Five Percent of Issued Share Capital for Equity Trading Purposes	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	19	17	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital for Purposes Other Than Equity Trading	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	21	18	S	SH-Routine/Business	Shareholder Proposal: Donate One to Two Percent of Net Profit to Charitable Organizations, Including Salvation Army	None	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	23	19	M	Routine/Business	Other Business (Non-Voting)	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Foerenings Sparbanken AB		4846523	Sweden	04/22/04	04/08/04	Annual	24300	24	20	M	Routine/Business	Close Meeting	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	1	1	M	Routine/Business	Open Meeting	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	2	2.1	M	Routine/Business	Receive Reports of Management and Supervisory Boards	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	3	2.2	M	Routine/Business	Receive Explanation of Reserves and Dividend Policy	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	4	3.1	M	Routine/Business	Approve Financial Statements of 2003	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	5	3.2	M	Routine/Business	Approve Dividends	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	6	4	M	Routine/Business	Ratify Ernst & Young Accountants as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	7	5.1	M	Directors Related	Approve Discharge of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	8	5.2	M	Directors Related	Approve Discharge of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	9	6	M	Routine/Business	Discussion about Company's Corporate Governance Report	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	10	7.1	M	Directors Related	Approve Remuneration Policy of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	11	7.2	M	Non-Salary Comp.	Approve Long-Term Incentive Plan (50 Percent Stock Options and 50 Percent Performance Shares)	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	12	8	M	Routine/Business	Amend Articles Re: Binding Director Nominations; Establish Profile on Expertise and Ethical Standards for Directors; Approve Remuneration Policy for Management Board; Threshold for Submitting Shareholder Proposals; Reduce Par Value of B Preference Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	13	9.1	M	Directors Related	Elect E. Boyer de la Giroday as New Member of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	14	9.2	M	Directors Related	Elect E. Leenaars as New Member of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	15	9.3	M	Directors Related	Elect H. Verkoren as New Member of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	16	10	M	Directors Related	Elect E. Bourdais de Charbonniere as New Member of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	17	11	M	Capitalization	Grant Board Authority to Issue Ordinary Shares Restricting/Excluding Preemptive Rights Up to 20 Percent of Issued Capital and All Authorized Yet Unissued B Preference Shares Restricting/Excluding Preemptive Rights	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	18	12	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ING Groep NV		7154182	Netherlands	04/27/04	04/20/04	Annual	27960	19	13	M	Routine/Business	Other Business	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Vestas Wind System AS		5964651	Denmark	04/21/04	03/25/04	Annual	50460	1	1	M	Routine/Business	Receive Report of Board	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Vestas Wind System AS		5964651	Denmark	04/21/04	03/25/04	Annual	50460	2	2	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Vestas Wind System AS		5964651	Denmark	04/21/04	03/25/04	Annual	50460	3	3	M	Routine/Business	Approve Allocation of Income and Omission of Dividends	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Vestas Wind System AS		5964651	Denmark	04/21/04	03/25/04	Annual	50460	4	4	M	Directors Related	Approve Discharge of Management and Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Vestas Wind System AS		5964651	Denmark	04/21/04	03/25/04	Annual	50460	5	5	M	Directors Related	Reelect Bent Carlsen, Arne Pedersen, Joergen Rasmussen, Torsten Rasmussen as Directors; Elect Joern Thomsen and Freddy Frandsen as New Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Vestas Wind System AS		5964651	Denmark	04/21/04	03/25/04	Annual	50460	6	6	M	Routine/Business	Ratify PricewaterhouseCoopers and KPMG C. Jespersen as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Vestas Wind System AS		5964651	Denmark	04/21/04	03/25/04	Annual	50460	7	7.1	M	Routine/Business	Change Location of Registered Office to Municipality of Randers	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Vestas Wind System AS		5964651	Denmark	04/21/04	03/25/04	Annual	50460	8	7.2	M	Capitalization	Extend Authorization to Create DKK 10.3 Million Pool of Conditional Capital without Preemptive Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Vestas Wind System AS		5964651	Denmark	04/21/04	03/25/04	Annual	50460	9	7.3	M	Capitalization	Approve Creation of DKK 45 Million Pool of Conditional Capital with Preemptive Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Vestas Wind System AS		5964651	Denmark	04/21/04	03/25/04	Annual	50460	10	7.4	M	Non-Salary Comp.	Decrease Pool of Conditional Capital Reserved For Warrants Program for Key Employees From DKK 293,667 to DKK 170,332 Due to Unexercised Warrants	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Vestas Wind System AS		5964651	Denmark	04/21/04	03/25/04	Annual	50460	11	7.5	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Vestas Wind System AS		5964651	Denmark	04/21/04	03/25/04	Annual	50460	12	8	M	Routine/Business	Other Business (Non-Voting)	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Telenor ASA		R89923107	Norway	05/06/04		Annual	68300	1	1	M	Routine/Business	Approve Notice of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Telenor ASA		R89923107	Norway	05/06/04		Annual	68300	2	2	M	Routine/Business	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Telenor ASA		R89923107	Norway	05/06/04		Annual	68300	3	3	M	Routine/Business	Approve Financial Statements, Allocation of Income and Dividends of NOK 1 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Telenor ASA		R89923107	Norway	05/06/04		Annual	68300	4	4	M	Routine/Business	Approve Remuneration of Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Telenor ASA		R89923107	Norway	05/06/04		Annual	68300	5	5	M	Capitalization	Approve NOK 332.7 Million Reduction in Share Capital via Share Cancellation; Approve Repurchase of 14.5 Million Shares from the Kingdom of Norway; Approve Transfer of NOK 543.4 Million from Share Premium Reserve to Other Equity	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Telenor ASA		R89923107	Norway	05/06/04		Annual	68300	6	6.1	M	Capitalization	Approve Creation of NOK 524.8 Million Pool of Conditional Capital without Preemptive Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Telenor ASA		R89923107	Norway	05/06/04		Annual	68300	7	6.2	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Metso Corporation (Formerly Valmet-Rauma Corporation)		5713422	Finland	04/06/04	03/26/04	Annual	21000	1	1.1	M	Routine/Business	Receive Financial Statements	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Metso Corporation (Formerly Valmet-Rauma Corporation)		5713422	Finland	04/06/04	03/26/04	Annual	21000	2	1.2	M	Routine/Business	Receive Auditor's Report	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Metso Corporation (Formerly Valmet-Rauma Corporation)		5713422	Finland	04/06/04	03/26/04	Annual	21000	3	1.3	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Metso Corporation (Formerly Valmet-Rauma Corporation)		5713422	Finland	04/06/04	03/26/04	Annual	21000	4	1.4	M	Routine/Business	Approve Allocation of Income and Dividends of EUR 0.20 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Metso Corporation (Formerly Valmet-Rauma Corporation)		5713422	Finland	04/06/04	03/26/04	Annual	21000	5	1.5	M	Directors Related	Approve Discharge of Board and President	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Metso Corporation (Formerly Valmet-Rauma Corporation)		5713422	Finland	04/06/04	03/26/04	Annual	21000	6	1.6	M	Directors Related	Fix Number of Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Metso Corporation (Formerly Valmet-Rauma Corporation)		5713422	Finland	04/06/04	03/26/04	Annual	21000	7	1.7	M	Routine/Business	Approve Remuneration of Directors and Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Metso Corporation (Formerly Valmet-Rauma Corporation)		5713422	Finland	04/06/04	03/26/04	Annual	21000	8	1.8	M	Directors Related	Elect Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Metso Corporation (Formerly Valmet-Rauma Corporation)		5713422	Finland	04/06/04	03/26/04	Annual	21000	9	1.9	M	Routine/Business	Ratify Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Metso Corporation (Formerly Valmet-Rauma Corporation)		5713422	Finland	04/06/04	03/26/04	Annual	21000	10	2	M	Capitalization	Authorize Repurchase of Up to Five Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Metso Corporation (Formerly Valmet-Rauma Corporation)		5713422	Finland	04/06/04	03/26/04	Annual	21000	11	3	M	Capitalization	Authorize Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Metso Corporation (Formerly Valmet-Rauma Corporation)		5713422	Finland	04/06/04	03/26/04	Annual	21000	12	4	M	Capitalization	Approve Issuance of Shares, Convertible Bonds, or Stock Options without Preemptive Rights; Reserve 12.5 Million Shares for Issuance	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	1	1	M	Routine/Business	Open Meeting	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	2	2.1	M	Routine/Business	Approve Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	3	2.2	M	Routine/Business	Receive Explanation of Corporate Governance Structure	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	4	2.3	M	Routine/Business	Receive Explanation of Policy on Reserves and Dividends	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	5	2.4	M	Routine/Business	Approve Dividends of EUR 0.36 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	6	2.5	M	Directors Related	Approve Discharge of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	7	2.6	M	Directors Related	Approve Discharge of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	8	3.1	M	Directors Related	Reelect Elect K. van Miert to Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	9	3.2	M	Directors Related	Elect E. Kist as New Member of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	10	4.1	M	Routine/Business	Approve Remuneration Policy of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	11	4.2	M	Non-Salary Comp.	Amend 2003 Long-Term Incentive Plan Regarding Distribution of Shares: Allocate a Maximum of 2.5 Percent of Annual Pool of Shares Reserved for LTIP to Management Board on Annual Basis	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	12	5	M	Capitalization	Grant Board Authority to Issue Shares Restricting/Excluding Preemptive Rights Up to 20 Percent of Issued Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	13	6	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	14	7	M	Routine/Business	Authorize Board to Set Record Date	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	15	8	M	Routine/Business	Other Business (Non-Voting)	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Philips Electronics Nv		5986622	Netherlands	03/25/04		Annual	21100	16	9	M	Routine/Business	Close Meeting	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	1	1	M	Routine/Business	Open Meeting	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	2	2	M	Routine/Business	Receive Report of Management Board	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	3	3.1	M	Routine/Business	Approve Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	4	3.2	M	Routine/Business	Approve Dividends	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	5	4.1	M	Directors Related	Approve Discharge of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	6	4.2	M	Directors Related	Approve Discharge of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	7	5	M	Routine/Business	Discussion about Company's Corporate Governance Policy	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	8	6.1	M	Non-Salary Comp.	Approve Stock Option Plan for Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	9	6.2	M	Non-Salary Comp.	Approve Restricted Stock Plan for Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	10	6.3	M	Non-Salary Comp.	Approve Executive Stock Option Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	11	6.4	M	Routine/Business	Approve Maximum Number of Shares for LTIP	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	12	7	M	Directors Related	Elect Members of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	13	8.1	M	Directors Related	Fix Number of Members of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	14	8.2	M	Directors Related	Elect Members of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	15	9	M	Routine/Business	Authorize Board to Prepare Financial Statements in English	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	16	10	M	Capitalization	Grant Board Authority to Issue Authorized Yet Unissued Shares Restricting/Excluding Preemptive Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	17	11	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Akzo-Nobel Nv		5458314	Netherlands	04/22/04		Annual	12180	18	12	M	Routine/Business	Other Business (Non-Voting)	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	2	1	M	Routine/Business	Approve Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	3	2	M	Routine/Business	Accept Consolidated Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	4	3	M	Routine/Business	Approve Allocation of Income and Dividends of EUR 0.57 per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	5	4	M	Routine/Business	Approve Special Auditors' Report Regarding Related-Party Transactions	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	6	5	M	Directors Related	Reelect Claude Bebear as Supervisory Board Member	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	7	6	M	Routine/Business	Ratify Mazars & Guerard as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	8	7	M	Routine/Business	Ratify Jean Louis Simon as Alternate Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	9	8	M	Directors Related	Elect Willy Avereyn as Representative of Employee Shareholders to the Supervisory Board, Pending Approval of Item 13	None	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	10	9	M	Directors Related	Elect Cees de Jong as Representative of Employee Shareholders to the Supervisory Board, Pending Approval of Item 13	None	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	11	10	M	Directors Related	Elect Jacques Tabourot as Representative of Employee Shareholders to the Supervisory Board, Pending Approval of Item 13	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	12	11	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	14	12	M	Antitakeover Related	Allow Board to Issue Shares in the Event of a Public Tender Offer or Share Exchange Offer	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	15	13	M	Directors Related	Amend Article 10 Re: Appointment of Representative of Employee Shareholders to the Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	16	14	M	Directors Related	Amend Article 10 Re: Appointment of Employee Representative to the Supervisory Board	Against	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	17	15	M	Capitalization	Approve Reduction in Share Capital via Cancellation of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Axa (Formerly Axa-Uap)		7088429	France	04/21/04		Annual/ Special	33130	18	16	M	Routine/Business	Authorize Filing of Required Documents/Other Formalities	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	1	1	M	Routine/Business	Open Meeting	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	2	2.1	M	Routine/Business	Receive Report of Management Board	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	3	2.2	M	Routine/Business	Receive Report of Supervisory Board	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	4	2.3	M	Routine/Business	Approve Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	5	2.4	M	Routine/Business	Approve Allocation of Income and Dividends of EUR 0.55 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	6	3	M	Routine/Business	Discussion about Company's Corporate Governance Report	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	7	4.1	M	Directors Related	Approve Discharge of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	8	4.2	M	Directors Related	Approve Discharge of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	9	5.1	M	Directors Related	Reelect K. van Miert to Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	10	5.2	M	Directors Related	Elect H. Scheffers to Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	11	6.1	M		Approve Remuneration Policy for Management Board Members	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	12	6.2	M	Non-Salary Comp.	Approve Long-Term Incentive Plan for Management Board Members	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	13	7	M	Capitalization	Grant Board Authority to Issue Up to 20 Percent of the Authorized Yet Unissued Shares Restricting/Excluding Preemptive Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	14	8	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	15	9	M	Routine/Business	Other Business	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Wolters Kluwer Nv		5671519	Netherlands	04/21/04		Annual	34000	16	10	M	Routine/Business	Close Meeting	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	1	1	M	Routine/Business	Open Meeting	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	2	2	M	Routine/Business	Documents Received	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	3	3	M	Routine/Business	Receive Report of Management Board	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	4	4	M	Routine/Business	Approve Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	5	5	M	Routine/Business	Approve Dividends of EUR 0.30 per Ordinary Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	6	6	M	Routine/Business	Discussion about Company's Corporate Governance Report	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	7	7.1	M	Directors Related	Approve Discharge of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	8	7.2	M	Directors Related	Approve Discharge of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	9	8	M	Routine/Business	Reelect Deloitte Accountants as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	10	9.1	M	Directors Related	Reelect Lord Sharman as Member of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	11	9.2	M	Directors Related	Reelect R. Stomberg as Member of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	12	9.3	M	Directors Related	Reelect M. Tabaksblat as Member of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	13	10	M	Directors Related	Reelect G. van de Aast as Member of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	14	11	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	15	12.1	M	Capitalization	Grant Board Authority to Issue Shares Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	16	12.2	M	Capitalization	Grant Board Authority to Restrict/Exclude Preemptive Rights for Share Issuance under Item 12.1	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	17	13	M	Routine/Business	Other Business	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Reed Elsevier NV (Formerly Elsevier Nv)		4148810	Netherlands	04/29/04	04/22/04	Annual	36300	18	14	M	Routine/Business	Close Meeting	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	1	1	M	Routine/Business	Open Meeting	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	2	2	M	Routine/Business	Elect Chairman of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	3	3	M	Routine/Business	Prepare and Approve List of Shareholders	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	4	4	M	Routine/Business	Approve Agenda of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	5	5	M	Routine/Business	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	6	6	M	Routine/Business	Acknowledge Proper Convening of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	7	7	M	Routine/Business	Receive President's Report	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	8	8	M	Routine/Business	Receive Financial Statements and Statutory Reports	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	9	9.1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	10	9.2	M	Routine/Business	Approve Allocation of Income and Dividends of SEK 2 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	11	9.3	M	Routine/Business	Approve Record Date (April 13, 2004) for Dividend	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	12	9.4	M	Directors Related	Approve Discharge of Board and President	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	13	10	M	Directors Related	Determine Number of Members (8) and Deputy Members (0) of Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	14	11	M	Routine/Business	Approve Remuneration of Directors in the Aggregate Amount of SEK 3 Million; Approve Remuneration of Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	15	12	M	Directors Related	Reelect Thomas Berglund, Annika Bolin, Carl Douglas, Gustaf Douglas, Anders Frick, Berthold Lindqvist, Fredrik Palmstierna, and Melker Schoerling as Directors; Ratify PricewaterhouseCoopers AB as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	17	13.1	S	SH-Dirs' Related	Shareholder Proposal: Authorize General Meeting to Elect Members of Nominating Committee	Against	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	19	13.2	M	Routine/Business	Reelect Gustaf Douglas and Melker Schoerling as Members of Nominating Committee	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Securitas AB		5554041	Sweden	04/06/04	03/26/04	Annual	43600	20	14	M	Routine/Business	Close Meeting	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bank Of East Asia, Limited		6075648	Hong Kong	03/31/04		Annual	121800	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bank Of East Asia, Limited		6075648	Hong Kong	03/31/04		Annual	121800	2	2	M	Routine/Business	Approve Final Dividend of HK$0.62 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bank Of East Asia, Limited		6075648	Hong Kong	03/31/04		Annual	121800	3	3a	M	Directors Related	Reelect Aubrey Li Kwok-sing as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bank Of East Asia, Limited		6075648	Hong Kong	03/31/04		Annual	121800	4	3b	M	Directors Related	Reelect Winston Lo Yau-lai as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bank Of East Asia, Limited		6075648	Hong Kong	03/31/04		Annual	121800	5	3c	M	Directors Related	Reelect Khoo Kay-peng as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bank Of East Asia, Limited		6075648	Hong Kong	03/31/04		Annual	121800	6	3d	M	Directors Related	Reelect David Li Kwok-po as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bank Of East Asia, Limited		6075648	Hong Kong	03/31/04		Annual	121800	7	4	M	Routine/Business	Reappoint KPMG as Auditors and Authorize Board to Fix Their Remuneration	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bank Of East Asia, Limited		6075648	Hong Kong	03/31/04		Annual	121800	8	5	M	Routine/Business	Amend Articles of the Association	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bank Of East Asia, Limited		6075648	Hong Kong	03/31/04		Annual	121800	9	6	M	Capitalization	Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bank Of East Asia, Limited		6075648	Hong Kong	03/31/04		Annual	121800	10	7	M	Capitalization	Approve Repurchase of Up to 10 Percent of Issued Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bank Of East Asia, Limited		6075648	Hong Kong	03/31/04		Annual	121800	11	8	M	Capitalization	Authorize Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sampo Oyj (Formerly Sampo-Leonia Insurance Co.		5226038	Finland	04/07/04	03/26/04	Annual	40525	1	1.1	M	Routine/Business	Receive Financial Statements and Statutory Reports	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sampo Oyj (Formerly Sampo-Leonia Insurance Co.		5226038	Finland	04/07/04	03/26/04	Annual	40525	2	1.2	M	Routine/Business	Receive Auditor's Report	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sampo Oyj (Formerly Sampo-Leonia Insurance Co.		5226038	Finland	04/07/04	03/26/04	Annual	40525	3	1.3	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sampo Oyj (Formerly Sampo-Leonia Insurance Co.		5226038	Finland	04/07/04	03/26/04	Annual	40525	4	1.4	M	Routine/Business	Approve Allocation of Income and Dividends of EUR 1.50 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sampo Oyj (Formerly Sampo-Leonia Insurance Co.		5226038	Finland	04/07/04	03/26/04	Annual	40525	5	1.5	M	Directors Related	Approve Discharge of Board and President	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sampo Oyj (Formerly Sampo-Leonia Insurance Co.		5226038	Finland	04/07/04	03/26/04	Annual	40525	6	1.6	M	Directors Related	Fix Number of Directors at Eight; Approve Remuneration of Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sampo Oyj (Formerly Sampo-Leonia Insurance Co.		5226038	Finland	04/07/04	03/26/04	Annual	40525	7	1.7	M	Routine/Business	Fix Number of Auditors; Approve Remuneration of Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sampo Oyj (Formerly Sampo-Leonia Insurance Co.		5226038	Finland	04/07/04	03/26/04	Annual	40525	8	1.8	M	Directors Related	Reelect Tom Berglund, Anne Brunila, Georg Ehrnrooth, Jyrki Juusela, Olli-Pekka Kallasvuo, Christoffer Taxell, and Bjoern Wahlroos as Directors; Elect Matti Vuoria as New Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sampo Oyj (Formerly Sampo-Leonia Insurance Co.		5226038	Finland	04/07/04	03/26/04	Annual	40525	9	1.9	M	Routine/Business	Appoint Ernst & Young Oy as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sampo Oyj (Formerly Sampo-Leonia Insurance Co.		5226038	Finland	04/07/04	03/26/04	Annual	40525	10	2	M	Capitalization	Authorize Repurchase of Up to Five Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sampo Oyj (Formerly Sampo-Leonia Insurance Co.		5226038	Finland	04/07/04	03/26/04	Annual	40525	11	3	M	Capitalization	Authorize Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Eni Spa		T3643A145	Italy	05/25/04	05/20/04	Annual/ Special	30300			S
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		5069211	Germany	04/30/04		Annual	15000	1	1	M	Routine/Business	Receive Financial Statements, Statutory Reports, and Board Reports; Approve Allocation of Income and Dividends of EUR 0.50 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		D07112119	Germany	04/30/04		Annual	15000	1	1	M	Routine/Business	Receive Financial Statements, Statutory Reports, and Board Reports; Approve Allocation of Income and Dividends of EUR 0.50 Per Share	For	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		5069211	Germany	04/30/04		Annual	15000	2	2	M	Directors Related	Approve Discharge of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		D07112119	Germany	04/30/04		Annual	15000	2	2	M	Directors Related	Approve Discharge of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		5069211	Germany	04/30/04		Annual	15000	3	3	M	Directors Related	Approve Discharge of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		D07112119	Germany	04/30/04		Annual	15000	3	3	M	Directors Related	Approve Discharge of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		5069211	Germany	04/30/04		Annual	15000	4	4	M	Capitalization	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 4 Billion with Preemptive Rights; Approve Creation of EUR 186.9 Million Pool of Conditional Capital to Guarantee Conversion Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		D07112119	Germany	04/30/04		Annual	15000	4	4	M	Capitalization	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 4 Billion with Preemptive Rights; Approve Creation of EUR 186.9 Million Pool of Conditional Capital to Guarantee Conversion Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		5069211	Germany	04/30/04		Annual	15000	5	5	M	Capitalization	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		D07112119	Germany	04/30/04		Annual	15000	5	5	M	Capitalization	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		5069211	Germany	04/30/04		Annual	15000	6	6	M	Reorg. and Mergers	Approve Restructuring Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		D07112119	Germany	04/30/04		Annual	15000	6	6	M	Reorg. and Mergers	Approve Restructuring Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		5069211	Germany	04/30/04		Annual	15000	7	7	M	Reorg. and Mergers	Approve Affiliation Agreements with Subsidiaries	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		D07112119	Germany	04/30/04		Annual	15000	7	7	M	Reorg. and Mergers	Approve Affiliation Agreements with Subsidiaries	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		5069211	Germany	04/30/04		Annual	15000	8	8	M	Directors Related	Amend Articles Re: Renumeration of Supervisory Board Members	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		D07112119	Germany	04/30/04		Annual	15000	8	8	M	Directors Related	Amend Articles Re: Renumeration of Supervisory Board Members	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		5069211	Germany	04/30/04		Annual	15000	9	9	M	Routine/Business	Ratify PWC Deutsche Revision AG as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Bayer Ag		D07112119	Germany	04/30/04		Annual	15000	9	9	M	Routine/Business	Ratify PWC Deutsche Revision AG as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	HUSKY ENERGY INC	HSE.	2623836	Canada	04/22/04	03/17/04	Annual	26750	1	1	M	Directors Related	Elect Victor Li, Canning Fok, Donald Fullerton, Martin Glynn, Terence Hui, Brent Kinney, Holger Kluge, Poh Chan Koh, Eva Kwok, Stanley Kwok, John Lau, Wayne Shaw, William Shurniak and Frank Sixt as Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	HUSKY ENERGY INC	HSE.	2623836	Canada	04/22/04	03/17/04	Annual	26750	2	2	M	Routine/Business	Appoint KPMG LLP as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	1	1	M	Routine/Business	Open Meeting; Elect Chairman of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	2	2	M	Routine/Business	Prepare and Approve List of Shareholders	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	3	3	M	Routine/Business	Approve Agenda of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	4	4	M	Routine/Business	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	5	5	M	Routine/Business	Acknowledge Proper Convening of Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	6	6	M	Routine/Business	Receive Financial Statements and Statutory Reports	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	7	7	M	Routine/Business	Receive President's Report	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	8	8	M	Routine/Business	Receive Board and Committee Reports	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	9	9.1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	10	9.2	M	Directors Related	Approve Discharge of Board and President	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	11	9.3	M	Routine/Business	Approve Allocation of Income and Dividends of SEK 7.50 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	12	9.4	M	Routine/Business	Approve Record Date (April 30) for Dividend	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	13	10	M	Directors Related	Determine Number of Members (9) and Deputy Members (0) of Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	14	11	M	Directors Related	Reelect Sune Carlsson, Jacob Wallenberg, Gunnar Brock, Staffan Boman, Kurt Hellstroem, Thomas Leysen, Ulla Litzen, and Anders Ullberg as Directors; Elect Grace Reksten Skaugen as New Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	15	12	M	Directors Related	Approve Remuneration of Directors in the Aggregate Amount of SEK 3 Million; Approve Remuneration of SEK 500,000 for Committee Work	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	16	13	M	Non-Salary Comp.	Approve Stock Option and Stock Appreciation Rights Plan for Key Employees; Approve Reissuance of 950,000 Repurchased Shares to Guarantee Conversion Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	18	14.1	S	SH-Routine/Business	Shareholder Proposal: Approve Unification of Capital Structure without Compensation to Class A Shareholders	Against	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	19	14.2	S	SH-Routine/Business	Shareholder Proposal: Approve (Voluntary) Conversion of Class B Shares into Class A Shares	Against	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	20	15.1	S	SH-Dirs' Related	Shareholder Proposal: Authorize General Meeting to Elect Members of Nominating Committee	Against	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	22	15.2	M	Routine/Business	Authorize Chairman of Board to Appoint Four Representatives of Company's Largest Shareholders to Serve on Nominating Committee	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Atlas Copco Ab		4050971	Sweden	04/27/04	04/16/04	Annual	14600	23	16	M	Routine/Business	Close Meeting	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iberdrola S.A.		4424640	Spain	04/02/04		Annual	26772	1	1	M	Routine/Business	Approve Financial Statements, Allocation of Income and Dividends, and Discharge Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iberdrola S.A.		4424640	Spain	04/02/04		Annual	26772	2	2	M	Routine/Business	Adopt New Articles of Association	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iberdrola S.A.		4424640	Spain	04/02/04		Annual	26772	3	3	M	Routine/Business	Approve General Meeting Guidelines; Information on Board Guidelines	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iberdrola S.A.		4424640	Spain	04/02/04		Annual	26772	4	4	M	Reorg. and Mergers	Approve Merger by Absorption of Subsidiaries Iberdrola Gas S.A. and Star 21 Networks Espana, S.A.	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iberdrola S.A.		4424640	Spain	04/02/04		Annual	26772	5	5	M	Capitalization	Authorize Issuance of Convertible Bonds and/or Warrants without Preemptive Rights with a Maximum Limit of EUR 1 Billion	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iberdrola S.A.		4424640	Spain	04/02/04		Annual	26772	6	6	M	Capitalization	Authorize Issuance of Convertible Bonds and/or Warrants with Preemptive Rights with a Maximum Limit of EUR 1 Billion	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iberdrola S.A.		4424640	Spain	04/02/04		Annual	26772	7	7	M	Capitalization	Authorize Issuance of Bonds/Debentures up to Aggregate Nominal Amount of EUR 1.2 Billion, or EUR 1.5 Billion in the Case of Debentures	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iberdrola S.A.		4424640	Spain	04/02/04		Annual	26772	8	8	M	Capitalization	Authorize Repurchase of Shares and Reduce Capital Via Cancellation of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iberdrola S.A.		4424640	Spain	04/02/04		Annual	26772	9	9	M	Routine/Business	Approve Listing of Shares on Secondary Exchanges in Spain or Overseas	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iberdrola S.A.		4424640	Spain	04/02/04		Annual	26772	10	10	M	Routine/Business	Approve Creation of Foundations	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iberdrola S.A.		4424640	Spain	04/02/04		Annual	26772	11	11	M	Routine/Business	Approve Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iberdrola S.A.		4424640	Spain	04/02/04		Annual	26772	12	12	M	Directors Related	Ratify Appointment of Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iberdrola S.A.		4424640	Spain	04/02/04		Annual	26772	13	13	M	Routine/Business	Authorize Board to Ratify and Execute Approved Resolutions	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	2	2a	M	Routine/Business	Approve Final Dividend of HK$0.65 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	3	2b	M	Routine/Business	Approve Special Final Dividend of HK$0.10 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	4	3a	M	Directors Related	Reelect Vernon Francis Moore as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	5	3b	M	Directors Related	Reelect Rudolf Bischof as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	6	3c	M	Directors Related	Reelect Loh Chung Hon, Hansen as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	7	3d	M	Directors Related	Reelect William Elkin Mocatta as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	8	3e	M	Directors Related	Reelect Lee Yui Bor as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	9	4	M	Routine/Business	Reappoint PricewaterhouseCoopers as Auditors and Authorize Board to Fix Their Remuneration	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	10	5	M	Routine/Business	Amend Articles Re: Recognized Clearing House, Appointment of Chairman or Managing Director, and Addition of Technical Definitions	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	11	6	M	Directors Related	Approve Rotation and Eventual Reelection of Executive Directors Holding Office of Not More Than Three Years	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	12	7	M	Directors Related	Reelect Tse Pak Wing, Peter as Executive Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	13	8a	M	Directors Related	Approve Remuneration of Chairman, Vice Chairmen and Non-Executive Directors Amounting to HK$280,000, HK$220,000 and HK$200,000 Respectively	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	14	8b	M	Directors Related	Approve Remuneration of Non-Executive Directors Serving on Different Board Committees of the Company	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	15	9	M	Capitalization	Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	16	10	M	Capitalization	Approve Repurchase of Up to 10 Percent of Issued Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Clp Holdings (Formerly China Light & Power)		6097017	Hong Kong	04/22/04		Annual	95000	17	11	M	Capitalization	Authorize Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	2	2	M	Routine/Business	Approve Final Dividend of 8.35 Pence Per Ordinary Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	3	3	M		Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	4	4	M	Directors Related	Re-elect John Sunderland as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	5	5	M	Directors Related	Elect Ken Hanna as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	6	6	M	Directors Related	Re-elect Rick Braddock as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	7	7	M	Directors Related	Re-elect Roger Carr as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	8	8	M	Directors Related	Re-elect David Thompson as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	9	9	M	Routine/Business	Re-appoint Deloitte and Touche LLP as Auditors of the Company	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	10	10	M	Routine/Business	Authorise Board to Fix Remuneration of the Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	11	11	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 85.27 Million	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	12	12	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 12.92 Million	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	13	13	M	Capitalization	Authorise 25.84 Million Ordinary Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	14	14	M	Non-Salary Comp.	Amend Cadbury Schweppes Share Option Plan 1994	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	15	15	M	Non-Salary Comp.	Amend Cadbury Schweppes plc 1997 Long-Term Incentive Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	16	16	M	Non-Salary Comp.	Approve Cadbury Schweppes Bonus Share Retention Plan 2004	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	17	17	M	Non-Salary Comp.	Amend Overseas Employee Share Schemes	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cadbury Schweppes Plc		G17444152	United Kingdom	05/21/04		Annual	45500	18	18	M	Non-Salary Comp.	Authorise the Board to Establish Further Employees Share Plan or Plans	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Telefonica S.A. (Formerly Telefonica De Espana, S.A.)		2607443	Spain	04/29/04		Annual	548	1	1	M	Routine/Business	Approve Financial Statements, Allocation of Income, and Discharge Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Telefonica S.A. (Formerly Telefonica De Espana, S.A.)		2607443	Spain	04/29/04		Annual	548	2	2	M	Routine/Business	Approve Dividend Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Telefonica S.A. (Formerly Telefonica De Espana, S.A.)		2607443	Spain	04/29/04		Annual	548	3	3	M	Routine/Business	Approve Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Telefonica S.A. (Formerly Telefonica De Espana, S.A.)		2607443	Spain	04/29/04		Annual	548	4	4	M	Capitalization	Authorize Repurchase of Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Telefonica S.A. (Formerly Telefonica De Espana, S.A.)		2607443	Spain	04/29/04		Annual	548	5	5	M	Routine/Business	Approve General Meeting Guidelines	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Telefonica S.A. (Formerly Telefonica De Espana, S.A.)		2607443	Spain	04/29/04		Annual	548	6	6	M	Routine/Business	Authorize Board to Ratify and Execute Approved Resolutions	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Repsol Ypf SA (Formerly Repsol, S.A.)		5669354	Spain	03/30/04		Annual	20550	1	1	M	Routine/Business	Approve Financial Statements, Allocation of Income and Distribution of Dividend of EUR 0.40 Per Share, and Discharge Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Repsol Ypf SA (Formerly Repsol, S.A.)		5669354	Spain	03/30/04		Annual	20550	2	2	M	Directors Related	Elect Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Repsol Ypf SA (Formerly Repsol, S.A.)		5669354	Spain	03/30/04		Annual	20550	3	3	M	Routine/Business	Approve Deloitte & Touche Espana Auditors SL as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Repsol Ypf SA (Formerly Repsol, S.A.)		5669354	Spain	03/30/04		Annual	20550	4	4	M	Capitalization	Authorize Repurchase of Shares up to a Maximum of Five Percent of Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Repsol Ypf SA (Formerly Repsol, S.A.)		5669354	Spain	03/30/04		Annual	20550	5	5	M	Routine/Business	Amend Articles Re: Legal Provisions Governing the Company, Shareholders Meeting, Right of Attendance, Representation, Board Composition, Administrators' Liability, and Debentures Issuance	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Repsol Ypf SA (Formerly Repsol, S.A.)		5669354	Spain	03/30/04		Annual	20550	6	6	M	Routine/Business	Amend Articles Re: Regulations of the General Shareholder's Meeting	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Repsol Ypf SA (Formerly Repsol, S.A.)		5669354	Spain	03/30/04		Annual	20550	7	7	M	Routine/Business	Authorize Board to Ratify and Execute Approved Resolutions	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DEUTSCHE POST AG		D19225107	Germany	05/06/04		Annual	21840	1	1	M	Routine/Business	Receive Financial Statements and Statutory Reports	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DEUTSCHE POST AG		D19225107	Germany	05/06/04		Annual	21840	2	2	M	Routine/Business	Approve Allocation of Income and Dividends of EUR 0.44 per Share	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DEUTSCHE POST AG		D19225107	Germany	05/06/04		Annual	21840	3	3	M	Directors Related	Approve Discharge of Management Board	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DEUTSCHE POST AG		D19225107	Germany	05/06/04		Annual	21840	4	4	M	Directors Related	Approve Discharge of Supervisory Board	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DEUTSCHE POST AG		D19225107	Germany	05/06/04		Annual	21840	5	5	M	Routine/Business	Ratify PwC Deutsche Revision AG as Auditors	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DEUTSCHE POST AG		D19225107	Germany	05/06/04		Annual	21840	6	6	M	Capitalization	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DEUTSCHE POST AG		D19225107	Germany	05/06/04		Annual	21840	7	7	M	Capitalization	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 1 Billion with Preemptive Rights; Approve Creation of EUR 56 Million Pool of Conditional Capital to Guarantee Conversion Rights	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DEUTSCHE POST AG		D19225107	Germany	05/06/04		Annual	21840	8	8	M	Directors Related	Amend Articles Re: Board Renumeration due to Changes in German Disclosure Regulations	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Volkswagen AG (VW)		5497168	Germany	04/22/04		Special	9430	2	1	M	Routine/Business	Announcement of Resolutions Passed at 2004 AGM Re: Issuance of New Shares	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Volkswagen AG (VW)		5497168	Germany	04/22/04		Special	9430	3	2	M	Capitalization	Approve Creation of EUR 400 Million Pool of Conditional Capital with Preemptive Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Volkswagen AG (VW)		5497168	Germany	04/22/04		Special	9430	4	3	M	Routine/Business	Announcement of Resolutions Passed at 2004 AGM Re: Issuance of New Bonds	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Volkswagen AG (VW)		5497168	Germany	04/22/04		Special	9430	5	4	M	Capitalization	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 5 Billion with Preemptive Rights; Approve Creation of EUR 100 Million Pool of Conditional Capital to Guarantee Conversion Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ISS A/S (Formerly ISS International Service)		5952816	Denmark	03/31/04	03/11/04	Annual	7240	1	1	M	Routine/Business	Receive Report of Board	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ISS A/S (Formerly ISS International Service)		5952816	Denmark	03/31/04	03/11/04	Annual	7240	2	2	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ISS A/S (Formerly ISS International Service)		5952816	Denmark	03/31/04	03/11/04	Annual	7240	3	3	M	Directors Related	Approve Discharge of Management and Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ISS A/S (Formerly ISS International Service)		5952816	Denmark	03/31/04	03/11/04	Annual	7240	4	4	M	Routine/Business	Approve Allocation of Income and Dividends of DKK 4 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ISS A/S (Formerly ISS International Service)		5952816	Denmark	03/31/04	03/11/04	Annual	7240	5	5	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ISS A/S (Formerly ISS International Service)		5952816	Denmark	03/31/04	03/11/04	Annual	7240	6	6.1	M	Capitalization	Amend Articles Re: Delete Paragraph Due to Abolishment of Stock Options as Part of Board Remuneration	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ISS A/S (Formerly ISS International Service)		5952816	Denmark	03/31/04	03/11/04	Annual	7240	7	6.2	M	Directors Related	Approve Remuneration of Directors in the Amount of DKK 300,000 Per Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ISS A/S (Formerly ISS International Service)		5952816	Denmark	03/31/04	03/11/04	Annual	7240	8	7	M	Non-Salary Comp.	Approve Issuance of 400,000 Shares for Employee Stock Purchase Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ISS A/S (Formerly ISS International Service)		5952816	Denmark	03/31/04	03/11/04	Annual	7240	9	8	M	Directors Related	Reelect Tom Knutzen and Sven Riskaer as Directors; Elect Karin Verland as New Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ISS A/S (Formerly ISS International Service)		5952816	Denmark	03/31/04	03/11/04	Annual	7240	10	9	M	Routine/Business	Ratify KPMG C. Jespersen and Deloitte as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ISS A/S (Formerly ISS International Service)		5952816	Denmark	03/31/04	03/11/04	Annual	7240	11	10	M	Routine/Business	Other Business (Non-Voting)	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	1	1	M	Directors Related	Re-elect The Lord Browne of Madingley as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	2	2	M	Directors Related	Re-elect Byron Grote as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	3	3	M	Directors Related	Re-elect Michael Miles as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	4	4	M	Directors Related	Re-elect Sir Robin Nicholson as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	5	5	M	Directors Related	Re-elect Dick Olver as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	6	6	M	Directors Related	Re-elect Sir Ian Prosser as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	7	7	M	Directors Related	Elect Antony Burgmans as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	8	8	M	Routine/Business	Re-appoint Ernst and Young LLP as Auditors and Authorise Board to Fix Remuneration of Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	9	9	M	Routine/Business	Amend Articles of Association Re: Treasury Shares and Annual Retirement of Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	10	10	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of USD 1,820 Million	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	11	11	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of USD 273 Million	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	12	12	M	Capitalization	Authorise 2.2 Billion Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	13	13	M	Capitalization	Authorise the Company to use Treasury Shares for the Purpose of the Employee Share Schemes Operated by the Company	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	14	14	M		Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	15	15	M	Directors Related	Approve Increase in Remuneration of Non-Executive Directors from GBP 1.5 Million to GBP 2.5 Million	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	16	16	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BP PLC (Form. Bp Amoco Plc )		0798059	United Kingdom	04/15/04		Annual	82800	18	17	S	SH-Routine/Business	Require the Company to Prepare a Report Re: Mitigating Risks to Shareholder Value when Operating in Protected and Sensitive Areas	Against	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		4942904	Germany	04/28/04		Annual	6860	1	1	M	Routine/Business	Receive Financial Statements and Statutory Reports	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		D24909109	Germany	04/28/04		Annual	6860	1	1	M	Routine/Business	Receive Financial Statements and Statutory Reports	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		4942904	Germany	04/28/04		Annual	6860	2	2	M	Routine/Business	Approve Allocation of Income and Dividends of EUR 2.00 per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		D24909109	Germany	04/28/04		Annual	6860	2	2	M	Routine/Business	Approve Allocation of Income and Dividends of EUR 2.00 per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		4942904	Germany	04/28/04		Annual	6860	3	3	M	Directors Related	Approve Discharge of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		D24909109	Germany	04/28/04		Annual	6860	3	3	M	Directors Related	Approve Discharge of Management Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		4942904	Germany	04/28/04		Annual	6860	4	4	M	Directors Related	Approve Discharge of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		D24909109	Germany	04/28/04		Annual	6860	4	4	M	Directors Related	Approve Discharge of Supervisory Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		4942904	Germany	04/28/04		Annual	6860	5	5	M	Routine/Business	Amend Articles Re: Allow for the Issuance of Dividends in Kind	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		D24909109	Germany	04/28/04		Annual	6860	5	5	M	Routine/Business	Amend Articles Re: Allow for the Issuance of Dividends in Kind	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		4942904	Germany	04/28/04		Annual	6860	6	6	M	Reorg. and Mergers	Approve Affiliation Agreements with Subsidiaries (E.ON Nordic Holding GmbH)	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		D24909109	Germany	04/28/04		Annual	6860	6	6	M	Reorg. and Mergers	Approve Affiliation Agreements with Subsidiaries (E.ON Nordic Holding GmbH)	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		4942904	Germany	04/28/04		Annual	6860	7	7	M	Capitalization	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		D24909109	Germany	04/28/04		Annual	6860	7	7	M	Capitalization	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		4942904	Germany	04/28/04		Annual	6860	8	8	M	Routine/Business	Ratify PwC Deutsche Revision AG as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	E.ON AG (formerly Veba Ag)		D24909109	Germany	04/28/04		Annual	6860	8	8	M	Routine/Business	Ratify PwC Deutsche Revision AG as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	2	2	M		Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	3	3	M	Routine/Business	Approve Final Dividend of 16.67 Pence Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	4	4.1	M	Directors Related	Elect Priscilla Vacassin as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	5	4.2	M	Directors Related	Elect Angus Porter as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	6	4.3	M	Directors Related	Elect Tony Wyatt as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	7	4.4	M	Directors Related	Elect Gerard Murphy as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	8	4.5	M	Directors Related	Elect Geoffrey Cooper as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	9	5.1	M	Directors Related	Re-elect Yasmin Jetha as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	10	5.2	M	Directors Related	Re-elect Mark Pain as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	11	5.3	M	Directors Related	Re-elect Leon Allen as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	12	6	M	Routine/Business	Re-appoint Deloitte and Touche LLP as Auditors of the Company	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	13	7	M	Routine/Business	Authorise Board to Fix Remuneration of the Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	14	8	M	Routine/Business	Authorise EU Political Donations up to GBP 150,000 and EU Political Expenditure up to GBP 150,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	15	9	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to GBP 703,722,815; USD 9,820,000; and EUR 10,000,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	16	10	M	Non-Salary Comp.	Approve Abbey Performance Share Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	17	11	M	Capitalization	Authorise 146,277,184 Ordinary Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	18	12.1	M	Capitalization	Authorise 125,000,000 8.625% Sterling Preference Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	19	12.2	M	Capitalization	Authorise 200,000,000 10.375% Sterling Preference Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	20	12.3	M	Capitalization	Authorise 18,000,000 Series B Dollar Preference Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Abbey National Plc		0004455	United Kingdom	04/22/04		Annual	56700	21	13	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 7,313,859	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ubs Ag		7126114	Switzerland	04/15/04	03/10/04	Annual	4300	2	1	M	Routine/Business	ANNUAL REPORT, GROUP AND PARENT COMPANY ACCOUNTS FOR 2003. REPORTS OF THE GROUP AND STATUTORY AUDITORS	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ubs Ag		7126114	Switzerland	04/15/04	03/10/04	Annual	4300	3	2	M	Routine/Business	APPROPRIATION OF RETAINED EARNINGS. DIVIDEND FOR FINANCIAL YEAR 2003	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ubs Ag		7126114	Switzerland	04/15/04	03/10/04	Annual	4300	4	3	M	Directors Related	DISCHARGE OF THE MEMBERS OF THE BOARD OF DIRECTORS AND THE GROUP EXECUTIVE BOARD	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ubs Ag		7126114	Switzerland	04/15/04	03/10/04	Annual	4300	5	4	M	Directors Related	RE-ELECTION OF BOARD MEMBER: SIR PETER DAVIS	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ubs Ag		7126114	Switzerland	04/15/04	03/10/04	Annual	4300	6	5	M	Directors Related	ELECTION OF NEW BOARD MEMBER: STEPHAN HAERINGER	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ubs Ag		7126114	Switzerland	04/15/04	03/10/04	Annual	4300	7	6	M	Directors Related	ELECTION OF NEW BOARD MEMBER: HELMUT PANKE	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ubs Ag		7126114	Switzerland	04/15/04	03/10/04	Annual	4300	8	7	M	Directors Related	ELECTION OF NEW BOARD MEMBER: PETER SPUHLER	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ubs Ag		7126114	Switzerland	04/15/04	03/10/04	Annual	4300	9	8	M	Routine/Business	RE-ELECTION OF GROUP AND STATUTORY AUDITORS ERNST & YOUNG LTD., BASEL	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ubs Ag		7126114	Switzerland	04/15/04	03/10/04	Annual	4300	10	9	M	Capitalization	CAPITAL REDUCTION: CANCELLATION OF SHARES REPURCHASED UNDER THE 2003/2004 SHARE BUYBACK PROGRAM AND RESPECTIVE AMENDMENT OF ARTICLE 4 OF THE ARTICLES OF ASSOCIATION	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ubs Ag		7126114	Switzerland	04/15/04	03/10/04	Annual	4300	11	10	M	Capitalization	CAPITAL REDUCTION: APPROVAL OF A NEW 2004/2005 SHARE BUYBACK PROGRAM	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ubs Ag		7126114	Switzerland	04/15/04	03/10/04	Annual	4300	12	11	M	Routine/Business	IN CASE OF AD-HOC SHAREHOLDERS MOTIONS DURING THE ANNUAL GENERAL MEETING, I/WE AUTHORIZE MY/OUR PROXY TO VOTE IN ACCORDANCE WITH THE BOARD OF DIRECTORS	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Suez SA (Formerly Suez Lyonnaise Des Eaux)		7118047	France	04/20/04		Annual/ Special	8800			S
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	2	1	M	Routine/Business	Approve Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	3	2	M	Routine/Business	Accept Consolidated Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	4	3	M	Routine/Business	Approve Allocation of Income and Net Dividends of EUR 4.70 per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	5	4	M	Routine/Business	Approve Special Auditors' Report Regarding Related-Party Transactions	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	6	5	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital and Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	7	6	M	Capitalization	Authorize Issuance of Bonds/Debentures	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	8	7	M	Directors Related	Reelect Thierry Desmarest as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	9	8	M	Directors Related	Reelect Thierry de Rudder as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	10	9	M	Directors Related	Reelect Serge Tchuruk as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	11	10	M	Directors Related	Elect Daniel Boeuf as Representative of Employee Shareholders to the Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	12	11	M	Directors Related	Elect Philippe Marchandise as Representative of Employee Shareholders to the Board	Against	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	13	12	M	Directors Related	Elect Cyril Mouche as Representative of Employee Shareholders to the Board	Against	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	14	13	M	Directors Related	Elect Alan Cramer as Representative of Employee Shareholders to the Board	Against	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	15	14	M	Routine/Business	Ratify Ernst & Young Audit as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	16	15	M	Routine/Business	Ratify KPMG Audit as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	17	16	M	Routine/Business	Ratify Pierre Jouanne as Alternate Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	18	17	M	Routine/Business	Ratify Jean-Luc Decornoy as Alternate Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	19	18	M	Directors Related	Approve Remuneration of Directors in the Aggregate Amount of EUR 900,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	21	19	M	Non-Salary Comp.	Approve Stock Option Plan Grants	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	22	20	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 4 Billion	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	23	21	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 2 Billion	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	05/14/04		Annual/ Special	3110	24	22	M	Non-Salary Comp.	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	2	1	M	Routine/Business	Approve Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	2	1	M	Routine/Business	Approve Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	3	2	M	Routine/Business	Accept Consolidated Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	3	2	M	Routine/Business	Accept Consolidated Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	4	3	M	Routine/Business	Approve Allocation of Income and Net Dividends of EUR 4.70 per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	4	3	M	Routine/Business	Approve Allocation of Income and Net Dividends of EUR 4.70 per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	5	4	M	Routine/Business	Approve Special Auditors' Report Regarding Related-Party Transactions	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	5	4	M	Routine/Business	Approve Special Auditors' Report Regarding Related-Party Transactions	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	6	5	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital and Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	6	5	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital and Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	7	6	M	Capitalization	Authorize Issuance of Bonds/Debentures	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	7	6	M	Capitalization	Authorize Issuance of Bonds/Debentures	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	8	7	M	Directors Related	Reelect Thierry Desmarest as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	8	7	M	Directors Related	Reelect Thierry Desmarest as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	9	8	M	Directors Related	Reelect Thierry de Rudder as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	9	8	M	Directors Related	Reelect Thierry de Rudder as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	10	9	M	Directors Related	Reelect Serge Tchuruk as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	10	9	M	Directors Related	Reelect Serge Tchuruk as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	11	10	M	Directors Related	Elect Daniel Boeuf as Representative of Employee Shareholders to the Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	11	10	M	Directors Related	Elect Daniel Boeuf as Representative of Employee Shareholders to the Board	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	12	11	M	Directors Related	Elect Philippe Marchandise as Representative of Employee Shareholders to the Board	Against	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	12	11	M	Directors Related	Elect Philippe Marchandise as Representative of Employee Shareholders to the Board	Against	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	13	12	M	Directors Related	Elect Cyril Mouche as Representative of Employee Shareholders to the Board	Against	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	13	12	M	Directors Related	Elect Cyril Mouche as Representative of Employee Shareholders to the Board	Against	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	14	13	M	Directors Related	Elect Alan Cramer as Representative of Employee Shareholders to the Board	Against	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	14	13	M	Directors Related	Elect Alan Cramer as Representative of Employee Shareholders to the Board	Against	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	15	14	M	Routine/Business	Ratify Ernst & Young Audit as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	15	14	M	Routine/Business	Ratify Ernst & Young Audit as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	16	15	M	Routine/Business	Ratify KPMG Audit as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	16	15	M	Routine/Business	Ratify KPMG Audit as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	17	16	M	Routine/Business	Ratify Pierre Jouanne as Alternate Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	17	16	M	Routine/Business	Ratify Pierre Jouanne as Alternate Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	18	17	M	Routine/Business	Ratify Jean-Luc Decornoy as Alternate Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	18	17	M	Routine/Business	Ratify Jean-Luc Decornoy as Alternate Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	19	18	M	Directors Related	Approve Remuneration of Directors in the Aggregate Amount of EUR 900,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	19	18	M	Directors Related	Approve Remuneration of Directors in the Aggregate Amount of EUR 900,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	21	19	M	Non-Salary Comp.	Approve Stock Option Plan Grants	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	21	19	M	Non-Salary Comp.	Approve Stock Option Plan Grants	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	22	20	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 4 Billion	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	22	20	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 4 Billion	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	23	21	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 2 Billion	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	23	21	M	Capitalization	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 2 Billion	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		4905413	France	04/28/04		Annual/ Special	3110	24	22	M	Non-Salary Comp.	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Total S.A. (Formerly Total Fina Elf S.A )		F92124100	France	04/28/04		Annual/ Special	3110	24	22	M	Non-Salary Comp.	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		0015402	United Kingdom	04/28/04		Annual	137200	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		G5254B100	United Kingdom	04/28/04		Annual	137200	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		0015402	United Kingdom	04/28/04		Annual	137200	2	2	M		Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		G5254B100	United Kingdom	04/28/04		Annual	137200	2	2	M		Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		0015402	United Kingdom	04/28/04		Annual	137200	3	3	M	Routine/Business	Approve Final Dividend of 1.81 Pence Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		G5254B100	United Kingdom	04/28/04		Annual	137200	3	3	M	Routine/Business	Approve Final Dividend of 1.81 Pence Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		0015402	United Kingdom	04/28/04		Annual	137200	4	4	M	Directors Related	Elect Richard Gillingwater as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		G5254B100	United Kingdom	04/28/04		Annual	137200	4	4	M	Directors Related	Elect Richard Gillingwater as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		0015402	United Kingdom	04/28/04		Annual	137200	5	5	M	Directors Related	Re-elect Michael Kirkwood as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		G5254B100	United Kingdom	04/28/04		Annual	137200	5	5	M	Directors Related	Re-elect Michael Kirkwood as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		0015402	United Kingdom	04/28/04		Annual	137200	6	6	M	Directors Related	Re-elect John Poulter as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		G5254B100	United Kingdom	04/28/04		Annual	137200	6	6	M	Directors Related	Re-elect John Poulter as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		0015402	United Kingdom	04/28/04		Annual	137200	7	7	M	Routine/Business	Re-appoint PricewaterhouseCoopers LLP as Auditors of the Company	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		G5254B100	United Kingdom	04/28/04		Annual	137200	7	7	M	Routine/Business	Re-appoint PricewaterhouseCoopers LLP as Auditors of the Company	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		0015402	United Kingdom	04/28/04		Annual	137200	8	8	M	Routine/Business	Authorise Board to Fix Remuneration of the Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		G5254B100	United Kingdom	04/28/04		Annual	137200	8	8	M	Routine/Business	Authorise Board to Fix Remuneration of the Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		0015402	United Kingdom	04/28/04		Annual	137200	9	9	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 26,960,627.90	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		G5254B100	United Kingdom	04/28/04		Annual	137200	9	9	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 26,960,627.90	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		0015402	United Kingdom	04/28/04		Annual	137200	10	10	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 4,200,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		G5254B100	United Kingdom	04/28/04		Annual	137200	10	10	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 4,200,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		0015402	United Kingdom	04/28/04		Annual	137200	11	11	M	Capitalization	Authorise 42 Million Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		G5254B100	United Kingdom	04/28/04		Annual	137200	11	11	M	Capitalization	Authorise 42 Million Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		0015402	United Kingdom	04/28/04		Annual	137200	12	12	M	Routine/Business	Amend Articles of Association Re: Electronic Communication	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Kidde PLC		G5254B100	United Kingdom	04/28/04		Annual	137200	12	12	M	Routine/Business	Amend Articles of Association Re: Electronic Communication	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	2	2	M		Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	3	3	M	Routine/Business	Approve Final Dividend of 11.92 Pence Per Ordinary Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	4	4	M	Directors Related	Re-elect Niall Fitzgerald as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	5	5	M	Directors Related	Re-elect Antony Burgmans as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	6	6	M	Directors Related	Re-elect Clive Butler as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	7	7	M	Directors Related	Re-elect Patrick Cescau as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	8	8	M	Directors Related	Re-elect Keki Dadiseth as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	9	9	M	Directors Related	Re-elect Andre baron van Heemstra as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	10	10	M	Directors Related	Re-elect Rudy Markham as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	11	11	M	Directors Related	Elect Kees van der Graaf as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	12	12	M	Directors Related	Re-elect Lord Brittan of Spennithorne as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	13	13	M	Directors Related	Re-elect Baroness Chalker of Wallasey as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	14	14	M	Directors Related	Re-elect Bertrand Collomb as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	15	15	M	Directors Related	Re-elect Wim Dik as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	16	16	M	Directors Related	Re-elect Oscar Fanjul as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	17	17	M	Directors Related	Re-elect Claudio Gonzalez as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	18	18	M	Directors Related	Re-elect Hilmar Kopper as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	19	19	M	Directors Related	Re-elect The Lord Simon of Highbury as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	20	20	M	Directors Related	Re-elect Jeroen van der Veer as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	21	21	M	Routine/Business	Re-appoint PricewaterhouseCoopers LLP as Auditors of the Company	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	22	22	M	Routine/Business	Authorise Board to Fix Remuneration of the Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	23	23	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 13,450,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	24	24	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 2 Million	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	25	25	M	Capitalization	Authorise 290 Million Ordinary Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	26	26	M	Routine/Business	Amend Articles of Association Re: New Corporate Governance Arrangements	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Unilever Plc		G92087124	United Kingdom	05/12/04		Annual	42200	27	27	M	Routine/Business	Amend Articles of Association Re: Treasury Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Xl Capital Ltd (Formerly Exel Ltd. )	XL	G98255105	Cayman Islands	04/30/04	03/15/04	Annual	3500	1	1	M	Directors Related	Elect John Loudon, Robert S. Parker, and Alan Z. Senter as Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Xl Capital Ltd (Formerly Exel Ltd. )	XL	G98255105	Cayman Islands	04/30/04	03/15/04	Annual	3500	2	2	M	Routine/Business	Appoint PricewaterhouseCoopers as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Xl Capital Ltd (Formerly Exel Ltd. )	XL	G98255105	Cayman Islands	04/30/04	03/15/04	Annual	3500	3	3	M	Routine/Business	Transact Other Business (Non-Voting)	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	2	2	M	Routine/Business	Approve Final Dividend of 14.8 Pence Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	3	3	M	Directors Related	Re-elect Dennis Stevenson as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	4	4	M	Directors Related	Re-elect John Makinson as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	5	5	M	Directors Related	Re-elect Reuben Mark as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	6	6	M	Directors Related	Re-elect Vernon Sankey as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	7	7	M		Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	8	8	M	Routine/Business	Re-appoint PricewaterhouseCoopers LLP as Auditors of the Company	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	9	9	M	Routine/Business	Authorise Board to Fix Remuneration of the Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	10	10	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 66,871,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	11	11	M	Capitalization	Approve Increase in Authorised Capital from GBP 294,500,000 to GBP 295,500,000 by the Creation of 4 Million Ordinary Shares of 25 Pence Each	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	12	12	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 10,030,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	13	13	M	Capitalization	Authorise 80 Million Ordinary Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	14	14	M	Routine/Business	Adopt New Articles of Association	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Pearson Plc		G69651100	United Kingdom	04/30/04		Annual	34900	15	15	M	Non-Salary Comp.	Amend Pearson plc UK Worldwide Save for Shares Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	2	2	M		Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	3	3	M	Directors Related	Re-elect Euan Baird as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	4	4	M	Directors Related	Elect Amy Bondurant as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	5	5	M	Directors Related	Re-elect Peter Byrom as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	6	6	M	Directors Related	Re-elect John Cheffins as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	7	7	M	Directors Related	Elect Carl-Peter Forster as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	8	8	M	Directors Related	Re-elect Colin Green as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	9	9	M	Directors Related	Re-elect James Guyette as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	10	10	M	Directors Related	Re-elect Michael Howse as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	11	11	M	Directors Related	Re-elect Lord Moore of Lower Marsh as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	12	12	M	Directors Related	Re-elect Sir Robin Nicholson as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	13	13	M	Directors Related	Re-elect Sir John Rose as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	14	14	M	Directors Related	Re-elect Andrew Shilston as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	15	15	M	Directors Related	Elect Ian Strachan as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	16	16	M	Directors Related	Re-elect Carl Symon as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	17	17	M	Directors Related	Re-elect Sir John Weston as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	18	18	M	Routine/Business	Re-appoint KPMG Audit Plc as Auditors and Authorise Board to Fix Remuneration of Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	19	19	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 111,843,332	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	20	20	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 16,776,499	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	21	21	M	Capitalization	Authorise 167,764,998 Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	22	22	M	Routine/Business	Amend Articles of Association Re: Removal of Restrictions on the Company's Borrowing Power	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	23	23	M	Non-Salary Comp.	Approve Rolls-Royce Group plc Performance Share Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	24	24	M	Capitalization	Approve Increase in Authorised Capital from GBP 500,050,000.60 to GBP 1,500,050,000.60; Approve Issue of B Shares; and Amend Articles Re: B Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	25	25	M	Routine/Business	Approve Final Dividend of 5 Pence Per Share If Resolution 24 is Not Passed	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	ROLLS-ROYCE GROUP PLC ( formerly Rolls- Royce Plc)		G7630U109	United Kingdom	05/05/04		Annual	218600	26	26	M	Routine/Business	Approve Scrip Dividend If Resolution 24 is Not Passed	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Amp Limited		Q0344G101	Australia	05/20/04		Annual	39890	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Amp Limited		Q0344G101	Australia	05/20/04		Annual	39890	2	2a	M	Directors Related	Elect P Handley as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Amp Limited		Q0344G101	Australia	05/20/04		Annual	39890	3	2b	M	Directors Related	Elect P Mason as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Amp Limited		Q0344G101	Australia	05/20/04		Annual	39890	4	2c	M	Directors Related	Elect N Scheinkestel as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Amp Limited		Q0344G101	Australia	05/20/04		Annual	39890	5	3	M	Directors Related	Approve Reduction in the Aggregate Maximum Fees to AUD1.5 Million Plus Statutory Superannuation Guarantee Contributions	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Michelin Et Cie.		F61824144	France	05/14/04		Annual/ Special	7400	2	1	M	Routine/Business	Approve Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Michelin Et Cie.		F61824144	France	05/14/04		Annual/ Special	7400	3	2	M	Routine/Business	Approve Allocation of Income and Dividends of EUR 1.395 per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Michelin Et Cie.		F61824144	France	05/14/04		Annual/ Special	7400	4	3	M	Routine/Business	Accept Consolidated Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Michelin Et Cie.		F61824144	France	05/14/04		Annual/ Special	7400	5	4	M	Routine/Business	Approve Special Auditors' Report Regarding Related-Party Transactions	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Michelin Et Cie.		F61824144	France	05/14/04		Annual/ Special	7400	6	5	M	Directors Related	Reelect Eric Bourdais de Charbonniere as Supervisory Board Member	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Michelin Et Cie.		F61824144	France	05/14/04		Annual/ Special	7400	7	6	M	Directors Related	Reelect Francois Grappotte as Supervisory Board Member	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Michelin Et Cie.		F61824144	France	05/14/04		Annual/ Special	7400	8	7	M	Routine/Business	Ratify PricewaterhouseCoopers Audit as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Michelin Et Cie.		F61824144	France	05/14/04		Annual/ Special	7400	9	8	M	Routine/Business	Ratify Pierre Coll as Alternate Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Michelin Et Cie.		F61824144	France	05/14/04		Annual/ Special	7400	10	9	M	Routine/Business	Ratify Corevise as Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Michelin Et Cie.		F61824144	France	05/14/04		Annual/ Special	7400	11	10	M	Routine/Business	Ratify Jacques Zaks as Alternate Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Michelin Et Cie.		F61824144	France	05/14/04		Annual/ Special	7400	12	11	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Michelin Et Cie.		F61824144	France	05/14/04		Annual/ Special	7400	14	12	M	Non-Salary Comp.	Approve Stock Option Plan Grants	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Michelin Et Cie.		F61824144	France	05/14/04		Annual/ Special	7400	15	13	M	Non-Salary Comp.	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc )		G3910J112	United Kingdom	05/17/04		Annual	35000	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc )		G3910J112	United Kingdom	05/17/04		Annual	35000	2	2	M		Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc )		G3910J112	United Kingdom	05/17/04		Annual	35000	3	3	M	Directors Related	Elect Lawrence Culp as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc )		G3910J112	United Kingdom	05/17/04		Annual	35000	4	4	M	Directors Related	Elect Crispin Davis as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc )		G3910J112	United Kingdom	05/17/04		Annual	35000	5	5	M	Directors Related	Elect Sir Robert Wilson as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc )		G3910J112	United Kingdom	05/17/04		Annual	35000	6	6	M	Directors Related	Elect Tachi Yamada as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc )		G3910J112	United Kingdom	05/17/04		Annual	35000	7	7	M	Directors Related	Re-elect Sir Christopher Hogg as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc )		G3910J112	United Kingdom	05/17/04		Annual	35000	8	8	M	Routine/Business	Re-appoint PricewaterhouseCoopers LLP as Auditors of the Company	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc )		G3910J112	United Kingdom	05/17/04		Annual	35000	9	9	M	Routine/Business	Authorise Board to Fix Remuneration of the Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc )		G3910J112	United Kingdom	05/17/04		Annual	35000	10	10	M	Routine/Business	Authorise EU Political Donations up to Aggregate Nominal Amount of GBP 100,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc )		G3910J112	United Kingdom	05/17/04		Annual	35000	11	11	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 74,330,954	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc )		G3910J112	United Kingdom	05/17/04		Annual	35000	12	12	M	Capitalization	Authorise 594,647,632 Ordinary Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Xl Capital Ltd (Formerly Exel Ltd. )	XL	G98255105	Cayman Islands	04/30/04	03/15/04	Annual	3500	2	1.1	M	Directors Related	Elect Director John Loudon	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Xl Capital Ltd (Formerly Exel Ltd. )	XL	G98255105	Cayman Islands	04/30/04	03/15/04	Annual	3500	3	1.2	M	Directors Related	Elect Director Robert S. Parker	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Xl Capital Ltd (Formerly Exel Ltd. )	XL	G98255105	Cayman Islands	04/30/04	03/15/04	Annual	3500	4	1.3	M	Directors Related	Elect Director Alan Z. Senter	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Xl Capital Ltd (Formerly Exel Ltd. )	XL	G98255105	Cayman Islands	04/30/04	03/15/04	Annual	3500	5	2	M	Routine/Business	Ratify Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BAE Systems (frm.British Aerospace Plc )		G06940103	United Kingdom	05/05/04		Annual	126910	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BAE Systems (frm.British Aerospace Plc )		G06940103	United Kingdom	05/05/04		Annual	126910	2	2	M		Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BAE Systems (frm.British Aerospace Plc )		G06940103	United Kingdom	05/05/04		Annual	126910	3	3	M	Routine/Business	Approve Final Dividend of 5.5 Pence Per Ordinary Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BAE Systems (frm.British Aerospace Plc )		G06940103	United Kingdom	05/05/04		Annual	126910	4	4	M	Directors Related	Re-elect Ulrich Cartellieri as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BAE Systems (frm.British Aerospace Plc )		G06940103	United Kingdom	05/05/04		Annual	126910	5	5	M	Directors Related	Re-elect Lord Hesketh as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BAE Systems (frm.British Aerospace Plc )		G06940103	United Kingdom	05/05/04		Annual	126910	6	6	M	Directors Related	Re-elect Steven Mogford as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BAE Systems (frm.British Aerospace Plc )		G06940103	United Kingdom	05/05/04		Annual	126910	7	7	M	Directors Related	Re-elect George Rose as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BAE Systems (frm.British Aerospace Plc )		G06940103	United Kingdom	05/05/04		Annual	126910	8	8	M	Directors Related	Elect Michael Hartnall as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BAE Systems (frm.British Aerospace Plc )		G06940103	United Kingdom	05/05/04		Annual	126910	9	9	M	Routine/Business	Re-appoint KPMG Audit Plc as Auditors of the Company	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BAE Systems (frm.British Aerospace Plc )		G06940103	United Kingdom	05/05/04		Annual	126910	10	10	M	Routine/Business	Authorise Board to Fix Remuneration of the Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BAE Systems (frm.British Aerospace Plc )		G06940103	United Kingdom	05/05/04		Annual	126910	11	11	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 19,748,171	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BAE Systems (frm.British Aerospace Plc )		G06940103	United Kingdom	05/05/04		Annual	126910	12	12	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 3,825,091	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BAE Systems (frm.British Aerospace Plc )		G06940103	United Kingdom	05/05/04		Annual	126910	13	13	M	Capitalization	Authorise 306,007,313 Ordinary Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	BAE Systems (frm.British Aerospace Plc )		G06940103	United Kingdom	05/05/04		Annual	126910	14	14	M	Routine/Business	Amend Articles of Association Re: Treasury Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	2	2	M		Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	3	3a	M	Directors Related	Elect Peter Ayliffe as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	4	3b	M	Directors Related	Elect Wolfgang Berndt as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	5	3c	M	Directors Related	Elect Angela Knight as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	6	3d	M	Directors Related	Elect Helen Weir as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	7	4a	M	Directors Related	Re-elect Ewan Brown as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	8	4b	M	Directors Related	Re-elect Eric Daniels as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	9	4c	M	Directors Related	Re-elect David Pritchard as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	10	4d	M	Directors Related	Re-elect Maarten van den Bergh as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	11	5	M	Routine/Business	Re-appoint PricewaterhouseCoopers LLP as Auditors of the Company	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	12	6	M	Routine/Business	Authorise Board to Fix Remuneration of the Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	13	7	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 334,068,329; USD 40,000,000; EUR 40,000,000 and JPY 1,250,000,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	14	8	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 70,913,582	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	15	9	M	Capitalization	Authorise 567 Million Ordinary Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	16	10	M	Routine/Business	Adopt New Articles of Association	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Lloyds TSB Group plc (formerly TSB Group)		G5542W106	United Kingdom	05/21/04		Annual	74800	17	11	M	Non-Salary Comp.	Approve Lloyds TSB Performance Share Plan and Amend Lloyds TSB Group No 2 Executive Share Options Scheme 1997	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shell Transport And Trading Company Plc (The)		822703104	United Kingdom	06/28/04		Annual	69300	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shell Transport And Trading Company Plc (The)		822703104	United Kingdom	06/28/04		Annual	69300	2	2	M		Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shell Transport And Trading Company Plc (The)		822703104	United Kingdom	06/28/04		Annual	69300	3	3	M	Directors Related	Elect Malcolm Brinded as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shell Transport And Trading Company Plc (The)		822703104	United Kingdom	06/28/04		Annual	69300	4	4	M	Directors Related	Re-elect Eileen Buttle as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shell Transport And Trading Company Plc (The)		822703104	United Kingdom	06/28/04		Annual	69300	5	5	M	Directors Related	Re-elect Luis Giusti as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shell Transport And Trading Company Plc (The)		822703104	United Kingdom	06/28/04		Annual	69300	6	6	M	Directors Related	Re-elect Nina Henderson as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shell Transport And Trading Company Plc (The)		822703104	United Kingdom	06/28/04		Annual	69300	7	7	M	Directors Related	Re-elect Lord Oxburgh as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shell Transport And Trading Company Plc (The)		822703104	United Kingdom	06/28/04		Annual	69300	8	8	M	Routine/Business	Re-appoint PricewaterhouseCoopers LLP as Auditors of the Company	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shell Transport And Trading Company Plc (The)		822703104	United Kingdom	06/28/04		Annual	69300	9	9	M	Routine/Business	Authorise Board to Fix Remuneration of the Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shell Transport And Trading Company Plc (The)		822703104	United Kingdom	06/28/04		Annual	69300	10	10	M	Capitalization	Authorise 483 Million Ordinary Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	1	1	M	Routine/Business	Adopt Financial Statements and Directors' and Auditors' Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	2	2a	M	Routine/Business	Declare Final Dividend of SGD 0.16 Per Ordinary Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	3	2b	M	Routine/Business	Declare Final Dividend of SGD 0.16 Per Non-Voting Convertible Preference Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	4	2c	M	Routine/Business	Declare Final Dividend of SGD 0.16 Per Non-Voting Redeemable Convertible Preference Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	5	3	M	Directors Related	Approve Directors' Fees of SGD 647,851 for the Year Ended Dec. 31, 2003	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	6	4	M	Routine/Business	Reappoint Ernst & Young as Auditors and Authorize Board to Fix Their Remuneration	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	7	5a	M	Directors Related	Reelect S. Dhanabalan as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	8	5b	M	Directors Related	Reelect Bernard Chen Tien Lap as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	9	5c	M	Directors Related	Reelect Fock Siew Wah as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	10	5d	M	Directors Related	Reelect Kwa Chong Seng as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	11	5e	M	Directors Related	Reelect Narayana Murthy as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	12	5f	M	Directors Related	Reelect Frank Wong Kwong Shing as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	13	5g	M	Directors Related	Reappoint Thean Lip Ping as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	14	6a	M	Capitalization	Approve Issuance of Shares and Grant of Options Pursuant to the Share Option Plan	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	15	6b	M	Capitalization	Approve Issuance of Shares and Grant of Options Pursuant to the Performance Share Plan	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Annual	33000	16	6c	M	Capitalization	Approve Issuance of Shares without Preemptive Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Special	33000	1	1	M	Routine/Business	Amend Articles of Association	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Special	33000	2	2	M	Capitalization	Approve Issuance of Shares without Preemptive Rights	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	DBS Group Holdings Ltd. (Formerly Development Bank of Singapore)		Y20246107	Singapore	04/30/04		Special	33000	3	3	M	Capitalization	Authorize Share Repurchase Program	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iluka Resources Ltd. (formerly Westralian Sands)		Q4875J104	Australia	05/12/04		Annual	191820	1	1.1	M	Directors Related	Elect Richard A Tastula as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iluka Resources Ltd. (formerly Westralian Sands)		Q4875J104	Australia	05/12/04		Annual	191820	2	1.2	M	Directors Related	Elect Robert L Every as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Iluka Resources Ltd. (formerly Westralian Sands)		Q4875J104	Australia	05/12/04		Annual	191820	3	2	M	Directors Related	Approve Increase in the Remuneration of Directors to AUD1.1 Million Per Annum	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cheung Kong Holdings		Y13213106	Hong Kong	05/20/04	05/18/04	Annual	47000	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cheung Kong Holdings		Y13213106	Hong Kong	05/20/04	05/18/04	Annual	47000	2	2	M	Routine/Business	Approve Final Dividend of HK$1.30 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cheung Kong Holdings		Y13213106	Hong Kong	05/20/04	05/18/04	Annual	47000	3	3a	M	Directors Related	Reelect Chung Sun Keung, Davy as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cheung Kong Holdings		Y13213106	Hong Kong	05/20/04	05/18/04	Annual	47000	4	3b	M	Directors Related	Reelect Ip Tak Chuen, Edmond as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cheung Kong Holdings		Y13213106	Hong Kong	05/20/04	05/18/04	Annual	47000	5	3c	M	Directors Related	Reelect Chiu Kwok Hung, Justin as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cheung Kong Holdings		Y13213106	Hong Kong	05/20/04	05/18/04	Annual	47000	6	3d	M	Directors Related	Reelect Chow Kun Chee, Roland as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cheung Kong Holdings		Y13213106	Hong Kong	05/20/04	05/18/04	Annual	47000	7	3e	M	Directors Related	Reelect Wong Yick-ming, Rosanna as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cheung Kong Holdings		Y13213106	Hong Kong	05/20/04	05/18/04	Annual	47000	8	3f	M	Directors Related	Reelect Yeh Yuan Chang, Anthony as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cheung Kong Holdings		Y13213106	Hong Kong	05/20/04	05/18/04	Annual	47000	9	4	M	Routine/Business	Reappoint Deloitte Touche Tohmatsu as Auditors and Authorize Board to Fix Their Remuneration	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cheung Kong Holdings		Y13213106	Hong Kong	05/20/04	05/18/04	Annual	47000	10	5a	M	Capitalization	Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cheung Kong Holdings		Y13213106	Hong Kong	05/20/04	05/18/04	Annual	47000	11	5b	M	Capitalization	Approve Repurchase of Up to 10 Percent of Issued Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cheung Kong Holdings		Y13213106	Hong Kong	05/20/04	05/18/04	Annual	47000	12	5c	M	Capitalization	Authorize Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Cheung Kong Holdings		Y13213106	Hong Kong	05/20/04	05/18/04	Special	47000	2	1	M	Routine/Business	Amend Articles Re: Nomination of Directors, Voting at Meetings, Issuance of Share Certificate, Removal of Director by Ordinary Resolution	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Rentokil Initial Plc (Formerly Rentokil Group Plc )		G75093115	United Kingdom	05/27/04		Annual	131370	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Rentokil Initial Plc (Formerly Rentokil Group Plc )		G75093115	United Kingdom	05/27/04		Annual	131370	2	2	M		Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Rentokil Initial Plc (Formerly Rentokil Group Plc )		G75093115	United Kingdom	05/27/04		Annual	131370	3	3	M	Routine/Business	Approve Final Dividend of 4.35 Pence Per Ordinary Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Rentokil Initial Plc (Formerly Rentokil Group Plc )		G75093115	United Kingdom	05/27/04		Annual	131370	4	4.1	M	Directors Related	Re-elect Edward Brown as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Rentokil Initial Plc (Formerly Rentokil Group Plc )		G75093115	United Kingdom	05/27/04		Annual	131370	5	4.2	M	Directors Related	Re-elect Ronald Spinney as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Rentokil Initial Plc (Formerly Rentokil Group Plc )		G75093115	United Kingdom	05/27/04		Annual	131370	6	4.3	M	Directors Related	Re-elect James Wilde as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Rentokil Initial Plc (Formerly Rentokil Group Plc )		G75093115	United Kingdom	05/27/04		Annual	131370	7	5	M	Routine/Business	Re-appoint PricewaterhouseCoopers LLP as Auditors and Authorise Board to Fix Remuneration of Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Rentokil Initial Plc (Formerly Rentokil Group Plc )		G75093115	United Kingdom	05/27/04		Annual	131370	8	6	M	Capitalization	Authorise 235,420,780 Ordinary Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Rentokil Initial Plc (Formerly Rentokil Group Plc )		G75093115	United Kingdom	05/27/04		Annual	131370	9	7	M	Routine/Business	Other Business (Non-Voting)	None	None
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hutchison Whampoa		Y38024108	Hong Kong	05/20/04	05/12/04	Annual	46000	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hutchison Whampoa		Y38024108	Hong Kong	05/20/04	05/12/04	Annual	46000	2	2	M	Routine/Business	Approve Final Dividend of HK$1.22 Per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hutchison Whampoa		Y38024108	Hong Kong	05/20/04	05/12/04	Annual	46000	3	3a	M	Directors Related	Elect Li Ka-shing as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hutchison Whampoa		Y38024108	Hong Kong	05/20/04	05/12/04	Annual	46000	4	3b	M	Directors Related	Elect Frank John Sixt as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hutchison Whampoa		Y38024108	Hong Kong	05/20/04	05/12/04	Annual	46000	5	3c	M	Directors Related	Elect George Colin Magnus as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hutchison Whampoa		Y38024108	Hong Kong	05/20/04	05/12/04	Annual	46000	6	3d	M	Directors Related	Elect Michael David Kadoorie as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hutchison Whampoa		Y38024108	Hong Kong	05/20/04	05/12/04	Annual	46000	7	4	M	Routine/Business	Approve Auditors and Authorize Board to Fix Their Remuneration	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hutchison Whampoa		Y38024108	Hong Kong	05/20/04	05/12/04	Annual	46000	8	5a	M	Capitalization	Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hutchison Whampoa		Y38024108	Hong Kong	05/20/04	05/12/04	Annual	46000	9	5b	M	Capitalization	Approve Repurchase of Up to 10 Percent of Issued Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hutchison Whampoa		Y38024108	Hong Kong	05/20/04	05/12/04	Annual	46000	10	5c	M	Capitalization	Authorize Reissuance of Repurchased Shares	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hutchison Whampoa		Y38024108	Hong Kong	05/20/04	05/12/04	Special	46000	2	1	M	Routine/Business	Amend Articles Re: Voting at Meetings, Nomination of Directors, Material Interest of Directors in Contracts Entered into by the Company	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hutchison Whampoa		Y38024108	Hong Kong	05/20/04	05/12/04	Special	46000	4	1	M	Non-Salary Comp.	Approve Share Option Scheme of Hutchison Harbour Ring Ltd.	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hutchison Whampoa		Y38024108	Hong Kong	05/20/04	05/12/04	Special	46000	5	2	M	Non-Salary Comp.	Approve Share Option Scheme of Hutchison 3G UK Hldgs. Ltd.	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hutchison Whampoa		Y38024108	Hong Kong	05/20/04	05/12/04	Special	46000	6	3	M	Non-Salary Comp.	Approve Share Option Scheme of Hutchison 3G Italia S.p.A.	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shire Pharmaceuticals Group Plc		G81083100	United Kingdom	06/16/04		Annual	44000	1	1	M	Routine/Business	Accept Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shire Pharmaceuticals Group Plc		G81083100	United Kingdom	06/16/04		Annual	44000	2	2	M	Directors Related	Re-elect James Cavanaugh as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shire Pharmaceuticals Group Plc		G81083100	United Kingdom	06/16/04		Annual	44000	3	3	M	Directors Related	Re-elect Barry Price as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shire Pharmaceuticals Group Plc		G81083100	United Kingdom	06/16/04		Annual	44000	4	4	M	Directors Related	Elect Robin Buchanan as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shire Pharmaceuticals Group Plc		G81083100	United Kingdom	06/16/04		Annual	44000	5	5	M	Directors Related	Elect David Kappler as Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shire Pharmaceuticals Group Plc		G81083100	United Kingdom	06/16/04		Annual	44000	6	6	M	Routine/Business	Re-appoint Deloitte and Touche LLP as Auditors and Authorise Board to Fix Remuneration of Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shire Pharmaceuticals Group Plc		G81083100	United Kingdom	06/16/04		Annual	44000	7	7	M		Approve Remuneration Report	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shire Pharmaceuticals Group Plc		G81083100	United Kingdom	06/16/04		Annual	44000	8	8	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 7,997,400	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shire Pharmaceuticals Group Plc		G81083100	United Kingdom	06/16/04		Annual	44000	9	9	M	Capitalization	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 1,199,610	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shire Pharmaceuticals Group Plc		G81083100	United Kingdom	06/16/04		Annual	44000	10	10	M	Capitalization	Authorise 47,985,315 Ordinary Shares for Market Purchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Shire Pharmaceuticals Group Plc		G81083100	United Kingdom	06/16/04		Annual	44000	11	11	M	Routine/Business	Authorise the Company to Make EU Political Donations up to Aggregate Nominal Amount of GBP 25,000 and Incur EU Political Expenditure up to Aggregate Nominal Amount of GBP 25,000	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	2	1	M	Routine/Business	Approve Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	3	2	M	Routine/Business	Accept Consolidated Financial Statements and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	4	3	M	Routine/Business	Approve Allocation of Income and Dividends of EUR 1.23 per Share	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	5	4	M	Routine/Business	Approve Special Auditors' Report Regarding Related-Party Transactions	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	6	5	M	Capitalization	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	7	6	M	Routine/Business	Ratify Yves Nicolas as Alternate Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	9	7	M	Routine/Business	Amend Article 7 to Reflect 2003 Legal Changes Re: Shareholding Disclosure Requirement	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	10	8	M	Directors Related	Amend Article 11 to Set Term of Management Board Members at Three Years, Down From Five Years Previously	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	11	9	M	Directors Related	Amend Article 13 to Set Term of Supervisory Board Members at Three Years, Down From Five Years Previously	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	13	10	M	Directors Related	Reelect Jean-Marc Bruel as Supervisory Board Member	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	14	11	M	Directors Related	Reelect Martin Fruhauf as Supervisory Board Member	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	15	12	M	Directors Related	Reelect Serge Kampf as Supervisory Board Member	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	16	13	M	Directors Related	Reelect Hubert Markl as Supervisory Board Member	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	17	14	M	Directors Related	Reelect Gunter Metz as Supervisory Board Member	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	18	15	M	Directors Related	Reelect Didier Pineau-Valencienne as Supervisory Board Member	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	19	16	M	Directors Related	Reelect Seham Razzouqi as Supervisory Board Member	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	20	17	M	Directors Related	Reelect Michel Renault as Supervisory Board Member	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	21	18	M	Directors Related	Reelect Hans-Jurgen Schinzler as Supervisory Board Member	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	22	19	M	Directors Related	Reelect Marc Vienot as Supervisory Board Member	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Aventis SA (Formerly Rhone- Poulenc )		F0590R100	France	06/11/04		Annual/ Special	5998	23	20	M	Routine/Business	Authorize Filing of Required Documents/Other Formalities	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Eni Spa		T3643A145	Italy	05/28/04		Annual/ Special	30300	2	1	M	Routine/Business	Accept Financial Statements, Consolidated Accounts, and Statutory Reports	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Eni Spa		T3643A145	Italy	05/28/04		Annual/ Special	30300	3	2	M	Routine/Business	Approve Allocation of Income	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Eni Spa		T3643A145	Italy	05/28/04		Annual/ Special	30300	4	3	M	Capitalization	Authorize Share Repurchase Program	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Eni Spa		T3643A145	Italy	05/28/04		Annual/ Special	30300	5	4	M	Routine/Business	Elect External Auditors for the Three-Year Term 2004-2006 and Fix Remuneration of Auditors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Eni Spa		T3643A145	Italy	05/28/04		Annual/ Special	30300	6	5	M	Routine/Business	Amend Article 2 of the Set of Rules Governing General Meetings of Eni Spa	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Eni Spa		T3643A145	Italy	05/28/04		Annual/ Special	30300	7	6	M	Directors Related	Approve Remuneration of Directors	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Eni Spa		T3643A145	Italy	05/28/04		Annual/ Special	30300	9	1	M	Routine/Business	Amend Articles To Reflect New Italian Company Law Regulations	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Eni Spa		T3643A145	Italy	05/28/04		Annual/ Special	30300	10	2	M	Routine/Business	Amend Articles 17, 19, and 28 of the Company's Bylaws	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	2	1	M	Reorg. and Mergers	Amend Articles to: Authorize Share Repurchases at Board's Discretion	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	3	2.1	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	4	2.2	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	5	2.3	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	6	2.4	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	7	2.5	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	8	2.6	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	9	2.7	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	10	2.8	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	11	2.9	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	12	2.10	M	Directors Related	Elect Director	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	13	2.11	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	14	2.12	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	15	2.13	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	16	2.14	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	17	2.15	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	18	2.16	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	19	3	M	Non-Salary Comp.	Approve Executive Stock Option Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	20	4	M	Non-Salary Comp.	Approve Stock Option Plan for Directors and Executives of Subsidiary Sony Communication Network	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Sony Corp.		J76379106	Japan	06/22/04	03/31/04	Annual	14300	22	5	S	SH-Other/misc.	Amend Articles to Require Disclosure of Compensation Levels of Individual Directors and Executive Officers	Against	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	1	1	M	Reorg. and Mergers	Amend Articles to: Authorize Share Repurchases at Board's Discretion	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	2	2.1	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	3	2.2	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	4	2.3	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	5	2.4	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	6	2.5	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	7	2.6	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	8	2.7	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	9	2.8	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	10	2.9	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	11	2.10	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	12	2.11	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	13	2.12	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	14	2.13	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	15	2.14	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Hitachi Ltd.		J20454112	Japan	06/24/04	03/31/04	Annual	34000	16	3	M	Non-Salary Comp.	Approve Executive Stock Option Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	1	1	M	Routine/Business	Approve Allocation of Income, Including the Following Dividends: Interim JY 2500, Final JY 2500, Special JY 0	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	2	2	M	Capitalization	Authorize Share Repurchase Program	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	3	3	M	Reorg. and Mergers	Amend Articles to: Decrease Authorized Capital from 62.212 Million to 61.93 Million Shares to Reflect Share Repurchase	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	4	4.1	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	5	4.2	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	6	4.3	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	7	4.4	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	8	4.5	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	9	4.6	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	10	4.7	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	11	4.8	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	12	4.9	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	13	4.10	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	14	4.11	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	15	5	M	Non-Salary Comp.	Appoint Internal Statutory Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nippon Telegraph & Telephone Corp.		J59396101	Japan	06/29/04	03/31/04	Annual	158	16	6	M	Non-Salary Comp.	Approve Retirement Bonuses for Directors and Statutory Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	1	1	M	Routine/Business	Approve Allocation of Income, Including the Following Dividends: Interim JY 3, Final JY 3, Special JY 0	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	2	2	M	Reorg. and Mergers	Amend Articles to: Reduce Directors' Term in Office - Authorize Share Repurchases at Board's Discretion	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	3	3.1	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	4	3.2	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	5	3.3	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	6	3.4	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	7	3.5	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	8	3.6	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	9	3.7	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	10	3.8	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	11	3.9	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	12	3.10	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	13	3.11	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	14	3.12	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	15	3.13	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	16	3.14	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	17	3.15	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	18	4.1	M	Non-Salary Comp.	Appoint Internal Statutory Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	19	4.2	M	Non-Salary Comp.	Appoint Internal Statutory Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	20	4.3	M	Non-Salary Comp.	Appoint Internal Statutory Auditor	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	21	5	M	Non-Salary Comp.	Approve Executive Stock Option Plan	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	NEC Corp.		J48818124	Japan	06/22/04	03/31/04	Annual	37000	22	6	M	Non-Salary Comp.	Approve Retirement Bonuses for Directors and Statutory Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	1	1	M	Routine/Business	Approve Allocation of Income, Including the Following Dividends: Interim JY 0, Final JY 40, Special JY 5	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	2	2	M	Reorg. and Mergers	Amend Articles to: Authorize Share Repurchases at Board's Discretion	For	Against
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	3	3.1	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	4	3.2	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	5	3.3	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	6	3.4	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	7	3.5	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	8	3.6	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	9	3.7	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	10	3.8	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	11	3.9	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	12	3.10	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	13	4.1	M	Non-Salary Comp.	Appoint Internal Statutory Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	14	4.2	M	Non-Salary Comp.	Appoint Internal Statutory Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Ono Pharmaceutical Co. Ltd.		J61546115	Japan	06/29/04	03/31/04	Annual	14000	15	5	M	Non-Salary Comp.	Approve Retirement Bonuses for Director and Statutory Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	1	1	M	Routine/Business	Approve Allocation of Income, Including the Following Dividends: Interim JY 70, Final JY 70, Special JY 0	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	2	2	M	Reorg. and Mergers	Amend Articles to: Authorize Share Repurchases at Board's Discretion	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	3	3.1	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	4	3.2	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	5	3.3	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	6	3.4	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	7	3.5	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	8	3.6	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	9	3.7	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	10	3.8	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	11	3.9	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	12	3.10	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	13	3.11	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	14	3.12	M	Directors Related	Elect Director	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	15	4.1	M	Non-Salary Comp.	Appoint Internal Statutory Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	16	4.2	M	Non-Salary Comp.	Appoint Internal Statutory Auditor	For	For
Franklin Templeton	88	Ivy International Balanced Fund	610811106	322	TICLLC/Temple	Temple TICLLC-88G	Nintendo Co. Ltd.		J51699106	Japan	06/29/04	03/31/04	Annual	5200	17	5	M	Non-Salary Comp.	Approve Retirement Bonuses for Director and Statutory Auditor	For	For

IVY INTERNATIONAL VALUE FUND

Proxy Voting Record

TECHNIP-COFLEXIP, PARIS				MIX Meeting Date: 07/11/2003
Issuer: F90676101		ISIN: FR0000131708	BLOCKING
SEDOL: 4122018, 4874160
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
E.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

MARKS AND SPENCER GROUP PLC				AGM Meeting Date: 07/16/2003
Issuer: G5824M107		ISIN: GB0031274896
SEDOL: 3127489
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
S.11	MANAGEMENT PROPOSAL		Management	For
S.12	MANAGEMENT PROPOSAL		Management	For
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

VODAFONE GROUP PLC				AGM Meeting Date: 07/30/2003
Issuer: G93882101		ISIN: GB0007192106
SEDOL: 0719210, 2615101, 5476190
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	Against
13.	MANAGEMENT PROPOSAL		Management	Against
S.14	MANAGEMENT PROPOSAL		Management	For
S.15	MANAGEMENT PROPOSAL		Management	For

CHECK POINT SOFTWARE TECHNOLOGIES LT			CHKP	Annual Meeting Date: 07/31/2003
Issuer: M22465		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
03	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
04	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
05	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes

THE NEWS CORPORATION LTD				AGM Meeting Date: 10/15/2003
Issuer: Q67027112		ISIN: AU000000NCP0
SEDOL: 0637163, 4633543, 5412105, 6633433, 6886925
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	Against
6.	MANAGEMENT PROPOSAL		Management	For

WESFARMERS LTD				AGM Meeting Date: 11/03/2003
Issuer: Q95870103		ISIN: AU000000WES1
SEDOL: 6948836
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.a	MANAGEMENT PROPOSAL		Management	For
1.b	MANAGEMENT PROPOSAL		Management	For
1.c	MANAGEMENT PROPOSAL		Management	For
1.d	MANAGEMENT PROPOSAL		Management	For
S.2	MANAGEMENT PROPOSAL		Management	For

BRITISH SKY BROADCASTING GROUP PLC				AGM Meeting Date: 11/14/2003
Issuer: G15632105		ISIN: GB0001411924
SEDOL: 0141192, 5474837
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
11.	MANAGEMENT PROPOSAL		Management	Against
S.12	MANAGEMENT PROPOSAL		Management	For
S.13	MANAGEMENT PROPOSAL		Management	For

SUN HUNG KAI PROPERTIES LTD				AGM Meeting Date: 11/18/2003
Issuer: Y82594121		ISIN: HK0016000132
SEDOL: 5724394, 6859927
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	OTHER BUSINESS		Other	Against

WESFARMERS LTD				OGM Meeting Date: 12/05/2003
Issuer: Q95870103		ISIN: AU000000WES1
SEDOL: 6948836
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For

WESTPAC BANKING CORP				AGM Meeting Date: 12/11/2003
Issuer: Q97417101		ISIN: AU000000WBC1
SEDOL: 0957258, 5412183, 6076146, 6956527, 6957393
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.a	MANAGEMENT PROPOSAL		Management	For
2.b	MANAGEMENT PROPOSAL		Management	For
2.c	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For

AUSTRALIA & NEW ZEALAND BANKING GROUP LTD				AGM Meeting Date: 12/19/2003
Issuer: Q09504137		ISIN: AU000000ANZ3
SEDOL: 6065586, 6068079
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.a	GPS MGMT DIRECTOR		Management	For
2.b	GPS MGMT DIRECTOR		Management	For
2.c	GPS S/H DIRECTOR		Shareholder	Unvoted Director
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

NEXT PLC				EGM Meeting Date: 01/29/2004
Issuer: G6500M106		ISIN: GB0032089863
SEDOL: 3208986
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For

NOVARTIS AG, BASEL				AGM Meeting Date: 02/24/2004
Issuer: H5820Q150		ISIN: CH0012005267
SEDOL: 7103065
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	SWISS REGISTERED SHARES		Swiss Register	For

NOVARTIS AG, BASEL				AGM Meeting Date: 02/24/2004
Issuer: H5820Q150		ISIN: CH0012005267	BLOCKING
SEDOL: 7103065
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.1	MANAGEMENT PROPOSAL		Management	Take No Action
8.2a	MANAGEMENT PROPOSAL		Management	Take No Action
8.2b	MANAGEMENT PROPOSAL		Management	Take No Action
8.2c	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

SAMSUNG ELECTRONICS CO LTD				AGM Meeting Date: 02/27/2004
Issuer: Y74718100		ISIN: KR7005930003
SEDOL: 6771720
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.1	MANAGEMENT PROPOSAL		Management	For
2.2	MANAGEMENT PROPOSAL		Management	For
2.3	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For

KT CORPORATION			KTC	Annual Meeting Date: 03/12/2004
Issuer: 48268K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	RECEIVE DIRECTORS' REPORT		Management	For	No
02	APPROVE CHARTER AMENDMENT		Management	For	No
03	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
4A	CHANGE STOCK EXCHANGE LISTING		Management	For
4B	CHANGE STOCK EXCHANGE LISTING		Management	For
4C	CHANGE STOCK EXCHANGE LISTING		Management	Against
05	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
06	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No

LG CHEM LTD				AGM Meeting Date: 03/17/2004
Issuer: Y52758102		ISIN: KR7051910008
SEDOL: 6346913
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.1	MANAGEMENT PROPOSAL		Management	For
3.2	MANAGEMENT PROPOSAL		Management	For
3.3	MANAGEMENT PROPOSAL		Management	For
3.4	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For

M6 METROPOLE TELEVISION SA				MIX Meeting Date: 03/18/2004
Issuer: F6160D108		ISIN: FR0000053225	BLOCKING
SEDOL: 4546254, 5993882, 5993901
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
E.O.9	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

M6 METROPOLE TELEVISION SA				MIX Meeting Date: 03/18/2004
Issuer: F6160D108		ISIN: FR0000053225	BLOCKING
SEDOL: 4546254, 5993882, 5993901
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
EO.14	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

UMICORE SA, BRUXELLES				EGM Meeting Date: 03/19/2004
Issuer: B95505119		ISIN: BE0003626372	BLOCKING
SEDOL: 4005001, 5821347
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action

BEIJING CAPITAL LAND LTD				EGM Meeting Date: 03/22/2004
Issuer: Y0771C103		ISIN: CN0003458402
SEDOL: 6623360
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
S.1	MANAGEMENT PROPOSAL		Management	For
S.2	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
13.	MANAGEMENT PROPOSAL		Management	For

BEIJING CAPITAL LAND LTD				CLS Meeting Date: 03/22/2004
Issuer: Y0771C103		ISIN: CN0003458402
SEDOL: 6623360
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
S.1	MANAGEMENT PROPOSAL		Management	For
S.2	MANAGEMENT PROPOSAL		Management	For

SHIMANO INC (FORMERLY SHIMANO INDUSTRIAL CO LTD)				AGM Meeting Date: 03/24/2004
Issuer: J72262108		ISIN: JP3358000002
SEDOL: 5713035, 6804820
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
4.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.6	JAPAN MANAGEMENT PROPOSAL		Management	For
4.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.8	JAPAN MANAGEMENT PROPOSAL		Management	For
5.1	JAPAN MANAGEMENT PROPOSAL		Management	For
5.2	JAPAN MANAGEMENT PROPOSAL		Management	For

ROYAL PHILIPS ELECTRONICS NV, EINDHOVEN				AGM Meeting Date: 03/25/2004
Issuer: N6817P109		ISIN: NL0000009538	BLOCKING
SEDOL: 0852643, 4183037, 4197726, 4200572, 5986622
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	OTHER BUSINESS		Other	Take No Action
9.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ROYAL PHILIPS ELECTRONICS NV, EINDHOVEN				AGM Meeting Date: 03/25/2004
Issuer: N6817P109		ISIN: NL0000009538	BLOCKING
SEDOL: 0852643, 4183037, 4197726, 4200572, 5986622
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.a	MANAGEMENT PROPOSAL		Management	Take No Action
2.b	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.c	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.d	MANAGEMENT PROPOSAL		Management	Take No Action
2.e	MANAGEMENT PROPOSAL		Management	Take No Action
2.f	MANAGEMENT PROPOSAL		Management	Take No Action
3.a	MANAGEMENT PROPOSAL		Management	Take No Action
3.b	MANAGEMENT PROPOSAL		Management	Take No Action
4.a	MANAGEMENT PROPOSAL		Management	Take No Action
4.b	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
9.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

REPSOL YPF SA				OGM Meeting Date: 03/30/2004
Issuer: E8471S130		ISIN: ES0173516115
SEDOL: 2525095, 5669343, 5669354
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For

CLARIANT AG, MUTTENZ				AGM Meeting Date: 04/02/2004
Issuer: H14843165		ISIN: CH0012142631	BLOCKING
SEDOL: 7113990, 7167759
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	Against
5.1	MANAGEMENT PROPOSAL		Management	For
5.2	MANAGEMENT PROPOSAL		Management	For
5.3	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

TELEFON AB L.M.ERICSSON				OGM Meeting Date: 04/06/2004
Issuer: W26049119		ISIN: SE0000108656	BLOCKING
SEDOL: 0615642, 4303095, 4321558, 4411200, 5009972, 5179723, 5959378, 5962967, 5967360, 7527267
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
A.	MANAGEMENT PROPOSAL		Management	Take No Action
B.	MANAGEMENT PROPOSAL		Management	Take No Action
C.	MANAGEMENT PROPOSAL		Management	Take No Action
D.	MANAGEMENT PROPOSAL		Management	Take No Action
E.	MANAGEMENT PROPOSAL		Management	Take No Action
F.1	MANAGEMENT PROPOSAL		Management	Take No Action
F.2	MANAGEMENT PROPOSAL		Management	Take No Action
F.3	MANAGEMENT PROPOSAL		Management	Take No Action
F.4	MANAGEMENT PROPOSAL		Management	Take No Action
F.5	MANAGEMENT PROPOSAL		Management	Take No Action
F.6	MANAGEMENT PROPOSAL		Management	Take No Action
F.7	MANAGEMENT PROPOSAL		Management	Take No Action
F.8	MANAGEMENT PROPOSAL		Management	Take No Action
G.	MANAGEMENT PROPOSAL		Management	Take No Action
H.	MANAGEMENT PROPOSAL		Management	Take No Action
I.	MANAGEMENT PROPOSAL		Management	Take No Action
J.	MANAGEMENT PROPOSAL		Management	Take No Action
K.	MANAGEMENT PROPOSAL		Management	Take No Action
L.	MANAGEMENT PROPOSAL		Management	Take No Action
M.	MANAGEMENT PROPOSAL		Management	Take No Action
N.	MANAGEMENT PROPOSAL		Management	Take No Action
O.	MANAGEMENT PROPOSAL		Management	Take No Action
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

RIO TINTO PLC				AGM Meeting Date: 04/07/2004
Issuer: G75754104		ISIN: GB0007188757
SEDOL: 0718875, 4718699, 5725676, 6720595
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against
S.2	MANAGEMENT PROPOSAL		Management	For
S.3	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For

UMICORE SA, BRUXELLES				MIX Meeting Date: 04/14/2004
Issuer: B95505119		ISIN: BE0003626372	BLOCKING
SEDOL: 4005001, 5821347
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
3.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
4.1	MANAGEMENT PROPOSAL		Management	Take No Action
4.2	MANAGEMENT PROPOSAL		Management	Take No Action
5.1	MANAGEMENT PROPOSAL		Management	Take No Action
5.2	MANAGEMENT PROPOSAL		Management	Take No Action
6..1	MANAGEMENT PROPOSAL		Management	Take No Action
6.2	MANAGEMENT PROPOSAL		Management	Take No Action
6.3	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

NESTLE SA, CHAM UND VEVEY				AGM Meeting Date: 04/22/2004
Issuer: H57312466		ISIN: CH0012056047	BLOCKING
SEDOL: 3056044, 7123870
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.A	MANAGEMENT PROPOSAL		Management	Take No Action
4.B	MANAGEMENT PROPOSAL		Management	Take No Action
4.C	MANAGEMENT PROPOSAL		Management	Take No Action
4.D	MANAGEMENT PROPOSAL		Management	Take No Action
4.E	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ALFA LAVAL AB				AGM Meeting Date: 04/27/2004
Issuer: W04008152		ISIN: SE0000695876
SEDOL: 7332687
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
A.	MANAGEMENT PROPOSAL		Management	For
B.	MANAGEMENT PROPOSAL		Management	For
C.	MANAGEMENT PROPOSAL		Management	For
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
D.	MANAGEMENT PROPOSAL		Management	For
E.	MANAGEMENT PROPOSAL		Management	For
F.1	MANAGEMENT PROPOSAL		Management	For
F.2	MANAGEMENT PROPOSAL		Management	For
F.3	MANAGEMENT PROPOSAL		Management	For
F.4	MANAGEMENT PROPOSAL		Management	For
F.5	MANAGEMENT PROPOSAL		Management	For
F.6	MANAGEMENT PROPOSAL		Management	For
F.7	MANAGEMENT PROPOSAL		Management	For
F.8	MANAGEMENT PROPOSAL		Management	For
F.9	MANAGEMENT PROPOSAL		Management	For
F.10	MANAGEMENT PROPOSAL		Management	For
F.11	MANAGEMENT PROPOSAL		Management	For
F.12	MANAGEMENT PROPOSAL		Management	For
G.	SHAREHOLDER PROPOSAL		Shareholder	For
H.	SHAREHOLDER PROPOSAL		Shareholder	Against
I.	SHAREHOLDER PROPOSAL		Shareholder	For
J.	SHAREHOLDER PROPOSAL		Shareholder	For
K.	SHAREHOLDER PROPOSAL		Shareholder	For
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

SNAM RETE GAS SPA, SAN DONATO MILANESE (MI)				MIX Meeting Date: 04/27/2004
Issuer: T8578L107		ISIN: IT0003153415	BLOCKING
SEDOL: 7251470
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
E.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action

E.ON AKTIENGESELLSCHAFT EON, DUESSELDORF				AGM Meeting Date: 04/28/2004
Issuer: D24909109		ISIN: DE0007614406	BLOCKING
SEDOL: 4942904, 4943190, 4943208, 4943219, 5009693, 7158515
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action

M6 METROPOLE TELEVISION SA				MIX Meeting Date: 04/28/2004
Issuer: F6160D108		ISIN: FR0000053225	BLOCKING
SEDOL: 4546254, 5993882, 5993901
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
E.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
E.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
O.16	MANAGEMENT PROPOSAL		Management	Take No Action
O.17	MANAGEMENT PROPOSAL		Management	Take No Action
O.18	MANAGEMENT PROPOSAL		Management	Take No Action
O.19	MANAGEMENT PROPOSAL		Management	Take No Action
O.20	MANAGEMENT PROPOSAL		Management	Take No Action
O.21	MANAGEMENT PROPOSAL		Management	Take No Action
OE.22	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ENAGAS SA				OGM Meeting Date: 04/29/2004
Issuer: E41759106		ISIN: ES0130960018
SEDOL: 7383072
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For

ARCELOR S A				OGM Meeting Date: 04/30/2004
Issuer: L0218T101		ISIN: LU0140205948	BLOCKING
SEDOL: 7281875, 7281886, 7285402, 7286223
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action

BANCO POPOLARE DI VERONA E NOVARA SCRL, VERONA				OGM Meeting Date: 04/30/2004
Issuer: T1866D101		ISIN: IT0003262513	BLOCKING
SEDOL: 7378261
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action

CREDIT SUISSE GROUP, ZUERICH				AGM Meeting Date: 04/30/2004
Issuer: H3698D419		ISIN: CH0012138530	BLOCKING
SEDOL: 6384548, 7146327, 7154706, 7171589
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.1	MANAGEMENT PROPOSAL		Management	Take No Action
3.2	MANAGEMENT PROPOSAL		Management	Take No Action
4.1a	MANAGEMENT PROPOSAL		Management	Take No Action
4.1b	MANAGEMENT PROPOSAL		Management	Take No Action
4.1c	MANAGEMENT PROPOSAL		Management	Take No Action
4.1d	MANAGEMENT PROPOSAL		Management	Take No Action
4.1e	MANAGEMENT PROPOSAL		Management	Take No Action
4.2	MANAGEMENT PROPOSAL		Management	Take No Action
4.3	MANAGEMENT PROPOSAL		Management	Take No Action
5.1	MANAGEMENT PROPOSAL		Management	Take No Action
5.2	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AG, WIEN				AGM Meeting Date: 05/04/2004
Issuer: A19494102		ISIN: AT0000652011	BLOCKING
SEDOL: 5289837, 5369449, 7440621
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	MANAGEMENT PROPOSAL		Management	Take No Action
12.	MANAGEMENT PROPOSAL		Management	Take No Action
13.A	MANAGEMENT PROPOSAL		Management	Take No Action
13.B	MANAGEMENT PROPOSAL		Management	Take No Action

FORTIS SA/NV, BRUXELLES				EGM Meeting Date: 05/04/2004
Issuer: B4399L102		ISIN: BE0003801181	BLOCKING
SEDOL: 7266117, 7266139, 7549175
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ALLIANZ AG, MUENCHEN				AGM Meeting Date: 05/05/2004
Issuer: D03080112		ISIN: DE0008404005
SEDOL: 0018490, 0048646, 5231485, 5242487, 5479531, 5766749, 7158333
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	Against
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	Against
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

SCHNEIDER ELECTRIC SA				MIX Meeting Date: 05/06/2004
Issuer: F86921107		ISIN: FR0000121972	BLOCKING
SEDOL: 4834108, 5395875, 7165463
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
O.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
E.20	MANAGEMENT PROPOSAL		Management	Take No Action
E.21	MANAGEMENT PROPOSAL		Management	Take No Action
E.22	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

HOCHTIEF AG, ESSEN				OGM Meeting Date: 05/07/2004
Issuer: D33134103		ISIN: DE0006070006	BLOCKING
SEDOL: 4429902, 5108664
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action

PROSIEBEN SAT.1 MEDIA AG, MUENCHEN				SEP Meeting Date: 05/07/2004
Issuer: D6216S101		ISIN: DE0007771172	BLOCKING
SEDOL: 4579131
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action

BEIJING CAPITAL LAND LTD				AGM Meeting Date: 05/13/2004
Issuer: Y0771C103		ISIN: CN0003458402
SEDOL: 6623360
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
S.13	MANAGEMENT PROPOSAL		Management	For
S.14	MANAGEMENT PROPOSAL		Management	For

RECKITT BENCKISER PLC				AGM Meeting Date: 05/13/2004
Issuer: G7420A107		ISIN: GB0007278715
SEDOL: 0727871, 5861268
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
S.11	MANAGEMENT PROPOSAL		Management	For
S.12	MANAGEMENT PROPOSAL		Management	For

BALOISE-HOLDING, BASEL				OGM Meeting Date: 05/14/2004
Issuer: H04530202		ISIN: CH0012410517	BLOCKING
SEDOL: 7124594
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	SWISS REGISTERED SHARES		Swiss Register	Take No Action

BALOISE-HOLDING, BASEL				OGM Meeting Date: 05/14/2004
Issuer: H04530202		ISIN: CH0012410517	BLOCKING
SEDOL: 7124594
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action

CONTINENTAL AG, HANNOVER				AGM Meeting Date: 05/14/2004
Issuer: D16212140		ISIN: DE0005439004	BLOCKING
SEDOL: 4598589, 4679956, 4740517
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action

HOLCIM LTD (EX.HOLDERBANK FINANCIERE GLARUS AG), JONA				AGM Meeting Date: 05/14/2004
Issuer: H36940130		ISIN: CH0012214059	BLOCKING
SEDOL: 7110753, 7604609
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	SWISS REGISTERED SHARES		Swiss Register	Take No Action

HOLCIM LTD (EX.HOLDERBANK FINANCIERE GLARUS AG), JONA				AGM Meeting Date: 05/14/2004
Issuer: H36940130		ISIN: CH0012214059	BLOCKING
SEDOL: 7110753, 7604609
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

HOLCIM LTD (EX.HOLDERBANK FINANCIERE GLARUS AG), JONA				AGM Meeting Date: 05/14/2004
Issuer: H36940130		ISIN: CH0012214059	BLOCKING
SEDOL: 7110753, 7604609
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.1.1	MANAGEMENT PROPOSAL		Management	Take No Action
7.1.2	MANAGEMENT PROPOSAL		Management	Take No Action
7.2	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

GLAXOSMITHKLINE PLC				AGM Meeting Date: 05/17/2004
Issuer: G3910J112		ISIN: GB0009252882
SEDOL: 0925288, 4907657
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
S.11	MANAGEMENT PROPOSAL		Management	For
S.12	MANAGEMENT PROPOSAL		Management	For

KONINKLIJKE BOSKALIS WESTMINSTER NV				AGM Meeting Date: 05/17/2004
Issuer: N14952225		ISIN: NL0000341485	BLOCKING
SEDOL: 4113766
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.A	MANAGEMENT PROPOSAL		Management	Take No Action
3.B	MANAGEMENT PROPOSAL		Management	Take No Action
3.C	MANAGEMENT PROPOSAL		Management	Take No Action
3.D	MANAGEMENT PROPOSAL		Management	Take No Action
3.E	MANAGEMENT PROPOSAL		Management	Take No Action
3.F	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	OTHER BUSINESS		Other	Take No Action
9.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

AVENTIS				MIX Meeting Date: 05/19/2004
Issuer: F0590R100		ISIN: FR0000130460	BLOCKING
SEDOL: 4736817, 5416839, 7166002
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	MANAGEMENT PROPOSAL		Management	Take No Action
12.	MANAGEMENT PROPOSAL		Management	Take No Action
13.	MANAGEMENT PROPOSAL		Management	Take No Action
14.	MANAGEMENT PROPOSAL		Management	Take No Action
15.	MANAGEMENT PROPOSAL		Management	Take No Action
16.	MANAGEMENT PROPOSAL		Management	Take No Action
17.	MANAGEMENT PROPOSAL		Management	Take No Action
18.	MANAGEMENT PROPOSAL		Management	Take No Action
19.	MANAGEMENT PROPOSAL		Management	Take No Action
20.	MANAGEMENT PROPOSAL		Management	Take No Action
21.	MANAGEMENT PROPOSAL		Management	Take No Action
22.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

CREDIT AGRICOLE SA, PARIS				MIX Meeting Date: 05/19/2004
Issuer: F22797108		ISIN: FR0000045072	BLOCKING
SEDOL: 7262610, 7688272
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
E.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

CREDIT AGRICOLE SA, PARIS				MIX Meeting Date: 05/19/2004
Issuer: F22797108		ISIN: FR0000045072	BLOCKING
SEDOL: 7262610, 7688272
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
E.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
E.20	MANAGEMENT PROPOSAL		Management	Take No Action
E.21	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

LLOYDS TSB GROUP PLC				AGM Meeting Date: 05/21/2004
Issuer: G5542W106		ISIN: GB0008706128
SEDOL: 0870612, 5460524
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.a	MANAGEMENT PROPOSAL		Management	For
3.b	MANAGEMENT PROPOSAL		Management	For
3.c	MANAGEMENT PROPOSAL		Management	For
3.d	MANAGEMENT PROPOSAL		Management	For
4.a	MANAGEMENT PROPOSAL		Management	For
4.b	MANAGEMENT PROPOSAL		Management	For
4.c	MANAGEMENT PROPOSAL		Management	For
4.d	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	Against
S.8	MANAGEMENT PROPOSAL		Management	For
S.9	MANAGEMENT PROPOSAL		Management	For
S.10	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For

ENI SPA, ROMA				MIX Meeting Date: 05/25/2004
Issuer: T3643A145		ISIN: IT0003132476	BLOCKING
SEDOL: 7145056
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
E.1	MANAGEMENT PROPOSAL		Management	Take No Action
E.2	MANAGEMENT PROPOSAL		Management	Take No Action

LAFARGE SA				AGM Meeting Date: 05/25/2004
Issuer: F54432111		ISIN: FR0000120537	BLOCKING
SEDOL: 0500481, 4502706, 4503118, 4516547, 4538961, 7164642
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

EURONEXT NV, AMSTERDAM				AGM Meeting Date: 05/26/2004
Issuer: N3113K108		ISIN: NL0000241511	BLOCKING
SEDOL: 7153758, 7153769, 7153770
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.A	MANAGEMENT PROPOSAL		Management	Take No Action
3.B	MANAGEMENT PROPOSAL		Management	Take No Action
3.C	MANAGEMENT PROPOSAL		Management	Take No Action
3.D	MANAGEMENT PROPOSAL		Management	Take No Action
3.E	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.A	MANAGEMENT PROPOSAL		Management	Take No Action
7.B	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	OTHER BUSINESS		Other	Take No Action
12.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

EURONEXT NV, AMSTERDAM				AGM Meeting Date: 05/26/2004
Issuer: N3113K108		ISIN: NL0000241511	BLOCKING
SEDOL: 7153758, 7153769, 7153770
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.A	MANAGEMENT PROPOSAL		Management	Take No Action
3.B	MANAGEMENT PROPOSAL		Management	Take No Action
3.C	MANAGEMENT PROPOSAL		Management	Take No Action
3.D	MANAGEMENT PROPOSAL		Management	Take No Action
3.E	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.A	MANAGEMENT PROPOSAL		Management	Take No Action
6.B	MANAGEMENT PROPOSAL		Management	Take No Action
6.C	MANAGEMENT PROPOSAL		Management	Take No Action
6.D	MANAGEMENT PROPOSAL		Management	Take No Action
7.A	MANAGEMENT PROPOSAL		Management	Take No Action
7.B	MANAGEMENT PROPOSAL		Management	Take No Action
8.A	MANAGEMENT PROPOSAL		Management	Take No Action
8.B	MANAGEMENT PROPOSAL		Management	Take No Action
8.C	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	OTHER BUSINESS		Other	Take No Action
12.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

FORTIS SA/NV, BRUXELLES				AGM Meeting Date: 05/26/2004
Issuer: B4399L102		ISIN: BE0003801181	BLOCKING
SEDOL: 7266117, 7266139, 7549175
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.a	MANAGEMENT PROPOSAL		Management	Take No Action
2.b	MANAGEMENT PROPOSAL		Management	Take No Action
2.c	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.a	MANAGEMENT PROPOSAL		Management	Take No Action
4.b	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

FORTIS SA/NV, BRUXELLES				MIX Meeting Date: 05/26/2004
Issuer: B4399L102		ISIN: BE0003801181	BLOCKING
SEDOL: 7266117, 7266139, 7549175
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

FORTIS SA/NV, BRUXELLES				MIX Meeting Date: 05/26/2004
Issuer: B4399L102		ISIN: BE0003801181	BLOCKING
SEDOL: 7266117, 7266139, 7549175
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.1	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.2a	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.2b	MANAGEMENT PROPOSAL		Management	Take No Action
O.2c1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2c2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.4aa	MANAGEMENT PROPOSAL		Management	Take No Action
O.4ab	MANAGEMENT PROPOSAL		Management	Take No Action
O.4ac	MANAGEMENT PROPOSAL		Management	Take No Action
O.4ba	MANAGEMENT PROPOSAL		Management	Take No Action
O.4bb	MANAGEMENT PROPOSAL		Management	Take No Action
O.4bc	MANAGEMENT PROPOSAL		Management	Take No Action
O.4bd	MANAGEMENT PROPOSAL		Management	Take No Action
O.4be	MANAGEMENT PROPOSAL		Management	Take No Action
E.5	MANAGEMENT PROPOSAL		Management	Take No Action
E.6	MANAGEMENT PROPOSAL		Management	Take No Action
E.7	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

IMPERIAL CHEMICAL INDUSTRIES PLC ICI				AGM Meeting Date: 05/26/2004
Issuer: G47194223		ISIN: GB0004594973
SEDOL: 0459497, 4481032, 5479263, 7119028
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	Against
S.13	MANAGEMENT PROPOSAL		Management	For
S.14	MANAGEMENT PROPOSAL		Management	For

MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AKTIENGESELLSCHAFT IN MUENCHEN, MUENC				AGM Meeting Date: 05/26/2004
Issuer: D55535104		ISIN: DE0008430026
SEDOL: 4904409, 5294121, 7159239, 7389081
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

PEUGEOT SA				MIX Meeting Date: 05/26/2004
Issuer: F72313111		ISIN: FR0000121501	BLOCKING
SEDOL: 4683827, 4683838, 7103526, 7160178, 7165441, 7260272
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
E.8	MANAGEMENT PROPOSAL		Management	Take No Action
E.9	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

HYPO REAL ESTATE HOLDING AG, MUENCHEN				OGM Meeting Date: 06/04/2004
Issuer: D3449E108		ISIN: DE0008027707	BLOCKING
SEDOL: 7681248, 7696866
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	MANAGEMENT PROPOSAL		Management	Take No Action
12.	MANAGEMENT PROPOSAL		Management	Take No Action

AVENTIS				MIX Meeting Date: 06/11/2004
Issuer: F0590R100		ISIN: FR0000130460	BLOCKING
SEDOL: 4736817, 5416839, 7166002
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
E.7	MANAGEMENT PROPOSAL		Management	Take No Action
E.8	MANAGEMENT PROPOSAL		Management	Take No Action
E.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
O.16	MANAGEMENT PROPOSAL		Management	Take No Action
O.17	MANAGEMENT PROPOSAL		Management	Take No Action
O.18	MANAGEMENT PROPOSAL		Management	Take No Action
O.19	MANAGEMENT PROPOSAL		Management	Take No Action
O.20	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

NIDEC CORP				AGM Meeting Date: 06/23/2004
Issuer: J52968104		ISIN: JP3734800000
SEDOL: 6640682
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

TOYOTA MOTOR CORP				AGM Meeting Date: 06/23/2004
Issuer: J92676113		ISIN: JP3633400001
SEDOL: 0851435, 2205870, 4871503, 6900643
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
3.17	JAPAN MANAGEMENT PROPOSAL		Management	For
3.18	JAPAN MANAGEMENT PROPOSAL		Management	For
3.19	JAPAN MANAGEMENT PROPOSAL		Management	For
3.20	JAPAN MANAGEMENT PROPOSAL		Management	For
3.21	JAPAN MANAGEMENT PROPOSAL		Management	For
3.22	JAPAN MANAGEMENT PROPOSAL		Management	For
3.23	JAPAN MANAGEMENT PROPOSAL		Management	For
3.24	JAPAN MANAGEMENT PROPOSAL		Management	For
3.25	JAPAN MANAGEMENT PROPOSAL		Management	For
3.26	JAPAN MANAGEMENT PROPOSAL		Management	For
3.27	JAPAN MANAGEMENT PROPOSAL		Management	For
4.	JAPAN MANAGEMENT PROPOSAL		Management	For
5.	JAPAN MANAGEMENT PROPOSAL		Management	For
6.1	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6.2	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6.3	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
7.	JAPAN SHAREHOLDER PROPOSAL		Other	Against
8.	JAPAN SHAREHOLDER PROPOSAL		Other	Against
9.	JAPAN SHAREHOLDER PROPOSAL		Other	For

FUNAI ELECTRIC CO LTD, OSAKA				AGM Meeting Date: 06/24/2004
Issuer: J16307100		ISIN: JP3825850005
SEDOL: 50
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
7	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

NEC ELECTRONICS CORP, KAWASAKI				AGM Meeting Date: 06/25/2004
Issuer: J4881U109		ISIN: JP3164720009
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	Against
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against
7	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

NOMURA HOLDINGS INC				AGM Meeting Date: 06/25/2004
Issuer: J59009159		ISIN: JP3762600009
SEDOL: 4601045, 4644879, 6643108, 6650487
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For

DENTSU INC, TOKYO				AGM Meeting Date: 06/29/2004
Issuer: J1207N108		ISIN: JP3551520004
SEDOL: 6416281
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	Against
4.4	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

KAO CORP				AGM Meeting Date: 06/29/2004
Issuer: J30642169		ISIN: JP3205800000
SEDOL: 5685479, 6483809
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
4.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.6	JAPAN MANAGEMENT PROPOSAL		Management	For
4.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.8	JAPAN MANAGEMENT PROPOSAL		Management	For
4.9	JAPAN MANAGEMENT PROPOSAL		Management	For
4.10	JAPAN MANAGEMENT PROPOSAL		Management	For
4.11	JAPAN MANAGEMENT PROPOSAL		Management	For
4.12	JAPAN MANAGEMENT PROPOSAL		Management	For
4.13	JAPAN MANAGEMENT PROPOSAL		Management	For
4.14	JAPAN MANAGEMENT PROPOSAL		Management	For
4.15	JAPAN MANAGEMENT PROPOSAL		Management	For
5.	JAPAN MANAGEMENT PROPOSAL		Management	For
6.	JAPAN MANAGEMENT PROPOSAL		Management	For
7.	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

MITSUI FUDOSAN CO LTD (FORMERLY MITSUI REAL ESTATE DEVELOPMENT CO LTD)				AGM Meeting Date: 06/29/2004
Issuer: J4509L101		ISIN: JP3893200000
SEDOL: 5451788, 6597603
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

MITSUI TRUST HOLDINGS INC, TOKYO				AGM Meeting Date: 06/29/2004
Issuer: J6150N104		ISIN: JP3892100003
SEDOL: 6431897, B010YW8
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

NIPPON TELEGRAPH & TELEPHONE CORP NTT				AGM Meeting Date: 06/29/2004
Issuer: J59396101		ISIN: JP3735400008
SEDOL: 0641186, 5168602, 6641373
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
4.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.6	JAPAN MANAGEMENT PROPOSAL		Management	For
4.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.8	JAPAN MANAGEMENT PROPOSAL		Management	For
4.9	JAPAN MANAGEMENT PROPOSAL		Management	For
4.10	JAPAN MANAGEMENT PROPOSAL		Management	For
4.11	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

SECOM CO LTD				AGM Meeting Date: 06/29/2004
Issuer: J69972107		ISIN: JP3421800008
SEDOL: 5798504, 6791591
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	JAPAN MANAGEMENT PROPOSAL		Management	Against
2.	JAPAN MANAGEMENT PROPOSAL		Management	Against
3.1	JAPAN MANAGEMENT PROPOSAL		Management	Against
3.2	JAPAN MANAGEMENT PROPOSAL		Management	Against
3.3	JAPAN MANAGEMENT PROPOSAL		Management	Against
3.4	JAPAN MANAGEMENT PROPOSAL		Management	Against
3.5	JAPAN MANAGEMENT PROPOSAL		Management	Against
3.6	JAPAN MANAGEMENT PROPOSAL		Management	Against
3.7	JAPAN MANAGEMENT PROPOSAL		Management	Against
3.8	JAPAN MANAGEMENT PROPOSAL		Management	Against
3.9	JAPAN MANAGEMENT PROPOSAL		Management	Against
3.10	JAPAN MANAGEMENT PROPOSAL		Management	Against
3.11	JAPAN MANAGEMENT PROPOSAL		Management	Against
4.	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

SUMITOMO MITSUI FINANCIAL GROUP INC, TOKYO				AGM Meeting Date: 06/29/2004
Issuer: J7771X109		ISIN: JP3890350006
SEDOL: 3250095, 6563024
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

TAKEDA CHEMICAL INDUSTRIES LTD				AGM Meeting Date: 06/29/2004
Issuer: J81281115		ISIN: JP3463000004
SEDOL: 5296752, 6870445
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

TOKYO GAS CO LTD				AGM Meeting Date: 06/29/2004
Issuer: J87000105		ISIN: JP3573000001
SEDOL: 5791699, 6895448
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
4.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.6	JAPAN MANAGEMENT PROPOSAL		Management	For
4.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.8	JAPAN MANAGEMENT PROPOSAL		Management	For
4.9	JAPAN MANAGEMENT PROPOSAL		Management	For
4.10	JAPAN MANAGEMENT PROPOSAL		Management	For
4.11	JAPAN MANAGEMENT PROPOSAL		Management	For
4.12	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

IVY MORTGAGE SECURITIES FUND

Proxy Voting Record

There was no proxy voting for Ivy Mortgage Securities Fund, a series of the Registrant, for the period covered by this report, pursuant to Section 30 of the Investment Company Act of 1940, as amended, and Rule 30b1-4 thereunder.

IVY PACIFIC OPPORTUNITIES FUND

Proxy Voting Record

JOHNSON ELECTRIC HOLDINGS LTD				AGM Meeting Date: 07/21/2003
Issuer: G5150J140		ISIN: BMG5150J1403
SEDOL: 6126331, 6281939
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.1	MANAGEMENT PROPOSAL		Management	For
7.2	MANAGEMENT PROPOSAL		Management	For
7.3	MANAGEMENT PROPOSAL		Management	For

CHECK POINT SOFTWARE TECHNOLOGIES LT			CHKP	Annual Meeting Date: 07/31/2003
Issuer: M22465		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
03	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
04	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
05	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes

AUSTRALIA & NEW ZEALAND BANKING GROUP LTD				OGM Meeting Date: 08/13/2003
Issuer: Q09504137		ISIN: AU000000ANZ3
SEDOL: 6065586, 6068079
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
S.1	MANAGEMENT PROPOSAL		Management	For
S.2	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For

LI & FUNG LTD				SGM Meeting Date: 09/22/2003
Issuer: G5485F144		ISIN: BMG5485F1445
SEDOL: 4458252, 6286257
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For

ORIENT OVERSEAS (INTERNATIONAL) LTD				SGM Meeting Date: 09/22/2003
Issuer: G67749104		ISIN: BMG677491042
SEDOL: 6659116
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
S.1	MANAGEMENT PROPOSAL		Management	Against
2.	MANAGEMENT PROPOSAL		Management	Against
S.3	MANAGEMENT PROPOSAL		Management	Against

PT BANK MANDIRI (PERSERO) TBK				EGM Meeting Date: 09/29/2003
Issuer: Y7123S108		ISIN: ID1000095003
SEDOL: 6651048
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	Against
4.	MANAGEMENT PROPOSAL		Management	For
5.	OTHER BUSINESS		Other	Against

THE NEWS CORPORATION LTD				AGM Meeting Date: 10/15/2003
Issuer: Q67027112		ISIN: AU000000NCP0
SEDOL: 0637163, 4633543, 5412105, 6633433, 6886925
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	Against
6.	MANAGEMENT PROPOSAL		Management	For

NOVOGEN LIMITED				AGM Meeting Date: 10/24/2003
Issuer: Q69941203		ISIN: AU000000NRT0
SEDOL: 5876057, 6648244
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.1	MANAGEMENT PROPOSAL		Management	For
2.2	MANAGEMENT PROPOSAL		Management	For
2.3	MANAGEMENT PROPOSAL		Management	For
2.4	MANAGEMENT PROPOSAL		Management	For
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

WESFARMERS LTD				AGM Meeting Date: 11/03/2003
Issuer: Q95870103		ISIN: AU000000WES1
SEDOL: 6948836
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.a	MANAGEMENT PROPOSAL		Management	For
1.b	MANAGEMENT PROPOSAL		Management	For
1.c	MANAGEMENT PROPOSAL		Management	For
1.d	MANAGEMENT PROPOSAL		Management	For
S.2	MANAGEMENT PROPOSAL		Management	For

HANG LUNG PROPERTIES LTD				AGM Meeting Date: 11/13/2003
Issuer: Y30166105		ISIN: HK0101000591
SEDOL: 5579129, 6030506
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.A	MANAGEMENT PROPOSAL		Management	For
5.B	MANAGEMENT PROPOSAL		Management	For
5.C	MANAGEMENT PROPOSAL		Management	For
6.	OTHER BUSINESS		Other	Against

SUN HUNG KAI PROPERTIES LTD				AGM Meeting Date: 11/18/2003
Issuer: Y82594121		ISIN: HK0016000132
SEDOL: 5724394, 6859927
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	OTHER BUSINESS		Other	Against

ESPRIT HOLDINGS LTD				AGM Meeting Date: 11/26/2003
Issuer: G3122U129		ISIN: BMG3122U1291
SEDOL: 0478920, 5752674, 6321642
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For

SINGAPORE PRESS HOLDINGS LTD				AGM Meeting Date: 12/05/2003
Issuer: V81378149		ISIN: SG1G28865390
SEDOL: 5822588, 6133966
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.1	MANAGEMENT PROPOSAL		Management	For
3.2	MANAGEMENT PROPOSAL		Management	For
3.3	MANAGEMENT PROPOSAL		Management	For
3.4	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.1	MANAGEMENT PROPOSAL		Management	For
5.2	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
9.1	MANAGEMENT PROPOSAL		Management	Against
9.2	MANAGEMENT PROPOSAL		Management	For
9.3	MANAGEMENT PROPOSAL		Management	For

WESFARMERS LTD				OGM Meeting Date: 12/05/2003
Issuer: Q95870103		ISIN: AU000000WES1
SEDOL: 6948836
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For

WESTPAC BANKING CORP				AGM Meeting Date: 12/11/2003
Issuer: Q97417101		ISIN: AU000000WBC1
SEDOL: 0957258, 5412183, 6076146, 6956527, 6957393
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.a	MANAGEMENT PROPOSAL		Management	For
2.b	MANAGEMENT PROPOSAL		Management	For
2.c	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For

AUSTRALIA & NEW ZEALAND BANKING GROUP LTD				AGM Meeting Date: 12/19/2003
Issuer: Q09504137		ISIN: AU000000ANZ3
SEDOL: 6065586, 6068079
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.a	GPS MGMT DIRECTOR		Management	For
2.b	GPS MGMT DIRECTOR		Management	For
2.c	GPS S/H DIRECTOR		Shareholder	Unvoted Director
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

HON HAI PRECISION INDUSTRY CO LTD				EGM Meeting Date: 12/24/2003
Issuer: Y36861105		ISIN: TW0002317005
SEDOL: 6438564
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For

SEEC MEDIA GROUP LTD				EGM Meeting Date: 01/09/2004
Issuer: G7996Q106		ISIN: KYG7996Q1064
SEDOL: 5882333, 6703864
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For

SAMSUNG ELECTRONICS CO LTD				AGM Meeting Date: 02/27/2004
Issuer: Y74718100		ISIN: KR7005930003
SEDOL: 6771720
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.1	MANAGEMENT PROPOSAL		Management	For
2.2	MANAGEMENT PROPOSAL		Management	For
2.3	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For

HYUNDAI MOTOR CO LTD				AGM Meeting Date: 03/12/2004
Issuer: Y38472109		ISIN: KR7005380001
SEDOL: 6451055
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For

SK TELECOM CO LTD				AGM Meeting Date: 03/12/2004
Issuer: Y4935N104		ISIN: KR7017670001
SEDOL: 6224871
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against
2.	MANAGEMENT PROPOSAL		Management	Against
3.	MANAGEMENT PROPOSAL		Management	Against
4.1	MANAGEMENT PROPOSAL		Management	Against
4.2	MANAGEMENT PROPOSAL		Management	Against
5.	MANAGEMENT PROPOSAL		Management	Against

LG CHEM LTD				AGM Meeting Date: 03/17/2004
Issuer: Y52758102		ISIN: KR7051910008
SEDOL: 6346913
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.1	MANAGEMENT PROPOSAL		Management	For
3.2	MANAGEMENT PROPOSAL		Management	For
3.3	MANAGEMENT PROPOSAL		Management	For
3.4	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For

KOREAN AIR LINES CO LTD				AGM Meeting Date: 03/19/2004
Issuer: Y4936S102		ISIN: KR7003490000
SEDOL: 6496766
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For

KOOKMIN BANK				AGM Meeting Date: 03/23/2004
Issuer: Y4822W100		ISIN: KR7060000007
SEDOL: 6419365
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For

HANA BANK				AGM Meeting Date: 03/26/2004
Issuer: Y7642S100		ISIN: KR7002860005
SEDOL: 6076470, 6795333
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.1	MANAGEMENT PROPOSAL		Management	For
4.2	MANAGEMENT PROPOSAL		Management	Against
4.3	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For

SEEC MEDIA GROUP LTD				AGM Meeting Date: 03/29/2004
Issuer: G7996Q106		ISIN: KYG7996Q1064
SEDOL: 5882333, 6703864
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	Against
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
S.8	MANAGEMENT PROPOSAL		Management	For

KASIKORNBANK PUBLIC COMPANY LIMITED				OGM Meeting Date: 04/02/2004
Issuer: Y4591R118		ISIN: TH0016010017
SEDOL: 5568967, 6888794, 6890670
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	OTHER BUSINESS		Other	Against
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

KINGDEE INTERNATIONAL SOFTWARE GROUP CO LTD				AGM Meeting Date: 04/16/2004
Issuer: G52568105		ISIN: KYG525681055
SEDOL: 6327587
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.A	MANAGEMENT PROPOSAL		Management	For
3.B	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.A	MANAGEMENT PROPOSAL		Management	For
5.B	MANAGEMENT PROPOSAL		Management	For
5.C	MANAGEMENT PROPOSAL		Management	For

KINGDEE INTERNATIONAL SOFTWARE GROUP CO LTD				EGM Meeting Date: 04/16/2004
Issuer: G52568105		ISIN: KYG525681055
SEDOL: 6327587
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against

ASM PACIFIC TECHNOLOGY LTD				AGM Meeting Date: 04/23/2004
Issuer: G0535Q117		ISIN: KYG0535Q1174
SEDOL: 6002453
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For

ASM PACIFIC TECHNOLOGY LTD				EGM Meeting Date: 04/23/2004
Issuer: G0535Q117		ISIN: KYG0535Q1174
SEDOL: 6002453
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
S.1	MANAGEMENT PROPOSAL		Management	Against
2.	MANAGEMENT PROPOSAL		Management	Against
3.	MANAGEMENT PROPOSAL		Management	Against
4.	MANAGEMENT PROPOSAL		Management	Against

DAH SING FINANCIAL HOLDINGS LTD				AGM Meeting Date: 04/28/2004
Issuer: Y19182107		ISIN: HK0440001847
SEDOL: 4103530, 6249799
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For

HAW PAR CORPORATION LTD				AGM Meeting Date: 04/28/2004
Issuer: V42666103		ISIN: SG1D25001158
SEDOL: 0415187, 6415460, 6415523
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
13.	MANAGEMENT PROPOSAL		Management	Against

KEPPEL CORPORATION LTD				AGM Meeting Date: 04/28/2004
Issuer: V53838112		ISIN: SG1E04001251
SEDOL: 0490515, 5683741, 6490263
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
11.	MANAGEMENT PROPOSAL		Management	For
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

KEPPEL CORPORATION LTD				EGM Meeting Date: 04/28/2004
Issuer: V53838112		ISIN: SG1E04001251
SEDOL: 0490515, 5683741, 6490263
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
S.1	MANAGEMENT PROPOSAL		Management	For

KEPPEL LAND LTD				AGM Meeting Date: 04/28/2004
Issuer: V87778102		ISIN: SG1R31002210
SEDOL: 6853468
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

KEPPEL LAND LTD				EGM Meeting Date: 04/28/2004
Issuer: V87778102		ISIN: SG1R31002210
SEDOL: 6853468
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
S.1	MANAGEMENT PROPOSAL		Management	For

AU OPTRONICS CORP.			AUO	Annual Meeting Date: 04/29/2004
Issuer: 002255		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
02	ARTICLES OF ASSOCIATION		Management	For	No
03	ELECTION OF DIRECTORS		Management	For	No
04	MISCELLANEOUS CORPORATE ACTIONS - GLOBAL		Management	For	No
05	DIVIDEND		Management	For	No
06	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Shareholder	For	No
07	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

DBS GROUP HOLDINGS LTD				AGM Meeting Date: 04/30/2004
Issuer: Y20246107		ISIN: SG1L01001701
SEDOL: 5772014, 5783696, 6175203
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2A.	MANAGEMENT PROPOSAL		Management	For
2B.	MANAGEMENT PROPOSAL		Management	For
2C.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5A.a	MANAGEMENT PROPOSAL		Management	For
5A.b	MANAGEMENT PROPOSAL		Management	For
5A.c	MANAGEMENT PROPOSAL		Management	For
5B.a	MANAGEMENT PROPOSAL		Management	For
5B.b	MANAGEMENT PROPOSAL		Management	For
5B.c	MANAGEMENT PROPOSAL		Management	For
5C.	MANAGEMENT PROPOSAL		Management	For
6A.	MANAGEMENT PROPOSAL		Management	Against
6B.	MANAGEMENT PROPOSAL		Management	Against
6C.	MANAGEMENT PROPOSAL		Management	Against

DBS GROUP HOLDINGS LTD				EGM Meeting Date: 04/30/2004
Issuer: Y20246107		ISIN: SG1L01001701
SEDOL: 5772014, 5783696, 6175203
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
S.1	MANAGEMENT PROPOSAL		Management	Against
O.2	MANAGEMENT PROPOSAL		Management	Against
O.3	MANAGEMENT PROPOSAL		Management	For

VENTURE CORPORATION LTD				AGM Meeting Date: 04/30/2004
Issuer: Y9360Y103		ISIN: SG0531000230
SEDOL: 5430141, 6927374
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against

VENTURE CORPORATION LTD				EGM Meeting Date: 04/30/2004
Issuer: Y9360Y103		ISIN: SG0531000230
SEDOL: 5430141, 6927374
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
S.1	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	Against

SAMPO CORP				AGM Meeting Date: 05/03/2004
Issuer: Y74706105		ISIN: TW0001604007
SEDOL: 6771924
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.1	MANAGEMENT PROPOSAL		Management	Against
1.2	MANAGEMENT PROPOSAL		Management	Against
1.3	MANAGEMENT PROPOSAL		Management	Against
1.4	MANAGEMENT PROPOSAL		Management	Against
2.1	MANAGEMENT PROPOSAL		Management	Against
2.2	MANAGEMENT PROPOSAL		Management	Against
2.3	MANAGEMENT PROPOSAL		Management	Against
2.4	MANAGEMENT PROPOSAL		Management	Against
2.5	OTHER BUSINESS		Other	Against
3.	MANAGEMENT PROPOSAL		Management	Against
4.	OTHER BUSINESS		Other	Against

PT BANK CENTRAL ASIA TBK				AGM Meeting Date: 05/06/2004
Issuer: Y7123P112		ISIN: ID1000069404
SEDOL: 6352772
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

CITIC PACIFIC LTD				AGM Meeting Date: 05/10/2004
Issuer: Y1639J116		ISIN: HK0267001375
SEDOL: 2289067, 5296882, 6196152
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
S.6	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	Against
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For

HUANENG POWER INTERNATIONAL INC				AGM Meeting Date: 05/11/2004
Issuer: Y3744A105		ISIN: CN0009115410
SEDOL: 5788839, 6099671, 6441904
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For

LI & FUNG LTD				AGM Meeting Date: 05/11/2004
Issuer: G5485F144		ISIN: BMG5485F1445
SEDOL: 4458252, 6286257
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against
2.	MANAGEMENT PROPOSAL		Management	Against
3.1	MANAGEMENT PROPOSAL		Management	Against
3.2	MANAGEMENT PROPOSAL		Management	Against
3.3	MANAGEMENT PROPOSAL		Management	Against
4.	MANAGEMENT PROPOSAL		Management	Against
5.	MANAGEMENT PROPOSAL		Management	Against
6.	MANAGEMENT PROPOSAL		Management	Against
7.	MANAGEMENT PROPOSAL		Management	Against
8.	MANAGEMENT PROPOSAL		Management	Against
S.9	MANAGEMENT PROPOSAL		Management	Against

STANDARD CHARTERED PLC				AGM Meeting Date: 05/11/2004
Issuer: G84228157		ISIN: GB0004082847
SEDOL: 0408284, 6558484, 7032039
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
13.	MANAGEMENT PROPOSAL		Management	Against
14.	MANAGEMENT PROPOSAL		Management	Against
S.15	MANAGEMENT PROPOSAL		Management	For
S.16	MANAGEMENT PROPOSAL		Management	For
S.17	MANAGEMENT PROPOSAL		Management	For
18.	MANAGEMENT PROPOSAL		Management	For
19.	MANAGEMENT PROPOSAL		Management	For

TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD				AGM Meeting Date: 05/11/2004
Issuer: Y84629107		ISIN: TW0002330008
SEDOL: 6889106
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.1	MANAGEMENT PROPOSAL		Management	For
1.2	MANAGEMENT PROPOSAL		Management	For
1.3	MANAGEMENT PROPOSAL		Management	For
1.4	MANAGEMENT PROPOSAL		Management	For
2.1	MANAGEMENT PROPOSAL		Management	For
2.2	MANAGEMENT PROPOSAL		Management	For
2.3	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

CHEUNG KONG INFRASTRUCTURE HOLDINGS LTD				AGM Meeting Date: 05/13/2004
Issuer: G2098R102		ISIN: BMG2098R1025
SEDOL: 5558991, 6212553
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.1	MANAGEMENT PROPOSAL		Management	Against
5.2	MANAGEMENT PROPOSAL		Management	For
5.3	MANAGEMENT PROPOSAL		Management	For

CHEUNG KONG INFRASTRUCTURE HOLDINGS LTD				SGM Meeting Date: 05/13/2004
Issuer: G2098R102		ISIN: BMG2098R1025
SEDOL: 5558991, 6212553
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
S.1	MANAGEMENT PROPOSAL		Management	For

FORMOSA PLASTICS CORP				AGM Meeting Date: 05/14/2004
Issuer: Y26095102		ISIN: TW0001301000
SEDOL: 6348544
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For

CHINA PETROLEUM & CHEMICAL CORP SINOPEC				AGM Meeting Date: 05/18/2004
Issuer: Y15010104		ISIN: CN0005789556
SEDOL: 6291819, 7027756
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
S.1	MANAGEMENT PROPOSAL		Management	Against
S.2	MANAGEMENT PROPOSAL		Management	For

HUTCHISON WHAMPOA LTD				AGM Meeting Date: 05/20/2004
Issuer: Y38024108		ISIN: HK0013000119
SEDOL: 5324910, 6448035, 6448068
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.1	MANAGEMENT PROPOSAL		Management	For
5.2	MANAGEMENT PROPOSAL		Management	For
5.3	MANAGEMENT PROPOSAL		Management	For

HUTCHISON WHAMPOA LTD				EGM Meeting Date: 05/20/2004
Issuer: Y38024108		ISIN: HK0013000119
SEDOL: 5324910, 6448035, 6448068
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
S.1	MANAGEMENT PROPOSAL		Management	For
O.1	MANAGEMENT PROPOSAL		Management	For
O.2	MANAGEMENT PROPOSAL		Management	For
O.3	MANAGEMENT PROPOSAL		Management	For

H D F C BANK LTD				AGM Meeting Date: 05/26/2004
Issuer: Y3119P117		ISIN: INE040A01018
SEDOL: 6100131
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
S.8	MANAGEMENT PROPOSAL		Management	For
S.9	MANAGEMENT PROPOSAL		Management	For
S.10	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For

KEPPEL LTD				CRT Meeting Date: 05/26/2004
Issuer: V53838112		ISIN: SG1E04001251
SEDOL: 0490515, 5683741, 6490263
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For

PT ASTRA INTERNATIONAL TBK				AGM Meeting Date: 05/27/2004
Issuer: Y7117N149		ISIN: ID1000057607
SEDOL: 6291712
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against
2.	MANAGEMENT PROPOSAL		Management	Against
3.A	MANAGEMENT PROPOSAL		Management	Against
3.B	MANAGEMENT PROPOSAL		Management	Against
3.C	MANAGEMENT PROPOSAL		Management	Against
4.	MANAGEMENT PROPOSAL		Management	Against

CHINA RESOURCES POWER HOLDINGS CO LTD				AGM Meeting Date: 05/28/2004
Issuer: Y1503A100		ISIN: HK0836012952
SEDOL: 6711566
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
S.7	MANAGEMENT PROPOSAL		Management	For

XINAO GAS HOLDINGS LTD				AGM Meeting Date: 05/28/2004
Issuer: G9826J104		ISIN: KYG9826J1040
SEDOL: 6333937
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.A	MANAGEMENT PROPOSAL		Management	For
4.B	MANAGEMENT PROPOSAL		Management	For
4.C	MANAGEMENT PROPOSAL		Management	For
S.5	MANAGEMENT PROPOSAL		Management	For

PORTS DESIGN LTD				AGM Meeting Date: 05/31/2004
Issuer: G71848108		ISIN: BMG718481085
SEDOL: 6708524
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.A	MANAGEMENT PROPOSAL		Management	For
5.B	MANAGEMENT PROPOSAL		Management	For
5.C	MANAGEMENT PROPOSAL		Management	For
5.D	MANAGEMENT PROPOSAL		Management	For
S.5.E	MANAGEMENT PROPOSAL		Management	For

PT BANK RAKYAT INDONESIA (PERSERO) TBK				AGM Meeting Date: 05/31/2004
Issuer: Y0697U104		ISIN: ID1000096001
SEDOL: 6709099
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	Against
9.	MANAGEMENT PROPOSAL		Management	Against

UNITED MICROELECTRONICS CORP				AGM Meeting Date: 06/01/2004
Issuer: Y92370108		ISIN: TW0002303005
SEDOL: 6916628
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	OTHER BUSINESS		Other	Against
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ALUMINUM CORPORATION OF CHINA LTD				AGM Meeting Date: 06/07/2004
Issuer: Y0094N109		ISIN: CN0007659070
SEDOL: 6425395
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.1	MANAGEMENT PROPOSAL		Management	For
8.2.1	MANAGEMENT PROPOSAL		Management	For
8.2.2	MANAGEMENT PROPOSAL		Management	For
8.2.3	MANAGEMENT PROPOSAL		Management	For
8.2.4	MANAGEMENT PROPOSAL		Management	For
8.2.5	MANAGEMENT PROPOSAL		Management	For
8.2.6	MANAGEMENT PROPOSAL		Management	For
8.2.7	MANAGEMENT PROPOSAL		Management	For
8.2.8	MANAGEMENT PROPOSAL		Management	For
8.2.9	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
S.10	MANAGEMENT PROPOSAL		Management	For
S.11	MANAGEMENT PROPOSAL		Management	For
12.	OTHER BUSINESS		Other	Against
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

MAXIS COMMUNICATIONS BHD				AGM Meeting Date: 06/07/2004
Issuer: Y5903J108		ISIN: MYL5051OO007
SEDOL: 6530523
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
S.6	MANAGEMENT PROPOSAL		Management	For

MAXIS COMMUNICATIONS BHD				EGM Meeting Date: 06/07/2004
Issuer: Y5903J108		ISIN: MYL5051OO007
SEDOL: 6530523
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against
2.	MANAGEMENT PROPOSAL		Management	Against
3.	MANAGEMENT PROPOSAL		Management	Against
4.	MANAGEMENT PROPOSAL		Management	Against
5.	MANAGEMENT PROPOSAL		Management	Against
6.	MANAGEMENT PROPOSAL		Management	Against
7.	MANAGEMENT PROPOSAL		Management	Against
8.	MANAGEMENT PROPOSAL		Management	Against
9.	MANAGEMENT PROPOSAL		Management	Against

HON HAI PRECISION IND LTD				AGM Meeting Date: 06/10/2004
Issuer: Y36861105		ISIN: TW0002317005
SEDOL: 6438564
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Against
2.	MANAGEMENT PROPOSAL		Management	Against
3.	MANAGEMENT PROPOSAL		Management	Against
4.	MANAGEMENT PROPOSAL		Management	Against
5.	MANAGEMENT PROPOSAL		Management	Against
6.	MANAGEMENT PROPOSAL		Management	Against
7.	MANAGEMENT PROPOSAL		Management	Against
8.	MANAGEMENT PROPOSAL		Management	Against
9.	MANAGEMENT PROPOSAL		Management	Against
10.	MANAGEMENT PROPOSAL		Management	Against
11.	MANAGEMENT PROPOSAL		Management	Against
12.	MANAGEMENT PROPOSAL		Management	Against
13.	MANAGEMENT PROPOSAL		Management	Against
14.	MANAGEMENT PROPOSAL		Management	Against

SHANGHAI FORTE LAND CO LTD				AGM Meeting Date: 06/11/2004
Issuer: Y7683C105		ISIN: CN0001642502
SEDOL: 6589525
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against
2.	MANAGEMENT PROPOSAL		Management	Against
3.	MANAGEMENT PROPOSAL		Management	Against
4.	MANAGEMENT PROPOSAL		Management	Against
5.	MANAGEMENT PROPOSAL		Management	Against
S.6	MANAGEMENT PROPOSAL		Management	Against
S.7	MANAGEMENT PROPOSAL		Management	Against
S.8	MANAGEMENT PROPOSAL		Management	Against
S.9	MANAGEMENT PROPOSAL		Management	Against

DAH SING FINANCIAL HOLDINGS LTD				EGM Meeting Date: 06/12/2004
Issuer: Y19182107		ISIN: HK0440001847
SEDOL: 4103530, 6249799
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For

INDIAN PETROCHEMICALS CORPORATION LTD				EGM Meeting Date: 06/12/2004
Issuer: Y39337129		ISIN: INE006A01019
SEDOL: 6099585
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against
2.	MANAGEMENT PROPOSAL		Management	Against
3.	MANAGEMENT PROPOSAL		Management	Against
4.	MANAGEMENT PROPOSAL		Management	Against
5.	MANAGEMENT PROPOSAL		Management	Against
6.	MANAGEMENT PROPOSAL		Management	Against
7.	MANAGEMENT PROPOSAL		Management	Against
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

INFOSYS TECHNOLOGIES LTD				AGM Meeting Date: 06/12/2004
Issuer: Y4082C133		ISIN: INE009A01021
SEDOL: 2723383, 6099574, 6205122
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
S.9	MANAGEMENT PROPOSAL		Management	For
S.10	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
13.	MANAGEMENT PROPOSAL		Management	For
14.	MANAGEMENT PROPOSAL		Management	For
S.15	MANAGEMENT PROPOSAL		Management	For
16.	MANAGEMENT PROPOSAL		Management	For
17.	MANAGEMENT PROPOSAL		Management	For

HUANENG POWER INTERNATIONAL INC				EGM Meeting Date: 06/15/2004
Issuer: Y3744A105		ISIN: CN0009115410
SEDOL: 5788839, 6099671, 6441904
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	Against
4.	MANAGEMENT PROPOSAL		Management	Against
5.	MANAGEMENT PROPOSAL		Management	Against

QUANTA COMPUTER INC				AGM Meeting Date: 06/15/2004
Issuer: Y7174J106		ISIN: TW0002382009
SEDOL: 6141011
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.1	MANAGEMENT PROPOSAL		Management	Against
1.2	MANAGEMENT PROPOSAL		Management	Against
1.3	MANAGEMENT PROPOSAL		Management	Against
1.4	MANAGEMENT PROPOSAL		Management	Against
2.1	MANAGEMENT PROPOSAL		Management	Against
2.2	MANAGEMENT PROPOSAL		Management	Against
3.1	MANAGEMENT PROPOSAL		Management	Against
3.2	MANAGEMENT PROPOSAL		Management	Against
3.3	MANAGEMENT PROPOSAL		Management	Against
4.	MANAGEMENT PROPOSAL		Management	Against
5.	OTHER BUSINESS		Other	Against
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

DAH SING FINANCIAL HOLDINGS LTD				EGM Meeting Date: 06/21/2004
Issuer: Y19182107		ISIN: HK0440001847
SEDOL: 4103530, 6249799
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
S.1	MANAGEMENT PROPOSAL		Management	For

GENTING BHD				AGM Meeting Date: 06/23/2004
Issuer: Y26926116		ISIN: MYL3182OO002
SEDOL: 4391700, 6366665, 6366676
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
S.11	MANAGEMENT PROPOSAL		Management	For

PT PERUSAHAAN ROKOK TJAP GUDANG GARAM TBK PT GUDANG GARAM TBK				AGM Meeting Date: 06/24/2004
Issuer: Y7121F165		ISIN: ID1000068604
SEDOL: 5549326, 6366999
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For

RELIANCE INDUSTRIES LTD				AGM Meeting Date: 06/24/2004
Issuer: Y72596102		ISIN: INE002A01018
SEDOL: 6099626
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
RANBAXY LABORATORIES LTD				AGM Meeting Date: 06/25/2004
Issuer: Y7187Y140		ISIN: INE015A01010
SEDOL: 6101071
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
S.12	MANAGEMENT PROPOSAL		Management	For

KAO CORP				AGM Meeting Date: 06/29/2004
Issuer: J30642169		ISIN: JP3205800000
SEDOL: 5685479, 6483809
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
4.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.6	JAPAN MANAGEMENT PROPOSAL		Management	For
4.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.8	JAPAN MANAGEMENT PROPOSAL		Management	For
4.9	JAPAN MANAGEMENT PROPOSAL		Management	For
4.10	JAPAN MANAGEMENT PROPOSAL		Management	For
4.11	JAPAN MANAGEMENT PROPOSAL		Management	For
4.12	JAPAN MANAGEMENT PROPOSAL		Management	For
4.13	JAPAN MANAGEMENT PROPOSAL		Management	For
4.14	JAPAN MANAGEMENT PROPOSAL		Management	For
4.15	JAPAN MANAGEMENT PROPOSAL		Management	For
5.	JAPAN MANAGEMENT PROPOSAL		Management	For
6.	JAPAN MANAGEMENT PROPOSAL		Management	For
7.	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

IVY REAL ESTATE SECURITIES FUND

Proxy Voting Record

***BOARDWALK EQUITIES INC			BEQIF	Special Meeting Date: 04/28/2004
Issuer: 096613		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	AUTHORIZE SALE OF ASSETS		Management	For	No
02	APPROVE RESTRUCTURING PLAN		Management	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	IVY REAL ESTATE SECURITIES FUND (Sub-Advised)	126959.1	104	244,440	244,440	07/14/2004

KEYSTONE PROPERTY TRUST			KTR	Annual Meeting Date: 06/03/2004
Issuer: 493596		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	DECLASSIFY BOARD		Management	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	IVY REAL ESTATE SECURITIES FUND (Sub-Advised)	126959.1	100	95,700	95,700	07/14/2004

OMEGA HEALTHCARE INVESTORS, INC.			OHIPRA	Annual Meeting Date: 06/03/2004
Issuer: 681936		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED PREFERRED STOCK INCREASE		Shareholder	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	IVY REAL ESTATE SECURITIES FUND (Sub-Advised)	126959.1	209	72,800	72,800	07/14/2004

CEDAR SHOPPING CENTERS, INC.			CDR	Annual Meeting Date: 06/15/2004
Issuer: 150602		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	IVY REAL ESTATE SECURITIES FUND (Sub-Advised)	126959.1	209	77,000	77,000	07/14/2004

IVY REAL ESTATE SECURITIES FUND

Proxy Voting Record of the Advantus Real Estate Securities Fund, Inc., which merged into the Ivy Real Estate Securities Fund on December 8, 2003.

Investment Company Report
Meeting Date Range:							01-Jul-2003 - 05-Dec-2003 Report Date:							11-Aug-2004
												Page:		Page 1 of 4
Mutual funds														Agenda Number:	932038296
	CATELLUS DEVELOPMENT CORP CATELLUS DEVELOPMENT CO
				Security:	149111106								Meeting Type:		Annual
			Ticker:		CDX								Meeting Date:		26-Sep-03
			ISIN:
Prop. #				Proposal						Proposal Type				Proposal Vote	For/Against Management
01			APPROVE AND ADOPT THE AGREEMENT AND PLAN OF MERGER DATED JULY 31, 2003 AMONG CATELLUS DEVELOPMENT CORPORATION, CATELLUS SUBCO, INC. AND CATELLUS OPERATING LIMITED PARTNERSHIP PURSUANT TO WHICH THE REIT CONVERSION WILL BE EFFECTED							Mgmt				For	For
	M
		100%									Y
			0%			0%		0%	0%				P		C
			Comments:
02			DIRECTOR
	M		Comments:
		100%	1		JOSEPH F. ALIBRANDI					Mgmt				For	For
	M		0%
		100%	2		STEPHEN F. BOLLENBACH					Mgmt				For	For
	M		0%
		100%	3		DARYL J. CARTER					Mgmt				For	For
	M		0%
		100%	4		RICHARD D. FARMAN					Mgmt				For	For
	M		0%
		100%	5		CHRISTINE GARVEY					Mgmt				For	For
			0%
	M
		100%	6		WILLIAM M. KAHANE					Mgmt				For	For
			0%
	M
		100%	7		LESLIE D. MICHELSON					Mgmt				For	For
	M		0%
	M
		0%	8		DEANNA W. OPPENHEIMER					Mgmt				Withheld	Against
			100%
	M
		100%	9		NELSON C. RISING					Mgmt				For	For
			0%
	M
		100%	10		THOMAS M. STEINBERG					Mgmt				For	For
			0%
	M
		100%	11		CORA M. TELLEZ					Mgmt				For	For
			0%
03			APPROVE THE AMENDMENT TO THE 2000 PERFORMANCE AWARD PLAN							Mgmt				For
	M
100%											Y
		0%				0%		0%	0%				P		C
			Comments:
04			APPROVE AND ADOPT THE 2003 PERFORMANCE AWARD PLAN							Mgmt				For
	M
100%											Y
		0%				0%		0%	0%				P		C
			Comments:
05			STOCKHOLDER PROPOSAL RELATING TO STOCKHOLDER RIGHTS PLAN							Shr				Against	For
	S
0%											N
		0%				0%		0%	100%				P		C
			Comments:

Mutual funds												Agenda Number:	932060798
	GENERAL GROWTH PROPERTIES GENERAL GROWTH PROPERTI
				Security:	370021107						Meeting Type:		Special
			Ticker:		GGP						Meeting Date:		20-Nov-03
			ISIN:
Prop. #				Proposal					Proposal Type			Proposal Vote	For/Against Management
01			APPROVAL OF AN AMENDMENT TO THE CERTIFICATE OF INCORPORATION TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF COMMON STOCK, CHANGE THE PAR VALUE OF THE COMMON STOCK AND EFFECTUATE A THREE-FOR-ONE SPLIT OF THE COMMON STOCK.						Mgmt			Against	Against
	M
0%										Y
		0%				0%	0%	100%			P		C
			Comments:

Mutual funds												Agenda Number:	932042877
	MID-ATLANTIC REALTY TRUST MID ATLANTIC REALTY TRU
				Security:	595232109						Meeting Type:		Special
			Ticker:		MRR						Meeting Date:		30-Sep-03
			ISIN:
Prop. #				Proposal					Proposal Type			Proposal Vote	For/Against Management
01			TO APPROVE THE MERGER OF MID-ATLANTIC REALTY TRUST WITH AND INTO KIMCO ACQUISITION REAL ESTATE INVESTMENT TRUST, A MARYLAND REAL ESTATE INVESTMENT TRUST AND SUBSIDIARY OF KIMCO REALTY CORPORATION, WITH KIMCO ACQUISITION REAL ESTATE INVESTMENT TRUST BEING						Mgmt			For	For
	M
100%										Y
		0%				0%	0%	0%			P		C
			Comments:

IVY SMALL CAP VALUE FUND

Proxy Voting Record

Proxy Vote Summary Report
Jun 30, 2003 - Jun 30, 2004
Ivy Small Cap Value Fund (formerly Advantus Venture Fund) - 3605
			Record	Shares
			Date/	Voted/
Mtg	Company/		Mgmt	Vote
Date/Type	Ballot Issues	Security	Rec	Cast	Prpnent
10/08/03 - A	AAR Corp. *AIR*	000361105	08/13/03	58,900
	1	Elect Directors	For	For	Mgmt
12/18/03 - A	Acuity Brands, Inc. *AYI*	00508Y102	10/23/03	10,300
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
05/20/04 - A	Advanced Fibre Communications, Inc. *AFCI*	00754A105	03/23/04	6,400
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
04/28/04 - A/S	Agrium Inc. *AGU.*	008916108	03/17/04	56,400
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
	3	Amend Stock Option Plan	For	For	Mgmt
	4	Amend Shareholder Rights Plan (Poison Pill)	For	For	Mgmt
05/18/04 - PC	Alaska Air Group, Inc. *ALK*	011659109	03/19/04	18,100
		MANAGEMENT PROXY (WHITE)
	1	Elect Directors	For	For	Mgmt
	1.1	Elect Director William S. Ayer --- For
	1.2	Elect Director Dennis F. Madsen --- For
	1.3	Elect Director R. Marc Langland --- For
	1.4	Elect Director John V. Rindlaub --- For
	2	Approve Omnibus Stock Plan	For	For	Mgmt
	3	Adopt Simple Majority Vote Requirement	Against	For	ShrHoldr
	4	Submit Shareholder Rights Plan (Poison Pill) to Shareholder Vote	Against	For	ShrHoldr
	5	Amend By Laws to Adopt Policy for Shareholder Proposals or Director Elections	Against	Against	ShrHoldr
	6	Amend By Laws to Adopt Policy on Lead Independent Director	Against	For	ShrHoldr
	7	Amend By Laws to Adopt Policy on Independent Chairman of the Board	Against	For	ShrHoldr
	8	Provide for Confidential Voting	Against	For	ShrHoldr
	9	Adopt Report on Employee Stock Ownership	Against	Against	ShrHoldr
	10	Restore or Provide for Cumulative Voting	Against	For	ShrHoldr
		DISSIDENT PROXY
	1	Elect Directors (Opposition Slate)	For	None	Mgmt
	2	Approve Omnibus Stock Plan	Against	None	Mgmt
	3	Adopt Simple Majority Vote Requirement	For	None	ShrHoldr
	4	Submit Shareholder Rights Plan (Poison Pill) to Shareholder Vote	For	None	ShrHoldr
	5	Amend By Laws to Adopt Policy for Shareholder Proposals or Director Elections	For	None	ShrHoldr
	6	Amend Bylaws to Adopt Policy on Lead Independent Director	For	None	ShrHoldr
	7	Amend Bylaws to Adopt Policy on Independent Chairman of the Board	For	None	ShrHoldr
	8	Provide for Confidential Voting	For	None	ShrHoldr
	9	Adopt Report on Employee Stock Ownership	For	None	ShrHoldr
	10	Provide for Cumulative Voting	For	None	ShrHoldr
	11	Amend Bylaws to Establish New Election Standards	For	None	ShrHoldr
	12	Amend Bylaws Regarding Majority Votes	For	None	ShrHoldr
05/19/04 - A	Albany Molecular Research, Inc. *AMRI*	012423109	03/24/04	12,300
	1	Elect Directors	For	For	Mgmt
04/29/04 - A	American Axle & Manufacturing Holdings, Inc. *AXL*	024061103	03/01/04	11,600
	1	Elect Directors	For	For	Mgmt
	2	Amend Omnibus Stock Plan	For	For	Mgmt
	3	Approve Omnibus Stock Plan	For	For	Mgmt
04/29/04 - A	American Capital Strategies, Ltd.	024937104	03/12/04	14,800
	1	Elect Directors	For	For	Mgmt
	2	Approve Stock Option Plan	For	For	Mgmt
	3	Increase Authorized Common Stock	For	For	Mgmt
	4	Approve Issuance of Warrants	For	For	Mgmt
	5	Ratify Auditors	For	For	Mgmt
06/22/04 - A	American Eagle Outfitters, Inc. *AEOS*	02553E106	04/30/04	12,400
	1	Elect Directors	For	For	Mgmt
	2	Expense Stock Options	Against	For	ShrHoldr
	3	Adopt ILO Based Code of Conduct	Against	Against	ShrHoldr
05/06/04 - A	American Medical Systems Holdings, Inc. *AMMD*	02744M108	03/19/04	5,800
	1	Elect Directors	For	For	Mgmt
05/13/04 - A	AmerUs Group Co. *AMH*	03072M108	03/08/04	8,800
	1	Elect Directors	For	For	Mgmt
	2	Amend Articles	For	For	Mgmt
	3	Approve Deferred Compensation Plan	For	For	Mgmt
	4	Ratify Auditors	For	For	Mgmt
11/06/03 - A	Anaren Inc. *ANEN*	032744104	09/08/03	25,200
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
06/09/04 - A	Anchor Glass Container Corp. *AGCC.*	03304B300	04/20/04	23,400
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Joel A. Asen --- For
	1.2	Elect Director James N. Chapman --- For
	1.3	Elect Director Richard M. Deneau --- For
	1.4	Elect Director Jonathan Gallen --- For
	1.5	Elect Director Timothy F. Price --- For
	1.6	Elect Director Alan H. Schumacher --- For
	1.7	Elect Director Lenard B. Tessler --- Withhold
	1.8	Elect Director Alexander Wolf --- For
07/15/03 - S	Andrew Corp. *ANDW*	034425108	05/27/03	4,800
	1	Issue Shares in Connection with an Acquisition	For	For	Mgmt
	2	Authorize New Class of Preferred Stock	For	For	Mgmt
	3	Approve Increase in Size of Board	For	For	Mgmt
	4	Adjourn Meeting	For	Against	Mgmt
	(ISS note)
05/20/04 - A	Anixter International Inc. *AXE*	035290105	03/31/04	9,400
	1	Elect Directors	For	For	Mgmt
	2	Approve Executive Incentive Bonus Plan	For	For	Mgmt
	3	Amend Omnibus Stock Plan	For	For	Mgmt
06/22/04 - A	Apogee Enterprises, Inc. *APOG*	037598109	04/28/04	25,700
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
04/29/04 - A	Argosy Gaming Co. *AGY*	040228108	03/10/04	28,800
	1	Elect Directors	For	For	Mgmt
	1.1	Elect Director Lance Callis --- For
	1.2	Elect Director John B. Pratt, Sr. --- For
	1.3	Elect Director Edward F. Brennan --- For
	2	Other Business	For	Against	Mgmt
05/26/04 - A	ArthroCare Corp. *ARTC*	043136100	04/26/04	10,000
	1	Elect Directors	For	For	Mgmt
	2	Amend Employee Stock Purchase Plan	For	For	Mgmt
	3	Amend Omnibus Stock Plan	For	Against	Mgmt
	4	Approve Non-Employee Director Omnibus Stock Plan	For	Against	Mgmt
	5	Ratify Auditors	For	For	Mgmt
05/25/04 - A	ATMI, Inc. *ATMI*	00207R101	04/12/04	19,700
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
11/06/03 - A	Avnet, Inc. *AVT*	053807103	09/08/03	12,500
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
	3	Amend Employee Stock Purchase Plan	For	For	Mgmt
	4	Ratify Auditors	For	For	Mgmt
07/22/03 - A	Avx Corp. *AVX*	002444107	05/30/03	13,900
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director John S. Gilbertson --- For
	1.2	Elect Director Michihisa Yamamoto --- For
	1.3	Elect Director Rodney N. Lanthorne --- For
	1.4	Elect Director Carroll A. Campbell, Jr. --- Withhold
	2	Ratify Auditors	For	For	Mgmt
	3	Other Business	For	Against	Mgmt
03/02/04 - A	BEI Technologies, Inc. *BEIQ*	05538P104	01/20/04	18,400
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/11/04 - A	Benchmark Electronics, Inc. *BHE*	08160H101	03/31/04	6,100
	1	Elect Directors	For	For	Mgmt
	2	Amend Omnibus Stock Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
05/20/04 - A	BJ *BJ*	05548J106	04/05/04	8,600
	1	Elect Directors	For	For	Mgmt
	2	Amend Omnibus Stock Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
04/21/04 - A	Borg-Warner, Inc. *BWA*	099724106	03/05/04	5,000
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
	3	Increase Authorized Common Stock	For	For	Mgmt
	4	Ratify Auditors	For	For	Mgmt
04/30/04 - A	Boyd Gaming Corp. *BYD*	103304101	03/31/04	18,800
	1	Approve Merger Agreement	For	For	Mgmt
	2	Elect Directors	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
	4	Amend Omnibus Stock Plan	For	For	Mgmt
04/27/04 - A	Brooks Automation, Inc. *BRKS*	114340102	03/05/04	30,100
	1	Elect Directors	For	For	Mgmt
	2	Amend Stock Option Plan	For	For	Mgmt
	3	Amend Employee Stock Purchase Plan	For	For	Mgmt
05/28/04 - A	Bunge Limited *BG*	G16962105	03/29/04	5,700
		Meeting for Holders of ADRs
	1	TO ELECT JORGE BORN, JR., AS A MEMBER OF THE BOARD OF DIRECTORS TO SERVE UNTIL THE 2007 ANNUAL GENERAL MEETING OF SHAREHOLDERS.	For	For	Mgmt
	2	TO ELECT OCTAVIO CARABALLO, AS A MEMBER OF THE BOARD OF DIRECTORS TO SERVE UNTIL THE 2007 ANNUAL GENERAL MEETING SHAREHOLDERS.	For	For	Mgmt
	3	TO ELECT BERNARD DE LA TOUR D AUVERGNE LAURAGUAIS, AS A MEMBER OF THE BOARD OF DIRECTORS TO SERVE UNTIL THE 2007 ANNUAL GENERAL MEETING OF SHAREHOLDERS.	For	For	Mgmt
	4	TO ELECT WILLIAM ENGELS, AS A MEMBER OF THE BOARD OF DIRECTORS TO SERVE UNTIL THE 2007 ANNUAL GENERAL MEETING OF SHAREHOLDERS.	For	For	Mgmt
	5	Ratify Auditors	For	For	Mgmt
	6	TO APPROVE THE TERMS OF BUNGE LIMITED S AMENDED AND RESTATED NON-EMPLOYEE DIRECTORS EQUITY INCENTIVE PLAN.	For	For	Mgmt
05/26/04 - A	C&D Technologies, Inc. *CHP*	124661109	04/07/04	2,500
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
04/29/04 - A	Cabot Oil & Gas Corp. *COG*	127097103	03/11/04	16,200
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Robert F. Bailey --- For
	1.2	Elect Director John G.L. Cabot --- Withhold
	2	Approve Omnibus Stock Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
05/25/04 - A	Callaway Golf Co. *ELY*	131193104	03/26/04	24,400
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Ronald A. Drapeau --- For
	1.2	Elect Director Samuel H. Armacost --- For
	1.3	Elect Director William C. Baker --- For
	1.4	Elect Director Ronald S. Beard --- For
	1.5	Elect Director John C. Cushman, III --- For
	1.6	Elect Director Yotaro Kobayashi --- Withhold
	1.7	Elect Director Richard L. Rosenfield --- For
	1.8	Elect Director Anthony S. Thornley --- For
	2	Approve Omnibus Stock Plan	For	For	Mgmt
	3	Amend Employee Stock Purchase Plan	For	For	Mgmt
04/22/04 - A	Cambrex Corp. *CBM*	132011107	03/15/04	16,400
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
05/19/04 - A	Caraustar Industries, Inc. *CSAR*	140909102	03/12/04	27,800
	1	Elect Directors	For	For	Mgmt
	2	Approve Non-Employee Director Omnibus Stock Plan	For	Against	Mgmt
	3	Ratify Auditors	For	For	Mgmt
06/15/04 - A	Carreker Corporation *CANI*	144433109	04/27/04	31,700
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
06/24/04 - A	Charming Shoppes, Inc. *CHRS*	161133103	05/05/04	62,600
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
04/14/04 - A	Chattem, Inc. *CHTT*	162456107	02/20/04	17,200
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
04/27/04 - A	Ciber, Inc. *CBR*	17163B102	03/08/04	46,800
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
	3	Amend Employee Stock Purchase Plan	For	For	Mgmt
06/28/04 - A	CKE Restaurants, Inc. *CKR*	12561E105	05/03/04	59,600
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/20/04 - A	Coeur D' Alene Mines Corp. *CDE*	192108108	04/01/04	19,200
	1	Elect Directors	For	For	Mgmt
	1.1	Elect Director Cecil D. Andrus --- For
	1.2	Elect Director James J. Curran --- For
	1.3	Elect Director James A. McClure --- For
	1.4	Elect Director Robert E. Mellor --- For
	1.5	Elect Director John H. Robinson --- For
	1.6	Elect Director J. Kenneth Thompson --- For
	1.7	Elect Director Timothy R. Winterer --- For
	1.8	Elect Director Dennis E. Wheeler --- For
	2	Increase Authorized Common Stock	For	For	Mgmt
	3	Other Business	For	Against	Mgmt
04/22/04 - S	Cognex Corp. *CGNX*	192422103	03/10/04	12,300
	1	Elect Directors	For	For	Mgmt
03/25/04 - A	Coherent, Inc. *COHR*	192479103	02/06/04	7,600
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Bernard J. Couillaud --- For
	1.2	Elect Director Henry E. Gauthier --- Withhold
	1.3	Elect Director John R. Ambroseo --- For
	1.4	Elect Director Charles W. Cantoni --- For
	1.5	Elect Director John H. Hart --- For
	1.6	Elect Director Robert J. Quillinan --- For
	1.7	Elect Director Lawrence Tomlinson --- For
	1.8	Elect Director Frank P. Carrubba --- For
	2	Amend Stock Option Plan	For	For	Mgmt
	3	Amend Stock Option Plan	For	For	Mgmt
	4	Ratify Auditors	For	For	Mgmt
05/07/04 - A	CommScope, Inc. *CTV*	203372107	03/11/04	23,000
	1	Elect Directors	For	For	Mgmt
	2	Amend Omnibus Stock Plan	For	For	Mgmt
	3	Amend Executive Incentive Bonus Plan	For	For	Mgmt
	4	Ratify Auditors	For	For	Mgmt
05/04/04 - A	Cooper Tire & Rubber Co. *CTB*	216831107	03/09/04	18,200
	1	Elect Directors	For	For	Mgmt
	1.1	Elect Director Arthur H. Aronson --- For
	1.2	Elect Director Thomas A. Dattilo --- For
	1.3	Elect Director Byron O. Pond --- For
	2	Ratify Auditors	Against	For	ShrHoldr
10/29/03 - S	Core Laboratories N V *CLB*	N22717107	10/01/03	20,100
	1	Approve Ten-Percent Reduction in Share Capital via Share Cancellation	For	For	Mgmt
	2	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For	Mgmt
	3	Other Business (Non-Voting)	None	None	Mgmt
06/02/04 - A	Core Laboratories N V *CLB*	N22717107	04/26/04	17,800
		Meeting for Holders of ADRs
	1	Elect Supervisory Board Member	For	For	Mgmt
	2	CONFIRMATION AND ADOPTION OF ANNUAL ACCOUNTS	For	For	Mgmt
	3	APPROVAL OF CANCELLATION OF 10% OF OUR ISSUED SHARE CAPITAL.	For	For	Mgmt
	4	APPROVAL OF EXTENSION OF AUTHORITY OF MANAGEMENT BOARD TO REPURCHASE UP TO 10% OF THE ISSUED SHARE CAPITAL OF THE COMPANY UNTIL DECEMBER 1, 2005.	For	For	Mgmt
	5	APPROVAL OF EXTENSION OF AUTHORITY OF SUPERVISORY BOARD TO ISSUE SHARES AND/OR TO GRANT RIGHTS (INCLUDING OPTIONS TO PURCHASE) WITH RESPECT TO OUR COMMON AND/OR PREFERENCE SHARES UNTIL JUNE 1, 2009.	For	For	Mgmt
	6	APPROVAL OF EXTENSION OF AUTHORITY OF SUPERVISORY BOARD TO LIMIT OR ELIMINATE PREEMPTIVE RIGHTS OF HOLDERS OF COMMON SHARES UNTIL JUNE 1, 2009.	For	For	Mgmt
	7	RATIFICATION OF APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS THE COMPANY S INDEPENDENT PUBLIC ACCOUNTANTS FOR THE YEAR ENDED DECEMBER 31, 2004.	For	For	Mgmt
05/19/04 - A	Corn Products International, Inc. *CPO*	219023108	03/22/04	10,400
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
06/16/04 - A	CSK Auto Corp. *CAO*	125965103	04/24/04	7,700
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
	3	Approve Executive Incentive Bonus Plan	For	For	Mgmt
	4	Approve Omnibus Stock Plan	For	For	Mgmt
09/16/03 - A	Cummins , Inc. *CMI*	231021106	08/06/03	5,000
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
	3	Approve Omnibus Stock Plan	For	For	Mgmt
05/26/04 - A	Cytyc Corporation *CYTC*	232946103	04/05/04	11,400
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
	3	Approve Employee Stock Purchase Plan	For	For	Mgmt
	4	Ratify Auditors	For	For	Mgmt
05/15/04 - A	Dillard's, Inc. *DDS*	254067101	03/31/04	14,400
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
	3	Implement ILO Based Code of Conduct	Against	Against	ShrHoldr
05/21/04 - A	Dollar Thrifty Automotive Group, Inc. *DTG*	256743105	03/31/04	9,300
	1	Elect Directors	For	For	Mgmt
11/25/03 - A	Dycom Industries, Inc. *DY*	267475101	10/03/03	12,000
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
05/18/04 - A	EGL, Inc. *EAGL*	268484102	04/02/04	34,000
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
10/28/03 - A	ELKCORP *ELK*	287456107	09/02/03	24,200
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/13/04 - A	Energy Partners, Ltd *EPL*	29270U105	03/17/04	23,600
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Richard A. Bachmann --- For
	1.2	Elect Director John C Bumgarner --- For
	1.3	Elect Director Jerry D. Carlisle --- For
	1.4	Elect Director Harold D. Carter --- For
	1.5	Elect Director Enoch L. Dawkins --- For
	1.6	Elect Director Robert D. Gershen --- For
	1.7	Elect Director William O. Hiltz --- Withhold
	1.8	Elect Director John G. Phillips --- For
	1.9	Elect Director Dr. Eamon M. Kelly --- For
	2	Ratify Auditors	For	For	Mgmt
	3	Other Business	For	Against	Mgmt
05/26/04 - A	Entravision Communication *EVC*	29382R107	04/06/04	10,700
	1	Elect Directors	For	For	Mgmt
	2	Authorize a New Class of Common Stock	For	For	Mgmt
	3	Approve Omnibus Stock Plan	For	For	Mgmt
	4	Ratify Auditors	For	For	Mgmt
04/27/04 - A	Excel Technology, Inc. *XLTC*	30067T103	03/08/04	18,800
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director J. Donald Hill --- For
	1.2	Elect Director Steven Georgiev --- For
	1.3	Elect Director Howard S. Breslow --- For
	1.4	Elect Director Donald E. Weeden --- Withhold
	1.5	Elect Director Ira J. Lamel --- For
	2	Approve Stock Option Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
04/30/04 - A	Ferro Corp. *FOE*	315405100	03/05/04	13,000
	1	Elect Directors	For	For	Mgmt
09/29/03 - A	Fidelity National Financial, Inc. *FNF*	316326107	08/18/03	6,853
	1	Increase Authorized Common Stock	For	For	Mgmt
	2	Elect Directors	For	For	Mgmt
06/22/04 - A	Flowserve Corp. *FLS*	34354P105	04/29/04	18,300
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
09/04/03 - A	Frontier Airlines, Inc. *FRNT*	359065109	07/01/03	24,787
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Samuel D. Addoms --- Withhold
	1.2	Elect Director Hank Brown --- For
	1.3	Elect Director D. Dale Browning --- For
	1.4	Elect Director Paul S. Dempsey --- For
	1.5	Elect Director William B. McNamara --- For
	1.6	Elect Director B. LaRae Orullian --- For
	1.7	Elect Director Jeff S. Potter --- For
	1.8	Elect Director James B. Upchurch --- For
	2	Approve Omnibus Stock Plan	For	For	Mgmt
04/29/04 - A	Furniture Brands International, Inc. *FBN*	360921100	03/01/04	11,100
	1	Elect Directors	For	For	Mgmt
04/23/04 - A	GATX Corp. *GMT*	361448103	03/05/04	29,100
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
	3	Approve Omnibus Stock Plan	For	For	Mgmt
	4	Approve Executive Incentive Bonus Plan	For	For	Mgmt
06/23/04 - A	Genesco Inc. *GCO*	371532102	04/20/04	19,400
	1	Elect Directors	For	For	Mgmt
05/11/04 - A	Global Industries, Ltd. *GLBL*	379336100	04/01/04	71,300
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director William J. Dore --- For
	1.2	Elect Director James C. Day --- For
	1.3	Elect Director Edward P. Djerejian --- For
	1.4	Elect Director Edgar G. Hotard --- For
	1.5	Elect Director Richard A. Pattarozz --- For
	1.6	Elect Director James L. Payne --- For
	1.7	Elect Director Michael J. Pollock --- Withhold
	1.8	Elect Director Luis K. Tellez --- For
05/26/04 - A	Graftech International, Ltd. *GTI*	384313102	03/29/04	32,700
	1	Elect Directors	For	For	Mgmt
	2	Amend Pension and Retirement Medical Insurance Plan	Against	Against	ShrHoldr
05/24/04 - A	Granite Construction Inc. *GVA*	387328107	03/26/04	10,700
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Rebecca A. McDonald --- For
	1.2	Elect Director George B. Searle --- Withhold
	1.3	Elect Director William G. Dorey --- For
	2	Amend Omnibus Stock Plan	For	For	Mgmt
	3	Separate Chairman and CEO Positions	Against	For	ShrHoldr
	4	Ratify Auditors	For	For	Mgmt
08/06/03 - S	Graphic Packaging International Corp	388690109	07/18/03	32,700
	1	Approve Merger Agreement	For	For	Mgmt
05/26/04 - A	GRAY TELEVISION INC. *GTN.A*	389375106	03/30/04	17,200
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director J. Mack Robinson --- For
	1.2	Elect Director Robert S. Prather, Jr. --- For
	1.3	Elect Director Hilton H. Howell, Jr. --- For
	1.4	Elect Director William E. Mayher, III --- For
	1.5	Elect Director Richard L. Boger --- For
	1.6	Elect Director Ray M. Deaver --- Withhold
	1.7	Elect Director T.L. Elder --- For
	1.8	Elect Director Howell W. Newton --- For
	1.9	Elect Director Hugh E. Norton --- For
	1.10	Elect Director Harriet J. Robinson --- For
	2	Amend Omnibus Stock Plan	For	For	Mgmt
	3	Increase Authorized Common Stock	For	For	Mgmt
05/11/04 - A	Grey Wolf, Inc. *GW*	397888108	03/25/04	64,800
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director James K. B. Nelson --- Withhold
	1.2	Elect Director Robert E. Rose --- For
06/10/04 - A	Hancock Fabrics, Inc. *HKF*	409900107	04/15/04	14,600
	1	Elect Directors	For	For	Mgmt
	1.1	Elect Director Roger T. Knox --- For
	1.2	Elect Director Bernard J. Wein --- For
	2	Ratify Auditors	For	For	Mgmt
	3	Other Business	For	Against	Mgmt
05/04/04 - A	Hanger Orthopedic Group, Inc. *HGR*	41043F208	03/18/04	15,700
	1	Elect Directors	For	For	Mgmt
05/20/04 - A	Hanover Compressor Co. *HC*	410768105	03/31/04	56,000
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
04/28/04 - A	Harleysville Group, Inc. *HGIC*	412824104	03/03/04	9,400
	1	Elect Directors	For	For	Mgmt
04/20/04 - A	Hawaiian Electric Industries, Inc. *HE*	419870100	02/11/04	2,400
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Victor Hao Li, S.J.D. --- For
	1.2	Elect Director T. Michael May --- For
	1.3	Elect Director Diane J. Plotts --- For
	1.4	Elect Director Kelvin H. Taketa --- For
	1.5	Elect Director Jeffrey N. Watanabe --- Withhold
	2	Ratify Auditors	For	For	Mgmt
03/16/04 - A	HEICO Corporation *HEI*	422806109	01/20/04	15,100
	1	Elect Directors	For	For	Mgmt
	1.1	Elect Director Samuel L. Higginbottom --- For
	1.2	Elect Director Wolfgang Mayrhuber --- For
	1.3	Elect Director Laurans A. Mendelson --- For
	1.4	Elect Director Eric A. Mendelson --- For
	1.5	Elect Director Victor H. Mendelson --- For
	1.6	Elect Director Albert Morrison, Jr. --- For
	1.7	Elect Director Dr. Alan Schriesheim --- For
03/16/04 - A	HEICO Corporation *HEI*	422806208	01/20/04	1,510
	1	Elect Directors	For	For	Mgmt
	1.1	Elect Director Samuel L. Higginbottom --- For
	1.2	Elect Director Wolfgang Mayrhuber --- For
	1.3	Elect Director Laurans A. Mendelson --- For
	1.4	Elect Director Eric A. Mendelson --- For
	1.5	Elect Director Victor H. Mendelson --- For
	1.6	Elect Director Albert Morrison, Jr. --- For
	1.7	Elect Director Dr. Alan Schriesheim --- For
05/12/04 - A	Heidrick & Struggles International, Inc. *HSII*	422819102	04/02/04	30,100
	1	Elect Directors	For	For	Mgmt
	1.1	Elect Director Richard I. Beattie --- For
	1.2	Elect Director John A. Fazio --- For
	1.3	Elect Director Thomas J. Friel --- For
	1.4	Elect Director Antonio Borges --- For
04/28/04 - A	Helix Technology Corp. *HELX*	423319102	03/08/04	17,100
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Gideon Argov --- For
	1.2	Elect Director Frank Gabron --- Withhold
	1.3	Elect Director Robert H. Hayes --- For
	1.4	Elect Director Robert J. Lepofsky --- For
	1.5	Elect Director Marvin G. Schorr --- For
	1.6	Elect Director Alfred Woollacott, III --- For
	1.7	Elect Director Mark S. Wrighton --- For
	2	Amend Omnibus Stock Plan	For	For	Mgmt
05/07/04 - A	Heritage Property Investment Trust Inc *HTG*	42725M107	03/12/04	11,600
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Joseph L. Barry --- For
	1.2	Elect Director Richard C. Garrison --- For
	1.3	Elect Director David W. Laughton --- For
	1.4	Elect Director Kevin C. Phelan --- Withhold
	2	Other Business	For	Against	Mgmt
05/25/04 - A	HIGHLAND HOSPITALITY CORP *HIH*	430141101	04/02/04	15,200
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
05/25/04 - A	Hooper Holmes, Inc. *HH*	439104100	04/09/04	74,400
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/11/04 - A/S	HUB INTERNATIONAL LIMITED *HBG.*	44332P101	03/23/04	17,000
	1	Approve Continuation of Company Under Canadian Business Corporation Act	For	For	Mgmt
	2	Adopt New By-Laws	For	Against	Mgmt
	3	If the Continuance Becomes Effective, Elect Martin Hughes, Richard Gulliver, Bruce Guthart, Anthony Griffiths, Paul Murray, Bradley Martin, Frank Wilkinson, Stuart Ross, Edward Lyman Jr as Directors	For	For	Mgmt
	4	If the Continuance Does Not Become Effective, Elect Martin Hughes, Richard Gulliver, Bruce Guthart, Anthony Griffiths, Paul Murray, Bradley Martin, Frank Wilkinson, Scott Ross, Gil Broome as Directors	For	For	Mgmt
	5	Approve Auditors and Authorize Board to Fix Remuneration of Auditors	For	For	Mgmt
05/28/04 - A	ICU Medical, Inc. *ICUI*	44930G107	04/05/04	4,900
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/14/04 - A	IMC Global Inc. *IGL*	449669100	03/31/04	32,000
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/11/04 - A	Inet Technologies, Inc. *INET*	45662V105	04/01/04	35,600
	1	Elect Directors	For	For	Mgmt
	2	Amend Employee Stock Purchase Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
04/28/04 - A	Insituform Technologies, Inc. *INSU*	457667103	03/01/04	13,400
	1	Elect Directors	For	For	Mgmt
05/27/04 - A	Intermune Inc. *ITMN*	45884X103	04/07/04	12,600
	1	Elect Directors	For	For	Mgmt
	2	Increase Authorized Common Stock	For	For	Mgmt
	3	Amend Omnibus Stock Plan	For	For	Mgmt
	4	Amend Non-Employee Director Stock Option Plan	For	For	Mgmt
	5	Ratify Auditors	For	For	Mgmt
09/23/03 - A	Interstate Bakeries Corp. *IBC*	46072H108	08/08/03	31,700
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/05/04 - A	Investment Technology Group, Inc. *ITG*	46145F105	03/08/04	9,300
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
12/09/03 - A	Invivo Corp.	461858102	10/31/03	10,856
	1	Elect Directors	For	For	Mgmt
	1.1	Elect Director George S. Sarlo --- For
	1.2	Elect Director James B. Hawkins --- For
	1.3	Elect Director Ernest C. Goggio --- For
	1.4	Elect Director Laureen DeBuono --- For
	1.5	Elect Director Randy Lindholm --- For
	2	Amend Stock Option Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
	4	Other Business	For	Against	Mgmt
11/20/03 - A	JLG Industries, Inc. *JLG*	466210101	10/01/03	68,200
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
04/22/04 - A	John H. Harland Co. *JH*	412693103	03/03/04	14,200
	1	Elect Directors	For	For	Mgmt
05/18/04 - A	Journal Register Co. *JRC*	481138105	03/19/04	24,100
	1	Elect Directors	For	For	Mgmt
	2	Amend Omnibus Stock Plan	For	For	Mgmt
	3	Amend Executive Incentive Bonus Plan	For	For	Mgmt
	4	Ratify Auditors	For	For	Mgmt
05/18/04 - A	Kadant Inc *KAI*	48282T104	04/02/04	26,700
	1	Elect Directors	For	For	Mgmt
05/27/04 - A	Keane, Inc. *KEA*	486665102	03/29/04	8,400
	1	Elect Directors	For	For	Mgmt
	2	Amend Employee Stock Purchase Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
07/23/03 - A	KEMET Corporation *KEM*	488360108	06/13/03	60,500
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	Against	Mgmt
04/27/04 - A	Kirby Corp. *KEX*	497266106	03/01/04	5,800
	1	Elect Directors	For	For	Mgmt
	2	Amend Non-Employee Director Omnibus Stock Plan	For	For	Mgmt
08/12/03 - A	La-Z-Boy Inc. *LZB*	505336107	06/25/03	4,055
	1	Elect Directors	For	For	Mgmt
	2	Amend Non-Employee Director Restricted Stock Plan	For	For	Mgmt
04/06/04 - A	Ladish Co., Inc. *LDSH*	505754200	03/01/04	45,201
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Lawrence W. Bianchi --- For
	1.2	Elect Director James C. Hill --- For
	1.3	Elect Director Leon Kranz --- Withhold
	1.4	Elect Director J. Robert Peart --- For
	1.5	Elect Director Bradford T. Whitmore --- For
	1.6	Elect Director Kerry L. Woody --- For
	2	Restore Voting Power	For	For	ShrHoldr
03/09/04 - A	Learning Tree International, Inc. *LTRE*	522015106	01/16/04	3,000
	1	Elect Directors	For	For	Mgmt
10/29/03 - A	LeCroy Corp. *LCRY*	52324W109	09/02/03	16,200
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
	3	Amend Employee Stock Purchase Plan	For	For	Mgmt
06/15/04 - A	LifePoint Hospitals, Inc. *LPNT*	53219L109	04/16/04	15,800
	1	Elect Directors	For	For	Mgmt
	2	Amend Omnibus Stock Plan	For	For	Mgmt
	3	Amend Non-Employee Director Omnibus Stock Plan	For	For	Mgmt
	4	Approve Executive Incentive Bonus Plan	For	For	Mgmt
	5	Ratify Auditors	For	For	Mgmt
05/11/04 - A	LIN TV Corp. *TVL*	532774106	03/26/04	16,800
	1	Elect Directors	For	For	Mgmt
	2	Establish Range For Board Size	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
05/06/04 - A	Linens 'n Things, Inc. *LIN*	535679104	03/08/04	6,600
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
05/25/04 - A	Longs Drug Stores Corp. *LDG*	543162101	04/01/04	25,100
	1	Elect Directors	For	For	Mgmt
	2	Separate Chairman and CEO Positions	Against	For	ShrHoldr
	3	Ratify Auditors	For	For	Mgmt
05/25/04 - A	Martin Marietta Materials, Inc. *MLM*	573284106	03/19/04	18,900
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Marcus C. Bennett --- Withhold
	1.2	Elect Director Dennis L. Rediker --- For
	2	Ratify Auditors	For	For	Mgmt
05/18/04 - A	Massey Energy Company *MEE*	576206106	03/31/04	11,400
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
	3	Submit Severance Agreement (Change-in-Control) to Shareholder Vote	Against	Against	ShrHoldr
05/19/04 - A	MCG CAPITAL CORP *MCGC*	58047P107	04/13/04	11,500
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/19/04 - A	Mentor Graphics Corp. *MENT*	587200106	03/16/04	26,100
	1	Elect Directors	For	For	Mgmt
	2	Amend Employee Stock Purchase Plan	For	For	Mgmt
	3	Approve Employee Stock Purchase Plan	For	For	Mgmt
	4	Amend Stock Option Plan	For	For	Mgmt
	5	Increase Authorized Common Stock	For	For	Mgmt
03/02/04 - A	Mesa Air Group, Inc. *MESA*	590479101	01/09/04	80,600
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	Against	Mgmt
	3	Submit Shareholder Rights Plan (Poison Pill) to Shareholder Vote	Against	For	ShrHoldr
	4	Ratify Auditors	For	For	Mgmt
06/30/03 - S	Methanex Corp. *MX.*	59151K108	05/30/03	12,600
	1	Approve Purchase and Cancellation of 9,000,000 Shares	For	For	Mgmt
05/13/04 - A	Methanex Corp. *MX.*	59151K108	03/22/04	20,100
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
	3	Authorize Board to Fix Remuneration of the Auditors	For	For	Mgmt
11/21/03 - A	Micros Systems, Inc. *MCRS*	594901100	10/08/03	6,600
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
	3	Amend Stock Option Plan	For	For	Mgmt
05/26/04 - A	Minerals Technologies, Inc. *MTX*	603158106	03/29/04	7,700
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/13/04 - A	MKS Instruments, Inc. *MKSI*	55306N104	03/26/04	22,900
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director James G. Berges --- For
	1.2	Elect Director Richard S. Chute --- Withhold
	1.3	Elect Director Owen W. Robbins --- For
	2	Approve Omnibus Stock Plan	For	Against	Mgmt
	3	Amend Non-Employee Director Stock Option Plan	For	For	Mgmt
	4	Amend Employee Stock Purchase Plan	For	For	Mgmt
	5	Amend Employee Stock Purchase Plan	For	For	Mgmt
	6	Ratify Auditors	For	For	Mgmt
03/26/04 - S	NCO Group, Inc. *NCOG*	628858102	02/19/04	15,700
	1	Approve Merger Agreement	For	For	Mgmt
05/17/04 - A	NCO Group, Inc. *NCOG*	628858102	04/02/04	16,800
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director W. C. Dunkelberg Ph.D. --- For
	1.2	Elect Director Allen F. Wise --- Withhold
	2	Approve Omnibus Stock Plan	For	For	Mgmt
06/15/04 - A	NeighborCare Inc. *NCRX*	64015Y104	04/19/04	10,800
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
06/09/04 - A	Newpark Resources, Inc. *NR*	651718504	04/14/04	60,900
	1	Elect Directors	For	For	Mgmt
	2	Approve Non-Employee Director Stock Option Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
04/22/04 - A	NMS Communications Corp. *NMSS*	629248105	03/01/04	39,100
	1	Elect Directors	For	For	Mgmt
05/12/04 - A	NS Group, Inc. *NSS*	628916108	03/04/04	24,000
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
	3	Approve Omnibus Stock Plan	For	For	Mgmt
	4	Approve Non-Employee Director Omnibus Stock Plan	For	For	Mgmt
05/13/04 - A	O'Charley's Inc. *CHUX*	670823103	03/18/04	20,300
	1	Elect Directors	For	For	Mgmt
04/21/04 - A	Odyssey Re Holdings Corp. *ORH*	67612W108	03/05/04	15,500
	1	Elect Directors	For	For	Mgmt
05/25/04 - A	OMI Corporation - New *OMM*	Y6476W104	03/24/04	68,800
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Michael Klebanoff --- Withhold
	1.2	Elect Director Donald C. Trauscht --- For
	2	Ratify Auditors	For	For	Mgmt
03/25/04 - A	OMNOVA Solutions Inc. *OMN*	682129101	02/02/04	61,700
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/04/04 - A	Oshkosh B *GOSHA*	688222207	03/05/04	11,800
	1	Elect Directors	For	For	Mgmt
05/04/04 - A	Packaging Corporation of America *PKG*	695156109	03/15/04	22,400
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Henry F. Frigon --- For
	1.2	Elect Director Louis S. Holland --- For
	1.3	Elect Director Justin S. Huscher --- For
	1.4	Elect Director Samuel M. Mencoff --- Withhold
	1.5	Elect Director Thomas S. Souleles --- Withhold
	1.6	Elect Director Paul T. Stecko --- For
	1.7	Elect Director Rayford K. Williamson --- For
	2	Ratify Auditors	For	For	Mgmt
05/13/04 - A	Papa John *PZZA*	698813102	03/26/04	9,500
	1	Elect Directors	For	For	Mgmt
	2	Approve Non-Employee Director Stock Option Plan	For	Against	Mgmt
	3	Ratify Auditors	For	For	Mgmt
05/27/04 - PC	Payless Shoesource, Inc. *PSS*	704379106	04/01/04	53,600
		MANAGEMENT PROXY (White Card)
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
		DISSIDENT PROXY (Green Card)
	1	Elect Directors (Opposition Slate)	Against	DoNotVote	Mgmt
	2	Ratify Auditors	For	DoNotVote	Mgmt
05/06/04 - A	Peabody Energy Corp. *BTU*	704549104	03/15/04	10,300
	1	Elect Directors	For	For	Mgmt
	1.1	Elect Director William A. Coley --- For
	1.2	Elect Director Irl F. Engelhardt --- For
	1.3	Elect Director William C. Rusnack --- For
	1.4	Elect Director Alan H. Washkowitz --- For
	2	Ratify Auditors	For	For	Mgmt
	3	Approve Omnibus Stock Plan	For	For	Mgmt
	4	Require Majority of Independent Directors on Board	Against	For	ShrHoldr
06/03/04 - A	Pegasystems Inc. *PEGA*	705573103	04/14/04	7,900
	1	Elect Directors	For	For	Mgmt
	2	Increase Authorized Common Stock	For	For	Mgmt
	3	Approve Omnibus Stock Plan	For	Against	Mgmt
	4	Ratify Auditors	For	For	Mgmt
05/26/04 - A	Penn National Gaming, Inc. *PENN*	707569109	04/02/04	8,700
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
04/30/04 - A	Pentair, Inc. *PNR*	709631105	03/01/04	7,400
	1	Elect Directors	For	For	Mgmt
	2	Approve Outside Director Stock Options in Lieu of Cash	For	Against	Mgmt
	3	Approve Omnibus Stock Plan	For	For	Mgmt
	4	Approve Employee Stock Purchase Plan	For	Against	Mgmt
	5	Approve Employee Stock Purchase Plan	For	Against	Mgmt
	6	Ratify Auditors	For	For	Mgmt
05/12/04 - A	Perot Systems Corp. *PER*	714265105	03/15/04	30,100
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Ross Perot --- For
	1.2	Elect Director Ross Perot, Jr. --- For
	1.3	Elect Director Steve Blasnik --- For
	1.4	Elect Director John S.T. Gallagher --- For
	1.5	Elect Director Carl Hahn --- For
	1.6	Elect Director Desoto Jordan --- Withhold
	1.7	Elect Director Thomas Meurer --- For
	1.8	Elect Director Cecil H (c.H.) Moore Jr --- For
05/28/04 - A	Phelps Dodge Corp. *PD*	717265102	04/08/04	7,200
	1	Elect Directors	For	For	Mgmt
	2	Cease Charitable Contributions	Against	Against	ShrHoldr
05/04/04 - A	Pinnacle Entertainment, Inc. *PNK*	723456109	03/31/04	20,400
	1	Elect Directors	For	For	Mgmt
05/13/04 - A	Playtex Products, Inc. *PYX*	72813P100	03/26/04	57,200
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director D. Wheat --- For
	1.2	Elect Director M. Gallagher --- Withhold
	1.3	Elect Director G. Forbes --- Withhold
	1.4	Elect Director M. Eisenson --- For
	1.5	Elect Director R. Haas --- For
	1.6	Elect Director R. Harris --- For
	1.7	Elect Director C. Merrifield --- For
	1.8	Elect Director S. Nowakowski --- For
	1.9	Elect Director T. Robichaux --- For
	2	Ratify Auditors	For	For	Mgmt
08/13/03 - A	Precision Castparts Corp. *PCP*	740189105	06/20/03	5,100
	1	Elect Directors	For	For	Mgmt
	2	Amend Employee Stock Purchase Plan	For	For	Mgmt
05/26/04 - A	Proquest Company *PQE*	74346P102	03/31/04	10,700
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director David Bonderman --- Withhold
	1.2	Elect Director David G. Brown --- For
	1.3	Elect Director Alan W. Aldworth --- For
	1.4	Elect Director William E. Oberndorf --- For
	1.5	Elect Director James P. Roemer --- For
	1.6	Elect Director Gary L. Roubos --- For
	1.7	Elect Director Todd S. Nelson --- For
	1.8	Elect Director Linda G. Roberts --- For
	1.9	Elect Director William J. White --- Withhold
	2	Amend Omnibus Stock Plan	For	For	Mgmt
05/18/04 - A	Province Healthcare Co. *PRV*	743977100	03/23/04	31,700
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
06/03/04 - A	PTEK Holdings, Inc. *PTEK*	69366M104	04/01/04	47,900
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
05/20/04 - A	Rayonier Inc. *RYN*	754907103	03/22/04	6,338
	1	Elect Directors	For	For	Mgmt
	2	Increase Authorized Common Stock	For	For	Mgmt
	3	Amend Omnibus Stock Plan	For	For	Mgmt
04/22/04 - A	Regal-Beloit Corp. *RBC*	758750103	02/27/04	13,000
	1	Elect Directors	For	For	Mgmt
05/26/04 - A	Roper Industries, Inc. *ROP*	776696106	03/31/04	11,600
	1	Elect Directors	For	For	Mgmt
	2	Amend Omnibus Stock Plan	For	For	Mgmt
	3	Other Business	For	Against	Mgmt
04/30/04 - A	RTI International Metals, Inc. *RTI*	74973W107	03/01/04	17,000
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
	3	Approve Omnibus Stock Plan	For	For	Mgmt
10/07/03 - A	Ruby Tuesday, Inc. *RI*	781182100	08/12/03	6,500
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
		Shareholder Proposal
	3	Report on Impact of Genetically Engineered Foods	Against	Against	ShrHoldr
04/21/04 - A	Russell Corp. *RML*	782352108	03/05/04	13,300
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director C.V. Nalley III --- For
	1.2	Elect Director John R. Thomas --- For
	1.3	Elect Director John A. White --- Withhold
	2	Change State of Incorporation from Alabama to Delaware	For	For	Mgmt
05/05/04 - A	Ryan's Restaurant Group, Inc. *RYAN*	783519101	03/03/04	17,100
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Charles D. Way --- For
	1.2	Elect Director G. Edwin Mccranie --- For
	1.3	Elect Director James M. Shoemaker, Jr. --- Withhold
	1.4	Elect Director Barry L. Edwards --- For
	1.5	Elect Director Harold K. Roberts, Jr. --- For
	1.6	Elect Director Brian S. Mackenzie --- For
	1.7	Elect Director James D. Cockman --- For
	2	Change Company Name	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
05/26/04 - A	Simpletech, Inc *STEC*	828823104	04/09/04	45,600
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
06/01/04 - A	Six Flags, Inc. *PKS*	83001P109	04/08/04	50,100
	1	Elect Directors	For	For	Mgmt
	2	Approve Stock Option Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
05/04/04 - A	SkyWest, Inc. *SKYW*	830879102	03/31/04	16,600
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Jerry C. Atkin --- For
	1.2	Elect Director J. Ralph Atkin --- Withhold
	1.3	Elect Director Steven F. Udvar-Hazy --- Withhold
	1.4	Elect Director Ian M. Cumming --- For
	1.5	Elect Director W. Steve Albrecht --- For
	1.6	Elect Director Mervyn K. Cox --- For
	1.7	Elect Director Sidney J. Atkin --- Withhold
	1.8	Elect Director Hyrum W. Smith --- For
	1.9	Elect Director Robert G. Sarver --- For
	2	Ratify Auditors	For	For	Mgmt
03/10/04 - A	Spartech Corp. *SEH*	847220209	01/12/04	8,700
	1	Elect Directors	For	For	Mgmt
	2	Increase Authorized Common Stock	For	For	Mgmt
	3	Approve Omnibus Stock Plan	For	For	Mgmt
	4	Ratify Auditors	For	For	Mgmt
06/24/04 - A	Steelcase Inc. *SCS*	858155203	04/28/04	23,000
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director James P. Hackett --- For
	1.2	Elect Director David W. Joos --- For
	1.3	Elect Director P. Craig Welch, Jr. --- Withhold
06/17/04 - A	Steiner Leisure Ltd. *STNR*	P8744Y102	04/22/04	21,500
		Meeting for Holders of ADRs
	1	Elect Directors	For	For	Mgmt
	2	APPROVAL OF 2004 EQUITY INCENTIVE PLAN.	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
05/19/04 - A	Steinway Musical Instruments, Inc. *LVB*	858495104	03/25/04	8,820
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Kyle R. Kirkland --- Withhold
	1.2	Elect Director Dana D. Messina --- Withhold
	1.3	Elect Director Bruce A. Stevens --- Withhold
	1.4	Elect Director John M. Stoner, Jr. --- Withhold
	1.5	Elect Director A. Clinton Allen --- For
	1.6	Elect Director Rudolph K. Kluiber --- For
	1.7	Elect Director Peter McMillan --- For
	2	Ratify Auditors	For	For	Mgmt
04/26/04 - A	Sterling Bancshares, Inc. /TX *SBIB*	858907108	02/27/04	30,700
	1	Elect Directors	For	For	Mgmt
	2	Approve Employee Stock Purchase Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
04/13/04 - A	Stewart Enterprises, Inc. *STEI*	860370105	02/17/04	90,200
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/20/04 - A	Stone Energy Corp. *SGY*	861642106	03/25/04	6,600
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
	3	Approve Omnibus Stock Plan	For	For	Mgmt
11/12/03 - A	SWS Group, Inc. *SWS*	78503N107	09/24/03	5,900
	1	Elect Directors	For	For	Mgmt
	1.1	Elect Director Don A. Buchholz --- For
	1.2	Elect Director Donald W. Hultgren --- For
	1.3	Elect Director Brodie L. Cobb --- For
	1.4	Elect Director J. Jan Collmer --- For
	1.5	Elect Director Ronald W. Haddock --- For
	1.6	Elect Director R. Jan LeCroy --- For
	1.7	Elect Director Frederick R. Meyer --- For
	1.8	Elect Director Jon L. Mosle, Jr. --- For
	2	Approve Restricted Stock Plan	For	For	Mgmt
	3	Approve Deferred Compensation Plan	For	For	Mgmt
	4	Other Business	For	Against	Mgmt
05/19/04 - A	Technitrol, Inc. *TNL*	878555101	03/05/04	66,000
	1	Elect Directors	For	For	Mgmt
04/28/04 - A	Teledyne Technologies, Inc. *TDY*	879360105	03/08/04	19,900
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/25/04 - A	Terex Corp. *TEX*	880779103	03/29/04	11,700
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
	3	Amend Omnibus Stock Plan	For	For	Mgmt
	4	Approve Executive Incentive Bonus Plan	For	For	Mgmt
	5	Approve Employee Stock Purchase Plan	For	For	Mgmt
	6	Approve Deferred Compensation Plan	For	For	Mgmt
	7	Approve Outside Director Stock Options in Lieu of Cash	For	For	Mgmt
06/04/04 - A	The J. Jill Group, Inc. *JILL*	466189107	04/05/04	17,400
	1	Elect Directors	For	For	Mgmt
05/04/04 - A	The Manitowoc Company, Inc. *MTW*	563571108	02/25/04	15,600
	1	Elect Directors	For	For	Mgmt
	2	Approve Non-Employee Director Omnibus Stock Plan	For	For	Mgmt
11/21/03 - A	The Reader's Digest Association, Inc. *RDA*	755267101	09/26/03	74,500
	1	Elect Directors	For	For	Mgmt
05/13/04 - A	Too, Inc. *TOO*	890333107	03/26/04	26,500
	1	Elect Directors	For	For	Mgmt
	2	Amend Executive Incentive Bonus Plan	For	For	Mgmt
05/20/04 - A	Tower Automotive, Inc. *TWR*	891707101	04/06/04	22,300
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director S. A. Johnson --- For
	1.2	Elect Director Kathleen Ligocki --- For
	1.3	Elect Director Anthony G. Fernandes --- For
	1.4	Elect Director Juergen M. Geissinger --- For
	1.5	Elect Director Ali Jenab --- For
	1.6	Elect Director F. Joseph Loughrey --- For
	1.7	Elect Director James R. Lozelle --- Withhold
	1.8	Elect Director Georgia R. Nelson --- For
	1.9	Elect Director Enrique Zambrano --- For
	2	Amend Employee Stock Purchase Plan	For	For	Mgmt
04/29/04 - A	Tredegar Corporation *TG*	894650100	02/20/04	12,700
	1	Elect Directors	For	For	Mgmt
	2	Approve Omnibus Stock Plan	For	For	Mgmt
04/28/04 - A	Trex Company, Inc. *TWP*	89531P105	03/12/04	2,400
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/19/04 - A	Trimble Navigation Ltd. *TRMB*	896239100	03/23/04	11,550
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Steven W. Berglund --- For
	1.2	Elect Director Robert S. Cooper --- For
	1.3	Elect Director John B. Goodrich --- Withhold
	1.4	Elect Director William Hart --- For
	1.5	Elect Director Ulf J. Johansson --- For
	1.6	Elect Director Bradford W. Parkinson --- Withhold
	1.7	Elect Director Nickolas W. VandeSteeg --- For
	2	Amend Stock Option Plan	For	For	Mgmt
	3	Amend Employee Stock Purchase Plan	For	For	Mgmt
	4	Ratify Auditors	For	For	Mgmt
05/10/04 - A	Trinity Industries, Inc. *TRN*	896522109	03/26/04	28,500
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director David W. Biegler --- For
	1.2	Elect Director Craig J. Duchossois --- Withhold
	1.3	Elect Director Ronald J. Gafford --- For
	1.4	Elect Director Barry J. Galt --- For
	1.5	Elect Director Clifford J. Grum --- For
	1.6	Elect Director Jess T. Hay --- Withhold
	1.7	Elect Director Diana S. Natalicio --- For
	1.8	Elect Director Timothy R. Wallace --- For
	2	Approve Omnibus Stock Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
05/14/04 - A	TriQuint Semiconductor, Inc. *TQNT*	89674K103	03/24/04	41,600
	1	Elect Directors	For	For	Mgmt
	2	Amend Stock Option Plan	For	For	Mgmt
	3	Ratify Auditors	For	For	Mgmt
07/21/03 - A	Triumph Group, Inc. *TGI*	896818101	05/30/03	11,500
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Richard C. Ill --- Withhold
	1.2	Elect Director John R. Bartholdson --- For
	1.3	Elect Director Richard C. Gozon --- For
	1.4	Elect Director Claude F. Kronk --- For
	1.5	Elect Director Joseph M. Silvestri --- For
	1.6	Elect Director William O. Albertini --- For
	1.7	Elect Director George S. Simpson --- For
	2	Ratify Auditors	For	For	Mgmt
05/12/04 - A	Tupperware Corp. *TUP*	899896104	03/15/04	29,600
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
04/13/04 - A	United Defense Inds Inc *UDI*	91018B104	02/13/04	7,900
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Frank C. Carlucci --- Withhold
	1.2	Elect Director Peter J. Clare --- For
	1.3	Elect Director William E. Conway, Jr. --- For
	1.4	Elect Director C. Thomas Faulders, III --- For
	1.5	Elect Director Robert J. Natter --- For
	1.6	Elect Director J. H. Binford Peay, III --- For
	1.7	Elect Director Thomas W. Rabaut --- For
	1.8	Elect Director Francis Raborn --- For
	1.9	Elect Director John M. Shalikashvili --- Withhold
	2	Amend Omnibus Stock Plan	For	For	Mgmt
05/04/04 - A	United National Group, Ltd. *UNGL*	91103X102	03/31/04	13,800
	1	Elect Director Saul A. Fox	For	Withhold	Mgmt
	2	Elect Director David R. Bradley	For	Withhold	Mgmt
	3	Elect Director Troy W. Thacker	For	Withhold	Mgmt
	4	Elect Director W. Dexter Paine, III	For	Withhold	Mgmt
	5	Elect Director Angelos J. Dassios	For	Withhold	Mgmt
	6	Elect Director Michael J. McDonough	For	Withhold	Mgmt
	7	Elect Director Russell C. Ball, III	For	For	Mgmt
	8	Elect Director John J. Hendrickson	For	For	Mgmt
	9	Elect Director Edward J. Noonan	For	For	Mgmt
	10	Elect Director Kenneth J. Singleton	For	For	Mgmt
	11	Approve Omnibus Stock Plan	For	For	Mgmt
	12	Ratify Auditors	For	For	Mgmt
	13	Elect Directors	For	Split	Mgmt
	13.1	Elect Director Saul A. Fox --- Withhold
	13.2	Elect Director Troy W. Thacker --- Withhold
	13.3	Elect Director Angelos J. Dassios --- Withhold
	13.4	Elect Director David N. King --- For
	13.5	Elect Director Saul A. Fox --- Withhold
	13.6	Elect Director Troy W. Thacker --- Withhold
	13.7	Elect Director Angelos J. Dassios --- Withhold
	13.8	Elect Director David R. Bradley --- Withhold
	13.9	Elect Director Alan Bossin --- For
	13.10	Elect Director Michael J. Tait --- For
	13.11	Elect Director Janita Burke Waldron --- For
	13.12	Elect Director Kaela Keen --- For
	13.13	Elect Director Saul B. Fox --- Withhold
	13.14	Elect Director Troy W. Thacker --- Withhold
	13.15	Elect Director Angelos J. Dassios --- Withhold
	13.16	Elect Director David R. Bradley --- Withhold
	13.17	Elect Director Kevin L. Tate --- Withhold
	14	Ratify Auditors	For	For	Mgmt
	15	Ratify Auditors	For	For	Mgmt
	16	Ratify Auditors	For	For	Mgmt
04/27/04 - A	United States Steel Corp. *X*	912909108	02/27/04	23,500
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/25/04 - A	Valeant Pharmaceuticals Intl. *VRX*	91911X104	04/14/04	26,900
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
04/26/04 - A	Valmont Industries, Inc. *VMI*	920253101	03/01/04	17,200
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/07/04 - A	Veeco Instruments, Inc. *VECO*	922417100	03/09/04	53,800
	1	Elect Directors	For	For	Mgmt
	2	Amend Employee Stock Purchase Plan	For	For	Mgmt
	3	Amend Stock Option Plan	For	For	Mgmt
	4	Ratify Auditors	For	For	Mgmt
12/02/03 - A	Veritas DGC Inc. *VTS*	92343P107	11/06/03	21,800
	1	Elect Directors	For	For	Mgmt
	2	Increase Authorized Common Stock	For	For	Mgmt
	3	Amend Employee Stock Purchase Plan	For	For	Mgmt
	4	Approve Option Exchange Program	For	Against	Mgmt
05/11/04 - A	Viad Corp. *VVI*	92552R109	03/12/04	6,500
	1	Elect Directors	For	For	Mgmt
	2	Amend Omnibus Stock Plan	For	For	Mgmt
	3	Approve Reverse Stock Split	For	For	Mgmt
	4	Ratify Auditors	For	For	Mgmt
05/05/04 - A	Viasys Healthcare, Inc. *VAS*	92553Q209	03/10/04	13,800
	1	Elect Directors	For	For	Mgmt
05/11/04 - A	Vintage Petroleum, Inc. *VPI*	927460105	03/24/04	25,700
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director William L. Abernathy --- For
	1.2	Elect Director Bryan H. Lawrence --- Withhold
	1.3	Elect Director Gerald J. Maier --- Withhold
	2	Ratify Auditors	For	Against	Mgmt
05/12/04 - A	W-H Energy Services, Inc. *WHQ*	92925E108	03/30/04	41,100
	1	Elect Directors	For	For	Mgmt
	2	Amend Stock Option Plan	For	For	Mgmt
	3	Approve Stock Award to Executive	For	For	Mgmt
05/05/04 - A	Watts Water Technologies *WTS*	942749102	03/26/04	15,900
	1	Elect Directors	For	Split	Mgmt
	1.1	Elect Director Timothy P. Horne --- For
	1.2	Elect Director Kenneth J. Mcavoy --- Withhold
	1.3	Elect Director John K. Mcgillicuddy --- For
	1.4	Elect Director Gordon W. Moran --- For
	1.5	Elect Director Daniel J. Murphy, III --- For
	1.6	Elect Director Patrick S. O'Keefe --- For
	1.7	Elect Director Roger A. Young --- For
	2	Ratify Auditors	For	For	Mgmt
	3	Approve Omnibus Stock Plan	For	For	Mgmt
05/19/04 - A	Westinghouse Air Brake Technologies Corp *WAB*	929740108	03/22/04	61,600
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt
05/06/04 - A	Wild Oats Markets, Inc. *OATS*	96808B107	03/08/04	40,600
	1	Elect Directors	For	For	Mgmt
	2	Ratify Auditors	For	For	Mgmt

IVY VALUE FUND

Proxy Voting Record

COSTCO WHOLESALE CORPORATION			COST	Annual Meeting Date: 01/29/2004
Issuer: 22160K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	For	Yes
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

EMERSON ELECTRIC CO.			EMR	Annual Meeting Date: 02/03/2004
Issuer: 291011		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BANK OF AMERICA CORPORATION			BAC	Special Meeting Date: 03/17/2004
Issuer: 060505		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE MERGER AGREEMENT		Management	For	No
02	AMEND STOCK OPTION PLAN		Management	For	No
03	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
04	APPROVE MOTION TO ADJOURN MEETING		Management	Against	Yes

FEDERAL HOME LOAN MORTGAGE CORPORATI			FRE	Annual Meeting Date: 03/31/2004
Issuer: 313400		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

THE GOLDMAN SACHS GROUP, INC.			GS	Annual Meeting Date: 03/31/2004
Issuer: 38141G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

CATERPILLAR INC.			CAT	Annual Meeting Date: 04/14/2004
Issuer: 149123		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Yes
	RATIFY POISON PILL
05	S/H PROPOSAL - SPIN-OFF/SELL COMPANY ASSETS		Shareholder	Against	No
06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

TEXAS INSTRUMENTS INCORPORATED			TXN	Annual Meeting Date: 04/15/2004
Issuer: 882508		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

CENDANT CORPORATION			CD	Annual Meeting Date: 04/20/2004
Issuer: 151313		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	DECLASSIFY BOARD		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

CITIGROUP INC.			C	Annual Meeting Date: 04/20/2004
Issuer: 172967		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	Against	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No

SMITH INTERNATIONAL, INC.			SII	Annual Meeting Date: 04/20/2004
Issuer: 832110		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

SPRINT CORPORATION			FON	Annual Meeting Date: 04/20/2004
Issuer: 852061		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - OVERRIDE CSA VOTE RESTRICTIONS		Shareholder	For	Yes
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

BURLINGTON RESOURCES INC.			BR	Annual Meeting Date: 04/21/2004
Issuer: 122014		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CHARTER ONE FINANCIAL, INC.			CF	Annual Meeting Date: 04/21/2004
Issuer: 160903		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

THE RYLAND GROUP, INC.			RYL	Annual Meeting Date: 04/21/2004
Issuer: 783764		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

CARNIVAL CORPORATION			CCL	Annual Meeting Date: 04/22/2004
Issuer: 143658		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	APPROVE INCREASE IN AGGREGATE COMPENSATION CEILING		Management	For	No
	FOR DIRS AND STATUTORY AUDS
04	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
05	APPROVE RENUMERATION OF DIRECTORS		Management	For	No
06	ALLOT SECURITIES		Shareholder	Against	Yes
07	ELIMINATE PREEMPTIVE RIGHTS		Management	For	No

PFIZER INC.			PFE	Annual Meeting Date: 04/22/2004
Issuer: 717081		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	For	Yes
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
09	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	Against	No
10	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

ABBOTT LABORATORIES			ABT	Annual Meeting Date: 04/23/2004
Issuer: 002824		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

MERRILL LYNCH & CO., INC.			MER	Annual Meeting Date: 04/23/2004
Issuer: 590188		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

PPL CORPORATION			PPL	Annual Meeting Date: 04/23/2004
Issuer: 69351T		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

HONEYWELL INTERNATIONAL INC.			HON	Annual Meeting Date: 04/26/2004
Issuer: 438516		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes
04	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	For	Yes
05	S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER		Shareholder	Against	No
	VOTE
06	S/H PROPOSAL - ELIMINATE PREEMPTIVE RIGHTS		Shareholder	Against	No
07	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No

INTERNATIONAL BUSINESS MACHINES CORP			IBM	Annual Meeting Date: 04/27/2004
Issuer: 459200		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	AMEND LONG TERM INCENTIVE PLAN		Management	For	No
05	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
08	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
09	S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE		Shareholder	Against	No
	COMPENSATION
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
11	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
12	S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE		Shareholder	Against	No
	COMPENSATION

MANPOWER INC.			MAN	Annual Meeting Date: 04/27/2004
Issuer: 56418H		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

MERCK & CO., INC.			MRK	Annual Meeting Date: 04/27/2004
Issuer: 589331		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	DECLASSIFY BOARD		Management	For	No
04	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
05	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
06	S/H PROPOSAL - REQUIRE SHAREHOLDER APPROVAL OF		Shareholder	Against	No
	BUSINESS COMBINATION
07	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
08	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

NATIONAL CITY CORPORATION			NCC	Annual Meeting Date: 04/27/2004
Issuer: 635405		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

WELLS FARGO & COMPANY			WFC	Annual Meeting Date: 04/27/2004
Issuer: 949746		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

BRUNSWICK CORPORATION			BC	Annual Meeting Date: 04/28/2004
Issuer: 117043		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CHEVRONTEXACO CORPORATION			CVX	Annual Meeting Date: 04/28/2004
Issuer: 166764		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	SHAREHOLDER RIGHTS PLAN		Management	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
09	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

E. I. DU PONT DE NEMOURS AND COMPANY			DD	Annual Meeting Date: 04/28/2004
Issuer: 263534		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

GENERAL ELECTRIC COMPANY			GE	Annual Meeting Date: 04/28/2004
Issuer: 369604		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
0A	ELECTION OF DIRECTORS		Management	For	No
0B	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
0C	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	No
01	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
02	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	No
03	S/H PROPOSAL - OPT OUT OF ANTI-TAKEOVER STATUTE		Shareholder	Against	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	S/H PROPOSAL - ELIMINATE CUMULATIVE VOTING		Shareholder	Against	No
08	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	Against	No
	RATIFY POISON PILL
09	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
11	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	For	Yes
12	S/H PROPOSAL - ENHANCE STOCK VALUE VIA MERGER/SALE		Shareholder	Against	No
13	S/H PROPOSAL - OVERRIDE CSA VOTE RESTRICTIONS		Shareholder	Against	No
14	S/H PROPOSAL - REQUIRE MAJORITY OF DIRECTORS		Shareholder	Against	No
	TO BE INDEPENDENT
15	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

VERIZON COMMUNICATIONS INC.			VZ	Annual Meeting Date: 04/28/2004
Issuer: 92343V		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
04	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
05	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	For	Yes
06	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Yes
	RATIFY POISON PILL
07	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	No
08	STOCK TRANSFER AGREEMENT		Management	Against	No
09	MISCELLANEOUS COMPENSATION PLANS		Management	Against	No
10	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	No
11	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	No

ALTRIA GROUP, INC.			MO	Annual Meeting Date: 04/29/2004
Issuer: 02209S		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
04	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
06	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
07	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes

COCA-COLA ENTERPRISES INC.			CCE	Annual Meeting Date: 04/30/2004
Issuer: 191219		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT MANAGEMENT INCENTIVE PLAN		Management	For	No
03	ADOPT STOCK AWARDS PLAN		Management	For	No
04	ADOPT DIRECTORS' DEFERRED COMPENSATION PLAN		Management	For	No
05	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
06	SAVINGS PLAN		Management	For	No
07	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
08	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
09	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

MOTOROLA, INC.			MOT	Annual Meeting Date: 05/03/2004
Issuer: 620076		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

BRISTOL-MYERS SQUIBB COMPANY			BMY	Annual Meeting Date: 05/04/2004
Issuer: 110122		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes
06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
07	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	No

CINERGY CORP.			CIN	Annual Meeting Date: 05/04/2004
Issuer: 172474		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

GANNETT CO., INC.			GCI	Annual Meeting Date: 05/04/2004
Issuer: 364730		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

CONOCOPHILLIPS			COP	Annual Meeting Date: 05/05/2004
Issuer: 20825C		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	No

ILLINOIS TOOL WORKS INC.			ITW	Annual Meeting Date: 05/07/2004
Issuer: 452308		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ENSCO INTERNATIONAL INCORPORATED			ESV	Annual Meeting Date: 05/11/2004
Issuer: 26874Q		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

INTERNATIONAL PAPER COMPANY			IP	Annual Meeting Date: 05/11/2004
Issuer: 460146		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND LONG TERM INCENTIVE PLAN		Management	For	No
04	AMEND LONG TERM INCENTIVE PLAN		Management	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

KINDER MORGAN, INC.			KMI	Annual Meeting Date: 05/11/2004
Issuer: 49455P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT STOCK OPTION PLAN		Management	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
05	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

MASCO CORPORATION			MAS	Annual Meeting Date: 05/11/2004
Issuer: 574599		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

THE DOW CHEMICAL COMPANY			DOW	Annual Meeting Date: 05/13/2004
Issuer: 260543		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	APPROVE CHARTER AMENDMENT		Management	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

ENTERGY CORPORATION			ETR	Annual Meeting Date: 05/14/2004
Issuer: 29364G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	CHANGE STOCK EXCHANGE LISTING		Management	Against	Yes
04	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

OFFICE DEPOT, INC.			ODP	Annual Meeting Date: 05/14/2004
Issuer: 676220		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

PACTIV CORP.			PTV	Annual Meeting Date: 05/14/2004
Issuer: 695257		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

NORTHROP GRUMMAN CORPORATION			NOC	Annual Meeting Date: 05/18/2004
Issuer: 666807		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - MILITARY/WEAPONS		Shareholder	For	Yes
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes

THE ALLSTATE CORPORATION			ALL	Annual Meeting Date: 05/18/2004
Issuer: 020002		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

AMERICAN INTERNATIONAL GROUP, INC.			AIG	Annual Meeting Date: 05/19/2004
Issuer: 026874		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	ADOPT DIRECTOR STOCK OPTION PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

EQUITY OFFICE PROPERTIES TRUST			EOP	Annual Meeting Date: 05/19/2004
Issuer: 294741		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

JONES APPAREL GROUP, INC.			JNY	Annual Meeting Date: 05/19/2004
Issuer: 480074		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

PACIFICARE HEALTH SYSTEMS, INC.			PHS	Annual Meeting Date: 05/20/2004
Issuer: 695112		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

STONE ENERGY CORPORATION			SGY	Annual Meeting Date: 05/20/2004
Issuer: 861642		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

TIME WARNER INC.				Annual Meeting Date: 05/21/2004
Issuer: 887317		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
04	S/H PROPOSAL - ELIMINATE PREEMPTIVE RIGHTS		Shareholder	Against	No

BANK ONE CORPORATION			ONE	Annual Meeting Date: 05/25/2004
Issuer: 06423A		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE MERGER AGREEMENT		Management	For	No
02	ELECTION OF DIRECTORS		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

DOLLAR GENERAL CORPORATION			DG	Annual Meeting Date: 05/25/2004
Issuer: 256669		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

FANNIE MAE			FNM	Annual Meeting Date: 05/25/2004
Issuer: 313586		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No
04	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No

J.P. MORGAN CHASE & CO.			JPM	Annual Meeting Date: 05/25/2004
Issuer: 46625H		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE MERGER AGREEMENT		Management	For	No
02	ELECTION OF DIRECTORS		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
05	APPROVE MOTION TO ADJOURN MEETING		Management	Against	Yes
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
07	S/H PROPOSAL - ESTABLISH NOMINATING COMMITTEE		Shareholder	Against	No
08	S/H PROPOSAL - REPORT ON CHARITABLE DONATIONS		Shareholder	Against	No
09	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
11	S/H PROPOSAL - RESTORE PREEMPTIVE RIGHTS		Shareholder	Against	No
12	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
13	S/H PROPOSAL - ELIMINATE PREEMPTIVE RIGHTS		Shareholder	Against	No

BANK OF AMERICA CORPORATION			BAC	Annual Meeting Date: 05/26/2004
Issuer: 060505		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
05	S/H PROPOSAL - ESTABLISH NOMINATING COMMITTEE		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

EXXON MOBIL CORPORATION			XOM	Annual Meeting Date: 05/26/2004
Issuer: 30231G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
10	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
11	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	No

INGERSOLL-RAND COMPANY LIMITED			IR	Annual Meeting Date: 06/02/2004
Issuer: G4776G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
03	APPROVE CHARTER AMENDMENT		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes
06	S/H PROPOSAL - REINCORPORATE IN OTHER STATE		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No

DEVON ENERGY CORPORATION			DVN	Annual Meeting Date: 06/08/2004
Issuer: 25179M		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No

LIBERTY MEDIA CORPORATION			L	Annual Meeting Date: 06/09/2004
Issuer: 530718		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	Against	Yes
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

COUNTRYWIDE FINANCIAL CORPORATION			CFC	Annual Meeting Date: 06/16/2004
Issuer: 222372		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

SHIRE PHARMACEUTICALS GROUP PLC			SHPGY	Annual Meeting Date: 06/16/2004
Issuer: 82481R		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
03	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
04	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
05	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
06	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
07	APPROVE RENUMERATION OF DIRECTORS		Management	For	No
08	ALLOT SECURITIES		Shareholder	Against	Yes
09	ELIMINATE PREEMPTIVE RIGHTS		Management	For	No
10	AUTHORIZE DIRECTORS TO REPURCHASE SHARES		Management	For	No
11	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes

CKE RESTAURANTS, INC.			CKR	Annual Meeting Date: 06/28/2004
Issuer: 12561E		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CHECK POINT SOFTWARE TECHNOLOGIES LT			CHKP	Annual Meeting Date: 06/30/2004
Issuer: M22465		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
03	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
04	APPROVE RENUMERATION OF DIRECTORS		Management	For	No
05	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

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.

IVY FUNDS
(Registrant)

By: /s/Kristen A. Richards
          Kristen A. Richards, Vice President and Secretary

Date: August 31, 2004

By: /s/Henry J. Herrmann
          Henry J. Herrmann, President and Principal Executive Officer

Date: August 31, 2004