FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-1403

Putnam Global Equity Fund
- -------------------------------------------------------------------------
  (Exact name of registrant as specified in charter)

One Post Office Square

Boston, Massachusetts 02109
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  (Address of principal executive offices)

Beth S. Mazor, Vice President

Putnam Global Equity Fund

One Post Office Square

Boston, Massachusetts 02109



Copy to:

John W. Gerstmayr, Esq.

Ropes & Gray LLP

One International Place

Boston, Massachusetts 02110
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  (Name and address of agent for service)


Registrant's telephone number, including area code: (617) 292-1000

Date of Fiscal year-end: 10/31/2005

Date of reporting period: 7/1/2004 - 6/30/2005

Item 1. Proxy Voting Record

Account Number: Putnam Global Equity Fund

ISSUER NAME		TICKER	CUSIP	MTG DATE	MTG TYPE
				Proposal Type	Voted	Vote	For/Agnst Mgmt
Abercrombie & Fitch		ANF	002896207	6/15/05	Annual
1.01	Elect Russell M. Gertmenian			MGMT	YES	WHOLD	AGNST
1.02	Elect Archie M. Griffin			MGMT	YES	WHOLD	AGNST
1.03	Elect Allan A. Tuttle			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Long-Term Incentive Plan			MGMT	YES	AGNST	AGNST
ACE Ltd			G0070K103	5/26/05	Annual
1.01	Elect Evan G. Greenberg			MGMT	YES	FOR	FOR
1.02	Elect John A. Krol			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Adobe Systems Inc		ADBE	00724F101	4/28/05	Annual
1.01	Elect Carol Mills			MGMT	YES	FOR	FOR
1.02	Elect Colleen M. Pouliot			MGMT	YES	FOR	FOR
1.03	Elect Robert Sedgewick			MGMT	YES	FOR	FOR
1.04	Elect John E. Warnock			MGMT	YES	FOR	FOR
2.00	Add Shares to Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Add Shares to Director Stock Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Expense stock options			SHLDR	YES	AGNST	FOR
5.00	Require option shares to be held			SHLDR	YES	AGNST	FOR
6.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Aegon NV			N0089J123	4/21/05	Annual
2.02	Approve financial statements			MGMT	NO
2.04	Set dividend/allocate profits			MGMT	NO
2.05	Ratify management acts-legal			MGMT	NO
2.06	Ratify board acts-legal			MGMT	NO
3.00	Appoint outside auditors			MGMT	NO
5.01	Amend articles to reflect regulatory changes			MGMT	NO
5.02	Authorize legal formalities			MGMT	NO
6.00	Approve supervisory board/corp. assembly fees			MGMT	NO
7.01	Elect Donald J. Shepard			MGMT	NO
7.02	Elect J.B.M. Streppel			MGMT	NO
8.01	Elect Shemaya Levy			MGMT	NO
8.02	Elect Dudley G. Eustace			MGMT	NO
8.03	Elect W.F.C. Stevens			MGMT	NO
9.01	Issue stock w/ preemptive rights			MGMT	NO
9.02	Issue stock w/o preemptive rights			MGMT	NO
9.03	Issue stock w/o preemptive rights			MGMT	NO
9.04	Authorize share repurchase			MGMT	NO
Allied Irish Banks			G02072117	4/27/05	Annual
1.00	Approve financial statements			MGMT	YES	FOR	FOR
2.00	Set dividend/allocate profits			MGMT	YES	FOR	FOR
3.01	Elect Michael D. Buckley			MGMT	YES	AGNST	AGNST
3.02	Elect Adrian Burke			MGMT	YES	AGNST	AGNST
3.03	Elect Kieren Crowley			MGMT	YES	AGNST	AGNST
3.04	Elect Colm Doherty			MGMT	YES	AGNST	AGNST
3.05	Elect Padraic M. Fallon			MGMT	YES	AGNST	AGNST
3.06	Elect Dermot J. Gleeson			MGMT	YES	AGNST	AGNST
3.07	Elect Don Godson			MGMT	YES	AGNST	AGNST
3.08	Elect Derek A. Higgs			MGMT	YES	AGNST	AGNST
3.09	Elect Gary Kennedy			MGMT	YES	AGNST	AGNST
3.10	Elect John B. McGuckian			MGMT	YES	AGNST	AGNST
3.11	Elect Aidan McKeon			MGMT	YES	AGNST	AGNST
3.12	Elect Jim O'Leary			MGMT	YES	AGNST	AGNST
3.13	Elect Michael J. Sullivan			MGMT	YES	AGNST	AGNST
3.14	Elect Robert G. Wilmers			MGMT	YES	AGNST	AGNST
3.15	Elect Jenny Winter			MGMT	YES	AGNST	AGNST
4.00	Set auditors' fees			MGMT	YES	FOR	FOR
5.00	Authorize share repurchase			MGMT	YES	FOR	FOR
6.00	Set price of reissued treasury stock			MGMT	YES	FOR	FOR
7.00	Issue stock w/o preemptive rights			MGMT	YES	FOR	FOR
8.00	Approve executive profit sharing/bonus plan			MGMT	YES	FOR	FOR
9.00	Remove auditors			SHLDR	YES	AGNST	FOR
10.00	Elect dissident director(s)			SHLDR	YES	AGNST	FOR
Altria Group Inc		MO	02209S103	4/28/05	Annual
1.01	Elect Elizabeth E. Bailey			MGMT	YES	FOR	FOR
1.02	Elect Harold Brown			MGMT	YES	FOR	FOR
1.03	Elect Mathis Cabiallavetta			MGMT	YES	FOR	FOR
1.04	Elect Loius C. Camilleri			MGMT	YES	FOR	FOR
1.05	Elect Dudley Fishburn			MGMT	YES	FOR	FOR
1.06	Elect Robert E.R. Huntley			MGMT	YES	FOR	FOR
1.07	Elect Thomas W. Jones			MGMT	YES	FOR	FOR
1.08	Elect George Munoz			MGMT	YES	FOR	FOR
1.09	Elect Lucio A. Noto			MGMT	YES	FOR	FOR
1.10	Elect John S. Reed			MGMT	YES	FOR	FOR
1.11	Elect Carlos Slim Helu			MGMT	YES	FOR	FOR
1.12	Elect Stephen M. Wolf			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Performance Incentive Plan			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Stock Compensation Plan for Non-Employee Directors			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
5.00	Review or promote animal welfare			SHLDR	YES	AGNST	FOR
6.00	Review or reduce tobacco harm to health			SHLDR	YES	AGNST	FOR
7.00	Review or reduce tobacco harm to health			SHLDR	YES	AGNST	FOR
8.00	Review or reduce tobacco harm to health			SHLDR	YES	AGNST	FOR
Amerada Hess Corp		AHC	023551104	5/4/05	Annual
1.01	Elect Edith E. Holiday			MGMT	YES	FOR	FOR
1.02	Elect John J. O'Connor			MGMT	YES	FOR	FOR
1.03	Elect F. Borden Walker			MGMT	YES	FOR	FOR
1.04	Elect Robert N. Wilson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Amgen Inc		AMGN	031162100	5/11/05	Annual
1.01	Elect David Baltimore			MGMT	YES	FOR	FOR
1.02	Elect Judith C. Pelham			MGMT	YES	FOR	FOR
1.03	Elect Kevin W. Sharer			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.01	Review or promote animal welfare			SHLDR	YES	AGNST	FOR
3.02	Link executive pay to social criteria			SHLDR	YES	AGNST	FOR
3.03	SP - Require option shares to be held			SHLDR	YES	AGNST	FOR
Arcelor SA			L0218T101	4/29/05	Annual
1.00	NV -- Receive statutory reports			MGMT	NO
2.00	Approve financial statements			MGMT	NO
3.00	Approve financial statements			MGMT	NO
4.00	Set Dividend at 0.40			MGMT	NO
5.00	Ratify board acts-legal			MGMT	NO
6.00	Election of directors by slate			MGMT	NO
7.00	Authorize share repurchase			MGMT	NO
	Reissuance of shares/treasury stock
Astellas Pharma Inc		4503	J96216122	6/24/05	Annual
1.00	Allocate dividend			MGMT	YES	FOR	FOR
2.01	Elect Director Nominee No. 2.1			MGMT	YES	FOR	FOR
2.02	Elect Director Nominee No. 2.2			MGMT	YES	FOR	FOR
3.00	Approve bonuses for retiring directors			MGMT	YES	FOR	FOR
	Approve bonuses for retiring statutory auditors
	Bonus for ending director retirement bonuses
	Bonus for ending stat auditor retirement bonuses
4.00	Approve restricted stock grants			MGMT	YES	FOR	FOR
5.00	Approve directors' fees			MGMT	YES	FOR	FOR
Automatic Data Processing		ADP	053015103	11/9/04	Annual
1.01	Elect Gregory D. Brenneman			MGMT	YES	FOR	FOR
1.02	Elect Leslie A. Brun			MGMT	YES	FOR	FOR
1.03	Elect Gary C. Butler			MGMT	YES	FOR	FOR
1.04	Elect Joseph A. Califano Jr.			MGMT	YES	FOR	FOR
1.05	Elect Leon G. Cooperman			MGMT	YES	FOR	FOR
1.06	Elect R. Glenn Hubbard			MGMT	YES	FOR	FOR
1.07	Elect Ann Dibble Jordan			MGMT	YES	FOR	FOR
1.08	Elect Harvey M. Krueger			MGMT	YES	FOR	FOR
1.09	Elect Frederic V. Malek			MGMT	YES	FOR	FOR
1.10	Elect Henry Taub			MGMT	YES	WHOLD	AGNST
1.11	Elect Arthur F. Weinbach			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
AutoZone Inc		AZO	053332102	12/16/04	Annual
1.01	Elect Charles M. Elson			MGMT	YES	FOR	FOR
1.02	Elect Earl G. Graves Jr.			MGMT	YES	FOR	FOR
1.03	Elect N. Gerry House			MGMT	YES	FOR	FOR
1.04	Elect J.R. Hyde III			MGMT	YES	FOR	FOR
1.05	Elect Edward S. Lampert			MGMT	YES	FOR	FOR
1.06	Elect W. Andrew McKenna			MGMT	YES	FOR	FOR
1.07	Elect Steve Odland			MGMT	YES	FOR	FOR
1.08	Elect James J. Postl			MGMT	YES	FOR	FOR
2.00	Approve Annual Bonus Plan			MGMT	YES	FOR	FOR
3.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
BAA			0067340	7/27/04	Annual
1.00	Approve Financial Statements			MGMT	YES	FOR	FOR
2.00	Approve Remuneration Policy			MGMT	YES	FOR	FOR
3.00	Set Final Dividend at 13.40p			MGMT	YES	FOR	FOR
4.00	Elect Tony Ball			MGMT	YES	FOR	FOR
5.00	Elect Robert Walker			MGMT	YES	FOR	FOR
6.00	Elect Mike Clasper			MGMT	YES	FOR	FOR
7.00	Elect Margaret Ewing			MGMT	YES	FOR	FOR
8.00	Elect Mike R. Toms			MGMT	YES	FOR	FOR
9.00	Appoint Outside Auditors			MGMT	YES	FOR	FOR
10.00	Set Auditors' Fees			MGMT	YES	FOR	FOR
11.00	Issue Stock w/o Preemptive Rights			MGMT	YES	FOR	FOR
12.00	Cancel Special Share			MGMT	YES	FOR	FOR
	Reduce Authorized Capital
13.00	Amend Articles--Technical			MGMT	YES	FOR	FOR
14.00	Approve Executive Profit Sharing/Bonus Plan			MGMT	YES	FOR	FOR
15.00	Approve Political Donation			MGMT	YES	FOR	FOR
BASF AG			D06216101	4/28/05	Annual
1.00	NV -- Receive statutory reports			MGMT	NO
2.00	Set Dividend at 1.70			MGMT	NO
3.00	Ratify board acts-symbolic			MGMT	NO
4.00	Ratify management acts-symbolic			MGMT	NO
5.00	Appoint outside auditors			MGMT	NO
6.00	Authorize share repurchase			MGMT	NO
	Reissuance of shares/treasury stock
7.00	Authorize share repurchase			MGMT	NO
8.00	Amend meeting procedures/change date			MGMT	NO
Bear Stearns Companies Inc		BSC	073902108	4/7/05	Annual
1.01	Elect James E. Cayne			MGMT	YES	FOR	FOR
1.02	Elect Henry S Bienen			MGMT	YES	FOR	FOR
1.03	Elect Carl D. Glickman			MGMT	YES	FOR	FOR
1.04	Elect Alan C. Greenberg			MGMT	YES	FOR	FOR
1.05	Elect Donald J. Harrington			MGMT	YES	FOR	FOR
1.06	Elect Frank T. Nickell			MGMT	YES	FOR	FOR
1.07	Elect Paul A. Novelly			MGMT	YES	FOR	FOR
1.08	Elect Frederic V. Salerno			MGMT	YES	FOR	FOR
1.09	Elect Alan D. Schwartz			MGMT	YES	FOR	FOR
1.10	Elect Warren J. Spector			MGMT	YES	FOR	FOR
1.11	Elect Vincent S. Tese			MGMT	YES	FOR	FOR
1.12	Elect Wesley S. Williams Jr.			MGMT	YES	FOR	FOR
2.00	Amend annual bonus plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Boeing Co		BA	097023105	5/2/05	Annual
1.01	Elect Kenneth M. Duberstein			MGMT	YES	WHOLD	AGNST
1.02	Elect W. James McNerney Jr.			MGMT	YES	WHOLD	AGNST
1.03	Elect Lewis E. Platt			MGMT	YES	WHOLD	AGNST
1.04	Elect Mike S. Zafirovski			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Develop/report on human rights policy			SHLDR	YES	AGNST	FOR
4.00	Review military contracting criteria			SHLDR	YES	AGNST	FOR
5.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR
6.00	Repeal classified board			SHLDR	YES	FOR	AGNST
7.00	Eliminate supermajority provision			SHLDR	YES	FOR	AGNST
8.00	Majority vote shareholder committee			SHLDR	YES	AGNST	FOR
9.00	Independent board chairman			SHLDR	YES	AGNST	FOR
Canadian Natural Resources			136385101	5/5/05	Annual
1.00	Election of directors by slate			MGMT	YES	FOR	FOR
2.00	Appoint auditors and set their fees			MGMT	YES	FOR	FOR
3.00	Approve stock split			MGMT	YES	FOR	FOR
Canon Inc		7751	J05124144	3/30/05	Annual
1.00	Allocate dividend			MGMT	YES	FOR	FOR
2.00	Amend company purpose			MGMT	YES	FOR	FOR
3.01	Elect Nominee No. 3.1			MGMT	YES	FOR	FOR
3.02	Elect Nominee No. 3.2			MGMT	YES	FOR	FOR
3.03	Elect Nominee No. 3.3			MGMT	YES	FOR	FOR
3.04	Elect Nominee No. 3.4			MGMT	YES	FOR	FOR
3.05	Elect Nominee No. 3.5			MGMT	YES	FOR	FOR
3.06	Elect Nominee No. 3.6			MGMT	YES	FOR	FOR
3.07	Elect Nominee No. 3.7			MGMT	YES	FOR	FOR
3.08	Elect Nominee No. 3.8			MGMT	YES	FOR	FOR
3.09	Elect Nominee No. 3.9			MGMT	YES	FOR	FOR
3.10	Elect Nominee No. 3.10			MGMT	YES	FOR	FOR
3.11	Elect Nominee No. 3.11			MGMT	YES	FOR	FOR
3.12	Elect Nominee No. 3.12			MGMT	YES	FOR	FOR
3.13	Elect Nominee No. 3.13			MGMT	YES	FOR	FOR
3.14	Elect Nominee No. 3.14			MGMT	YES	FOR	FOR
3.15	Elect Nominee No. 3.15			MGMT	YES	FOR	FOR
3.16	Elect Nominee No. 3.16			MGMT	YES	FOR	FOR
3.17	Elect Nominee No. 3.17			MGMT	YES	FOR	FOR
3.18	Elect Nominee No. 3.18			MGMT	YES	FOR	FOR
3.19	Elect Nominee No. 3.19			MGMT	YES	FOR	FOR
3.20	Elect Nominee No. 3.20			MGMT	YES	FOR	FOR
3.21	Elect Nominee No. 3.21			MGMT	YES	FOR	FOR
3.22	Elect Nominee No. 3.22			MGMT	YES	FOR	FOR
3.23	Elect Nominee No. 3.23			MGMT	YES	FOR	FOR
3.24	Elect Nominee No. 3.24			MGMT	YES	FOR	FOR
3.25	Elect Nominee No. 3.25			MGMT	YES	FOR	FOR
4.00	Approve bonuses for retiring directors			MGMT	YES	FOR	FOR
Cardinal Health Inc		CAH	14149Y108	12/8/04	Annual
1.01	Elect George H. Conrades			MGMT	YES	WHOLD	AGNST
1.02	Elect Robert L. Gerbig			MGMT	YES	WHOLD	AGNST
1.03	Elect Richard C. Notebaert			MGMT	YES	WHOLD	AGNST
2.00	Amend Annual Bonus Plan			MGMT	YES	FOR	FOR
3.00	Repeal Classified Board			SHLDR	YES	FOR	AGNST
China Netcom Group Corporation (Hong Kong) Ltd			Y1505N100	5/20/05	Annual
1.00	Approve financial statements			MGMT	YES	FOR	FOR
2.00	Set dividend/allocate profits			MGMT	YES	FOR	FOR
3.00	Election of directors by slate			MGMT	YES	AGNST	AGNST
4.00	Appoint auditors and set their fees			MGMT	YES	FOR	FOR
5.00	Approve directors' fees			MGMT	YES	ABSTAIN	AGNST
6.00	Authorize share repurchase			MGMT	YES	FOR	FOR
7.00	Issue stock w/o preemptive rights			MGMT	YES	AGNST	AGNST
8.00	Reissuance of shares/treasury stock			MGMT	YES	ABSTAIN	AGNST
Cigna Corp		CI	125509109	4/27/05	Annual
1.01	Elect Peter N. Larson			MGMT	YES	FOR	FOR
1.02	Elect Carol Cox Wait			MGMT	YES	FOR	FOR
1.03	Elect William D. Zollars			MGMT	YES	FOR	FOR
1.04	Elect Marilyn Ware			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Amend Stock Incentive Plan			MGMT	YES	AGNST	AGNST
Citigroup Inc		C	172967101	4/19/05	Annual
1.01	Elect C. Michael Armstrong			MGMT	YES	FOR	FOR
1.02	Elect Alain J.P. Belda			MGMT	YES	FOR	FOR
1.03	Elect George David			MGMT	YES	FOR	FOR
1.04	Elect Kenneth T. Derr			MGMT	YES	FOR	FOR
1.05	Elect John Deutch			MGMT	YES	FOR	FOR
1.06	Elect Roberto H. Ramirez			MGMT	YES	FOR	FOR
1.07	Elect Ann Dibble Jordan			MGMT	YES	FOR	FOR
1.08	Elect Klaus Kleinfeld			MGMT	YES	FOR	FOR
1.09	Elect Dudley C. Mecum II			MGMT	YES	FOR	FOR
1.10	Elect Anne M. Mulcahy			MGMT	YES	FOR	FOR
1.11	Elect Richard D. Parsons			MGMT	YES	FOR	FOR
1.12	Elect Charles Prince			MGMT	YES	FOR	FOR
1.13	Elect Judith Rodin			MGMT	YES	FOR	FOR
1.14	Elect Robert E. Rubin			MGMT	YES	FOR	FOR
1.15	Elect Franklin A. Thomas			MGMT	YES	FOR	FOR
1.16	Elect Sanford I. Weill			MGMT	YES	FOR	FOR
1.17	Elect Robert B. Willumstad			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Add Shares to Stock Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
5.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR
6.00	Independent board chairman			SHLDR	YES	AGNST	FOR
7.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
8.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR
9.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
10.00	Eliminate supermajority provision			SHLDR	YES	AGNST	FOR
Commerce Bancorp Inc		CBH	200519106	5/17/05	Annual
1.01	Elect Vernon W. Hill II			MGMT	YES	FOR	FOR
1.02	Elect Jack R. Bershad			MGMT	YES	FOR	FOR
1.03	Elect Joseph E. Buckelew			MGMT	YES	FOR	FOR
1.04	Elect Donald T. DiFrancesco			MGMT	YES	FOR	FOR
1.05	Elect Morton N. Kerr			MGMT	YES	FOR	FOR
1.06	Elect Steven M. Lewis			MGMT	YES	FOR	FOR
1.07	Elect John K Lloyd			MGMT	YES	FOR	FOR
1.08	Elect George E. Norcross III			MGMT	YES	FOR	FOR
1.09	Elect Daniel J. Ragone			MGMT	YES	FOR	FOR
1.10	Elect William A. Schwartz Jr.			MGMT	YES	FOR	FOR
1.11	Elect Joseph T. Tarquini Jr.			MGMT	YES	FOR	FOR
1.12	Elect Joseph S. Vassalluzzo			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Companhia Vale do Rio Doce			204412209	8/18/04	Special
1.00	Approve Stock Split			MGMT	YES	FOR	FOR
2.00	Elect Statutory Auditors			MGMT	YES	AGNST	AGNST
3.00	Approve Directors' Fees			MGMT	YES	FOR	FOR
Cooper Cameron Corp		CAM	216640102	5/5/05	Annual
1.01	Elect Peter J. Fluor			MGMT	YES	FOR	FOR
1.02	Elect David Ross III			MGMT	YES	FOR	FOR
1.03	Elect Bruce W. Wilkinson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Reapprove option/bonus plan for OBRA			MGMT	YES	FOR	FOR
4.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
Countrywide Financial Corp		CFC	222372104	8/17/04	Special
1.00	Increase Authorized Common Stock			MGMT	YES	FOR	FOR
Countrywide Financial Corp		CFC	222372104	6/15/05	Annual
1.01	Elect Angelo R. Mozilo			MGMT	YES	FOR	FOR
1.02	Elect Stanford L. Kurland			MGMT	YES	FOR	FOR
1.03	Elect Oscar P. Robertson			MGMT	YES	FOR	FOR
1.04	Elect Keith P. Russell			MGMT	YES	FOR	FOR
2.00	Amend annual bonus plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Credit Agricole SA		ACA	F22797108	5/18/05	Annual
1.00	Approve use/transfer of reserves			MGMT	NO
2.00	Approve financial statements			MGMT	NO
3.00	Approve financial statements			MGMT	NO
4.00	Set Final Dividend at 0.66			MGMT	NO
5.00	Approve related party transactions			MGMT	NO
6.00	Elect Alain David			MGMT	NO
7.00	Elect Philippe Camus			MGMT	NO
8.00	Elect Rene Carron			MGMT	NO
9.00	Elect Alain Dieval			MGMT	NO
10.00	Elect Daniel Lebegue			MGMT	NO
11.00	Elect Michel Michaut			MGMT	NO
12.00	Elect Jean-Claude Pichon			MGMT	NO
13.00	Elect Xavier Fontanet			MGMT	NO
14.00	Elect Corrado Passera			MGMT	NO
15.00	Approve directors' fees			MGMT	NO
16.00	Authorize trade in company stock			MGMT	NO
17.00	Issue stock w/ preemptive rights			MGMT	NO
	Increase authorized capital
18.00	Increase authorized capital			MGMT	NO
	Issue stock w/o preemptive rights
19.00	Increase authorized capital			MGMT	NO
20.00	Issue stock w/o preemptive rights			MGMT	NO
21.00	Issue stock w/o preemptive rights			MGMT	NO
22.00	Issue stock w/o preemptive rights			MGMT	NO
23.00	Reduce authorized capital			MGMT	NO
24.00	Amend shareholder disclosure rules			MGMT	NO
25.00	Authorize legal formalities			MGMT	NO
Credit Saison		8253	J7007M109	6/25/05	Annual
1.00	Allocate dividend			MGMT	YES	FOR	FOR
2.00	Amend company purpose			MGMT	YES	FOR	FOR
3.00	Approve stock option grant			MGMT	YES	FOR	FOR
4.01	Elect Director Nominee No. 4.1			MGMT	YES	FOR	FOR
4.02	Elect Director Nominee No. 4.2			MGMT	YES	FOR	FOR
4.03	Elect Director Nominee No. 4.3			MGMT	YES	FOR	FOR
4.04	Elect Director Nominee No. 4.4			MGMT	YES	FOR	FOR
4.05	Elect Director Nominee No. 4.5			MGMT	YES	FOR	FOR
4.06	Elect Director Nominee No. 4.6			MGMT	YES	FOR	FOR
4.07	Elect Director Nominee No. 4.7			MGMT	YES	FOR	FOR
4.08	Elect Director Nominee No. 4.8			MGMT	YES	FOR	FOR
4.09	Elect Director Nominee No. 4.9			MGMT	YES	FOR	FOR
4.10	Elect Director Nominee No. 4.10			MGMT	YES	FOR	FOR
4.11	Elect Director Nominee No. 4.11			MGMT	YES	FOR	FOR
4.12	Elect Director Nominee No. 4.12			MGMT	YES	FOR	FOR
4.13	Elect Director Nominee No. 4.13			MGMT	YES	FOR	FOR
4.14	Elect Director Nominee No. 4.14			MGMT	YES	FOR	FOR
4.15	Elect Director Nominee No. 4.15			MGMT	YES	FOR	FOR
4.16	Elect Director Nominee No. 4.16			MGMT	YES	FOR	FOR
4.17	Elect Director Nominee No. 4.17			MGMT	YES	FOR	FOR
5.00	Approve bonuses for retiring directors			MGMT	YES	AGNST	AGNST
Dixons Group PLC			0047245	9/8/04	Annual
1.00	Approve Financial Statements			MGMT	YES	FOR	FOR
2.00	Set Final Dividend at 5.66p			MGMT	YES	FOR	FOR
3.00	Elect Kevin O'Byrne			MGMT	YES	FOR	FOR
4.00	Elect John A. Collins			MGMT	YES	FOR	FOR
5.00	Elect Count Emmanuel d'Andre			MGMT	YES	FOR	FOR
6.00	Appoint Outside Auditors			MGMT	YES	FOR	FOR
7.00	Set Auditors' Fees			MGMT	YES	FOR	FOR
8.00	Approve Remuneration Policy			MGMT	YES	FOR	FOR
9.00	Amend Articles--Technical			MGMT	YES	FOR	FOR
	Amend Articles - Treasury Shares
10.00	Approve Directors' Fees			MGMT	YES	FOR	FOR
11.00	Issue Stock w/ Preemptive Rights			MGMT	YES	FOR	FOR
12.00	Issue Stock w/o Preemptive Rights			MGMT	YES	FOR	FOR
13.00	Authorize Share Repurchase			MGMT	YES	FOR	FOR
14.00	Amend Stock Option Plan			MGMT	YES	FOR	FOR
15.00	Approve Option/Purchase Plan - Overseas Employees			MGMT	YES	FOR	FOR
Ebay Inc		EBAY	278642103	6/23/05	Annual
1.01	Elect Fred D. Anderson			MGMT	YES	FOR	FOR
1.02	Elect Edward W. Barnholt			MGMT	YES	FOR	FOR
1.03	Elect Scott D. Cook			MGMT	YES	FOR	FOR
1.04	Elect Robert C. Kagle			MGMT	YES	FOR	FOR
2.00	Reapprove option/bonus plan for OBRA			MGMT	YES	FOR	FOR
3.00	Increase authorized common stock			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
5.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
6.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR
Everest Re Group Ltd		RE	G3223R108	5/25/05	Annual
1.01	Elect Thomas J. Gallagher			MGMT	YES	FOR	FOR
1.02	Elect William F. Galtney Jr.			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Amend Director Stock Incentive Plan			MGMT	YES	FOR	FOR
4.00	Amend annual bonus plan			MGMT	YES	FOR	FOR
Express Scripts Inc		ESRX	302182100	5/25/05	Annual
1.01	Elect Gary G Benanav			MGMT	YES	FOR	FOR
1.02	Elect Frank J. Borelli			MGMT	YES	FOR	FOR
1.03	Elect Maura C Breen			MGMT	YES	FOR	FOR
1.04	Elect Nicholas J. LaHowchic			MGMT	YES	FOR	FOR
1.05	Elect Thomas P. Mac Mahon			MGMT	YES	FOR	FOR
1.06	Elect John O. Parker Jr.			MGMT	YES	FOR	FOR
1.07	Elect George Paz			MGMT	YES	FOR	FOR
1.08	Elect Samuel K. Skinner			MGMT	YES	WHOLD	AGNST
1.09	Elect Seymour Sternberg			MGMT	YES	FOR	FOR
1.10	Elect Barrett A. Toan			MGMT	YES	FOR	FOR
1.11	Elect Howard L. Waltman			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Exxon Mobil Corp		XOM	30231G102	5/25/05	Annual
1.01	Elect Michael J. Boskin			MGMT	YES	FOR	FOR
1.02	Elect William W. George			MGMT	YES	FOR	FOR
1.03	Elect James R. Houghton			MGMT	YES	FOR	FOR
1.04	Elect William R. Howell			MGMT	YES	FOR	FOR
1.05	Elect Reatha Clark King			MGMT	YES	FOR	FOR
1.06	Elect Philip E. Lippincott			MGMT	YES	FOR	FOR
1.07	Elect Henry A. McKinnell Jr.			MGMT	YES	FOR	FOR
1.08	Elect Marilyn Carlson Nelson			MGMT	YES	FOR	FOR
1.09	Elect Lee R. Raymond			MGMT	YES	FOR	FOR
1.10	Elect Walter V. Shipley			MGMT	YES	FOR	FOR
1.11	Elect Rex W. Tillerson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Affirm political nonpartisanship			SHLDR	YES	AGNST	FOR
4.00	Restrict director compensation			SHLDR	YES	AGNST	FOR
5.00	Nominate Directors with Energy Expertise			SHLDR	YES	AGNST	FOR
6.00	Review operations' impact on local groups			SHLDR	YES	AGNST	FOR
7.00	Adopt sexual orientation anti-bias policy			SHLDR	YES	AGNST	FOR
8.00	Preserve/report on natural habitat			SHLDR	YES	AGNST	FOR
9.00	Report or take action on climate change			SHLDR	YES	AGNST	FOR
10.00	Report or take action on climate change			SHLDR	YES	AGNST	FOR
Family Dollar Stores		FDO	307000109	1/20/05	Annual
1.01	Elect Mark R. Bernstein			MGMT	YES	FOR	FOR
1.02	Elect Sharon Allred Decker			MGMT	YES	FOR	FOR
1.03	Elect Edward C. Dolby			MGMT	YES	FOR	FOR
1.04	Elect Glenn A. Eisenberg			MGMT	YES	FOR	FOR
1.05	Elect Howard R. Levine			MGMT	YES	FOR	FOR
1.06	Elect George R. Mahoney Jr.			MGMT	YES	FOR	FOR
1.07	Elect James G. Martin			MGMT	YES	FOR	FOR
2.00	Amend Stock Incentive Plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Federal Home Loan Mortgage Corp		FRE	313400301	11/4/04	Annual
1.01	Elect Barbara T. Alexander			MGMT	YES	FOR	FOR
1.02	Elect Geoffrey T. Boisi			MGMT	YES	FOR	FOR
1.03	Elect Michelle Engler			MGMT	YES	FOR	FOR
1.04	Elect Richard Karl Goeltz			MGMT	YES	FOR	FOR
1.05	Elect Thomas S. Johnson			MGMT	YES	FOR	FOR
1.06	Elect William M. Lewis Jr			MGMT	YES	FOR	FOR
1.07	Elect John B. McCoy			MGMT	YES	FOR	FOR
1.08	Elect Eugene M. McQuade			MGMT	YES	FOR	FOR
1.09	Elect Shaun F. O'Malley			MGMT	YES	FOR	FOR
1.10	Elect Ronald F. Poe			MGMT	YES	FOR	FOR
1.11	Elect Stephen A. Ross			MGMT	YES	FOR	FOR
1.12	Elect Richard F. Syron			MGMT	YES	FOR	FOR
1.13	Elect William J. Turner			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Option Plan			MGMT	YES	FOR	FOR
4.00	Adopt Employee Stock Purchase Plan			MGMT	YES	FOR	FOR
Fiserv Inc		FISV	337738108	4/6/05	Annual
1.01	Elect Donald F. Dillon			MGMT	YES	FOR	FOR
1.02	Elect Gerald J. Levy			MGMT	YES	FOR	FOR
1.03	Elect Glenn M. Renwick			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Amend annual bonus plan			MGMT	YES	FOR	FOR
4.00	Amend Stock Incentive Plan			MGMT	YES	FOR	FOR
Forest Laboratories		FRX	345838106	8/11/04	Annual
1.01	Elect Howard Solomon			MGMT	YES	FOR	FOR
1.02	Elect William J. Candee III			MGMT	YES	FOR	FOR
1.03	Elect George S. Cohan			MGMT	YES	FOR	FOR
1.04	Elect Dan L. Goldwasser			MGMT	YES	FOR	FOR
1.05	Elect Lester B. Salans			MGMT	YES	FOR	FOR
1.06	Elect Kenneth E. Goodman			MGMT	YES	FOR	FOR
1.07	Elect Phillip M. Satow			MGMT	YES	FOR	FOR
2.00	Increase Authorized Common Stock			MGMT	YES	FOR	FOR
3.00	Adopt Stock Option Plan			MGMT	YES	FOR	FOR
4.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
Fox Entertainment Group Inc		FOX	35138T107	11/16/04	Annual
1.01	Elect K. Rupert Murdoch			MGMT	YES	WHOLD	AGNST
1.02	Elect Peter Chernin			MGMT	YES	WHOLD	AGNST
1.03	Elect David F. DeVoe			MGMT	YES	WHOLD	AGNST
1.04	Elect Arthur M. Siskind			MGMT	YES	WHOLD	AGNST
1.05	Elect Lachlan K. Murdoch			MGMT	YES	WHOLD	AGNST
1.06	Elect Christos M. Cotsakos			MGMT	YES	WHOLD	AGNST
1.07	Elect Peter Powers			MGMT	YES	WHOLD	AGNST
2.00	Ratify Selection of Auditors			MGMT	YES	AGNST	AGNST
France Telecom			5176177	9/1/04	Special
1.00	Approve Merger/Acquisition			MGMT	NO
2.00	Authorize Legal Formalities			MGMT	NO
3.00	Authorize Legal Formalities			MGMT	NO
4.00	Increase Authorized Capital			MGMT	NO
	Issue Stock w/o Preemptive Rights
5.00	Approve Stock Option Grants			MGMT	NO
6.00	Approve Stock Purchase Plan/SAYE/AESOP			MGMT	NO
7.00	Amend Previous Authority			MGMT	NO
8.00	Authorize Legal Formalities			MGMT	NO
France Telecom			F4113C103	4/22/05	Annual
1.00	Approve financial statements			MGMT	NO
2.00	Approve financial statements			MGMT	NO
3.00	Set Dividend at 0.48			MGMT	NO
4.00	Approve use/transfer of reserves			MGMT	NO
5.00	Approve related party transactions			MGMT	NO
6.00	Elect Didier Lombard			MGMT	NO
7.00	Elect Didier Lombard			MGMT	NO
8.00	Elect Marcel Roulet			MGMT	NO
9.00	Elect Stephane Richard			MGMT	NO
10.00	Elect Arnaud Lagardere			MGMT	NO
11.00	Elect Henri Martre			MGMT	NO
12.00	Elect Bernard Dufau			MGMT	NO
13.00	Elect Jean Simonin			MGMT	NO
14.00	Elect Worker representative			MGMT	NO
15.00	Elect Worker representative			MGMT	NO
16.00	Elect Worker representative			MGMT	NO
17.00	Approve directors' fees			MGMT	NO
18.00	Authorize legal formalities			MGMT	NO
19.00	Authorize trade in company stock			MGMT	NO
20.00	Authorize legal formalities			MGMT	NO
21.00	Amend shareholder disclosure rules			MGMT	NO
22.00	Amend board powers/procedures/qualifications			MGMT	NO
23.00	Amend board powers/procedures/qualifications			MGMT	NO
24.00	Increase authorized capital			MGMT	NO
	Issue stock w/ preemptive rights
25.00	Increase authorized capital			MGMT	NO
	Issue stock w/o preemptive rights
26.00	Amend board powers/procedures/qualifications			MGMT	NO
27.00	Issue stock w/ or w/o preemptive rights			MGMT	NO
28.00	Issue stock w/o preemptive rights			MGMT	NO
29.00	Issue stock w/o preemptive rights			MGMT	NO
30.00	Issue stock w/o preemptive rights			MGMT	NO
31.00	Issue stock w/o preemptive rights			MGMT	NO
32.00	Approve stock option grant			MGMT	NO
33.00	Limit capital increase			MGMT	NO
34.00	Issue debt instruments			MGMT	NO
35.00	Increase authorized capital			MGMT	NO
36.00	Approve stock purchase plan/SAYE/AESOP			MGMT	NO
37.00	Reduce authorized capital			MGMT	NO
38.00	Authorize legal formalities			MGMT	NO
Freescale Semiconductor Inc		FSL	35687M107	4/29/05	Annual
1.01	Elect H. Raymond Bingham			MGMT	YES	WHOLD	AGNST
1.02	Elect Stephen P. Kaufman			MGMT	YES	WHOLD	AGNST
2.00	Approve technical amendments			MGMT	YES	FOR	FOR
	Approve non-technical charter amendments
3.00	Approve technical amendments			MGMT	YES	FOR	FOR
	Approve non-technical bylaw amendments
4.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
5.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Freescale Semiconductor Inc		FSL	35687M206	4/29/05	Annual
1.01	Elect H. Raymond Bingham			MGMT	YES	WHOLD	AGNST
1.02	Elect Stephen P. Kaufman			MGMT	YES	WHOLD	AGNST
2.00	Approve technical amendments			MGMT	YES	FOR	FOR
	Approve non-technical charter amendments
3.00	Approve technical amendments			MGMT	YES	FOR	FOR
	Approve non-technical bylaw amendments
4.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
5.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Friedman, Billings, Ramsey Group		FBR	358434108	6/9/05	Annual
1.01	Elect Eric F. Billings			MGMT	YES	WHOLD	AGNST
1.02	Elect W. Russell Ramsey			MGMT	YES	WHOLD	AGNST
1.03	Elect Daniel J. Altobello			MGMT	YES	WHOLD	AGNST
1.04	Elect Peter A. Gallagher			MGMT	YES	WHOLD	AGNST
1.05	Elect Stephen D. Harlan			MGMT	YES	WHOLD	AGNST
1.06	Elect Russell C. Lindner			MGMT	YES	WHOLD	AGNST
1.07	Elect Wallace L. Timmeny			MGMT	YES	WHOLD	AGNST
1.08	Elect John T. Wall			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
GESTEVISION TELECINCO SA			E56793107	4/22/05	Annual
1.00	Approve financial statements			MGMT	YES	FOR	FOR
2.00	Set Dividend at 0.70			MGMT	YES	FOR	FOR
3.00	Ratify management acts-symbolic			MGMT	YES	FOR	FOR
4.00	Election of directors by slate			MGMT	YES	AGNST	AGNST
5.00	Approve directors' fees			MGMT	YES	FOR	FOR
6.00	Approve stock award			MGMT	YES	FOR	FOR
7.00	Approve stock option plan			MGMT	YES	FOR	FOR
8.00	Authorize share repurchase			MGMT	YES	FOR	FOR
9.00	Appoint outside auditors			MGMT	YES	FOR	FOR
10.00	Authorize legal formalities			MGMT	YES	FOR	FOR
GlaxoSmithKline PLC			G3910J112	5/25/05	Annual
1.00	Approve financial statements			MGMT	YES	FOR	FOR
2.00	Approve remuneration policy			MGMT	YES	FOR	FOR
3.00	To elect as a director Sir Christopher Gent			MGMT	YES	FOR	FOR
4.00	To elect as a director Sir Deryck Maughan			MGMT	YES	FOR	FOR
5.00	To elect as a director Mr Julian Heslop			MGMT	YES	FOR	FOR
6.00	To re-elect as a director Dr Jean-Pierre Garnier			MGMT	YES	FOR	FOR
7.00	To re-elect as a director Sir Ian Prosser			MGMT	YES	FOR	FOR
8.00	To re-elect as a director Dr Ronaldo Schmitz			MGMT	YES	FOR	FOR
9.00	To re-elect as a director Dr Lucy Shapiro			MGMT	YES	FOR	FOR
10.00	Appoint outside auditors			MGMT	YES	FOR	FOR
11.00	Set auditors' fees			MGMT	YES	FOR	FOR
12.00	Approve political donation			MGMT	YES	FOR	FOR
13.00	Issue stock w/o preemptive rights			MGMT	YES	FOR	FOR
14.00	Authorize share repurchase			MGMT	YES	FOR	FOR
15.00	Amend articles--technical			MGMT	YES	FOR	FOR
16.00	Amend terms of indemnification			MGMT	YES	FOR	FOR
17.00	Amend meeting procedures/change date			MGMT	YES	FOR	FOR
Groupe Danone			F12033134	4/12/05	Annual
1.00	Approve financial statements			MGMT	NO
2.00	Approve financial statements			MGMT	NO
3.00	Set Dividend at 1.35			MGMT	NO
4.00	Approve related party transactions			MGMT	NO
5.00	Elect Bruno Bonnell			MGMT	NO
6.00	Elect Michel David Weill			MGMT	NO
7.00	Elect Jacques Alexandre Nahmias			MGMT	NO
8.00	Elect Jacques Vincent			MGMT	NO
9.00	Elect Hirokatsu Hirano			MGMT	NO
10.00	Elect Jean Gaston Pierre Marie Laurent			MGMT	NO
11.00	Elect Bernard Hours			MGMT	NO
12.00	Authorize trade in company stock			MGMT	NO
13.00	Issue debt instruments			MGMT	NO
14.00	Increase authorized capital			MGMT	NO
	Issue stock w/ preemptive rights
15.00	Increase authorized capital			MGMT	NO
	Issue stock w/o preemptive rights
16.00	Authorize stock authority			MGMT	NO
17.00	Issue stock w/o preemptive rights			MGMT	NO
18.00	Issue stock w/o preemptive rights			MGMT	NO
19.00	Issue debt instruments			MGMT	NO
20.00	Increase authorized capital			MGMT	NO
21.00	Increase authorized capital			MGMT	NO
	Issue stock w/o preemptive rights
22.00	Approve stock option grant			MGMT	NO
23.00	Issue stock w/o preemptive rights			MGMT	NO
24.00	Reduce authorized capital			MGMT	NO
25.00	Authorize legal formalities			MGMT	NO
HCA Inc		HCA	404119109	5/26/05	Annual
1.01	Elect C. Michael Armstrong			MGMT	YES	FOR	FOR
1.02	Elect Magdalena H. Averhoff			MGMT	YES	FOR	FOR
1.03	Elect Jack O. Bovender Jr.			MGMT	YES	FOR	FOR
1.04	Elect Richard M. Bracken			MGMT	YES	FOR	FOR
1.05	Elect Martin S. Feldstein			MGMT	YES	FOR	FOR
1.06	Elect Thomas F. Frist Jr.			MGMT	YES	FOR	FOR
1.07	Elect Frederick W. Gluck			MGMT	YES	FOR	FOR
1.08	Elect Glenda A. Hatchett			MGMT	YES	FOR	FOR
1.09	Elect Charles O. Holliday Jr.			MGMT	YES	FOR	FOR
1.10	Elect T. Michael Long			MGMT	YES	FOR	FOR
1.11	Elect John H. McArthur			MGMT	YES	FOR	FOR
1.12	Elect Kent C. Nelson			MGMT	YES	FOR	FOR
1.13	Elect Frank S. Royal			MGMT	YES	WHOLD	AGNST
1.14	Elect Harold T. Shapiro			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Equity Incentive Plan			MGMT	YES	AGNST	AGNST
Hitachi Ltd		6501	J20454112	6/24/05	Annual
1.00	Amend articles--technical			MGMT	YES	FOR	FOR
	Amend company purpose
2.01	Elect Director Nominee No. 2.1			MGMT	YES	AGNST	AGNST
2.02	Elect Director Nominee No. 2.2			MGMT	YES	AGNST	AGNST
2.03	Elect Director Nominee No. 2.3			MGMT	YES	AGNST	AGNST
2.04	Elect Director Nominee No. 2.4			MGMT	YES	AGNST	AGNST
2.05	Elect Director Nominee No. 2.5			MGMT	YES	AGNST	AGNST
2.06	Elect Director Nominee No. 2.6			MGMT	YES	AGNST	AGNST
2.07	Elect Director Nominee No. 2.7			MGMT	YES	AGNST	AGNST
2.08	Elect Director Nominee No. 2.8			MGMT	YES	AGNST	AGNST
2.09	Elect Director Nominee No. 2.9			MGMT	YES	AGNST	AGNST
2.10	Elect Director Nominee No. 2.10			MGMT	YES	AGNST	AGNST
2.11	Elect Director Nominee No. 2.11			MGMT	YES	AGNST	AGNST
2.12	Elect Director Nominee No. 2.12			MGMT	YES	AGNST	AGNST
2.13	Elect Director Nominee No. 2.13			MGMT	YES	AGNST	AGNST
2.14	Elect Director Nominee No. 2.14			MGMT	YES	AGNST	AGNST
3.00	Approve stock option grant			MGMT	YES	FOR	FOR
Hyundai Motor		005380	Y38472109	3/4/05	Annual
1.00	Approve financial statements			MGMT	YES	FOR	FOR
2.00	Election of directors by slate			MGMT	YES	FOR	FOR
3.00	Elect statutory auditors			MGMT	YES	FOR	FOR
4.00	Approve directors' fees			MGMT	YES	FOR	FOR
5.00	Approve undisclosed article amendments			MGMT	YES	FOR	FOR
Iberdrola		IBE	E6164R104	3/17/05	Annual
1.00	Approve financial statements			MGMT	YES	FOR	FOR
2.00	Set dividend/allocate profits			MGMT	YES	FOR	FOR
3.00	Issue debt instruments			MGMT	YES	FOR	FOR
4.00	Authorize share repurchase			MGMT	YES	FOR	FOR
	Reissuance of shares/treasury stock
5.00	Change stock exchange listing(s)			MGMT	YES	FOR	FOR
6.00	Authorization to create foundations			MGMT	YES	FOR	FOR
7.00	Appoint outside auditors			MGMT	YES	FOR	FOR
8.00	Elect Sebastian Battaner Arias			MGMT	YES	AGNST	AGNST
9.01	Elect Jose Ignacio Sanchez Galan			MGMT	YES	AGNST	AGNST
9.02	Elect Victor Urritia Vallejo			MGMT	YES	AGNST	AGNST
9.03	Elect Ricardo Alvarez Isasi			MGMT	YES	AGNST	AGNST
9.04	Elect Jose Ignacio Berroeta Echevarria			MGMT	YES	AGNST	AGNST
9.05	Elect Juan Luis Arregui Ciarselo			MGMT	YES	AGNST	AGNST
9.06	Elect Julio De Miguel Aynat			MGMT	YES	AGNST	AGNST
9.07	Elect Sebastian Battaner Arias			MGMT	YES	AGNST	AGNST
10.00	Authorize legal formalities			MGMT	YES	FOR	FOR
InBev		INB	B5096U121	4/26/05	Annual
1.00	NV -- Receive statutory reports			MGMT	NO
2.00	NV -- Receive statutory reports			MGMT	NO
3.00	NV -- Receive statutory reports			MGMT	NO
4.00	Approve financial statements			MGMT	NO
	Set Dividend at 0.39
5.00	Ratify board acts-legal			MGMT	NO
6.00	Ratify acts of auditors			MGMT	NO
7.01	Elect Kees J. Storm			MGMT	NO
7.02	Elect Peter Harf			MGMT	NO
7.03	Elect Allan Meville Chapin			MGMT	NO
7.04	Elect Count Arnoud de Pret Roose de Calesberg			MGMT	NO
8.00	Approve remuneration policy			MGMT	NO
9.00	Consider other business			MGMT	NO
InBev		INB	B5096U121	4/26/05	Special
1.01	NV -- Receive statutory reports			MGMT	NO
1.02	Increase authorized capital			MGMT	NO
2.01	Authorize share repurchase			MGMT	NO
2.02	Authorize share repurchase			MGMT	NO
3.00	Authorize legal formalities			MGMT	NO
4.01	NV -- Receive statutory reports			MGMT	NO
4.02	NV -- Receive statutory reports			MGMT	NO
4.03	Issue stock w/o preemptive rights			MGMT	NO
4.04	Approve stock option grant			MGMT	NO
4.05	Increase authorized capital			MGMT	NO
5.01	Authorize legal formalities			MGMT	NO
5.02	Authorize legal formalities			MGMT	NO
Industria de Diseno Textil (Inditex)			7111314	7/16/04	Annual
1.00	Approve Financial Statements			MGMT	YES	FOR	FOR
2.00	Set Dividend at 0.35			MGMT	YES	FOR	FOR
3.01	Elect Juan Carlos Rodriguez Cebrian			MGMT	YES	FOR	FOR
3.02	Elect Carlos Espinosa de los Mont. Bern. de Quiros			MGMT	YES	FOR	FOR
3.03	Elect Francisco Luzon Lopez			MGMT	YES	FOR	FOR
4.00	Authorize Creation of Preferred Stock			MGMT	YES	ABSTAIN	AGNST
	Amend Meeting Procedures/Change Date
	Amend Articles--Technical
	Amend Board Powers/Procedures/Qualifications
	Amend Articles on Share Issues
5.00	Amend Meeting Procedures/Change Date			MGMT	YES	FOR	FOR
6.00	Authorize Share Repurchase			MGMT	YES	FOR	FOR
7.00	Authorize Legal Formalities			MGMT	YES	FOR	FOR
Intel Corp		INTC	458140100	5/18/05	Annual
1.01	Elect Craig R. Barrett			MGMT	YES	FOR	FOR
1.02	Elect Charlene Barshefsky			MGMT	YES	FOR	FOR
1.03	Elect E. John P. Browne			MGMT	YES	FOR	FOR
1.04	Elect D. James Guzy			MGMT	YES	FOR	FOR
1.05	Elect Reed E. Hundt			MGMT	YES	FOR	FOR
1.06	Elect Paul S. Otellini			MGMT	YES	FOR	FOR
1.07	Elect David S. Pottruck			MGMT	YES	FOR	FOR
1.08	Elect Jane E. Shaw			MGMT	YES	FOR	FOR
1.09	Elect John L. Thornton			MGMT	YES	FOR	FOR
1.10	Elect David B. Yoffie			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2004 Equity Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Amend annual bonus plan			MGMT	YES	FOR	FOR
Japan Tobacco Inc		2914	J27869106	6/24/05	Annual
1.00	Allocate dividend			MGMT	YES	FOR	FOR
2.01	Elect Director Nominee No. 2.1			MGMT	YES	FOR	FOR
2.02	Elect Director Nominee No. 2.2			MGMT	YES	FOR	FOR
3.01	Elect statutory auditors			MGMT	YES	FOR	FOR
4.00	Approve bonuses for retiring directors			MGMT	YES	FOR	FOR
	Approve bonuses for retiring statutory auditors
Johnson & Johnson		JNJ	478160104	4/28/05	Annual
1.01	Elect Mary S. Coleman			MGMT	YES	FOR	FOR
1.02	Elect James G. Cullen			MGMT	YES	FOR	FOR
1.03	Elect Robert J. Darretta			MGMT	YES	FOR	FOR
1.04	Elect Michael M. E. Johns			MGMT	YES	FOR	FOR
1.05	Elect Ann Dibble Jordan			MGMT	YES	FOR	FOR
1.06	Elect Arnold G. Langbo			MGMT	YES	FOR	FOR
1.07	Elect Susan L. Lindquist			MGMT	YES	FOR	FOR
1.08	Elect Leo F. Mullin			MGMT	YES	FOR	FOR
1.09	Elect Christine A. Poon			MGMT	YES	FOR	FOR
1.10	Elect Steven S. Reinemund			MGMT	YES	FOR	FOR
1.11	Elect David Satcher			MGMT	YES	FOR	FOR
1.12	Elect William C. Weldon			MGMT	YES	FOR	FOR
2.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
KBC Group NV		KBC	B5337G162	4/28/05	Annual
4.00	Approve financial statements			MGMT	NO
8.00	Approve financial statements			MGMT	NO
9.00	Set Dividend at 1.84			MGMT	NO
10.00	Ratify board acts-legal			MGMT	NO
11.00	Ratify board acts-legal			MGMT	NO
12.00	Ratify acts of auditors			MGMT	NO
13.00	Ratify acts of auditors			MGMT	NO
14.00	Elect Luc Philips			MGMT	NO
15.00	Set auditors' fees			MGMT	NO
16.00	Authorize share repurchase			MGMT	NO
KT Corp		KTC	48268K101	3/11/05	Annual
1.00	Approve financial statements			MGMT	YES	FOR	FOR
	Set Dividend at 2000.00
2.00	Amend articles--technical			MGMT	YES	FOR	FOR
3.01	Elect Jeong Soo Suh			MGMT	YES	FOR	FOR
3.02	Elect Solomon Stuart B.			MGMT	YES	FOR	FOR
3.03	Elect Thae Surn Khwarg			MGMT	YES	FOR	FOR
3.04	Elect dissident director(s)			SHLDR	YES	AGNST	FOR
4.00	Approve directors' fees			MGMT	YES	FOR	FOR
L-3 Communications Holdings Inc		LLL	502424104	4/26/05	Annual
1.01	Elect Frank C. Lanza			MGMT	YES	FOR	FOR
1.02	Elect John M. Shalikashvili			MGMT	YES	FOR	FOR
1.03	Elect John P. White			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Laboratory Corp of America Holdings		LH	50540R409	5/18/05	Annual
1.01	Elect Thomas P. Mac Mahon			MGMT	YES	FOR	FOR
1.02	Elect Jean-Luc Belingard			MGMT	YES	FOR	FOR
1.03	Elect Wendy E. Lane			MGMT	YES	FOR	FOR
1.04	Elect Robert E. Mittelstaedt Jr.			MGMT	YES	FOR	FOR
1.05	Elect Arthur H. Rubenstein			MGMT	YES	FOR	FOR
1.06	Elect Andrew G. Wallace			MGMT	YES	FOR	FOR
1.07	Elect M. Keith Weikel			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Lehman Brothers Holdings Inc		LEH	524908100	4/5/05	Annual
1.01	Elect Michael L. Ainslie			MGMT	YES	FOR	FOR
1.02	Elect John F. Akers			MGMT	YES	FOR	FOR
1.03	Elect Richard S. Fuld Jr.			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
LG Electronics Inc		066570	Y5275H177	3/11/05	Annual
1.00	Approve financial statements			MGMT	YES	FOR	FOR
	Set Final Dividend at 1500.00
2.00	Approve undisclosed article amendments			MGMT	YES	AGNST	AGNST
3.00	Election of directors by slate			MGMT	YES	AGNST	AGNST
4.00	Approve directors' fees			MGMT	YES	FOR	FOR
Lockheed Martin Corp		LMT	539830109	4/28/05	Annual
1.01	Elect E.C. Aldridge Jr.			MGMT	YES	WHOLD	AGNST
1.02	Elect Nolan D. Archibald			MGMT	YES	WHOLD	AGNST
1.03	Elect Marcus C. Bennett			MGMT	YES	WHOLD	AGNST
1.04	Elect James O.Ellis			MGMT	YES	WHOLD	AGNST
1.05	Elect Gwendolyn S. King			MGMT	YES	WHOLD	AGNST
1.06	Elect Douglas H. McCorkindale			MGMT	YES	WHOLD	AGNST
1.07	Elect Eugene F. Murphy			MGMT	YES	WHOLD	AGNST
1.08	Elect Joseph W. Ralston			MGMT	YES	WHOLD	AGNST
1.09	Elect Frank Savage			MGMT	YES	WHOLD	AGNST
1.10	Elect Anne Stevens			MGMT	YES	FOR	FOR
1.11	Elect Robert J. Stevens			MGMT	YES	WHOLD	AGNST
1.12	Elect James R. Ukropina			MGMT	YES	WHOLD	AGNST
1.13	Elect Douglas C. Yearley			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Add Shares to Stock Incentive Plan			MGMT	YES	AGNST	AGNST
	Amend Stock Incentive Plan
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
5.00	Eliminate supermajority provision			SHLDR	YES	FOR	AGNST
6.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
7.00	Review/develop broad social standards			SHLDR	YES	AGNST	FOR
Lowe's Companies Inc		LOW	548661107	5/27/05	Annual
1.01	Elect Robert Alexander Ingram			MGMT	YES	WHOLD	AGNST
1.02	Elect Richard K. Lochridge			MGMT	YES	FOR	FOR
1.03	Elect Robert L. Johnson			MGMT	YES	FOR	FOR
2.00	Amend Director Stock Incentive Plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Marathon Oil Corp		MRO	565849106	4/27/05	Annual
1.01	Elect Shirley A. Jackson			MGMT	YES	FOR	FOR
1.02	Elect Philip Lader			MGMT	YES	FOR	FOR
1.03	Elect Seth E. Schofield			MGMT	YES	FOR	FOR
1.04	Elect Douglas C. Yearley			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Repeal classified board			SHLDR	YES	FOR	AGNST
4.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR
MBNA Corp		KRB	55262L100	5/2/05	Annual
1.01	Elect James H. Berick			MGMT	YES	WHOLD	AGNST
1.02	Elect Mary M. Boies			MGMT	YES	WHOLD	AGNST
1.03	Elect Benjamin R. Civiletti			MGMT	YES	WHOLD	AGNST
1.04	Elect Bruce L. Hammonds			MGMT	YES	WHOLD	AGNST
1.05	Elect William L. Jews			MGMT	YES	WHOLD	AGNST
1.06	Elect Randolph D. Lerner			MGMT	YES	WHOLD	AGNST
1.07	Elect Stuart L. Markowitz			MGMT	YES	WHOLD	AGNST
1.08	Elect William B. Milstead			MGMT	YES	WHOLD	AGNST
1.09	Elect Thomas G. Murdough			MGMT	YES	WHOLD	AGNST
1.10	Elect Laura S. Unger			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	AGNST	AGNST
3.00	Expense stock options			SHLDR	YES	AGNST	FOR
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
McDonald's Corp		MCD	580135101	5/11/05	Annual
1.01	Elect Hall Adams Jr.			MGMT	YES	FOR	FOR
1.02	Elect Cary D. McMillan			MGMT	YES	FOR	FOR
1.03	Elect Michael J. Roberts			MGMT	YES	FOR	FOR
1.04	Elect James A. Skinner			MGMT	YES	FOR	FOR
1.05	Elect Anne-Marie Slaughter			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Review or curb bioengineering			SHLDR	YES	AGNST	FOR
Mediaset		MS	T6688Q107	4/27/05	Annual
1.00	Approve financial statements			MGMT	NO
	Set Final Dividend at 0.38
2.00	Authorize trade in company stock			MGMT	NO
3.00	Appoint auditors and set their fees			MGMT	NO
4.00	Elect statutory auditors			MGMT	NO
	Approve maximum statutory auditors' fee
Medtronic Inc		MDT	585055106	8/26/04	Annual
1.01	Elect William R. Brody			MGMT	YES	WHOLD	AGNST
1.02	Elect Arthur D. Collins Jr.			MGMT	YES	FOR	FOR
1.03	Elect Antonio M. Gotto Jr.			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
3.00	Limit or End Charitable Giving			SHLDR	YES	AGNST	FOR
Michaels Stores Inc		MIK	594087108	6/16/05	Annual
1.01	Elect Charles J. Wyly Jr.			MGMT	YES	FOR	FOR
1.02	Elect Sam Wyly			MGMT	YES	FOR	FOR
1.03	Elect Richard E. Hanlon			MGMT	YES	FOR	FOR
1.04	Elect Richard C. Marcus			MGMT	YES	FOR	FOR
1.05	Elect Liz Minyard			MGMT	YES	FOR	FOR
1.06	Elect Cece Smith			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Incentive Compensation Plan			MGMT	YES	AGNST	AGNST
Microsoft Corp		MSFT	594918104	11/9/04	Annual
1.01	Elect William H. Gates III			MGMT	YES	FOR	FOR
1.02	Elect Steven A. Ballmer			MGMT	YES	FOR	FOR
1.03	Elect James I. Cash Jr.			MGMT	YES	FOR	FOR
1.04	Elect Raymond V. Gilmartin			MGMT	YES	FOR	FOR
1.05	Elect Ann McLaughlin Korologos			MGMT	YES	FOR	FOR
1.06	Elect David F. Marquardt			MGMT	YES	FOR	FOR
1.07	Elect Charles H. Noski			MGMT	YES	FOR	FOR
1.08	Elect Helmut Panke			MGMT	YES	FOR	FOR
1.09	Elect Jon A. Shirley			MGMT	YES	FOR	FOR
2.00	Amend Stock Option Plan			MGMT	YES	FOR	FOR
3.00	Amend Director Stock Option Plan			MGMT	YES	FOR	FOR
4.00	Reapprove Option/Bonus Plan for OBRA			MGMT	YES	FOR	FOR
5.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
Network Appliance Inc		NTAP	64120L104	9/2/04	Annual
1.01	Elect Daniel J. Warmenhoven			MGMT	YES	FOR	FOR
1.02	Elect Donald T. Valentine			MGMT	YES	FOR	FOR
1.03	Elect Carol A. Bartz			MGMT	YES	FOR	FOR
1.04	Elect Mark Leslie			MGMT	YES	FOR	FOR
1.05	Elect Nicholas G. Moore			MGMT	YES	FOR	FOR
1.06	Elect Sachio Semmoto			MGMT	YES	FOR	FOR
1.07	Elect George T. Shaheen			MGMT	YES	FOR	FOR
1.08	Elect Robert T. Wall			MGMT	YES	FOR	FOR
2.00	Add Shares to Stock Option Plan			MGMT	YES	FOR	FOR
	Amend Stock Option Plan
3.00	Add Shares to Employee Stock Purchase Plan			MGMT	YES	FOR	FOR
4.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
Nobel Biocare			H5783Q106	4/28/05	Annual
1.00	Approve financial statements			MGMT	NO
2.00	Set dividend/allocate profits			MGMT	NO
3.00	Approve use/transfer of reserves			MGMT	NO
4.00	Ratify board acts-legal			MGMT	NO
5.01	Election of directors by slate			MGMT	NO
5.02	Election of directors by slate			MGMT	NO
5.03	Appoint outside auditors			MGMT	NO
6.01	Relocate corporate headquarters			MGMT	NO
6.02	Amend meeting procedures/change date			MGMT	NO
NTL		NTLI	62940M104	5/19/05	Annual
1.01	Elect James F. Mooney			MGMT	YES	WHOLD	AGNST
1.02	Elect William R. Huff			MGMT	YES	WHOLD	AGNST
1.03	Elect George R. Zoffinger			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Bonus Scheme			MGMT	YES	FOR	FOR
4.00	Adopt the NTL Long Term Incentive Plan			MGMT	YES	FOR	FOR
NVR Inc		NVR	62944T105	5/4/05	Annual
1.01	Elect Dwight C. Schar			MGMT	YES	FOR	FOR
1.02	Elect Robert C. Butler			MGMT	YES	FOR	FOR
1.03	Elect George E. Slye			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR
Omron		6645	J61374120	6/23/05	Annual
1.00	Allocate dividend			MGMT	YES	FOR	FOR
2.00	Amend articles--technical			MGMT	YES	FOR	FOR
3.00	Authorize share repurchase			MGMT	YES	FOR	FOR
4.01	Elect Director Nominee No. 4.1			MGMT	YES	AGNST	AGNST
4.02	Elect Director Nominee No. 4.2			MGMT	YES	AGNST	AGNST
4.03	Elect Director Nominee No. 4.3			MGMT	YES	AGNST	AGNST
4.04	Elect Director Nominee No. 4.4			MGMT	YES	AGNST	AGNST
4.05	Elect Director Nominee No. 4.5			MGMT	YES	AGNST	AGNST
4.06	Elect Director Nominee No. 4.6			MGMT	YES	AGNST	AGNST
4.07	Elect Director Nominee No. 4.7			MGMT	YES	AGNST	AGNST
5.01	Elect statutory auditors			MGMT	YES	FOR	FOR
5.02	Elect statutory auditors			MGMT	YES	FOR	FOR
6.00	Approve stock option grant			MGMT	YES	FOR	FOR
Oracle Corp		ORCL	68389X105	10/29/04	Annual
1.01	Elect Jeffrey O. Henley			MGMT	YES	FOR	FOR
1.02	Elect Lawrence J. Ellison			MGMT	YES	FOR	FOR
1.03	Elect Donald L. Lucas			MGMT	YES	FOR	FOR
1.04	Elect Michael J. Boskin			MGMT	YES	FOR	FOR
1.05	Elect Jack F. Kemp			MGMT	YES	FOR	FOR
1.06	Elect Jeffrey Berg			MGMT	YES	FOR	FOR
1.07	Elect Safra Catz			MGMT	YES	FOR	FOR
1.08	Elect Hector Garcia-Molina			MGMT	YES	FOR	FOR
1.09	Elect Joseph Grundfest			MGMT	YES	FOR	FOR
1.10	Elect H. Raymond Bingham			MGMT	YES	WHOLD	AGNST
1.11	Elect Charles E. Phillips Jr.			MGMT	YES	FOR	FOR
2.00	Approve Annual Bonus Plan			MGMT	YES	FOR	FOR
3.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
4.00	Amend Stock Option Plan			MGMT	YES	FOR	FOR
5.00	China--Adopt Code of Conduct			SHLDR	YES	AGNST	FOR
Orient Overseas International			G67749120	4/22/05	Annual
1.00	Approve financial statements			MGMT	YES	FOR	FOR
2.00	Set Final Dividend at 0.18			MGMT	YES	FOR	FOR
3.00	Approve special dividend/bonus share issue			MGMT	YES	FOR	FOR
4.00	Approve directors' fees			MGMT	YES	FOR	FOR
	Election of directors by slate
5.00	Appoint auditors and set their fees			MGMT	YES	FOR	FOR
6.01	Issue stock w/o preemptive rights			MGMT	YES	AGNST	AGNST
6.02	Authorize share repurchase			MGMT	YES	FOR	FOR
6.03	Reissuance of shares/treasury stock			MGMT	YES	FOR	FOR
7.00	Amend articles--technical			MGMT	YES	FOR	FOR
Petroleo Brasileiro (Petrobras)		PBR	71654V408	3/31/05	Annual
1.00	Approve financial statements			MGMT	YES	FOR	FOR
2.00	Authorize legal formalities			MGMT	YES	FOR	FOR
3.00	Set Dividend at 4.60			MGMT	YES	FOR	FOR
4.00	Election of directors by slate			MGMT	YES	AGNST	AGNST
	Elect statutory auditors
5.00	Elect board chairman			MGMT	YES	FOR	FOR
6.00	Approve directors' fees			MGMT	YES	FOR	FOR
	Approve maximum statutory auditors' fee
Pfizer Inc		PFE	717081103	4/28/05	Annual
1.01	Elect Michael S. Brown			MGMT	YES	FOR	FOR
1.02	Elect M. Anthony Burns			MGMT	YES	FOR	FOR
1.03	Elect Robert N. Burt			MGMT	YES	FOR	FOR
1.04	Elect W. Don Cornwell			MGMT	YES	FOR	FOR
1.05	Elect William H. Gray III			MGMT	YES	FOR	FOR
1.06	Elect Constance J. Horner			MGMT	YES	FOR	FOR
1.07	Elect William R. Howell			MGMT	YES	FOR	FOR
1.08	Elect Stanley O. Ikenberry			MGMT	YES	FOR	FOR
1.09	Elect George A. Lorch			MGMT	YES	FOR	FOR
1.10	Elect Henry A. McKinnell Jr.			MGMT	YES	FOR	FOR
1.11	Elect Dana G. Mead			MGMT	YES	FOR	FOR
1.12	Elect Ruth J. Simmons			MGMT	YES	FOR	FOR
1.13	Elect William C. Steere Jr.			MGMT	YES	FOR	FOR
1.14	Elect Jean-Paul Valles			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Director tenure/retirement age			SHLDR	YES	AGNST	FOR
4.00	Review drug pricing or distribution			SHLDR	YES	AGNST	FOR
5.00	Review drug pricing or distribution			SHLDR	YES	AGNST	FOR
6.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR
7.00	Review drug pricing or distribution			SHLDR	YES	AGNST	FOR
8.00	Independent board chairman			SHLDR	YES	AGNST	FOR
Pride International Inc		PDE	74153Q102	5/12/05	Annual
1.01	Elect Robert L. Barbanell			MGMT	YES	FOR	FOR
1.02	Elect Paul A. Bragg			MGMT	YES	FOR	FOR
1.03	Elect David A. B. Brown			MGMT	YES	FOR	FOR
1.04	Elect J.C. Burton			MGMT	YES	FOR	FOR
1.05	Elect Archie W. Dunham			MGMT	YES	FOR	FOR
1.06	Elect Ralph D. McBride			MGMT	YES	FOR	FOR
1.07	Elect David B. Robson			MGMT	YES	FOR	FOR
2.00	Add shares to employee stock purchase plan			MGMT	YES	FOR	FOR
Putnam Prime Money Market Fund			746763432	11/11/04	Special
1.01	Elect Trustee J.A. Baxter			MGMT	YES	FOR	FOR
1.02	Elect Trustee E.T. Kennan			MGMT	YES	FOR	FOR
1.03	Elect Trustee C.B. Curtis			MGMT	YES	FOR	FOR
1.04	Elect Trustee J.H. Mullin, III			MGMT	YES	FOR	FOR
1.05	Elect Trustee M.R. Drucker			MGMT	YES	FOR	FOR
1.06	Elect Trustee R.E. Patterson			MGMT	YES	FOR	FOR
1.07	Elect Trustee C.E. Haldeman, Jr.			MGMT	YES	FOR	FOR
1.08	Elect Trustee G. Putnam, III			MGMT	YES	FOR	FOR
1.09	Elect Trustee J.A. Hill			MGMT	YES	FOR	FOR
1.10	Elect Trustee A.J.C. Smith			MGMT	YES	FOR	FOR
1.11	Elect Trustee R. J. Jackson			MGMT	YES	FOR	FOR
1.12	Elect Trustee W.T. Stephens			MGMT	YES	FOR	FOR
1.13	Elect Trustee P.L. Joskow			MGMT	YES	FOR	FOR
1.14	Elect Trustee R.B. Worley			MGMT	YES	FOR	FOR
2.00	Amend fund's fundamental investment restriction with respect to borrowing			MGMT	N/A	N/A	N/A
2.01	Amend fund's fundamental investment restriction with respect to making loans			MGMT	N/A	N/A	N/A
2.02	Amend fund's fundamental investment restriction with respect to diversification of investments			MGMT	YES	FOR	FOR
2.03	Amend fund's fundamental investment restriction with respect to issuance of senior securities			MGMT	N/A	N/A	N/A
2.04	Amend fund's fundamental investment restriction with respect to purchasing or selling options, puts, calls, straddles and spreads			MGMT	N/A	N/A	N/A
2.05	Amend fund's fundamental investment restriction with respect to investments in commodities			MGMT	N/A	N/A	N/A
3.00	Amend fund's Agreement and Declaration of Trust			MGMT	YES	FOR	FOR
Radian Group Inc		RDN	750236101	5/10/05	Annual
1.01	Elect David C. Carney			MGMT	YES	FOR	FOR
1.02	Elect Howard B. Culang			MGMT	YES	FOR	FOR
1.03	Elect Stephen T. Hopkins			MGMT	YES	FOR	FOR
1.04	Elect Sanford A. Ibrahim			MGMT	YES	FOR	FOR
1.05	Elect James W. Jennings			MGMT	YES	FOR	FOR
1.06	Elect Roy J. Kasmar			MGMT	YES	FOR	FOR
1.07	Elect Ronald W. Moore			MGMT	YES	FOR	FOR
1.08	Elect Jan Nicholson			MGMT	YES	FOR	FOR
1.09	Elect Robert W. Richards			MGMT	YES	FOR	FOR
1.10	Elect Anthony W. Schweiger			MGMT	YES	FOR	FOR
1.11	Elect Herbert Wender			MGMT	YES	FOR	FOR
2.00	Adopt the Performance Share Plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Reckitt Benckiser PLC		RB	G7420A107	5/5/05	Annual
1.00	Approve financial statements			MGMT	YES	FOR	FOR
2.00	Approve remuneration policy			MGMT	YES	FOR	FOR
3.00	To declare a dividend			MGMT	YES	FOR	FOR
4.00	To re-elect as a director Adrian Bellamy			MGMT	YES	AGNST	AGNST
5.00	To re-elect as a director George Greener			MGMT	YES	AGNST	AGNST
6.00	To elect as a director Graham Mackay			MGMT	YES	FOR	FOR
7.00	Appoint auditors and set their fees			MGMT	YES	FOR	FOR
8.00	Issue stock w/ preemptive rights			MGMT	YES	FOR	FOR
9.00	Issue stock w/o preemptive rights			MGMT	YES	FOR	FOR
10.00	Authorize share repurchase			MGMT	YES	FOR	FOR
11.00	Approve stock purchase plan/SAYE/AESOP			MGMT	YES	AGNST	AGNST
12.00	Approve stock purchase plan/SAYE/AESOP			MGMT	YES	AGNST	AGNST
13.00	Approve option/purchase plan - overseas employees			MGMT	YES	FOR	FOR
14.00	Amend stock option plan			MGMT	YES	FOR	FOR
Renault SA			F77098105	4/29/05	Annual
1.00	Approve financial statements			MGMT	NO
2.00	Approve financial statements			MGMT	NO
3.00	Set Dividend at 2.10			MGMT	NO
4.00	Approve related party transactions			MGMT	NO
5.00	Elect Dominique de la Garanderie			MGMT	NO
6.00	Elect Itaru Koeda			MGMT	NO
7.00	Elect Louis Schweitzer			MGMT	NO
8.00	Ratify board acts-symbolic			MGMT	NO
9.00	NV -- Receive statutory reports			MGMT	NO
10.00	Authorize trade in company stock			MGMT	NO
11.00	Issue debt instruments			MGMT	NO
12.00	Reduce authorized capital			MGMT	NO
13.00	Issue stock w/ preemptive rights			MGMT	NO
	Increase authorized capital
14.00	Increase authorized capital			MGMT	NO
	Issue stock w/o preemptive rights
15.00	Issue stock w/o preemptive rights			MGMT	NO
16.00	Limit capital increase			MGMT	NO
17.00	Increase authorized capital			MGMT	NO
18.00	Issue stock w/o preemptive rights			MGMT	NO
19.00	Amend shareholder disclosure rules			MGMT	NO
20.00	Authorize legal formalities			MGMT	NO
Rinker Group Ltd		RIN	6599386	7/20/04	Annual
1.00	Approve Financial Statements			MGMT	YES	FOR	FOR
2.00	Approve Remuneration Policy			MGMT	YES	FOR	FOR
3.01	Elect John Morschel			MGMT	YES	FOR	FOR
3.02	Elect John Ingram			MGMT	YES	FOR	FOR
4.00	Approve Directors' Fees			MGMT	YES	FOR	FOR
Royal Bank of Scotland Group			G76891111	4/20/05	Annual
1.00	Approve financial statements			MGMT	YES	FOR	FOR
2.00	Approve remuneration policy			MGMT	YES	FOR	FOR
3.00	Set Final Dividend at 41.20p			MGMT	YES	FOR	FOR
4.00	Elect Jim Currie			MGMT	YES	FOR	FOR
5.00	Elect Frederick A. Goodwin			MGMT	YES	FOR	FOR
6.00	Elect Sir Steve Robson			MGMT	YES	FOR	FOR
7.00	Elect Archie Hunter			MGMT	YES	FOR	FOR
8.00	Elect Charles John Koch			MGMT	YES	FOR	FOR
9.00	Elect Joseph MacHale			MGMT	YES	FOR	FOR
10.00	Appoint outside auditors			MGMT	YES	FOR	FOR
11.00	Set auditors' fees			MGMT	YES	FOR	FOR
12.00	Increase authorized capital			MGMT	YES	FOR	FOR
13.00	Issue stock w/o preemptive rights			MGMT	YES	FOR	FOR
14.00	Authorize share repurchase			MGMT	YES	FOR	FOR
15.00	Approve Issue of preferred stock			MGMT	YES	FOR	FOR
16.00	Approve executive profit sharing/bonus plan			MGMT	YES	FOR	FOR
Samsung Electronics Co Ltd		005930	Y74718100	2/28/05	Annual
1.00	Approve financial statements			MGMT	YES	FOR	FOR
	Set Final Dividend at 5000.00
2.00	Elect In-Joo Kim			MGMT	YES	AGNST	AGNST
3.00	Approve directors' fees			MGMT	YES	FOR	FOR
SanDisk Corp		SNDK	80004C101	5/27/05	Annual
1.01	Elect Dr.Eli Harari			MGMT	YES	FOR	FOR
1.02	Elect Irwin Federman			MGMT	YES	FOR	FOR
1.03	Elect Catherine P. Lego			MGMT	YES	FOR	FOR
1.04	Elect Michael E. Marks			MGMT	YES	FOR	FOR
1.05	Elect Dr.James D. Meindl			MGMT	YES	FOR	FOR
1.06	Elect Alan F. Shugart			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Adopt the 2005 Employee Stock Purchase Plan			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
Sankyo (drugs)		4501	J67822106	6/29/05	Annual
1.00	Allocate dividend			MGMT	YES	FOR	FOR
2.00	Create parent holding company			MGMT	YES	FOR	FOR
3.01	Elect Director Nominee No. 3.1			MGMT	YES	FOR	FOR
3.02	Elect Director Nominee No. 3.2			MGMT	YES	FOR	FOR
3.03	Elect Director Nominee No. 3.3			MGMT	YES	FOR	FOR
3.04	Elect Director Nominee No. 3.4			MGMT	YES	FOR	FOR
3.05	Elect Director Nominee No. 3.5			MGMT	YES	FOR	FOR
3.06	Elect Director Nominee No. 3.6			MGMT	YES	FOR	FOR
3.07	Elect Director Nominee No. 3.7			MGMT	YES	FOR	FOR
3.08	Elect Director Nominee No. 3.8			MGMT	YES	FOR	FOR
3.09	Elect Director Nominee No. 3.9			MGMT	YES	FOR	FOR
4.00	Approve bonuses for retiring directors			MGMT	YES	FOR	FOR
5.00	Approve directors' fees			MGMT	YES	FOR	FOR
	Approve maximum statutory auditors' fee
Siemens AG		SI	826197501	1/27/05	Annual
3.00	Set Final Dividend at 1.25			MGMT	YES	FOR	FOR
4.00	Ratify management acts-symbolic			MGMT	YES	AGNST	AGNST
5.00	Ratify board acts-symbolic			MGMT	YES	AGNST	AGNST
6.00	Appoint outside auditors			MGMT	YES	FOR	FOR
7.00	Elect supervisory board/corporate assembly			MGMT	YES	AGNST	AGNST
	Appoint board advisors/deputy dirs/alternate dirs
8.00	Authorize share repurchase			MGMT	YES	FOR	FOR
	Reissuance of shares/treasury stock
9.00	Approve supervisory board/corp. assembly fees			MGMT	YES	AGNST	AGNST
10.00	Amend articles--technical			MGMT	YES	AGNST	AGNST
SKF AB			W84237143	4/19/05	Annual
2.00	Election of a chairman for the meeting			MGMT	NO
9.00	Approve financial statements			MGMT	NO
10.00	Set Final Dividend at 12.00			MGMT	NO
11.00	Ratify management acts-legal			MGMT	NO
	Ratify board acts-legal
12.00	Set board/supervisory board size limits			MGMT	NO
13.00	Approve directors' fees			MGMT	NO
14.00	Election of directors by slate			MGMT	NO
15.00	Set number of auditors			MGMT	NO
16.00	Set auditors' fees			MGMT	NO
17.00	Appoint outside auditors			MGMT	NO
18.01	Amend/remove par value			MGMT	NO
	Authorize new stock class
	Amend articles to reflect capital inc/decrease
18.02	Reduce authorized capital			MGMT	NO
18.03	Issue stock w/o preemptive rights			MGMT	NO
18.04	Reduce authorized capital			MGMT	NO
	Approve use/transfer of reserves
19.00	Elect board committee			MGMT	NO
Symantec Corp		SYMC	871503108	9/15/04	Annual
1.01	Elect Tania Amochaev			MGMT	YES	FOR	FOR
1.02	Elect William Coleman			MGMT	YES	FOR	FOR
1.03	Elect Franciscus Lion			MGMT	YES	FOR	FOR
1.04	Elect David Mahoney			MGMT	YES	FOR	FOR
1.05	Elect Robert Stevens Miller Jr.			MGMT	YES	FOR	FOR
1.06	Elect George Reyes			MGMT	YES	FOR	FOR
1.07	Elect Daniel H. Schulman			MGMT	YES	FOR	FOR
1.08	Elect John W. Thompson			MGMT	YES	FOR	FOR
2.00	Increase Authorized Common Stock			MGMT	YES	FOR	FOR
3.00	Adopt Stock Option Plan			MGMT	YES	FOR	FOR
4.00	Add Shares to Director Stock Award Plan			MGMT	YES	FOR	FOR
5.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
Takeda Pharmaceutical Co		4502	J8129E108	6/29/05	Annual
1.00	Allocate dividend			MGMT	YES	FOR	FOR
2.00	Increase authorized capital			MGMT	YES	FOR	FOR
	Set board/supervisory board size limits
	Set number of statutory auditors
	Authorize changes to voting record date
3.01	Elect Director Nominee No. 3.1			MGMT	YES	FOR	FOR
3.02	Elect Director Nominee No. 3.2			MGMT	YES	FOR	FOR
3.03	Elect Director Nominee No. 3.3			MGMT	YES	FOR	FOR
3.04	Elect Director Nominee No. 3.4			MGMT	YES	FOR	FOR
3.05	Elect Director Nominee No. 3.5			MGMT	YES	FOR	FOR
4.01	Elect statutory auditors			MGMT	YES	FOR	FOR
5.00	Approve bonuses for retiring directors			MGMT	YES	AGNST	AGNST
	Approve bonuses for retiring statutory auditors
TELUS Corp		TU	87971M202	5/4/05	Annual
2.00	Amend supermajority requirement			MGMT	YES	FOR	FOR
	Amend articles--technical
4.00	Amend articles to reflect regulatory changes			MGMT	YES	FOR	FOR
9.00	Adopt poison-pill-style defense			MGMT	YES	FOR	FOR
Tokyo Gas		9531	J87000105	6/29/05	Annual
1.00	Allocate dividend			MGMT	YES	FOR	FOR
2.00	Amend articles--technical			MGMT	YES	FOR	FOR
3.00	Authorize share repurchase			MGMT	YES	FOR	FOR
4.01	Elect Director Nominee No. 4.1			MGMT	YES	AGNST	AGNST
4.02	Elect Director Nominee No. 4.2			MGMT	YES	AGNST	AGNST
4.03	Elect Director Nominee No. 4.3			MGMT	YES	AGNST	AGNST
4.04	Elect Director Nominee No. 4.4			MGMT	YES	AGNST	AGNST
4.05	Elect Director Nominee No. 4.5			MGMT	YES	AGNST	AGNST
4.06	Elect Director Nominee No. 4.6			MGMT	YES	AGNST	AGNST
4.07	Elect Director Nominee No. 4.7			MGMT	YES	AGNST	AGNST
4.08	Elect Director Nominee No. 4.8			MGMT	YES	AGNST	AGNST
4.09	Elect Director Nominee No. 4.9			MGMT	YES	AGNST	AGNST
4.10	Elect Director Nominee No. 4.10			MGMT	YES	AGNST	AGNST
4.11	Elect Director Nominee No. 4.11			MGMT	YES	AGNST	AGNST
4.12	Elect Director Nominee No. 4.12			MGMT	YES	AGNST	AGNST
5.01	Elect statutory auditors			MGMT	YES	FOR	FOR
5.02	Elect statutory auditors			MGMT	YES	FOR	FOR
6.00	Approve bonuses for retiring directors			MGMT	YES	FOR	FOR
	Approve bonuses for retiring statutory auditors
	Bonus for ending director retirement bonuses
	Bonus for ending stat auditor retirement bonuses
7.00	Approve directors' fees			MGMT	YES	FOR	FOR
TPG NV			N31143105	4/7/05	Annual
1.00	NV -- Opening of meeting			MGMT	NO
2.00	NV -- Misc non-U.S. mgt. non-voting			MGMT	NO
3.00	NV -- Misc non-U.S. mgt. non-voting			MGMT	NO
4.00	NV -- Misc non-U.S. mgt. non-voting			MGMT	NO
5.01	Approve financial statements			MGMT	NO
5.02	Set Dividend at 0.57			MGMT	NO
5.03	Ratify management acts-legal			MGMT	NO
5.04	Ratify board acts-legal			MGMT	NO
6.00	Approve remuneration policy			MGMT	NO
7.00	Approve supervisory board/corp. assembly fees			MGMT	NO
8.00	Elect Harry M. Koorstra			MGMT	NO
9.01	Authorize legal formalities			MGMT	NO
9.02	Authorize legal formalities			MGMT	NO
9.03	Authorize legal formalities			MGMT	NO
9.04	Elect supervisory board/corporate assembly			MGMT	NO
9.05	Authorize legal formalities			MGMT	NO
10.01	Issue stock w/ preemptive rights			MGMT	NO
	Approve Issue of preferred stock
10.02	Issue stock w/o preemptive rights			MGMT	NO
11.00	Authorize share repurchase			MGMT	NO
12.00	Reduce authorized capital			MGMT	NO
13.00	Change company name			MGMT	NO
	Amend meeting procedures/change date
	Amend board election rules
14.00	NV -- Misc non-U.S. mgt. non-voting			MGMT	NO
TUI AG			7159477	5/11/05	Annual
1.00	Receive financial statements			MGMT	NO
2.00	Set Final Dividend at 0.77			MGMT	NO
3.00	Ratify management acts-symbolic			MGMT	NO
4.00	Ratify board acts-symbolic			MGMT	NO
5.00	Appoint outside auditors			MGMT	NO
6.00	Convert one form of stock to another			MGMT	NO
7.00	Authorize share repurchase			MGMT	NO
Tyco International Ltd		TYC	902124106	3/10/05	Annual
1.01	Elect Dennis C. Blair			MGMT	YES	WHOLD	AGNST
1.02	Elect Edward D. Breen			MGMT	YES	WHOLD	AGNST
1.03	Elect George W. Buckley			MGMT	YES	WHOLD	AGNST
1.04	Elect Brian Duperreault			MGMT	YES	WHOLD	AGNST
1.05	Elect Bruce S. Gordon			MGMT	YES	WHOLD	AGNST
1.06	Elect Rajiv L. Gupta			MGMT	YES	WHOLD	AGNST
1.07	Elect John A. Krol			MGMT	YES	WHOLD	AGNST
1.08	Elect Mackey J. McDonald			MGMT	YES	WHOLD	AGNST
1.09	Elect H. Carl McCall			MGMT	YES	WHOLD	AGNST
1.10	Elect Brendan R. O'Neill			MGMT	YES	WHOLD	AGNST
1.11	Elect Sandra S. Wijnberg			MGMT	YES	WHOLD	AGNST
1.12	Elect Jerome B. York			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	AGNST	AGNST
U S Bancorp		USB	902973304	4/19/05	Annual
1.01	Elect Joel W. Johnson			MGMT	YES	FOR	FOR
1.02	Elect David B. O'Maley			MGMT	YES	FOR	FOR
1.03	Elect O'Dell M. Owens			MGMT	YES	FOR	FOR
1.04	Elect Craig D. Schnuck			MGMT	YES	WHOLD	AGNST
1.05	Elect Warren R. Staley			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Elim. supermajority requirement for business trans			MGMT	YES	FOR	FOR
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
5.00	Limit non-audit fees			SHLDR	YES	AGNST	FOR
Valero Energy Corp		VLO	91913Y100	4/28/05	Annual
1.01	Elect William E. Bradford			MGMT	YES	FOR	FOR
1.02	Elect Ronald K. Calgaard			MGMT	YES	FOR	FOR
1.03	Elect William E. Greehey			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR
Veolia Environnement			F9686M107	5/2/05	Annual
1.00	Approve financial statements			MGMT	NO
2.00	Approve financial statements			MGMT	NO
3.00	Authorize legal formalities			MGMT	NO
4.00	Approve use/transfer of reserves			MGMT	NO
5.00	Set dividend/allocate profits			MGMT	NO
6.00	Approve related party transactions			MGMT	NO
7.00	Appoint outside auditors			MGMT	NO
8.00	Appoint outside auditors			MGMT	NO
9.00	Authorize trade in company stock			MGMT	NO
10.00	Authorize legal formalities			MGMT	NO
11.00	Increase authorized capital			MGMT	NO
	Issue stock w/ preemptive rights
12.00	Increase authorized capital			MGMT	NO
	Issue stock w/o preemptive rights
13.00	Increase authorized capital			MGMT	NO
14.00	Issue stock w/ or w/o preemptive rights			MGMT	NO
15.00	Issue stock w/o preemptive rights			MGMT	NO
16.00	Approve stock option grant			MGMT	NO
17.00	Issue stock w/o preemptive rights			MGMT	NO
18.00	Reduce authorized capital			MGMT	NO
19.00	Amend articles--technical			MGMT	NO
20.00	Authorize legal formalities			MGMT	NO
VNU			4970950	11/16/04	Special
1.00	Approve Divestiture/Spin-off			MGMT	NO
2.00	Amend Meeting Procedures/Change Date			MGMT	NO
	Increase Authorized Capital
	Amend Board Powers/Procedures/Qualifications
	Amend Board Election Rules
3.00	Approve Executive Profit Sharing/Bonus Plan			MGMT	NO
Vodafone Group PLC			0719210	7/27/04	Annual
1.00	Approve Financial Statements			MGMT	YES	FOR	FOR
2.00	Approve Remuneration Policy			MGMT	YES	FOR	FOR
3.00	Elect Peter Bamford			MGMT	YES	FOR	FOR
4.00	Elect Julian Horn-Smith			MGMT	YES	FOR	FOR
5.00	Elect Sir David G. Scholey			MGMT	YES	FOR	FOR
6.00	Elect Luc Vandevelde			MGMT	YES	FOR	FOR
7.00	Set Final Dividend at 1.08p			MGMT	YES	FOR	FOR
8.00	Appoint Outside Auditors			MGMT	YES	FOR	FOR
9.00	Set Auditors' Fees			MGMT	YES	FOR	FOR
10.00	Approve Political Donation			MGMT	YES	FOR	FOR
11.00	Issue Stock w/ Preemptive Rights			MGMT	YES	FOR	FOR
12.00	Issue Stock w/o Preemptive Rights			MGMT	YES	FOR	FOR
13.00	Authorize Share Repurchase			MGMT	YES	FOR	FOR
14.00	Approve Put Option Contracts			MGMT	YES	FOR	FOR
Xerox Corp		XRX	984121103	5/19/05	Annual
1.01	Elect Glenn A. Britt			MGMT	YES	FOR	FOR
1.02	Elect Richard J. Harrington			MGMT	YES	FOR	FOR
1.03	Elect William Curt Hunter			MGMT	YES	FOR	FOR
1.04	Elect Vernon E. Jordan Jr.			MGMT	YES	WHOLD	AGNST
1.05	Elect Hilmar Kopper			MGMT	YES	FOR	FOR
1.06	Elect Ralph S. Larsen			MGMT	YES	FOR	FOR
1.07	Elect Robert A. McDonald			MGMT	YES	FOR	FOR
1.08	Elect Anne M. Mulcahy			MGMT	YES	FOR	FOR
1.09	Elect N. J. Nicholas Jr.			MGMT	YES	FOR	FOR
1.10	Elect Ann N. Reese			MGMT	YES	FOR	FOR
1.11	Elect Stephen Robert			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
XL Capital Ltd		XL	G98255105	4/29/05	Annual
1.01	Elect Michael P. Esposito Jr.			MGMT	YES	FOR	FOR
1.02	Elect Robert R. Glauber			MGMT	YES	FOR	FOR
1.03	Elect Cyril Rance			MGMT	YES	FOR	FOR
1.04	Elect Ellen E. Thrower			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Add shares to the 1991 Performance Incentive Plan			MGMT	YES	AGNST	AGNST
	Amend Stock Incentive Plan

Any ballot marked 'Abstain' is considered to have been voted. Ballots marked 'Abstain' are considered to be have been voted against management's recommendation, regardless of whether the recommendation is 'For' or 'Against,' except where management has made no recommendation or has recommended that shareholders 'Abstain.'

Where management has recommended that shareholders 'Abstain' from voting on a ballot item: 1) a ballot market 'Abstain' is considered to have been voted for management's recommendation to 'Abstain' and 2) a ballot voted 'For" or 'Against' is considered to have been voted against management's recommendation to 'Abstain.'

Where management has made no recommendation on a ballot item, the abbreviation "N/A" is used to denote that there is no applicable recommendation compared to which a vote may be 'For' or 'Against' the recommendation of management.




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.

Putnam Global Equity Fund
- -------------------------------------------------------------------------
       (Registrant)


By /s/ Charles E. Porter, Executive Vice President, Associate Treasurer
   and Principal Executive Officer
   _______________________________________________________________________
       (Signature & Title)


Date July 28, 2005