-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, T8Svsnbui06SiMW/Ran7cs65C9lmfQHv5GmydKDcabpaBdlc2dANOQAkmBsjFyuc dN3WaiYgX1PuCW1dcgp6+Q== 0000897101-05-001936.txt : 20050831 0000897101-05-001936.hdr.sgml : 20050831 20050831141732 ACCESSION NUMBER: 0000897101-05-001936 CONFORMED SUBMISSION TYPE: N-PX PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050630 FILED AS OF DATE: 20050831 DATE AS OF CHANGE: 20050831 EFFECTIVENESS DATE: 20050831 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIT MUTUAL FUNDS INC CENTRAL INDEX KEY: 0000877880 IRS NUMBER: 000000000 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-PX SEC ACT: 1940 Act SEC FILE NUMBER: 811-06373 FILM NUMBER: 051061311 BUSINESS ADDRESS: STREET 1: 4600 NORWEST CENTER STREET 2: 90 S SEVENTH ST CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 612-332-32 MAIL ADDRESS: STREET 1: 4600 NORWEST CTR, 90 SOUTH SEVENTH ST STREET 2: 4600 NORWEST CTR, 90 SOUTH SEVENTH ST CITY: MINNEAPOLIS STATE: MN ZIP: 55402-4130 FORMER COMPANY: FORMER CONFORMED NAME: SIT NEW BEGINNING MUTUAL FUNDS INC DATE OF NAME CHANGE: 19920929 N-PX 1 sit-ig053687_npx.txt 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 number 811-06373 -------------------------------------------------- Sit International Growth Fund, a series of Sit Mutual Funds, Inc. - -------------------------------------------------------------------------------- (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER) 3300 IDS Center, 80 S. 8th Street, Minneapolis, MN 55402 - -------------------------------------------------------------------------------- (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) Kelly K. Boston, Staff Attorney - -------------------------------------------------------------------------------- 3300 IDS Center, 80 S. 8th Street, Minneapolis, MN 55402 - -------------------------------------------------------------------------------- (NAME AND ADDRESS OF AGENT FOR SERVICE) Registrant's telephone number, including area code: 612-332-3223 ---------------------------- Date of fiscal year end: June 30, 2005 ------------------------------------------------------- Date of reporting period: July 1, 2004 - June 30, 2005 ------------------------------------------------------ PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Advanced Info Service PCL TH0268010Z11 3/30/2005 1 Open Meeting 2 Approve Minutes of Previous AGM Mgmt For For 3 Accept Directors' Report Mgmt For For Accept Financial Statements and Statutory 4 Reports Mgmt For For Approve PricewaterhouseCoopers ABAS Limited as Auditors and Authorize Board to Fix Their 5 Remuneration Mgmt For For Approve Allocation of Income and Final 6 Dividend of Baht 2.60 per Share Mgmt For For 7 Elect Directors and Fix Their Remuneration Mgmt For For Approve Issuance of 9.79 Million Units of Warrants to Directors, Employees, and 8 Advisors of the Company Mgmt For For Approve the Issuance of 9.79 Million Shares Reserved Exclusively for the Conversion of 9 Warrants Mgmt For For Approve Issuance of Warrants to Directors, Employees and Advisors Exceeding Five 10 Percent of the Total Issuance Mgmt For For Approve the Issuance of 620,000 Shares Reserved Exclusively for the Conversion of 11 the ESOP Warrants Grant 1, 2, and 3 Mgmt For For 12 Other Business Mgmt For Against - ----------------------------------------------------------------------------------------------------------------------------------- AFLAC Incorporated AFL 1055102 5/2/2005 1.1 Elect Director Daniel P. Amos Mgmt For For 1.2 Elect Director John Shelby Amos II Mgmt For For 1.3 Elect Director Michael H. Armacost Mgmt For For 1.4 Elect Director Kriss Cloninger III Mgmt For For 1.5 Elect Director Joe Frank Harris Mgmt For For 1.6 Elect Director Elizabeth J. Hudson Mgmt For For 1.7 Elect Director Kenneth S. Janke Sr. Mgmt For For 1.8 Elect Director Douglas W. Johnson Mgmt For For 1.9 Elect Director Robert B. Johnson Mgmt For For 1.1 Elect Director Charles B. Knapp Mgmt For For 1.11 Elect Director Hidefumi Matsui Mgmt For For 1.12 Elect Director E. Stephen Purdom, M.D. Mgmt For For 1.13 Elect Director Barbara K. Rimer, Ph.D. Mgmt For For 1.14 Elect Director Marvin R. Schuster Mgmt For For 1.15 Elect Director David Gary Thompson Mgmt For For 1.16 Elect Director Tohru Tonoike Mgmt For For 1.17 Elect Director Robert L. Wright Mgmt For For 2 Ratify Auditors Mgmt For For
-1- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Amdocs Limited DOX G02602103 1/20/2005 Meeting for Holders of ADRs 1.1 Elect Director Bruce K. Anderson Mgmt For For 1.2 Elect Director Adrian Gardner Mgmt For For 1.3 Elect Director Dov Baharav Mgmt For For 1.4 Elect Director Julian A. Brodsky Mgmt For For 1.5 Elect Director Charles E. Foster Mgmt For For 1.6 Elect Director Eli Gelman Mgmt For For 1.7 Elect Director James S. Kahan Mgmt For For 1.8 Elect Director Nehemia Lemelbaum Mgmt For For 1.9 Elect Director John T. Mclennan Mgmt For For 1.1 Elect Director Robert A. Minicucci Mgmt For For 1.11 Elect Director Simon Olswang Mgmt For For 1.12 Elect Director Mario Segal Mgmt For For APPROVAL OF CONSOLIDATED FINANCIAL 2 STATEMENTS FOR FISCAL YEAR 2004. Mgmt For For RATIFICATION AND APPROVAL OF ERNST & YOUNG LLP AND AUTHORIZATION OF AUDIT COMMITTEE OF 3 BOARD TO FIX REMUNERATION. Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Approve Allocation of Income, Including the Following Dividends: Interim JY 7.5, Final Asahi Breweries Ltd. JP3116000005 3/30/2005 1 JY 7.5, Special JY 0 Mgmt For For 2 Approve Executive Stock Option Plan Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonus for Statutory 5 Auditor Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- AU OPTRONICS CORP 2255107 6/14/2005 Meeting for Holders of ADR's ACCEPTANCE OF THE 2004 BUSINESS REPORT AND 1 FINANCIAL STATEMENTS Mgmt For For APPROVAL OF THE PROPOSAL FOR DISTRIBUTION OF 2 2004 PROFITS Mgmt For For
-2- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- APPROVAL OF THE CAPITALIZATION OF 2004 STOCK 3 DIVIDENDS AND EMPLOYEE STOCK BONUS Mgmt For For APPROVAL OF THE REVISIONS TO ARTICLES OF 4 INCORPORATION Mgmt For Against APPROVAL OF THE ISSUANCE OF NEW COMMON 5 SHARES FOR CASH TO SPONSOR DR OFFERING Mgmt For Against APPROVAL OF THE PROPOSAL TO OPT FOR TAX BENEFITS ON THE ISSUANCE OF NEW COMMON SHARES IN 2004 IN ACCORDANCE WITH THE STATUTE OF UPGRADING INDUSTRIES PROMULGATED 6 BY THE ROC MINISTRY OF ECONOMIC AFFAIRS Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Australia & NZ Accept Financial Statements and Statutory Banking Group Ltd AU000000ANZ3 12/17/2004 1 Reports 2a Elect J. K. Ellis as Director Mgmt For For 2b Elect M. A. Jackson as Director Mgmt For For 2c Elect G. J. Clark as Director Mgmt For For 2d Elect D. E. Meiklejohn as Director Mgmt For For 2e Elect J. P. Morschel as Director Mgmt For For Approve Grant of 175,000 Performance Shares 3 to John McFarlane, Managing Director and CEO Mgmt For Against - ----------------------------------------------------------------------------------------------------------------------------------- Axa (Formerly Axa-Uap) FR0000120628 4/20/2005 Ordinary Business Approve Financial Statements and Statutory 1 Reports Mgmt For For Accept Consolidated Financial Statements and 2 Statutory Reports Mgmt For For Approve Allocation of Income and Dividends 3 of EUR 0.61 per Share Mgmt For For Approve Accounting Transfer from Special Long-Term Capital Gains Account to Ordinary 4 Reserve Mgmt For For
-3- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Approve Special Auditors' Report Regarding 5 Related-Party Transactions Mgmt For For Confirm Resignation and Non-Reelection of 6 Thierry Breton as Supervisory Board Member Mgmt For For Reelect Anthony Hamilton as Supervisory 7 Board Member Mgmt For For Reelect Henri Lachmann as Supervisory Board 8 Member Mgmt For For Reelect Michel Pebereau as Supervisory Board 9 Member Mgmt For For Ratify Appointment of Leo Apotheker as 10 Supervisory Board Member Mgmt For For Elect Jacques de Chateauvieux as Supervisory 11 Board Member Mgmt For For Elect Dominique Reiniche as Supervisory 12 Board Member Mgmt For For Approve Remuneration of Directors in the 13 Aggregate Amount of EUR 1 Million Mgmt For For Authorize Repurchase of Up to Ten Percent of 14 Issued Share Capital Mgmt For For Special Business Authorize Capitalization of Reserves of Up to EUR 1 Billion for Bonus Issue or Increase 15 in Par Value Mgmt For For Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 16 1.5 Billion Mgmt For For Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 17 1 Billion Mgmt For For Authorize Management Board to Set Issue Price for Ten Percent of Issued Capital Pursuant to Issue Authority without 18 Preemptive Rights Mgmt For Against Authorize Board to Increase Capital in the Event of Demand Exceeding Amounts Submitted 19 to Shareholder Vote Above Mgmt For For Authorize Capital Increase of Up to EUR 1 20 Billion for Future Exchange Offers Mgmt For For
-4- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Authorize Capital Increase of Up to Ten Percent of Issued Capital for Future 21 Exchange Offers Mgmt For For Authorize Issuance of Equity Upon Conversion 22 of a Subsidiary's Equity-Linked Securities Mgmt For For Approve Issuance of Securities Convertible 23 into Debt Mgmt For For Approve Capital Increase Reserved for Employees Participating in Savings-Related 24 Share Purchase Plan Mgmt For For Authorize Up to 0.5 Percent of Issued 25 Capital for Use in Restricted Stock Plan Mgmt For Against 26 Approve Stock Option Plan Grants Mgmt For Against Approve Reduction in Share Capital via 27 Cancellation of Repurchased Shares Mgmt For For Amend Articles of Association Re: Definition 28 of Related-Party Transactions Mgmt For Against Amend Articles Re: Stock Option and 29 Restricted Stock Plans Mgmt For For Authorize Filing of Required Documents/Other 30 Formalities Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Accept Financial Statements and Statutory Barclays Plc GB0031348658 4/28/2005 1 Reports Mgmt For For 2 Approve Remuneration Report Mgmt For For 3 Re-elect Sir Andrew Likierman as Director Mgmt For For 4 Re-elect Richard Clifford as Director Mgmt For For 5 Re-elect Matthew Barrett as Director Mgmt For For 6 Re-elect John Varley as Director Mgmt For For 7 Re-elect David Arculus as Director Mgmt For For 8 Re-elect Sir Nigel Rudd as Director Mgmt For For Reappoint PricewaterhouseCoopers LLP as 9 Auditors of the Company Mgmt For For Authorise Board to Fix Remuneration of the 10 Auditors Mgmt For For 11 Approve Barclays PLC Performance Share Plan Mgmt For For
-5- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Authorise the Directors to Establish Supplements or Appendices to the Performance 12 Share Plan Mgmt For For Authorise Issue of Equity or Equity-Linked Securities with Pre-emptive Rights up to 13 Aggregate Nominal Amount of GBP 538,163,237 Mgmt For For Authorise Issue of Equity or Equity-Linked Securities without Pre-emptive Rights up to 14 Aggregate Nominal Amount of GBP 80,724,485 Mgmt For For Authorise 968,600,000 Ordinary Shares for 15 Market Purchase Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Accept Financial Statements and Statutory BHP Billiton Limited AU000000BHP4 10/22/2004 1 Reports Mgmt For For Accept Financial Statements and Statutory 2 Reports Mgmt For For Elect D.R. Argus as Director of BHP Billiton 3 Ltd. Mgmt For For Elect D.R. Argus as Director of BHP Billiton 4 PLc. Mgmt For For Elect D.A. Crawford as Director of BHP 5 Billiton Ltd. Mgmt For For Elect D.A. Crawford as Director of BHP 6 Billiton PLc. Mgmt For For Elect C.W. Goodyear as Director of BHP 7 Billiton Ltd. Mgmt For For Elect C.W. Goodyear as Director of BHP 8 Billiton PLc. Mgmt For For Elect J.M. Schubert as Director of BHP 9 Billiton Ltd. Mgmt For For Elect J.M. Schubert as Director of BHP 10 Billiton PLc. Mgmt For For Approve KPMG Audit Plc as Auditors of BHP Billiton PLc. and Authorize Board to Fix 11 Their Remuneration Mgmt For For Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of USD 12 265,926,499 Mgmt For For Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of USD 13 61,703,675 Mgmt For For Authorise 246,814,700 BHP Billiton Plc 14 Ordinary Shares for Market Purchase Mgmt For For
-6- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Approve Remuneration Report For the Year 15 Ended June 30, 2003 Mgmt For For Amend BHP Billiton Ltd. and BHP Billiton Plc 16 Group Incentive Scheme Mgmt For For Approve BHP Billiton Ltd. and BHP Billiton 17 Plc Long Term Incentive Plan Mgmt For For Approve Grant of Deferred Shares and Options under the Amended BHP Billiton Ltd. Group Incentive Scheme and Grant of Performance Shares under the BHP Billiton Ltd. Long Term 18 Incentive Plan to Charles Goodyear Mgmt For For Approve Grant of Deferred Shares and Options under the Amended BHP Billiton Plc Group Incentive Scheme and Grant of Performance Shares under the BHP Billiton Plc Long Term 19 Incentive Plan to Mike Salamon Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- BP Plc 55622104 4/14/2005 Meeting for Holders of ADR's 1.1 Elect Director Dr D C Allen Mgmt For For 1.2 Elect Director Lord Browne Mgmt For For 1.3 Elect Director Mr J H Bryan Mgmt For For 1.4 Elect Director Mr A Burgmans Mgmt For For 1.5 Elect Director Mr I C Conn Mgmt For For 1.6 Elect Director Mr E B Davis, Jr Mgmt For For 1.7 Elect Director Mr D J Flint Mgmt For For 1.8 Elect Director Dr B E Grote Mgmt For For 1.9 Elect Director Dr A B Hayward Mgmt For For 1.1 Elect Director Dr D S Julius Mgmt For For 1.11 Elect Director Sir Tom Mckillop Mgmt For For 1.12 Elect Director Mr J A Manzoni Mgmt For For 1.13 Elect Director Dr W E Massey Mgmt For For 1.14 Elect Director Mr H M P Miles Mgmt For For 1.15 Elect Director Sir Ian Prosser Mgmt For For 1.16 Elect Director Mr M H Wilson Mgmt For For 1.17 Elect Director Mr P D Sutherland Mgmt For For 2 Ratify Auditors Mgmt For For TO GIVE AUTHORITY TO ALLOT SHARES UP TO A 3 SPECIFIED AMOUNT Mgmt For For
-7- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- SPECIAL RESOLUTION: TO GIVE AUTHORITY TO ALLOT A LIMITED NUMBER OF SHARES FOR CASH 4 WITHOUT MAKING AN OFFER TO SHAREHOLDERS Mgmt For For SPECIAL RESOLUTION: TO GIVE LIMITED AUTHORITY FOR THE PURCHASE OF ITS OWN SHARES 5 BY THE COMPANY Mgmt For For 6 TO APPROVE THE DIRECTORS REMUNERATION REPORT Mgmt For For TO APPROVE THE RENEWAL OF EXECUTIVE 7 DIRECTORS INCENTIVE PLAN Mgmt For For TO RECEIVE THE DIRECTORS ANNUAL REPORT AND 8 THE ACCOUNTS Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Accept Financial Statements and Statutory BURBERRY GROUP PLC GB0031743007 7/20/2004 1 Reports Mgmt For For 2 Approve Remuneration Report Mgmt For Against Approve Final Dividend of 3 Pence Per 3 Ordinary Share Mgmt For For 4 Elect Stacey Cartwright as Director Mgmt For For 5 Re-elect John Peace as Director Mgmt For Against 6 Re-elect Guy Peyrelongue as Director Mgmt For For Re-appoint PricewaterhouseCoopers LLP as 7 Auditors of the Company Mgmt For For Authorise Board to Fix Remuneration of the 8 Auditors Mgmt For For Authorise the Company to Make EU Political Donations and Incur EU Political Expenditure 9 up to Aggregate Nominal Amount of GBP 25,000 Mgmt For For Authorise Burberry Limited to Make EU Political Donations and Incur EU Political Expenditure up to Aggregate Nominal Amount 10 of GBP 25,000 Mgmt For For Authorise 50,069,116 Ordinary Shares for 11 Market Purchase Mgmt For For
-8- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 12 83,448 Mgmt For For Renew the Authority Conferred on Directors to Allot Shares for Cash in Connection with a Rights Issue without Offering Those Shares 13 Pro Rata to Existing Shareholders Mgmt For For Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights Otherwise than in Connection with a Rights Issue up to Aggregate Nominal Amount 14 of GBP 12,517 Mgmt For For Approve the Burberry Senior Executive 15 Restricted Share Plan 2004 Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Authorise the Company to Repurchase up to 50,069,116 Shares from Gus PLC in BURBERRY GROUP PLC GB0031743007 12/20/2004 1 Conjunction with On-Market Repurchases Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Business Objects S.A. 12328X107 6/14/2005 Meeting for Holders of ADRs APPROVAL OF THE STATUTORY FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED 1 DECEMBER 31, 2004. Mgmt For For APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED 2 DECEMBER 31, 2004. Mgmt For For ALLOCATION OF EARNINGS FOR THE FISCAL YEAR 3 ENDED DECEMBER 31, 2004. Mgmt For For RENEWAL OF THE TERM OF OFFICE OF MR. GERALD 4 HELD AS DIRECTOR. Mgmt For For RATIFICATION OF THE APPOINTMENT OF MR. CARL 5 PASCARELLA AS DIRECTOR. Mgmt For For 6 Ratify Auditors Mgmt For For
-9- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- 7 RATIFICATION OF REGULATED AGREEMENTS. Mgmt For For INCREASE OF THE AGGREGATE AMOUNT OF 8 AUTHORIZED DIRECTORS FEES. Mgmt For For AUTHORIZATION GRANTED TO THE BOARD OF DIRECTORS TO REPURCHASE ORDINARY SHARES OF 9 THE COMPANY. Mgmt For For TO REDUCE THE SHARE CAPITAL BY CANCELLATION 10 OF TREASURY SHARES. Mgmt For For TO ISSUE WARRANTS TO SUBSCRIBE UP TO A MAXIMUM OF 45,000 ORDINARY SHARES RESERVED 11 FOR MR. GERALD HELD. Mgmt For Against TO ISSUE WARRANTS TO SUSBCRIBE UP TO A MAXIMUM OF 45,000 ORDINARY SHARES RESERVED 12 FOR MR. CARL PASCARELLA. Mgmt For Against TO INCREASE THE SHARE CAPITAL THROUGH THE ISSUANCE OF ORDINARY SHARES, WITH SUBSCRIPTION RESERVED TO THE PARTICIPANTS IN 13 THE COMPANY EMPLOYEE SAVINGS PLAN. Mgmt For For TO INCREASE THE SHARE CAPITAL TRHOUGH THE ISSUANCE OF ORDINARY SHARES, WITH SUBSCRIPTION RESERVED TO THE 2004 BUSINESS OBJECTS S.A. EMPLOYEE BENEFITS TRUST UNDER THE 2004 INTERNATIONAL EMPLOYEE STOCK 14 PURCHASE PLAN. Mgmt For For TO ALLOCATE, FREE OF CHARGE, EXISTING ORDINARY SHARES, OR TO ISSUE NEW ORDINARY SHARES, FREE OF CHARGE, TO THE EMPLOYEES AND CERTAIN OFFICERS OF THE COMPANY AND TO THE 15 EMPLOYEES OF THE COMPANY S SUBSIDIARIES. Mgmt For Against THE AMENDMENT OF THE ARTICLE 7.2 OF THE 16 COMPANY S ARTICLES OF ASSOCIATION. Mgmt For Against AMENDMENTS OF THE COMPANY S ARTICLES OF ASSOCIATION TO CONFORM THEM TO THE NEW 17 PROVISIONS OF THE FRENCH COMMERCIAL CODE. Mgmt For For
-10- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- THE REMOVAL OF THE FIFTEENTH, SEVENTEENTH AND TWENTY-FOURTH PARAGRAPHS OF THE ARTICLE 18 6 OF THE COMPANY S ARTICLES OF ASSOCIATION. Mgmt For For TO GRANT FULL POWERS OF ATTORNEY TO CARRY 19 OUT REGISTRATIONS AND FORMALITIES. Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Accept Financial Statements and Statutory Cairn Energy PLC GB0032399312 6/3/2005 1 Reports Mgmt For For 2 Approve Remuneration Report Mgmt For For Reappoint Ernst & Young LLP as Auditors and Authorise the Board to Determine Their 3 Remuneration Mgmt For For 4 Elect Andrew Shilston as Director Mgmt For For 5 Re-elect Norman Murray as Director Mgmt For For 6 Re-elect Hamish Grossart as Director Mgmt For For 7 Re-elect Ed Story as Director Mgmt For For 8 Re-elect Bill Gammell as Director Mgmt For For Authorise Issue of Equity or Equity-Linked Securities with Pre-emptive Rights up to 9 Aggregate Nominal Amount of GBP 5,309,878.80 Mgmt For For Approve Cancellation of 49,999 Non-voting 10.a Redeemable Preference Shares Mgmt For For 10.b Adopt New Articles of Association Mgmt For For Authorise Issue of Equity or Equity-Linked Securities without Pre-emptive Rights up to 11 Aggregate Nominal Amount of GBP 796,481.80 Mgmt For For Authorise 14.99 Percent of the Ordinary 12 Share Capital for Market Purchase Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Approve Allocation of Income, Including the Following Dividends: Interim JY 25, Final JY Canon Inc. JP3242800005 3/30/2005 1 40, Special JY 0 Mgmt For For 2 Amend Articles to: Expand Business Lines Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For
-11- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 3.16 Elect Director Mgmt For For 3.17 Elect Director Mgmt For For 3.18 Elect Director Mgmt For For 3.19 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.21 Elect Director Mgmt For For 3.22 Elect Director Mgmt For For 3.23 Elect Director Mgmt For For 3.24 Elect Director Mgmt For For 3.25 Elect Director Mgmt For For 4 Approve Retirement Bonuses for Directors Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Cognos Inc. CSN. 19244C109 6/23/2005 1.1 Elect Director Robert G. Ashe Mgmt For For 1.2 Elect Director John E. Caldwell Mgmt For For 1.3 Elect Director Paul D. Damp Mgmt For For 1.4 Elect Director Pierre Y. Ducros Mgmt For For 1.5 Elect Director Robert W. Korthals Mgmt For For 1.6 Elect Director John J. Rando Mgmt For For 1.7 Elect Director Bill V. Russell Mgmt For For 1.8 Elect Director James M. Tory Mgmt For For 1.9 Elect Director Renato Zambonini Mgmt For For 2 Approve Ernst & Young LLP as Auditors Mgmt For For 3 Amend 2003 Stock Option Plan Mgmt For For 4 Amend Restricted Share Unit Plan Mgmt For For 5 Amend Employee Stock Purchase Plan Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Elect Mel F. Belich, Irvine J. Koop, John W. Compton Petroleum Preston, Jeffrey T. Smith, Ernie G. Sapieha, Corporation CMT. CA2049401003 5/10/2005 1 and John A. Thomson as Directors Mgmt For For Approve Grant Thornton LLP as Auditors and Authorize Board to Fix Remuneration of 2 Auditors Mgmt For For 3 Approve Stock Option Plan Mgmt For Against - -----------------------------------------------------------------------------------------------------------------------------------
-12- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Credit Suisse Group (Formerly Cs Holding) CH0012138530 4/29/2005 1 Share Re-registration Consent Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Credit Suisse Group Accept Financial Statements and Statutory (Formerly Cs Holding) CH0012138530 4/29/2005 1 Reports Mgmt For For Approve Discharge of Board and Senior 2 Management Mgmt For For Approve Allocation of Income and Dividends 3 of CHF 1.50 per Share Mgmt For For Authorize Repurchase of up to Ten Percent of 4 Issued Share Capital Mgmt For For Reelect Peter Brabeck-Letmathe, Thomas Bechtler, Robert Benmosche and Ernst Tanner as Directors; Elect Jean Lanier and Anton 5.1 van Rossum as Directors Mgmt For For Ratify KPMG Klynveld Peat Marwick Goerdeler 5.2 SA as Auditors Mgmt For For 5.3 Ratify BDO Visura as Special Auditors Mgmt For For Extend Authorization Term for Creation of 6 CHF 22.7 Million Conditional Capital Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- DBS Group Holdings Ltd.(Formerly Adopt Financial Statements and Directors' Development Bank and Auditors' Reports for the Year Ended of Singap) SG1L01001701 4/29/2005 1 December 31, 2004 Mgmt For For Declare Final Dividend of SGD 0.22 Per 2a Ordinary Share Mgmt For For Declare Final Dividend of SGD 0.12 Per 2b Non-Voting Convertible Preference Share Mgmt For For
-13- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Declare Final Dividend of SGD 0.12 Per Non-Voting Redeemable Convertible Preference 2c Share Mgmt For For Approve Directors' Fees of SGD 976,689 for 3 2004 (2003: SGD 647,851) Mgmt For For Appoint Ernst & Young as Auditors and 4 Authorize Board to Fix Their Remuneration Mgmt For For 5a1 Reelect Jackson Tai as Director Mgmt For For 5a2 Reelect CY Leung as Director Mgmt For For 5a3 Reelect Peter Ong as Director Mgmt For For 5a4 Reelect John Ross as Director Mgmt For For 5b1 Reelect Ang Kong Hua as Director Mgmt For For 5b2 Reelect Goh Geok Ling as Director Mgmt For For 5b3 Reelect Wong Ngit Liong as Director Mgmt For For Approve Issuance of Shares and Grant of Options Pursuant to the DBSH Share Option 6a Plan Mgmt For Against Approve Issuance of Shares and Grant of Options Pursuant to the DBSH Performance 6b Share Plan Mgmt For Against Approve Issuance of Shares without 6c Preemptive Rights Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- DBS Group Holdings Ltd. (Formerly Development Bank of Singap) SG1L01001701 4/29/2005 1 Authorize Share Repurchase Program Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Deutsche Telekom AG 251566105 4/26/2005 Meeting for Holders of ADR's APPROVAL OF THE RESOLUTION ON THE 1 APPROPRIATION OF NET INCOME. Mgmt For For APPROVAL OF ACTIONS BY THE BOARD OF 2 MANAGEMENT FOR THE FINANCIAL YEAR 2004. Mgmt For For
-14- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- APPROVAL OF ACTIONS BY THE SUPERVISORY BOARD 3 FOR THE FINANCIAL YEAR 2004. Mgmt For For 4 Ratify Auditors Mgmt For For APPROVAL OF THE RESOLUTION AUTHORIZING THE 5 COMPANY TO PURCHASE AND USE ITS OWN SHARES. Mgmt For For APPROVAL OF THE RESOLUTION ON THE ELECTION OF STATE SECRETARY VOLKER HALSCH AS MEMBER 6 OF THE SUPERVISORY BOARD. Mgmt For For APPROVAL OF THE RESOLUTION ON THE ELECTION OF DR. WOLFGANG REITZLE AS MEMBER OF THE 7 SUPERVISORY BOARD. Mgmt For For APPROVAL OF THE RESOLUTION ON THE AUTHORIZATION TO ISSUE CONVERTIBLE BONDS 8 AND/OR BONDS WITH WARRANTS. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL 9 AGREEMENT WITH MAGYARCOM HOLDING GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL 10 AGREEMENT WITH DETEFLEET SERVICES GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL 11 AGREEMENT WITH DFMG HOLDING GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON CONTROL AGREEMENT WITH DE TELMMOBILIEN, DEUTSCHE 12 TELEKOM IMMOBILIEN UND SERVICE GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON CONTROL AGREEMENT WITH DE TE ASSEKURANZ - DEUTSCHE TELEKOM ASSEKURANZVERMITTLUNGSGESELLSCHAFT 13 MBH. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL AGREEMENT WITH T-PUNKT VERTRIEBSGESELLSCHAFT 14 MBH. Mgmt For For
-15- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- APPROVAL OF THE RESOLUTION ON THE CONTROL AGREEMENT WITH DEUTSCHE TELEKOM TRAINING 15 GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL 16 AGREEMENT WITH T-SYSTEMS INTERNATIONAL GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL AGREEMENT WITH DETEMEDIEN DEUTSCHE TELEKOM 17 MEDIEN GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL AGREEMENT WITH CARMEN 18 TELEKOMMUNIKATIONSDIENSTE GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL AGREEMENT WITH NORMA 19 TELEKOMMUNIKATIONSDIANSTE GMBH. Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Deutsche Telekom AG 251566105 4/26/2005 Meeting for Holders of ADR's APPROVAL OF THE RESOLUTION ON THE 1 APPROPRIATION OF NET INCOME. Mgmt For For APPROVAL OF ACTIONS BY THE BOARD OF 2 MANAGEMENT FOR THE FINANCIAL YEAR 2004. Mgmt For For APPROVAL OF ACTIONS BY THE SUPERVISORY BOARD 3 FOR THE FINANCIAL YEAR 2004. Mgmt For For 4 Ratify Auditors Mgmt For For APPROVAL OF THE RESOLUTION AUTHORIZING THE 5 COMPANY TO PURCHASE AND USE ITS OWN SHARES. Mgmt For For APPROVAL OF THE RESOLUTION ON THE ELECTION OF STATE SECRETARY VOLKER HALSCH AS MEMBER 6 OF THE SUPERVISORY BOARD. Mgmt For For
-16- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- APPROVAL OF THE RESOLUTION ON THE ELECTION OF DR. WOLFGANG REITZLE AS MEMBER OF THE 7 SUPERVISORY BOARD. Mgmt For For APPROVAL OF THE RESOLUTION ON THE AUTHORIZATION TO ISSUE CONVERTIBLE BONDS 8 AND/OR BONDS WITH WARRANTS. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL 9 AGREEMENT WITH MAGYARCOM HOLDING GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL 10 AGREEMENT WITH DETEFLEET SERVICES GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL 11 AGREEMENT WITH DFMG HOLDING GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON CONTROL AGREEMENT WITH DE TELMMOBILIEN, DEUTSCHE 12 TELEKOM IMMOBILIEN UND SERVICE GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON CONTROL AGREEMENT WITH DE TE ASSEKURANZ - DEUTSCHE TELEKOM ASSEKURANZVERMITTLUNGSGESELLSCHAFT 13 MBH. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL AGREEMENT WITH T-PUNKT VERTRIEBSGESELLSCHAFT 14 MBH. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL AGREEMENT WITH DEUTSCHE TELEKOM TRAINING 15 GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL 16 AGREEMENT WITH T-SYSTEMS INTERNATIONAL GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL AGREEMENT WITH DETEMEDIEN DEUTSCHE TELEKOM 17 MEDIEN GMBH. Mgmt For For
-17- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- APPROVAL OF THE RESOLUTION ON THE CONTROL AGREEMENT WITH CARMEN 18 TELEKOMMUNIKATIONSDIENSTE GMBH. Mgmt For For APPROVAL OF THE RESOLUTION ON THE CONTROL AGREEMENT WITH NORMA 19 TELEKOMMUNIKATIONSDIANSTE GMBH. Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Accept Financial Statements and Statutory Diageo Plc GB0002374006 10/20/2004 1 Reports Mgmt For For 2 Approve Remuneration Report Mgmt For For Approve Final Dividend of 17 Pence Per 3 Ordinary Share Mgmt For For Re-elect Lord Hollick of Notting Hill as 4 Director Mgmt For For 5 Re-elect Nick Rose as Director Mgmt For For 6 Re-elect Paul Walker as Director Mgmt For For 7 Elect Todd Stitzer as Director Mgmt For For 8 Elect Jon Symonds as Director Mgmt For For Reappoint KPMG Audit Plc as Auditors and Authorise Board to Fix Remuneration of 9 Auditors Mgmt For For Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 10 44,234,986 Mgmt For For Amend Articles of Association Re: Treasury 11 Shares Mgmt For For Authorise 305,752,223 Shares for Market 12 Purchase Mgmt For For 13 Amend Diageo Long Term Incentive Plan Mgmt For For 14 Amend Diageo Executive Share Option Plan Mgmt For For 15 Amend Discretionary Incentive Plan Mgmt For For 16 Amend Diageo 2001 Share Incentive Plan Mgmt For For 17 Amend Diageo UK Sharesave Scheme 2000 Mgmt For For 18 Amend Diageo 1999 Irish Sharesave Scheme Mgmt For For 19 Amend Diageo Long Term Incentive Plan Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Approve Allocation of Income, Including the Following Dividends: Interim JY 3000, Final East Japan Railway Co JP3783600004 6/23/2005 1 JY 3500, Special JY 0 Mgmt For For 2.1 Elect Director Mgmt For For 2.2 Elect Director Mgmt For For 2.3 Elect Director Mgmt For For 3.1 Appoint Internal Statutory Auditor Mgmt For For 3.2 Appoint Internal Statutory Auditor Mgmt For Against
-18- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Elan Corporation Plc 284131208 5/26/2005 Meeting for Holders of ADRs TO RECEIVE AND CONSIDER THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2004 TOGETHER WITH THE REPORTS OF THE 1 DIRECTORS AND AUDITORS THEREON. Mgmt For For TO RE-ELECT DR. ALAN GILLESPIE WHO RETIRES FROM THE BOARD BY ROTATION AS A DIRECTOR OF 2 THE COMPANY. Mgmt For For TO RE-ELECT MS. ANN MAYNARD GRAY WHO RETIRES FROM THE BOARD BY ROTATION AS A DIRECTOR OF 3 THE COMPANY. Mgmt For For TO RE-ELECT MR. KIERAN MCGOWAN WHO RETIRES FROM THE BOARD BY ROTATION AS A DIRECTOR OF 4 THE COMPANY. Mgmt For For TO AUTHORISE THE DIRECTORS TO FIX THE 5 REMUNERATION OF THE AUDITORS. Mgmt For For TO AUTHORISE THE DIRECTORS TO ISSUE 6 SECURITIES. Mgmt For For TO AUTHORISE THE DISAPPLICATION OF PRE-EMPTION RIGHTS ON THE ALLOTMENT OF UP TO 7 40 MILLION SHARES FOR CASH. Mgmt For For TO AUTHORISE THE COMPANY TO MAKE MARKET 8 PURCHASES OF OWN SHARES. Mgmt For For TO SET THE RE-ISSUE PRICE RANGE FOR TREASURY 9 SHARES. Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-19- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- ENCANA CORP[formerly PANCANADIAN ENERGY CORP ECA. CA2925051047 4/27/2005 1.1 Elect Director Michael N. Chernoff Mgmt For For 1.2 Elect Director Ralph S. Cunningham Mgmt For For 1.3 Elect Director Patrick D. Daniel Mgmt For For 1.4 Elect Director Ian W. Delaney Mgmt For For 1.5 Elect Director William R. Fatt Mgmt For For 1.6 Elect Director Michael A. Grandin Mgmt For For 1.7 Elect Director Barry W. Harrison Mgmt For For 1.8 Elect Director Dale A. Lucas Mgmt For For 1.9 Elect Director Ken F. McCready Mgmt For For 1.1 Elect Director Gwyn Morgan Mgmt For For 1.11 Elect Director Valerie A.A. Nielsen Mgmt For For 1.12 Elect Director David P. O'Brien Mgmt For For 1.13 Elect Director Jane L. Peverett Mgmt For For 1.14 Elect Director Dennis A. Sharp Mgmt For For 1.15 Elect Director James M. Stanford Mgmt For For Approve Auditors and Authorize Board to Fix 2 Remuneration of Auditors Mgmt For For 3 Amend Employee Stock Option Plan Mgmt For For 4 Approve 2:1 Stock Split Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Flextronics International Ltd. FLEX Y2573F102 9/23/2004 Meeting for Holders of ADRs 1.1 Elect Director Michael E. Marks Mgmt For For 1.2 Elect Director Michael J. Moritz Mgmt For For RE-APPOINTMENT OF PATRICK FOLEY AS A 2 DIRECTOR OF THE COMPANY. Mgmt For For 3 Ratify Auditors Mgmt For For TO APPROVE AN AMENDMENT TO THE COMPANY S 4 1997 EMPLOYEE SHARE PURCHASE PLAN. Mgmt For For TO APPROVE AMENDMENTS TO THE COMPANY S 2001 5 EQUITY INCENTIVE PLAN. Mgmt For For
-20- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- TO APPROVE AN AMENDMENT TO THE COMPANY S 2001 EQUITY INCENTIVE PLAN TO ALLOW FOR 6 ISSUANCES OF STOCK BONUSES. Mgmt For For TO APPROVE THE CONSOLIDATION OF ORDINARY SHARES AVAILABLE UNDER OUR ASSUMED PLANS 7 INTO OUR 2001 EQUITY INCENTIVE PLAN. Mgmt For For TO APPROVE THE AUTHORIZATION FOR THE DIRECTORS OF THE COMPANY TO ALLOT AND ISSUE 8 ORDINARY SHARES. Mgmt For For TO APPROVE THE AUTHORIZATION FOR THE COMPANY TO PROVIDE $37,200 OF ANNUAL CASH COMPENSATION TO EACH OF ITS NON-EMPLOYEE 9 DIRECTORS. Mgmt For For TO APPROVE THE AUTHORIZATION FOR THE COMPANY TO PROVIDE AN ADDITIONAL $10,000 OF ANNUAL CASH COMPENSATION FOR EACH OF ITS NON-EMPLOYEE DIRECTORS FOR COMMITTEE 10 PARTICIPATION. Mgmt For For TO APPROVE THE AUTHORIZATION OF THE PROPOSED RENEWAL OF THE SHARE REPURCHASE MANDATE RELATING TO ACQUISITIONS BY THE COMPANY OF 11 ITS OWN ISSUED ORDINARY SHARES. Mgmt For For TO APPROVE THE AUTHORIZATION OF THE PROPOSAL 12 APPROVAL OF A BONUS ISSUE. Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Four Seasons Hotels Inc. FSH.SV 35100E104 5/18/2005 Agenda for Holders of Limited Voting Shares Elect Nan-b de Gaspe Beaubien and J.Robert 1.1 S. Prichard as Directors Mgmt For For Elect William D. Anderson, Brent Belzberg, H. Roger Garland, Charles S. Henry, Heather Munroe-Blum, Ronald W. Osborne, Lionel H. Schipper, Isadore Sharp, Anthony Sharp, and 1.2 Simon M. Turner as Directors Mgmt For For Approve KPMG LLP as Auditors and Authorize 2 Board to Fix Remuneration of Auditors Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-21- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- GlaxoSmithKline PLC (formerly Glaxo Wellcome Plc ) 37733W105 5/25/2005 Meeting for Holders of ADR's 1 DIRECTORS REPORT AND FINANCIAL STATEMENTS Mgmt For For 2 REMUNERATION REPORT Mgmt For For 3 TO ELECT SIR CHRISTOPHER GENT AS A DIRECTOR Mgmt For For 4 TO ELECT SIR DERYCK MAUGHAN AS A DIRECTOR Mgmt For For 5 TO ELECT MR JULIAN HESLOP AS A DIRECTOR Mgmt For For TO RE-ELECT DR JEAN-PIERRE GARNIER AS A 6 DIRECTOR Mgmt For For 7 TO RE-ELECT SIR IAN PROSSER AS A DIRECTOR Mgmt For For 8 TO RE-ELECT DR RONALDO SCHMITZ AS A DIRECTOR Mgmt For For 9 TO RE-ELECT DR LUCY SHAPIRO AS A DIRECTOR Mgmt For For 10 Ratify Auditors Mgmt For For 11 REMUNERATION OF AUDITORS Mgmt For For TO AUTHORISE THE COMPANY TO MAKE DONATIONS TO EU POLITICAL ORGANISATIONS AND INCUR EU 12 POLITICAL EXPENDITURE Mgmt For For 13 DISAPPLICATION OF PRE-EMPTION RIGHTS Mgmt For For AUTHORITY FOR THE COMPANY TO PURCHASE ITS 14 OWN SHARES Mgmt For For INSERTION OF NEW ARTICLE 48A INTO ARTICLES 15 OF ASSOCIATION Mgmt For For DELETION OF ARTICLE 154.2 OF ARTICLES OF 16 ASSOCIATION Mgmt For For AMENDMENT OF ARTICLE 81 OF ARTICLES OF 17 ASSOCIATION Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-22- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- GREAT CANADIAN GAMING CORP GCD CA3899141020 6/15/2005 1 Fix Number of Directors at Eight Mgmt For For 2.1 Elect Director Ross J. McLeod Mgmt For For 2.2 Elect Director Adrian R. Thomas Mgmt For For 2.3 Elect Director E.H. Hintz Mgmt For For 2.4 Elect Director Earnest C. Beaudin Mgmt For For 2.5 Elect Director R. Ronald Sheppard Mgmt For For 2.6 Elect Director Peter G. Meredith Mgmt For For 2.7 Elect Director Gregory J. D. McKinstry Mgmt For For 2.8 Elect Director Bryan J. McKnight Mgmt For For Approve Deloitte & Touche LLP as Auditors and Authorize Board to Fix Remuneration of 3 Auditors Mgmt For Abstain 4 Amend Stock Option Plan Mgmt For For 5 Other Business (Voting) Mgmt For Against - ----------------------------------------------------------------------------------------------------------------------------------- Groupe Danone FR0000120644 4/22/2005 Ordinary Business Approve Financial Statements and Statutory 1 Reports Mgmt For For Accept Consolidated Financial Statements and 2 Statutory Reports Mgmt For For Approve Allocation of Income and Dividends 3 of EUR 1.35 per Share Mgmt For For Approve Special Auditors' Report Regarding 4 Related-Party Transactions Mgmt For For 5 Reelect Bruno Bonnell as Director Mgmt For For 6 Reelect Michel David-Weill as Director Mgmt For For 7 Reelect Jacques Nahmias as Director Mgmt For For 8 Reelect Jacques Vincent as Director Mgmt For For 9 Reelect Hirokatsu Hirano as Director Mgmt For For 10 Reelect Jean Laurent as Director Mgmt For For 11 Elect Bernard Hours as Director Mgmt For For Authorize Repurchase of Up to Ten Percent of 12 Issued Share Capital Mgmt For For
-23- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Authorize Issuance of Bonds/Debentures in 13 the Aggregate Value of EUR 2 Billion Mgmt For For Special Business Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 14 45 Million Mgmt For For Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 15 33 Million Mgmt For For Authorize Board to Increase Capital in the Event of Demand Exceeding Amounts Proposed 16 in Items 14 and 15 Mgmt For For Authorize Capital Increase of Up to EUR 33 17 Million for Future Exchange Offers Mgmt For For Authorize Capital Increase of Up to Ten Percent of Issued Capital for Future 18 Exchange Offers Mgmt For For Authorize Issuance of Securities Convertible 19 Into Debt Mgmt For For Authorize Capitalization of Reserves of Up to EUR 33 Million for Bonus Issue or 20 Increase in Par Value Mgmt For For Approve Capital Increase Reserved for Employees Participating in Savings-Related 21 Share Purchase Plan Mgmt For For 22 Approve Stock Option Plan Grants Mgmt For Against Authorize Issuance of Up to 0.4 Percent of 23 Issued Capital For Restricted Stock Plan Mgmt For Against Approve Reduction in Share Capital via 24 Cancellation of Repurchased Shares Mgmt For For Authorize Filing of Required Documents/Other 25 Formalities Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-24- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Hilton Group Plc (frm.Ladbroke Group Accept Financial Statements and Statutory PLC) GB0005002547 5/20/2005 1 Reports Mgmt For For Approve Final Dividend of 6 Pence Per 2 Ordinary Share Mgmt For For 3 Re-elect Christopher Bell as Director Mgmt For For 4 Re-elect Stephen Bollenbach as Director Mgmt For For 5 Re-elect David Michels as Director Mgmt For For 6 Elect Ian Carter as Director Mgmt For For 7 Elect Pippa Wicks as Director Mgmt For For Reappoint Ernst & Young LLP as Auditors and Authorise the Board to Determine Their 8 Remuneration Mgmt For For 9 Approve Remuneration Report Mgmt For For Approve EU Political Organisation Donations up to GBP 10,000 and to Incur EU Political Expenditures up to GBP 10,000; and Approve Ladbrokes Ltd. to Make EU Political Donations up to GBP 25,000 and to Incur EU 10 Political Expenditures up to GBP 25,000 Mgmt For For Approve Increase in Authorised Capital from 11 GBP 226,000,000 to GBP 230,000,000 Mgmt For For Authorise Issue of Equity or Equity-Linked Securities with Pre-emptive Rights up to 12 Aggregate Nominal Amount of GBP 52,900,000 Mgmt For For Authorise Issue of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 7,938,508 and up to Aggregate Nominal Amount of GBP 13 52,900,000 in Connection with a Rights Issue Mgmt For For Authorise 158,770,156 Shares for Market 14 Purchase Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-25- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Approve Allocation of Income, Including the Following Dividends: Interim JY 28, Final JY Honda Motor Co. Ltd. JP3854600008 6/23/2005 1 37, Special JY 0 Mgmt For For Amend Articles to: Reduce Maximum Board Size - Decrease Authorized Capital to Reflect 2 Share Repurchase Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 3.16 Elect Director Mgmt For For 3.17 Elect Director Mgmt For For 3.18 Elect Director Mgmt For For 3.19 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.21 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For For 5 Appoint External Auditors Mgmt For For Approve Reduction in Aggregate Compensation 6 Ceiling for Directors Mgmt For For Approve Payment of Annual Bonuses to 7 Directors and Statutory Auditors Mgmt For For 8 Approve Retirement Bonuses for Directors Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Hongkong Land Adopt Financial Statements and Directors' Holdings Ltd. BMG4587L1090 5/4/2005 1 and Auditors' Reports and Final Dividend Mgmt For For 2a Reelect Charles Allen-Jones as Director Mgmt For For 2b Reelect Nicholas Sallnow-Smith as Director Mgmt For For Reappoint Auditors and Authorize Board to 3 Fix Their Remuneration Mgmt For For Approve Issuance of Shares without 4 Preemptive Rights Mgmt For For 5 Authorize Share Repurchase Program Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-26- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Accept Financial Statements and Statutory HSBC Holdings Plc GB0005405286 5/27/2005 1 Reports Mgmt For For 2.a Re-elect Sir John Bond as Director Mgmt For For 2.b Re-elect R Ch'ien as Director Mgmt For For 2.c Re-elect J Coombe as Director Mgmt For For 2.d Re-elect Baroness Dunn as Director Mgmt For For 2.e Re-elect D Flint as Director Mgmt For For 2.f Re-elect J Hughes-Hallet as Director Mgmt For For 2.g Re-elect Sir Brian Moffat as Director Mgmt For For 2.h Re-elect S Newton as Director Mgmt For For 2.i Re-elect H Sohmen as Director Mgmt For For Reappoint KPMG Audit Plc as Auditors and Authorise the Board to Determine Their 3 Remuneration Mgmt For For 4 Approve Remuneration Report Mgmt For For Authorise Issue of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 100,000 (Preference Shares); USD 100,000 (Preference Shares); EUR 100,000 (Preference Shares); 5 and USD 1,119,000,000 (Oridnary Shares) Mgmt For For Authorise Issue of Equity or Equity-Linked Securities without Pre-emptive Rights up to 6 Aggregate Nominal Amount of USD 279,750,000 Mgmt For For Authorise 1,119,000,000 Ordinary Shares for 7 Market Purchase Mgmt For For Amend HSBC Holdings Savings-Related Share 8 Option Plan Mgmt For For Amend HSBC Holdings Savings-Related Share 9 Option Plan: International Mgmt For For 10 Approve the HSBC US Employee Stock Plan Mgmt For For 11 Approve the HSBC Share Plan Mgmt For For Amend Articles of Association Re: Statutory 12 and Best Practice Changes Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-27- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Hysan Development Co. Accept Financial Statements and Statutory Ltd. HK0014000126 5/10/2005 1 Reports Mgmt For For 2 Approve Final Dividend with Scrip Alternative Mgmt For For 3a Reelect Fa-kuang Hu as Director Mgmt For For 3b Reelect Geoffrey Meou-tsen Yeh as Director Mgmt For For 3c Reelect Pauline Wah Ling Yu Wong as Director Mgmt For For 3d Reelect Per Jorgensen as Director Mgmt For For Reelect Deanna Ruth Tak Yung Rudgard as 3e Director Mgmt For For 3f Reelect Anthony Hsien Pin Lee as Director Mgmt For For Approve Annual Directors' Fees and Additional Fees Payable to Directors Serving 4 on Board Committees Mgmt For For Reappoint Deloitte Touche Tohmatsu as Auditors and Authorize Board to Fix Their 5 Remuneration Mgmt For For Approve Issuance of Equity or Equity-Linked 6 Securities without Preemptive Rights Mgmt For Against Approve Repurchase of Up to 10 Percent of 7 Issued Capital Mgmt For For 8 Authorize Reissuance of Repurchased Shares Mgmt For For 9 Approve New Share Option Scheme Mgmt For Against Amend Articles Re: Voting at Meetings and 10 Retirement by Rotation of Directors Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Industrial Bank of Korea US4560361028 3/30/2005 Meeting for Holders of ADR's APPROVAL OF BALANCE SHEET, INCOME STATEMENT AND APPROPRIATION OF RETAINED EARNINGS FOR THE 44TH FISCAL YEAR, AS SET FORTH IN THE 1 BANK S NOTICE OF MEETING ENCLOSED HEREWITH. Mgmt For For APPROVAL OF AMENDMENT TO THE ARTICLES OF INCORPORATION, AS SET FORTH IN THE BANK S 2 NOTICE OF MEETING ENCLOSED HEREWITH. Mgmt For For
-28- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- APPROVAL OF THE INCREASE OF REMUNERATION LIMIT OF EXECUTIVE OFFICER, AS SET FORTH IN THE BANK S NOTICE OF MEETING ENCLOSED 3 HEREWITH. Mgmt For For APPROVAL OF THE INCREASE OF REMUNERATION LIMIT OF AUDITOR, AS SET FORTH IN THE BANK S 4 NOTICE OF MEETING ENCLOSED HEREWITH. Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- ING Groep NV NL0000303600 4/26/2005 1 Open Meeting Receive Reports of Executive and Supervisory 2a Boards Discussion on Profit Retention and 2b Distribution Policy Approve Financial Statements and Statutory 3a Reports Mgmt For For Approve Allocation of Income and Total 3b Dividends of EUR 1.07 Per Share Mgmt For For 4a Approve Discharge of Executive Board Mgmt For For 4b Approve Discharge of Supervisory Board Mgmt For For Discuss and Approve Implementation of Dutch 5a Corporate Governance Code by Company Mgmt For For 5b Discuss Executive Board Profile 5c Discuss Supervisory Board Profile Reelect Luella Gross Goldberg to Supervisory 6a Board Mgmt For For Reelect Godfried van der Lugt to Supervisory 6b Board Mgmt For For 6c Elect Jan Hommen to Supervisory Board Mgmt For For 6d Elect Christine Lagarde to Supervisory Board Mgmt For For Approve Stock Option and Incentive Stock 7 Grants for Members of Executive Board Mgmt For For Grant Board Authority to Issue 220 Million Ordinary Shares Restricting/Excluding Preemptive Rights (Plus 220 Million Ordinary 8a Shares in Connection with Merger) Mgmt For For Grant Board Authority to Issue 10 Million Preference B Shares in Connection with 8b Conversion of ING Perpetuals III Mgmt For For
-29- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Authorize Repurchase of Up to Ten Percent of 9 Issued Share Capital Mgmt For For 10 Other Business (Non-Voting) - ----------------------------------------------------------------------------------------------------------------------------------- Approve Allocation of Income, Including the Following Dividends: Interim JY 16, Final JY Ito-Yokado Co. Ltd. JP3142800006 5/26/2005 1 18, Special JY 0 Mgmt For For Approve Formation of Joint Holding Company with Seven-Eleven Japan Co. and Denny's 2 Japan Co. Mgmt For For Amend Articles to Change Record Date for 3 Payment of Interim Dividends Mgmt For For 4.1 Elect Director Mgmt For For 4.2 Elect Director Mgmt For For 4.3 Elect Director Mgmt For For 4.4 Elect Director Mgmt For For 4.5 Elect Director Mgmt For For 4.6 Elect Director Mgmt For For 4.7 Elect Director Mgmt For For 4.8 Elect Director Mgmt For For 4.9 Elect Director Mgmt For For 4.1 Elect Director Mgmt For For 4.11 Elect Director Mgmt For For 4.12 Elect Director Mgmt For For 4.13 Elect Director Mgmt For For 4.14 Elect Director Mgmt For For 4.15 Elect Director Mgmt For For 4.16 Elect Director Mgmt For For 4.17 Elect Director Mgmt For For 4.18 Elect Director Mgmt For For 5.1 Appoint Internal Statutory Auditor Mgmt For For 5.2 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Director and 6 Statutory Auditor Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-30- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Approve Allocation of Income, Including the Following Dividends: Interim JY 19, Final JY Kao Corp. JP3205800000 6/29/2005 1 19, Special JY 0 Mgmt For For 2 Authorize Share Repurchase Program Mgmt For For Amend Articles to: Expand Business Lines - Restore Previous Level of Authorized Capital 3 Following Share Repurchase and Cancellation Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For For 5 Approve Executive Stock Option Plan Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Accept Financial Statements and Statutory Li & Fung BMG5485F1445 5/12/2005 1 Reports Mgmt For For Approve Final Dividend of HK$0.30 Per Share 2 and Special Dividend of HK$0.25 Per Share Mgmt For For Reelect Victor Fung Kwok King as 3a Non-Executive Director Mgmt For For Reelect William Fung Kwok Lun as Executive 3b Director Mgmt For For Reelect Allan Wong Chi Yun as Independent 3c Non-Executive Director Mgmt For For Reelect Makoto Yasuda as Inependent 3d Non-Executive Director Mgmt For For Reelect Lau Butt Farn as Non-Executive 3e Director Mgmt For For Reelect Bruce Philip Rockowitz as Executive 3f Director Mgmt For For Approve Remuneration of Directors and Chairman of the Board at HK$80,000 and HK$200,000 Respectively for the Year Ending December 31, 2005 and Pay Additional Remuneration to Non-Executive Directors Who 4 Serve on the Board Committees Mgmt For For Reappoint PricewaterhouseCoopers as Auditors 5 and Authorize Board to Fix Their Remuneration Mgmt For For Approve Repurchase of Up to 10 Percent of 6 Issued Capital Mgmt For For Approve Issuance of Equity or Equity-Linked 7 Securities without Preemptive Rights Mgmt For Against 8 Authorize Reissuance of Repurchased Shares Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-31- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Approve Allocation of Income, Including the Mitsubishi Tokyo Following Dividends on Ordinary Shares: Financial Group Inc JP3902900004 6/29/2005 1 Interim JY 0, Final JY 6000, Special JY 0 Mgmt For For Amend Articles to: Increase Authorized Preferred Share Capital - Delete References to Cancelled Preferred Shares and Add 2 References to New Classes of Preferred Shares Mgmt For For Approve Merger Agreement with UFJ Holdings 3 Inc. Mgmt For For 4.1 Elect Director Mgmt For For 4.2 Elect Director Mgmt For For 4.3 Elect Director Mgmt For For 4.4 Elect Director Mgmt For For 5.1 Appoint Internal Statutory Auditor Mgmt For For 5.2 Appoint Internal Statutory Auditor Mgmt For Against Approve Retirement Bonuses for Directors and 6 Statutory Auditors Mgmt For Against - ----------------------------------------------------------------------------------------------------------------------------------- Approve Allocation of Income, Including the Mitsui O.S.K. Lines Following Dividends: Interim JY 7.5, Final Ltd. JP3362700001 6/23/2005 1 JY 8.5, Special JY 0 Mgmt For For Amend Articles to: Authorize Public Announcements in Electronic Format - Cancel Year-End Closure of Shareholder Register - 2 Streamline Board Structure Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Director and Statutory Auditor and Approve Special Payments to Continuing Directors and Statutory Auditors in Connection with 5 Abolition of Retirement Bonus System Mgmt For Against Approve Adjustment to Aggregate Compensation 6 Ceiling for Statutory Auditors Mgmt For For 7 Approve Executive Stock Option Plan Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-32- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Muenchener Rueckversicherungs- Gesellschaft AG DE0008430026 4/28/2005 Receive Financial Statements and Statutory 1 Reports Approve Allocation of Income and Dividends 2 of EUR 2.00 per Share Mgmt For For Approve Discharge of Management Board for 3 Fiscal 2004 Mgmt For For Approve Discharge of Supervisory Board for 4 Fiscal 2004 Mgmt For For Authorize Share Repurchase Program and 5 Reissuance of Repurchased Shares Mgmt For For Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 3 Billion with Preemptive Rights; Approve Creation of EUR 100 Million Pool of Conditional Capital to 6 Guarantee Conversion Rights Mgmt For For Amend Articles Re: Supervisory Board 7 Remuneration Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Nestle Sa CH0012056047 4/14/2005 1 Share Re-registration Consent Mgmt For For Management Proposals Accept Financial Statements and Statutory 1a Reports Mgmt For For Accept Consolidated Financial Statements and 1b Statutory Reports Mgmt For For Approve Discharge of Board and Senior 2 Management Mgmt For For Approve Allocation of Income and Dividends 3 of CHF 8.00 per Share Mgmt For For
-33- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Shareholder Proposals Submitted by Ethos Group Amend Articles of Association to Separate 4a Position of CEO and Chairman of the Board ShrHoldr AgainsFor Amend Articles of Association to Reduce Board Terms from Five Years to Three Years; 4b Approve Individual Election of Board Members ShrHoldr AgainsFor Amend Articles of Association to Reduce Threshold for Submitting Shareholder 4c Proposals From CHF 1 Million to CHF 100,000 ShrHoldr AgainsAgainst Management Proposals 5 Elect Guenter Blobel as Director Mgmt For For Ratify KPMG Klynveld Peat Marwick Goerdeler 6 SA as Auditors Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- News Corporation Ltd. NWS 652487802 10/26/2004 Meeting for Holders of ADRs SHARE SCHEME MEETING OF PREFERRED SHAREHOLDERS. APPROVAL OF THE SHARE SCHEME 1 DESCRIBED IN THE INFORMATION MEMORANDUM. Mgmt For For CAPITAL REDUCTION MEETING. APPROVAL OF THE CAPITAL REDUCTION BY CANCELLATION OF ALL 2 SHARES IN THE COMPANY. Mgmt For For IF YOU MARK THE AGAINST BOX, YOU WILL NOT VOTE AS REGISTERED LEGAL OWNER OF NEWSCORP SHARES AND YOUR VOTE WILL NOT BE COUNTED IN DETERMINING WHETHER THE SHARE SCHEME IS APPROVED BY A MAJORITY IN NUMBER OF 3 SHAREHOLDERS VOTING AT THE MEETINGS. Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-34- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- NII Holdings, Inc. NIHD 62913F201 4/27/2005 1.1 Elect Director Neal P. Goldman Mgmt For For 1.2 Elect Director Charles M. Herington Mgmt For For 1.3 Elect Director John W. Risner Mgmt For For 2 Ratify Auditors Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Nippon Oil Corp. Approve Allocation of Income, Including the (Formerly Nippon Following Dividends: Interim JY 4, Final JY Mitsubishi Oil Co.) JP3679700009 6/29/2005 1 6, Special JY 0 Mgmt For For Amend Articles to: Increase Authorized Capital from 2 Billion Shares to 5 Billion Shares - Authorize Public Announcements in 2 Electronic Format Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 3.16 Elect Director Mgmt For For 3.17 Elect Director Mgmt For For 3.18 Elect Director Mgmt For For 3.19 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Directors and Statutory Auditor and Special Payments to Continuing Directors and Auditors in Connection with Abolition of Retirement 5 Bonus System Mgmt For Against - -----------------------------------------------------------------------------------------------------------------------------------
-35- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Approve Allocation of Income, Including the Following Dividends: Interim JY 25, Final JY Nitto Denko Corp. JP3684000007 6/24/2005 1 25, Special JY 0 Mgmt For For 2.1 Elect Director Mgmt For For 2.2 Elect Director Mgmt For For 2.3 Elect Director Mgmt For For 2.4 Elect Director Mgmt For For 2.5 Elect Director Mgmt For For 3 Appoint Internal Statutory Auditor Mgmt For For 4 Approve Executive Stock Option Plan Mgmt For For 5 Approve Deep Discount Stock Option Plan Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Nokia Corp. 654902204 4/7/2005 Meeting for Holders of ADRs APPROVAL OF THE INCOME STATEMENTS AND THE 1 BALANCE SHEET. Mgmt For For APPROVAL OF A PROPOSAL TO THE ANNUAL GENERAL 2 MEETING OF A DIVIDEND OF EUR 0.33 PER SHARE. Mgmt For For DISCHARGE OF THE CHAIRMAN, THE MEMBERS OF THE BOARD OF DIRECTORS, AND THE PRESIDENT, 3 FROM LIABILITY. Mgmt For For PROPOSAL ON THE COMPOSITION OF THE BOARD AS PROPOSED BY THE CORPORATE GOVERNANCE AND 4 NOMINATION COMMITTEE. Mgmt For For 5.1 Elect Directors Paul J. Collins Mgmt For For 5.2 Elect Directors Georg Ehrnrooth Mgmt For For 5.3 Elect Directors Bengt Holmstrom Mgmt For For 5.4 Elect Directors Per Karlsson Mgmt For For 5.5 Elect Directors Jorma Ollila Mgmt For For 5.6 Elect Directors Marjorie Scardino Mgmt For For 5.7 Elect Directors Vesa Vainio Mgmt For For 5.8 Elect Directors Arne Wessberg Mgmt For For 5.9 Elect Directors Dan Hesse Mgmt For For 5.1 Elect Directors Edouard Michelin Mgmt For For APPROVAL OF THE REMUNERATION TO BE PAID TO 6 THE AUDITOR. Mgmt For For
-36- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- APPROVAL OF THE RE-ELECTION OF PRICEWATERHOUSECOOPERS OY AS THE AUDITORS 7 FOR FISCAL YEAR 2005. Mgmt For For APPROVAL OF THE PROPOSAL TO GRANT STOCK 8 OPTIONS TO SELECTED PERSONNEL OF THE COMPANY. Mgmt For For APPROVAL OF THE PROPOSAL OF THE BOARD TO REDUCE THE SHARE CAPITAL THROUGH 9 CANCELLATION OF NOKIA SHARES HELD BY COMPANY. Mgmt For For AUTHORIZATION TO THE BOARD TO INCREASE THE 10 SHARE CAPITAL OF THE COMPANY. Mgmt For For AUTHORIZATION TO THE BOARD TO REPURCHASE 11 NOKIA SHARES. Mgmt For For AUTHORIZATION TO THE BOARD TO DISPOSE NOKIA 12 SHARES HELD BY THE COMPANY. Mgmt For For MARK THE FOR BOX IF YOU WISH TO INSTRUCT NOKIA S LEGAL COUNSELS TO VOTE IN THEIR 13 DISCRETION ON YOUR BEHALF ONLY UPON ITEM 15. Mgmt For Against - ----------------------------------------------------------------------------------------------------------------------------------- Amend Articles to: Authorize Public Nomura Holdings Inc. JP3762600009 6/28/2005 1 Announcements in Electronic Format Mgmt For For Approve Executive Stock Option Plan and 2 Deep-Discount Stock Option Plan Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-37- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Accept Financial Statements and Statutory Novartis AG CH0012005267 3/1/2005 1 Reports Mgmt For For Approve Discharge of Board and Senior 2 Management Mgmt For For Approve Allocation of Income and Dividends 3 of CHF 1.05 per Share Mgmt For For Approve CHF 19 Million Reduction in Share 4 Capital via Share Cancellation Mgmt For For Authorize Repurchase of up to Ten Percent of 5 Issued Share Capital Mgmt For For 6.1 Reelect Birgit Breuel as Director Mgmt For For 6.2 Reelect Peter Burckhardt as Director Mgmt For For 6.3 Reelect Alexandre Jetzer as Director Mgmt For For 6.4 Reelect Pierre Landolt as Director Mgmt For For 6.5 Reelect Ulrich Lehner as Director Mgmt For For 7 Ratify PricewaterhouseCoopers AG as Auditors Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Approve Allocation of Income, Including the Following Dividends: Interim JY 1000, Final NTT DoCoMo Inc. JP3165650007 6/21/2005 1 JY 1000, Special JY 0 Mgmt For For 2 Authorize Share Repurchase Program Mgmt For For Amend Articles to: Expand Business Lines - Reduce Maximum Board Size - Decrease Authorized Capital to Reflect Share Repurchase - Authorize Public Announcements 3 in Electronic Format Mgmt For For 4.1 Elect Director Mgmt For For 4.2 Elect Director Mgmt For For 4.3 Elect Director Mgmt For For 5 Appoint Internal Statutory Auditor Mgmt For Against Approve Retirement Bonuses for Directors and 6 Statutory Auditor Mgmt For Against Approve Adjustment to Aggregate Compensation 7 Ceiling for Directors Mgmt For Against - -----------------------------------------------------------------------------------------------------------------------------------
-38- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Petrochina Co. Ltd. CN0009365379 5/26/2005 1 Accept Report of the Board of Directors Mgmt For For 2 Accept Report of the Supervisory Committee Mgmt For For Accept Financial Statements and Statutory 3 Reports Mgmt For For 4 Approve Final Dividend Mgmt For For Authorize Board to Determine the 5 Distribution of Interim Dividend for 2005 Mgmt For For Appoint PricewaterhouseCoopers, Certified Public Accountants as International Auditors and PricewaterhouseCoopers Zhong Tian CPAs Co. Ltd., Certified Public Accountants as Domestic Auditors and Authorize Board to Fix 6 Their Remuneration Mgmt For For Amend Articles Re: Editing Changes, Reports Available to Shareholders, Voting at Meetings, Nomination of Directors, Releasing of Notices of Meetings, Material Interest of Directors in Contracts Entered into by the 7 Company Mgmt For For Approve Issuance of Equity or Equity-Linked 8 Securities without Preemptive Rights Mgmt For Against 9 Other Business (Voting) Mgmt For Against - ----------------------------------------------------------------------------------------------------------------------------------- Philips Electronics Nv NL0000009538 3/31/2005 1 Open Meeting Approve Financial Statements and Statutory 2.a Reports Mgmt For For Receive Explanation on Dividend and Reserve 2.b Policy (Non-Voting) Approve Dividend of EUR 0.40 ($0.52) Per 2.c Common Share Mgmt For For 2.d Approve Discharge of Management Board Mgmt For For 2.e Approve Discharge of Supervisory Board Mgmt For For Discussion of Corporate Governance Structure 3.a (Non-Voting)
-39- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Amend Articles to Reflect Recommendations of Dutch Corporate Governance Code and 3.b Amendments to Book 2 of Dutch Civil Code Mgmt For For 4 Ratify KPMG Accountants NV as Auditors Mgmt For For Reelect G. Kleisterlee as President and CEO 5.a and Member of Management Board Mgmt For For 5.b Elect P. Sivignon to Management Board Mgmt For For 6.a Reelect L. Schweitzer to Supervisory Board Mgmt For For 6.b Elect N. Wong to Supervisory Board Mgmt For For 6.c Elect J. Schiro to Supervisory Board Mgmt For For 7 Approve Remuneration of Supervisory Board Mgmt For For Grant Board Authority to Issue Authorized Yet Unissued Shares up to 10% (20% in Connection with Merger or Acquisition) of Issued Shares Restricting/Excluding 8 Preemptive Rights Mgmt For For Authorize Repurchase of Up to Ten Percent of 9 Issued Share Capital Mgmt For For 10 Other Business (Non-Voting) 11 Close Meeting - ----------------------------------------------------------------------------------------------------------------------------------- Elect W.C. Dunn, R.J.S. Gibson, P.M. Murray, Precision Drilling F.W. Pheasey, R.L. Phillips, H.B. Swartout, Corporation PD. 74022D100 5/10/2005 1 H.G. Wiggins as Directors Mgmt For For 2 Ratify KPMG LLP as Auditors Mgmt For For 3 Approve 2:1 Stock Split Mgmt For For 4 Approve 2005 Stock Option Plan Mgmt For Against - ----------------------------------------------------------------------------------------------------------------------------------- Reckitt Benckiser Plc (Formerly Reckitt & Accept Financial Statements and Statutory Colman Plc ) GB0007278715 5/5/2005 1 Reports Mgmt For For 2 Approve Remuneration Report Mgmt For Against 3 Approve Final Dividend of 18 Pence Per Share Mgmt For For
-40- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- 4 Re-elect Adrian Bellamy as Director Mgmt For For 5 Re-elect George Greener as Director Mgmt For For 6 Elect Graham Mackay as Director Mgmt For For Reappoint PricewaterhouseCoopers LLP as Auditors and Authorise the Board to 7 Determine Their Remuneration Mgmt For For Authorise Issue of Equity or Equity-Linked Securities with Pre-emptive Rights up to 8 Aggregate Nominal Amount of GBP 25,438,000 Mgmt For For Authorise Issue of Equity or Equity-Linked Securities without Pre-emptive Rights up to 9 Aggregate Nominal Amount of GBP 3,815,000 Mgmt For For Authorise 72,500,000 Shares for Market 10 Purchase Mgmt For For Approve Reckitt Benckiser 2005 11 Savings-Related Share Option Plan Mgmt For For Approve Reckitt Benckiser 2005 Global Stock 12 Profit Plan Mgmt For For Approve Reckitt Benckiser 2005 USA 13 Savings-Related Share Option Plan Mgmt For For Amend Reckitt Benckiser Senior Executive 14 Share Ownership Policy Plan Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Rio Tinto Plc (Formerly Rtz Corp. Plc) 767204100 4/14/2005 Meeting for Holders of ADR's AUTHORITY TO ALLOT RELEVANT SECURITIES UNDER 1 SECTION 80 OF THE COMPANIES ACT 1985 Mgmt For For AUTHORITY TO ALLOT EQUITY SECURITIES FOR CASH UNDER SECTION 89 OF THE COMPANIES ACT 2 1985 Mgmt For For AUTHORITY TO PURCHASE RIO TINTO PLC SHARES 3 BY THE COMPANY OR RIO TINTO LIMITED Mgmt For For AUTHORITY TO PURCHASE RIO TINTO LIMITED SHARES, OFF MARKET BY TENDER, BY RIO TINTO 4 LIMITED Mgmt For For
-41- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- AMENDMENTS TO THE ARTICLES OF ASSOCIATION OF THE COMPANY AND THE CONSTITUTION OF RIO 5 TINTO LIMITED Mgmt For For AMENDMENTS TO THE DLC MERGER SHARING 6 AGREEMENT Mgmt For For 7 APPROVAL OF THE RIO TINTO SHARE SAVINGS PLAN Mgmt For For 8 ELECTION OF RICHARD GOODMANSON AS A DIRECTOR Mgmt For For 9 ELECTION OF ASHTON CALVERT AS A DIRECTOR Mgmt For For 10 ELECTION OF VIVIENNE COX AS A DIRECTOR Mgmt For For 11 RE-ELECTION OF PAUL SKINNER AS A DIRECTOR Mgmt For For 12 Ratify Auditors Mgmt For For 13 APPROVAL OF REMUNERATION REPORT Mgmt For For RECEIVE THE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 14 2004 * Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Royal Bank Of Scotland Group Plc Accept Financial Statements and Statutory (The) GB0007547838 4/20/2005 1 Reports Mgmt For For 2 Approve Remuneration Report Mgmt For For Approve Final Dividend of 41.2 Pence Per 3 Share Mgmt For For 4 Re-elect Jim Currie as Director Mgmt For For 5 Re-elect Sir Fred Goodwin as Director Mgmt For For 6 Re-elect Sir Steve Robson as Director Mgmt For For 7 Elect Archie Hunter as Director Mgmt For For 8 Elect Charles Koch as Director Mgmt For For 9 Elect Joe MacHale as Director Mgmt For For Reappoint Deloitte & Touche LLP as Auditors 10 of the Company Mgmt For For Authorise Board to Fix Remuneration of the 11 Auditors Mgmt For For Approve Increase in Authorised Share Capital; Authorise Issue of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 12 264,579,936 Mgmt For For Authorise Issue of Equity or Equity-Linked Securities without Pre-emptive Rights up to 13 Aggregate Nominal Amount of GBP 39,686,990 Mgmt For For Authorise 317,495,924 Shares for Market 14 Purchase Mgmt For For
-42- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Approve 71 M Category II Non-Cumulative US$ Pref. Shares; Allot the Newly Created and 179.5 M Unissued Category II Non-Cumulative US$ Pref. Shares, the 64.75 M Unissued Non-Cumulative Euro Pref. Shares and 300 M 15 Unissued Non-Cumulative GBP Pref. Shares Mgmt For For Approve Citizens Financial Group, Inc. Long 16 Term Incentive Plan Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Samsung Electronics Co. Ltd. 796050888 2/28/2005 Meeting for Holders of ADRs APPROVAL OF THE BALANCE SHEET, INCOME STATEMENT AND STATEMENT OF APPROPRIATION OF RETAINED EARNINGS (DRAFT) FOR THE 36TH FISCAL YEAR (FROM JANUARY 1, 2004 TO DECEMBER 31, 2004), AS SET FORTH IN THE COMPANY S NOTICE OF MEETING ENCLOSED 1 HEREWITH. Mgmt For For APPROVAL OF THE APPOINTMENT OF IN-JOO KIM AS AN EXECUTIVE DIRECTOR, AS SET FORTH IN THE COMPANY S NOTICE OF MEETING ENCLOSED 2 HEREWITH. Mgmt For For APPROVAL OF THE COMPENSATION CEILING FOR THE DIRECTORS, AS SET FORTH IN THE COMPANY S 3 NOTICE OF MEETING ENCLOSED HEREWITH. Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Sanofi-Aventis (Formerly Sanofi-Synthelabo ) FR0000120578 12/23/2004 Special Business Approve Merger by Absorption of Aventis by Sanofi-Aventis; Authorize Issuance of 19.1 Million Shares to Compensate Aventis 1 Minority Shareholders Mgmt For For 2 Approve Accounting Treatment of Absorption Mgmt For For
-43- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Assume Obligations of 257,248 Outstanding Aventis Warrants; Authorize Issuance of Up to 301,984 Sanofi-Aventis Shares to Satisfy 3 Conversion of Aventis Warrants Mgmt For For Assume Obligations of 48.08 Million Outstanding Aventis Stock Options; Authorize Issuance of Sanofi-Aventis Shares to Satisfy 4 Conversion of Aventis Stock Options Mgmt For For Set Dec. 31, 2004, as Effective Date of Merger and Related Capital Increase to 5 Aventis Minority Shareholders Mgmt For For 6 Amend Articles to Reflect Changes in Capital Mgmt For For Approve Capital Increase Reserved for Employees Participating in Savings-Related 7 Share Purchase Plan Mgmt For For Authorize Filing of Required Documents/Other 8 Formalities Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Sanofi-Aventis (Formerly Sanofi-Synthelabo ) FR0000120578 5/31/2005 Ordinary Business Approve Financial Statements and Statutory 1 Reports Mgmt For For Accept Consolidated Financial Statements and 2 Statutory Reports Mgmt For For Approve Allocation of Income and Dividends 3 of EUR 1.20 per Share Mgmt For For Approve Special Auditors' Report Regarding 4 Related-Party Transactions Mgmt For For Ratify PricewaterhouseCoopers Audit as 5 Auditor Mgmt For For 6 Ratify Pierre Coll as Alternate Auditor Mgmt For For Authorize Repurchase of Up to Ten Percent of 7 Issued Share Capital Mgmt For For 8 Cancel Outstanding Debt Issuance Authority Mgmt For For
-44- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Special Business Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 1.4 Billion; Authorize Global Limit of EUR 9 1.6 Billion Mgmt For For Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 10 840 Million Mgmt For Against Authorize Capitalization of Reserves of Up to EUR 500 Million for Bonus Issue or 11 Increase in Par Value Mgmt For For Authorize Board to Increase Capital in the Event of Demand Exceeding Amounts Proposed 12 in Issuance Authorities Above Mgmt For Against Approve Capital Increase Reserved for Employees Participating in Savings-Related 13 Share Purchase Plan Mgmt For For 14 Approve Stock Option Plan Grants Mgmt For Against Authorize Up to 1 Percent of Issued Capital 15 For Use in Restricted Stock Plan Mgmt For Against Approve Reduction in Share Capital via 16 Cancellation of Repurchased Shares Mgmt For For Authorize Filing of Required Documents/Other 17 Formalities Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Receive Financial Statements and Statutory SAP AG DE0007164600 5/12/2005 1 Reports Approve Allocation of Income and Dividends 2 of EUR 1.10 per Share Mgmt For For Approve Discharge of Management Board for 3 Fiscal 2004 Mgmt For For Approve Discharge of Supervisory Board for 4 Fiscal 2004 Mgmt For For Ratify KPMG Deutsche Treuhand-Gesellschaft 5 AG as Auditors Mgmt For For
-45- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Elect Erhard Schipporeit to the Supervisory 6 Board Mgmt For For Amend Articles Re: Share Capital; Conditional Captial IIa; Conditional Capital 7 IIIa Mgmt For For 8 Change Company Name to SAP AG Mgmt For For Amend Articles Re: Calling of and Registration for Shareholder Meetings due to Proposed Changes in German Law (Company Integrity and Modernization of Shareholder 9 Lawsuits Regulation) Mgmt For For Approve Creation of EUR 60 Million Pool of Conditional Capital with Preemptive Rights; Approve Creation of EUR 60 Million Pool of 10 Conditional Capital without Preemptive Rights Mgmt For For Authorize Share Repurchase Program and 11 Reissuance of Repurchased Shares Mgmt For For Authorize Use of Financial Derivatives 12 Method when Repurchasing Shares Mgmt For Against - ----------------------------------------------------------------------------------------------------------------------------------- Schlumberger Ltd. SLB 806857108 4/13/2005 Meeting for Holders of ADR's 1.1 Elect Director J. Deutch Mgmt For Abstain 1.2 Elect Director J.S. Gorelick Mgmt For For 1.3 Elect Director A. Gould Mgmt For For 1.4 Elect Director T. Isaac Mgmt For For 1.5 Elect Director A. Lajous Mgmt For For 1.6 Elect Director A. Levy-Lang Mgmt For For 1.7 Elect Director M.E. Marks Mgmt For For 1.8 Elect Director D. Primat Mgmt For For 1.9 Elect Director T.I. Sandvold Mgmt For For 1.1 Elect Director N. Seydoux Mgmt For For 1.11 Elect Director L.G. Stuntz Mgmt For For 1.12 Elect Director R. Talwar Mgmt For For ADOPTION AND APPROVAL OF FINANCIALS AND 2 DIVIDENDS Mgmt For For ADOPTION OF MANDATORY AMENDMENTS TO THE 3 ARTICLES OF INCORPORATION Mgmt For For
-46- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- ADOPTION OF VOLUNTARY AMENDMENTS TO THE 4 ARTICLES OF INCORPORATION Mgmt For For APPROVAL OF ADOPTION OF THE SCHLUMBERGER 5 2005 OPTION PLAN Mgmt For For APPROVAL OF ADOPTION OF AN AMENDMENT TO THE 6 SCHLUMBERGER DISCOUNTED STOCK PURCHASE PLAN Mgmt For For APPROVAL OF INDEPENDENT REGISTERED PUBLIC 7 ACCOUNTING FIRM Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- SHOPPERS DRUG MART CORP SC. CA82509W1032 5/11/2005 1.1 Elect Director Glenn K. Murphy Mgmt For For 1.2 Elect Director Joshua Bekenstein Mgmt For For 1.3 Elect Director Kim Davis Mgmt For For 1.4 Elect Director James H. Greene, Jr. Mgmt For For 1.5 Elect Director Eva L. Kwok Mgmt For For 1.6 Elect Director Dean Metcalf Mgmt For For 1.7 Elect Director Paul E. Raether Mgmt For For 1.8 Elect Director Leslee J. Thompson Mgmt For For 1.9 Elect Director David M. Williams Mgmt For For 2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For 3 Adopt Shareholder Rights Plan (Poison Pill) Mgmt For For 4 Amend Bylaw No. 2B Re: Executive Committee Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Siemens AG DE0007236101 1/27/2005 1 Receive Supervisory Board Report Receive Financial Statements and Statutory 2 Reports Approve Allocation of Income and Dividends 3 of EUR 1.25 per Share Mgmt For For Approve Discharge of Management Board for 4 Fiscal 2003/2004 Mgmt For For Approve Discharge of Supervisory Board for 5 Fiscal 2003/2004 Mgmt For For
-47- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Ratify KPMG Deutsche Treuhand-Gesellschaft 6 AG as Auditors Mgmt For For Elect Heinrich v. Pierer to the Supervisory Board; Elect Michael Mirow as Alternate 7 Supervisory Board Memeber Mgmt For For Authorize Share Repurchase Program and 8 Reissuance of Repurchased Shares Mgmt For For Approve Remuneration of Supervisory Board 9 Members Mgmt For For Amend Articles Re: Designate Electronic Publications for Meeting Announcements and 10 Invitation to Shareholder Meetings Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- SIT Money Market Fund Inc. 82979F101 10/18/2004 1.1 Elect Director Eugene C. Sit Mgmt For For 1.2 Elect Director Sidney L. Jones Mgmt For For 1.3 Elect Director William E. Frenzel Mgmt For For 1.4 Elect Director John E. Hulse Mgmt For For 1.5 Elect Director Bruce C. Lueck Mgmt For For 1.6 Elect Director Donald W. Phillips Mgmt For For 2 Ratify Auditors Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Approve Allocation of Income, Including the Following Dividends: Interim JY 0, Final JY Softbank Corp JP3436100006 6/22/2005 1 7, Special JY 0 Mgmt For For 2 Amend Articles to: Expand Business Lines Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For 4.3 Appoint Internal Statutory Auditor Mgmt For Against 4.4 Appoint Internal Statutory Auditor Mgmt For For 5 Approve Executive Stock Option Plan Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-48- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Approve Allocation of Income, Including the SUMITOMO MITSUI Following Dividends on Ordinary Shares: FINANCIAL GROUP INC. JP3890350006 6/29/2005 1 Interim JY 0, Final JY 3000, Special JY 0 Mgmt For For 2 Authorize Repurchase of Preferred Shares Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For Against Approve Retirement Bonuses for Directors and 5 Statutory Auditors Mgmt For Against - ----------------------------------------------------------------------------------------------------------------------------------- Sun Hung Kai Accept Financial Statements and Statutory Properties Ltd. HK0016000132 12/9/2004 1 Reports for the Year Ended June 30, 2004 Mgmt For For 2 Approve Final Dividend Mgmt For For 3a1 Reelect Sze-yuen Chung as Director Mgmt For For 3a2 Reelect Fung Kwok-king, Victor as Director Mgmt For For 3a3 Reelect Po-shing Woo as Director Mgmt For For 3a4 Reelect Kwan Cheuk-yin, William as Director Mgmt For For 3a5 Reelect Dicky Peter Yip as Director Mgmt For For 3b Fix Directors' Remuneration Mgmt For For Reappoint Auditors and Authorize Board to 4 Fix Their Remuneration Mgmt For For Approve Repurchase of Up to 10 Percent of 5 Issued Capital Mgmt For For Approve Issuance of Equity or Equity-Linked 6 Securities without Preemptive Rights Mgmt For Against 7 Authorize Reissuance of Repurchased Shares Mgmt For For 8 Adopt New Articles of Association Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-49- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Suncor Energy Inc SU. 867229106 4/28/2005 1.1 Elect Director Mel E. Benson Mgmt For For 1.2 Elect Director Brian A. Canfield Mgmt For For 1.3 Elect Director Bryan P. Davies Mgmt For For 1.4 Elect Director Brian A. Felesky Mgmt For For 1.5 Elect Director John T. Ferguson Mgmt For For 1.6 Elect Director W. Douglas Ford Mgmt For For 1.7 Elect Director Richard L. George Mgmt For For 1.8 Elect Director John R. Huff Mgmt For For 1.9 Elect Director Robert W. Korthals Mgmt For For 1.1 Elect Director M. Ann McCaig Mgmt For For 1.11 Elect Director Michael W. O'Brien Mgmt For For 1.12 Elect Director JR Shaw Mgmt For For 2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For 3 Amend Shareholder Rights Plan (Poison Pill) Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Synthes Inc US87162M4096 4/21/2005 1 Other Business Mgmt For Against 2 Approve the Report on the Business Year 2004 Mgmt For For Accept Consolidated Financial Statements and 3 Statutory Reports Mgmt For For Approve the Report on the Dividend Approved 4 by the Board of Directors Mgmt For For Elect Directors Robert Bland, Roland 5 Bronnimann and Allen Misher Mgmt For For 6 Ratify Auditors Mgmt For For Amend Certificate to Establish Restrictions 7 on Stock Issuance Mgmt For Against 8 Other Business Mgmt For Against - ----------------------------------------------------------------------------------------------------------------------------------- Approve Allocation of Income, Including the Takeda Pharmaceutical Following Dividends: Interim JY 44, Final JY Co. Ltd. JP3463000004 6/29/2005 1 44, Special JY 0 Mgmt For For Amend Articles to: Increase Authorized Capital from 2.4 Billion to 3.5 Billion Shares - Set Maximum Number of Internal Auditors - Clarify Board's Authority to Vary 2 AGM Record Date - Set Maximum Board Size Mgmt For For
-50- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Director and 5 Statutory Auditor Mgmt For Against - ----------------------------------------------------------------------------------------------------------------------------------- Talisman Energy Inc. TLM. 87425E103 5/3/2005 1.1 Elect Director Douglas D. Balwin Mgmt For For 1.2 Elect Director James W. Buckee Mgmt For For 1.3 Elect Director Kevin S. Dunne Mgmt For For 1.4 Elect Director Al L. Flood Mgmt For For 1.5 Elect Director Dale G. Parker Mgmt For For 1.6 Elect Director Lawrence G. Tapp Mgmt For For 1.7 Elect Director Stella M. Thompson Mgmt For For 1.8 Elect Director Robert G. Welty Mgmt For For 1.9 Elect Director Charles W. Wilson Mgmt For For 2 Ratify Ernst & Young LLP as Auditors Mgmt For For 3 Amend Shareholder Rights Plan (Poison Pill) Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Approve Conditional Stock Purchase by Techtronic Industries Co. Ltd., Ryobi Technologies GmbH and Techtronic Industries North America, Inc. from Atlas Copco AB, Atlas Copco North America Inc. and Atlas Techtronic Industries HK0669013440 1/3/2005 1 Copco Hldg. GmbH Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Accept Financial Statements and Statutory Techtronic Industries HK0669013440 5/30/2005 1 Reports Mgmt For For 2 Approve Final Dividend of HK$0.125 Per Share Mgmt For Against Reelect Horst Julius Pudwill as Group 3a Executive Director Mgmt For For Reelect Vincent Ting Kau Cheung as 3b Non-Executive Director Mgmt For For Reelect Christopher Patrick Langley as 3c Independent Non-Executive Director Mgmt For For Reelect Manfred Kuhlmann as Independent 3d Non-Executive Director Mgmt For For Authorize Board to Fix the Remuneration of 3e Directors for 2005 Mgmt For For
-51- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Appoint Auditors and Authorize Board to Fix 4 Their Remuneration Mgmt For For Approve Issuance of Equity or Equity-Linked 5 Securities without Preemptive Rights Mgmt For Against Approve Repurchase of Up to 10 Percent of 6 Issued Capital Mgmt For For 7 Authorize Reissuance of Repurchased Shares Mgmt For For Approve Issuance of Shares Pursuant to the 8 Share Option Scheme Mgmt For Against - ----------------------------------------------------------------------------------------------------------------------------------- Telecom Italia Mobile IT0001052049 4/5/2005 Special Meeting Agenda Approve Merger Agreement of the Company Into 1 Telecom Italia Spa Mgmt For For Ordinary Business Accept Financial Statements and Statutory 1 Reports Mgmt For For Fix Number of Directors on the Board; Elect Directors; Determine Directors' Term and 2 Remuneration Mgmt For For Appoint Internal Statutory Auditors; Approve 3 Remuneration of Auditors Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Telecom Italia SPA IT0003497176 10/25/2004 Meeting For Savings Shareholders Approve Report Re: Utilization of Savings 1 Shares' Special Reserve Mgmt For Reelect Current Board Representative for 2.1.A Holders of Savings Shares, Carlo Pasteris Mgmt For Elect New Candidate Designated by Saving Shareholders as Board Representative for 2.1.B Holders of Savings Shares Mgmt Against
-52- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Fix Board Representative for Holders of 2.2.A Savings Shares' Term in Office to Three Years Mgmt For Fix Board Representative of Holders of Savings Shares' Term in Office To the Newly Proposed Term Presented by Saving 2.2.B Shareholders Mgmt Against Fix Board Representative for Holders of 2.3.A Savings Shares' Remuneration at EUR 36,152 Mgmt For Fix Board Representative for Holders of Savings Shares' Remuneration To the Newly Proposed Amount Presented by Saving 2.3.B Shareholders Mgmt Against - ----------------------------------------------------------------------------------------------------------------------------------- Telecom Italia Spa IT0003497168 4/7/2005 Special Business Approve Acquisition of Telecom Italia Mobile 1 Spa Mgmt For For Ordinary Business Accept Financial Statements and Statutory 1 Reports Mgmt For For 2.1 Fix Number of Directors on the Board Mgmt For For 2.2 Approve Remuneration of Directors Mgmt For For 2.3 Elect Two Directors on the Board Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Telefonica S.A. Approve Individual and Consolidated (Formerly Telefonica Financial Statements, Allocation of Income, De Espana, S.A.) ES0178430E18 5/30/2005 1 and Discharge Directors Mgmt For For 2 Approve Dividend Mgmt For For Approve Merger by Absorption of Terra 3 Networks Mgmt For For 4 Elect Directors Mgmt For For 5 Approve Auditors Mgmt For For 6 Authorize Share Repurchase Program Mgmt For For 7 Approve Reduction in Stated Capital Mgmt For For Authorize Board to Ratify and Execute 8 Approved Resolutions Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-53- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Accept Financial Statements and Statutory Tesco Plc GB0008847096 6/24/2005 1 Reports Mgmt For For 2 Approve Remuneration Report Mgmt For For Approve Final Dividend of 5.27 Pence Per 3 Ordinary Share Mgmt For For 4 Re-elect Rodney Chase as Director Mgmt For For 5 Re-elect Sir Terry Leahy as Director Mgmt For For 6 Re-elect Tim Mason as Director Mgmt For For 7 Re-elect David Potts as Director Mgmt For For 8 Elect Karen Cook as Director Mgmt For For 9 Elect Carolyn McCall as Director Mgmt For For Reappoint PricewaterhouseCooopers LLP as 10 Auditors of the Company Mgmt For For Authorise Board to Fix Remuneration of the 11 Auditors Mgmt For For Approve Increase in Authorised Capital from 12 GBP 530,000,000 to GBP 535,000,000 Mgmt For For 13 Approve Scrip Dividend Program Mgmt For For Authorise Issue of Equity or Equity-Linked Securities with Pre-emptive Rights up to 14 Aggregate Nominal Amount of GBP 129,200,000 Mgmt For For Authorise Issue of Equity or Equity-Linked Securities without Pre-emptive Rights up to 15 Aggregate Nominal Amount of GBP 19,470,000 Mgmt For For Authorise 778,700,000 Ordinary Shares for 16 Market Purchase Mgmt For For Authorise the Company to Make EU Political Organisation Donations up to GBP 100,000 and to Incur EU Political Expenditure up to GBP 17 100,000 Mgmt For For Authorise Tesco Stores Ltd. to Make EU Political Organisation Donations up to GBP 100,000 and Incur EU Political Expenditure 18 up to GBP 100,000 Mgmt For For Authorise Tesco Ireland Ltd. to Make EU Political Organisation Donations up to GBP 25,000 and Incur EU Political Expenditure up 19 to GBP 25,000 Mgmt For For
-54- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Authorise Tesco Vin Plus S.A. to Make EU Political Organisation Donations up to GBP 25,000 and Incur EU Political Expenditure up 20 to GBP 25,000 Mgmt For For Authorise Tesco Stores CR a.s. to Make EU Political Organisation Donations up to GBP 25,000 and Incur EU Political Expenditure up 21 to GBP 25,000 Mgmt For For Authorise Tesco Stores SR a.s. to Make EU Political Organisation Donations up to GBP 25,000 and Incur EU Political Expenditure up 22 to GBP 25,000 Mgmt For For Authorise Tesco Global Rt to Make EU Political Organisation Donations up to GBP 25,000 and Incur EU Political Expenditure up 23 to GBP 25,000 Mgmt For For Authorise Tesco Polska Sp z.o.o. to Make EU Political Organisation Donations up to GBP 25,000 and Incur EU Political Expenditure up 24 to GBP 25,000 Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- The India Fund, Inc. 454089103 4/21/2005 1.1 Elect Director Leslie H. Gelb Mgmt For For 1.2 Elect Director Stephane R.F. Henry Mgmt For Withhold 1.3 Elect Director Luis F. Rubio Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Total S.A. (Formerly Total Fina Elf S.A ) FR0000120271 5/17/2005 Ordinary Business Approve Financial Statements and Statutory 1 Reports Mgmt For For Accept Consolidated Financial Statements and 2 Statutory Reports Mgmt For For Approve Allocation of Income and Dividends of EUR 5.40 per Share of which EUR 3.00 3 Remains to be Distributed Mgmt For For Approve Special Auditors' Report Regarding 4 Related-Party Transactions Mgmt For Against
-55- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Authorize Repurchase of Up to 24.4 Million 5 Shares Mgmt For For 6 Reelect Paul Desmarais Jr as Director Mgmt For For 7 Reelect Bertrand Jacquillat as Director Mgmt For For 8 Reelect Maurice Lippens as Director Mgmt For For Elect Lord Levene of Portsoken KBE as 9 Director Mgmt For For Special Business Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 10 4 Billion Mgmt For For Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 11 1.8 Billion Mgmt For For Approve Capital Increase Reserved for Employees Participating in Savings-Related 12 Share Purchase Plan Mgmt For For Authorize Up to One Percent of Issued 13 Capital for Use in Restricted Stock Plan Mgmt For Against Shareholder Proposals Shareholder Proposal: Authorize Up to One Percent of Issued Capital for Use in A Restricted Stock Plan ShrHoldr AgainsAgainst - ----------------------------------------------------------------------------------------------------------------------------------- TSAKOS ENERGY NAVIGATION LTD.(formerly MIF Limited) TNP G9108L108 5/25/2005 Meeting for Holders of ADRs 1.1 Elect Director Mr. T. Janholt Mgmt For For 1.2 Elect Director Mr. M. Jolliffe Mgmt For For 1.3 Elect Director Mr. A. Plakopitas Mgmt For For APPROVAL OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2004, TOGETHER WITH 2 THE AUDITORS REPORT. Mgmt For For 3 Ratify Auditors Mgmt For For
-56- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- INCREASE OF THE AUTHORIZED SHARE CAPITAL OF 4 THE COMPANY. Mgmt For Against AUTHORIZATION OF THE REMUNERATION OF 5 DIRECTORS. Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- UBS AG CH0012032030 4/21/2005 1 Share Re-registration Consent Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Accept Financial Statements and Statutory UBS AG CH0012032030 4/21/2005 1 Reports Mgmt For For Approve Allocation of Income and Dividends 2 of CHF 3.00 per Share Mgmt For For Approve Discharge of Board and Senior 3 Management Mgmt For For 4.1.1 Reelect Marcel Ospel as Director Mgmt For For 4.1.2 Reelect Lawrence Weinbach as Director Mgmt For For 4.2.1 Elect Marco Suter as Director Mgmt For For 4.2.2 Elect Peter Voser as Director Mgmt For For 4.3 Ratify Ernst & Young Ltd. as Auditors Mgmt For For Approve CHF 31.9 Million Reduction in Share Capital via Cancellation of Repurchased 5.1 Shares Mgmt For For 5.2 Authorize Repurchase of Issued Share Capital Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- UFJ Holdings Inc. JP3944300007 6/29/2005 Agenda For Common and Preferred Shareholders Approve Handling of Net Loss, with No 1 Dividends on Ordinary Shares Mgmt For For Amend Articles to: Decrease Authorized Capital to Reflect Cancellation and 2 Conversion of Preferred Shares Mgmt For For Approve Merger Agreement with Mitsubishi 3 Tokyo Financial Group Mgmt For For 4.1 Elect Director Mgmt For For 4.2 Elect Director Mgmt For For 4.3 Elect Director Mgmt For For
-57- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- 4.4 Elect Director Mgmt For For 4.5 Elect Director Mgmt For For 4.6 Elect Director Mgmt For For 4.7 Elect Director Mgmt For For 5.1 Appoint Internal Statutory Auditor Mgmt For For 5.2 Appoint Internal Statutory Auditor Mgmt For For 5.3 Appoint Internal Statutory Auditor Mgmt For Against 5.4 Appoint Internal Statutory Auditor Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- UFJ Holdings Inc. JP3944300007 6/29/2005 Agenda For Common Shareholders Only Approve Merger Agreement with Mitsubishi 1 Tokyo Financial Group Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Veolia Environnement (Formerly Vivendi Environment) FR0000124141 5/12/2005 Ordinary Business Approve Financial Statements and Statutory 1 Reports Mgmt For For Accept Consolidated Financial Statements and 2 Statutory Reports Mgmt For For 3 Approve Non-Tax Deductible Expenses Mgmt For For Approve Accounting Transfer from Special Long-Term Capital Gains Account to Ordinary 4 Reserve Account Mgmt For For Approve Allocation of Income and Dividends 5 of EUR 0.68 per Share Mgmt For For Approve Special Auditors' Report Regarding 6 Related-Party Transactions Mgmt For For 7 Ratify Barbier Frinault & Cie as Auditor Mgmt For For 8 Ratify Auditex as Alternate Auditor Mgmt For For Authorize Repurchase of Up to Ten Percent of 9 Issued Share Capital Mgmt For For 10 Cancel Outstanding Debt Issuance Authority Mgmt For For
-58- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Special Business Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 1 Billion; Authorize Issuance of Securities 11 Convertible into Debt Mgmt For For Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 1 Billion; Authorize Issuance of Securities 12 Convertible into Debt Mgmt For Against Authorize Capitalization of Reserves of Up to EUR 370 Million for Bonus Issue or 13 Increase in Par Value Mgmt For For Authorize the Board to Increase Capital in the Event of Demand Exceeding Amounts 14 Submitted to Shareholder Vote Above Mgmt For Against Approve Capital Increase Reserved for Employees Participating in Savings-Related 15 Share Purchase Plan Mgmt For For 16 Approve Stock Option Plan Grants Mgmt For For Authorize Up to 0.5 Percent of Issued 17 Capital for Use in Restricted Stock Plan Mgmt For Against Approve Reduction in Share Capital via 18 Cancellation of Treasury Shares Mgmt For For Amend Articles of Association Re: 19 Shareholding Threshold Disclosure Mgmt For For Ordinary Business and Special Business Authorize Filing of Required Documents/Other 20 Formalities Mgmt For For - -----------------------------------------------------------------------------------------------------------------------------------
-59- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Accept Financial Statements and Statutory Vodafone Group PLC GB0007192106 7/27/2004 1 Reports Mgmt For For 2 Approve Remuneration Report Mgmt For For 3 Re-elect Peter Bamford as Director Mgmt For For 4 Re-elect Julian Horn-Smith as Director Mgmt For For 5 Re-elect Sir David Scholey as Director Mgmt For For 6 Elect Luc Vandevelde as Director Mgmt For For Approve Final Dividend of 1.0780 Pence Per 7 Ordinary Share Mgmt For For Re-appoint Deloitte and Touche LLP as 8 Auditors of the Company Mgmt For For Authorise Board to Fix Remuneration of the 9 Auditors Mgmt For For Authorise the Company and Any Company Which is or Becomes a Subsidiary of the Company to Make EU Political Donations or Incur EU Political Expenditure up to Aggregate 10 Nominal Amount of GBP 100,000 Mgmt For Against Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of USD 11 900 Million Mgmt For For Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of USD 12 330 Million Mgmt For For Authorise 6.6 Billion Ordinary Shares for 13 Market Purchase Mgmt For For Authorise 660 Million Ordinary Shares for Market Purchase Pursuant to Contingent 14 Purchase Contracts Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Wal-Mart de Mexico S.A. de C.V. (frmrly. Cifra S.A.) MXP810081010 2/24/2005 Only V Shares Can Vote 1 Accept Chairman's Report Mgmt For For 2 Accept Audit Committee's Report Mgmt For For 3 Accept Supervisory Board Report Mgmt For For Accept Financial Statements for Fiscal Year 4 Ended December 2004 Mgmt For For Present Report on the Share Repurchase 5 Reserves Mgmt For For
-60- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Approve Cancellation of 105.3 Million 6 Company Treasury Shares Mgmt For For 7 Approve Allocation of Income Mgmt For For Approve Dividend With Payout of MXN 0.63 Per Share or Stock in the Company Whose Value Will Be Determined on The Closing Day 8 of March 15, 2005 Mgmt For For Approve Variable Capital Increase Through Issuance of 137.6 Million Common Shares To Be Paid Back as Dividends at MXN 0.63 Per Share; The Targeted Increase in Capital is 9 MXN 2.8 Billion Mgmt For For Approve Modifications to Article 5 in the 10 Bylaws Mgmt For For 11 Accept Report Re: Employee Stock Option Plan Mgmt For Against Accept Report Re: Wal-Mart de Mexico 12 Foundation Mgmt For For 13 Approve Discharge of the Board of Directors Mgmt For For Elect or Approve Members of the Board of 14 Directors and Supervisory Board Mgmt For For 15 Approve Minutes of Meeting Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Westpac Banking Corp. Accept Financial Statements and Statutory (Wbc) AU000000WBC1 12/16/2004 1 Reports 2a Elect Edward Alfred Evans as Director Mgmt For For 2b Elect Gordon McKellar Cairns as Director Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Accept Financial Statements and Statutory WPP Group Plc GB0009740423 6/27/2005 1 Reports Mgmt For For Approve Final Dividend of 5.28 Pence Per 2 Ordinary Share Mgmt For For 3 Elect Lubna Olayan as Director Mgmt For For 4 Elect Jeffrey Rosen as Director Mgmt For For 5 Elect Mark Read as Director Mgmt For For 6 Re-elect Sir Martin Sorrell as Director Mgmt For For 7 Re-elect Stanley Morten as Director Mgmt For Against 8 Re-elect John Quelch as Director Mgmt For For Reappoint Deloitte & Touche LLP as Auditors and Authorise the Board to Determine Their 9 Remuneration Mgmt For For
-61- PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05 SIT INTERNATIONAL GROWTH FUND
Fund Meeting Ballot Mgmt. Vote Issuer Symbol CUSIP Date Issues Proponent Rec. Cast - ----------------------------------------------------------------------------------------------------------------------------------- Authorise Issue of Equity or Equity-Linked Securities with Pre-emptive Rights up to 10 Aggregate Nominal Amount of GBP 42,115,797 Mgmt For For Authorise 126,473,866 Ordinary Shares for 11 Market Purchase Mgmt For For Authorise Issue of Equity or Equity-Linked Securities without Pre-emptive Rights up to 12 Aggregate Nominal Amount of GBP 6,323,693 Mgmt For For 13 Approve Remuneration Report Mgmt For For - ----------------------------------------------------------------------------------------------------------------------------------- Approve Allocation of Income, Including the Following Dividends: Interim JY 0, Final JY Yamada Denki Co. JP3939000000 6/29/2005 1 20, Special JY 1 Mgmt For For 2 Amend Articles to: Expand Business Lines Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For For Approve Increase in Aggregate Compensation 5 Ceiling for Directors Mgmt For For Approve Retirement Bonuses for Director and Statutory Auditor, and Special Bonus for 6 Family of Deceased Director Mgmt For For
-62- SIGNATURES Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) Sit International Growth Fund, a series of Sit Mutual Funds, Inc. ------------------------------------------------------------------- By (Signature and Title)*/s/ Paul E. Rasmussen, Vice President ------------------------------------------------------- Date August 31, 2005 --------------------------------------------------------------------------- * Print the name and title of each signing officer under his or her signature. -----END PRIVACY-ENHANCED MESSAGE-----