UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM N-PX

    ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT
                                    COMPANY

Investment Company Act file number 811-5085

                          CAPITAL INCOME BUILDER, INC.
              ---------------------------------------------------
               (Exact name of registrant as specified in charter)

           333 South Hope Street
           Los Angeles, California                               90071
    --------------------------------------------------------------------
    (Address of principal executive offices)                  (Zip code)

                                Vincent P. Corti
                    Capital Research and Management Company
                             333 South Hope Street
                         Los Angeles, California 90071
               ---------------------------------------------------
                    (Name and address of agent for service)

Registrant's telephone number, including area code: (213) 486-9200

Date of fiscal year end: October 31

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

ITEM 1.  PROXY VOTING RECORD
The information contained herein discloses the following information for each
matter relating to a portfolio security considered at any shareholder meeting
held during the period covered by the report and with respect to which the
registrant was entitled to vote:

(a) The name of the issuer of the portfolio security;

(b) The exchange ticker symbol of the portfolio security;

(c) The Council on Uniform Securities Identification Procedures ("CUSIP") number
for the portfolio security;

(d) The shareholder meeting date;

(e) A brief identification of the matter voted on;

(f) Whether the matter was proposed by the issuer or by a security holder;

(g) Whether the registrant cast its vote on the matter;

(h) How the registrant cast its vote (e.g., for or against proposal, or abstain;
for or withhold regarding election of directors); and

(i) Whether the registrant cast its vote for or against management.

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<S>                                                                  <C>         <C>        <C>
CIB                                                                                         0000811968

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ALEXANDRIA REAL ESTATE EQUITIES, INC                                          Agenda: 932145231
     CUSIP: 015271109                         Meeting Type: Annual
    Ticker: ARE                               Meeting Date: 5/12/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      JERRY M. SUDARSKY                                             Mgmt          For           For
        JOEL S. MARCUS                                                Mgmt          For           For
        JAMES H. RICHARDSON                                           Mgmt          For           For
        RICHARD B. JENNINGS                                           Mgmt          For           For
        RICHARD H. KLEIN                                              Mgmt          For           For
        ANTHONY M. SOLOMON                                            Mgmt          For           For
        ALAN G. WALTON                                                Mgmt          For           For
        RICHMOND A. WOLF                                              Mgmt          For           For
02      RATIFICATION OF THE APPOINTMENT OF                            Mgmt          For           For
        ERNST & YOUNG LLP TO SERVE AS THE
        COMPANY S INDEPENDENT PUBLIC
        ACCOUNTANTS FOR THE FISCAL YEAR
        ENDING DECEMBER 31, 2004.

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ALTRIA GROUP, INC.                                                            Agenda: 932111482
     CUSIP: 02209S103                         Meeting Type: Annual
    Ticker: MO                                Meeting Date: 4/29/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      ELIZABETH E. BAILEY                                           Mgmt          For           For
        MATHIS CABIALLAVETTA                                          Mgmt          For           For
        LOUIS C. CAMILLERI                                            Mgmt          For           For
        J. DUDLEY FISHBURN                                            Mgmt          For           For
        ROBERT E. R. HUNTLEY                                          Mgmt          For           For
        THOMAS W. JONES                                               Mgmt          For           For
        LUCIO A. NOTO                                                 Mgmt          For           For
        JOHN S. REED                                                  Mgmt          For           For
        CARLOS SLIM HELU                                              Mgmt          For           For
        STEPHEN M. WOLF                                               Mgmt          For           For
02      RATIFICATION OF THE SELECTION OF                              Mgmt          For           For
        INDEPENDENT AUDITORS
03      STOCKHOLDER PROPOSAL NO. 1                                     Shr        Against         For
04      STOCKHOLDER PROPOSAL NO. 2                                     Shr        Against         For
05      STOCKHOLDER PROPOSAL NO. 3                                     Shr        Against         For
06      STOCKHOLDER PROPOSAL NO. 4                                     Shr        Against         For
07      STOCKHOLDER PROPOSAL NO. 5                                     Shr        Against         For

<PAGE>

08      STOCKHOLDER PROPOSAL NO. 6                                     Shr        Against         For

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AMEREN CORPORATION                                                            Agenda: 932098254
     CUSIP: 023608102                         Meeting Type: Annual
    Ticker: AEE                               Meeting Date: 4/27/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      SUSAN S. ELLIOTT                                              Mgmt          For           For
        CLIFFORD L. GREENWALT                                         Mgmt          For           For
        THOMAS A. HAYS                                                Mgmt          For           For
        RICHARD A. LIDDY                                              Mgmt          For           For
        GORDON R. LOHMAN                                              Mgmt          For           For
        RICHARD A. LUMPKIN                                            Mgmt          For           For
        JOHN PETERS MACCARTHY                                         Mgmt          For           For
        PAUL L. MILLER, JR.                                           Mgmt          For           For
        CHARLES W. MUELLER                                            Mgmt          For           For
        DOUGLAS R. OBERHELMAN                                         Mgmt          For           For
        GARY L. RAINWATER                                             Mgmt          For           For
        HARVEY SALIGMAN                                               Mgmt          For           For
02      RATIFICATION OF APPOINTMENT OF                                Mgmt          For           For
        INDEPENDENT AUDITORS
03      REPORT ON STORAGE OF IRRADIATED FUEL                           Shr        Against         For
        RODS AT CALLAWAY

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AMERICAN ELECTRIC POWER COMPANY, INC                                          Agenda: 932104932
     CUSIP: 025537101                         Meeting Type: Annual
    Ticker: AEP                               Meeting Date: 4/27/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      E.R. BROOKS                                                   Mgmt          For           For
        D.M. CARLTON                                                  Mgmt          For           For
        J.P. DESBARRES                                                Mgmt          For           For
        R.W. FRI                                                      Mgmt          For           For
        W.R. HOWELL                                                   Mgmt          For           For
        L.A. HUDSON, JR.                                              Mgmt          For           For
        L.J. KUJAWA                                                   Mgmt          For           For
        M.G. MORRIS                                                   Mgmt          For           For
        R.L. SANDOR                                                   Mgmt          For           For
        D.G. SMITH                                                    Mgmt          For           For
        K.D. SULLIVAN                                                 Mgmt          For           For
02      RATIFICATION OF INDEPENDENT AUDITORS                          Mgmt          For           For

<PAGE>

03      SHAREHOLDER PROPOSAL REGARDING                                 Shr          For         Against
        SEVERENCE AGREEMENTS FOR EXECUTIVES
04      SHAREHOLDER PROPOSAL REGARDING                                 Shr        Against         For
        SUPPLEMENTAL EXECUTIVE RETIREMENT
05      SHAREHOLDER PROPOSAL ALLOWING                                  Shr        Against         For
        INDEPENDENT AUDITORS TO PERFORM ONLY
        AUDIT AND AUDIT RELATED WORK
06      SHAREHOLDER PROPOSAL REGARDING TERM                            Shr        Against         For
        LIMITS FOR DIRECTORS

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AMSOUTH BANCORPORATION                                                        Agenda: 932091539
     CUSIP: 032165102                         Meeting Type: Annual
    Ticker: ASO                               Meeting Date: 4/15/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      CLAUDE B. NIELSEN                                             Mgmt          For           For
        CLEOPHUS THOMAS, JR.                                          Mgmt          For           For
02      RATIFICATION OF ERNST & YOUNG, LLP AS                         Mgmt          For           For
        INDEPENDENT AUDITORS.
03      APPROVAL OF THE EMPLOYEE STOCK                                Mgmt          For           For
        PURCHASE PLAN.
04      APPROVAL OF THE AMENDED 1996 LONG                             Mgmt        Against       Against
        TERM INCENTIVE COMPENSATION PLAN.
05      APPROVAL OF THE STOCK OPTION PLAN FOR                         Mgmt          For           For
        OUTSIDE DIRECTORS.
06      TO APPROVE THE SHAREHOLDER PROPOSAL                            Shr        Against         For
        RELATING TO POLITICAL CONTRIBUTIONS.

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ANNALY MORTGAGE MANAGEMENT, INC.                                              Agenda: 932152806
     CUSIP: 035710409                         Meeting Type: Annual
    Ticker: NLY                               Meeting Date: 5/27/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      KEVIN P. BRADY*                                               Mgmt          For           For
        DONNELL A. SEGALAS*                                           Mgmt          For           For
        E. WAYNE NORDBERG**                                           Mgmt          For           For
02      TO APPROVE THE AGREEMENT AND PLAN OF                          Mgmt          For           For
        MERGER, DATED AS OF DECEMBER 31,
        2003, BY AND AMONG ANNALY, FIXED
        INCOME DISCOUNT ADVISORY COMPANY, A
        DELAWARE CORPORATION, FDC MERGER SUB,
        INC., A DELAWARE CORPORATION AND OUR
        WHOLLY OWNED SUBSIDIARY, AND THE
        SHAREHOLDERS OF FIDAC.
03      RATIFICATION OF THE APPOINTMENT OF                            Mgmt          For           For
        DELOITTE & TOUCHE LLP AS INDEPENDENT
        AUDITORS FOR THE COMPANY FOR THE 2004
        FISCAL YEAR.

<PAGE>

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ANTHRACITE CAPITAL, INC.                                                      Agenda: 932140356
     CUSIP: 037023108                         Meeting Type: Annual
    Ticker: AHR                               Meeting Date: 5/25/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      DONALD G. DRAPKIN                                             Mgmt          For           For
        CARL F. GEUTHER, III                                          Mgmt          For           For
        LEON T. KENDALL                                               Mgmt          For           For
        CLAY G. LEBHAR                                                Mgmt          For           For
02      PROPOSAL TO RATIFY THE APPOINTMENT OF                         Mgmt          For           For
        DELOITTE & TOUCHE LLP AS INDEPENDENT
        AUDITORS FOR THE FISCAL YEAR ENDING
        DECEMBER 31, 2004.

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APARTMENT INVESTMENT AND MANAGEMENT                                           Agenda: 932122168
     CUSIP: 03748R101                         Meeting Type: Annual
    Ticker: AIV                               Meeting Date: 4/30/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      TERRY CONSIDINE                                               Mgmt          For           For
        PETER K. KOMPANIEZ                                            Mgmt          For           For
        JAMES N. BAILEY                                               Mgmt          For           For
        RICHARD S. ELLWOOD                                            Mgmt          For           For
        J. LANDIS MARTIN                                              Mgmt          For           For
        THOMAS L. RHODES                                              Mgmt          For           For
02      TO RATIFY THE SELECTION OF ERNST &                            Mgmt          For           For
        YOUNG LLP TO SERVE AS INDEPENDENT
        AUDITORS FOR THE COMPANY FOR THE
        FISCAL YEAR ENDING DECEMBER 31, 2004.
03      TO APPROVE THE SALE OF HIGH                                   Mgmt          For           For
        PERFORMANCE UNITS.
04      TO URGE THE COMPENSATION AND HUMAN                             Shr          For         Against
        RESOURCES COMMITTEE OF THE BOARD TO
        ESTABLISH A POLICY TO SEEK
        STOCKHOLDER APPROVAL OF CERTAIN
        EXECUTIVE SEVERANCE ARRANGEMENTS.

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ARCHSTONE-SMITH TRUST                                                         Agenda: 932122574
     CUSIP: 039583109                         Meeting Type: Annual
    Ticker: ASN                               Meeting Date: 5/20/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      ERNEST A. GERARDI, JR.                                        Mgmt          For           For
        RUTH ANN M. GILLIS                                            Mgmt          For           For

<PAGE>

01      NED S. HOLMES                                                 Mgmt          For           For
        R. SCOT SELLERS                                               Mgmt          For           For
02      RATIFICATION OF APPOINTMENT OF KPMG                           Mgmt          For           For
        LLP AS AUDITORS FOR CURRENT FISCAL
        YEAR.
03      SHAREHOLDER PROPOSAL REGARDING                                 Shr          For         Against
        SEVERANCE AGREEMENTS.

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ASHLAND INC.                                                                  Agenda: 932066889
     CUSIP: 044204105                         Meeting Type: Annual
    Ticker: ASH                               Meeting Date: 1/29/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      ERNEST H. DREW                                                Mgmt          For           For
        MANNIE L. JACKSON                                             Mgmt          For           For
        THEODORE M. SOLSO                                             Mgmt          For           For
        MICHAEL J. WARD                                               Mgmt          For           For
02      RATIFICATION OF ERNST & YOUNG AS                              Mgmt          For           For
        INDEPENDENT AUDITORS FOR FISCAL 2004.

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BANK OF AMERICA CORPORATION                                                   Agenda: 932152666
     CUSIP: 060505104                         Meeting Type: Annual
    Ticker: BAC                               Meeting Date: 5/26/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      WILLIAM BARNET, III                                           Mgmt          For           For
        CHARLES W. COKER                                              Mgmt          For           For
        JOHN T. COLLINS                                               Mgmt          For           For
        GARY L. COUNTRYMAN                                            Mgmt          For           For
        PAUL FULTON                                                   Mgmt          For           For
        CHARLES K. GIFFORD                                            Mgmt          For           For
        DONALD E. GUINN                                               Mgmt          For           For
        JAMES H. HANCE, JR.                                           Mgmt          For           For
        KENNETH D. LEWIS                                              Mgmt          For           For
        WALTER E. MASSEY                                              Mgmt          For           For
        THOMAS J. MAY                                                 Mgmt          For           For
        C. STEVEN MCMILLAN                                            Mgmt          For           For
        EUGENE M. MCQUADE                                             Mgmt          For           For
        PATRICIA E. MITCHELL                                          Mgmt          For           For
        EDWARD L. ROMERO                                              Mgmt          For           For
        THOMAS M. RYAN                                                Mgmt          For           For
        O. TEMPLE SLOAN, JR.                                          Mgmt          For           For
        MEREDITH R. SPANGLER                                          Mgmt          For           For

<PAGE>

01      JACKIE M. WARD                                                Mgmt          For           For
02      RATIFICATION OF INDEPENDENT PUBLIC                            Mgmt          For           For
        ACCOUNTANTS
03      STOCKHOLDER PROPOSAL - ANNUAL MEETING                          Shr        Against         For
        DATE
04      STOCKHOLDER PROPOSAL - NOMINATION OF                           Shr        Against         For
        DIRECTORS
05      STOCKHOLDER PROPOSAL - CHARITABLE                              Shr        Against         For
        CONTRIBUTIONS
06      STOCKHOLDER PROPOSAL - MUTUAL FUND                             Shr        Against         For
        TRADING POLICIES
07      STOCKHOLDER PROPOSAL - PRIVACY AND                             Shr        Against         For
        INFORMATION SECURITY

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BANK OF AMERICA CORPORATION                                                   Agenda: 932091692
     CUSIP: 060505104                         Meeting Type: Special
    Ticker: BAC                               Meeting Date: 3/17/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      ADOPTION OF THE MERGER AGREEMENT                              Mgmt          For           For
02      ADOPTION OF BANK OF AMERICA S AMENDED                         Mgmt        Against       Against
        STOCK PLAN
03      ADOPTION OF AN AMENDMENT TO INCREASE                          Mgmt          For           For
        THE NUMBER OF AUTHORIZED SHARES OF
        BANK OF AMERICA COMMON STOCK
04      APPROVAL OF PROPOSAL TO ADJOURN THE                           Mgmt          For           For
        BANK OF AMERICA SPECIAL MEETING, IF
        NECESSARY, TO SOLICIT ADDITIONAL
        PROXIES

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BANK OF NOVA SCOTIA                                                           Agenda: 700452422
     CUSIP: 064149107                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 3/2/2004            ISIN: CA0641491075
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        Receive the financial statements for                          Non-
        the FYE 31 OCT 2003 and the Auditors                         Voting
        report on the statements
1.1     Elect Mr. Ronald A. Brenneman as a                            Mgmt          For            *
        Director
1.10    Elect Ms. Elizabeth Parr-Johnston as                          Mgmt          For            *
        a Director
1.11    Elect Mr. Arthur R.A. Scace as a                              Mgmt          For            *
        Director
1.12    Elect Mr. Gerald W. Schwartz as a                             Mgmt          For            *
        Director
1.13    Elect Mr. Allan C. Shaw as a Director                         Mgmt          For            *

<PAGE>

1.14    Elect Mr. Paul D. Sobey as a Director                         Mgmt          For            *
1.15    Elect Mr. Richard E. Waugh as a                               Mgmt          For            *
        Director
1.2     Elect Mr. C.J. Chen as a Director                             Mgmt          For            *
1.3     Elect Mr. N. Ashleigh Everett as a                            Mgmt          For            *
        Director
1.4     Elect Mr. M. Keith Goodrich as a                              Mgmt          For            *
        Director
1.5     Elect Mr. John C. Kerr as a Director                          Mgmt          For            *
1.6     Elect The Honorable Michael J.L.                              Mgmt          For            *
        Kirby as a Director
1.7     Elect Mr. Laurent Lemaire as a                                Mgmt          For            *
1.8     Elect Mr. John T. Mayberry as a                               Mgmt          For            *
        Director
1.9     Elect The Honorable Barbara J.                                Mgmt          For            *
        McDougall as a Director
2.      Appoint PricewaterhouseCoopers LLP                            Mgmt          For            *
        and KPMG LLP as the Auditors of the
4.      Amend the Bank s Stock Option Plan to                         Mgmt          For            *
        provide that the number of common
        shares of The Bank of Nova Scotia
        issuable pursuant to the exercise of
        options under the Bank s Stock Option
        Plan be increased by an additional
        8,000,000 common shares
5.      PLEASE NOTE THAT THIS RESOLUTION IS A                          Shr        Against          *
        SHAREHOLDER PROPOSAL: Approve to
        adopt a By-law prohibiting the Chief
        Executive Officer from sitting on the
        Board of another unrelated
        Corporation listed on a stock
6.      PLEASE NOTE THAT THIS RESOLUTION IS A                          Shr        Against          *
        SHAREHOLDER PROPOSAL: Approve to
        disclose the total value of the
        pension benefits granted to each of
        the Corporation s Senior Executives
        as well as the related annual costs
        and declare any actuarial deficit of
        such plans
7.      PLEASE NOTE THAT THIS RESOLUTION IS A                          Shr        Against          *
        SHAREHOLDER PROPOSAL: Approve to
        adopt a By-law to force Senior
        Executives and any other insiders to
        give a 10 calendar day prior notice
        before trading shares of the
        Corporation, including the exercise

<PAGE>

S.3     Amend the Bank s By-law No. 1 to                              Mgmt          For            *
        increase the maximum annual aggregate
        remuneration which may be paid to
        the Directors by deleting the amount
        CAD 2,000,000 and substituting with
        the amount CAD 3,500,000 in Section
        3.13 of By-law No. 1

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BELLSOUTH CORPORATION                                                         Agenda: 932098280
     CUSIP: 079860102                         Meeting Type: Annual
    Ticker: BLS                               Meeting Date: 4/26/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      JAMES H. BLANCHARD                                            Mgmt          For           For
        ARMANDO M. CODINA                                             Mgmt          For           For
        LEO F. MULLIN                                                 Mgmt          For           For
02      RATIFY THE INDEPENDENT AUDITOR                                Mgmt          For           For
03      APPROVE AMENDMENT TO ELECT DIRECTORS                          Mgmt          For           For
        ANNUALLY
04      APPROVE THE STOCK AND INCENTIVE                               Mgmt          For           For
        COMPENSATION PLAN
05      SHAREHOLDER PROPOSAL RE: EXECUTIVE                             Shr        Against         For
        COMPENSATION
06      SHAREHOLDER PROPOSAL RE: CEO                                   Shr        Against         For
        COMPENSATION
07      SHAREHOLDER PROPOSAL RE: DISCLOSURE                            Shr        Against         For
        OF POLITICAL CONTRIBUTIONS

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BOSTON PROPERTIES, INC.                                                       Agenda: 932116381
     CUSIP: 101121101                         Meeting Type: Annual
    Ticker: BXP                               Meeting Date: 5/5/2004            ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      MORTIMER B. ZUCKERMAN                                         Mgmt          For           For
        CAROL B. EINIGER                                              Mgmt          For           For
        ALAN B. LANDIS                                                Mgmt          For           For
        RICHARD E. SALOMON                                            Mgmt          For           For
02      TO CONSIDER AND ACT UPON A                                     Shr        Against         For
        STOCKHOLDER PROPOSAL CONCERNING THE
        ANNUAL ELECTION OF DIRECTORS, IF
        PROPERLY PRESENTED AT THE MEETING.

<PAGE>

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BRISTOL-MYERS SQUIBB COMPANY                                                  Agenda: 932113347
     CUSIP: 110122108                         Meeting Type: Annual
    Ticker: BMY                               Meeting Date: 5/4/2004            ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      P.R. DOLAN                                                    Mgmt          For           For
        L.V. GERSTNER, JR.                                            Mgmt          For           For
        L. JOHANSSON                                                  Mgmt          For           For
02      APPOINTMENT OF INDEPENDENT AUDITORS                           Mgmt          For           For
03      PUBLICATION OF POLITICAL                                       Shr        Against         For
04      PROHIBITION OF POLITICAL                                       Shr        Against         For
05      SEPARATION OF CHAIRMAN AND CEO                                 Shr        Against         For
        POSITIONS
06      HIV/AIDS-TB-MALARIA                                            Shr        Against         For
07      DIRECTOR VOTE THRESHOLD                                        Shr        Against         For

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CAMDEN PROPERTY TRUST                                                         Agenda: 932112042
     CUSIP: 133131102                         Meeting Type: Annual
    Ticker: CPT                               Meeting Date: 5/5/2004            ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      RICHARD J. CAMPO                                              Mgmt          For           For
        WILLIAM R. COOPER                                             Mgmt          For           For
        GEORGE A. HRDLICKA                                            Mgmt          For           For
        SCOTT S. INGRAHAM                                             Mgmt          For           For
        LEWIS A. LEVEY                                                Mgmt          For           For
        D. KEITH ODEN                                                 Mgmt          For           For
        F. GARDNER PARKER                                             Mgmt          For           For
        STEVEN A. WEBSTER                                             Mgmt          For           For

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CANADIAN OIL SANDS TRUST NEW                                                  Agenda: 700491311
     CUSIP: 13642L100                         Meeting Type: MIX
    Ticker:                                   Meeting Date: 4/26/2004           ISIN: CA13642L1004
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        Receive the financial statements for                          Non-
        the Trust for the YE 31 DEC 2003                             Voting
        together with the Auditors report
        thereon

<PAGE>

1.      Appoint PricewaterhouseCoopers LLP as                         Mgmt          For            *
        the Auditor of Canadian Oil Sands
        Limited Corporation for the ensuing
        year and direct the Trustee to vote
        the common shares of the Corporation
        in favor of the above and authorize
        the Directors of the Corporation to
        fix their remuneration
2.      Appoint PricewaterhouseCoopers LLP as                         Mgmt          For            *
        the Auditor of the Trust for the
        ensuing year and authorize the
        Directors to fix their remuneration
3.1     Elect Mr. Marcel R. Coutu as a                                Mgmt          For            *
        Director of the Corporation for the
        ensuing year and direct the Trustee
        to vote the common shares of the
        Corporation in favor of the above
3.2     Elect Ms. E. Susan Evans, Q.C. as a                           Mgmt          For            *
        Director of the Corporation for the
        ensuing year and direct the Trustee
        to vote the common shares of the
        Corporation in favor of the above
3.3     Elect The Right Honorable Donald F.                           Mgmt          For            *
        Mazankowski as a Director of the
        Corporation for the ensuing year and
        direct the Trustee to vote the common
        shares of the Corporation in favor
        of the above
3.4     Elect Mr. Wayne M. Newhouse as a                              Mgmt          For            *
        Director of the Corporation for the
        ensuing year and direct the Trustee
        to vote the common shares of the
        Corporation in favor of the above
3.5     Elect Mr. Walter B. O Donoghue, Q.C.                          Mgmt          For            *
        as a Director of the Corporation for
        the ensuing year and direct the
        Trustee to vote the common shares of
        the Corporation in favor of the above
3.6     Elect Mr. C.E. Shultz as a Director                           Mgmt          For            *
        of the Corporation for the ensuing
        year and direct the Trustee to vote
        the common shares of the Corporation
        in favor of the above
3.7     Elect Mr. Wesley R. Twiss as a                                Mgmt          For            *
        Director of the Corporation for the
        ensuing year and direct the Trustee
        to vote the common shares of the
        Corporation in favor of the above
3.8     Elect Mr. John B. Zaozirny, Q.C. as a                         Mgmt          For            *
        Director of the Corporation for the
        ensuing year and direct the Trustee
        to vote the common shares of the
        Corporation in favor of the above

<PAGE>

4.      Approve the Unitholder Rights Plan                            Mgmt          For            *
        Agreement Agreement , as amended and
        restated on 26 APR 2004 between the
        Trust and the Trustee, its successor
        and assignees, as rights agent as
        prescribed ; and authorize any
        Director or Officer of the
        Corporation to execute and deliver
        such other documents and instruments
        and take such other actions as may be
        necessary to implement the above

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CHEVRONTEXACO CORPORATION                                                     Agenda: 932115707
     CUSIP: 166764100                         Meeting Type: Annual
    Ticker: CVX                               Meeting Date: 4/28/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      S.H. ARMACOST                                                 Mgmt          For           For
        R.E. DENHAM                                                   Mgmt          For           For
        R.J. EATON                                                    Mgmt          For           For
        S. GINN                                                       Mgmt          For           For
        C.A. HILLS                                                    Mgmt          For           For
        F.G. JENIFER                                                  Mgmt          For           For
        J.B. JOHNSTON                                                 Mgmt          For           For
        S. NUNN                                                       Mgmt          For           For
        D.J. O'REILLY                                                 Mgmt          For           For
        P.J. ROBERTSON                                                Mgmt          For           For
        C.R. SHOEMATE                                                 Mgmt          For           For
        C. WARE                                                       Mgmt          For           For
02      RATIFICATION OF INDEPENDENT                                   Mgmt          For           For
03      SHOW SUPPORT FOR THE STOCKHOLDER                              Mgmt        Against       Against
        RIGHTS PLAN POLICY
04      APPROVAL OF THE LONG-TERM INCENTIVE                           Mgmt          For           For
        PLAN
05      HIV/AIDS, TUBERCULOSIS, AND MALARIA                            Shr        Against         For
06      POLITICAL DISCLOSURE                                           Shr        Against         For
07      DIRECTOR ELECTION VOTE THRESHOLD                               Shr        Against         For
08      REPORT ON ECUADOR                                              Shr        Against         For
09      RENEWABLE ENERGY                                               Shr        Against         For

-------------------------------------------------------------------------------------------------------
CHUNGHWA TELECOM CO., LTD.                                                    Agenda: 932182253
     CUSIP: 17133Q205                         Meeting Type: Annual
    Ticker: CHT                               Meeting Date: 6/25/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

1A      THE COMPANY S OPERATION REPORTS FOR                           Mgmt          For
        2003
1B      THE SUPERVISORS AUDIT REPORTS ON THE                          Mgmt          For
        COMPANY S FINANCIAL STATEMENTS FOR
1C      THE COMPANY S FINANCIAL STATEMENTS                            Mgmt          For
        FOR 2002 APPROVED BY THE MINISTRY OF
        AUDIT OF THE REPUBLIC OF CHINA
1D      THE ENACTMENT OF THE COMPANY S RULES                          Mgmt          For
        OF PROCEDURE FOR BOARD MEETINGS
2A      THE COMPANY S FINANCIAL STATEMENTS                            Mgmt          For
        FOR 2003
2B      THE COMPANY S DISTRIBUTION OF                                 Mgmt          For
        EARNINGS FOR 2003
3A      THE COMPANY S DRAFT PROCESS FOR                               Mgmt          For
        ACQUISITION AND DISPOSAL OF ASSETS
3B      AMENDMENT OF ARTICLES 2 AND 22 OF THE                         Mgmt        Abstain
        COMPANY S ARTICLES OF INCORPORATION
3C      AMENDMENT OF THE COMPANY S PROCESS                            Mgmt          For
        FOR ENDORSEMENTS AND GUARANTEES
3D      AMENDMENT OF THE COMPANY S RULES OF                           Mgmt          For
        PROCEDURE FOR SHAREHOLDERS MEETINGS
3E      THE ELECTION OF THE COMPANY S                                 Mgmt          For
        DIRECTORS AND SUPERVISORS
4       THE ELECTION OF THE COMPANY S 4TH-                            Mgmt          For
        TERM DIRECTORS AND SUPERVISORS
        (INCLUDING 15 DIRECTORS AND 4
5       EXTEMPORARY MOTIONS                                           Mgmt          For

-------------------------------------------------------------------------------------------------------
COMERICA INCORPORATED                                                         Agenda: 932122637
     CUSIP: 200340107                         Meeting Type: Annual
    Ticker: CMA                               Meeting Date: 5/18/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      RALPH W. BABB, JR.                                            Mgmt          For           For
        JAMES F. CORDES                                               Mgmt          For           For
        PETER D. CUMMINGS                                             Mgmt          For           For
        TODD W. HERRICK                                               Mgmt          For           For
        WILLIAM P. VITITOE                                            Mgmt          For           For
        KENNETH L. WAY                                                Mgmt          For           For
02      APPROVAL AND RATIFICATION OF THE                              Mgmt          For           For
        COMERICA INCORPORATED AMENDED AND
        RESTATED EMPLOYEE STOCK PURCHASE PLAN
03      APPROVAL OF THE COMERICA INCORPORATED                         Mgmt          For           For
        INCENTIVE PLAN FOR NON- EMPLOYEE
        DIRECTORS
04      RATIFICATION OF THE APPOINTMENT OF                            Mgmt          For           For
        ERNST & YOUNG LLP AS INDEPENDENT
        AUDITORS

<PAGE>

-------------------------------------------------------------------------------------------------------
COMPANHIA VALE DO RIO DOCE                                                    Agenda: 932137373
     CUSIP: 204412209                         Meeting Type: Annual
    Ticker: RIO                               Meeting Date: 4/28/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
EA      PROPOSAL OF CAPITAL INCREASE, THROUGH                         Mgmt          For           For
        THE CAPITALIZATION OF RESERVES,
        WITHOUT THE ISSUANCE OF SHARES, AND
        THE CONSEQUENT CHANGE OF THE HEAD
        SECTION OF ARTICLE 5 OF THE COMPANY S
        BY-LAWS.
OA      APPRECIATION OF THE MANAGEMENT S                              Mgmt          For           For
        REPORT AND ANALYSIS, DISCUSSION AND
        VOTE ON THE FINANCIAL STATEMENTS FOR
        THE FISCAL YEAR ENDING DECEMBER 31,
        2003.
OB      PROPOSAL FOR THE DESTINATION OF THE                           Mgmt          For           For
        PROFITS OF THE SAID FISCAL YEAR.
OC      ESTABLISHMENT OF THE TOTAL AND ANNUAL                         Mgmt        Abstain       Against
        REMUNERATION OF THE MEMBERS OF THE
        COMPANY S MANAGEMENT.
OD      ELECTION OF THE MEMBERS OF THE FISCAL                         Mgmt          For           For
        COUNCIL AND ESTABLISHMENT OF THEIR
        REMUNERATION.

-------------------------------------------------------------------------------------------------------
CONAGRA FOODS, INC.                                                           Agenda: 932036913
     CUSIP: 205887102                         Meeting Type: Annual
    Ticker: CAG                               Meeting Date: 9/25/2003           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      DAVID H. BATCHELDER                                           Mgmt          For           For
        ROBERT A. KRANE                                               Mgmt          For           For
        MARK H. RAUENHORST                                            Mgmt          For           For
        BRUCE ROHDE                                                   Mgmt          For           For
02      RATIFY THE APPOINTMENT OF INDEPENDENT                         Mgmt          For           For
        AUDITORS
03      STOCKHOLDER PROPOSAL - GENETICALLY                             Shr        Against         For
        ENGINEERED FOOD
04      STOCKHOLDER PROPOSAL - STOCK OPTION                            Shr        Against         For
        PLAN CHANGES
05      STOCKHOLDER PROPOSAL - STOCKHOLDER                             Shr          For         Against
        RIGHTS PLAN

<PAGE>

-------------------------------------------------------------------------------------------------------
CONSOLIDATED EDISON, INC.                                                     Agenda: 932132929
     CUSIP: 209115104                         Meeting Type: Annual
    Ticker: ED                                Meeting Date: 5/17/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      V.A. CALARCO                                                  Mgmt          For           For
        G. CAMPBELL, JR.                                              Mgmt          For           For
        G.J. DAVIS                                                    Mgmt          For           For
        M.J. DEL GIUDICE                                              Mgmt          For           For
        J.S. FREILICH                                                 Mgmt          For           For
        E.V. FUTTER                                                   Mgmt          For           For
        S. HERNANDEZ-PINERO                                           Mgmt          For           For
        P.W. LIKINS                                                   Mgmt          For           For
        E.R. MCGRATH                                                  Mgmt          For           For
        F.V. SALERNO                                                  Mgmt          For           For
        S.R. VOLK                                                     Mgmt          For           For
02      RATIFICATION OF APPOINTMENT OF                                Mgmt          For           For
        INDEPENDENT ACCOUNTANTS.
03      APPROVAL OF STOCK PURCHASE PLAN.                              Mgmt          For           For
04      ADDITIONAL COMPENSATION INFORMATION.                           Shr        Against         For

-------------------------------------------------------------------------------------------------------
DTE ENERGY COMPANY                                                            Agenda: 932119161
     CUSIP: 233331107                         Meeting Type: Annual
    Ticker: DTE                               Meeting Date: 4/29/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      ANTHONY F. EARLEY, JR.                                        Mgmt          For           For
        ALLAN D. GILMOUR                                              Mgmt          For           For
        FRANK M. HENNESSEY                                            Mgmt          For           For
        GAIL J. MCGOVERN                                              Mgmt          For           For
        JOSUE ROBLES, JR.                                             Mgmt          For           For
02      INDEPENDENT AUDITORS                                          Mgmt          For           For

-------------------------------------------------------------------------------------------------------
DEVELOPERS DIVERSIFIED REALTY CORP.                                           Agenda: 932121976
     CUSIP: 251591103                         Meeting Type: Annual
    Ticker: DDR                               Meeting Date: 5/18/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      DEAN S. ADLER                                                 Mgmt          For           For
        TERRANCE R. AHERN                                             Mgmt          For           For
        MOHSEN ANVARI                                                 Mgmt          For           For

<PAGE>

01      ROBERT H. GIDEL                                               Mgmt          For           For
        VICTOR B. MACFARLANE                                          Mgmt          For           For
        CRAIG MACNAB                                                  Mgmt          For           For
        SCOTT D. ROULSTON                                             Mgmt          For           For
        BARRY A. SHOLEM                                               Mgmt          For           For
        WILLIAM B. SUMMERS. JR.                                       Mgmt          For           For
        BERT L. WOLSTEIN                                              Mgmt          For           For
        SCOTT A. WOLSTEIN                                             Mgmt          For           For
02      TO RATIFY THE AMENDMENT TO PROVIDE                            Mgmt          For           For
        FOR THE EARLY EXPIRATION OF THE
        SHAREHOLDER RIGHTS AGREEMENT.
03      TO APPROVE THE 2004 DEVELOPERS                                Mgmt          For           For
        DIVERSIFIED REALTY CORPORATION
        EQUITY-BASED AWARD PLAN.
04      TO RATIFY THE SELECTION OF                                    Mgmt          For           For
        PRICEWATERHOUSECOOPERS LLP AS THE
        COMPANY S INDEPENDENT ACCOUNTANTS FOR
        THE COMPANY S FISCAL YEAR ENDING
        DECEMBER 31, 2004.

-------------------------------------------------------------------------------------------------------
DOMINION RESOURCES, INC.                                                      Agenda: 932100439
     CUSIP: 25746U109                         Meeting Type: Annual
    Ticker: D                                 Meeting Date: 4/23/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      SUSAN B. ALLEN                                                Mgmt          For           For
        PETER W. BROWN                                                Mgmt          For           For
        RONALD J. CALISE                                              Mgmt          For           For
        THOS. E. CAPPS                                                Mgmt          For           For
        GEORGE A. DAVIDSON, JR.                                       Mgmt          For           For
        JOHN W. HARRIS                                                Mgmt          For           For
        ROBERT S. JEPSON, JR.                                         Mgmt          For           For
        BENJAMIN J. LAMBERT III                                       Mgmt          For           For
        RICHARD L. LEATHERWOOD                                        Mgmt          For           For
        MARGARET A. MCKENNA                                           Mgmt          For           For
        KENNETH A. RANDALL                                            Mgmt          For           For
        FRANK S. ROYAL                                                Mgmt          For           For
        S. DALLAS SIMMONS                                             Mgmt          For           For
        ROBERT H. SPILMAN                                             Mgmt          For           For
        DAVID A. WOLLARD                                              Mgmt          For           For
02      RETENTION OF AUDITORS                                         Mgmt          For           For
03      SHAREHOLDER PROPOSAL                                           Shr        Against         For

<PAGE>

-------------------------------------------------------------------------------------------------------
THE DOW CHEMICAL COMPANY                                                      Agenda: 932111812
     CUSIP: 260543103                         Meeting Type: Annual
    Ticker: DOW                               Meeting Date: 5/13/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      ARNOLD A. ALLEMANG                                            Mgmt          For           For
        JOHN C. DANFORTH                                              Mgmt          For           For
        JEFF M. FETTIG                                                Mgmt          For           For
        ANDREW N. LIVERIS                                             Mgmt          For           For
        JAMES M. RINGLER                                              Mgmt          For           For
        WILLIAM S. STAVROPOULOS                                       Mgmt          For           For
02      RATIFICATION OF THE APPOINTMENT OF                            Mgmt          For           For
        DELOITTE & TOUCHE LLP AS DOW S
        INDEPENDENT AUDITORS FOR 2004.
03      AMENDMENT OF THE RESTATED CERTIFICATE                         Mgmt          For           For
        OF INCORPORATION FOR THE ANNUAL
        ELECTION OF DIRECTORS.
04      STOCKHOLDER PROPOSAL ON BHOPAL.                                Shr        Against         For

-------------------------------------------------------------------------------------------------------
DUKE ENERGY CORPORATION                                                       Agenda: 932109677
     CUSIP: 264399106                         Meeting Type: Annual
    Ticker: DUK                               Meeting Date: 5/13/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      PAUL M. ANDERSON                                              Mgmt          For           For
        ANN M. GRAY                                                   Mgmt          For           For
        MICHAEL E.J. PHELPS                                           Mgmt          For           For
        JAMES T. RHODES                                               Mgmt          For           For
02      RATIFICATION OF DELOITTE & TOUCHE LLP                         Mgmt          For           For
        AS DUKE ENERGY S INDEPENDENT
        AUDITORS FOR 2004.
03      A SHAREHOLDER PROPOSAL RELATING TO                             Shr          For         Against
        DECLASSIFICATION OF DUKE ENERGY S
        BOARD OF DIRECTORS, IF PROPERLY
        PRESENTED AT THE ANNUAL MEETING.

-------------------------------------------------------------------------------------------------------
EMERSON ELECTRIC CO.                                                          Agenda: 932076791
     CUSIP: 291011104                         Meeting Type: Annual
    Ticker: EMR                               Meeting Date: 2/3/2004            ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      C. FERNANDEZ G.                                               Mgmt          For           For
        C.F. KNIGHT                                                   Mgmt          For           For
        G.A. LODGE                                                    Mgmt          For           For

<PAGE>

01      R.L. RIDGWAY                                                  Mgmt          For           For
        E.E. WHITACRE, JR.                                            Mgmt          For           For
02      RE-APPROVAL OF PERFORMANCE MEASURES                           Mgmt          For           For
        UNDER THE EMERSON ELECTRIC CO. 1997
        INCENTIVE SHARES PLAN
03      RATIFICATION OF INDEPENDENT AUDITORS                          Mgmt          For           For

-------------------------------------------------------------------------------------------------------
ENBRIDGE INC MEDIUM TERM NTS CDS-                                             Agenda: 700483681
     CUSIP: 29250N105                         Meeting Type: MIX
    Ticker:                                   Meeting Date: 5/5/2004            ISIN: CA29250N1050
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        Receive the consolidated financial                            Non-
        statements and the report of the                             Voting
        Auditors for the FYE 31 DEC 2003
1.1     Elect Mr. David A. Arledge as a                               Mgmt          For            *
        Director of the Corporation
1.10    Elect Mr. George K. Petty as a                                Mgmt          For            *
        Director of the Corporation
1.11    Elect Mr. Donald J. Taylor as a                               Mgmt          For            *
        Director of the Corporation
1.2     Elect Mr. James J. Blanchard as a                             Mgmt          For            *
        Director of the Corporation
1.3     Elect Mr. J. Lorne Braithwaite as a                           Mgmt          For            *
        Director of the Corporation
1.4     Elect Mr. Patrick D. Daniel as a                              Mgmt          For            *
        Director of the Corporation
1.5     Elect Mrs. E. Susan Evans as a                                Mgmt          For            *
        Director of the Corporation
1.6     Elect Mr. William R. Fatt as a                                Mgmt          For            *
        Director of the Corporation
1.7     Elect Mr. Richard L. George as a                              Mgmt          For            *
        Director of the Corporation
1.8     Elect Mr. Louis D. Hyndman as a                               Mgmt          For            *
        Director of the Corporation
1.9     Elect Mr. Robert W. Martin as a                               Mgmt          For            *
        Director of the Corporation
2.      Appoint PricewaterhouseCoopers LLP as                         Mgmt          For            *
        the Auditors of the Corporation and
        authorize the Directors to fix their
        remuneration

<PAGE>

3.      Approve the amendments to By-Law No.                          Mgmt          For            *
        1 of the Corporation, as specified,
        are ratified, confirmed and approved;
        and the Corporate Secretary or any
        officer of the Corporation is
        authorized, for and on behalf of the
        Corporation, to execute and deliver
        such other documents and instruments
        and take such other actions as such
        officer may determine to be necessary
        or advisable to implement this
        resolution and the matters authorized
        hereby, such determination to be
        conclusively evidenced by the
        execution and delivery of any such
        documents or instruments and the
        taking of any such actions

-------------------------------------------------------------------------------------------------------
ENERGY EAST CORPORATION                                                       Agenda: 932161627
     CUSIP: 29266M109                         Meeting Type: Annual
    Ticker: EAS                               Meeting Date: 6/18/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      R. AURELIO                                                    Mgmt          For           For
        J.A. CARRIGG                                                  Mgmt          For           For
        D.M. JAGGER                                                   Mgmt          For           For
        B.E. LYNCH                                                    Mgmt          For           For
02      TO APPROVE AN AMENDMENT TO THE                                Mgmt          For           For
        CERTIFICATE OF INCORPORATION TO
        ELIMINATE THE CLASSIFICATION OF THE
        BOARD OF DIRECTORS.
03      TO APPROVE AN AMENDMENT TO THE                                Mgmt        Against       Against
        CERTIFICATE OF INCORPORATION TO
        ELIMINATE CUMULATIVE VOTING IN THE
        ELECTION OF DIRECTORS.
04      TO APPROVE AN EXISTING EMPLOYEE STOCK                         Mgmt          For           For
        PURCHASE PLAN.
05      TO RATIFY THE APPOINTMENT OF                                  Mgmt          For           For
        PRICEWATERHOUSECOOPERS LLP AS
        INDEPENDENT PUBLIC ACCOUNTANTS.

-------------------------------------------------------------------------------------------------------
EQUITABLE RESOURCES, INC.                                                     Agenda: 932097834
     CUSIP: 294549100                         Meeting Type: Annual
    Ticker: EQT                               Meeting Date: 4/14/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      LEE T. TODD, JR., PH.D.                                       Mgmt          For           For
        MURRY S. GERBER                                               Mgmt          For           For
        GEORGE L. MILES, JR.                                          Mgmt          For           For

<PAGE>

01      JAMES W. WHALEN                                               Mgmt          For           For
02      APPROVE AMENDMENT AND RESTATEMENT OF                          Mgmt          For           For
        THE EQUITABLE RESOURCES, INC. 1999
        LONG-TERM INCENTIVE PLAN.
03      RATIFY APPOINTMENT OF ERNST & YOUNG                           Mgmt          For           For
        LLP AS AUDITORS.

-------------------------------------------------------------------------------------------------------
EQUITY OFFICE PROPERTIES TRUST                                                Agenda: 932130886
     CUSIP: 294741103                         Meeting Type: Annual
    Ticker: EOP                               Meeting Date: 5/19/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      THOMAS E. DOBROWSKI                                           Mgmt          For           For
        WILLIAM M. GOODYEAR                                           Mgmt          For           For
        JAMES D. HARPER, JR.                                          Mgmt          For           For
        RICHARD D. KINCAID                                            Mgmt          For           For
        DAVID K. MCKOWN                                               Mgmt          For           For
        SHELI Z. ROSENBERG                                            Mgmt          For           For
        EDWIN N. SIDMAN                                               Mgmt          For           For
        J. H.W.R. VAN DER VLIST                                       Mgmt          For           For
        SAMUEL ZELL                                                   Mgmt          For           For
02      RATIFICATION OF THE AUDIT COMMITTEE S                         Mgmt          For           For
        APPOINTMENT OF ERNST & YOUNG LLP AS
        INDEPENDENT AUDITORS.

-------------------------------------------------------------------------------------------------------
EQUITY RESIDENTIAL                                                            Agenda: 932139098
     CUSIP: 29476L107                         Meeting Type: Annual
    Ticker: EQR                               Meeting Date: 5/28/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      JOHN W. ALEXANDER                                             Mgmt          For           For
        CHARLES L. ATWOOD                                             Mgmt          For           For
        BRUCE W. DUNCAN                                               Mgmt          For           For
        STEPHEN O. EVANS                                              Mgmt          For           For
        JAMES D. HARPER, JR.                                          Mgmt          For           For
        BOONE A. KNOX                                                 Mgmt          For           For
        DESIREE G. ROGERS                                             Mgmt          For           For
        SHELI Z. ROSENBERG                                            Mgmt          For           For
        GERALD A. SPECTOR                                             Mgmt          For           For
        B. JOSEPH WHITE                                               Mgmt          For           For
        SAMUEL ZELL                                                   Mgmt          For           For
02      APPROVAL OF AMENDMENT TO THE                                  Mgmt          For           For
        COMPANY S DECLARATION OF TRUST TO
        REMOVE A POTENTIAL ANTI-TAKEOVER
        DEFENSE.

<PAGE>

03      RATIFICATION OF THE SELECTION OF                              Mgmt          For           For
        ERNST & YOUNG LLP AS THE COMPANY S
        INDEPENDENT AUDITORS FOR THE YEAR
        ENDING DECEMBER 31, 2004.

-------------------------------------------------------------------------------------------------------
FPL GROUP, INC.                                                               Agenda: 932114642
     CUSIP: 302571104                         Meeting Type: Annual
    Ticker: FPL                               Meeting Date: 5/21/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      H. JESSE ARNELLE                                              Mgmt          For           For
        SHERRY S. BARRAT                                              Mgmt          For           For
        ROBERT M. BEALL, II                                           Mgmt          For           For
        J. HYATT BROWN                                                Mgmt          For           For
        JAMES L. CAMAREN                                              Mgmt          For           For
        LEWIS HAY III                                                 Mgmt          For           For
        FREDERIC V. MALEK                                             Mgmt          For           For
        MICHAEL H. THAMAN                                             Mgmt          For           For
        PAUL R. TREGURTHA                                             Mgmt          For           For
        FRANK G. ZARB                                                 Mgmt          For           For
02      RATIFICATION OF THE APPOINTMENT OF                            Mgmt          For           For
        DELOITTE & TOUCHE LLP AS AUDITORS.
03      APPROVAL OF THE AMENDED AND RESTATED                          Mgmt          For           For
        LONG TERM INCENTIVE PLAN, IN AN
        AMENDED FORM.
04      APPROVAL OF THE ANNUAL INCENTIVE PLAN                         Mgmt          For           For
        AS REQUIRED BY THE INTERNAL REVENUE
        CODE.
05      APPROVAL OF THE PERFORMANCE-BASED                             Mgmt          For           For
        AWARDS PROVISIONS OF THE AMENDED AND
        RESTATED LONG TERM INCENTIVE PLAN AS
        REQUIRED BY THE INTERNAL REVENUE
06      APPROVAL OF AN AMENDMENT TO THE                               Mgmt          For           For
        RESTATED ARTICLES OF INCORPORATION TO
        INCREASE THE NUMBER OF AUTHORIZED
        SHARES OF COMMON STOCK.

-------------------------------------------------------------------------------------------------------
FEDERAL HOME LOAN MORTGAGE CORPORATI                                          Agenda: 932098343
     CUSIP: 313400301                         Meeting Type: Annual
    Ticker: FRE                               Meeting Date: 3/31/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      JOAN E. DONOGHUE                                              Mgmt          For           For
        MICHELLE ENGLER                                               Mgmt          For           For
        RICHARD KARL GOELTZ                                           Mgmt          For           For
        GEORGE D. GOULD                                               Mgmt          For           For

<PAGE>

01      HENRY KAUFMAN                                                 Mgmt          For           For
        JOHN B. MCCOY                                                 Mgmt          For           For
        SHAUN F. O'MALLEY                                             Mgmt          For           For
        RONALD F. POE                                                 Mgmt          For           For
        STEPHEN A. ROSS                                               Mgmt          For           For
        DONALD J. SCHUENKE                                            Mgmt          For           For
        CHRISTINA SEIX                                                Mgmt          For           For
        RICHARD F. SYRON                                              Mgmt          For           For
        WILLIAM J. TURNER                                             Mgmt          For           For
02      RATIFICATION OF APPOINTMENT OF                                Mgmt          For           For
        PRICEWATERHOUSECOOPERS LLP AS
        INDEPENDENT AUDITORS FOR THE YEAR

-------------------------------------------------------------------------------------------------------
FANNIE MAE                                                                    Agenda: 932154420
     CUSIP: 313586109                         Meeting Type: Annual
    Ticker: FNM                               Meeting Date: 5/25/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      S.B. ASHLEY                                                   Mgmt          For           For
        K.M. DUBERSTEIN                                               Mgmt          For           For
        T.P. GERRITY                                                  Mgmt          For           For
        T. HOWARD                                                     Mgmt          For           For
        A. KOROLOGOS                                                  Mgmt          For           For
        F.V. MALEK                                                    Mgmt          For           For
        D.B. MARRON                                                   Mgmt          For           For
        D.H. MUDD                                                     Mgmt          For           For
        A.M. MULCAHY                                                  Mgmt          For           For
        J.K. PICKETT                                                  Mgmt          For           For
        L. RAHL                                                       Mgmt          For           For
        F.D. RAINES                                                   Mgmt          For           For
        H.P. SWYGERT                                                  Mgmt          For           For
02      RATIFICATION OF THE SELECTION OF                              Mgmt          For           For
        AUDITORS
03      APPROVAL OF AN AMENDMENT TO THE                               Mgmt          For           For
        FANNIE MAE EMPLOYEE STOCK PURCHASE
04      STOCKHOLDER PROPOSAL TO REINSTATE                              Shr          For         Against
        CUMULATIVE VOTING

-------------------------------------------------------------------------------------------------------
FIRSTMERIT CORPORATION                                                        Agenda: 932099701
     CUSIP: 337915102                         Meeting Type: Annual
    Ticker: FMER                              Meeting Date: 4/21/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

01      JOHN R. COCHRAN                                               Mgmt          For           For
        RICHARD COLELLA                                               Mgmt          For           For
        PHILIP A. LLOYD, II                                           Mgmt          For           For
        ROGER T. READ                                                 Mgmt          For           For
        RICHARD N. SEAMAN                                             Mgmt          For           For
02      THE AMENDMENT OF THE FIRSTMERIT                               Mgmt          For           For
        CORPORATION 2002 STOCK PLAN.

-------------------------------------------------------------------------------------------------------
FIRSTENERGY CORP.                                                             Agenda: 932104007
     CUSIP: 337932107                         Meeting Type: Annual
    Ticker: FE                                Meeting Date: 5/18/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      P.T. ADDISON                                                  Mgmt          For           For
        E.J. NOVAK, JR.                                               Mgmt          For           For
        J.M. PIETRUSKI                                                Mgmt          For           For
        C.A. REIN                                                     Mgmt          For           For
        R.C. SAVAGE                                                   Mgmt          For           For
02      RATIFICATION OF AUDITOR                                       Mgmt          For           For
03      APPROVAL OF AMENDMENTS TO THE CODE OF                         Mgmt          For           For
        REGULATIONS TO DECLASSIFY THE BOARD
        OF DIRECTORS
04      APPROVAL OF AMENDMENTS TO THE                                 Mgmt          For           For
        ARTICLES OF INCORPORATION AND CODE OF
        REGULATIONS TO CHANGE CERTAIN VOTING
        REQUIREMENTS
05      APPROVAL OF EXISTING EXECUTIVE                                Mgmt          For           For
        DEFERRED COMPENSATION PLAN
06      APPROVAL OF EXISTING DIRECTOR                                 Mgmt          For           For
        DEFERRED COMPENSATION PLAN
07      SHAREHOLDER PROPOSAL                                           Shr          For         Against
08      SHAREHOLDER PROPOSAL                                           Shr          For         Against
09      SHAREHOLDER PROPOSAL                                           Shr        Against         For
10      SHAREHOLDER PROPOSAL                                           Shr          For         Against

-------------------------------------------------------------------------------------------------------
FLEETBOSTON FINANCIAL CORPORATION                                             Agenda: 932093519
     CUSIP: 339030108                         Meeting Type: Special
    Ticker: FBF                               Meeting Date: 3/17/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      APPROVAL OF THE MERGER AGREEMENT                              Mgmt          For           For
02      APPROVAL OF PROPOSAL TO ADJOURN THE                           Mgmt          For           For
        FLEETBOSTON SPECIAL MEETING, IF
        NECESSARY, TO SOLICIT ADDITIONAL
        PROXIES

<PAGE>

-------------------------------------------------------------------------------------------------------
GATX CORPORATION                                                              Agenda: 932114680
     CUSIP: 361448103                         Meeting Type: Annual
    Ticker: GMT                               Meeting Date: 4/23/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      ROD F. DAMMEYER                                               Mgmt          For           For
        JAMES M. DENNY                                                Mgmt          For           For
        RICHARD FAIRBANKS                                             Mgmt          For           For
        DEBORAH M. FRETZ                                              Mgmt          For           For
        MILES L. MARSH                                                Mgmt          For           For
        MICHAEL E. MURPHY                                             Mgmt          For           For
        RONALD H. ZECH                                                Mgmt          For           For
02      APPROVAL OF AUDITORS                                          Mgmt          For           For
03      APPROVAL OF 2004 EQUITY INCENTIVE                             Mgmt          For           For
        COMPENSATION PLAN
04      APPROVAL OF CASH INCENTIVE                                    Mgmt          For           For
        COMPENSATION PLAN

-------------------------------------------------------------------------------------------------------
ARTHUR J. GALLAGHER & CO.                                                     Agenda: 932134341
     CUSIP: 363576109                         Meeting Type: Annual
    Ticker: AJG                               Meeting Date: 5/18/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      T. KIMBALL BROOKER                                            Mgmt          For           For
        ROBERT E. GALLAGHER                                           Mgmt          For           For
        DAVID S. JOHNSON                                              Mgmt          For           For
02      RATIFICATION OF THE APPOINTMENT OF                            Mgmt          For           For
        ERNST & YOUNG LLP AS THE INDEPENDENT
        AUDITORS OF THE COMPANY FOR 2004.

-------------------------------------------------------------------------------------------------------
GENERAL ELECTRIC COMPANY                                                      Agenda: 932103346
     CUSIP: 369604103                         Meeting Type: Annual
    Ticker: GE                                Meeting Date: 4/28/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      CUMULATIVE VOTING                                              Shr          For         Against
02      ANIMAL TESTING                                                 Shr        Against         For
03      NUCLEAR RISK                                                   Shr        Against         For
04      REPORT ON PCB CLEANUP COSTS                                    Shr        Against         For
05      OFFSHORE SOURCING                                              Shr        Against         For
06      SUSTAINABILITY INDEX                                           Shr        Against         For
07      COMPENSATION COMMITTEE INDEPENDENCE                            Shr        Against         For

<PAGE>

08      PAY DISPARITY                                                  Shr        Against         For
09      END STOCK OPTIONS AND BONUSES                                  Shr        Against         For
0A      JAMES I. CASH, JR.                                            Mgmt          For           For
        DENNIS D. DAMMERMAN                                           Mgmt          For           For
        ANN M. FUDGE                                                  Mgmt          For           For
        CLAUDIO X. GONZALEZ                                           Mgmt          For           For
        JEFFREY R. IMMELT                                             Mgmt          For           For
        ANDREA JUNG                                                   Mgmt          For           For
        ALAN G. LAFLEY                                                Mgmt          For           For
        KENNETH G. LANGONE                                            Mgmt          For           For
        RALPH S. LARSEN                                               Mgmt          For           For
        ROCHELLE B. LAZARUS                                           Mgmt          For           For
        SAM NUNN                                                      Mgmt          For           For
        ROGER S. PENSKE                                               Mgmt          For           For
        ROBERT J. SWIERINGA                                           Mgmt          For           For
        DOUGLAS A. WARNER III                                         Mgmt          For           For
        ROBERT C. WRIGHT                                              Mgmt          For           For
0B      INDEPENDENT AUDITOR                                           Mgmt          For           For
0C      REVENUE MEASUREMENT ADDED TO                                  Mgmt          For           For
        EXECUTIVE OFFICER PERFORMANCE GOALS
10      LIMIT OUTSIDE DIRECTORSHIPS                                    Shr        Against         For
11      INDEPENDENT BOARD CHAIRMAN                                     Shr        Against         For
12      EXPLORE SALE OF COMPANY                                        Shr        Against         For
13      HOLDING STOCK FROM STOCK OPTIONS                               Shr        Against         For
14      BOARD INDEPENDENCE                                             Shr        Against         For
15      POLITICAL CONTRIBUTIONS                                        Shr        Against         For

-------------------------------------------------------------------------------------------------------
GENERAL MILLS, INC.                                                           Agenda: 932036127
     CUSIP: 370334104                         Meeting Type: Annual
    Ticker: GIS                               Meeting Date: 9/22/2003           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      STEPHEN R. DEMERITT                                           Mgmt          For           For
        LIVIO D. DESIMONE                                             Mgmt          For           For
        WILLIAM T. ESREY                                              Mgmt          For           For
        RAYMOND V. GILMARTIN                                          Mgmt          For           For
        JUDITH R. HOPE                                                Mgmt          For           For
        ROBERT L. JOHNSON                                             Mgmt          For           For
        JOHN M. KEENAN                                                Mgmt          For           For
        HEIDI G. MILLER                                               Mgmt          For           For
        H. OCHOA-BRILLEMBOURG                                         Mgmt          For           For

<PAGE>

01      STEPHEN W. SANGER                                             Mgmt          For           For
        A. MICHAEL SPENCE                                             Mgmt          For           For
        DOROTHY A. TERRELL                                            Mgmt          For           For
        RAYMOND G. VIAULT                                             Mgmt          For           For
        PAUL S. WALSH                                                 Mgmt          For           For
02      APPROVAL OF APPOINTMENT OF KPMG LLP                           Mgmt          For           For
        AS INDEPENDENT AUDITOR.
03      ADOPTION OF THE GENERAL MILLS, INC.                           Mgmt          For           For
        2003 STOCK COMPENSATION PLAN.

-------------------------------------------------------------------------------------------------------
GENERAL MOTORS CORPORATION                                                    Agenda: 932143059
     CUSIP: 370442105                         Meeting Type: Annual
    Ticker: GM                                Meeting Date: 6/2/2004            ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      P.N. BARNEVIK                                                 Mgmt          For           For
        J.H. BRYAN                                                    Mgmt          For           For
        A.M. CODINA                                                   Mgmt          For           For
        G.M.C. FISHER                                                 Mgmt          For           For
        K. KATEN                                                      Mgmt          For           For
        K. KRESA                                                      Mgmt          For           For
        A.G. LAFLEY                                                   Mgmt          For           For
        P.A. LASKAWY                                                  Mgmt          For           For
        E.S. O'NEAL                                                   Mgmt          For           For
        E. PFEIFFER                                                   Mgmt          For           For
        G.R. WAGONER, JR.                                             Mgmt          For           For
02      RATIFY SELECTION OF INDEPENDENT                               Mgmt          For           For
        ACCOUNTANTS
03      ELIMINATE AWARDING, REPRICING, OR                              Shr        Against         For
        RENEWING STOCK OPTIONS
04      ELIMINATE OPTIONS, SARS, AND                                   Shr        Against         For
        SEVERANCE PAYMENTS
05      REQUIRE AN INDEPENDENT CHAIRMAN                                Shr        Against         For
        SEPARATE FROM CHIEF EXECUTIVE OFFICER
06      APPOINT INDEPENDENT DIRECTORS TO KEY                           Shr        Against         For
        BOARD COMMITTEES
07      REPORT ON GREENHOUSE GAS EMISSIONS                             Shr        Against         For
08      APPROVE GOLDEN PARACHUTES                                      Shr        Against         For
09      REQUIRE SENIOR EXECUTIVES AND                                  Shr        Against         For
        DIRECTORS TO RETAIN STOCK OBTAINED BY
        EXERCISING OPTIONS

<PAGE>

-------------------------------------------------------------------------------------------------------
GEORGIA-PACIFIC CORPORATION                                                   Agenda: 932120366
     CUSIP: 373298108                         Meeting Type: Annual
    Ticker: GP                                Meeting Date: 5/4/2004            ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      BARBARA L. BOWLES*                                            Mgmt          For           For
        DONALD V. FITES*                                              Mgmt          For           For
        DAVID R. GOODE*                                               Mgmt          For           For
        KAREN N. HORN*                                                Mgmt          For           For
        WILLIAM R. JOHNSON*                                           Mgmt          For           For
        JAMES B. WILLIAMS**                                           Mgmt          For           For
02      PROPOSAL TO AMEND THE GEORGIA-PACIFIC                         Mgmt          For           For
        CORPORATION LONG-TERM INCENTIVE PLAN
        TO ADD STOCK APPRECIATION RIGHTS,
        KNOWN AS SARS, AS PERMITTED AWARDS
        UNDER THE PLAN.
03      PROPOSAL TO APPROVE THE GEORGIA-                              Mgmt          For           For
        PACIFIC CORPORATION SHORT-TERM
        INCENTIVE PLAN SO THAT INCENTIVE
        COMPENSATION AWARDS PAID UNDER THE
        PLAN WILL BE FULLY DEDUCTIBLE UNDER
        162(M) OF THE INTERNAL REVENUE CODE
        OF 1986, AS AMENDED.
04      PROPOSAL TO RATIFY THE APPOINTMENT OF                         Mgmt          For           For
        OUR INDEPENDENT AUDITORS, ERNST &
        YOUNG LLP, AS AUDITORS FOR OUR FISCAL
        YEAR ENDING JANUARY 1, 2005.

-------------------------------------------------------------------------------------------------------
HARRAH'S ENTERTAINMENT, INC.                                                  Agenda: 932109413
     CUSIP: 413619107                         Meeting Type: Annual
    Ticker: HET                               Meeting Date: 4/29/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      RALPH HORN                                                    Mgmt          For           For
        GARY W. LOVEMAN                                               Mgmt          For           For
        PHILIP G. SATRE                                               Mgmt          For           For
        BOAKE A. SELLS                                                Mgmt          For           For
02      ADOPTION OF THE COMPANY S 2004 EQUITY                         Mgmt          For           For
        INCENTIVE AWARD PLAN.
03      ADOPTION OF THE COMPANY S 2005 SENIOR                         Mgmt          For           For
        EXECUTIVE INCENTIVE PLAN.
04      SHAREHOLDER PROPOSAL WITH RESPECT TO                           Shr        Against         For
        POLITICAL CONTRIBUTIONS.

<PAGE>

05      RATIFICATION OF THE APPOINTMENT OF                            Mgmt          For           For
        DELOITTE & TOUCHE LLP AS INDEPENDENT
        PUBLIC ACCOUNTANTS FOR THE COMPANY
        FOR 2004 CALENDAR YEAR.

-------------------------------------------------------------------------------------------------------
HEALTH CARE PROPERTY INVESTORS, INC.                                          Agenda: 932127815
     CUSIP: 421915109                         Meeting Type: Annual
    Ticker: HCP                               Meeting Date: 5/7/2004            ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      MARY A. CIRILLO                                               Mgmt          For           For
        ROBERT R. FANNING, JR.                                        Mgmt          For           For
        JAMES F. FLAHERTY III                                         Mgmt          For           For
        DAVID B. HENRY                                                Mgmt          For           For
        MICHAEL D. MCKEE                                              Mgmt          For           For
        HAROLD M. MESSMER, JR.                                        Mgmt          For           For
        PETER L. RHEIN                                                Mgmt          For           For
        KENNETH B. ROATH                                              Mgmt          For           For
        RICHARD M. ROSENBERG                                          Mgmt          For           For
        JOSEPH P. SULLIVAN                                            Mgmt          For           For
02      APPROVAL OF THE AMENDMENT TO THE                              Mgmt          For           For
        CHARTER TO INCREASE THE COMPANY S
        AUTHORIZED COMMON STOCK TO
03      APPROVAL OF THE AMENDMENT TO THE                              Mgmt          For           For
        CHARTER TO DECLASSIFY THE BOARD.
04      RATIFICATION OF ERNST & YOUNG LLP AS                          Mgmt          For           For
        INDEPENDENT AUDITORS FOR THE YEAR
        ENDING DECEMBER 31, 2004.

-------------------------------------------------------------------------------------------------------
H.J. HEINZ COMPANY                                                            Agenda: 932032460
     CUSIP: 423074103                         Meeting Type: Annual
    Ticker: HNZ                               Meeting Date: 9/12/2003           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      W.R. JOHNSON                                                  Mgmt          For           For
        C.E. BUNCH                                                    Mgmt          For           For
        M.C. CHOKSI                                                   Mgmt          For           For
        L.S. COLEMAN, JR.                                             Mgmt          For           For
        P.H. COORS                                                    Mgmt          For           For
        E.E. HOLIDAY                                                  Mgmt          For           For
        C. KENDLE                                                     Mgmt          For           For
        D.R. O'HARE                                                   Mgmt          For           For
        L.C. SWANN                                                    Mgmt          For           For
        T.J. USHER                                                    Mgmt          For           For

<PAGE>

01      J.M. ZIMMERMAN                                                Mgmt          For           For
02      RATIFICATION OF AUDITORS.                                     Mgmt          For           For

-------------------------------------------------------------------------------------------------------
HUBBELL INCORPORATED                                                          Agenda: 932111901
     CUSIP: 443510201                         Meeting Type: Annual
    Ticker: HUBB                              Meeting Date: 5/3/2004            ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      G. RATCLIFFE                                                  Mgmt          For           For
        E. BROOKS                                                     Mgmt          For           For
        G. EDWARDS                                                    Mgmt          For           For
        J. HOFFMAN                                                    Mgmt          For           For
        A. MCNALLY IV                                                 Mgmt          For           For
        D. MEYER                                                      Mgmt          For           For
        T. POWERS                                                     Mgmt          For           For
        M. WALLOP                                                     Mgmt          For           For
        D. VAN RIPER                                                  Mgmt          For           For
        R. SWIFT                                                      Mgmt          For           For
02      RATIFICATION OF THE SELECTION OF                              Mgmt          For           For
        PRICEWATERHOUSECOOPERS LLP AS
        INDEPENDENT AUDITORS FOR THE YEAR

-------------------------------------------------------------------------------------------------------
HUSKY ENERGY INC                                                              Agenda: 700476941
     CUSIP: 448055103                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/22/2004           ISIN: CA4480551031
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        Receive the annual report of the                              Non-
        Board of Directors to the                                    Voting
        shareholders and the consolidated
        audited financial statements of the
        Corporation for the FYE 31 DEC 2003
1.1     Elect Mr. Victor T.K. Li as a                                 Mgmt          For            *
1.10    Elect Mr. Stanley T.L. Kwok as a                              Mgmt          For            *
        Director
1.11    Elect Mr. John C.S. Lau as a Director                         Mgmt          For            *
1.12    Elect Mr. Wayne E. Shaw as a Director                         Mgmt          For            *
1.13    Elect Mr. William Shurniak as a                               Mgmt          For            *
        Director
1.14    Elect Mr. Frank J. Sixt as a Director                         Mgmt          For            *
1.2     Elect Mr. Canning K.N. Fok as a                               Mgmt          For            *
        Director
1.3     Elect Mr. R. Donald Fullerton as a                            Mgmt          For            *
        Director

<PAGE>

1.4     Elect Mr. Martin J.G Glynn as a                               Mgmt          For            *
        Director
1.5     Elect Mr. Terence C.Y. Hui as a                               Mgmt          For            *
        Director
1.6     Elect Mr. Brent D. Kinney as a                                Mgmt          For            *
1.7     Elect Mr. Holger Kluge as a Director                          Mgmt          For            *
1.8     Elect Mr. Poh Chan Koh as a Director                          Mgmt          For            *
1.9     Elect Mr. Eva L. Kwok as a Director                           Mgmt          For            *
2.      Appoint KPMG LLP, Chartered                                   Mgmt          For            *
        Accountants of Calgary, Alberta the
        Auditors as the Auditors of the
        Corporation

-------------------------------------------------------------------------------------------------------
ISTAR FINANCIAL INC.                                                          Agenda: 932143821
     CUSIP: 45031U101                         Meeting Type: Annual
    Ticker: SFI                               Meeting Date: 5/25/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      JAY SUGARMAN                                                  Mgmt          For           For
        WILLIS ANDERSEN, JR.                                          Mgmt          For           For
        ROBERT W. HOLMAN, JR.                                         Mgmt          For           For
        ROBIN JOSEPHS                                                 Mgmt          For           For
        JOHN G. MCDONALD                                              Mgmt          For           For
        GEORGE R. PUSKAR                                              Mgmt          For           For
        JEFFREY A. WEBER                                              Mgmt          For           For
02      AUTHORIZATION OF ISSUANCE OF COMMON                           Mgmt          For           For
        STOCK EQUIVALENTS TO DIRECTORS UNDER
        A NON-EMPLOYEE DIRECTORS DEFERRAL
        PROGRAM.
03      APPROVAL OF EXTENDING THE ISTAR                               Mgmt          For           For
        FINANCIAL INC. HIGH PERFORMANCE UNIT
        PROGRAM TO ADD 2007 HPU PLAN AND 2008
        HPU PLAN.
04      RATIFICATION OF THE APPOINTMENT OF                            Mgmt          For           For
        PRICEWATERHOUSECOOPERS LLP AS THE
        COMPANY S INDEPENDENT ACCOUNTANTS FOR
        THE FISCAL YEAR ENDING DECEMBER 31,
        2004.

-------------------------------------------------------------------------------------------------------
J.P. MORGAN CHASE & CO.                                                       Agenda: 932142211
     CUSIP: 46625H100                         Meeting Type: Annual
    Ticker: JPM                               Meeting Date: 5/25/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      MERGER PROPOSAL                                               Mgmt          For           For
02      HANS W. BECHERER                                              Mgmt          For           For

<PAGE>

02      FRANK A. BENNACK, JR.                                         Mgmt          For           For
        JOHN H. BIGGS                                                 Mgmt          For           For
        LAWRENCE A. BOSSIDY                                           Mgmt          For           For
        ELLEN V. FUTTER                                               Mgmt          For           For
        WILLIAM H. GRAY, III                                          Mgmt          For           For
        WILLIAM B. HARRISON, JR                                       Mgmt          For           For
        HELENE L. KAPLAN                                              Mgmt          For           For
        LEE R. RAYMOND                                                Mgmt          For           For
        JOHN R. STAFFORD                                              Mgmt          For           For
03      APPOINTMENT OF EXTERNAL AUDITOR                               Mgmt          For           For
04      RE-APPROVAL OF KEY EXECUTIVE                                  Mgmt        Against       Against
        PERFORMANCE PLAN
05      ADJOURNMENT OF MEETING, IF NECESSARY,                         Mgmt          For           For
        TO SOLICIT ADDITIONAL PROXIES
06      DIRECTOR TERM LIMIT                                            Shr        Against         For
07      CHARITABLE CONTRIBUTIONS                                       Shr        Against         For
08      POLITICAL CONTRIBUTIONS                                        Shr        Against         For
09      SEPARATION OF CHAIRMAN AND CEO                                 Shr        Against         For
10      DERIVATIVE DISCLOSURE                                          Shr        Against         For
11      AUDITOR INDEPENDENCE                                           Shr        Against         For
12      DIRECTOR COMPENSATION                                          Shr        Against         For
13      PAY DISPARITY                                                  Shr        Against         For

-------------------------------------------------------------------------------------------------------
KT CORPORATION                                                                Agenda: 932095157
     CUSIP: 48268K101                         Meeting Type: Annual
    Ticker: KTC                               Meeting Date: 3/12/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      APPROVAL OF BALANCE SHEET, INCOME                             Mgmt          For           For
        STATEMENT AND STATEMENT OF
        APPROPRIATION OF RETAINED EARNINGS
        FOR THE 22ND FISCAL YEAR, AS SET
        FORTH IN THE COMPANY S NOTICE OF
        MEETING ENCLOSED HEREWITH.
02      APPROVAL OF THE AMENDMENT OF ARTICLES                         Mgmt          For           For
        OF INCORPORATION, AS SET FORTH IN THE
        COMPANY S NOTICE OF MEETING ENCLOSED
        HEREWITH.
03      ELECTION OF MEMBERS OF THE AUDIT                              Mgmt          For           For
        COMMITTEE, AS SET FORTH IN THE
        COMPANY S NOTICE OF MEETING ENCLOSED
05      APPROVAL OF LIMIT ON REMUNERATION OF                          Mgmt          For           For
        DIRECTORS, AS SET FORTH IN THE
        COMPANY S NOTICE OF MEETING ENCLOSED

<PAGE>

06      APPROVAL OF AMENDMENT OF MANAGEMENT                           Mgmt          For           For
        CONTRACT, AS SET FORTH IN H THE
        COMPANY S NOTICE OF MEETING ENCLOSED
        HEREWITH.
4A      HI CHANG ROH (NOMINATED BY THE                                Mgmt          For
        PRESIDENT WITH CONSENT OF BOARD OF
        DIRECTORS)
4B      SUNG DEUK PARK (NOMINATED BY OUTSIDE                          Mgmt          For
        DIRECTOR RECOMMENDATION COMMITTEE)
4C      BYOUNG HOON LEE (SHAREHOLDER PROPOSAL                         Mgmt        Against
        - PRACTICALLY INITIATED BY LABOR
        UNION OF KT)

-------------------------------------------------------------------------------------------------------
KEYCORP                                                                       Agenda: 932125001
     CUSIP: 493267108                         Meeting Type: Annual
    Ticker: KEY                               Meeting Date: 5/13/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      ALEXANDER M. CUTLER                                           Mgmt          For           For
        DOUGLAS J. MCGREGOR                                           Mgmt          For           For
        EDUARDO R. MENASCE                                            Mgmt          For           For
        HENRY L. MEYER III                                            Mgmt          For           For
        PETER G. TEN EYCK, II                                         Mgmt          For           For
02      APPROVAL OF THE KEYCORP 2004 EQUITY                           Mgmt          For           For
        COMPENSATION PLAN.
03      APPROVAL OF THE KEYCORP ANNUAL                                Mgmt          For           For
        PERFORMANCE PLAN.
04      RATIFICATION OF THE APPOINTMENT OF                            Mgmt          For           For
        INDEPENDENT AUDITORS.

-------------------------------------------------------------------------------------------------------
KIMCO REALTY CORPORATION                                                      Agenda: 932124427
     CUSIP: 49446R109                         Meeting Type: Annual
    Ticker: KIM                               Meeting Date: 5/20/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      M. KIMMEL                                                     Mgmt          For           For
        M. COOPER                                                     Mgmt          For           For
        R. DOOLEY                                                     Mgmt          For           For
        M. FLYNN                                                      Mgmt          For           For
        J. GRILLS                                                     Mgmt          For           For
        D. HENRY                                                      Mgmt          For           For
        F.P. HUGHES                                                   Mgmt          For           For
        F. LOURENSO                                                   Mgmt          For           For
        R. SALTZMAN                                                   Mgmt          For           For

<PAGE>

02      TO APPROVE A RECOMMENDATION BY THE                            Mgmt          For           For
        BOARD OF DIRECTORS THAT THE COMPANY S
        EQUITY PARTICIPATION PLAN BE AMENDED
        SO THAT THE EXECUTIVE COMPENSATION
        COMMITTEE HAS THE AUTHORITY TO GRANT
        UP TO 15% OF THE SHARES OF COMMON
        STOCK AVAILABLE FOR FUTURE GRANT
        UNDER THE EQUITY PARTICIPATION PLAN
        AS GRANTS OF RESTRICTED SHARES OF
        COMMON STOCK.
03      TO CONSIDER A STOCKHOLDER PROPOSAL TO                          Shr        Against         For
        SEPARATE CHAIRMAN AND CHIEF
        EXECUTIVE OFFICER POSITIONS, IF
        PROPERLY PRESENTED AT THE MEETING.

-------------------------------------------------------------------------------------------------------
LINCOLN NATIONAL CORPORATION                                                  Agenda: 932130367
     CUSIP: 534187109                         Meeting Type: Annual
    Ticker: LNC                               Meeting Date: 5/13/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      WILLIAM J. AVERY                                              Mgmt          For           For
        JON A. BOSCIA                                                 Mgmt          For           For
        ERIC G. JOHNSON                                               Mgmt          For           For
        GLENN F. TILTON                                               Mgmt          For           For
02      TO APPROVE OR DISAPPROVE A DEFERRED                           Mgmt          For           For
        COMPENSATION PLAN FOR NON-EMPLOYEE
        DIRECTORS

-------------------------------------------------------------------------------------------------------
LYONDELL CHEMICAL COMPANY                                                     Agenda: 932115834
     CUSIP: 552078107                         Meeting Type: Annual
    Ticker: LYO                               Meeting Date: 5/6/2004            ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      CAROL A. ANDERSON                                             Mgmt          For           For
        WILLIAM T. BUTLER                                             Mgmt          For           For
        STEPHEN I. CHAZEN                                             Mgmt          For           For
        TRAVIS ENGEN                                                  Mgmt          For           For
        S.F. HINCHLIFFE, JR.                                          Mgmt          For           For
        DANNY W. HUFF                                                 Mgmt          For           For
        RAY R. IRANI                                                  Mgmt          For           For
        DAVID J. LESAR                                                Mgmt          For           For
        DUDLEY C. MECUM                                               Mgmt          For           For
        DAN F. SMITH                                                  Mgmt          For           For
        WILLIAM R. SPIVEY                                             Mgmt          For           For

<PAGE>

02      PROPOSAL TO RATIFY THE APPOINTMENT OF                         Mgmt          For           For
        PRICEWATERHOUSECOOPERS LLP,
        INDEPENDENT AUDITORS, AS THE
        COMPANY S AUDITORS FOR THE YEAR 2004.

-------------------------------------------------------------------------------------------------------
MAGUIRE PROPERTIES INC.                                                       Agenda: 932166552
     CUSIP: 559775101                         Meeting Type: Annual
    Ticker: MPG                               Meeting Date: 6/3/2004            ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      ROBERT F. MAGUIRE III                                         Mgmt          For           For
        RICHARD I. GILCHRIST                                          Mgmt          For           For
        LAWRENCE S. KAPLAN                                            Mgmt          For           For
        CAROLINE S. MCBRIDE                                           Mgmt          For           For
        ANDREA L. VAN DE KAMP                                         Mgmt          For           For
        WALTER L. WEISMAN                                             Mgmt          For           For
02      RATIFICATION OF THE SELECTION OF KPMG                         Mgmt          For           For
        LLP AS THE COMPANY S INDEPENDENT
        AUDITORS FOR THE YEAR ENDED DECEMBER
        31, 2004.

-------------------------------------------------------------------------------------------------------
MEADWESTVACO CORPORATION                                                      Agenda: 932102546
     CUSIP: 583334107                         Meeting Type: Annual
    Ticker: MWV                               Meeting Date: 4/27/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      WILLIAM E. HOGLUND                                            Mgmt          For           For
        DOUGLAS S. LUKE                                               Mgmt          For           For
        ROBERT C. MCCORMACK                                           Mgmt          For           For
        JANE L. WARNER                                                Mgmt          For           For
02      APPOINTMENT OF PRICEWATERHOUSECOOPERS                         Mgmt          For           For
        LLP AS INDEPENDENT AUDITORS FOR

-------------------------------------------------------------------------------------------------------
MERCURY GENERAL CORPORATION                                                   Agenda: 932134670
     CUSIP: 589400100                         Meeting Type: Annual
    Ticker: MCY                               Meeting Date: 5/12/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      GEORGE JOSEPH                                                 Mgmt          For           For
        CHARLES E. MCCLUNG                                            Mgmt          For           For
        DONALD R. SPUEHLER                                            Mgmt          For           For
        RICHARD E. GRAYSON                                            Mgmt          For           For
        DONALD P. NEWELL                                              Mgmt          For           For
        BRUCE A. BUNNER                                               Mgmt          For           For

<PAGE>

01      NATHAN BESSIN                                                 Mgmt          For           For
        MICHAEL D. CURTIUS                                            Mgmt          For           For
        GABRIEL TIRADOR                                               Mgmt          For           For

-------------------------------------------------------------------------------------------------------
NATIONWIDE HEALTH PROPERTIES, INC.                                            Agenda: 932110822
     CUSIP: 638620104                         Meeting Type: Annual
    Ticker: NHP                               Meeting Date: 4/16/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      DAVID R. BANKS                                                Mgmt          For           For
        DOUGLAS M. PASQUALE                                           Mgmt          For           For
        JACK D. SAMUELSON                                             Mgmt          For           For

-------------------------------------------------------------------------------------------------------
NISOURCE INC.                                                                 Agenda: 932124984
     CUSIP: 65473P105                         Meeting Type: Annual
    Ticker: NI                                Meeting Date: 5/11/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      STEVEN C. BEERING                                             Mgmt          For           For
        DENNIS E. FOSTER                                              Mgmt          For           For
        RICHARD L. THOMPSON                                           Mgmt          For           For
        CAROLYN Y. WOO                                                Mgmt          For           For
02      RATIFICATION OF INDEPENDENT PUBLIC                            Mgmt          For           For
        ACCOUNTANTS.

-------------------------------------------------------------------------------------------------------
NORTHEAST UTILITIES                                                           Agenda: 932132347
     CUSIP: 664397106                         Meeting Type: Annual
    Ticker: NU                                Meeting Date: 5/11/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      RICHARD H. BOOTH                                              Mgmt          For           For
        COTTON MATHER CLEVELAND                                       Mgmt          For           For
        SANFORD CLOUD, JR.                                            Mgmt          For           For
        JAMES F. CORDES                                               Mgmt          For           For
        E. GAIL DE PLANQUE                                            Mgmt          For           For
        JOHN H. FORSGREN                                              Mgmt          For           For
        JOHN G. GRAHAM                                                Mgmt          For           For
        ELIZABETH T. KENNAN                                           Mgmt          For           For
        ROBERT E. PATRICELLI                                          Mgmt          For           For
        CHARLES W. SHIVERY                                            Mgmt          For           For
        JOHN F. SWOPE                                                 Mgmt          For           For

<PAGE>

02      RATIFICATION OF DELOITTE & TOUCHE LLP                         Mgmt          For           For
        AS INDEPENDENT AUDITORS FOR 2004.

-------------------------------------------------------------------------------------------------------
PAN PACIFIC RETAIL PROPERTIES, INC.                                           Agenda: 932134202
     CUSIP: 69806L104                         Meeting Type: Annual
    Ticker: PNP                               Meeting Date: 5/6/2004            ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      DAVID P. ZIMEL                                                Mgmt          For           For
02      CHARTER AMENDMENT TO DECLASSIFY THE                           Mgmt          For           For
        BOARD OF DIRECTORS
03      CHARTER AMENDMENT TO INCREASE THE                             Mgmt          For           For
        OWNERSHIP LIMIT OF THE COMPANY S
        COMMON STOCK

-------------------------------------------------------------------------------------------------------
PINNACLE WEST CAPITAL CORPORATION                                             Agenda: 932121786
     CUSIP: 723484101                         Meeting Type: Annual
    Ticker: PNW                               Meeting Date: 5/19/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      ROY A. HERBERGER, JR.                                         Mgmt          For           For
        HUMBERTO S. LOPEZ                                             Mgmt          For           For
        KATHRYN L. MUNRO                                              Mgmt          For           For
        WILLIAM L. STEWART                                            Mgmt          For           For
02      RATIFICATION OF DELOITTE & TOUCHE LLP                         Mgmt          For           For
        AS THE COMPANY S INDEPENDENT AUDITOR
        FOR FISCAL YEAR ENDING DECEMBER 31,
        2004
03      VOTE ON SHAREHOLDER PROPOSAL                                   Shr        Against         For

-------------------------------------------------------------------------------------------------------
PROLOGIS                                                                      Agenda: 932107281
     CUSIP: 743410102                         Meeting Type: Annual
    Ticker: PLD                               Meeting Date: 5/18/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      STEPHEN L. FEINBERG                                           Mgmt          For           For
        DONALD P. JACOBS                                              Mgmt          For           For
        D. MICHAEL STEUERT                                            Mgmt          For           For
        J. ANDRE TEIXEIRA                                             Mgmt          For           For
02      APPROVAL OF AMENDED AND RESTATED 2000                         Mgmt          For           For
        SHARE OPTION PLAN FOR OUTSIDE
03      APPROVAL OF APPOINTMENT OF                                    Mgmt          For           For
        INDEPENDENT AUDITORS FOR 2004.

<PAGE>

-------------------------------------------------------------------------------------------------------
PUBLIC SERVICE ENTERPRISE GROUP INC.                                          Agenda: 932092163
     CUSIP: 744573106                         Meeting Type: Annual
    Ticker: PEG                               Meeting Date: 4/20/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      ALBERT R. GAMPER, JR.*                                        Mgmt          For           For
        ERNEST H. DREW**                                              Mgmt          For           For
        WILLIAM V. HICKEY**                                           Mgmt          For           For
        RICHARD J. SWIFT**                                            Mgmt          For           For
02      APPROVAL OF THE 2004 LONG-TERM                                Mgmt          For           For
        INCENTIVE PLAN.
03      RATIFICATION OF THE APPOINTMENT OF                            Mgmt          For           For
        DELOITTE & TOUCHE LLP AS INDEPENDENT
        AUDITOR FOR THE YEAR 2004.
04      STOCKHOLDER PROPOSAL RELATING TO THE                           Shr        Against         For
        NOMINATION OF AT LEAST TWO CANDIDATES
        FOR EACH OPEN BOARD POSITION.

-------------------------------------------------------------------------------------------------------
ROYAL BANK OF CANADA                                                          Agenda: 700451381
     CUSIP: 780087102                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 2/27/2004           ISIN: CA7800871021
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        Receive the financial statements of                           Non-
        the Bank for the YE 31 OCT 2003 and                          Voting
        the Auditors report on the
1.1     Elect Mr. W. Geoffrey Beattie as a                            Mgmt          For            *
        Director until the next AGM
1.10    Elect Mr. Gordon M. Nixon as a                                Mgmt          For            *
        Director until the next AGM
1.11    Elect Mr. David P. O Brien as a                               Mgmt          For            *
        Director until the next AGM
1.12    Elect Ms. Charlotte R. Otto as a                              Mgmt          For            *
        Director until the next AGM
1.13    Elect Mr. Robert B. Pterson as a                              Mgmt          For            *
        Director until the next AGM
1.14    Elect Mr. J. Pedro Reinhard as a                              Mgmt          For            *
        Director until the next AGM
1.15    Elect Mr. Cecil W. Sewell, Jr. as a                           Mgmt          For            *
        Director until the next AGM
1.16    Elect Ms. Kathleen P. Taylor as a                             Mgmt          For            *
        Director until the next AGM
1.17    Elect Mr. Victor L. Young as a                                Mgmt          For            *
        Director until the next AGM
1.2     Elect Mr. George A. Cohon as a                                Mgmt          For            *
        Director until the next AGM

<PAGE>

1.3     Elect Mr. Douglas T. Elix as a                                Mgmt          For            *
        Director until the next AGM
1.4     Elect Mr. John T. Ferguson as a                               Mgmt          For            *
        Director until the next AGM
1.5     Elect Mr. L. Yves Fortier as a                                Mgmt          For            *
        Director until the next AGM
1.6     Elect The Honorable Paule Gauthier as                         Mgmt          For            *
        a Director until the next AGM
1.7     Elect Mr. Jacques Lamarre as a                                Mgmt          For            *
        Director until the next AGM
1.8     Elect Mr. Brandt C. Louie as a                                Mgmt          For            *
        Director until the next AGM
1.9     Elect Mr. J. Edward Newall as a                               Mgmt          For            *
        Director until the next AGM
2.      Appoint Deloitte & Touche LLP as the                          Mgmt          For            *
        sole Auditors of the Bank until the
        next AGM
3.      PLEASE NOTE THAT THIS RESOLUTION IS A                          Shr        Against          *
        SHAREHOLDER PROPOSAL: Approve that
        the Corporation adopt a Bye-laws
        prohibiting the Chief Executive
        Officer CEO from serving on the
        Board of Directors of any other
        listed Corporation that is unrelated
4.      PLEASE NOTE THAT THIS RESOLUTION IS A                          Shr        Against          *
        SHAREHOLDER PROPOSAL: Approve that
        the Corporation disclose the total
        value of the pensions granted to each
        of the Principal Executive Officers
        and the associated annual costs and
        report any actuarial deficits
        associated with executive pension
5.      PLEASE NOTE THAT THIS RESOLUTION IS A                          Shr        Against          *
        SHAREHOLDER PROPOSAL: Approve that
        the Corporation adopt a Bye-laws to
        force its Executive Officers and any
        other person who is an insider to
        give 10 calendar days prior public
        notice of any transaction in the
        securities of the Corporation,
        including the exercise of stock

<PAGE>

6.      PLEASE NOTE THAT THIS RESOLUTION IS A                          Shr        Against          *
        SHAREHOLDER PROPOSAL: Approve that,
        where a shareholders raises a
        question at the AGM and a response is
        given right there and then, by either
        a Member of the Board of Directors or
        an Officer of the Bank or one of its
        subsidiaries, and where the
        shareholders subsequently sends a
        written request to the Board Members
        or Officer concerned asking for this
        response to be put in writing, the
        Board Members or Officer shall
        respond himself or herself in writing
        to the request and that his or her
        written response faithfully reflect
        what he or she said at the meeting,
        in the same simple, easily

-------------------------------------------------------------------------------------------------------
ROYAL DUTCH PETROLEUM COMPANY                                                 Agenda: 932190060
     CUSIP: 780257804                         Meeting Type: Annual
    Ticker: RD                                Meeting Date: 6/28/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
03      APPOINTMENT OF MS. L.Z. COOK AS A                             Mgmt          For           For
        MANAGING DIRECTOR OF THE COMPANY.*
04      APPOINTMENT OF MRS. CH. MORIN-POSTEL                          Mgmt          For           For
        AS A MEMBER OF THE SUPERVISORY
05      APPOINTMENT OF MR. M.A. VAN DEN BERGH                         Mgmt          For           For
        AS A MEMBER OF THE SUPERVISORY BOARD
        OWING TO RETIREMENT BY ROTATION.*
06      REDUCTION OF THE ISSUED SHARE CAPITAL                         Mgmt          For           For
        WITH A VIEW TO CANCELLA TION OF THE
        SHARES ACQUIRED BY THE COMPANY IN ITS
        OWN CAPITAL.
07      AUTHORIZATION OF THE BOARD OF                                 Mgmt          For           For
        MANAGEMENT, PURSUANT TO ARTICLE 98,
        BOOK 2 OF THE NETHERLANDS CIVIL CODE,
        AS THE COMPETENT BODY TO ACQUIRE
        SHARES IN THE CAPITAL OF THE COMPANY.
2A      FINALIZATION OF THE BALANCE SHEET AS                          Mgmt          For           For
        AT DECEMBER 31, 2003, THE PROFIT AND
        LOSS ACCOUNT FOR THE YEAR 2003 AND
        THE NOTES TO THE BALANCE SHEET AND
        THE PROFIT AND LOSS ACCOUNT.
2B      DECLARATION OF THE TOTAL DIVIDEND FOR                         Mgmt          For           For
        THE YEAR 2003.
2C      DISCHARGE OF THE MANAGING DIRECTORS                           Mgmt          For           For
        OF RESPONSIBILITY IN RESPECT OF THEIR
        MANAGEMENT FOR THE YEAR 2003.

<PAGE>

2D      DISCHARGE OF THE MEMBERS OF THE                               Mgmt          For           For
        SUPERVISORY BOARD OF RESPONSIBILITY
        FOR THEIR SUPERVISION FOR THE YEAR
        2003.

-------------------------------------------------------------------------------------------------------
SBC COMMUNICATIONS INC.                                                       Agenda: 932103536
     CUSIP: 78387G103                         Meeting Type: Annual
    Ticker: SBC                               Meeting Date: 4/30/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      JAMES E. BARNES                                               Mgmt          For           For
        JAMES A. HENDERSON                                            Mgmt          For           For
        JOHN B. MCCOY                                                 Mgmt          For           For
        S. DONLEY RITCHEY                                             Mgmt          For           For
        JOYCE M. ROCHE                                                Mgmt          For           For
        PATRICIA P. UPTON                                             Mgmt          For           For
02      APPOINTMENT OF INDEPENDENT AUDITORS.                          Mgmt          For           For
03      APPROVE AN AMENDMENT TO SBC S BYLAWS.                         Mgmt          For           For
04      STOCKHOLDER PROPOSAL A.                                        Shr        Against         For
05      STOCKHOLDER PROPOSAL B.                                        Shr        Against         For

-------------------------------------------------------------------------------------------------------
THE ST. PAUL TRAVELERS COMPANIES, IN                                          Agenda: 932096224
     CUSIP: 792860108                         Meeting Type: Special
    Ticker: STA                               Meeting Date: 3/19/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      TO ACT ON THE PROPOSAL TO ISSUE                               Mgmt          For           For
        SHARES OF ST. PAUL S COMMON STOCK IN
        CONNECTION WITH THE TRANSACTION
        CONTEMPLATED BY THE AGREEMENT AND
        PLAN OF MERGER DATED AS OF NOVEMBER
        16, 2003, AS AMENDED, AMONG ST. PAUL,
        TRAVELERS PROPERTY CASUALTY CORP.
        AND A SUBSIDIARY OF ST. PAUL.
02      TO ACT ON THE PROPOSAL TO AMEND ST.                           Mgmt          For           For
        PAUL S BYLAWS IN CONNECTION WITH THE
        TRANSACTION, AS DESCRIBED IN THE
        ACCOMPANYING JOINT PROXY
        STATEMENT/PROSPECTUS.
03      TO ACT ON THE PROPOSAL TO AMEND ST.                           Mgmt          For           For
        PAUL S ARTICLES OF INCORPORATION IN
        CONNECTION WITH THE TRANSACTION, AS
        DESCRIBED IN THE ACCOMPANYING JOINT
        PROXY STATEMENT/PROSPECTUS.

<PAGE>

04      TO ACT ON THE PROPOSAL TO AMEND ST.                           Mgmt          For           For
        PAUL S ARTICLES OF INCORPORATION TO
        REDUCE THE SHAREHOLDER APPROVAL
        REQUIRED FOR CERTAIN FUTURE
        FUNDAMENTAL ACTIONS, AS DESCRIBED IN
        THE ACCOMPANYING JOINT PROXY
        STATEMENT/PROSPECTUS.

-------------------------------------------------------------------------------------------------------
SARA LEE CORPORATION                                                          Agenda: 932047699
     CUSIP: 803111103                         Meeting Type: Annual
    Ticker: SLE                               Meeting Date: 10/30/2003          ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      J.T. BATTENBERG III                                           Mgmt          For           For
        C. COKER                                                      Mgmt          For           For
        J. CROWN                                                      Mgmt          For           For
        W. DAVIS                                                      Mgmt          For           For
        V. JORDAN, JR.                                                Mgmt          For           For
        L. KOELLNER                                                   Mgmt          For           For
        C. VAN LEDE                                                   Mgmt          For           For
        J. MANLEY                                                     Mgmt          For           For
        CARY D. MCMILLAN                                              Mgmt          For           For
        C. STEVEN MCMILLAN                                            Mgmt          For           For
        R. RIDGWAY                                                    Mgmt          For           For
        R. THOMAS                                                     Mgmt          For           For
02      RATIFICATION OF THE APPOINTMENT OF                            Mgmt          For           For
        PRICEWATERHOUSECOOPERS LLP AS SARA
        LEE S INDEPENDENT ACCOUNTANTS FOR
        FISCAL 2004.
03      TO VOTE ON A STOCKHOLDER PROPOSAL                              Shr        Against         For
        REGARDING CHARITABLE CONTRIBUTIONS.
04      TO VOTE ON A STOCKHOLDER PROPOSAL                              Shr        Against         For
        REGARDING SARA LEE S CODE OF CONDUCT.

-------------------------------------------------------------------------------------------------------
SCHERING-PLOUGH CORPORATION                                                   Agenda: 932109970
     CUSIP: 806605101                         Meeting Type: Annual
    Ticker: SGP                               Meeting Date: 4/27/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      FRED HASSAN                                                   Mgmt          For           For
        PHILIP LEDER, M.D.                                            Mgmt          For           For
        EUGENE R. MCGRATH                                             Mgmt          For           For
        RICHARD DE J. OSBORNE                                         Mgmt          For           For
02      RATIFICATION OF DESIGNATION OF                                Mgmt          For           For
        INDEPENDENT AUDITORS

<PAGE>

03      APPROVAL OF THE OPERATIONS MANAGEMENT                         Mgmt          For           For
        TEAM INCENTIVE PLAN

-------------------------------------------------------------------------------------------------------
THE SERVICEMASTER COMPANY                                                     Agenda: 932126899
     CUSIP: 81760N109                         Meeting Type: Annual
    Ticker: SVM                               Meeting Date: 4/30/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      LORD GRIFFITHS                                                Mgmt          For           For
        SIDNEY E. HARRIS                                              Mgmt          For           For
        JAMES D. MCLENNAN                                             Mgmt          For           For
02      APPROVE THE SERVICEMASTER 2004                                Mgmt          For           For
        EMPLOYEE STOCK PURCHASE PLAN.
03      RATIFY THE APPOINTMENT OF DELOITTE &                          Mgmt          For           For
        TOUCHE LLP AS INDEPENDENT AUDITORS.
04      SHAREHOLDER PROPOSAL REGARDING THE                             Shr          For         Against
        RIGHTS AGREEMENT.

-------------------------------------------------------------------------------------------------------
SHELL TRANSPORT & TRADING CO PLC                                              Agenda: 700533866
     CUSIP: 822703104                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 6/28/2004           ISIN: GB0008034141
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the report of the Directors                           Mgmt          For            *
        and the accounts of the Company for
        the YE 31 DEC 2003
2.      Approve the remuneration report for                           Mgmt          For            *
        the YE 31 DEC 2003, accounts 2003 and
        the summarized in the summary annual
        report and the accounts 2003
3.      Elect Mr. Malcolm Brinded as a                                Mgmt          For            *
4.      Re-elect Dr. Eileen Buttle as a                               Mgmt          For            *
        Director
5.      Re-elect Mr. Luis Giusti as a                                 Mgmt          For            *
6.      Re-elect Miss. Mary (Nina) Henderson                          Mgmt          For            *
        as a Director
7.      Re-elect Mr. Lord Oxbourgh as a                               Mgmt          For            *
        Director
8.      Reappoint PricewaterhouseCoopers LLP                          Mgmt          For            *
        as the Auditors of the Company
9.      Authorize the Board to settle the                             Mgmt          For            *
        remuneration of the Auditors for 2004

<PAGE>

S.10    Authorize the Company to make market                          Mgmt          For            *
        purchases Section 163 of up to
        483,000,000 ordinary shares of 25p
        each in the capital of the Company,
        at a minimum price of 25p per share
        and up to 105% of the average middle
        market quotations for such shares
        derived from the London Stock
        Exchange Daily Official List, over
        the previous 5 business days;
        Authority expires the earlier of the
        conclusion of the next AGM 2005 of
        the Company or 31 JUL 2005 ; the
        Company, before the expiry, may make
        a contract to purchase ordinary
        shares which will or may be executed
        wholly or partly after such expiry

-------------------------------------------------------------------------------------------------------
SHELL TRANSPORT & TRADING COMPANY, P                                          Agenda: 932196771
     CUSIP: 822703609                         Meeting Type: Annual
    Ticker: SC                                Meeting Date: 6/28/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
O1      THAT THE REPORT OF THE DIRECTORS AND                          Mgmt          For           For
        THE ACCOUNTS OF THE COMPANY FOR THE
        YEAR ENDED DECEMBER 31, 2003 BE
        ADOPTED.
O2      THAT THE REMUNERATION REPORT FOR THE                          Mgmt          For           For
        YEAR ENDED DECEMBER 31, 2003 SET OUT
        IN THE ANNUAL REPORT AND ACCOUNTS
        2003 AND SUMMARISED IN THE SUMMARY
        ANNUAL REPORT AND ACCOUNTS 2003 BE
O3      THAT MALCOLM BRINDED BE ELECTED AS A                          Mgmt          For           For
        DIRECTOR.
O4      THAT DR EILEEN BUTTLE BE RE-ELECTED                           Mgmt          For           For
        AS A DIRECTOR.
O5      THAT LUIS GIUSTI BE RE-ELECTED AS A                           Mgmt          For           For
        DIRECTOR.
O6      THAT MARY (NINA) HENDERSON BE RE-                             Mgmt          For           For
        ELECTED AS A DIRECTOR.
O7      THAT LORD OXBURGH BE RE-ELECTED AS A                          Mgmt          For           For
        DIRECTOR.
O8      THAT PRICEWATERHOUSECOOPERS LLP BE                            Mgmt          For           For
        RE-APPOINTED AS AUDITORS OF THE
O9      THAT THE BOARD BE AUTHORISED TO                               Mgmt          For           For
        SETTLE THE REMUNERATION OF THE
        AUDITORS FOR 2004.

<PAGE>

S10     THAT THE COMPANY BE AUTHORISED TO                             Mgmt          For           For
        MAKE MARKET PURCHASES (AS DEFINED IN
        SECTION 163 OF THE COMPANIES ACT
        1985) OF UP TO 483,000,000 ORDINARY
        SHARES OF 25P PER SHARE IN THE
        CAPITAL OF THE COMPANY.

-------------------------------------------------------------------------------------------------------
THE SOUTHERN COMPANY                                                          Agenda: 932148857
     CUSIP: 842587107                         Meeting Type: Annual
    Ticker: SO                                Meeting Date: 5/26/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      D.P. AMOS                                                     Mgmt          For           For
        D.J. BERN                                                     Mgmt          For           For
        F.S. BLAKE                                                    Mgmt          For           For
        T.F. CHAPMAN                                                  Mgmt          For           For
        H.A. FRANKLIN                                                 Mgmt          For           For
        B.S. GORDON                                                   Mgmt          For           For
        D.M. JAMES                                                    Mgmt          For           For
        Z.T. PATE                                                     Mgmt          For           For
        J.N. PURCELL                                                  Mgmt          For           For
        D.M. RATCLIFFE                                                Mgmt          For           For
        G.J. ST. PE                                                   Mgmt          For           For
02      RATIFICATION OF THE APPOINTMENT OF                            Mgmt          For           For
        DELOITTE & TOUCHE AS INDEPENDENT
        AUDITORS FOR 2004
03      APPROVAL OF OUTSIDE DIRECTORS STOCK                           Mgmt          For           For
        PLAN

-------------------------------------------------------------------------------------------------------
THE STANLEY WORKS                                                             Agenda: 932123603
     CUSIP: 854616109                         Meeting Type: Annual
    Ticker: SWK                               Meeting Date: 4/23/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      JOHN G. BREEN                                                 Mgmt          For           For
        VIRGIS W. COLBERT                                             Mgmt          For           For
        JOHN F. LUNDGREN                                              Mgmt          For           For
02      TO APPROVE ERNST & YOUNG LLP AS                               Mgmt          For           For
        INDEPENDENT AUDITORS FOR THE YEAR
03      TO VOTE ON A SHAREHOLDER PROPOSAL                              Shr          For         Against
        URGING THAT THE BOARD OF DIRECTORS
        TAKE THE NECESSARY STEPS TO REQUIRE
        THAT ALL MEMBERS OF THE BOARD OF
        DIRECTORS BE ELECTED ANNUALLY.

<PAGE>

-------------------------------------------------------------------------------------------------------
TOTAL S.A.                                                                    Agenda: 932143580
     CUSIP: 89151E109                         Meeting Type: Annual
    Ticker: TOT                               Meeting Date: 5/14/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      APPROVAL OF CERTAIN REPORTS AND OF                            Mgmt          For           For
        THE PARENT COMPANY S FINANCIAL
02      APPROVAL OF CONSOLIDATED FINANCIAL                            Mgmt          For           For
        STATEMENTS
03      ALLOCATION OF INCOME, APPROVAL OF THE                         Mgmt          For           For
        DIVIDEND
04      AGREEMENTS MENTIONED IN ARTICLE L.                            Mgmt          For           For
        225-38 OF THE FRENCH COMMERCIAL CODE
05      AUTHORIZATION TO TRADE THE COMPANY S                          Mgmt          For           For
        OWN SHARES
06      AUTHORIZATION FOR THE BOARD OF                                Mgmt          For           For
        DIRECTORS TO ISSUE DEBT SECURITIES
        AND/OR PERPETUAL SUBORDINATED NOTES
        FOR A MAXIMUM NOMINAL AMOUNT OF 10
        BILLION EUROS
07      MR. THIERRY DESMAREST                                         Mgmt          For           For
        MR. THIERRY DE RUDDER                                         Mgmt          For           For
        MR. SERGE TCHURUK                                             Mgmt          For           For
10      APPOINTMENT OF DANIEL BOEUF AS A                              Mgmt          For           For
        DIRECTOR REPRESENTING EMPLOYEE
        SHAREHOLDERS IN APPLICATION OF
        ARTICLE 11 OF THE ARTICLES OF
11      APPOINTMENT OF PHILIPPE MARCHANDISE                           Mgmt        Against         For
        AS A DIRECTOR REPRESENTING EMPLOYEE
        SHAREHOLDERS IN APPLICATION OF
        ARTICLE 11 OF THE ARTICLES OF
12      APPOINTMENT OF CYRIL MOUCHE AS A                              Mgmt        Against         For
        DIRECTOR REPRESENTING EMPLOYEE
        SHAREHOLDERS IN APPLICATION OF
        ARTICLE 11 OF THE ARTICLES OF
13      APPOINTMENT OF ALAN CRAMER AS A                               Mgmt        Against         For
        DIRECTOR REPRESENTING EMPLOYEE
        SHAREHOLDERS IN APPLICATION OF
        ARTICLE 11 OF THE ARTICLES OF
14      APPOINTMENT OF STATUTORY AUDITORS                             Mgmt          For           For
15      RENEWAL OF STATUTORY AUDITORS                                 Mgmt          For           For
16      APPOINTMENT OF AN ALTERNATE AUDITOR                           Mgmt          For           For
17      APPOINTMENT OF AN ALTERNATE AUDITOR                           Mgmt          For           For
18      DETERMINATION OF THE TOTAL AMOUNT OF                          Mgmt          For           For
        DIRECTORS COMPENSATION

<PAGE>

19      AUTHORIZATION TO AWARD OPTIONS TO                             Mgmt          For           For
        SUBSCRIBE FOR OR PURCHASE STOCK OF
        THE COMPANY IN FAVOUR OF THE
        MANAGEMENT AND KEY EMPLOYEES OF THE
20      AUTHORIZATION FOR ISSUING CONVERTIBLE                         Mgmt          For           For
        OR OTHER EQUITY SECURITIES
21      AUTHORIZATION TO USE THE ABOVE                                Mgmt          For           For
        DELEGATION WITHOUT MAINTENANCE OF
        PREFERENTIAL SUBSCRIPTION RIGHTS, BUT
        WITH AN OPTION TO GRANT A PRIORITY
        PERIOD
22      CAPITAL INCREASE RESERVED FOR                                 Mgmt          For           For

-------------------------------------------------------------------------------------------------------
UST INC.                                                                      Agenda: 932120671
     CUSIP: 902911106                         Meeting Type: Annual
    Ticker: UST                               Meeting Date: 5/4/2004            ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      J.P. CLANCEY                                                  Mgmt          For           For
        V.A. GIERER, JR.                                              Mgmt          For           For
        J.E. HEID                                                     Mgmt          For           For
02      TO RATIFY AND APPROVE ERNST & YOUNG                           Mgmt          For           For
        LLP AS INDEPENDENT AUDITORS OF THE
        COMPANY FOR THE YEAR 2004.
03      STOCKHOLDER PROPOSAL                                          Mgmt          For
04      STOCKHOLDER PROPOSAL                                           Shr        Against         For

-------------------------------------------------------------------------------------------------------
U.S. BANCORP                                                                  Agenda: 932099814
     CUSIP: 902973304                         Meeting Type: Annual
    Ticker: USB                               Meeting Date: 4/20/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      V. BUYNISKI GLUCKMAN                                          Mgmt          For           For
        ARTHUR D. COLLINS, JR.                                        Mgmt          For           For
        JERRY W. LEVIN                                                Mgmt          For           For
        THOMAS E. PETRY                                               Mgmt          For           For
        RICHARD G. REITEN                                             Mgmt          For           For
02      RATIFY SELECTION OF ERNST & YOUNG LLP                         Mgmt          For           For
        AS INDEPENDENT AUDITORS FOR THE 2004
        FISCAL YEAR.
03      SHAREHOLDER PROPOSAL: COMPENSATION                             Shr        Against         For
        SYSTEM FOR SENIOR EXECUTIVES.
04      SHAREHOLDER PROPOSAL: SUPPLEMENTAL                             Shr        Against         For
        EXECUTIVE RETIREMENT BENEFITS.
05      SHAREHOLDER PROPOSAL: SIMPLE MAJORITY                          Shr          For         Against
        VOTING.

<PAGE>

-------------------------------------------------------------------------------------------------------
UNITED BANKSHARES, INC.                                                       Agenda: 932134923
     CUSIP: 909907107                         Meeting Type: Annual
    Ticker: UBSI                              Meeting Date: 5/17/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      RICHARD M. ADAMS                                              Mgmt          For           For
        ROBERT G. ASTORG                                              Mgmt          For           For
        THOMAS J. BLAIR, III                                          Mgmt          For           For
        HARRY L. BUCH                                                 Mgmt          For           For
        W. GASTON CAPERTON, III                                       Mgmt          For           For
        LAWRENCE K. DOLL                                              Mgmt          For           For
        H. SMOOT FAHLGREN                                             Mgmt          For           For
        THEODORE J. GEORGELAS                                         Mgmt          For           For
        F.T. GRAFF, JR.                                               Mgmt          For           For
        RUSSELL L. ISAACS                                             Mgmt          For           For
        JOHN M. MCMAHON                                               Mgmt          For           For
        J. PAUL MCNAMARA                                              Mgmt          For           For
        G. OGDEN NUTTING                                              Mgmt          For           For
        WILLIAM C. PITT, III                                          Mgmt          For           For
        I. N. SMITH, JR.                                              Mgmt          For           For
        JAMES G. TARDIFF                                              Mgmt          For           For
        MARY K. WEDDLE                                                Mgmt          For           For
        P. CLINTON WINTER, JR.                                        Mgmt          For           For
02      TO TRANSACT OTHER BUSINESS THAT MAY                           Mgmt          For           For
        PROPERLY COME BEFORE THE MEETING.

-------------------------------------------------------------------------------------------------------
VERIZON COMMUNICATIONS INC.                                                   Agenda: 932105631
     CUSIP: 92343V104                         Meeting Type: Annual
    Ticker: VZ                                Meeting Date: 4/28/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      J.R. BARKER                                                   Mgmt          For           For
        R.L. CARRION                                                  Mgmt          For           For
        R.W. LANE                                                     Mgmt          For           For
        S.O. MOOSE                                                    Mgmt          For           For
        J. NEUBAUER                                                   Mgmt          For           For
        T.H. O'BRIEN                                                  Mgmt          For           For
        H.B. PRICE                                                    Mgmt          For           For
        I.G. SEIDENBERG                                               Mgmt          For           For
        W.V. SHIPLEY                                                  Mgmt          For           For
        J.R. STAFFORD                                                 Mgmt          For           For

<PAGE>

01      R.D. STOREY                                                   Mgmt          For           For
02      RATIFICATION OF INDEPENDENT AUDITOR                           Mgmt          For           For
03      CUMULATIVE VOTING                                              Shr          For         Against
04      BOARD COMPOSITION                                              Shr        Against         For
05      SEPARATE CHAIRMAN AND CEO                                      Shr        Against         For
06      FUTURE POISON PILL                                             Shr          For         Against
07      SUPPLEMENTAL EXECUTIVE RETIREMENT                              Shr        Against         For
08      OPTIONS OR STOCK GRANTS BASED ON                              Mgmt        Against         For
        TRACKING STOCK
09      DIVERSITY REPORT ON OPTION GRANTS TO                          Mgmt        Against         For
        EMPLOYEES
10      REPORT ON POLITICAL CONTRIBUTIONS                              Shr        Against         For
11      COLLECTION OF UNIVERSAL SERVICE AND                            Shr        Against         For
        NUMBER PORTABILIY FEES

-------------------------------------------------------------------------------------------------------
VODAFONE GROUP PLC                                                            Agenda: 932018953
     CUSIP: 92857W100                         Meeting Type: Annual
    Ticker: VOD                               Meeting Date: 7/30/2003           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      TO RECEIVE THE REPORT OF THE                                  Mgmt          For           For
        DIRECTORS AND FINANCIAL STATEMENTS
02      TO APPROVE THE REMUNERATION REPORT                            Mgmt          For           For
03      TO RE-APPOINT LORD MACLAURIN OF                               Mgmt          For           For
        KNEBWORTH, DL AS A DIRECTOR
04      TO RE-APPOINT KENNETH HYDON AS A                              Mgmt          For           For
        DIRECTOR
05      TO RE-APPOINT THOMAS GEITNER AS A                             Mgmt          For           For
        DIRECTOR
06      TO RE-APPOINT PROFESSOR SIR ALEC                              Mgmt          For           For
        BROERS AS A DIRECTOR
07      TO RE-APPOINT JURGEN SCHREMPP AS A                            Mgmt          For           For
        DIRECTOR
08      TO ELECT DR. JOHN BUCHANAN AS A                               Mgmt          For           For
        DIRECTOR
09      TO APPROVE A FINAL DIVIDEND OF 0.8983                         Mgmt          For           For
        PER ORDINARY SHARE
10      TO RE-APPOINT DELOITTE & TOUCHE AS                            Mgmt          For           For
        AUDITORS
11      TO AUTHORIZE THE AUDIT COMMITTEE TO                           Mgmt          For           For
        DETERMINE THE AUDITORS REMUNERATION
12      TO AUTHORIZE DONATIONS AND                                    Mgmt          For           For
        EXPENDITURE UNDER THE POLITICAL
        PARTIES, ELECTIONS AND REFERENDUMS
13      TO RENEW AUTHORITY TO ALLOT SHARES                            Mgmt        Against       Against
        UNDER ARTICLE 16.2 OF THE COMPANY S
        ARTICLES OF ASSOCIATION

<PAGE>

14      TO RENEW AUTHORITY TO DISAPPLY PRE-                           Mgmt        Against       Against
        EMPTION RIGHTS UNDER ARTICLE 16.3 OF
        THE COMPANY S ARTICLES OF ASSOCIATION
15      TO AUTHORIZE THE COMPANY S PURCHASE                           Mgmt          For           For
        OF ITS OWN SHARES *NOTE - VOTING CUT-
        OFF DATE: JULY 23, 2003

-------------------------------------------------------------------------------------------------------
VOLVO AB                                                                      Agenda: 700472664
     CUSIP: 928856301                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/16/2004           ISIN: SE0000115446
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        IMPORTANT MARKET PROCESSING                                   Non-
        REQUIREMENT: A BENEFICIAL OWNER                              Voting
        SIGNED POWER OF ATTORNEY (POA) IS
        REQUIRED IN ORDER TO LODGE AND
        EXECUTE YOUR VOTING INSTRUCTIONS IN
        THIS MARKET. ABSENCE OF A POA, MAY
        CAUSE YOUR INSTRUCTIONS TO BE
        REJECTED. SHOULD YOU HAVE ANY
        QUESTIONS, PLEASE CONTACT YOUR CLIENT
        SERVICE REPRESENTATIVE AT ADP. THANK
A.      Adopt the income statement and                                Mgmt          For            *
        balance sheet and the consolidated
        income statement and consolidated
        balance sheet
B.      Approve the disposition of the                                Mgmt          For            *
        Company s profit as follows: a
        dividend of SEK 8.00 per share shall
        be paid in cash; in addition
        27,060,958 shares in the subsidiary
        Ainax AB shall be distributed to the
        shareholders for record date 01 JUN
        2004 for the dividend and the Ainax
        shares; payment of the cash dividend
        is expected to occur through VPC AB
        (Swedish Securities Register Center)
        in mid June, 2004
C.      Grant discharge to the Board of                               Mgmt        Against          *
        Directors and the President from
        liability
D.      Approve to determine the number of                            Mgmt          For            *
        Board Members be set at nine with no
        Deputy Members
E.      Approve the remuneration to the Board                         Mgmt          For            *
        of Directors at SEK 4,800,000 for
        distribution among Members in
        accordance with the decision of the
        Board
F.1     Re-elect Mr. Per-Olof Eriksson as a                           Mgmt          For            *
        Director
F.2     Re-elect Mr. Patrick Faure as a                               Mgmt          For            *
        Director

<PAGE>

F.3     Re-elect Mr. Haruko Fukuda as a                               Mgmt          For            *
        Director
F.4     Re-elect Mr. Tom Hedelius as a                                Mgmt          For            *
F.5     Re-elect Mr. Leif Johansson as a                              Mgmt          For            *
        Director
F.6     Re-elect Mr. Finn Johnsson as a                               Mgmt          For            *
        Director
F.7     Re-elect Mr. Neelie Kroes as a                                Mgmt          For            *
F.8     Re-elect Ms. Louis Schweitzer as a                            Mgmt          For            *
        Director
F.9     Elect Mr. Ken Whipple as a Director                           Mgmt          For            *
G.      Authorize the Board Chairman to                               Mgmt        Against          *
        appoint three Members from among the
        representatives of the Company s
        three principal owners, in terms of
        voting rights, and who are not
        Members of the Company s Board of
        Directors, plus one Member
        representing the minor shareholders
        in the Company, all of whom jointly
        with the Chairman shall constitute
        the Nomination Committee for the
        period up to the next AGM; the
        composition of the Committee shall be
        announced in advance of the election
        of the Members of the Board in 2005
        and in conjunction with the
        publication of the Company s report
        on operations for the third quarter
        of 2004; and approve that no fees
H.      Authorize the Board of Directors to                           Mgmt          For            *
        decide on the purchase and transfer
        of own shares and acquire a maximum
        of 10% of the total number of shares
        through trading on a stock exchange
        or another regulated market in which
        the Company s shares are listed; for
        the purpose of financing Company
        acquisitions, transfer of shares held
        by the Company may occur through an
        offering directed to all
        shareholders; payment for transferred
        shares shall be made in cash

<PAGE>

I.      Approve that the Company s holding of                         Mgmt          For            *
        repurchased shares (treasury stock)
        may be used by the Company to fulfill
        its commitments undertaken in the
        Company s Employee Stock Option
        Program for 2002 Program ; provided
        that a maximum of 1,240,000 Series B
        shares may be transferred;
        preferential rights to acquire the
        shares shall accrue to those persons
        option-holders who are entitled to
        acquire shares in accordance with the
        Program, with rights for each
        option-holder to acquire the maximum
        number of shares as specified in the
        terms and conditions of the program;
        the preferential rights of the
        option-holders to acquire shares must
        be exercised during the period that
        the option-holder has rights to
        acquire shares in accordance with the
        Program, that is, during the period
        02 MAY 2006 01 MAY
        2008; option-holders shall pay for
        the shares in the manner and within
        the time stated in the terms and
        conditions for the Program; option-
        holders shall pay SEK 163 per share;
        transfer of shares may occur on one
        or more occasions; the number of
        shares and the price may be subject
        to adjustment in accordance with the
        terms and conditions for the Program
        as a result of a bonus issue,
        consolidation or split of shares,
        preferential issue, reduction of
        share capital and similar measures

<PAGE>

J.      Approve the implementation of a new                           Mgmt          For            *
        share-based incentive program in the
        second quarter of 2004 the Program
        for Senior Executives in the Volvo
        Group, including Members of the Group
        Executive Committee and other
        Executives that the Board selects
        Participants ; approve that a total
        maximum 110,000 Series B shares may
        be allotted to a maximum of 165
        Senior Executives during the second
        quarter of 2005; the number of shares
        that may be allotted shall be related
        to the degree of fulfillment of
        certain financial goals for the 2004
        financial year as determined by the
        Board; preferential rights to acquire
        shares will accrue to the
        Participants; the President Mr. Leif
        Johansson may receive a maximum of
        4,000 shares while the other
        participants may receive a maximum of
        500 2,000 shares; approve that
        Participants who are not residing in
        Sweden at the time of allotment
        shall, instead of shares, receive an
        amount in cash that corresponds to
        the market value of the shares at the
        time of allotment; Participants shall
        not make any payments for their
        rights in accordance with the
        Program; shares that shall be
        allotted under the Program shall be
        existing shares; the Company shall be
        able to fulfill its commitments to
        transfer shares under the Program
        either through a third party, who
        acquires and transfers the shares in
        its own name, or assuming that the
        meeting so decides, in accordance
        with Resolution K through transfer of
        treasury stock held by the Company;
        Participant s right to receive shares
        or cash shall, with certain
        exceptions, depend on the Participant
        being employed within the Volvo Group
        at the time of allotment; shares may
        be transferred on one or more
        occasions; the Board may determine
        additional terms and conditions for
        the Program; conditional upon the
        maximum number of shares (110,000)
        being allotted and that the Company
        transfers shares through a third
        party, the costs for the Program will
        amount to about SEK 35 m, including
        social fees, based on an allotment
        price of SEK 243

<PAGE>

K.      Approve that the Company may transfer                         Mgmt          For            *
        treasury stock held by the Company to
        the Participants Senior Executives in
        the Volvo Group, including Members of
        the Group Executive Committee and
        other Executives that the Board
        selects to fulfill the Company s
        undertaking in accordance with the
        Program new share-based incentive
        program and approve that a total of a
        maximum of 110,000 Series B shares
        can be transferred; preferential
        rights to acquire shares shall accrue
        to the Participants who are entitled
        to acquire shares in accordance with
        the terms and conditions of the
        Program; the Participants
        preferential right to acquire shares
        shall be exercised during the second
        quarter of 2005; the Participants
        shall not make any payment for the
        shares acquired under the Program;
        the transfer of shares
L.      Approve to change the Articles of                             Mgmt        Against          *
        Association so that holders of Series
        A shares are permitted to convert
        Series A shares to Series B shares on
        a one-for-one basis

-------------------------------------------------------------------------------------------------------
WD-40 COMPANY                                                                 Agenda: 932054721
     CUSIP: 929236107                         Meeting Type: Annual
    Ticker: WDFC                              Meeting Date: 12/16/2003          ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      JOHN C. ADAMS JR.                                             Mgmt          For           For
        MARIO L. CRIVELLO                                             Mgmt          For           For
        DANIEL W. DERBES                                              Mgmt          For           For
        GARY L. LUICK                                                 Mgmt          For           For
        KENNETH E. OLSON                                              Mgmt          For           For
        GARRY O. RIDGE                                                Mgmt          For           For
        GERALD C. SCHLEIF                                             Mgmt          For           For
        NEAL E. SCHMALE                                               Mgmt          For           For
        EDWARD J. WALSH                                               Mgmt          For           For
        GILES BATEMAN                                                 Mgmt          For           For
        RICHARD COLLATO                                               Mgmt          For           For
02      TO APPROVE AN AMENDMENT TO THE WD-40                          Mgmt          For           For
        COMPANY 1990 INCENTIVE STOCK OPTION
        PLAN.
03      TO APPROVE THE WD-40 COMPANY 1999                             Mgmt          For           For
        NON-EMPLOYEE DIRECTOR RESTRICTED
        STOCK PLAN.

<PAGE>

04      TO RATIFY THE SELECTION OF                                    Mgmt          For           For
        PRICEWATERHOUSECOOPERS LLP AS THE
        COMPANY S INDEPENDENT ACCOUNTANTS FOR
        FISCAL YEAR 2004.

-------------------------------------------------------------------------------------------------------
WASHINGTON MUTUAL, INC.                                                       Agenda: 932099167
     CUSIP: 939322103                         Meeting Type: Annual
    Ticker: WM                                Meeting Date: 4/20/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      ANNE V. FARRELL                                               Mgmt          For           For
        STEPHEN E. FRANK                                              Mgmt          For           For
        MARGARET OSMER MCQUADE                                        Mgmt          For           For
        WILLIAM D. SCHULTE                                            Mgmt          For           For
02      RATIFICATION OF THE APPOINTMENT OF                            Mgmt          For           For
        DELOITTE & TOUCHE LLP AS THE COMPANY S
        INDEPENDENT AUDITORS FOR 2004
03      SHAREHOLDER PROPOSAL RELATING TO A                             Shr        Against         For
        SPECIFIC COMPENSATION PROGRAM

-------------------------------------------------------------------------------------------------------
WEINGARTEN REALTY INVESTORS                                                   Agenda: 932108512
     CUSIP: 948741103                         Meeting Type: Annual
    Ticker: WRI                               Meeting Date: 4/23/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      STANFORD ALEXANDER                                            Mgmt          For           For
        ANDREW M. ALEXANDER                                           Mgmt          For           For
        J. MURRY BOWDEN                                               Mgmt          For           For
        JAMES W. CROWNOVER                                            Mgmt          For           For
        ROBERT J. CRUIKSHANK                                          Mgmt          For           For
        MELVIN A. DOW                                                 Mgmt          For           For
        STEPHEN A. LASHER                                             Mgmt          For           For
        DOUGLAS W. SCHNITZER                                          Mgmt          For           For
        MARC J. SHAPIRO                                               Mgmt          For           For
02      RATIFICATION OF DELOITTE & TOUCHE LLP                         Mgmt          For           For
        AS WEINGARTEN S INDEPENDENT
03      SHAREHOLDER PROPOSAL ENTITLED                                  Shr        Against         For
        PERFORMANCE AND TIME-BASED RESTRICTED
        SHARES.

-------------------------------------------------------------------------------------------------------
WELLS FARGO & COMPANY                                                         Agenda: 932109538
     CUSIP: 949746101                         Meeting Type: Annual
    Ticker: WFC                               Meeting Date: 4/27/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

01      J.A. BLANCHARD III                                            Mgmt          For           For
        SUSAN E. ENGEL                                                Mgmt          For           For
        ENRIQUE HERNANDEZ, JR.                                        Mgmt          For           For
        ROBERT L. JOSS                                                Mgmt          For           For
        REATHA CLARK KING                                             Mgmt          For           For
        RICHARD M. KOVACEVICH                                         Mgmt          For           For
        RICHARD D. MCCORMICK                                          Mgmt          For           For
        CYNTHIA H. MILLIGAN                                           Mgmt          For           For
        PHILIP J. QUIGLEY                                             Mgmt          For           For
        DONALD B. RICE                                                Mgmt          For           For
        JUDITH M. RUNSTAD                                             Mgmt          For           For
        STEPHEN W. SANGER                                             Mgmt          For           For
        SUSAN G. SWENSON                                              Mgmt          For           For
        MICHAEL W. WRIGHT                                             Mgmt          For           For
02      PROPOSAL TO APPROVE THE COMPANY S                             Mgmt          For           For
        SUPPLEMENTAL 401(K) PLAN.
03      PROPOSAL TO RATIFY APPOINTMENT OF                             Mgmt          For           For
        KPMG LLP AS INDEPENDENT AUDITORS FOR
04      STOCKHOLDER PROPOSAL REGARDING                                 Shr          For         Against
        EXPENSING STOCK OPTIONS.
05      STOCKHOLDER PROPOSAL REGARDING                                 Shr        Against         For
        RESTRICTED STOCK.
06      STOCKHOLDER PROPOSAL REGARDING                                 Shr        Against         For
        EXECUTIVE COMPENSATION AND PREDATORY
        LENDING.
07      STOCKHOLDER PROPOSAL REGARDING                                 Shr        Against         For
        POLITICAL CONTRIBUTIONS.

-------------------------------------------------------------------------------------------------------
WORTHINGTON INDUSTRIES, INC.                                                  Agenda: 932037472
     CUSIP: 981811102                         Meeting Type: Annual
    Ticker: WOR                               Meeting Date: 9/25/2003           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      JOHN B. BLYSTONE                                              Mgmt          For           For
        JAMES G. BROCKSMITH, JR                                       Mgmt          For           For
        WILLIAM S. DIETRICH, II                                       Mgmt          For           For
        SIDNEY A. RIBEAU                                              Mgmt          For           For
02      APPROVAL OF THE PROPOSED AMENDMENT TO                         Mgmt          For           For
        THE WORTHINGTON INDUSTRIES, INC.
        2000 STOCK OPTION PLAN FOR NON-
        EMPLOYEE DIRECTORS.
03      APPROVAL OF THE WORTHINGTON                                   Mgmt          For           For
        INDUSTRIES, INC. 2003 STOCK OPTION
        PLAN.

<PAGE>

04      REAPPROVAL OF THE MATERIAL TERMS OF                           Mgmt          For           For
        THE PERFORMANCE GOALS UNDER THE
        WORTHINGTON INDUSTRIES, INC. 1997
        LONG-TERM INCENTIVE PLAN.
05      RATIFICATION OF THE SELECTION OF THE                          Mgmt          For           For
        FIRM OF KPMG LLP AS INDEPENDENT
        AUDITORS OF THE COMPANY FOR THE
        FISCAL YEAR ENDING MAY 31, 2004.

-------------------------------------------------------------------------------------------------------
XCEL ENERGY INC.                                                              Agenda: 932113816
     CUSIP: 98389B100                         Meeting Type: Annual
    Ticker: XEL                               Meeting Date: 5/20/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      TO AMEND OUR BYLAWS TO ELIMINATE THE                          Mgmt          For           For
        CLASSIFICATION OF THE BOARD OF
        DIRECTORS.
02      DAVID A. CHRISTENSEN                                          Mgmt          For           For
        DR. MARGARET R. PRESKA                                        Mgmt          For           For
        W. THOMAS STEPHENS                                            Mgmt          For           For
        RICHARD H. ANDERSON                                           Mgmt          For           For
        RICHARD C. KELLY                                              Mgmt          For           For
        RALPH R. PETERSON                                             Mgmt          For           For
03      TO APPROVE THE STOCK EQUIVALENT PLAN                          Mgmt        Against       Against
        FOR NON-EMPLOYEE DIRECTORS.

-------------------------------------------------------------------------------------------------------
FORTIS SA/NV, BRUXELLES                                                       Agenda: 700508938
     CUSIP: B4399L102                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/26/2004           ISIN: BE0003801181
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Opening                                                       Non-
                                                                     Voting
2.a     Approve the annual report, the annual                         Mgmt          For            *
        accounts and the profit
2.b     Approve the dividend policy and the                           Mgmt          For            *
        proposal to establish gross amount of
        the dividend
2.c     Grant discharge of the Board of                               Mgmt          For            *
        Management
3.      Approve the Corporate Governance                              Mgmt          For            *
4.a     Re-appoint the Members of the Board                           Mgmt          For            *
        of Management
4.b     Appoint Members of the Board of                               Mgmt          For            *
        Management
5.      Authorize the Board of Management to                          Mgmt          For            *
        acquire Fortis Units

<PAGE>

6.      Amend the Articles of Association                             Mgmt          For            *
7.      Closure                                                       Non-
                                                                     Voting

-------------------------------------------------------------------------------------------------------
FORTIS SA/NV, BRUXELLES                                                       Agenda: 700496878
     CUSIP: B4399L102                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 5/4/2004            ISIN: BE0003801181
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        IMPORTANT MARKET PROCESSING                                   Non-
        REQUIREMENT: A BENEFICIAL OWNER                              Voting
        SIGNED POWER OF ATTORNEY (POA) IS
        REQUIRED IN ORDER TO LODGE AND
        EXECUTE YOUR VOTING INSTRUCTIONS IN
        THIS MARKET. ABSENCE OF A POA, MAY
        CAUSE YOUR INSTRUCTIONS TO BE
        REJECTED. SHOULD YOU HAVE ANY
        QUESTIONS, PLEASE CONTACT YOUR CLIENT
        SERVICE REPRESENTATIVE AT ADP.
1.      Opening                                                       Non-
                                                                     Voting
2.      Amend the Articles of Association to                          Mgmt          For            *
        co-ordinate the provisions of the
        Articles of Association of Fortis
        SANV and Fortis NV and to rephrase
        the Article relating to the Board of
        Directors, Management and the
        representation of the Company: 1)
        definition of twinned share,
        principle, form, name, registered
        office, object; 2) authorized
        capital, shares, bonds; 3)
        administration, Management, control;
        4) general meetings; 5) Company year,
        distributions; 6) liquidation; and
        7) general provisions
3.      Closing                                                       Non-
                                                                     Voting

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AAREAL BANK AG, WIESBADEN                                                     Agenda: 700516783
     CUSIP: D00379111                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 6/16/2004           ISIN: DE0005408116
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the financial statements and                          Mgmt          For            *
        the annual report for the FY 2003
        with the report of the Supervisory
        Board, the Group financial statements
        and the Group annual report
10.     Approve the adequacy of the                                   Mgmt          For            *
        Supervisory Board remuneration of EUR
        18,000 per Member and year

<PAGE>

11.     Approve the amendments to the                                 Mgmt          For            *
        Articles of Association regarding the
        shares being deposited not later
        than the seventh day prior to the
        shareholder meeting, and Supervisory
        Board Members being authorized to
        participate in the shareholder
2.      Approve the appropriation of the                              Mgmt          For            *
        distributable profit of EUR
        37,200,905.80 as follows: payment of
        a dividend of EUR 0.60 per no-par
        shares; EUR 16,000,000 to be
        allocated to the revenue reserves;
        and ex-dividend and payable date: 17
3.      Ratify the acts of the Board of                               Mgmt          For            *
        Managing Directors
4.      Ratify the acts of the Supervisory                            Mgmt          For            *
        Board
5.      Appoint Pwc Deutsche Revision AG,                             Mgmt          For            *
        Frankfurt, as the Auditors for the FY
        2004
6.      Authorize the Board of Managing                               Mgmt        Against          *
        Directors, with the consent of the
        Supervisory Board, to increase the
        share capital by up to EUR 53,000,000
        through the issue of new shares
        against payment in cash or kind, on
        or before 15 JUN 2005; shareholders
        subscription rights may be excluded
        for a capital increase against cash
        payment of up to 10% of the share
        capital if the new shares are issued
        at a price not materially below the
        market price of identical shares, for
        the granting of such rights to
        bondholders, for the issue of
        employee shares of up to EUR
        4,000,000 and for a capital increase
        against payment in kind; and amend
        the corresponding Articles of
7.      Authorize the Company to acquire and                          Mgmt          For            *
        sell own shares, at prices not
        differing more than 10% from the
        market price of the shares, on or
        before 15 DEC 2005; the trading
        portfolio of shares to be acquired
        for such purpose shall not exceed 10%
        of the Company s share capital at
        the end of each day

<PAGE>

8.      Authorize the Company to acquire own                          Mgmt        Against          *
        shares of up to 10% of the share
        capital, at prices not differing more
        than 10% from the market price of
        the shares, on or before 15 DEC 2005;
        and to dispose of the shares in a
        manner other than the stock exchange
        or an offer to all shareholders if
        the shares are sold at a price not
        materially below their market price,
        to use the shares for acquisition
        purposes or for satisfying existing
        convertible or option rights, and to
        retire the shares
9.      Authorize the Board of Managing                               Mgmt          For            *
        Directors, to issue profit sharing
        rights of up to EUR 400,000,000
        having a term of up to 25 years on or
        before 15 JUN 2009; shareholders
        subscription rights may be excluded
        for residual amounts and for the
        issue of profit-sharing rights with

-------------------------------------------------------------------------------------------------------
BASF AG, LUDWIGSHAFEN/RHEIN                                                   Agenda: 700471941
     CUSIP: D06216101                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/29/2004           ISIN: DE0005151005
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the financial statements and                          Mgmt          For            *
        the annual report for the FY 2003
        with the report of the Supervisory
        Board, the Group financial statements
        and the Group annual report
2.      Approve the appropriation of the                              Mgmt          For            *
        distributable profit of EUR
        779,300,744 as the payment of a
        dividend of EUR 1.40 per share and
        EUR 896,000 shall be carried forward
        as ex-dividend and payable on 30 APR
3.      Ratify the acts of the Supervisory                            Mgmt          For            *
        Board
4.      Ratify the acts of the Board of                               Mgmt          For            *
        Managing Directors
5.      Appoint Deloitte + Touche GmbH,                               Mgmt          For            *
        Frankfurt as the Auditors for the FY
        2004

<PAGE>

6.      Authorize the Company to acquire own                          Mgmt          For            *
        shares of up to 10% of its share
        capital, at a price not more than 25%
        from the market price of the shares,
        on or before 28 OCT 2005 and
        authorize the Board of Managing
        Directors to retire the shares and to
        use the shares for the Company s
        stock option plans or for acquisition
7.      Authorize the Company, using                                  Mgmt          For            *
        derivative financial instruments
        within the scope of Resolution 6, to
        put and call options for the
        repurchase of own shares at a price
        not more than their theoretical
        market value; the price paid for own
        shares correspond to the strike price
        agreed upon in the financial
8.      Authorize the Board of Managing                               Mgmt          For            *
        Directors with the consent of the
        Supervisory Board, to increase the
        Company s share capital by excluding
        the shareholders subscription rights
        for the issue of up to 15,000,000
        employee shares , up to EUR
        500,000,000 10% of the share capital
        through the issue of new shares
        against payment in cash or kind, on
        or before 01 MAY 2009 at a price not
        materially below the market price of
        identical shares; and for the
        granting of such rights to
        bondholders or holders of stock
        options, for residual amounts
9.      Approve the control and profit                                Mgmt          For            *
        transfer agreement with the Company s
        wholly owned subsidiary BASF Plant
        Science Holding GmbH, with effect
        from 01 JAN 2004 to 31 DEC 2008

-------------------------------------------------------------------------------------------------------
DAIMLERCHRYSLER AG, STUTTGART                                                 Agenda: 700457624
     CUSIP: D1668R123                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/7/2004            ISIN: DE0007100000
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

        PLEASE DISREGARD THE PREVIOUSLY SENT                          Non-
        NOTE ON POWER OF ATTORNEY                                    Voting
        REQUIREMENTS. THANK YOU
        NS IN THIS MARKET.
        ABSENCE OF A POA, MAY CAUSE YOUR
        INSTRUCTIONS TO BE REJECTED. SHOULD
        YOU HAVE ANY QUESTIONS, PLEASE
        CONTACT YOUR CLIENT SERVICE
        REPRESENTATIVE AT ADP. THANK YOU
1.      Receive the financial statements and                          Mgmt          For            *
        the annual report for the FY 2003,
        with the report of the Supervisory
        Board, the Group financial
        statements and the Group annual
2.      Approve the appropriation of the                              Mgmt          For            *
        distributable profit of EUR
        1,519,236,286.50 as follows: payment
        of a dividend of EUR 1.50 per no-par
        share and ex-dividend payable date:
        08 APR 2004
3.      Ratify the acts of the Board of                               Mgmt          For            *
        Managing Directors
4.      Ratify the acts of the Supervisory                            Mgmt          For            *
        Board
5.      Appoint KPMG AG, Frankfurt and                                Mgmt          For            *
        Berlin, as the Auditors for the FY
6.      Authorize the Company to acquire own                          Mgmt          For            *
        shares of up to EUR 263,000,000, at a
        price not more than 5% from the
        market price of the shares if they
        are acquired through the stock
        exchange, not more than 20% if they
        are acquired by way of a repurchase
        offer, on or before 07 OCT 2005; the
        shares may be floated on foreign
        stock exchanges, used for acquisition
        purposes or within the scope of the
        Company s stock option plan, offered
        to employees of the company and its
        affiliates, and retired
7.      Elect the Supervisory Board                                   Mgmt          For            *
8.      Approve the modification of the                               Mgmt          For            *
        Supervisory Board remuneration; each
        Member of the Supervisory Board will
        receive a fixed annual remuneration
        of EUR 55,000 plus a performance
        based remuneration in the form of
        phantom shares of up to EUR 20,000;
        and the Chairman receive three times,
        and the Deputy Chairman twice, these
        amounts; and amend to the
        corresponding Articles of Association

<PAGE>

-------------------------------------------------------------------------------------------------------
E.ON AKTIENGESELLSCHAFT EON, DUESSELDORF                                      Agenda: 700475470
     CUSIP: D24909109                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/28/2004           ISIN: DE0007614406
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the financial statements and                          Mgmt          For            *
        the annual report for the FY 2003
        with the report of the Supervisory
        Board, the Group financial statements
        and the Group annual report
2.      Approve the appropriation of the                              Mgmt          For            *
        distributable profit of EUR
        1,312,052,802 as follows: payment of
        a dividend of EUR 2 per no-par share;
        ex-dividend and payable date: 29 APR
3.      Ratify the acts of the Board of                               Mgmt          For            *
        Managing Directors
4.      Ratify the acts of the Supervisory                            Mgmt          For            *
        Board
5.      Amend the Articles of Association                             Mgmt          For            *
        regarding the shareholder meeting
        having the power to approve stock
        dividends
6.      Approve the control and profit                                Mgmt          For            *
        transfer agreement with the Companys
        wholly-owned E. ON Nordic Holding
        GmbH, with effect from 01 JAN 2004
        until at least 31 DEC 2008
7.      Authorize the Company to acquire own                          Mgmt          For            *
        shares of up to 10% of its share
        capital, at prices not differing more
        than 20% from their market price, on
        or before 28 JAN 2005; authorize the
        Board of Managing Directors to
        dispose of the shares in a manner
        other than the stock exchange or a
        rights offering if the shares are
        sold at a price not materially below
        their market price, used for
        acquisition purposes or for
        satisfying existing option and
        conversion rights, or issued to the
        Companys and its affiliates
        employees; the shares may also be
8.      Appoint PricewaterhouseCoopers,                               Mgmt          For            *
        Deutsche Revision AG, Dusseldorf, as
        the Auditors for the FY 2004

<PAGE>

-------------------------------------------------------------------------------------------------------
ABERTIS INFRAESTRUCTURAS SA, BARCELONA                                        Agenda: 700483287
     CUSIP: E0003D111                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/26/2004           ISIN: ES0111845014
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE THAT BLOCKING CONDITIONS                          Non-
        FOR VOTING AT THIS GENERAL MEETING                           Voting
        ARE RELAXED. BLOCKING PERIOD ENDS ONE
        DAY AFTER THE REGISTRATION DATE SET
        ON 20 APR 2004. SHARES CAN BE TRADED
        THEREAFTER. THANK YOU.
1.      Approve the individual and                                    Mgmt          For            *
        consolidated annual and their
        corresponding Management reports for
        the FY 2003, as well as that of the
        Board of Directors
2.      Approve the capital increase through                          Mgmt          For            *
        the incorporation of reserves, and
        the consequent amendment of Article 5
        of the Company Statutes and
        application for admission to
        negotiate in the official markets and
        other organised markets and
        authorize the Board of Directors
        and/or the Managing Director to
        determine the conditions of the
        increase which are not contemplated
3.      Ratify the Directors                                          Mgmt          For            *
4.      Approve the nomination of accounts                            Mgmt          For            *
        Auditors for the Company and its
        consolidated Group
5.      Authorize the Board of Directors of a                         Mgmt          For            *
        derivative acquisition of shares and
        their transfer
6.      Authorize the Board of Directors,                             Mgmt          For            *
        Executive Committee and Managing
        Director, to agree the issue of
        bonds, obligations or similar stocks,
        not convertible into shares, to the
        amount and timescale decided by the
        assembly, leaving the unavailable
        part under the previous delegation
7.      Approve the regulations of the                                Mgmt          For            *
        general assembly, amend Article 12 of
        the Company Statutes and approve the
        regulations of the Board of

<PAGE>

8.      Approve the consolidated balance                              Mgmt          For            *
        sheet, the merger project and the
        merger of Abertisinfraestructuras,
        S.A. and Ibericade Autopistas, S.A.,
        inclusion of the merger in the
        special tax category for mergers,
        takeovers and split-offs provided
        under Corporate Tax Law 43/1995
9.      Grant authority for the formalization                         Mgmt          For            *
        and execution of all agreements
        adopted by the assembly,
        undertakingas many meetings as
        necessary until registration can be
        made in the Companies register

-------------------------------------------------------------------------------------------------------
ABERTIS INFRAESTRUCTURAS SA, BARCELONA                                        Agenda: 700406906
     CUSIP: E0003D111                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 9/15/2003           ISIN: ES0111845014
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE IN THE EVENT THE MEETING
        Non- DOES NOT REACH QUORUM, THERE
        WILL BE Voting A SECOND CALL ON 16
        SEP 2003. CONSEQUENTLY, YOUR VOTING
        INSTRUCTIONS WILL REMAIN VALID FOR
        ALL CALLS UNLESS THE AGENDA IS
1.      Approve the accounting on 31 MAY                              Mgmt          For            *
        2003, to the effects of the foreseen
        in Article 157 of the Law of the
        Corporations
2.      Approve, the capital increase against                         Mgmt          For            *
        reserves and the corresponding
        modifications to the 5th Article of
        the Corporation By-law; and the
        request of admission to negotiation
        on the stock exchange
3.      Approve the delegation of all the                             Mgmt          For            *
        faculties for the formalization and
        execution of all the agreements
        adopted in the meeting, carrying out
        all acts until they are recorded in
        the Mercantile Register

-------------------------------------------------------------------------------------------------------
ALTADIS SA                                                                    Agenda: 700522003
     CUSIP: E0432C106                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 6/15/2004           ISIN: ES0177040013
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

        In accordance with current legal                              Non-
        regulations and the Company By-laws,                         Voting
        at its meeting on 11 May 2004, and
        with the required presence of its
        Legal Representative, the Board of
        Directors of Altadis, S.A.,
        unanimously resolved to call an
        Ordinary General Meeting of
        Shareholders, to be held at second
        call in Madrid, at the IFEMA,
        Auditorium (2nd Floor), Parque Ferial
        Juan Carlos I, Campo de las
        Naciones, at 16:00, on June 15th 2004
        (in the event that the meeting is
        not held at first notice, likewise
        called at the same place and time the
        previous day, June 14th 2003) to
        discuss and decide upon the following
        items (Please also be advised that
        additional information concerning
        Altadis, S.A. can also be viewed on
        the Company s website:
1.      Examination and approval, if                                  Mgmt          For            *
        applicable, of the Annual Accounts
        (Balance Sheet, Profit and Loss
        Account and Report) and the
        Management Report, as well as the
        Management of the Board of Directors,
        for the year 2003, of ALTADIS, S.A.
        and its Consolidated Group and the
        proposed application of results and
        distribution of dividends. It is
        proposed to approve the Annual
        Accounts (Balance Sheet, Profit and
        Loss Account and Report), and the
        Management Report for the year ended
        31 December 2003 of the Company and
        its Consolidated Group, and to
        approve the corporate management and
        decide on the application of the
        results which consists of paying,
        from the profits of the year (Euro
        291,353 thousand), a dividend of Euro
        0.80 per share. The remainder shall
        be destined to increase the balance
        of the voluntary reserves of Altadis,
        S.A. Consequently, the resolution of
        the Board to pay a dividend of Euro
        0.35 per share is ratified and it is
        proposed to pay a supplementary
        dividend in the amount of Euro 0.45
        per share, on 22 June 2004, which
        would bring the total dividend of the
        year to Euro 0.80 per share

<PAGE>

2.      Ratification of Board Members. In                             Mgmt          For            *
        accordance with Article 34 of the By-
        laws, it is proposed to ratify the
        appointment as Members of the Board
        of Directors of those Directors
        appointed by co-optation to occupy
        such posts during the time-period
        from the Ordinary General
        Shareholders Meeting of 10 June 2003
        up to the date of the present General
3.      Appointment or re-election of                                 Mgmt          For            *
        Auditors of ALTADIS, S.A. and its
        Consolidated Group for 2004. It is
        proposed to re-elect as Auditors of
        the Company and its Consolidated
        Group, the Company Deloitte & Touche
        Espana, S.L. , which will carry out
        the audit for 2004, empowering the
        Board of Directors, which may
        delegate to this end the Audit and
        Control Committee, to enter into the
        corresponding service agreement,
        based on the remuneration for the
        previous year, with the clauses and
        conditions it may deem convenient,
        having also the powers to carry out
        any modifications as may be pertinent
        in accordance with the legislation

<PAGE>

4.      Reduction of share capital by way of                          Mgmt          For            *
        amortisation of own shares, giving
        rise to revised text of By-laws
        article on share capital. The
        resolution put forward for the
        approval of the General Shareholders
        Meeting by the Board of Directors in
        relation with this matter is
        transcribed below: Reduce the share
        capital of the Company in the amount
        of Euro 4.350.000, by way of
        amortisation of 7.250.000 own shares
        currently in treasury stock, which
        have been previously acquired under
        authorisation from the General
        Shareholders Meeting, within the
        scope of Articles 75 and onwards and
        under additional provision 1, section
        2, of the Companies Act.
        Consequently, Article 5 of the By-
        laws is modified concerning the
        figure for the share capital, and
        shall read as follows: Article 5 -
        Share Capital The share capital is
        ONE HUNDRED AND SIXTY-NINE MILLION,
        NINE HUNDRED AND THIRTY-TWO THOUSAND,
        EIGHT HUNDRED AND FIFTY-FIVE EURO AND
        SIXTY CENT (Euro 169,932,855.60),
        represented by TWO HUNDRED AND
        EIGHTY-THREE MILLION, TWO HUNDRED AND
        TWENTY-ONE THOUSAND, FOUR HUNDRED AND
        TWENTY-SIX shares (283,221,426
        shares) of 0.60 nominal Euro each,
        all of the same type, numbered from 1
        to 283,221,426 inclusive, fully
        subscribed and paid up. The reduction
        should be carried out in a maximum
        time period of six months, from the
        date of the present resolution. The
        reduction of capital is charged to
        reserves, cancelling the unavailable
        reserve referred to in Article 79.3
        of the Companies Act. The reduction
        does not bring about any return of
        contributions given that the Company
        itself is the owner of the amortised
        shares. Therefore, the purpose of the
        reduction shall be to amortise own
        shares. It is proposed to delegate to
        the Board of Directors the carrying
        out of any procedures which may be
        necessary under Law in order to
        complete or rectify, as the case may
        be, that which is adopted here and,
        in particular, in order that the
        Board of Directors may: request that
        the

<PAGE>

        amortised shares are not quoted, as
        established under applicable
        legislation; draft and publish, where
        necessary, the announcements referred
        to in Article 165 of the Companies
        Act; should the right to oppose be
        exercised by any of the holders of
        the same, where applicable, comply
        with the requirements established in
        Article 166, section 3, of the Act;
        and, in general, adopt any
        resolutions and carry out any acts
        which may be necessary in order to
        reduce the capital and amortise the
        shares, with express powers to
        rectify or complement previous
        resolutions depending on the verbal
        or written qualification given by the
        Mercantile Registrar, granting the
        corresponding public deed(s), and
        designating the person(s) who may
        intervene in the formalisation of the
        same. It is also proposed to
        delegate, indiscriminately, to the
        Chairman of the Board of Directors
        and the Secretary of the Board, the
        powers necessary in order to
        formalise the present resolution,
        being able, to this effect, to grant
        any type of public or private
        document, including to complement or
        rectify the resolution, and in order
        to proceed with the registration of
        the same in the corresponding

<PAGE>

5.      Authorisation to the Board of                                 Mgmt          For            *
        Directors to acquire own shares,
        directly or through Group entities,
        within the limits and in accordance
        with the legal requirements, for a
        maximum period of eighteen months,
        rendering null and void that part not
        used of the authorisation granted by
        the General Shareholders Meeting of
        10 June 2003, and authorisation for
        the sale and/or application of these
        shares to the remuneration systems
        envisaged in Article 75 of the
        Companies Act. It is proposed to
        expressly authorise the Board of
        Directors, in accordance with Article
        75 of the revised text in force of
        the Companies Act, to acquire shares
        of ALTADIS, S.A., either directly by
        the Company itself or indirectly
        through entities of its Group, up to
        a maximum amount of shares
        representing 5% of the share capital
        and at a price or value which may not
        be less than the nominal value of the
        shares or greater than their quoted
        price on the Stock Exchange. The
        acquisition for which authorisation
        is requested may be effected by way
        of purchase, exchange, donation,
        attribution, or granting of payment
        and, in general, by any other method
        of acquisition by payment of shares
        in circulation and fully paid up,
        including the use of financial
        instruments, in particular all those
        options operations (puts and calls),
        and for a maximum period of eighteen
        months to run from the adoption of
        this resolution. These shares which
        are acquired shall not enjoy any
        public right, not even the voting
        right, the economic rights which
        correspond to them being attributed
        proportionally to the rest of the
        shares in accordance with Article 79
        of the Act. The Board of Directors is
        authorised to create at the time of
        acquisition of the shares, a special
        unavailable reserve on the debit side
        of its balance sheet which shall be
        charged to freely available reserves
        in an amount equivalent to the
        acquisition value of the said shares.
        This authorisation renders null and
        void that agreed by the General

<PAGE>

        Shareholders Meeting on 10 June 2003.
        Similarly, and in accordance with
        paragraph 2 of point 1 of Article 75
        of the Companies Act, express
        authorisation is granted for the
        acquisition of the shares of the
        Company by any of the Group companies
        under the terms contained herein. It
        is expressly stated that the shares
        which are acquired as a result of
        this authorisation may be allocated
        either for sale or for application to
        the remuneration systems outlined in
        the third paragraph of section 1 of
        Article 75 of the Companies Act. The
        Board of Directors shall, when
        applicable, decide upon the sale,
        maintenance or amortisation of the

<PAGE>

6.      Authorisation to the Board of                                 Mgmt          For            *
        Directors to issue on one or various
        occasions non-convertible debentures,
        bonds or any other values, shares
        and effects as may be used to create
        or recognise a debt, under the terms,
        time limits and conditions legally
        established, rendering null and void
        the previous authorisation, not used,
        conceded for this purpose by the
        General Shareholders Meeting. It is
        proposed to authorise the Board of
        Directors, in the widest scope
        permitted by law, to issue, in
        accordance with the requirements
        indicated by legislation in force,
        non-convertible debentures or bonds
        of any type, promissory notes, stock
        options or other similar values with
        or without option and, in general,
        any other value or financial
        instrument, represented by shares or
        accounting entries, in Euro or any
        other currency, as well as to approve
        plans or programmes for the issue of
        bonds, debentures, promissory notes
        or warrants. The above may be issued,
        at the discretion of the Board,
        either on one occasion or on as many
        occasions as the Board itself may
        deem fit, and the Board, in turn, may
        delegate the power invested in it,
        in accordance with the law, to other
        Board Members, to the Secretary of
        the Board and to the CFO of the Group
        in cases of approval of programmes
        or plans for issue of bonds,
        debentures, promissory notes or
        warrants, in order that they may
        specify the conditions of issue in
        line with the basis of the plan or
        programme of issue approved by the
        Board of Directors. This delegation
        of powers includes the power to
        designate the Intervening body and to
        set terms and conditions in
        accordance with applicable
        legislation. This authorisation is
        granted for the maximum time
        permitted by the legislation in force
        and renders null and void the former
        authorisation granted by the General

<PAGE>

7.      Modification of Article 22 of the By-                         Mgmt          For            *
        laws (eliminates the need to hold at
        least 50 shares to be entitled to
        attend the General Shareholders
        Meeting), Article 23 (includes
        conferring representation by way of
        remote communication), Article 25
        (eliminates the requirement for
        qualified quorums and majorities for
        the adoption of certain resolutions
        and includes the exercise or
        delegation of voting right via e-mail
        or any other means of remote
        communication) and Article 28
        (broadens the scope of shareholders
        right to information). It is proposed
        to modify the By-laws, as proposed
        by the Board of Directors, and
        consisting of the modification of
        Article 22 of the By-laws (eliminates
        the need to hold at least 50 shares
        to be entitled to attend the General
        Shareholders Meeting), Article 23
        (includes conferring representation
        by way of remote communication),
        Article 25 (eliminates the
        requirement for qualified quorums and
        majorities for the adoption of
        certain resolutions and includes the
        exercise or delegation of voting
        right via e-mail or any other means
        of remote communication) and Article
        28 (broadens the scope of
        shareholders right to information),
        with the following text: ARTICLE
        22.- RIGHT TO ATTEND 1.- All of the
        Company shareholders shall be
        entitled to attend the General
        Shareholders Meeting, provided their
        shares are duly registered in the
        Accounting Register of the authorised
        entity five days prior to the date
        on which the Shareholders Meeting is
        to be held, and provided they retain
        ownership of these shares on that
        date. 2.- The members of the Board of
        Directors must attend the
        Shareholders Meeting. If the
        Chairman considers it necessary, the
        Shareholders Meeting may be attended
        by the General Managers and all
        other executives or technical experts
        of the Company as well as any other
        persons whose attendance is conducive
        to the effective progress of the
        Meeting. ARTICLE 23.- REPRESENTATION
        AT THE GENERAL SHAREHOLDERS MEETING

<PAGE>

        1.- All shareholders may be
        represented at the General
        Shareholders Meeting by any other
        shareholder entitled to attend in
        his/her own right, without prejudice
        to the provisions of Article 108 of
        the Companies Act. 2.- In the same
        way legal entities and minors or
        disabled persons shall attend the
        General Shareholders Meeting through
        their authorised representatives who
        may, likewise, delegate such
        representation to another
        shareholder. 3.- Such representation
        shall be conferred either in writing
        or by any other means of remote
        communication which complies with the
        requirements established by Law, and
        shall be specific for each
        Shareholders Meeting. 4.-
        Representation may be rejected where
        this is conferred to the trustee or
        ostensible partner. ARTICLE 25.-
        QUORUM AND MAJORITIES 1.- Both
        Ordinary and Extraordinary
        Shareholders Meetings shall be
        deemed to be validly convened where,
        at first or second call, the portion
        of the share capital stipulated in
        this respect as the minimum by
        current legislation in each case is
        present or represented. 2.-
        Resolutions must be adopted by one
        half plus one of the votes attached
        to the shares present or represented,
        except where the Law requires a
        greater majority. 3.- The right to
        vote on proposals regarding the
        matters on the Agenda at any type of
        General Shareholders Meeting may be
        delegated or exercised by the
        shareholders by post, electronic mail
        or any other means of remote
        communication, provided that the
        identity of the party exercising
        his/her right to vote is duly
        established. ARTICLE 28.-
        SHAREHOLDERS RIGHT TO INFORMATION
        1.- Up to the seventh day prior to
        the planned date of the General
        Shareholders Meeting, shareholders
        may request that the Board of
        Directors provides information or
        clarifications with respect to the
        matters on the Agenda, and may
        present the questions they deem
        appropriate in writing. Likewise,

<PAGE>

        shareholders may request information
        or clarifications or may formulate
        questions in writing regarding the
        information available to the public
        which the Company has communicated to
        the National Securities Commission
        since the last General Shareholders
        Meeting. The Members of the Board
        shall be obliged to provide the
        information requested in accordance
        with the preceding paragraph, in
        writing, up to the date on which the
        General Shareholders Meeting is
        held. 2.- During the course of the
        General Shareholders Meeting,
        shareholders may verbally request the
        information or clarifications they
        deem appropriate regarding the
        matters on the Agenda. Should it not
        be possible to respond to such a
        request at the time, the Members of
        the Board shall be obliged to provide
        the requested information in
        writing, within the seven days
        following the conclusion of the
        General Shareholders Meeting. 3.-
        The Members of the Board shall be
        obliged to provide the information
        requested in accordance with the
        provisions established herein, save
        where the Chairman judges that the
        disclosure of such information may be
        detrimental to the Company s
        interests, as set out in the
        Regulations of the General
        Shareholders Meeting. 4.- The
        request for information may not be
8.      Examination and approval, as the case                         Mgmt          For            *
        may be, of the Regulations of the
        General Shareholders Meeting of
        Altadis, S.A. It is proposed to
        approve the Draft Regulations of the
        General Shareholders Meeting of
        Altadis, S.A., as presented to the
        Meeting by the Board of Directors of
        the Company, the complete text of
        which is attached hereto

<PAGE>

9.      Delegation of powers to formalise,                            Mgmt          For            *
        interpret, rectify, register and
        execute the resolutions adopted by
        the General Shareholders Meeting. It
        is proposed to delegate to the Board
        of Directors, in the widest scope
        possible, including the power to
        delegate totally or partially the
        powers received in the Executive
        Committee, as many powers as may be
        necessary in order to supplement,
        develop, execute and rectify any of
        the resolutions adopted by the
        General Shareholders Meeting. The
        power to rectify shall encompass the
        power to make as many modifications,
        amendments and additions as may be
        necessary or convenient as a
        consequence of reservations or
        observations raised by the regulating
        bodies of the stock market, the
        stock exchanges, the Mercantile
        Registry and any other public
        authority with competence in relation
        to the resolutions adopted. In the
        same way, it is proposed to delegate,
        indiscriminately, to the Chairman of
        the Board of Directors and the
        Secretary of the Board the powers
        necessary to formalise the
        resolutions adopted by the General
        Shareholders Meeting, and to register
        those which may be subject to this
        requirement, totally or partially,
        being able to this effect to grant
        any type of document, either public
        or private, including for the

-------------------------------------------------------------------------------------------------------
ANTENA 3 DE TELEVISION SA, MADRID                                             Agenda: 700505398
     CUSIP: E05009142                         Meeting Type: OGM
    Ticker:                                   Meeting Date: 5/12/2004           ISIN: ES0109427635
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve the annual statements                                 Mgmt          For            *
        balance sheet, loss and profit
        account and annual report ,
        performing report of Antena 3 DE
        Television, SA and its consolidated
        Group and management report, all
        relating FY 2003 and the allocation
2.      Approve to take the necessary actions                         Mgmt          For            *
        to maintain the stability of the
        holding Company Uniprex, Sau
3.      Ratify the Directors appointed by the                         Mgmt          For            *
        Board of Directors in the last

<PAGE>

        shareholders general meeting
4.      Approve to determine the maximum                              Mgmt          For            *
        aggregated amount per year to be paid
        to the Directors of the Company
5.      Approve the triannual plan of                                 Mgmt          For            *
        floating emoluments and fidelization
        of executives of Grupo Antena 3
6.      Grant authority to acquire its                                Mgmt          For            *
        treasury stock, directly or through
        its consolidated Group, and grant
        authority, if pertinent, to apply the
        own portfolio to satisfy the
        emoluments resulting from the
        triannual plan and the fidelization
        of the aforementioned item
7.      Appoint the Accounts Auditors of                              Mgmt          For            *
        Antena 3 De Television, SA and its
        consolidated Group
8.      Grant authority to formalize,                                 Mgmt          For            *
        interpret, correct and implement the
        resolutions adopted on the
        shareholder meeting, canceling the
        powers granted to the Board of
        Directors on the meeting, and to
        raise the agreements to public deed

-------------------------------------------------------------------------------------------------------
GAS NATURAL SDG SA, BARCELONA                                                 Agenda: 700481271
     CUSIP: E5499B123                         Meeting Type: OGM
    Ticker:                                   Meeting Date: 4/14/2004           ISIN: ES0116870314
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE THAT BLOCKING CONDITIONS                          Non-
        FOR VOTING AT THIS GENERAL MEETING                           Voting
        ARE RELAXED. BLOCKING PERIOD ENDS ONE
        DAY AFTER THE REGISTRATION DATE SET
        ON 08 APR 2004. SHARES CAN BE TRADED
        THEREAFTER. THANK YOU.
1.      Approve the annual accounts,                                  Mgmt          For            *
        Management report of both Gas Natural
        SDG, S.A and its consolidated Group,
        income distribution and deeds of the
        Board related to the FY 2003
10.     Questions                                                     Mgmt          For            *
2.      Approve to transfer from the optional                         Mgmt          For            *
        redemption s account to the
        voluntary reserves account as per the
        royal decree of 30 APR 1985
3.      Approve to transfer from several                              Mgmt          For            *
        reserves account to the voluntary
        reserves account
4.      Re-elect the Members of the Board                             Mgmt          For            *

<PAGE>

5.      Approve the rules of the share                                Mgmt          For            *
        holders general meeting, and receive
        the rules of the Board of Directors
6.      Authorize the Board of Gas Natural                            Mgmt          For            *
        SDG, S.A to transfer the activity of
        Gas regulated distribution to Gas
        Natural Distribution SDG, S.A, which
        is a Company of Gas Natural SDG Group
7.      Authorize the Board to acquire its                            Mgmt          For            *
        treasury stock, directly or
        indirectly, within the legal
        requirements and limits, canceling
        the authorization granted to the
        Board by the shareholders General
        Meeting on 23 JUN 2003
8.      Approve the extension of the term of                          Mgmt          For            *
        PricewaterhouseCoopers Auditors, S.L,
        as Auditors of the Gas Natural SDG
        and its consolidated Group for the FY
9.      Approve to delegate the faculties to                          Mgmt          For            *
        complement, develop execute, rectify
        and formalize the agreements adopted
        by the share holders General Meeting

-------------------------------------------------------------------------------------------------------
TELEFONICA SA                                                                 Agenda: 700483201
     CUSIP: E90183182                         Meeting Type: OGM
    Ticker:                                   Meeting Date: 4/30/2004           ISIN: ES0178430E18
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE THAT THIS IS A REVISION                           Non-
        DUE TO THE REVISED WORDING OF THE                            Voting
        RESOLUTIONS. IF YOU HAVE ALREADY SENT
        IN YOUR VOTES, PLEASE DO NOT RETURN
        THIS PROXY FORM UNLESS YOU DECIDE TO
        AMEND YOUR ORIGINAL INSTRUCTIONS.
        THANK YOU.
I.      Examination and approval, if                                  Mgmt          For            *
        applicable, of the annual accounts
        and Management Report of Telefonica,
        S.A. and its Consolidated Group of
        Companies, as well as the proposal
        for the application of the results of
        Telefonica S.A. and that of the
        management of the Company s Board of
        Directors, all for the 2003 financial
        year
II.     Shareholder remuneration,                                     Mgmt          For            *
        distribution of dividends from 2003
        net income and from the Additional
        Paid-in capital reserve
III.    Designation of the Accounts Auditor                           Mgmt          For            *
        for the 2004 fiscal year

<PAGE>

IV.     Authorization for the acquisition of                          Mgmt          For            *
        treasury stock, directly or through
        Group Companies
V.      Approval, if appropriate, of the                              Mgmt          For            *
        Regulations of the General Meeting of
        shareholders of Telefonica S.A.
VI.     Delegation of powers to formalize,                            Mgmt          For            *
        construe, correct and execute the
        resolutions adopted by the Annual
        General Shareholder s Meeting

-------------------------------------------------------------------------------------------------------
SOCIETE GENERALE PARIS                                                        Agenda: 700490472
     CUSIP: F43638141                         Meeting Type: MIX
    Ticker:                                   Meeting Date: 4/20/2004           ISIN: FR0000130809
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE IN THE EVENT THE MEETING
        Non- DOES NOT REACH QUORUM, THERE
        WILL BE Voting A SECOND CALL ON 29
        APR 2004. CONSEQUENTLY, YOUR VOTING
        INSTRUCTIONS WILL REMAIN VALID FOR
        ALL CALLS UNLESS THE AGENDA IS
        AMENDED. PLEASE BE ALSO ADVISED THAT
        YOUR SHARES WILL BE BLOCKED UNTIL THE
        QUORUM IS MET OR THE MEETING IS
E.11    Amend Articles 8 and 9 of the                                 Mgmt          For            *
        Articles of Association
E.12    Authorize the Board of Directors to                           Mgmt          For            *
        proceed, in France or abroad, with
        the issue of any kind of securities
        including stand alone warrants
        ceiling set to EUR 900,000,000.00;
        Authority is given for 26 months
E.13    Authorize the Board of Directors to                           Mgmt          For            *
        proceed, in France or abroad, with
        the issue of any kind of securities
        including stand alone warrants for a
        maximum nominal amount of EUR
        300,000,000.00 for the capital
        increase of EUR 6,000,000,000.00 for
        the debit securities; Authority is
        given for 26 months
E.14    Approve that the various delegations                          Mgmt        Against          *
        given to it at the present meeting
        shall be allowed to use in whole
        or in part within the regulations in
        force in a period of takeover bid or
        exchange bid on the Company s shares
        (till the next meeting which will
        have to deliberate upon the accounts
        of the last financial year)

<PAGE>

E.15    Authorize the Board of Directors to                           Mgmt          For            *
        proceed, in France or abroad, with
        the issue of shares or other
        securities giving acess to the
        capital of the Societe Generale,
        reserved to the members
E.16    Delegate to the Board of Directors                            Mgmt          For            *
        all powers to grant, in one or
        several stages, to beneficiaries to
        be chosen by it (among the employees
        and the agents of the Company), stock
        options granting the right to
        subscribe to the Company s ordinary
        shares to be issued in order to
        increase its capital; The
        shareholders preferential right of
        subscription is cancelled in favour
        of the beneficiaries here above
        mentioned; The total number of stock
        options, which will be so used, will
        not give right to subscribe or to
        purchase a number of shares
        representing more 5 % of the capital
        of the SOCIETE GENERALE; The present
        authorisation is given for a period
        of 26 months; The GM delegates all
        powers to the Board of Directors to
        take all necessary measures and
        accomplish all formalities necessary
        to carry out the capital increase
E.17    Grants all powers to the Board of                             Mgmt          For            *
        Directors to decrease the share
        capital by cancelling the shares held
        by the Company in connection with a
        stock repurchase plan, within a limit
        of 10 % of the total number of
        shares, over a 24 months period
        The General Meeting delegates to the
        Board of Directors all powers to
        charge all fees, rights and expenses
        resulting from the capital increase
        to all premiums resulting from such
        capital increase, and to appropriate
        from this amount such sums as are
        required to bring the legal reserve
        to tenth of the new share capital
        after each increase. The General
        Meeting delegates all powers to the
        Board of Directors to take all
        necessary measures and accomplish all
        necessary formalities. The
        present authorisation is given for a
        period of 26 months, it cancels and
        replaces for the period non-used the
        one granted by the Meeting of April

<PAGE>

E.18    Grants all powers to the bearer of a                          Mgmt          For            *
        copy or an extract of the minutes of
        the present in order to accomplish
        all deposits and publications which
        are prescribed by law
O.1     Receive the Board of Directors                                Mgmt          For            *
        reports and the General Auditors
        report and approve the accounts and
        the balance sheet for the fiscal year
        ending on 31 DEC 2003; and the
        profits for the FY: EUR
O.10    Authorize the Board of Directors to                           Mgmt          For            *
        trade the Company s shares on the
        stock exchange, notably in view of
        adjusting their price as per the
        following conditions: maximum
        purchase price: EUR 103.00; minimum
        selling price: EUR 41.00; maximum
        number of shares to be traded: 10%
O.2     Approve to withdraw upon the net                              Mgmt          For            *
        profit of the FY 2003 amounting to
        EUR 1,384,434,978.87; the
        shareholders will receive a net
        dividend of EUR 2.50 with a
        corresponding tax credit of EUR 1.25
O.3     Acknowledge the consolidated accounts                         Mgmt          For            *
        for the FYE 31 DEC 2003 as presented
        and that the report for the Group is
        included in the Board of Directors
        report
O.4     Approve the Special Auditor report,                           Mgmt          For            *
        in accordance with the provisions of
        Article L. 225.38 of the Commercial
O.5     Ratify the cooptation of Mr. M. Jean                          Mgmt          For            *
        Azema as Director
O.6     Approve to renew the term of office                           Mgmt          For            *
        of Mr. Philippe Citerne as a Director
        for 4 years
O.7     Approve to renew the term of office                           Mgmt          For            *
        of Mr. M. Antoine Jeancourt Galignani
        as a Director for 4 years
O.8     Approve to renew the term of office                           Mgmt          For            *
        of Mr. M. Suan Baird as a Director
        for 4 years
O.9     Appoint Mr. M. Michael Cicurel as a                           Mgmt          For            *
        Director for a period of 4 years

-------------------------------------------------------------------------------------------------------
TOTAL SA                                                                      Agenda: 700507102
     CUSIP: F92124100                         Meeting Type: MIX
    Ticker:                                   Meeting Date: 5/14/2004           ISIN: FR0000120271
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

        A Verification Period exists in                               Non-
        France. Please see                                           Voting
        http://ics.adp.com/marketguide for
        complete information. Verification
        Period: Registered Shares: 1 to 5
        days prior to the meeting date,
        depends on company s by-laws. Bearer
        Shares: 6 days prior to the meeting
        date. French Resident Shareowners
        must complete, sign and forward the
        Proxy Card directly to the sub
        custodian. Please contact your Client
        Service Representative to obtain the
        necessary card, account details and
        directions. The following applies to
        Non-Resident Shareowners: Proxy
        Cards: ADP will forward voting
        instructions to the Global Custodians
        that have become Registered
        Intermediaries, on ADP Vote Deadline
        Date. In capacity as Registered
        Intermediary, the Global Custodian
        will sign the Proxy Card and forward
        to the local custodian. If you are
        unsure whether your Global Custodian
        acts as Registered Intermediary,
        please contact ADP. Trades/Vote
        Instructions: Since France maintains
        a Verification Period, for vote
        instructions submitted that have a
        trade transacted (sell) for either
        the full security position or a
        partial amount after the vote
        instruction has been submitted to ADP
        and the Global Custodian advises ADP
        of the position change via the
        account position collection process,
        ADP has a process in effect which
        will advise the Global Custodian of
        the new account position available
        for voting. This will ensure that the
        local custodian is instructed to
        amend the vote instruction and
        release the shares for settlement of
        the sale transaction. This procedure
        pertains to sale transactions with a
0.7     Approve to renew the term of office                           Mgmt          For            *
        of Mr. Thierry Desmarest as a
        Director for a period of 3 years

<PAGE>

E.19    Authorize the Board of Directors, in                          Mgmt          For            *
        substitution for the authority of the
        Resolution 9 of the combined general
        meeting of 22 MAR 2000, to grant to
        the benefit of the Members to be
        chosen by it, stock options granting
        the right to purchase the Company s
        new and existing shares within a
        limit of 3% of the share capital, and
        to set the price of the said shares
        in accordance with the provisions of
        Articles L.225-177 to L.225-186 of
        the Commercial Law; Authority
        expires at the end of 38 months ; and
        authorize the Board of Directors to
        take all necessary measures and
        accomplish all necessary formalities
E.20    Authorize the Board of Directors, in                          Mgmt          For            *
        substitution for the authority of the
        Resolution 11 of the combined
        general meeting of 22 MAR 2000, to
        proceed with the preferential right,
        in France or aboard, with the issue
        of shares, equity warrants and the
        securities up to a nominal amount of
        EUR 4,000,000,000.00; Authority
        expires at the end of 26 months ; and
        authorize the Board of Directors to
        take all necessary measures and
        accomplish all necessary formalities
E.21    Authorize the Board of Directors to                           Mgmt          For            *
        proceed without the preferential
        right, in France or aboard, with the
        issue of securities up to a nominal
        amount of EUR 2,000,000,000.00
E.22    Approve the capital increase,                                 Mgmt          For            *
        reserved for the employees
O.1     Approve the reading of the Board of                           Mgmt          For            *
        Directors report and the general
        Auditors report and approve the
        accounts and the balance sheet of the
        Company total S.A. for the FY 2003
O.10    Appoint Mr. Daniel Boeuf as a                                 Mgmt        Against          *
        Director, in accordance with the
        provision of the Article 11, who
        represents the shareholding wage
        earners for a period of 3 years
O.11    PLEASE NOTE THAT THIS RESOLUTION IS A                          Shr        Against          *
        SHAREHOLDERS PROPOSAL: Appoint Mr.
        Philippe Marchandise as a Director,
        in accordance with the provision of
        the Article 11, who represents the
        shareholding wage earners for a
        period of 3 years

<PAGE>

O.12    PLEASE NOTE THAT THIS RESOLUTION IS A                          Shr        Against          *
        SHAREHOLDERS PROPOSAL: Appoint Mr.
        Cyril Mouche as a Director, in
        accordance with the provision of the
        Article 11, who represents the
        shareholding wage earners for a
        period of 3 years
O.13    PLEASE NOTE THAT THIS RESOLUTION IS A                          Shr          For            *
        SHAREHOLDERS PROPOSAL: Appoint Mr.
        Alan Cramer as a Director, in
        accordance with the provision of the
        Article 11, who represents the
        shareholding wage earners for a
        period of 3 years
O.14    Appoint firm Ernst and Young Audit in                         Mgmt          For            *
        place of the firm Barbier, Frinault
        and Autres, as the statutory auditor
        for a period of 6 years
O.15    Approve to renew the term of office                           Mgmt          For            *
        of the Firm KPMG Audit as the
        Statutory Auditor for a period of 6
O.16    Appoint Mr. Pierre Jouanne, who                               Mgmt          For            *
        replaces Mr. Alain Grosmann, as the
        Deputy Auditor for a period of 6
O.17    Appoint Mr. Jean-Luc Decornoy as the                          Mgmt          For            *
        Deputy Auditor, who replaces the firm
        Salustro Reydel, for a period of 6
        years
O.18    Approve the allocation of EUR                                 Mgmt          For            *
        900,000.00 to the Directors as the
        attendance fees
O.2     Receive the consolidated accounts and                         Mgmt          For            *
        that the Board of Directors report
        for the Group is included in the
        Board of Directors report
O.3     Approve the reports by the Board of                           Mgmt          For            *
        Directors and by the Auditors having
        been made available to the
        shareholders, the consolidated
        balance sheet and the consolidated
        financial statements of TOTAL S.A.
        for the FYE 31 DEC 2003
O.4     Approve the profits for the FY as                             Mgmt          For            *
        follows: EUR 3,272,172,931.00; prior
        retained earnings: EUR
        1,056,490,628.00; distributable
        profits: EUR 4,328,663,559.00 and
        approve the appropriation of the
        profits as follows: total number of
        shares: 655,130,985; global dividend:
        EUR 3,079,115,630.00; balance
        carried forward: EUR 1,249,547,929.00
        and shareholders will receive a net
        dividend of EUR 4.70 with a

<PAGE>

        corresponding tax credit
O.5     Authorize the Board, in substitution                          Mgmt          For            *
        for the authority of the Resolution 6
        of the Combined General Meeting of
        06 MAY 2003, to trade the Company s
        shares on the stock exchange, notably
        in view of adjusting their price as
        per the following conditions: maximum
        purchase price: EUR 250.00; minimum
        selling price: EUR 100.00; maximum
        number of shares to be traded: 10% of
        the share capital; authority
        expires at the end of 18 months ; and
        authorize the Board of Directors to
        take all necessary measures and
        accomplish all necessary formalities
O.6     Authorize the Board of Directors, in                          Mgmt          For            *
        France or abroad, in substitution for
        the authority of the Resolution 21
        of the combined general meeting of 22
        MAR 2000, with the issue of bond
        issues, subordinated or not, debt
        securities, subordinated or not
        permanently, up to a nominal amount
        of EUR 10,000,000,000.00; Authority
        expires at the end of 5 years
O.8     Approve to renew the term of office                           Non-
        of Mr. Thierry Derudder as a Director                        Voting
        for a period of 3 years
O.9     Approve to renew the term of office                           Mgmt          For            *
        of Mr. Serge Tchuruk as a Director
        for a period of 3 years

-------------------------------------------------------------------------------------------------------
UNIBAIL HOLDING                                                               Agenda: 700467233
     CUSIP: F95094110                         Meeting Type: MIX
    Ticker:                                   Meeting Date: 4/8/2004            ISIN: FR0000124711
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE THAT THE MEETING HELD ON                          Non-
        31 MAR 2004 HAS BEEN POSTPONED DUE TO                        Voting
        LACK OF QUORUM AND THAT THE SECOND
        CONVOCATION WILL BE HELD ON 08 APR
        2004. PLEASE ALSO NOTE THE NEW CUTOFF
        DATE. IF YOU HAVE ALREADY SENT YOUR
        VOTES, PLEASE DO NOT RETURN THIS
        PROXY FORM UNLESS YOU DECIDE TO AMEND
        YOUR ORIGINAL INSTRUCTIONS. THANK
1.      Receive the Board of Directors                                Mgmt          For            *
        report, and the general Auditors
        report, and approve the accounts and
        the balance sheet for the FY 2003

<PAGE>

10.     Grant all powers to the Board of                              Mgmt          For            *
        Directors, by replacing the present
        authority, to decrease the share
        capital by canceling the shares held
        by the Company in connection with a
        Stock Repurchase Plan, within a limit
        of 10% over a 24-month period;
        authority expires at the end of 18
        months ; and the present delegation
        cancels and replaces, for the period
        unused, the delegation given in
        Resolution No.11 as specified
11.     Grant all powers to the bearer of a                           Mgmt          For            *
        copy or an extract of the minutes of
        the present in order to accomplish
        all deposits and publications
        prescribed by law
2.      Acknowledge the consolidated accounts                         Mgmt          For            *
        were presented, and the Board of
        Directors report for the Group is
        included in the Board of Directors
        report
3.      Approve the appropriation of the                              Mgmt          For            *
        profits as follows: net dividend per
        share: EUR 3.50 profits for the FY:
        EUR 480,814,545.00; prior retained
        earnings: EUR 81,753,529.00;
        distributable profits: EUR
        562,568,074.00; global dividend: EUR
        157,502,923.00; and approve to charge
        the recorded profits of EUR
        405,065,151.00 to the retained
        profits account, and the shareholders
        will receive a net dividend with a
        corresponding tax credit of EUR 0.19,
        this dividend will be paid on 15 JUN
        2004
4.      Approve the Special Auditors report,                          Mgmt          For            *
        in accordance with the provisions of
        Article L.225-38 and following of the
        Commercial Law
5.      Approve to renew the term of office                           Mgmt          For            *
        of Mr. Jean-Claude Jolain as a
        Director for 2 years
6.      Approve to renew the term of office                           Mgmt          For            *
        of Mr. Henri Moulard as a Director
        for 2 years
7.      Approve to renew the term of office                           Mgmt          For            *
        of Mr. Jean-Jacques Rosa as a
        Director for 2 years
8.      Approve to set an amount of EUR                               Mgmt          For            *
        350,000.00 to be allocated to the
        Directors as attendance fees

<PAGE>

9.      Receive the Board of Directors                                Mgmt          For            *
        report, and authorize the Board of
        Directors to carry out the stock
        repurchase by the Company: maximum
        purchase price: EUR 90.00; minimum
        selling price: EUR 75.00; maximum
        number of shares to be traded: 10% of
        the share capital; and approve that
        the shares can be purchased,
        transferred or exchanged at any time
        and paid by any means on the stock
        exchange or by agreement; and approve
        that the shares can be cancelled;
        and authorize the Board of Directors
        to adjust the share maximum purchase
        price and the share minimum selling
        price; and approve that this
        authorization is given for a period
        of 18 months; and approve to delegate
        all powers to the Board of Directors
        to take all necessary measures and

-------------------------------------------------------------------------------------------------------
CAPITAL & REGIONAL PLC                                                        Agenda: 700507291
     CUSIP: G18676109                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 6/11/2004           ISIN: GB0001741544
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve and adopt the accounts for                            Mgmt          For            *
        the period ended 31 DEC 2003, and the
        reports of the Directors and
        Auditors thereon
2.      Declare a final dividend of 5p per                            Mgmt          For            *
        ordinary share
3.      Re-appoint Mr. T. Chandos as a                                Mgmt          For            *
        Director of the Company
4.      Re-appoint Mr. M. Barber as a                                 Mgmt          For            *
        Director of the Company
5.      Re-appoint Mr. H. Mautner as a                                Mgmt          For            *
        Director of the Company
6.      Re-appoint Mr. P. Stobart as a                                Mgmt          For            *
        Director of the Company
7.      Re-appoint Deloitte & Touche LLP as                           Mgmt          For            *
        the Auditors for the period
        prescribed by Section 385(2) of the
        Companies Act 1985 and authorize the
        Directors to determine their
        remuneration for the ensuing year
8.      Approve the Directors remuneration                            Mgmt          For            *
        report

<PAGE>

9.      Authorize the Directors for the                               Mgmt          For            *
        purposes of Section 80 of the
        Companies Act 1985, to allot relevant
        securities Section 80 up to an
        aggregate nominal amount of GBP
        2,037,333; Authority expires at the
        conclusion of the AGM of the Company
        in 2005 ; and the Company may allot
        relevant securities after the expiry
        of this authority in pursuance of
        such an offer or agreement made prior
        to such expiry
S.10    Authorize the Directors to disapply                           Mgmt          For            *
        the statutory pre-emption rights
S.11    Approve to make the market purchases                          Mgmt          For            *
        of the Company s own shares in
        compliance with Section 166 of the
        Companies Act 1985

-------------------------------------------------------------------------------------------------------
CHEN HSONG HOLDINGS LTD                                                       Agenda: 700394062
     CUSIP: G20874106                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 8/28/2003           ISIN: BMG208741063
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and approve the audited                               Mgmt          For            *
        financial statements and the reports
        of the Directors and the Auditors for
        the YE 31 MAR 2003
2.      Approve the payment of final dividend                         Mgmt          For            *
        recommended by the Directors in
        respect of the YE 31 MAR 2003
3.      Re-elect the retiring Directors and                           Mgmt          For            *
        approve to fix the Directors fees
4.      Appoint the Auditors and authorize                            Mgmt          For            *
        the Directors to fix their

-------------------------------------------------------------------------------------------------------
CHEN HSONG HOLDINGS LTD                                                       Agenda: 700398630
     CUSIP: G20874106                         Meeting Type: SGM
    Ticker:                                   Meeting Date: 8/28/2003           ISIN: BMG208741063
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

1.      Authorize the Directors of the                                Mgmt          For            *
        Company to repurchase its own shares
        during the relevant period, subject
        to and in accordance with all
        applicable laws and/or requirements
        of any recognized regulatory body or
        any stock exchange in, any territory
        applicable to the Company, not
        exceeding 10% of the aggregate
        nominal amount of the issued share
        capital of the Company at the date of
        passing this resolution; Authority
        expires the earlier of the conclusion
        of the next AGM or the expiration of
        the period within which the next AGM
        of the Company is to be held by law
2.      Authorize the Directors of the                                Mgmt        Against          *
        Company to allot, issue and deal with
        additional shares in the share
        capital of the Company and make or
        grant offers, agreements and options
        during and after the relevant period,
        not exceeding the aggregate of (aa)
        20% of the aggregate nominal amount
        of the issued share capital of the
        Company at the date of passing this
        resolution; and (bb) the nominal
        amount of share capital of the
        Company repurchased after passing of
        this resolution up to 10% of the
        aggregate nominal amount of the
        issued share capital , otherwise than
        pursuant to: i) a rights issue; or
        ii) the exercise of subscription or
        conversion under the terms of nay
        warrants or other securities issued
        by the Company carrying a right to
        subscribe for or purchase shares of
        the Company; or iii) the exercise of
        any option under any share option
        scheme of the Company adopted by its
        shareholders for the grant or issue
        to eligible persons options to
        subscribe for or rights to acquire
        shares of the Company; or iv) any
        scrip dividend or similar
        arrangement; and Authority expires
        the earlier of the conclusion of the
        next AGM of the Company or the
        expiration of the period within which
        the next AGM of the Company is to be

<PAGE>

3.      Approve to extend the general mandate                         Mgmt          For            *
        granted to the Directors of the
        Company to allot shares and make or
        grant offers, agreements and options
        pursuant to Resolution 2, by total
        nominal amount of shares in the
        capital of the Company repurchased by
        the Company pursuant to purchase
        such shares since granting of such
        general mandate pursuant to
        Resolution 1, provided that such
        amount does not exceed 10% of the
        total nominal amount of the issued
        share capital of the Company at the
        date of passing this resolution
S.4     Amend the Bye-laws of the Company by                          Mgmt          For            *
        deleting the existing words in the
        first and second lines of Bye-law
        96(B) and substitute with new words
S.5     Adopt the Company s Chinese name, for                         Mgmt          For            *
        the purpose of the Company s
        registration in Hong Kong under part
        XI of the Companies Ordinance Chapter
        32 of the laws of Hong Kong

-------------------------------------------------------------------------------------------------------
CHEUNG KONG INFRASTRUCTURE HOLDINGS LTD                                       Agenda: 700471270
     CUSIP: G2098R102                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/13/2004           ISIN: BMG2098R1025
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the audited Financial                                 Mgmt          For            *
        Statements and the Reports of the
        Directors and Auditors for the YE 31
        DEC 2003
2.      Declare a final dividend                                      Mgmt          For            *
3.      Elect the Directors                                           Mgmt          For            *
4.      Appoint Auditors and authorize the                            Mgmt          For            *
        Directors to fix their remuneration
5.1     Approve the mandate unconditionally                           Mgmt        Abstain          *
        given to the Directors to issue and
        dispose of additional shares not
        exceeding 20%, of the existing issued
        share capital of the Company at the
        date of the Resolution until the
        next AGM

<PAGE>

5.2     Approve the (a)subject to paragraph                           Mgmt        Abstain          *
        (b) below, the exercise by the
        Directors during the Relevant Period
        of all the powers of the Company to
        repurchase shares of HKD1.00 each in
        the capital of the Company in
        accordance with all applicable laws
        and the requirements of the Rules
        Governing the Listing of Securities
        on the Stock Exchange of HK Limited
        or of any other stock exchange as
        amended from time to time, be and is
        hereby generally and unconditionally
        approved; (b)the aggregate nominal
        amount of shares of the Company to be
        repurchased by the Company pursuant
        to the approval in paragraph (a)
        above shall not exceed 10% of the
        aggregate nominal amount of the share
        capital of the Company in issue at
        the date of this resolution, and the
        said approval shall be limited
        accordingly; and (c)for the purposes
        of this resolution, Relevant Period
        means the period from the passing of
        this Resolution until whichever is
        the earliest of: (i)the conclusion of
        the next AGM of the Company; (ii)the
        expiration of the period within the
        next AGM of the Company is required
        by law to be held; and (iii)the date
        on which the authority set out in
        this resolution is revoked or varied
        by an Ordinary Resolution of the
        shareholders in general meeting
5.3     Approve the general mandate granted                           Mgmt        Abstain          *
        to the Directors to issue and dispose
        of additional shares pursuant to
        Ordinary Resolution No. 5(1) set out
        in the notice convening this meeting
        be and is hereby extended by the
        addition thereto of an amount
        representing the aggregate nominal
        amount of the share capital of the
        Company repurchased by the Company
        under the authority granted pursuant
        to Ordinary Resolution No. 5(2) set
        out in the notice convening this
        meeting, provided that such amount
        shall not exceed 10% of the aggregate
        nominal amount of the issued shared
        capital of the Company at the date of
        the said Resolution

<PAGE>

-------------------------------------------------------------------------------------------------------
CHEUNG KONG INFRASTRUCTURE HOLDINGS LTD                                       Agenda: 700473096
     CUSIP: G2098R102                         Meeting Type: SGM
    Ticker:                                   Meeting Date: 5/13/2004           ISIN: BMG2098R1025
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
S.1     Amend the existing Bye-laws of the                            Mgmt          For            *
        Company as follows: a) by adding a
        new definition in Bye-law 1; b) by
        deleting the words as specified in
        Bye-law 1 and substituting
        thereafter; c) by renumbering
        existing Bye-law 76 as Bye-law 76(1)
        and adding the new Bye-law 76(2)
        thereafter; d) by renumbering
        existing Bye-law 84(2) as Bye-law
        84(3) and adding the new Bye-law
        84(2) before the re-numbered Bye-law
        84(3); e) by deleting the word
        special in the second line in Bye-law
        86(4) and substituting therefor the
        word ordinary; f) by deleting the
        existing Bye-law 87(1) in 87(1) in
        its entirety and substituting
        therefor, notwithstanding any other
        provisions in the Bye-laws; g) by
        deleting the words as specified from
        the existing Bye-law 88 and
        substituting therefor; h) by deleting
        the existing Bye-law 103 in its

-------------------------------------------------------------------------------------------------------
D.F.S FURNITURE COMPANY PLC                                                   Agenda: 700429827
     CUSIP: G27559106                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 12/1/2003           ISIN: GB0002424371
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the annual accounts of the                            Mgmt          For            *
        Company for the period ended 02 AUG
        2003, together with the reports of
        the Directors, the Director s
        remuneration report and the Auditor s
        report on those accounts and on the
        auditable part of the Directors
        remuneration report
11.     Approve, subject to the passing of                            Mgmt          For            *
        Resolution 10, any purchase by the
        Company pursuant to the authority
        conferred by Resolution 10 from
        Graham Kirkham and his associates as
        defined in Listing Rules of the
        Financial Services Authority

<PAGE>

12.     Approve and adopt the rules of the                            Mgmt          For            *
        DFS Company Share Option Plan Plan
        and authorize the Directors of the
        Company to obtain the approval of the
        Board of the Inland Revenue pursuant
        to Schedule 4 of the Income Tax
        (Earnings and Pensions) Act 2003 and
        authorize the Directors to establish
        further schemes pursuant to the Plan
2.      Declare a final dividend of 17.0p per                         Mgmt          For            *
        share on the ordinary shares
3.      Re-elect Mr. J.M. Blackburn as a                              Mgmt          For            *
        Director
4.      Re-elect Mr. M.C. Walker as a                                 Mgmt        Against          *
5.      Re-elect Mr. W.R. Barnes as a                                 Mgmt          For            *
6.      Approve the Directors remuneration                            Mgmt          For            *
        report
7.      Re-appoint KPMG Audit PLC as the                              Mgmt          For            *
        Auditor at a remuneration to be fixed
        by the Directors
8.      Approve to grant the authority                                Mgmt          For            *
        conferred on the Directors by Article
        4(B) of the Company s Articles of
        Association with the Section 80
        amount being GBP 1,606,053 Authority
        expires the earlier of the
        conclusion of the next AGM of the
S.10    Authorize the Company to make market                          Mgmt          For            *
        purchases Section 163(3) of the
        Companies Act 1985 of up to
        10,688,000 ordinary shares of 5p each
        in the capital of the Company, at a
        minimum price of 5p per share and up
        to 105% of the average middle market
        quotations for such shares derived
        from the London Stock Exchange Daily
        Official List, over the previous 5
        business days; Authority expires the
        earlier of the conclusion of the
        next AGM of the Company or 15 months
        ; the Company, before the expiry, may
        make a contract to purchase ordinary
        shares which will or may be executed
        wholly or partly after such expiry
S.9     Approve, subject to the passing of                            Mgmt          For            *
        Resolution 8, to grant the authority
        conferred on the Directors by Article
        4(C) of the Company s Articles of
        Association with the Section 89
        amount being GBP 267,214 Authority
        expires the earlier of the conclusion
        of the next AGM of the Company or 15

<PAGE>

-------------------------------------------------------------------------------------------------------
DIXONS GROUP PLC                                                              Agenda: 700403796
     CUSIP: G27806101                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 9/10/2003           ISIN: GB0000472455
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the Directors report, the                             Mgmt          For            *
        financial statements for the 53 weeks
        ended 3 MAY 2003 and the Auditors
        report thereon
10.     Authorize the Company to make                                 Mgmt          For            *
        donations to EU Political
        Organizations and to incur Political
        Expenditure in an aggregate amount
        not exceeding GBP 50,000 during the
        period of two years beginning with
        the date of the AGM in 2003, such
        amount shall extend to expenditure to
        be incurred either by the Company or
        its wholly owned subsidiary DSG
11.     Approve to renew the authority                                Mgmt          For            *
        conferred on the Directors for the
        period expiring five years from the
        date of passing this resolution and
        for such period the Section 80 amount
        shall be GBP 16,224,672
12.     Approve to renew the authority                                Mgmt          For            *
        conferred on the Directors for the
        period ending on the date of the AGM
        in 2004 or on 9 DEC 2004, and for
        such period the Section 89 amount
        shall be GBP 2,433,701
13.     Authorize the Company for the purpose                         Mgmt          For            *
        of Section 166 of the Companies Act,
        1985 to make market purchases of
        ordinary shares of 2.5p in the
        capital of the Company provided that
        the maximum number of ordinary shares
        which may be purchased is 194
        million, the minimum price which may
        be paid for a share of its nominal
        value; the maximum price which may be
        paid for a share is an amount equal
        to 105% of the average of the market
        quotations for an ordinary share for
        the five business days immediately
        preceding the day on which the share
        is contracted to be purchased;
        Authority expires at the conclusion
        of the AGM in 2004
2.      Declare a final dividend of 5.145                             Mgmt          For            *
        pence net per ordinary share for the
        53 weeks ended 3 MAY 2003

<PAGE>

3.      Re-appoint Mr. David Longbottom as a                          Mgmt          For            *
        Director
4.      Re-appoint Mr. Andrew Lynch as a                              Mgmt          For            *
        Director
5.      Re-appoint Mr. John Whybrow as a                              Mgmt          For            *
        Director
6.      Re-appoint Ms. Rita Clifton as a                              Mgmt          For            *
        Director
7.      Re-appoint Mr. John Clare as a                                Mgmt          For            *
8.      Re-appoint Deloitte & Touche LLP as                           Mgmt          For            *
        the Auditors of the Company until the
        end of the next AGM and authorize
        the Directors to fix their
9.      Approve the remuneration report for                           Mgmt          For            *
        the 53 weeks ended 3 MAY 2003

-------------------------------------------------------------------------------------------------------
FONG S INDUSTRIES CO LTD                                                      Agenda: 700508611
     CUSIP: G3615C107                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/25/2004           ISIN: BMG3615C1073
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and adopt the audited                                 Mgmt          For            *
        financial statements and the reports
        of the Directors and the Auditors for
        the YE 31 DEC 2003
2.      Declare a final dividend/special                              Mgmt          For            *
        dividend
3.      Re-elect the Directors and approve to                         Mgmt          For            *
        fix a maximum number of Directors
4.      Re-appoint Messrs. Deloitte Touche                            Mgmt          For            *
        Tohmatsu as the Auditors and
        authorize the Directors to fix their
5.      Transact any other business                                   Other         For            *

-------------------------------------------------------------------------------------------------------
FONG S INDUSTRIES CO LTD                                                      Agenda: 700508623
     CUSIP: G3615C107                         Meeting Type: SGM
    Ticker:                                   Meeting Date: 5/25/2004           ISIN: BMG3615C1073
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

1.      Authorize the Directors of the                                Mgmt          For            *
        Company to repurchase shares in the
        capital of the Company during the
        relevant period, on The Stock
        Exchange of Hong Kong Limited or any
        other stock exchange on which the
        shares of the Company have been or
        may be listed and recognized by the
        Securities and Futures Commission and
        the Stock Exchange for this purpose,
        subject to and in accordance with
        all applicable laws and the
        requirements of the Rules Governing
        the Listing of Securities on the
        Stock Exchange or on any other stock
        exchange, not exceeding 10% of the
        aggregate nominal amount of the
        issued share capital of the Company;
        Authority expires the earlier of the
        conclusion of the next AGM of the
        Company or the expiration of the
        period within which the next AGM of
2.      Authorize the Directors of the                                Mgmt          For            *
        Company to allot, issue and deal with
        additional shares in the capital of
        the Company and make or grant offers,
        agreements and options during and
        after the relevant period, not
        exceeding 20% of the aggregate
        nominal amount of the issued share
        capital of the Company otherwise than
        pursuant to: a) a rights issue; or b)
        the exercise of subscription rights
        under any option scheme or similar
        arrangement; or c) any issue of
        shares pursuant to exercise of rights
        of subscription or conversion under
        the terms of any existing warrants,
        bonds, debentures, notes and other
        securities of the Company which carry
        rights to subscribe for or are
        convertible into shares of the
        Company; or d) any scrip dividend or
        similar arrangement; and Authority
        expires the earlier of the conclusion
        of the next AGM of the Company or the
        expiration of the period within which
        the next AGM is to be held by

<PAGE>

3.      Approve to extend the general mandate                         Mgmt          For            *
        granted to the Directors of the
        Company to allot, issue and deal with
        any additional shares of the Company
        pursuant to Resolution 2, by an
        amount representing the aggregate
        nominal amount of the share capital
        repurchased by the Company pursuant
        to Resolution 1, provided that such
        amount does not exceed 10% of the
        aggregate nominal amount of the
        issued share capital of the Company
        at the date of passing this
S.4     Amend the existing Bye-Laws of the                            Mgmt          For            *
        Company as follows: A) Bye-Law 1; B)
        Bye-Law 15; C) Bye-Law 36; D) Bye-Law
        37; E) Bye-Law 43; F) Bye-Law 44; G)
        Bye-Law 76A; H) Bye-Law 84; I) Bye-
        Law 92; J) Bye-Law 98; K) Bye-Law
        103; L) Bye-Law 162(A); M) Bye-Law
        167; N) Bye-Law 167A; O) Bye-Law 168;
        P) Bye-Law 169; and Q) Bye-Law 170

-------------------------------------------------------------------------------------------------------
GALLAHER GROUP PLC, LONDON                                                    Agenda: 700488275
     CUSIP: G3708C105                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/12/2004           ISIN: GB0003833695
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the report of the Directors                           Mgmt          For            *
        and the accounts for the YE 31 DEC
        2003 and the Auditors report thereon
10.     Authorize the Company, for the                                Mgmt          For            *
        purpose of the Companies Act 1985
        the Act , to make donations to EU
        political organization and to incur
        EU political expenditure Section
        347A of the Act , up to a maximum
        aggregate amount of GBP 50,000 per
        annum ; Authority expires at the
        conclusion of the Company s AGM to be
11.     Authorize Gallaher Limited, for the                           Mgmt          For            *
        purpose of the Companies Act 1985
        the Act , to make donations to EU
        political organization and to incur
        EU political expenditure Section
        347A of the Act , up to a maximum
        aggregate amount of GBP 50,000 per
        annum ; Authority expires at the
        conclusion of the Company s AGM to be

<PAGE>

12.     Authorize Austria Tabak AG & Co. KG,                          Mgmt          For            *
        for the purpose of the Companies Act
        1985 the Act , to make donations to
        EU political organization and to
        incur EU political expenditure
        Section 347A of the Act , up to a
        maximum aggregate amount of GBP
        50,000 per annum ; Authority expires
        at the conclusion of the Company s
13.     Authorize the Board, for the purpose                          Mgmt          For            *
        of Article 10 of the Company s
        Articles of Association whether or
        not such Article 10 is amended
        pursuant to Resolution 16 , the
        Section 80 amount shall be GBP
        21,790,500; Authority expires the
        earlier of the conclusion of next AGM
        of the Company to be held in 2005 or
        11 AUG 2005 , but during this period
        the Board may make offers and enter
        into agreements which would, or might
        need relevant securities to be
        allotted after this period
2.      Declare a final dividend of 20.15p                            Mgmt          For            *
        per ordinary share for the YE 31 DEC
        2003 payable on 21 MAY 2004 to the
        shareholders on the register at the
        close of business on 19 MAR 2004
3.      Approve the Directors remuneration                            Mgmt          For            *
        report in the annual report and the
        financial statements 2003
4.      Re-elect Mr. Nigel Northridge as a                            Mgmt          For            *
        Director of the Company
5.      Re-elect Mr. Mark Rolfe as a Director                         Mgmt          For            *
        of the Company
6.      Re-elect Mr. Neil England as a                                Mgmt          For            *
        Director of the Company
7.      Re-elect Mr. Richard Delbridge as a                           Mgmt          For            *
        Director of the Company
8.      Elect Mr. Ronnic Bell as a Director                           Mgmt          For            *
        of the Company
9.      Re-appoint PricewaterhouseCoopers LLP                         Mgmt          For            *
        as the Auditors of the Company, and
        authorize the Directors to fix the
        Auditors remuneration

<PAGE>

S.14    Authorize the Board, for the purpose                          Mgmt          For            *
        of Article 10 of the Company s
        Articles of Association whether or
        not such Article 10 is amended
        pursuant to Resolution 16 , the
        Section 89 amount shall be GBP
        3,268,500; Authority expires the
        earlier of the conclusion of next AGM
        of the Company to be held in 2005 or
        11 AUG 2005 , but during this period
        the Board may make offers and enter
        into agreements which would, or might
        need equity securities to be allotted
        after this period
S.15    Authorize the Company, to make market                         Mgmt          For            *
        purchases Section 163(3) of the
        Companies Act 1985 of up to
        65,372,200 ordinary shares of 10p
        each in the capital of the Company,
        at a minimum price of 10p and not
        more than 105% above the average
        market value for such shares derived
        from the London Stock Exchange Daily
        Official List, over the previous 5
        business days; Authority expires the
        earlier of the conclusion of next AGM
        of the Company to be held in 2005 or
        11 AUG 2005 ; the Company, before the
        expiry, may make a contract to
        purchase ordinary shares which will
        or may be executed wholly or partly
        after such expiry
S.16    Amend Article 10.1(B), 10.2, 10.2(B)                          Mgmt          For            *
        of the Company s Articles of
        Association
S.17    Amend Articles of Association, by                             Mgmt          For            *
        changing the amount GBP 500,00
        specified in the first sentence of
        Article 90 to an amount of GBP
        1,000,000

-------------------------------------------------------------------------------------------------------
GREENE KING PLC (FORMERLY GREENE KING & SONS                                  Agenda: 700398351
PLC)
     CUSIP: G40880109                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 8/29/2003           ISIN: GB0003872420
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and adopt the report of the                           Mgmt          For            *
        Directors and the accounts for the YE
        04 MAY 2003 and then Auditors
2.      Declare a net final dividend of 21.3p                         Mgmt          For            *
        per ordinary share
3.      Re-elect Mr. Alan Bowkett as a                                Mgmt          For            *
        Director of the Company

<PAGE>

4.      Re-appoint Ernst & Young LLP and                              Mgmt          For            *
        authorize the Directors to fix their
        remuneration
5.      Approve the Directors remuneration                            Mgmt        Against          *
        report for the YE 04 MAY 2003
6.      Approve the rules of the Greene King                          Mgmt          For            *
        PLC Long-Term Incentive Plan 2003
        Plan ; and authorize the Directors,
        to make such modifications to the
        Plan as they may consider necessary
        to take account of the requirements
        of the UK Listing Authority and best
        practice and to adopt the Plan and do
        all such acts and things necessary to
        operate the Plan and to vote in favor
        of any matter connected with the Plan
        notwithstanding that they may be
        interested in the same, except that
        no Director may be counted in a
        quorum or vote in respect of his own
        participation, subject to the
        relaxation of the provisions of the
        Articles of Association of the
S.7     Authorize the Directors, in                                   Mgmt          For            *
        accordance with Article 11 of the
        Articles of Association of the
        Company and for the purpose of
        Section 80 of the Companies Act 1985,
        to allot relevant securities up to an
        aggregate nominal amount of GBP
        5,966,260; Authority expires the
        earlier of the next AGM of the
        Company or 15 months ; and the
        Directors may allot relevant
        securities after the expiry of this
        authority in pursuance of such an
S.8     Approve to renew the authority and                            Mgmt          For            *
        powers conferred on the Directors by
        Article 11 of the Articles of
        Association of the Company, to allot
        securities up to GBP 894,939 Section
        89 amount ; Authority expires the
        earlier of the next AGM in 2004 or 15
        months ; and the Directors may allot
        equity securities after the expiry
        of this authority in pursuance of
        such an offer or agreement made prior
        to such expiry

<PAGE>

S.9     Authorize the Company, for the                                Mgmt          For            *
        purpose of Section 166 of the
        Companies Act 1985, to make market
        purchases Section 163 of up to
        7,159,513 ordinary shares of 25p each
        in the capital of the Company, at a
        minimum price of 25p and up to 105%
        of the average middle market
        quotations for such shares derived
        from the London Stock Exchange Daily
        Official List, over the previous 5
        business days; Authority expires the
        earlier of the next AGM of the
        Company or 15 months ; the Company,
        before the expiry, may make a
        contract to purchase ordinary shares
        which will or may be executed wholly

-------------------------------------------------------------------------------------------------------
HAYS PLC                                                                      Agenda: 700419864
     CUSIP: G4361D109                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 11/19/2003          ISIN: GB0004161021
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and adopt the account for the                         Mgmt       No Action         *
        YE 30 JUN 2003 and the reports of
        the Directors and the Auditors
10.     Approve to renew the authority                                Mgmt       No Action         *
        conferred on the Directors by Article
        7.1 of the Company s Articles of
        Association, for that period the
        Section 80 amount of GBP 5,783,762;
        Authority expires at the conclusion
        of the next AGM of the Company
2.      Declare a final dividend for the YE                           Mgmt       No Action         *
        30 JUN 2003
3.      Approve the Board s report on the                             Mgmt       No Action         *
        remuneration
4.      Re-elect Mr. J.W. Martin as a                                 Mgmt       No Action         *
        Director, who retires in accordance
        with the Company s Articles of
        Association
5.      Re-elect Mr. X.F.E. Urbain as a                               Mgmt       No Action         *
        Director, who retires from the Board
        by rotation in accordance with the
        Company s Articles of Association
6.      Re-elect Mr. B.G. Wallace as a                                Mgmt       No Action         *
        Director, who retires from the Board
        by rotation in accordance with the
        Company s Articles of Association
7.      Re-elect Mr. D.R. Waxman as a                                 Mgmt       No Action         *
        Director, who retires from the Board
        by rotation in accordance with the
        Company s Articles of Association

<PAGE>

8.      Re-appoint Deloitte & Touche LLP as                           Mgmt       No Action         *
        the Auditors of the Company until the
        conclusion of the next AGM
9.      Authorize the Directors to agree the                          Mgmt       No Action         *
        remuneration of the Auditors of the
        Company
S.11    Approve to renew, subject to the                              Mgmt       No Action         *
        passing of Resolution 10, the
        authority conferred on the Directors
        by Article 7.2 of the Company s
        Articles of Association, for that
        period the Section 89 amount of GBP
        857,564; Authority expires at the
        conclusion of the next AGM of the
        Company
S.12    Authorize the Company to make market                          Mgmt       No Action         *
        purchases Section 163 of the
        Companies Act 1985 of up to
        260,000,000 ordinary shares of 1p
        each in the capital of the Company,
        at a minimum price of 1p and up to
        105% of the average middle market
        quotations for such shares derived
        from the Daily Official List
        Authority, over the previous 5
        business days; and Authority expires
        the earlier of the conclusion of the
        next AGM of the Company or 31 DEC
        2004 ; the Company, before the
        expiry, may make a contract to
        purchase ordinary shares which will
        or may be executed wholly or partly

-------------------------------------------------------------------------------------------------------
HAYS PLC                                                                      Agenda: 700419852
     CUSIP: G4361D109                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 11/19/2003          ISIN: GB0004161021
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve and adopt the Hays Long Term                          Mgmt       No Action         *
        Co-Investment Plan the Plan and
        authorize the Directors to do all
        such acts and things as they may
        consider necessary or expedient to
        carry the Plan into effect
S.2     Approve and adopt the regulations                             Mgmt       No Action         *
        contained in the document produced to
        the meeting and initialled by the
        Chairman for the purposes of
        identification as the Articles of
        Association of the Company in
        substitution for, and to the
        exclusion of, all existing Articles
        of Association

<PAGE>

-------------------------------------------------------------------------------------------------------
HILTON GROUP PLC                                                              Agenda: 700487300
     CUSIP: G45098103                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/21/2004           ISIN: GB0005002547
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and adopt the reports of the                          Mgmt          For            *
        Directors and Auditor and the
        accounts of the Company for the YE 31
2.      Declare a final dividend of 5.52p on                          Mgmt          For            *
        each of the 10p ordinary shares for
        the YE 31 DEC 2003 payable on 01 JUN
        2004
3.1     Re-appoint Sir Ian Robinson as a                              Mgmt          For            *
        Director of the Company
3.2     Re-appoint Mr. L.P. Lupo as a                                 Mgmt          For            *
        Director of the Company
3.3     Re-appoint Mr. I.P. Livingston as a                           Mgmt          For            *
        Director of the Company
3.4     Re-appoint Mr. C.J. Rodrigues as a                            Mgmt          For            *
        Director of the Company
4.      Re-appoint PricewaterhouseCoopers LLP                         Mgmt          For            *
        as the Auditor of the Company and
        authorize the Directors to fix their
        remuneration
5.1     Approve the 2003 Directors                                    Mgmt          For            *
        remuneration report
5.2     Authorize the Company, for the                                Mgmt          For            *
        purposes of Part XA of the Companies
        Act 1985, to make donations to EU
        political organizations up to GBP
        15,000 and to incur EU political
        expenditure up to GBP 15,000; and
        authorize Ladbrokes Limited, a wholly
        owned subsidiary of the Company, for
        the purposes of Part XA of the
        Companies Act 1985, to make donations
        to EU political organizations up to
        GBP 35,000 and to incur EU political
        expenditure up to GBP 35,000;
        Authority expires at the conclusion
        of the next AGM
5.3     Approve to increase the share capital                         Mgmt          For            *
        of the Company from GBP 216,000,000
        to GBP 226,000,000 by the creation of
        100,000,000 additional ordinary
        shares of 10p each in the capital of
        the Company

<PAGE>

5.4     Authorize the Directors, for the                              Mgmt          For            *
        purposes of Section 80 of the
        Companies Act 1985, to allot relevant
        securities Section 80(2) up to an
        aggregate nominal amount of GBP
        52,700,00; Authority expires the
        earlier of AGM of the Company in 2005
        or 20 AUG 2005 ; and the Directors
        may allot relevant securities after
        the expiry of this authority in
        pursuance of such an offer or
        agreement made prior to such expiry
S.5.5   Authorize the Directors, to allot                             Mgmt          For            *
        equity securities for cash, pursuant
        to Section 94 of the Companies Act
        1985 and subject to the passing of
        Resolution 5.4, disapplying the
        statutory pre-emption rights Section
        89(1) of the Companies Act 1985 ,
        provided that this power is limited
        to the allotment of equity
        securities: a) up to an aggregate
        nominal amount of GBP 7,911,979; b)
        up to an aggregate nominal amount of
        GBP 52,700,000 in connection with a
        rights issue in favor of ordinary
        shareholders; Authority expires the
        earlier of AGM of the Company in 2005
        or 20 AUG 2005 ; and the Directors
        may allot equity securities after the
        expiry of this authority in
        pursuance of such an offer or
        agreement made prior to such expiry
S.5.6   Authorize the Company to make market                          Mgmt          For            *
        purchases Section 163(3) of the
        Companies Act 1985 of up to
        158,239,580 ordinary shares of the
        Company of 10p each in the capital of
        the Company, at a minimum price of
        10p and up to 105% of the average
        middle market quotations for such
        shares derived from the London Stock
        Exchange Daily Official List, over
        the previous 5 business days;
        Authority expires the earlier of AGM
        of the Company in 2005 or 20 AUG 2005
        ; the Company, before the expiry,
        may make a contract to purchase
        ordinary shares which will or may be
        executed wholly or partly after such

<PAGE>

-------------------------------------------------------------------------------------------------------
HONGKONG LAND HOLDINGS LTD                                                    Agenda: 700489378
     CUSIP: G4587L109                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/5/2004            ISIN: BMG4587L1090
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the financial statements and                          Mgmt          For            *
        the Independent Auditors report for
        the YE 2003 and declare a final
        dividend
2.A     Re-elect Mr. Jenkin Hui as a Director                         Mgmt          For            *
2.B     Re-elect Mr. Brian Keelan as a                                Mgmt          For            *
2.C     Re-elect Mr. Henry Keswick as a                               Mgmt          For            *
        Director
3.      Approve to fix the Directors fees                             Mgmt          For            *
4.      Re-appoint the Auditors and authorize                         Mgmt          For            *
        the Directors to fix their
5.      Approve to renew the exercise by the                          Mgmt          For            *
        Directors during the Relevant Period
        for the purposes of this Resolution,
        Relevant Period being the period from
        the passing of this Resolution until
        the earlier of the conclusion of the
        next AGM, or the expiration of the
        period within which such meeting is
        required by law to be held, or the
        revocation or variation of this
        Resolution by an ordinary resolution
        of the shareholders of the Company in
        general meeting of all powers of the
        Company to allot or issue shares and
        to make and grant offers, agreements
        and options which would or might
        require shares to be allotted, issued
        or disposed of during or after the
        end of the Relevant Period, be and is
        hereby generally and unconditionally
        approved; and (b) the aggregate
        nominal amount of share capital
        allotted or agreed conditionally or
        unconditionally to be allotted
        (whether pursuant to an option or
        otherwise) by the Directors pursuant
        to the approval in paragraph (a),
        otherwise than pursuant to a Rights
        Issue (for the purposes of this
        Resolution, Rights Issue being an
        offer of shares or other securities
        to holders of shares or other
        securities on the Register on a fixed
        record date in proportion to their
        then holdings of such shares or other
        securities or otherwise in accordance
        with the rights attaching

<PAGE>

        thereto (subject to such exclusions
        or other arrangements as the
        Directors may deem necessary or
        expedient in relation to fractional
        entitlements or legal or practical
        problems under the laws of, or the
        requirements of any recognized
        regulatory body or any stock exchange
        in, any territory)), shall not exceed
        USD 11.4 million, and the said
6.      Approve: (a) the exercise by the                              Mgmt          For            *
        Directors of all powers of the
        Company to purchase its own shares,
        subject to and in accordance with all
        applicable laws and regulations,
        during the Relevant Period for the
        purposes of this Resolution, Relevant
        Period being the period from the
        passing of this Resolution until the
        earlier of the conclusion of the next
        AGM, or the expiration of the period
        within which such meeting is required
        by law to be held, or the revocation
        or variation of this Resolution by an
        ordinary resolution of the
        shareholders of the Company in
        general meeting be and is hereby
        generally and unconditionally
        approved; (b) the aggregate nominal
        amount of shares of the Company
        purchased by the Company pursuant to
        the approval in point (a) of this
        Resolution shall be less than 15% of
        the aggregate nominal amount of the
        existing issued share capital of the
        Company at the date of this meeting,
        and such approval shall be limited
        accordingly; and (c) the approval in
        point (a) of this Resolution shall,
        where permitted by applicable laws
        and regulations and subject to the
        limitation in paragraph (b) of this
        Resolution, extend to permit the
        purchase of shares of the Company (i)
        by subsidiaries of the Company and
        (ii) pursuant to the terms of put
        warrants or financial instruments
        having similar effect (Put Warrants)
        whereby the Company can be required
        to purchase its own shares, provided
        that where Put Warrants are issued or
        offered pursuant to a Rights Issue
        (as defined in Resolution 4 above)
        the price which the Company may pay
        for shares purchased on exercise of
        Put Warrants shall not exceed 15%
        more than the average of the market

<PAGE>

        quotations for the shares for a
        period of not more than 30 nor less
        than the five dealing days falling
        one day prior to the date of any
        public announcement by the Company of

-------------------------------------------------------------------------------------------------------
HSBC HOLDINGS PLC                                                             Agenda: 700491602
     CUSIP: G4634U169                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/28/2004           ISIN: GB0005405286
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and consider the annual                               Mgmt          For            *
        accounts and the reports of the
        Directors and the Auditors for the YE
        31 DEC 2003
2.a     Re-elect the Lord Butler as a                                 Mgmt          For            *
2.b     Re-elect the Baroness Dunn as a                               Mgmt          For            *
        Director
2.c     Re-elect Mr. R. A. Fairhead as a                              Mgmt          For            *
        Director
2.d     Re-elect Mr. W.K.L. Fung as a                                 Mgmt          For            *
2.e     Re-elect Mr. M. F. Geoghegan as a                             Mgmt          For            *
        Director
2.f     Re-elect Mr. S. Hintze as a Director                          Mgmt          For            *
2.g     Re-elect Sir John Kemp-Welch as a                             Mgmt          For            *
        Director
2.h     Re-elect Sir Mark Moody-Stuart as a                           Mgmt          For            *
        Director
2.i     Re-elect Mr. H. Sohmen as a Director                          Mgmt          For            *
3.      Re-appoint KPMG Audit Plc as Auditor                          Mgmt          For            *
        at remuneration determined by the
        Group Audit Committee
4.      Approve the Directors Remuneration                            Mgmt          For            *
        report for the YE 31 DEC 2003
5.      Authorize the Company to make market                          Mgmt          For            *
        purchases Section 163 of the
        Companies Act 1985 of up to
        1,099,900,000 ordinary shares of USD
        0.50 each in the capital of the
        Company, at a minimum price of USD
        0.50 pence and up to 105% of the
        average middle market quotations for
        such shares derived from the London
        Stock Exchange Daily Official List,
        over the previous 5 business days or
        105% of the average of the closing
        prices of ordinary shares on The
        Stock Exchange of Hong Kong Limited,
        over the previous 5 business days;
        Authority expires at the conclusion
        of the AGM of the Company in 2005 ;
        the Company, before the expiry, may

<PAGE>

        make a contract to purchase ordinary
        shares which will or may be executed
        wholly or partly after such expiry
6.      Authorize the Directors, pursuant to                          Mgmt          For            *
        and for the purposes of Section 80 of
        the Companies Act 1985, to allot
        relevant securities Section 80 up to
        an aggregate nominal amount of GBP
        100,000, USD 100,000 and EUR 100,000
        in each such case in the form of
        100,000,000 non-cumulative preference
        shares and USD 1,099,900,000 in the
        form of ordinary shares ordinary
        shares of USD 0.50 each , provided
        that this authority is limited, so
        that, otherwise than pursuant to: a)
        a rights issue or other issue the
        subject of an offer or invitation,
        open for acceptance for a period
        fixed by the Directors, to: i)
        ordinary shareholders where the
        relevant securities respectively
        attributable to the interest of all
        ordinary shareholders are
        proportionate to the respective
        number of ordinary shares held by
        them; and ii) holders of securities,
        bonds, debentures or warrants which,
        in accordance with the rights
        attaching thereto, are entitled to
        participate in such a rights issue or
        other issues, but subject to such
        exclusion or other arrangements as
        the Directors deem necessary in
        relation to fractional entitlements
        or securities represented by
        depositary receipts or having regard
        to any restrictions, obligations or
        legal problems under the laws or or
        the requirements of any regulatory
        body or stock exchange in any
        territory or otherwise howsoever; or
        b) the terms of any share plan for
        the employees of the Company or any
        of its subsidiary undertakings; or c)
        the terms of the Household
        International Inc. outstanding Zero-
        Coupon Convertible Debt Securities or
        8.875% adjustable conversion-Rate
        Equity security Units; or d) any
        scrip dividend or similar arrangement
        implemented in accordance with the
        Articles of Association of the
        Company; or e) the allotment of up to
        10,000,000 non-cumulative preference
        shares of GBP 0.01 each, 100,000,000
        non-cumulative preference shares of

<PAGE>

        USD 0.01 each and 10,000,000 non-
        cumulative preference shares of EUR
        0.01 each in the capital of the
        Company, the nominal amount of
        relevant securities to be allotted by
        the Directors pursuant to this
        authority wholly for cash shall not
        in aggregate, together with any
        allotment of other equity securities,
        exceed USD 274,975,000 approximately
        5% of the nominal amount of ordinary
        shares of the Company in issue ;
        Authority expires at the conclusion
        of the AGM of the Company in 2005 ;
        and authorize the Directors to allot
        relevant securities after the expiry
        of this authority in pursuance of
        such an
8.      Authorize each of the Directors other                         Mgmt          For            *
        than alternate Directors , pursuant
        to Article 104.1 of the Articles of
        Association of the Company with
        effect from 01 JAN 2004, to receive
        GBP 55,000 per annum by way of fees
        for their services as Directors
S.7     Authorize the Directors, subject to                           Mgmt          For            *
        the passing of Resolution 6, a) to
        allot equity securities Section 94
        of the Companies Act 1985 ; and b) to
        allot any other equity securities
        Section 94 of the Companies Act 1985
        which are held by the Company in
        treasury, for cash pursuant to the
        authority conferred by Resolution 6,
        disapplying the statutory pre-emption
        rights Section 89(1) ; Authority
        expires at the conclusion of the AGM
        of the Company in 2005 ; and
        authorize the Directors to allot
        equity securities after the expiry of
        this authority in pursuance of such
        an offer or agreement made prior to
        such expiry

-------------------------------------------------------------------------------------------------------
HUNTING PLC (FORMERLY HUNTING GIBSON                                          Agenda: 700474036
PLC/HUNTING GROUP PLC)
     CUSIP: G46648104                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/27/2004           ISIN: GB0004478896
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the report of the Directors                           Mgmt          For            *
        and the accounts for the YE 31 DEC
2.      Approve the Remuneration Committee s                          Mgmt          For            *
        report for the YE 31 DEC 2003

<PAGE>

3.      Declare a final dividend of 2.25p per                         Mgmt          For            *
        ordinary share
4.      Re-elect Mr. D. L. Proctor as a                               Mgmt          For            *
        Director, who retires by rotation in
        accordance with the Articles of
        Association of the Company
5.      Re-elect Mr. I. S. Paterson as a                              Mgmt          For            *
        Director, who retires by rotation in
        accordance with the Articles of
        Association of the Company
6.      Re-appoint PricewaterhouseCoopers LLP                         Mgmt          For            *
        as the Auditors of the Company until
        the conclusion of the next general
        meeting at which financial statements
        are laid and authorize the Directors
        to determine their remuneration
S.7     Authorize the Company to make market                          Mgmt          For            *
        purchases Section 163(3) of up to
        10,102,028 ordinary shares of 25
        pence each in the capital of the
        Company, at a minimum price of 25
        pence and up to 105% of the average
        middle market quotations for such
        shares derived from the London Stock
        Exchange Daily Official List, over
        the previous 5 business days;
        Authority expires the earlier of the
        conclusion of the next AGM of the
        Company or 15 months ; the Company,
        before the expiry, may make a
        contract to purchase ordinary shares
        which will or may be executed wholly

-------------------------------------------------------------------------------------------------------
HUNTING PLC (FORMERLY HUNTING GIBSON                                          Agenda: 700440352
PLC/HUNTING GROUP PLC)
     CUSIP: G46648104                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 12/19/2003          ISIN: GB0004478896
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve that the acquisition by the                           Mgmt       No Action         *
        Company of all the issued and
        outstanding common shares in the
        capital of the Gibson Holdings Ltd.,
        not already owned by the Company the
        Acquisition and that the Directors of
        the Company are authorized to
        complete the Acquisition in
        accordance with its terms with such
        modifications, variations, amendments
        or revisions as they think fit
        provided such modifications,
        variations, amendments or revisions
        are not of a material nature

<PAGE>

-------------------------------------------------------------------------------------------------------
HUNTING PLC (FORMERLY HUNTING GIBSON                                          Agenda: 700496993
PLC/HUNTING GROUP PLC)
     CUSIP: G46648104                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 4/27/2004           ISIN: GB0004478896
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve the Hunting PLC long term                             Mgmt          For            *
        Incentive Plan as summarized in the
        circular to shareholders of the
        Company 07 APR 2004 a copy of which
        is produced to the meeting and for
        the purposes of identification
        initialed by the chairman and
        authorize the Directors to do all
        such acts and things necessary or
        desirable to carry the same in to

-------------------------------------------------------------------------------------------------------
HUNTING PLC (FORMERLY HUNTING GIBSON                                          Agenda: 700539072
PLC/HUNTING GROUP PLC)
     CUSIP: G46648104                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 6/30/2004           ISIN: GB0004478896
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
S.1     Approve to reduce the capital of the                          Mgmt          For            *
        Company by canceling and
        extinguishing all of the 8.25%
        cumulative convertible preference
        shares of GBP 1 in the Company both
        issued and unissued and repaying to
        the holders on the register of
        Members when the cancellation becomes
        effective the sum of GBP 1 for each
        issued 8.25% cumulative convertible
        preference share, together with all
        arrears and accruals of the
        cumulative preferential dividend
        thereon calculated down to the date
        of the repayment of capital; and upon
        reduction of capital, amend the
        Company s Articles of Association by
        deletion of all references to the
        convertible preference shares

-------------------------------------------------------------------------------------------------------
IMPERIAL TOBACCO GROUP PLC                                                    Agenda: 700443637
     CUSIP: G4721W102                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 2/3/2004            ISIN: GB0004544929
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the report of the Directors                           Mgmt          For            *
        and the accounts for the FYE 30 SEP
        2003
10.     Re-appoint PricewaterhouseCoopers as                          Mgmt          For            *

<PAGE>

        the Auditors of the Company and
        authorize the Directors to determine
        their remuneration
11.     Approve that, in accordance with                              Mgmt          For            *
        Article 86 of the Articles of
        Association of the Company, the
        maximum number of Directors of the
        Company be and is hereby increased
        from 12 to 16
12.a    Authorize the Company and its                                 Mgmt          For            *
        Directors, for the purposes of Part
        XA of the Companies Act 1985, to make
        donations to EU political
        organizations and to incur EU
        political expenditure up to an
        aggregate amount of GBP 100,000;
        Authority expires at the conclusion
        of the AGM of the Company in 2005
12.b    Authorize Imperial Tobacco Limited                            Mgmt          For            *
        and its Directors, for the purposes
        of Part XA of the Companies Act 1985,
        to make donations to EU political
        organizations and to incur EU
        political expenditure up to an
        aggregate amount of GBP 100,000;
        Authority expires at the conclusion
        of the AGM of the Company in 2005
12.c    Authorize Imperial Tobacco                                    Mgmt          For            *
        International Limited and its
        Directors, for the purposes of Part
        XA of the Companies Act 1985, to make
        donations to EU political
        organizations and to incur EU
        political expenditure up to an
        aggregate amount of GBP 100,000;
        Authority expires at the conclusion
        of the AGM of the Company in 2005
12.d    Authorize Van Nelle Tabak Nederland                           Mgmt          For            *
        B.V. and its Directors, for the
        purposes of Part XA of the Companies
        Act 1985, to make donations to EU
        political organizations and to incur
        EU political expenditure up to an
        aggregate amount of GBP 100,000;
        Authority expires at the conclusion
        of the AGM of the Company in 2005
12.e    Authorize John Player & Sons Limited                          Mgmt          For            *
        and its Directors, for the purposes
        of Part XA of the Companies Act 1985,
        to make donations to EU political
        organizations and to incur EU
        political expenditure up to an
        aggregate amount of GBP 100,000;
        Authority expires at the conclusion
        of the AGM of the Company in 2005

<PAGE>

12.f    Authorize Reemtsma Cigarertenfabrlken                         Mgmt          For            *
        GmbH and its Directors, for the
        purpose of Part XA of the Companies
        Act 1985 to make donations to EU
        political organizations and to incur
        EU political expenditure up to an
        aggregate amount of GBP 100,000;
        Authority expires at the conclusion
        of the AGM of the Company in 2005
12.g    Authorize Compagnie Independante des                          Mgmt          For            *
        Tabacs S.A and its Directors, for the
        purpose of Part XA of the Companies
        Act 1985 to make donations to EU
        political organizations and to incur
        EU political expenditure up to an
        aggregate amount of GBP 100,000;
        Authority expires at the conclusion
        of the AGM of the Company in 2005
13.     Approve to renew the authorization                            Mgmt          For            *
        given to the Board to grant options
        to employees resident in France of
        any Group Company under the Imperial
        Tobacco Group International Sharesave
        Plan, that are capable of benefiting
        from any available perferential tax
        and social security treatment for a
        period of 38 months from the date of
        the AGM
14.     Authorize the Directors, for the                              Mgmt          For            *
        purposes of Section 80 of the
        Companies Act 1985, to allot
        relevant securities Section 80(2)
        up to an aggregate nominal amount of
        GBP 24,300,000; Authority expires
        earlier of, at the conclusion of the
        next AGM of the Company, or on 01 AUG
        2005 ; and, authorize the Directors
        to allot relevant securities after
        the expiry of this authority in
        pursuance of such an offer or
        agreement made prior to such expiry
2.      Receive and approve the Directors                             Mgmt          For            *
        remuneration report for the FYE 30
        SEP 2003
3.      Declare a final dividend of 30.0                              Mgmt          For            *
        pence per ordinary share payable on
        20 FEB 2004 to those shareholders on
        the register at the close of business
        on 23 JAN 2004
4.      Re-appoint Mr. S. Hulsmans as a                               Mgmt          For            *
        Director of the Company
5.      Re-appoint Mr. I.J.G. Napler as a                             Mgmt          For            *
        Director of the Company
6.      Re-appoint Mr. D. Cresswell as a                              Mgmt          For            *

<PAGE>

        Director of the Company
7.      Re-appoint Dr. F. A. Rogerson as a                            Mgmt          For            *
        Director of the Company
8.      Re-appoint Mr. B.C. Davidson as a                             Mgmt          For            *
        Director of the Company
9.      Re-appoint Mr. D.W. Thursfield as a                           Mgmt          For            *
        Director of the Company
S.15    Authorize the Directors, subject to                           Mgmt          For            *
        the passing of Resolution 14, to
        allot equity securities Section 94
        of the Companies Act 1985 for cash
        pursuant to the authority conferred
        by Resolution 13, disapplying the
        statutory pre-emption rights Section
        89(1) , provided that this power is
        limited to the allotment of equity
        securities: a) in connection with a
        rights issue, open offer and other
        pro-rata issue in favor of ordinary
        shareholders; and b) up to an
        aggregate nominal amount of GBP
        3,645,000; Authority expires the
        earlier of, at the conclusion of the
        next AGM of the Company, or on 01 AUG
        2005); and, authorize the Directors
        to allot equity securities after the
        expiry of this authority in pursuance
        of such an offer or agreement made
        prior to such expiry
S.16    Authorize the Company to make market                          Mgmt          For            *
        purchases Section 163(3) of the
        Companies Act 1985 of up to
        72,900,000 ordinary shares of 10
        pence each in the capital of the
        Company, at a minimum price of 10
        pence and up to 105% of the average
        of the middle market quotations or
        market values for such shares as
        derived from the London Stock
        Exchange Daily Official List, for the
        5 business days preceding the date
        of purchase; Authority expires the
        earlier of, at the conclusion of the
        next AGM of the Company, or on 01 AUG
        2005); the Company, before the
        expiry, may make a contract to
        purchase ordinary shares which will
        or may be executed wholly or partly

-------------------------------------------------------------------------------------------------------
INTERCONTINENTAL HOTELS GROUP PLC, LONDON                                     Agenda: 700485673
     CUSIP: G4803W103                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 6/1/2004            ISIN: GB0032612805
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

1.      Receive the Company s financial                               Mgmt          For            *
        statements for the period ended 31
        DEC 2003, together with the reports
        of the Directors and the Auditors
2.      Approve the Directors remuneration                            Mgmt          For            *
        report for the period ended 31 DEC
3.      Declare a final dividend on the                               Mgmt          For            *
        ordinary shares
4.a     Appoint Mr. Richard Hartman as a                              Mgmt          For            *
        Director of the Company
4.b     Appoint Mr. Ralph Kugler as a                                 Mgmt          For            *
        Director of the Company
4.c     Appoint Mr. Robert C. Larson as a                             Mgmt          For            *
        Director of the Company
4.d     Appoint Mr. Richard North as a                                Mgmt          For            *
        Director of the Company
4.e     Appoint Mr. Stevan Porter as a                                Mgmt          For            *
        Director of the Company
4.f     Appoint Mr. David Prosser as a                                Mgmt          For            *
        Director of the Company
4.g     Appoint Mr. Richard Solomons as a                             Mgmt          For            *
        Director of the Company
4.h     Appoint Sir Howard Stringer as a                              Mgmt          For            *
        Director of the Company
4.i     Appoint Mr. David Webster as a                                Mgmt          For            *
        Director of the Company
5.      Re-appoint Ernst & Young LLP as the                           Mgmt          For            *
        Auditors of the Company until the
        conclusion of the next general
        meeting at which accounts are laid
6.      Authorize the Directors to agree the                          Mgmt          For            *
        Auditors remuneration
7.      Approve that the financial limit on                           Mgmt          For            *
        annual aggregate Non-Executive
        Directors fees imposed by Article 84
        of the Company s Articles of
        Association be increased, as
        envisaged by that Article, to GBP
8.      Authorize the Company and any Company                         Mgmt          For            *
        that is or become a subsidiary of
        the Company, for the purposes of Part
        XA of the Companies Act 1985, to: i)
        make donations to EU Political
        Organizations; or ii) incur EU
        Political expenditure in an aggregate
        amount not exceeding GBP 100,000 ;
        Authority expires on the date of the
        AGM in 2005

<PAGE>

9.      Authorize the Directors, pursuant to                          Mgmt          For            *
        and in accordance with Section 80 of
        the Companies Act 1985 and within the
        terms of Article 13 of the Articles
        of Association of the Company, to
        allot relevant securities up to an
        aggregate nominal amount of GBP
        235,529,677; Authority expires at
S.10    Authorize the Directors, in                                   Mgmt          For            *
        substitution for all previous
        disapplications of Section 89 of the
        Act, which shall cease to have effect
        without prejudice to any allotment
        of securities pursuant thereto, to
        allot equity securities wholly for
        cash, insofar as such authority
        relates to the allotment of equity
        securities rather than the sale of
        treasury shares, pursuant to the
        authority for the time being in force
        under Section 80 of the Companies
        Act 1985 and within the terms of
        Article 13 of the Articles of
        Association of the Company,
        disapplying the statutory pre-emption
        rights Section 89(1) of the
        Companies Act 1985 : i) in connection
        with a rights issue Article 13.5.1
        ; and ii) up to an aggregate nominal
        amount of GBP 35,329,451; Authority
        expires the earlier on the date of
        the AGM in 2005 or 01 SEP 2005 ;
        references in this resolution to an
        allotment of equity securities shall
S.11    Authorize the Company, subject to and                         Mgmt          For            *
        in accordance with Article 10 of the
        Company s Articles of Association,
        to make market purchases Section
        163(3) of the Companies Act 1985 of
        up to 105,917,695 ordinary shares of
        GBP 1 each in the capital of the
        Company, at a minimum price of GBP 1
        and up to 105% of the average of the
        middle market quotations for an
        ordinary share as derived from The
        London Stock Exchange Daily Official
        List, over the previous 5 business
        days; Authority expires the earlier
        of the conclusion of the AGM of the
        Company or 01 SEP 2005 ; except in
        relation to the purchase of ordinary
        shares the contract for which was
        concluded before such date and which
        is executed wholly or partly after

<PAGE>

-------------------------------------------------------------------------------------------------------
IRISH LIFE & PERMANENT PLC                                                    Agenda: 700507621
     CUSIP: G4945H105                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/21/2004           ISIN: IE0004678656
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the accounts for the YE 31                            Mgmt          For            *
        DEC 2003 and the reports of the
        Directors and Auditors thereon
2.      Declare a final dividend on the                               Mgmt          For            *
        ordinary shares in the capital of the
        Company for the YE 31 DEC 2003
3.a     Re-appoint Mr. Denis Casey as a                               Mgmt          For            *
        Director, who retire in accordance
        with the Articles of Association
3.b     Re-appoint Mr. Kieran McGowan as a                            Mgmt          For            *
        Director, who retire in accordance
        with the Articles of Association
3.c     Re-appoint Mr. Kevin Murphy as a                              Mgmt          For            *
        Director, who retire in accordance
        with the Articles of Association
3.d     Re-appoint Mr. Finbar Sheehan as a                            Mgmt          For            *
        Director, who retire in accordance
        with the Articles of Association
3.e     Re-appoint Mr. David Went as a                                Mgmt          For            *
        Director, who retire in accordance
        with the Articles of Association
4.      Authorize the Directors to fix the                            Mgmt          For            *
        remuneration of the Auditors
S.5     Authorize the Company, for the                                Mgmt          For            *
        purpose of Section 155 of the
        Companies Act 1963, to make market
        purchases Section 212 of the
        Companies Act, 1990 of the Company s
        ordinary shares, in accordance with
        and subject to the provisions of the
        Companies Act, 1990 and the
        restriction and provisions, of up to
        aggregate number of ordinary shares
        will be 26,951,133; and for the
        purposes of the Section 209 of the
        Companies Act, 1990, the reissue
        price range at which any treasury
        share defined by the Section 209
        reissued off-market be the price
        range in the Articles of Association
        of the Company; Authority expires
        the earlier of the conclusion of the

<PAGE>

S.6     Authorize the Directors, pursuant to                          Mgmt          For            *
        Section 23 and Section 24(1) of the
        Companies Act 1983, to allot equity
        securities Section 23 for cash
        pursuant to the authority conferred
        by Resolution 8, disapplying the
        statutory pre-emption rights Section
        23(1) , provided that this power is
        limited to the allotment of equity
        securities a) in connection with a
        rights issue, open offer or other
        offers in favor of ordinary
        shareholders; and b) up to an
        aggregate nominal value of GBP
        4,312,181 5% of the issued ordinary
        share capital ; Authority expires
        the earlier of the conclusion of the
        AGM of the Company or 15 months ;
        and, authorize the Directors to allot
        equity securities after the expiry
        of this authority in pursuance of
        such an offer or agreement made prior
        to such expiry

-------------------------------------------------------------------------------------------------------
JCG HOLDINGS LTD                                                              Agenda: 700448396
     CUSIP: G5085Q102                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 3/25/2004           ISIN: BMG5085Q1024
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and approve the audited                               Mgmt          For            *
        financial statements and the reports
        of the Directors and the Auditors for
        the YE 31 DEC 2003
2.      Re-elect the Directors and authorize                          Mgmt          For            *
        the Board of Directors to fix the
        Directors remuneration
3.      Re-appoint Messrs. Ernst & Young as                           Mgmt          For            *
        the Auditors and authorize the
        Directors to fix their remuneration

<PAGE>

4.      Authorize the Directors of the                                Mgmt        Against          *
        Company, subject all applicable laws,
        to allot, issue and deal with
        additional shares in the capital of
        the Company, and make or grant
        offers, agreements or options during
        and after the relevant period, not
        exceeding 20% of the aggregate
        nominal amount of the issued share
        capital of the Company at the date of
        passing this resolution, otherwise
        than pursuant to i) a rights issue;
        or ii) the exercise of warrants to
        subscribe for shares of the Company
        or the exercise of options granted
        under any shares option scheme
        adopted by the Company; or iii) an
        issue of shares of the Company in
        lieu of the whole or part of a
        dividend on shares of the Company in
        accordance with the Company s Bye-
        laws; or iv) an issue of shares made
        pro-rata to holders of shares in the
        Company on a fixed record date;
        Authority expires the earlier of the
        conclusion of the next AGM of the
        Company or the expiration of the
        period within which the next AGM of
        the Company is required by any
5.      Authorize the Directors of the                                Mgmt          For            *
        Company to repurchase shares of HKD
        0.10 each in the capital of the
        Company on the Stock Exchange of Hong
        Kong Limited Stock Exchange ,
        during the relevant period, subject
        to and in accordance with all
        applicable laws and requirements of
        the rules governing the listing of
        securities on the Stock Exchange or
        any other stock exchange, not
        exceeding 10% of the aggregate
        nominal amount of the issued share
        capital of the Company at the date of
        passing this resolution; Authority
        expires the earlier of the conclusion
        of the next AGM of the Company or
        the expiration of the period within
        which the next AGM of the Company is
        required by any applicable law or the

<PAGE>

6.      Approve, subject to the passing of                            Mgmt          For            *
        Resolutions 4 and 5, to extend the
        general mandate granted to the
        Directors of the Company to allot
        shares, by adding thereto an amount
        representing the aggregate nominal
        amount of the shares in the Company
        repurchased by the Company pursuant
        to Resolution 5, provided that such
        amount does not exceed 10% of the
        aggregate nominal amount of the
        issued share capital of the Company
        at the date of passing this
S.7     Amend Bye-law 1, 39, 48, 81, 119,                             Mgmt        Against          *
        120, 130 and 160 of the Bye-laws of
        the Company

-------------------------------------------------------------------------------------------------------
JCG HOLDINGS LTD                                                              Agenda: 700408582
     CUSIP: G5085Q102                         Meeting Type: CRT
    Ticker:                                   Meeting Date: 9/23/2003           ISIN: BMG5085Q1024
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve, by an order dated 27 AUG                             Mgmt        Against          *
        2003 Order , a Scheme of Arrangement
        between the Company and the holders
        of the scheme shares; appoint Dr. The
        Hong Piow as a Director of the
        Company or failing him, Mr. Datuk Tay
        Ah Lek as a Director of the Company
        or failing him, any other person who
        is a Director of the Company, by the
        order of the Court as at the date of
        the order, to act as Chairman of the
        said meeting and to report the result
        thereof to the Court; and the said
        Scheme of Arrangement will be subject
        to the subsequent approval of the
        Court and to the satisfaction of the
        proposal

-------------------------------------------------------------------------------------------------------
JCG HOLDINGS LTD                                                              Agenda: 700408570
     CUSIP: G5085Q102                         Meeting Type: SGM
    Ticker:                                   Meeting Date: 9/23/2003           ISIN: BMG5085Q1024
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

S.1     Approve the Scheme of Arrangement of                          Mgmt        Against          *
        29 AUG 2003 Scheme between the
        Company and the holders of Scheme
        shares as defined in the Scheme
        with any modification(s) or
        addition(s) or condition(s) approved
        or imposed by the Supreme Court of
        Bermuda; approve, for the purpose of
        giving effect to the Scheme on the
        Effective Date as defined in the
        Scheme , to reduce the issued share
        capital of the Company by canceling
        and extinguishing the Scheme shares
        and that the Company shall apply the
        amount of credit arising in its books
        of account as a result of the
        reduction of its share capital to a
        reserve account in the books of
        account of the Company; and Authorize
        the Directors of the Company to do
        all such acts and things as they may
        consider necessary or desirable in
        connection with the implementation(s)
        of the Scheme, including without
        limitation the giving of consent to
        and modification(s) of, or
        addition(s) to the Scheme, which the

-------------------------------------------------------------------------------------------------------
KERRY PROPERTIES LTD                                                          Agenda: 700480205
     CUSIP: G52440107                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/20/2004           ISIN: BMG524401079
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and approve the audited                               Mgmt       No Action         *
        accounts and the reports of the
        Directors and the Auditors for the YE
        31 DEC 2003
2.      Declare a final dividend for the YE                           Mgmt       No Action         *
        31 DEC 2003
3.      Re-elect the retiring Directors                               Mgmt       No Action         *
4.      Approve to fix the Directors fees                             Mgmt       No Action         *
5.      Re-appoint the retiring Auditors and                          Mgmt       No Action         *
        authorize the Directors of the
        Company to fix their remuneration

<PAGE>

6.A     Authorize the Directors to allot,                             Mgmt       No Action         *
        issue and deal with additional shares
        in the share capital of the Company
        and make or grant offers, agreements
        and options during and after the
        relevant period, a) not exceeding 20%
        of the aggregate nominal amount of
        the issued share capital of the
        Company at the date of passing of
        this resolution; and b) the nominal
        amount of any share capital
        repurchased by the Company subsequent
        to the passing of this resolution
        up to a maximum equivalent to 10% of
        the aggregate nominal amount of the
        issued share capital of the Company ,
        otherwise than pursuant to i) a
        rights issue; or ii) the exercise of
        any option under any share option
        scheme or similar arrangement; or
        iii) any scrip dividend or similar
        arrangement; or iv) any adjustment,
        after the date of grant or issue of
        any options, rights to subscribe or
        other securities referred to the
        above, in the price at which shares
        in the Company shall be subscribed,
        and/or in the number of shares in the
        Company which shall be subscribed,
        on exercise of relevant rights under
        such options, warrants or other
        securities, such adjustment being
        made in accordance with or as
        contemplated by the terms of such
        options, rights to subscribe or other
        securities; or v) a specified
        authority granted by the shareholders
        of the Company in general meeting;
        Authority expires the earlier of the
        conclusion of the next AGM of the
        Company or the expiration of the
        period within which the next AGM is
6.B     Authorize the Directors of the                                Mgmt       No Action         *
        Company to repurchase its own shares
        during the relevant period, on The
        Stock Exchange of Hong Kong Limited
        the Stock Exchange or any other
        stock exchange on which the shares of
        the Company have been or may be
        listed and recognized by the
        Securities and Futures Commission of
        Hong Kong and the Stock Exchange for
        this purposes, not exceeding 10% of
        the aggregate nominal amount of the
        issued share capital of the Company
        as at the date of passing of this
        resolution; Authority expires the

<PAGE>

        earlier of the conclusion of the AGM
        of the Company or the expiration of
        the period within which the next AGM
        of the Company is to be held by law
6.C     Approve to extend the general mandate                         Mgmt       No Action         *
        granted to the Directors of the
        Company, coditional upon the passing
        of Resolution number 6.B, to allot
        shares pursuant to Resolution 6.A, by
        the addition to the aggregate
        nominal amount of the share capital
        which may be allotted or agreed to be
        allotted by the Directors of the
        Company pursuant to such general
        mandate of an amount representing the
        aggregate nominal amount of the
        share capital repurchased by the
        Company pursuant to Resolution 6.B

-------------------------------------------------------------------------------------------------------
KERRY PROPERTIES LTD                                                          Agenda: 700388831
     CUSIP: G52440107                         Meeting Type: CRT
    Ticker:                                   Meeting Date: 7/22/2003           ISIN: BMG524401079
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve the Scheme of Arrangement                             Mgmt        Against          *

-------------------------------------------------------------------------------------------------------
KERRY PROPERTIES LTD                                                          Agenda: 700388843
     CUSIP: G52440107                         Meeting Type: SGM
    Ticker:                                   Meeting Date: 7/22/2003           ISIN: BMG524401079
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
S.1     Approve the scheme of arrangement                             Mgmt        Against          *
        dated 26 JUN 2003 between the Company
        and the scheme shareholders, and for
        the purpose of the scheme: i) the
        issued share capital of the Company
        be reduced by canceling and
        extinguishing the scheme shares; ii)
        subject to the reduction of the share
        capital the issued share capital of
        the Company be increased to its
        former amount by creating such number
        of new ordinary shares of HKD 1.00
        each in the capital of the Company as
        is equal to the number of the shares
        of the scheme shares cancelled; and
        iii) that the Company shall apply the
        credit arising in its books as a
        result of such reduction of capital
        in paying up in full at par the new
        ordinary shares of HKD 1.00 each in
        the capital of the Company be
        created, which new shares shall be
        allotted, and issued, credited fully

<PAGE>

        paid to Kerry Holdings Limited and/or
        its subsidiaries and/or such
        entities as it may direct and
        authorize the Directors of the

-------------------------------------------------------------------------------------------------------
KESA ELECTRICALS PLC                                                          Agenda: 700507823
     CUSIP: G5244H100                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/26/2004           ISIN: GB0033040113
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the report of the Directors                           Mgmt          For            *
        and the financial statements of the
        Company for the YE 31 JAN 2004
        together with the report of the
        Auditors
10.     Re-appoint Mr. Andrew Robb as a                               Mgmt          For            *
        Director who retires under Article
        107 of the Company s Articles of
        Association
11.     Re-appoint Mr. Bernard Defau as a                             Mgmt          For            *
        Director who retires under Article
        107 and 113 of the Company s Articles
        of Association
12.     Authorize the Directors to exercise                           Mgmt          For            *
        all the powers of the Company, for
        the purpose of Section 80 of the UK
        Companies Act 1985 ACT , to allot
        relevant securities, up to an
        aggregate nominal amount of GBP
        44,129,432; Authority expires on 25
        MAY 2009 ; and the Company may make
        any offer or agreement before the
        expiry of this authority that would
        or might require relevant securities
        to be allotted after this authority
        has expired and the Directors may
        allot relevant securities in
        pursuance to such offer or agreement
13.     Approve the Board of Inland Revenue,                          Mgmt          For            *
        the Kesa Electricals PLC Share
        Incentive Plan SIP and the draft
        trust deed and rules constituting the
        SIP, copies of which have been
        produced to the Meeting and for the
        purpose of identification only
        initialed by the Chairman and
        authorize the Directors to do all
        acts and things necessary or
        expedient to implement SIP and make
        changes to the draft trust deed and
        the rules of SIP as they consider
        necessary or desirable to obtain any
        approvals or to take account of any
        statutory fiscal, exchange control or

<PAGE>

        securities regulations either
        generally or in relation to any
        potential participants provided that
        overall limits contained in the SIP
14.     Approve the Kesa Electricals PLC d                            Mgmt          For            *
        Epargne de Groupe PEG and the draft
        rules constituting the PEG, copies
        of which have been produced to the
        Meeting and for the purpose of
        identification only initialed by the
        Chairman in respect of all French
        subsidiaries of the Group which
        adhere to the PEG and authorize the
        Directors to do all acts and things
        necessary or expedient to implement
        PEG and making rule changes to the
        terms and conditions of the PEG as
        they consider necessary or desirable
        to obtain any approvals or to take
        account of any statutory fiscal,
        exchange control or securities
        regulations either generally or in
        relation to any potential
        participants provided that overall
        limits contained in the PEG continue
15.     Approve the Kesa Electricals PLC                              Mgmt          For            *
        Long-Term Incentive Plan LTIP and
        the draft rules constituting the PEG,
        copies of which have been produced to
        the Meeting and for the purpose of
        identification only initialed by the
        Chairman and authorize the Directors
        to do all acts and things necessary
        or expedient to implement LTIP and
        making such changes to the rules
        establishing the LTIP as they
        consider necessary or desirable to
        obtain any approvals or to take
        account of any statutory fiscal,
        exchange control or securities
        regulations either generally or in
        relation to any potential
        participants provided that overall
16.     Authorize the Directors to establish                          Mgmt          For            *
        such number of supplement or
        appendices to the LTIP, PEG and the
        SIP Schemes or such other employees
        share schemes based on the Schemes
        in relation to the ordinary shares in
        the capital of the Company Shares
        as they will be necessary or
        appropriate to take advantage of, or
        comply with, local Laws and
        regulations, for the benefit of
        employees of the Company or any of
        its subsidiaries who are resident or

<PAGE>

        working overseas and for whom
        participation in the Schemes is
        otherwise undesirable or impractical
        and from time to time to make or
        permit the making of such alteration
        to such supplements, appendices or
        other employees share schemes as
        they consider necessary or desirable
        and the Directors consider
        practicable, substantial equally of
        treatment between UK employees and
        the employees resident overseas and
        the overall limits on the number of
        shares which will be subscribed under
        all the Company s employees share
        schemes will be not be increased and
2.      Re-appoint PricewaterhouseCoopers,                            Mgmt          For            *
        the retiring Auditors and authorize
        the Directors to determine their
        remuneration
3.      Approve the Directors remuneration                            Mgmt          For            *
        report for the YE 31 JAN 2004
4.      Declare a final dividend of 7.5 pence                         Mgmt          For            *
        per ordinary share
5.      Re-appoint Mr. David Newlands as a                            Mgmt          For            *
        Directors who retires under Article
        107 of the Company s Articles of
        Association
6.      Re-appoint Mr. Jean-Neol Labroue as a                         Mgmt          For            *
        Director who retires under Article
        107 of the Company s Articles of
        Association
7.      Re-appoint Mr. Martin Reavley as a                            Mgmt          For            *
        Director who retires under Article
        107 of the Company s Articles of
        Association
8.      Re-appoint Mr. Peter Wilson as a                              Mgmt          For            *
        Director who retires under Article
        107 of the Company s Articles of
        Association
9.      Re-appoint Mr. Micheal Brossard as a                          Mgmt          For            *
        Director who retires under Article
        107 of the Company s Articles of
        Association
S.17    Approve to make donation to European                          Mgmt          For            *
        Union EU political Organizations to
        incur EU political expenditure up to
        an aggregate not exceeding GBP
        250,000 during the period ending on
        the date of the AGM in 2005 and the
        authority will extend to enable any
        such donation to be made or
        expenditure to be incurred either by
        the Company or by its subsidiaries

<PAGE>

S.18    Authorize the Directors, in                                   Mgmt          For            *
        accordance with provisions of Section
        95(1) of the Act, to allot equity
        securities, for cash pursuant to the
        authority conferred by Resolution 12
        above and/or where such allotment
        constitutes an allotment of equity
        securities by virtue of Section
        94(3A) of the Act, disapplying the
        statutory pre-emption rights Section
        89(1) , provided with such power: i)
        allot equity securities in
        connection with a rights issue, open
        offer or any other pre-emptive offer
        in favor of holders of ordinary
        shares in the capital of the Company,
        where the equity securities
        respectively attributable to the
        interests of the holders of ordinary
        shares are proportionate to the
        respective amounts held by them, as
        the Directors may deem necessary or
        expedient to deal with fractional
        entitlements or legal or practical
        problems arising under the Laws of,
        or the requirements of, any regulator
        or stock exchange authority in
        jurisdiction or any other matter
        whatsoever b) up to maximum nominal
        amount of GBP 6,619,415; Authority
        expires on 25 MAY 2009 ; and the
        Company may make any offer or
        agreement before such expiry that
        would or might require equity
        securities to be allotted after this
        authority has expired and the
        Directors may allot equity securities
S.19    Authorize the Company, in accordance                          Mgmt          For            *
        with Section 166 of the Companies Act
        1985, to make market purchases
        Section 163(3) of up to 52,995,321
        ordinary shares, at a minimum price
        which will be paid for ordinary share
        is 025p and not more than 5% above
        the average market value for such
        shares taken from the London Stock
        Exchange Daily Official List, for the
        5 business days before the date of
        purchase; Authority expires at the
        conclusion of the AGM of the Company
        in 2005 ; the Company, before the
        expiry, may make a contract to
        purchase ordinary shares which will
        or may be executed wholly or partly
        after such expiry

<PAGE>

-------------------------------------------------------------------------------------------------------
KINGFISHER PLC                                                                Agenda: 700515438
     CUSIP: G5256E441                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 6/3/2004            ISIN: GB0033195214
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the report of the Directors                           Mgmt          For            *
        including the Corporate Governance
        report and the financial statements
        for the YE 31 JAN 2004 along with the
        report of the Auditors
10.     Authorize the Board of Directors to                           Mgmt          For            *
        offer any holders of any shares in
        the capital of the Company the right
        to elect to receive shares in the
        capital of the Company, instead of
        cash, in respect of all or part of
        all or any dividends declared or paid
        during the period prior to the AGM
        of the Company to be held in 2009, on
        the terms and conditions in Article
        138.1 of the Articles of Association
2.      Approve the Directors remuneration                            Mgmt          For            *
        report for the YE 31 JAN 2004
3.      Declare a final dividend of 6.15                              Mgmt          For            *
        pence on the ordinary shares for
        payment on 11 JUN 2004
4.      Elect Mr. Tatton-Brown as a Director                          Mgmt          For            *
5.      Re-elect Sir Francis Mackay as a                              Mgmt          For            *
        Director
6.      Re-elect Mr. Hepher as a Director                             Mgmt          For            *
7.      Re-elect Ms. Salmon as a Director                             Mgmt          For            *
8.      Re-appoint PricewaterhouseCoopers LLP                         Mgmt          For            *
        as the Company s Auditors and
        authorize the Directors to fix their
        remuneration
9.      Authorize the Directors to allot                              Mgmt          For            *
        relevant securities Section 80 of
        the Companies Act 1985 and to make
        an offer or agreement which would or
        might require relevant securities to
        be allotted up to an aggregate
        nominal amount of GBP 108,526,099;
        Authority expires earlier of the
        conclusion of the next AGM of the
        Company or 03 SEP 2005

<PAGE>

S.11    Authorize the Directors, pursuant to                          Mgmt          For            *
        Section 95 of the Companies Act 1985,
        to allot equity securities Section
        94(2) , disapplying the per emption
        rights Section 89(1) , provided that
        this power shall be limited to the
        allotment of equity securities: i) in
        connection with a rights issue for
        cash in favor of ordinary
        shareholders; and ii) up to an
        aggregate nominal amount not
        exceeding 5% of the nominal value of
        the issued share capital of the
        Company; Authority expires earlier
        of, the conclusion of the next AGM of
        the Company or on 03 SEP 2005 ; and
        the Directors may allot equity
        securities after the expiry of this
        authority in pursuance of such an
        offer or agreement made prior to such
S.12    Authorize the Company, pursuant to                            Mgmt          For            *
        Article 44 of the Company s Articles
        of Association and Section 166 of the
        Companies Act 1985, to make market
        purchases Section 163(3) of up to
        233,210,664 of its ordinary shares,
        at a maximum price of an amount equal
        to 105% of the average of the middle
        market quotations of such shares as
        derived form the stock exchange daily
        official list for the 5 business
        after such purchase; Authority shall
        expire at the conclusion of the next
        AGM of the Company or on 03 DEC 2005
        ; the Company, before the expiry,
        may make a contract to purchase
        ordinary shares which will or may be
        executed wholly or partly after such

-------------------------------------------------------------------------------------------------------
KOWLOON MOTOR BUS HOLDINGS LTD                                                Agenda: 700513600
     CUSIP: G5313U107                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/20/2004           ISIN: BMG5313U1071
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and approve the audited                               Mgmt          For            *
        financial statements and the reports
        of the Directors and the Auditors for
        the YE 31 DEC 2003
2.      Declare a final dividend                                      Mgmt          For            *
3.      Re-elect the Directors and fix their                          Mgmt          For            *
        remuneration
4.      Appoint the Auditors and authorize                            Mgmt          For            *
        the Directors to fix their

<PAGE>

5.A     Authorize the Directors of the                                Mgmt        Against          *
        Company, pursuant to the rules
        governing the listing of securities
        on the Stock Exchnage of Hong Kong
        Limited, to allot, issue and deal
        with additional shares in the capital
        of the Company and make or grant
        offers, agreements and options during
        and after the relevant period, not
        exceeding the aggregate of 20% of the
        aggregate nominal amount of the
        issued share capital of the Company
        at the date of passing this
        resolution; otherwise than pursuant
        to a) a rights issue; or b) the
        exercise of subscription or rights
        under the terms of any share option
        scheme; or c) an issue of shares in
        lieu of dividends; Authority expires
        the earlier of the conclusion of the
        next AGM of the Company or the
        expiration of the period within which
        the next AGM is to be held by law
5.B     Authorize the Directors of the                                Mgmt          For            *
        Company, to repurchase shares of the
        Company on The Stock Exchange of Hong
        Kong Limited or any other stock
        exchange on which the shares of the
        Company have been or may be listed
        and recognized by the Securities and
        Futures Commission under the Hong
        Kong Code for such purposes, during
        the relevant period, subject to and
        in accordance with all applicable
        laws and regulations, not exceeding
        10% of the aggregate nominal amount
        of the issued share capital of the
        Company; Authority expires the
        earlier of the conclusion of the next
        AGM of the Company or the expiration
        of the period within which the next
        AGM is to be held by law
5.C     Approve to extend the general mandate                         Mgmt          For            *
        granted to the Directors of the
        Company to allot shares and to make
        or grant offers, agreements and
        options pursuant to Resolution 5.A,
        by an amount representing the
        aggregate nominal amount of the share
        capital repurchased by the Company
        pursuant to Resolution 5.B, provided
        that such amount does not exceed 10%
        of the aggregate nominal amount of
        the issued share capital of the
        Company at the date of passing this

<PAGE>

S.6     Amend the existing Bye-laws by:                               Mgmt          For            *
        adding a new definition on Bye-law 1,
        deleting words in Bye-law 77 and
        substituting with new words, adding a
        new Bye-law 77A, deleting the
        existing Bye-law 88 entirely and
        substituting with a new Bye-law and
        deleting the existing Bye-law 103
        entirely and substituting with a new

-------------------------------------------------------------------------------------------------------
KOWLOON MOTOR BUS HOLDINGS LTD                                                Agenda: 700401766
     CUSIP: G5313U107                         Meeting Type: SGM
    Ticker:                                   Meeting Date: 8/26/2003           ISIN: BMG5313U1071
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve, ratify and confirm the Prime                         Mgmt        Abstain          *
        Cost Contract dated 17 JUL 2003
        entered into between Lai Chi Kok
        Properties Investment Limited
        (LCKPI), an indirectly wholly-owned
        subsidiary of the Company, and Chun
        Fai Construction Co. Ltd. (Chun Fai),
        a wholly-owned subsidiary of Sun
        Hung Kai Properties Limited, pursuant
        to which, LCKPI shall appoint Chun
        Fai as the Management Contractor to
        construct and complete the
        substructure and superstructure of
        the development to be constructed on
        or above Section A of New Kowloon
        Marine Lot No. 3 (the Lot) and the
        associated construction to be
        constructed near the Lot; authorize
        the Directors, on behalf of the
        Company, to sign, seal, execute,
        perfect, deliver and do all such
        documents, deeds, acts, matters and
        things as they may in their
        discretion consider necessary or
        desirable or expedient for the
        purpose of or in connection with the

-------------------------------------------------------------------------------------------------------
LLOYDS TSB GROUP PLC                                                          Agenda: 700500413
     CUSIP: G5542W106                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/21/2004           ISIN: GB0008706128
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the accounts and the reports                          Mgmt          For            *
        of the Directors and of the Auditors
        for the YE 31 DEC 2003

<PAGE>

11.     Approve the draft rules of the Lloyds                         Mgmt          For            *
        TSB Performance Share Plan Plan as
        specified and authorize the
        Directors to cause the rules to be
        adopted in, or substantially in, the
        form of the draft and to do all acts
        and things necessary or expedient to
        carry the plan into effect; and
        approve the amendment to the Lloyds
        TSB Group No. 2 Executive Share
        Option Scheme 1997 as specified and
        authorize the Directors to adopt the
        amendments from 01 JAN 2005
2.      Approve the Directors remuneration                            Mgmt          For            *
        report contained in the report and
        accounts
3.a     Elect Mr. P.G. Ayliffe as a Director,                         Mgmt          For            *
        who retires under Article 78 of the
        Company s Articles of Association
3.b     Elect Dr. W.C.G. Berndt as a                                  Mgmt          For            *
        Director, who retires under Article
        78 of the Company s Articles of
3.c     Elect Mrs. A.A. Knight as a Director,                         Mgmt          For            *
        who retires under Article 78 of the
        Company s Articles of Association
3.d     Elect Mrs. H.A. Weir as a Director,                           Mgmt          For            *
        who retires under Article 78 of the
        Company s Articles of Association
4.a     Re-elect Mr. Ewan Brown as a                                  Mgmt          For            *
        Director, who retires by rotation
        under Article 81 of the Company s
        Article of Association
4.b     Re-elect Mr. Mr. J.E. Daniels as a                            Mgmt          For            *
        Director, who retire by rotation
        under Article 81 of the Company s
        Article of Association
4.c     Re-elect Mr. D.P. Pritchard as a                              Mgmt          For            *
        Director, who retires by rotation
        under Article 81 of the Company s
        Article of Association
4.d     Re-elect Mr. M.A. Van den Bergh as a                          Mgmt          For            *
        Director, who retires by rotation
        under Article 81 of the Company s
        Article of Association
5.      Re-appoint PricewaterhouseCoopers LLP                         Mgmt          For            *
        as the Auditors
6.      Authorize the Directors to set the                            Mgmt          For            *
        remuneration of the Auditors

<PAGE>

7.      Approve to renew the authority                                Mgmt          For            *
        conferred on the Directors by
        Paragraph 9.2 of the Article 9 of the
        Company s Articles of Association,
        for the period ending on the day of
        the AGM in 2005 or on 20 AUG 2005,
        whichever is earlier, and for that
        period the Section 80 amount shall be
        GBP 334,068,329, USD 40,000,000, EUR
        40,000,000 and JPY 250,000,000
S.10    Approve and adopt the new Articles of                         Mgmt          For            *
        Association of the Company, subject
        to the passing of Resolutions 7 and 8
        in substitution for the existing
        Articles of Association
S.8     Approve to renew the authority                                Mgmt          For            *
        conferred on the Directors, subject
        to the passing of Resolution 7, by
        Paragraph 9.3 of the Article 9 of the
        Company s Articles of Association
        and for that period the Section 89
        amount shall be GBP 70,913,582, and
        the sale of treasury shares shall be
        treated as an allotment of equity
        securities for the purpose of Article
S.9     Approve to renew the authority given                          Mgmt          For            *
        to the Company, to make market
        purchases Section 163 of the
        Companies Act 1985 of up to 567
        million ordinary shares of 25p each
        in the capital of the Company, at a
        minimum price of 25p and up to 105%
        of the average middle market
        quotations for such shares derived
        from the stock exchange daily
        official list, over the previous 5
        business days; Authority expires the
        earlier of the conclusion of the
        next AGM of the Company in 2005 or 20
        NOV 2005 ; the Company, before the
        expiry, may make a contract to
        purchase ordinary shares which will
        or may be executed wholly or partly

-------------------------------------------------------------------------------------------------------
MITCHELLS & BUTLERS PLC, BIRMINGHAM                                           Agenda: 700434549
     CUSIP: G61614106                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 12/1/2003           ISIN: GB0032612797
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

1.      Approve that, subject to and                                  Mgmt          For            *
        conditional upon admissions of the
        new ordinary shares to the Official
        list of the United Kingdom Listing
        Authority and to trading on the
        London Stock Exchange becoming
        effective: (a) all the ordinary
        shares of 5 pence each in the capital
        of the Company which at the close of
        business on 01 DEC 2003 are shown in
        the books of the Company as
        authorized, whether issued or
        unissued, shall be subdivided into
        new ordinary shares of 1/12 of a
        penny each in the capital of the
        Company; (b) the Secretary of the
        Company and the Deputy Secretary of
        the Company shall jointly subscribe
        at par up to 84 new intermediate
        shares with an aggregate nominal
        value equal to the nominal value of
        the number of additional intermediate
        shares required to be issued in
        order to increase the issued share
        capital of the Company to the nearest
        number of shares exactly divisible
        by 85; (c) all intermediate shares
        that remain unissued following the
        issue of new intermediate shares to
        the Secretary of the Company shall be
        consolidated into new ordinary
        shares of 71/12 pence each in the
        capital of the Company, provided that
        where such consolidation would
        otherwise result in a fraction of an
        unissued new ordinary share, that
        number of intermediate shares which
        would otherwise constitute such
        fraction shall be cancelled pursuant
        to Section 121 (2)(e) of the
        Companies Act 1985; and (d) all
        intermediate shares that are in
        issue, including the new intermediate
        shares that have been issued to the
        Secretary of the Company and the
        Deputy Secretary of the Company,
        jointly, shall be consolidated into
        new ordinary shares of 71/12 pence
        each in the capital of the Company,
        provided that, where such
        consolidation results in any Member
        being entitled to a fraction of new
        ordinary share and authorize the
        Directors of the Company to execute
        an instrument of transfer in respect
        of such shares on behalf of the
        relevant Members and to do all acts

<PAGE>

        and things the Directors may consider
        necessary or expedient to effect the
        transfer of such shares to, or in
        accordance with the Directors of, any
2.      Authorize the Company, subject to the                         Mgmt          For            *
        passing of Resolution 1 and for the
        purpose of Section 166 of the
        Companies Act 1985, to make market
        purchases Section 163 of the
        Companies Act 1985 of up to
        51,971,500 ordinary shares, at a
        minimum price of nominal value of
        such share and not more than 105%
        above the average market value for
        such shares derived from the London
        Stock Exchange Daily Official List,
        over the previous 5 business days;
        Authority expires at the conclusion
        of the next AGM of the Company in
        2004 ; the Company, before the
        expiry, may make a contract to
        purchase ordinary shares which will
        or may be executed wholly or partly

-------------------------------------------------------------------------------------------------------
MITCHELLS & BUTLERS PLC, BIRMINGHAM                                           Agenda: 700443601
     CUSIP: G61614114                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 2/12/2004           ISIN: GB0033839910
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the Company s financial                               Mgmt          For            *
        statements for the YE 30 SEP 2003,
        together with the reports of the
        Directors and the Auditors
2.      Approve the remuneration report for                           Mgmt          For            *
        the YE 30 SEP 2003
3.      Declare a final dividend on the                               Mgmt          For            *
        ordinary shares
4.a     Re-appoint Mr. Mike Barmley as a                              Mgmt          For            *
        Director of the Company
4.b     Re-appoint Mr. Roger Carr as a                                Mgmt          For            *
        Director of the Company
4.c     Re-appoint Mr. Tim Clarke as a                                Mgmt          For            *
        Director of the Company
4.d     Re-appoint Mr. George Fairweather as                          Mgmt          For            *
        a Director of the Company
4.e     Re-appoint Mr. Tony Hughes as a                               Mgmt          For            *
        Director of the Company
4.f     Re-appoint Sir Tim Lankester as a                             Mgmt          For            *
        Director of the Company
4.g     Re-appoint Mr. Karim Naffah as a                              Mgmt          For            *
        Director of the Company
4.h     Re-appoint Mr. Sara Weller as a                               Mgmt          For            *

<PAGE>

        Director of the Company
5.      Re-appoint Ernst & Young LLP as the                           Mgmt          For            *
        Auditors of the Company until the
        next general meeting at which the
        accounts are to be laid and authorize
        the Directors to agree their
6.      Authorize the Directors, in                                   Mgmt          For            *
        accordance with Section 80 of the
        Companies Act, 1985 and within the
        terms of Articles 14 of the Articles
        of Association of the Company, to
        allot relevant securities up to an
        aggregate nominal amount of GBP
        12,271,560; Authority expires at the
9.      Authorize the Company and any Comp                            Mgmt          For            *
        any that is or becomes a subsidiary
        of the Company during the period to
        which the resolution relates, for the
        purposes of Part XA of the Companies
        Act 1985 to: i) make donations to EU
        political organizations; and ii) to
        incur political expenditure in an
        aggregate amount not exceeding GBP
        100,000 during the period ending on
        the date of the AGM in 2005
S.7     Authorize the Directors, in                                   Mgmt          For            *
        substitution for any existing
        authority, to allot equity securities
        for cash pursuant to the authority
        conferred by Resolution 6 within the
        terms of Articles 14 of the Articles
        of Association of the Company,
        disapplying the statutory pre-emption
        rights Section 89(1) of the
        Companies Act : i) in connection with
        a rights issue as specified; b) up
        to an aggregate nominal amount of GBP
        1,840,730; Authority expires at the
        end of five years
S.8     Authorize the Company, subject to and                         Mgmt          For            *
        in accordance with Article 11 of the
        Company s Articles of Association,
        to make market purchases Section
        163(3) of the Companies Act of up to
        51,973,920 ordinary shares of 7.5p
        each in the capital of the Company
        ordinary shares , at a minimum price
        of 7.5p and up to 105% of the average
        middle market quotations for an share
        derived from the London Stock
        Exchange Daily Official List, over
        the previous 5 business days;
        Authority expires the earlier of the
        conclusion of the next AGM of the
        Company or 12 MAY 2005 ; the Company,

<PAGE>

        before the expiry, may make a
        contract to purchase ordinary shares
        which will or may be executed wholly

-------------------------------------------------------------------------------------------------------
NATIONAL GRID TRANSCO PLC                                                     Agenda: 700384162
     CUSIP: G6375K102                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 7/21/2003           ISIN: GB0031223877
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the report and the accounts                           Mgmt          For            *
        for the YE 31 MAR 2003 and the
        Auditors report on the accounts
10.     Re-appoint Mr. Steve Holliday as a                            Mgmt          For            *
        Director
11.     Re-appoint PricewaterhouseCoopers LLP                         Mgmt          For            *
        as the Company s Auditors until the
        next general meeting at which
        accounts are laid before the Company
        and authorize the Directors to set
        the Auditors remuneration
12.     Approve the Directors remuneration                            Mgmt          For            *
        report for the YE 31 MAR 2003
2.      Declare a final dividend of 10.34                             Mgmt          For            *
        pence per ordinary share USD 0.8396
        per American Depositary Share for
        the YE 31 MAR 2003
3.      Re-appoint Mr. Nick Winser as a                               Mgmt          For            *
        Director
4.      Re-appoint Sir. John Parker as a                              Mgmt          For            *
        Director
5.      Re-appoint Mr. Steve Lucas as a                               Mgmt          For            *
        Director
6.      Re-appoint Mr. John Wybrew as a                               Mgmt          For            *
        Director
7.      Re-appoint Mr. Kenneth Harvey as a                            Mgmt          For            *
        Director
8.      Re-appoint Mr. Stephen Pettit as a                            Mgmt          For            *
        Director
9.      Re-appoint Mr. George Rose as a                               Mgmt          For            *
        Director

<PAGE>

S.13    Authorize the Company to make market                          Mgmt          For            *
        purchases Section 163(3) of the
        Companies Act 1985 of up to
        307,722,000 ordinary shares of 10
        pence each, at a minimum price of 10
        pence and not more than 105% of the
        average middle market quotations for
        such shares derived from the London
        Stock Exchange Daily Official List,
        for the 5 business days; Authority
        expires the earlier of the conclusion
        of the next AGM or 15 months ; the
        Company, before the expiry, may make
        a contract to purchase ordinary
        shares which will or may be executed
        wholly or partly after such expiry

-------------------------------------------------------------------------------------------------------
ROTORK PLC                                                                    Agenda: 700482576
     CUSIP: G76717126                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/21/2004           ISIN: GB0007506958
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and adopt the Directors                               Mgmt          For            *
        report and accounts and Auditors
        report thereon for 2003
10.     Authorize the Directors to allot                              Mgmt          For            *
        shares outside of statutory pre-
        emption rights subject to normal
        conditions
11.     Authorize the Company to repurchase                           Mgmt          For            *
        ordinary Shares
12.     Authorize the Company to repurchase                           Mgmt          For            *
        preference shares
13.     Adopt new Articles of Association                             Mgmt          For            *
2.      Declare a final dividend                                      Mgmt          For            *
3.      Re-elect Mr. WH Whiteley as a                                 Mgmt          For            *
4.      Re-elect Mr. A Walker as a Director                           Mgmt          For            *
5.      Re-appoint KPMG Audit PLC as the                              Mgmt          For            *
        Auditors of the Company
6.      Authorize the Directors to fix the                            Mgmt          For            *
        remuneration of the Auditors
7.      Approve the Directors Remuneration                            Mgmt          For            *
        report
8.      Approve the Rotork Sharesave scheme                           Mgmt          For            *
9.      Authorize the Directors to allot                              Mgmt          For            *

<PAGE>

-------------------------------------------------------------------------------------------------------
SCMP GROUP LTD                                                                Agenda: 700496044
     CUSIP: G7867B105                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/24/2004           ISIN: BMG7867B1054
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and approve the audited                               Mgmt          For            *
        financial statements and the
        Directors report and the Auditors
        report for the YE 31 DEC 2003
2.      Declare a final dividend form the                             Mgmt          For            *
        contributed surplus account
3.      Re-elect the retiring Directors and                           Mgmt          For            *
        authorize the Board to fix their
        remuneration
4.      Re-appoint the Auditors and authorize                         Mgmt          For            *
        the Directors to fix their
6.      Authorize the Directors to issue and                          Mgmt        Abstain          *
        allot shares
7.      Authorize the Directors to repurchase                         Mgmt        Abstain          *
        shares
8.      Grant a general mandate to the                                Mgmt        Abstain          *
        Directors to add the repurchased
        shares to the share issue general
        mandate
S.5     Amend the Bye-Laws of the Company                             Mgmt          For            *

-------------------------------------------------------------------------------------------------------
SCOTTISH AND SOUTHERN ENERGY PLC                                              Agenda: 700385734
     CUSIP: G7885V109                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 7/24/2003           ISIN: GB0007908733
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the audited accounts for the                          Mgmt          For            *
        YE 31 MAR 2003 along with the reports
        of the Directors and the Auditors
        thereon
10.     Re-elect Mr. David Sigsworth as a                             Mgmt          For            *
        Director of the Company
11.     Re-appoint KPMG Audit Plc as the                              Mgmt          For            *
        Auditors to the Company until the
        conclusion of th e next general
        meeting and authorize the Directors
        to fix their remuneration
12.     Approve the maximum annual amount                             Mgmt          For            *
        permitted to be paid in fees to the
        Directors under Article 89 of the
        Company s Articles of Association be
        increased from GBP 250,000 to GBP
        400,000

<PAGE>

2.      Approve the Board remuneration report                         Mgmt          For            *
        for the YE 31 MAR 2003
3.      Declare a final dividend in respect                           Mgmt          For            *
        of the YE 31 MAR 2003 of 24.5 pence
        per ordinary share
4.      Elect Mr. Gregor Alexander as a                               Mgmt          For            *
        Director of the Company
5.      Elect Mr. Rene Medrol as a Director                           Mgmt          For            *
        of the Company
6.      Elect Ms. Susan Rlce as a Director                            Mgmt          For            *
        of the Company
7.      Elect Sir Robert Smith as a Director                          Mgmt          For            *
        of the Company
8.      Re-elect Mr. Colin Hood as a Director                         Mgmt          For            *
        of the Company
9.      Re-elect Mr. David Paync as a                                 Mgmt          For            *
        Director of the Company
S.13    Authorize the Directors, pursuant to                          Mgmt          For            *
        the authority conferred by Resolution
        14 of 29 JUL 1999 and the Section 95
        of the Companies Act 1985, to allot
        equity securities for cash,
        disapplying the statutory pre-emption
        rights (Section 89(1)), provided
        that this power is limited to the
        allotment of equity securities a) in
        connection with an offer of such
        securities by way of rights to the
        ordinary shareholders; and b) up to
        an aggregate nominal amount of GBP
        21,452,330; Authority expires the
        earlier of, on the conclusion of the
        next AGM, or 29 JUL 2004 ; and the
        Directors may allot equity securities
        after the expiry of this authority
        in pursuance of such an offer or
        agreement made prior to such expiry

<PAGE>

S.14    Authorize the Company, pursuant to                            Mgmt          For            *
        Article 12 of the Articles of
        Association, to make market purchases
        (Section 163(3) of the Companies Act
        1985) of up to 85,809,319 ordinary
        shares of 50p each in the capital of
        the Company, at a minimum price of
        50p and up to 105% of the average of
        the middle market quotations for such
        shares as derived from the Daily
        Official List of the London Stock
        Exchange, over the previous 5
        business days; Authority expires
        the earlier of, on the conclusion of
        the next AGM, or 15 months after
        passing of this resolution ; and the
        Directors may allot equity securities
        after the expiry of this authority
        in pursuance of such an offer or
        agreement made prior to such expiry

-------------------------------------------------------------------------------------------------------
SCOTTISH POWER PLC                                                            Agenda: 700384326
     CUSIP: G79314129                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 7/25/2003           ISIN: GB0006900707
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the annual report and the                             Mgmt          For            *
        accounts for the YE 31 MAR 2003
2.      Approve the remuneration report which                         Mgmt          For            *
        is included in the annual report and
        the accounts for the YE 31 MAR 2003
3.      Elect Mr. Nick Rose as a Director                             Mgmt          For            *
4.      Elect Mr. Donald Brydon as a Director                         Mgmt          For            *
5.      Re-elect Mr. Charles Miller Smith as                          Mgmt          For            *
        a Director
6.      Re-elect Mr. David Nish as a Director                         Mgmt          For            *
7.      Re-appoint PricewaterhouseCoopers LLP                         Mgmt          For            *
        as the Company s Auditors until the
        next year s AGM and authorize the
        Directors to set their remuneration
8.      Authorize the Company, for the                                Mgmt          For            *
        purposes of Part XA of the Companies
        Act 1985, to make donations to EU
        political organizations and to incur
        EU political expenditure up to a
        maximum aggregate amount of GBP
        100,000; Authority expires at the
        conclusion of the AGM in 2004

<PAGE>

S.10    Authorize the Company to make market                          Mgmt          For            *
        purchases Section 163(3) of up to
        185,615,798 ordinary shares of 50p
        each, at a minimum price of 50p and
        up to 5% over the average middle
        market price of such shares, based on
        the London Stock Exchange Daily
        Official List, over the previous 5
        business days; Authority expires the
        earlier of the conclusion of the
        next AGM of the Company or 25 JUL
        2004 ; the Company, before the
        expiry, may make a contract to
        purchase ordinary shares which will
        or may be executed wholly or partly
S.9     Authorize the Directors, pursuant to                          Mgmt          For            *
        Section 95 of the Companies Act 1985,
        to allot equity securities Section
        94(2) for cash, relying on the
        authority given by the shareholders
        on 28 JUL 2002, disapplying the
        statutory pre-emption rights Section
        89(1) , provided that this power is
        limited to the allotment of equity
        securities: a) in connection with a
        rights issue in favor of ordinary
        shareholders; b) up to an aggregate
        nominal amount of GBP 46,403,949;
        Authority expires the earlier of the
        conclusion of the next AGM of the
        Company or 25 JUL 2004 ; and the
        Directors may allot equity securities
        after the expiry of this authority
        in pursuance of such an offer or
        agreement made prior to such expiry

-------------------------------------------------------------------------------------------------------
SHUI ON CONSTRUCTION & MATERIALS LTD                                          Agenda: 700395280
     CUSIP: G8114W108                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 9/2/2003            ISIN: BMG8114W1082
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and approve the audited                               Mgmt          For            *
        financial statements and the reports
        of the Directors and the Auditors for
        the YE 31 MAR 2003
2.      Elect the Directors and approve to                            Mgmt          For            *
        fix their remuneration
3.      Re-appoint the Auditors and authorize                         Mgmt          For            *
        the Directors to fix their

<PAGE>

4.I     Authorize the Directors of the                                Mgmt        Against          *
        Company to allot, issue and deal with
        additional shares of HKD 1.00 each
        in the capital of the Company and
        make or grant offers, agreements and
        options during and after the relevant
        period, not exceeding 20% of the
        aggregate nominal amount of the
        issued share capital of the Company
        at the date of passing this
        resolution, otherwise than pursuant
        to: i) a rights issue; or ii) any
        option scheme or similar arrangement;
        or iii) any scrip dividend pursuant
        to the Bye-laws of the Company; and
        Authority expires the earlier of the
        conclusion of the next AGM of the
        Company or the expiration of the
        period within which the next AGM is
4.II    Authorize the Directors of the                                Mgmt          For            *
        Company to repurchase shares of HKD
        1.00 each in the capital of the
        Company during the relevant period,
        on The Stock Exchange of Hong Kong
        Limited Stock Exchange , subject to
        and in accordance with all applicable
        laws and the requirements of the
        Rules Governing the Listing of
        Securities on the Stock Exchange, not
        exceeding 10% of the aggregate
        nominal amount of the issued share
        capital at the date of passing this
        resolution; and Authority expires
        the earlier of the conclusion of the
        next AGM of the Company or the
        expiration of the period within which
        the next AGM is to be held by law
4.III   Approve to extend the general mandate                         Mgmt          For            *
        granted to the Directors to allot,
        issue and deal with additional shares
        of the Company pursuant to
        Resolution 4.I, by an amount
        representing the aggregate nominal
        amount of the share capital of the
        Company repurchased pursuant to
        Resolution 4.II, provided that such
        amount does not exceed 10% of the
        aggregate nominal amount of the
        issued share capital of the Company

<PAGE>

4.IV    Approve, pursuant to Clause 6.2 of                            Mgmt          For            *
        the Share Option Scheme Scheme
        adopted by the Company on 27 AUG
        2002, to grant for refreshing 10%
        limit under the Scheme provided that:
        i) the total number of shares of HKD
        1.00 each in the capital of the
        Company which may be issued upon the
        exercise of all options to be granted
        under the Scheme and any other share
        option schemes of the Company, not
        exceed 10% of the aggregate nominal
        amount of the share capital of the
        Company at the date of passing of
        this Resolution; and ii) options
        previously granted under the Scheme
        and any other share option schemes of
        the Company shall not be counted for
        the purposes of calculating the 10%
        limit as refreshed hereby

-------------------------------------------------------------------------------------------------------
SPIRAX-SARCO ENGINEERING PLC                                                  Agenda: 700478642
     CUSIP: G83561103                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/13/2004           ISIN: GB0008347048
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the Directors report and                              Mgmt          For            *
        accounts
10.     Authorize the Directors, subject to                           Mgmt          For            *
        and in accordance with Article 6 of
        the Articles of Association, to allot
        securities up to an aggregate
        nominal amount of GBP 6,200,000;
        (Authority expires 12 MAY 2009 and
        revoke all authorities under Section
        80 of the Companies Act 1985)
11.     Authorize the Directors, subject to                           Mgmt          For            *
        and in accordance with Article 7 of
        the Articles of Association (
        Paragraph (1)(b)) to allot equity
        securities, provided that this power
        is limited to the allotment of equity
        securities for cash up to an
        aggregate nominal amount equal to GBP
        934,000; (Authority expires on 12 MAY
        2009 and revoke all authorities under
        Section 95 of the Companies Act
12.     Authorize the Directors, pursuant to                          Mgmt          For            *
        Article 109 of the Articles of
        Association, to approve the issue of
        shares in lieu of cash dividend
        declared or paid for the FYE 31 DEC
        2008
2.      Approve the Directors remuneration                            Mgmt          For            *

<PAGE>

        report
3.      Declare a final dividend                                      Mgmt          For            *
4.      Appoint Mr. N.H. Daws as a Director                           Mgmt          For            *
5.      Re-appoint Mr. G.P. Marchand as a                             Mgmt          For            *
        Director
6.      Re-appoint Mr. D.J. Meredith as a                             Mgmt          For            *
        Director
7.      Re-appoint Mr. P.A. Smith as a                                Mgmt          For            *
8.      Re-appoint Mr. M. Townsend as a                               Mgmt          For            *
        Director
9.      Re-appoint KPMG Audit PLC as the                              Mgmt          For            *
        Auditors of the Company and authorize
        the Audit Committee to determine the
        remuneration
S.13    Authorize the Company to make market                          Mgmt          For            *
        purchase, in accordance with Section
        163 of the Companies Act 1985 and
        subject to Article 11 of the Articles
        of Association, of up to 7,400,000
        ordinary shares at a minimum price of
        25p and up to 105% above the average
        market quote over the prebious 5
        trading days; (Authority expires at
        the conclusion of the next AGM)

-------------------------------------------------------------------------------------------------------
TEXWINCA HOLDINGS LTD                                                         Agenda: 700396117
     CUSIP: G8770Z106                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 8/28/2003           ISIN: BMG8770Z1068
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and approve the audited                               Mgmt          For            *
        consolidated financial statements and
        the reports of the Directors and of
        the Auditors for the YE 31 MAR 2003
2.      Declare a final dividend                                      Mgmt          For            *
3.      Elect the Directors and authorize the                         Mgmt          For            *
        Board of Directors to fix their
        remuneration
4.      Appoint the Auditors and authorize                            Mgmt          For            *
        the Board of Directors to fix their
        remuneration

-------------------------------------------------------------------------------------------------------
TEXWINCA HOLDINGS LTD                                                         Agenda: 700399985
     CUSIP: G8770Z106                         Meeting Type: SGM
    Ticker:                                   Meeting Date: 8/28/2003           ISIN: BMG8770Z1068
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

1.      Authorize the Directors of the                                Mgmt          For            *
        Company to purchase its shares in the
        capital of the Company during the
        relevant period, subject to and in
        accordance with all applicable laws
        and regulations, and the purchase
        shall not exceed 10% of the total
        nominal amount of the issued share
        capital at the date of passing this
        resolution; Authority expires the
        earlier of the conclusion of the next
        AGM or the expiration of the period
        within which the next AGM is to be
        held or if the authority is revoked
        by an ordinary resolution in a
2.      Authorize the Directors, to allot,                            Mgmt        Abstain          *
        issue and deal with additional shares
        of the Company, and to make or grant
        offers, agreements and options
        during and after the relevant period,
        not exceeding 20% of the total
        nominal amount of the issued share
        capital of the Company at the date of
        passing this resolution, otherwise
        than pursuant to (i) a rights issue;
        (ii) the exercise of options; (iii)
        any scrip dividend scheme or similar
        arrangement; Authority expires the
        earlier of, the conclusion of the
        next AGM or the expiration of the
        period within which the next AGM is
        to be held or if the authority is
        revoked by an ordinary resolution in
        a general meeting
3.      Approve to extend the general mandate                         Mgmt          For            *
        granted to the Directors of the
        Company to allot shares and to make
        or grant offers, agreements and
        options pursuant to Resolution 2, by
        an amount representing the aggregate
        nominal amount of the share capital
        repurchased by the Company pursuant
        to Resolution 1, provided that such
        amount does not exceed 10% of the
        total nominal amount of the issued
        share capital of the Company at the
        date of passing this resolution

-------------------------------------------------------------------------------------------------------
ULTRAFRAME PLC                                                                Agenda: 700442786
     CUSIP: G9187J107                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 1/23/2004           ISIN: GB0001574788
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve to adopt the financial                                Mgmt          For            *
        statements, reports of the Directors

<PAGE>

        and the Auditors
2.      Approve the report on remuneration                            Mgmt          For            *
3.      Approve the proposed dividend                                 Mgmt          For            *
4.      Re-elect Mr. R.H. Sellers                                     Mgmt          For            *
5.      Re-elect Mr. P.N. Gale                                        Mgmt          For            *
6.      Re-elect Mr. C. Richardson                                    Mgmt          For            *
7.      Elect Mr. R.J. Scott                                          Mgmt          For            *
8.      Re-appoint KPMG Audit PLC as the                              Mgmt          For            *
        Auditors
9.      Authorize the Directors to allot                              Mgmt          For            *
        relevant securities, pursuant to
        Section 80 of the Companies Act 1985
S.10    Authorize the Directors to allot                              Mgmt          For            *
        equity securities pursuant to Section
        95 of the Companies Act 1985

-------------------------------------------------------------------------------------------------------
ULTRAFRAME PLC                                                                Agenda: 700442798
     CUSIP: G9187J107                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 1/23/2004           ISIN: GB0001574788
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Authorize the Company to make market                          Mgmt          For            *
        purchases
2.      Approve the Rule 9 Waiver relating to                         Mgmt          For            *
        the Ultraframe shareholders

-------------------------------------------------------------------------------------------------------
UNITED UTILITIES PLC                                                          Agenda: 700388324
     CUSIP: G92806101                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 7/30/2003           ISIN: GB0006462336
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive the accounts and the                                  Mgmt          For            *
        Directors and the Auditors reports
        for the YE 31 MAR 2003
2.      Declare a final dividend                                      Mgmt          For            *
3.      Re-elect Mr. John Roberts as a                                Mgmt          For            *
4.      Re-elect Mr. Gordon Waters as a                               Mgmt          For            *
        Director
5.      Re-elect Mr. Jane Newell as a                                 Mgmt          For            *
6.      Approve the Directors remuneration                            Mgmt          For            *
        report for the YE 31 MAR 2003
7.      Re-appoint Deloitte & Touche as the                           Mgmt          For            *
        Company s Auditor and authorize the
        Directors to fix the Auditor s
        remuneration

<PAGE>

8.      Authorize the Directors to allot the                          Mgmt          For            *
        Company s relevant securities
        Section 80(2) of the Companies Act
        1985 up to an aggregate nominal
        amount of GBP 185,565,137; Authority
        expires the earlier of the
        conclusion of the AGM of the Company
        or 30 OCT 2004 ; and the Directors
        may allot relevant securities after
        the expiry of this authority in
        pursuance of such an offer or
        agreement made prior to such expiry
S.10    Authorize the Company, in accordance                          Mgmt          For            *
        with Chapter VII of part V of the
        Companies Act 1985, or otherwise as
        permitted by law and by the Company s
        Articles of Association, to make
        market purchases Section 163(3) of
        up to 55,669,541 of its own ordinary
        shares, at a lowest price of ordinary
        shares is GBP 1 and not more than 5%
        of the average middle market
        quotations for such shares derived
        from the Daily Official List of the
        London Stock Exchange, over the
        previous 5 business days; and
        Authority expires the earlier of the
        conclusion of the AGM of the Company
        in 2004 or 30 OCT 2004 ; the Company,
        before the expiry, may make a
        contract to purchase ordinary shares
        which will or may be executed wholly
        or partly after such expiry
S.9     Authorize the Directors, for the                              Mgmt          For            *
        purpose of Section 95(1) of the
        Companies Act 1985, to allot equity
        securities Section 94(2) acting
        under the general the authority
        conferred by Resolution 8,
        disapplying the statutory pre-emption
        rights Section 89(1) , provided
        that this power is limited to the
        allotment of equity securities: i) in
        connection with a rights issue or
        other issue in favor of ordinary
        shareholders; ii) up to an aggregate
        nominal amount of GBP 27,834,770;
        Authority expires the earlier of the
        conclusion of the AGM of the Company
        in 2004 or 30 OCT 2004 ; and the
        Directors may allot equity securities
        after the expiry of this authority
        in pursuance of such an offer or
        agreement made prior to such expiry

<PAGE>

-------------------------------------------------------------------------------------------------------
UNITED UTILITIES PLC                                                          Agenda: 700399543
     CUSIP: G92806101                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 8/26/2003           ISIN: GB0006462336
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
S.1     Approve, subject to and conditional                           Mgmt          For            *
        upon admission, nil paid, to the
        Official List of the United Kingdom
        Listing Authority and admission to
        trading on the London Stock Exchange
        market for listed securities of new A
        shares of 50 pence each in the
        capital of the Company to be issued
        by the Company in connection with the
        rights issue, and to such admission
        becoming effective: (A) that the
        authorized share capital of the
        Company be and is hereby increased
        from GBP 800,000,000 to GBP
        1,119,000,000 by the creation of
        638,000,000 A shares of 50 pence each
        having the rights and being subject
        to the restrictions set out in the
        Articles of Association of the
        Company as to be amended pursuant to
        part (E) of this resolution; (B) that
        the Directors of the Company be and
        are hereby generally and
        unconditionally authorized in
        accordance with the section 80 and
        the Companies Act 1985: to exercise
        all the powers of the Company to
        allot relevant securities (as defined
        in section 80(2) of the Act) up to
        an aggregate nominal amount of GBP
        319,000,000 in connection with the
        Rights Issue and the issue of further
        A Shares in 2005 being those A
        Shares to be issued upon exercise of
        the subscription rights pursuant to
        the terms of the A Shares and
        otherwise to be issued as described
        in the Prospectus provided that this
        authority shall expire on 31 JUL
        2005; to exercise all the powers of
        the Company to allot relevant
        securities (as defined in section
        80(2) of the Act) up to an aggregate
        nominal amount of GBP 237,000,000
        provided that this authority shall
        expire at the end of the Companys AGM
        to be held in 2004 or, if earlier,
        on 30 OCT 2004, unless it has been
        renewed, changed or cancelled by the

<PAGE>

        Company in general meeting before
        then but so that the Directors may at
        any time before such expiry make
        offers or enter into arrangements
        which would or might require relevant
        securities to be allotted after such
        expiry and the Directors may allot
        relevant securities in pursuance of
        any such offer or agreement as if the
        authority conferred hereby had not
        expired; (C) that the Directors of
        the Company be and are hereby
        empowered pursuant to section 95(1)
        of the Act to allot equity securities
        (within the meaning of section 94 of
        the Act) for cash as if section
        89(1)of the Act did not apply to any
        such allotment provided that this
        power shall be limited to: the
        allotment of A Shares up to an
        aggregate nominal value of GBP
        319,000,000 in connection with the
        Rights Issue and the issue of further
        A Shares in 2005 being those A
        Shares to be issued upon the exercise
        of the subscription rights pursuant
        to the terms of the A Shares and
        otherwise to be issued Authority
        shall expire on 31 JUL 2005 ; In
        addition, the allotment of equity
        securities in connection with a
        rights issue or other issue in favor
        of the holders of ordinary shares and
        the allotment (otherwise than
        pursuant to sub-paragraph (1) or (2)
        above) of equity securities for cash
        up to an aggregate nominal value of
        GBP 35,500,000, provided that the
        authority referred to in (C)(2) and
        (3) above will expire at the end of
        the Companys AGM to be held in 2004
        or, if earlier, on 30 OCT 2004; (D)
        approve in accordance with Chapter
        VII of Part V of the Act, or
        otherwise as permitted by law and by
        the Companys Articles of Association,
        the Company is authorized,
        unconditionally, to make market
        purchases (as defined in section
        163(3) of that Act) of its ordinary
        shares or A Shares subject to the
        terms set out below but otherwise on
        the terms and in the manner the
        Directors may, from time to time,
        decide provided that no more that
        55,680,000 ordinary shares or
        30,933,000 A Shares can be purchased;

<PAGE>

        the lowest price which can be paid
        for an ordinary share is GBP 1 and an
        A Share is 50 pence (excluding
        expenses); the highest price which
        can be paid for an ordinary share or
        an A Share is (as the case may be) is
        5 per cents; Authority shall expire
        at the end of the Companys AGM to be
        held in 2004 or, if earlier, 30 OCT
        2004 ; (E) Amend the Articles of
        Association of the Company by the
        deletion of Article 5 in its entirety
        and its replacement of a new Article
        5; (F) Approve, with effect from the
        end of the fifth business day
        following the Subscription date, the
        following consolidation and
        reclassification of all A shares then
        in issue shall take place in
        accordance with Article 5.2 of the
        Articles of Association; and (G)

-------------------------------------------------------------------------------------------------------
WOLVERHAMPTON & DUDLEY BREWERIES PLC                                          Agenda: 700444463
     CUSIP: G97336120                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 1/23/2004           ISIN: GB0031229452
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and adopt the Company s                               Mgmt          For            *
        accounts and the reports of the
        Directors and the Independent
        Auditors for the 52 weeks ended 27
10.     Authorize the Directors, pursuant to                          Mgmt          For            *
        Section 80 of the Companies Act 1985,
        to allot relevant securities Section
        80 of the Companies Act up to an
        aggregate nominal amount of GBP
        7,187,162; Authority expires the
        earlier of the conclusion of the next
        AGM of the Company or 22 APR 2005 ;
        and the Directors may allot relevant
        securities after the expiry of this
        authority in pursuance of such an
        offer or agreement made prior to such
        expiry
2.      Declare and approve to confirm                                Mgmt          For            *
        dividends
3.      Elect Mr. Alistair Darby as a                                 Mgmt          For            *
4.      Re-elect Mr. David Thompson as a                              Mgmt          For            *
        Director
5.      Re-elect Mr. Ralph Findlay as a                               Mgmt          For            *
        Director
6.      Appoint PricewaterhouseCoopers LLP as                         Mgmt          For            *
        the Independent Auditors of the
        Company and authorize the Directors

<PAGE>

        to fix their remuneration
7.      Approve the Directors remuneration                            Mgmt          For            *
        report for the YE 27 SEP 2003
8.      Approve the Wolverhampton & Dudley                            Mgmt          For            *
        Breweries PLC 2004 Executive Share
        Option Scheme 2004 Scheme and
        authorize the Directors to do all
        acts things necessary to operate the
        Scheme and to vote and be counted in
        quorum on nay matter connected with
        the Scheme notwithstanding that they
        may be interested in the share,
        except that no Director may vote or
        be counted in a quorum in respect of
        his own participation in the Scheme
        and any provisions of the Articles of
        Association of the Company be and
        hereby relaxed to that extent
        accordingly
9.      Approve that the rules of the                                 Mgmt          For            *
        Wolverhampton & Dudley Breweries PLC
        Long Term Incentive Plan 2004 LTIP
        and authorize the Directors to make
        such maodifications to the LTIP as
        they may deem necessary to take
        account of the requirements of the UK
        Listing Authority and best practice,
        to adopt the LTIP as so modified and
        do all acts and things necessary to
        operate the LTIP and to vote and be
        counted in a quorum on any matter
        connected with the LTIP
        notwithstanding that they may be
        interested in the same, except that
        no Director may be counted in a
        quorum or vote in respect of his own
        participation and any provisions of
        the Articles of Association of the
        Company be and hereby relaxed to the
        extent accordingly
S.11    Authorize the Directors, subject to                           Mgmt          For            *
        the passing of Resolution 10 and
        pursuant to Section 95 of the
        Companies Act 1985, to allot equity
        securities Section 94(2) and Section
        94(3A) for cash pursuant to the
        authority conferred by Resolution 10,
        disapplying the statutory pre-
        emption rights Section 89(1) ,
        provided that this power is limited
        to the allotment of equity
        securities: a) in connection with an
        issue in favor of ordinary
        shareholders; b) up to an aggregate
        nominal amount of GBP 1,078,074;
        Authority expires the earlier of the

<PAGE>

        conclusion of the next AGM of the
        Company or 22 APR 2005 ; and the
        Board may allot equity securities
        after the expiry of this authority in
        pursuance of such an offer or
S.12    Authorize the Company, for the                                Mgmt          For            *
        purpose of Section 166 of the
        Companies Act 1985, to make market
        purchases Section 163(3) of up to
        10,956,158 BP 3,232,067 ordinary
        shares of 29.5p each in the capital,
        at a minimum price of 29.5p and up to
        105% of the average middle market
        quotations for such shares derived
        from the Daily Official List of the
        London Stock Exchange, over the
        previous 5 business days; Authority
        expires the earlier of the conclusion
        of the next AGM of the Company or 22
        APR 2005 ; the Company, before the
        expiry, may make a contract to
        purchase ordinary shares which will
        or may be executed wholly or partly

-------------------------------------------------------------------------------------------------------
XL CAPITAL LTD                                                                Agenda: 932119515
     CUSIP: G98255105                         Meeting Type: Annual
    Ticker: XL                                Meeting Date: 4/30/2004           ISIN:
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
01      JOHN LOUDON                                                   Mgmt          For           For
        ROBERT S. PARKER                                              Mgmt          For           For
        ALAN Z. SENTER                                                Mgmt          For           For
02      TO RATIFY THE APPOINTMENT OF                                  Mgmt          For           For
        PRICEWATERHOUSECOOPERS LLP, NEW YORK,
        TO ACT AS THE INDEPENDENT AUDITORS OF
        THE COMPANY FOR THE FISCAL YEAR
        ENDING DECEMBER 31, 2004.

-------------------------------------------------------------------------------------------------------
GEBERIT AG, JONA                                                              Agenda: 700481790
     CUSIP: H2942E108                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/22/2004           ISIN: CH0008038223
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

        Please note that this is Part II of                           Non-
        the meeting notice sent under meeting                        Voting
        #124150, including the agenda. To
        vote in the upcoming meeting, your
        name must be notified to the company
        registrar as beneficial owner before
        the re-registration deadline.
        Therefore, ADP cutoff date for this
        meeting is calculated based on the
        re-registration deadline set by the
        market. However, shareholders that
        are already registered at the company
        books are entitled to submit their
        voting instructions up until 09 APR
        2004. Please note that those
        instructions that are submitted after
        the ADP cutoff date will be processed
        on a best effort basis.
1.      Approve the annual report, the annual                         Mgmt          For            *
        financial statements and the
        consolidated financial statements
        2003 as well as acknowledge the
        reports of the Auditors and the Group
2.      Approve to dispose of retained                                Mgmt          For            *
3.      Grant discharge to the Board of                               Mgmt          For            *
        Directors
4.      Elect the Board of Directors                                  Mgmt          For            *
5.      Elect the Auditors and the Group                              Mgmt          For            *
        Auditors
6.      Amend the Articles of Incorporation                           Mgmt          For            *
        about the authorization of a capital
        increase

-------------------------------------------------------------------------------------------------------
SWISSCOM AG, ITTIGEN                                                          Agenda: 700486182
     CUSIP: H8398N104                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/27/2004           ISIN: CH0008742519
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        Please note that this is the Part II                          Non-
        of the meeting notice sent under                             Voting
        meeting #124168, including the
        agenda. To vote in the upcoming
        meeting, your name must be notified
        to the company registrar as
        beneficial owner before the re-
        registration deadline. Please note
        that those instructions that are
        submitted after the ADP cutoff date
        will be processed on a best effort

<PAGE>

1.      Approve the annual reports, the                               Mgmt          For            *
        annual accounts and the accounts of
        the Group for the business year 2003,
        the reports of the Auditors and the
        Group Auditor
2.      Approve the appropriation of the                              Mgmt          For            *
        balance profit and the fixing of
        dividend
3.      Grant discharge the Members of the                            Mgmt          For            *
        Board of Directors and the Management
4.      Elect the Auditors and the Group                              Mgmt          For            *
        Auditor

-------------------------------------------------------------------------------------------------------
TONENGENERAL SEKIYU K.K., TOKYO                                               Agenda: 700467029
     CUSIP: J8657U110                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 3/26/2004           ISIN: JP3428600005
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1       Approve Allocation of Income,                                 Mgmt          For            *
        Including the Following Dividends:
        Interim JY 18, Final JY 18, Special
        JY 0
2       Amend Articles to: Authorize Share                            Mgmt        Abstain          *
        Repurchases at Board s Discretion -
        Allow Appointment of Alternate
        Statutory Auditors
3.1     Elect Director                                                Mgmt          For            *
3.2     Elect Director                                                Mgmt          For            *
4       Appoint Alternate Statutory Auditor                           Mgmt          For            *

-------------------------------------------------------------------------------------------------------
TDC A/S (EX?: TELE DANMARK AS)                                                Agenda: 700463817
     CUSIP: K94545108                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 3/29/2004           ISIN: DK0010253335
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        IMPORTANT MARKET PROCESSING                                   Non-
        REQUIREMENT: A BENEFICIAL OWNER                              Voting
        SIGNED POWER OF ATTORNEY (POA) IS
        REQUIRED IN ORDER TO LODGE AND
        EXECUTE YOUR VOTING INSTRUCTIONS IN
        THIS MARKET. ABSENCE OF A POA, MAY
        CAUSE YOUR INSTRUCTIONS TO BE
        REJECTED. SHOULD YOU HAVE ANY
        QUESTIONS, PLEASE CONTACT YOUR CLIENT
        SERVICE REPRESENTATIVE AT ADP.
1.      Elect the Chairman of the meeting                             Mgmt          For            *
10.     Any other business                                            Other         For            *

<PAGE>

2.      Approve the Board of Directors report                         Mgmt          For            *
        on the activities of the Company
        during the preceding year
3.      Receive and adopt the financial                               Mgmt          For            *
        statements the annual report
4.      Grant discharge to the Executive                              Mgmt        Against          *
        Committee and the Board of Directors
        from their obligations in respect of
        the annual report
5.      Approve the appropriation of profit                           Mgmt          For            *
        according to the adopted annual
6.1     Re-elect Mr. Thorleif Krarup as a                             Mgmt          For            *
        Member and Chairman of the Board of
        Directors, according to Article 14 of
        the Articles of Association
6.10    Elect Mr. William Caldwellas a first                          Mgmt          For            *
        alternate to the Members of the Board
        of Directors, according to Article
        14 of the Articles of Association
6.2     Re-elect Mr. Lloyd Kelley as a Member                         Mgmt          For            *
        and Vice Chairman of the Board of
        Directors, according to Article 14 of
        the Articles of Association
6.3     Re-elect Mr. James W. Callaway as a                           Mgmt          For            *
        Member of the Board of Directors,
        according to Article 14 of the
        Articles of Association
6.4     Re-elect Mr. Larry Boyle as a Member                          Mgmt          For            *
        of the Board of Directors, according
        to Article 14 of the Articles of
        Association
6.5     Elect Mr. Jonathan Kiug as a Member                           Mgmt          For            *
        of the Board of Directors, according
        to Article 14 of the Articles of
        Association
6.6     Re-elect Mr. Niels Heering as a                               Mgmt          For            *
        Member of the Board of Directors,
        according to Article 14 of the
        Articles of Association
6.7     Re-elect Mr. Rick L. Moore as a                               Mgmt          For            *
        Member of the Board of Directors,
        according to Article 14 of the
        Articles of Association
6.8     Re-elect Mr. Kurt Anker Nielsen as a                          Mgmt          For            *
        Member of the Board of Directors,
        according to Article 14 of the
        Articles of Association
6.9     Elect Mr. Richard McCormick as a                              Mgmt          For            *
        first alternate to the Members of the
        Board of Directors, according to
        Article 14 of the Articles of

<PAGE>

7.      Re-elect PricewaterhouseCoopers and                           Mgmt          For            *
        Ernst & Young, statsautoriseret
        revisionsaktieselskeb, as the
        Auditors of the Company
8.      Amend the Article 40 of the Articles                          Mgmt          For            *
        of Association
9.      Authorize the Board of Directors to                           Mgmt          For            *
        acquire own shares up to a nominal
        value of 10% of the Companys share
        capital Section 48 of the Danish
        Companies Act ; the purchase price
        for such shares may not deviate by
        more than 10% from the price quoted
        by the Copenhagen Stock Exchange at
        the time of acquisition; Authority
        expires at the next AGM

-------------------------------------------------------------------------------------------------------
ABN AMRO HOLDING NV                                                           Agenda: 700482069
     CUSIP: N0030P459                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/29/2004           ISIN: NL0000301109
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE THAT BLOCKING CONDITIONS                          Non-
        FOR VOTING AT THIS GENERAL MEETING                           Voting
        ARE RELAXED. BLOCKING PERIOD ENDS ONE
        DAY AFTER THE REGISTRATION DATE SET
        ON 22 APR 2004. SHARES CAN BE TRADED
        THEREAFTER. THANK YOU
1.      Receive the report of Board of                                Mgmt          For            *
        Management for the year 2003
10.     Any other business                                            Other         For            *
2.      Approve the Corporate Governance                              Mgmt          For            *
3.a     Approve the establishment of the                              Mgmt          For            *
        annual accounts 2003
3.b     Approve the establishment of the                              Mgmt          For            *
        proposed dividend
3.c     Grant discharge to the Board of                               Mgmt          For            *
        Management
3.d     Grant discharge to the Supervisory                            Mgmt          For            *
        Board
4.      Approve the remuneration Board of                             Mgmt          For            *
        Management and Top Executives
5.      Appoint an Auditor                                            Mgmt          For            *
6.a     Re-appoint Mrs. T.A. Mass-de Brouwer                          Mgmt          For            *
        as a Member of the Supervisory Board
6.b     Appoint Mr. A.A. Olijslager as a                              Mgmt          For            *
        Member of the Supervisory Board
7.a     Approve the cancellation of                                   Mgmt          For            *
        preference shares

<PAGE>

7.b     Approve to alter the Articles of                              Mgmt          For            *
        Association
8.      Authorize the Managing Board, subject                         Mgmt          For            *
        to the approval of the Supervisory
        Board , to repurchase shares in the
        Company s capital
9.a     Authorize the Managing Board for a                            Mgmt          For            *
        period of 18 months, to issue the
        ordinary shares up to a maximum of
        20% of the total amount of the issued
        capital
9.b     Authorize the Managing Board to                               Mgmt          For            *
        restrict or exclude the pre-emptive
        rights granted to shareholders up to
        a maximum of 20% of the total amount
        of the issued capital

-------------------------------------------------------------------------------------------------------
AEGON NV                                                                      Agenda: 700485483
     CUSIP: N0089J123                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/22/2004           ISIN: NL0000301760
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Opening and minutes                                           Non-
                                                                     Voting
2.      Approve the annual report for 2003,                           Mgmt          For            *
        the dividend and discharge
3.      Approve the annual report for 2004                            Mgmt          For            *
        and following years
4.      Approve the Corporate governance                              Mgmt          For            *
5.      Approve the composition of the                                Mgmt          For            *
        Supervisory Board
6.      Authorize to issue shares and to                              Mgmt        Against          *
        acquire shares
7.      Other matters                                                 Other         For            *
8.      Closure                                                       Non-
                                                                     Voting

-------------------------------------------------------------------------------------------------------
EURONEXT NV, AMSTERDAM                                                        Agenda: 700510945
     CUSIP: N3113K108                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/26/2004           ISIN: NL0000241511
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Opening                                                       Non-
                                                                     Voting
10.     Appoint the Auditor                                           Mgmt          For            *
11.     Other Business                                                Other         For            *
12.     Closing                                                       Non-
                                                                     Voting

<PAGE>

2.      Appoint the Secretary of the meeting                          Mgmt          For            *
3.A     Approve the Executive Board report                            Mgmt          For            *
3.B     Approve the annual account for 2003                           Mgmt          For            *
3.C     Approve the reserve and the dividend                          Mgmt          For            *
        policy
3.D     Grant discharge to the Executive                              Mgmt          For            *
3.E     Grant discharge to the Supervisory                            Mgmt          For            *
        Board
4.      Approve the corporate governance                              Mgmt          For            *
5.      Approve the remuneration policy by                            Mgmt          For            *
        the Executive Board
6.      Approve the Euronext Stock Option                             Mgmt          For            *
        Plan 2004
7.A     Authorize the Board to acquire own                            Mgmt          For            *
        shares
7.B     Authorize the Board to decrease                               Mgmt          For            *
        outstanding share capital
8.      Re-appoint the Supervisory Board                              Mgmt          For            *
9.      Approve the remuneration for the                              Mgmt          For            *
        Supervisory Board

-------------------------------------------------------------------------------------------------------
KONINKLIJKE KPN NV                                                            Agenda: 700477791
     CUSIP: N4297B146                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/15/2004           ISIN: NL0000009082
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE THAT BLOCKING CONDITIONS                          Non-
        FOR VOTING AT THIS GENERAL MEETING                           Voting
        ARE RELAXED. BLOCKING PERIOD ENDS ONE
        DAY AFTER THE REGISTRATION DATE SET
        ON 08 APR 2004. SHARES CAN BE TRADED
        THEREAFTER. THANK YOU
1.      Opening and announcements                                     Mgmt          For            *
10.     Approve to reduce the capital through                         Mgmt          For            *
        withdrawal of shares of the Company
11.     Any other business and closure                                Other         For            *
2.      Approve the report by the Board Of                            Mgmt          For            *
        Management for the FY 2003
3.A     Approve the financial statements for                          Mgmt          For            *
        the FY 2003
3.B     Approve the dividend policy                                   Mgmt          For            *
3.C     Approve to adopt a dividend over the                          Mgmt          For            *
        FY 2003
4.A     Grant discharge to the Members of the                         Mgmt          For            *
        Board of Managements from liability
4.B     Grant discharge to the Member of the                          Mgmt          For            *
        Supervisory Board

<PAGE>

5.      Approve the Corporate Governance                              Mgmt          For            *
6.      Approve the establishment of                                  Mgmt          For            *
        remuneration policy
7.A     Appoint the Auditors                                          Mgmt          For            *
7.B     Approve to publish the annual                                 Mgmt          For            *
        accounts and the annual report in the
        English language
8.A     Approve the opportunity to make                               Mgmt          For            *
        recommendations for the appointment
        of a Member of the Supervisory Board
8.B     Approve the opportunity to object to                          Mgmt          For            *
        the proposed appointment
8.C     Approve the announcement concerning                           Mgmt          For            *
        vacancies arising at the AGM of
        shareholders in 2005
8.D     Appoint a new Member of the Board of                          Mgmt          For            *
        Management
9.A     Authorize the Board to acquire shares                         Mgmt          For            *
        of the Company
9.B     Appoint Board of Management to issue                          Mgmt          For            *
        shares of the Company
9.C     Appoint the Board of Management to                            Mgmt          For            *
        limit or exclude the emptive rights

-------------------------------------------------------------------------------------------------------
IHC CALAND NV                                                                 Agenda: 700508647
     CUSIP: N44062128                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/14/2004           ISIN: NL0000360584
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE THAT THIS IS AN AMENDMENT                         Non-
        TO MEETING 113392, DUE TO ADDITIONAL                         Voting
        RESOLUTIONS. ALL VOTES RECEIVED ON
        THE PREVIOUS MEETING WILL BE
        DISREGARDED AND YOU WILL NEED TO
        REINSTRUCT ON THIS MEETING NOTICE.
1.      Opening                                                       Non-
                                                                     Voting
10.     Approve the remuneration of members                           Mgmt          For            *
        Supervisory Board
11.     Any other business                                            Other         For            *
12.     Closure                                                       Non-
                                                                     Voting
2.a     Receive the report by Managing                                Mgmt          For            *
        Directors on FY 2003
2.b     Receive the report by Supervisory                             Mgmt          For            *
2.c     Approve the annual accounts 2003 as                           Mgmt          For            *
        established by Supervisory Board

<PAGE>

3.      Approve the policy on addition to                             Mgmt          For            *
        reserves and on dividend
4.      Approve the appropriation of profit                           Mgmt          For            *
        including determination of dividend
        and authorize the Managing Directors
        to determine the ration with regard
        to the stock dividend
5.a     Grant discharge from liability                                Mgmt          For            *
        Managing Directors for their conduct
        of the business in 2003
5.b     Grant discharge Members of                                    Mgmt          For            *
        Supervisory Board for their
6.      Approve the Corporate Governance                              Mgmt          For            *
7.      Grant authority to redeem own shares                          Mgmt          For            *
8 a     Grant authority to issue new ordinary                         Mgmt          For            *
        shares
8.b     Grant authority to restrict or                                Mgmt          For            *
        withdraw the prefential right of
        shareholders when new ordinary shares
        are issued
8.c     Grant authority to issue up to                                Mgmt          For            *
        240.000 shares for the Company s
9.      Approve the composition of the                                Mgmt          For            *
        Supervisory Board

-------------------------------------------------------------------------------------------------------
ING GROEP NV                                                                  Agenda: 700471004
     CUSIP: N4578E413                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/27/2004           ISIN: NL0000303600
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        Please note that this is a revision
        Non- due to the revised wording of
        the Voting agenda. If you have
        already sent in your votes, please do
        not return this proxy form unless you
        decide to amend your original
        instructions.
1.      Opening remarks and announcements.                            Non-
                                                                     Voting
10.     Composition of the Supervisory Board:                         Mgmt          For            *
        Appointment of Eric Bourdais de
        Charbonniere
11.     Authorisation to issue shares and to                          Mgmt        Against          *
        restrict or exclude preferential
        rights. right
12.     Authorisation to the company to                               Mgmt          For            *
        acquire shares or depositary receipts
        for shares in its own capital.
13.     Any other business and conclusion.                            Non-
                                                                     Voting

<PAGE>

2.A     Discussion of the reports of the                              Mgmt          For            *
        Executive Board and the Supervisory
        Board for 2003.
2.B     Discussion of the profit retention                            Mgmt          For            *
        and distribution policy.
3.A     Discussion and adoption of the Annual                         Mgmt          For            *
        Accounts for 2003.
3.B     Adoption of the dividend for 2003.                            Mgmt          For            *
4.      Appointment of the auditor.                                   Mgmt          For            *
5.A     Proposal to discharge the Executive                           Mgmt          For            *
        Board in respect of the duties
        performed during the year 2003.
5.B     Proposal to discharge the Supervisory                         Mgmt          For            *
        Board in respect of the duties
        performed during the year 2003.
6.      Corporate governance.                                         Mgmt          For            *
7.A     Adoption of remuneration policy.                              Mgmt          For            *
7.B     Approval of long-term incentive plan.                         Mgmt          For            *
8.      Amendments to the Articles of                                 Mgmt          For            *
        Association
9.A     Appointment of Eric Boyer de la                               Mgmt          For            *
        Giroday.
9.B     Appointment of Eli Leenaars.                                  Mgmt          For            *
9.C     Appointment of Hans Verkoren.                                 Mgmt          For            *

-------------------------------------------------------------------------------------------------------
UNILEVER NV                                                                   Agenda: 700479050
     CUSIP: N8981F156                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/12/2004           ISIN: NL0000009348
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE THAT BLOCKING CONDITIONS                          Non-
        FOR VOTING AT THIS GENERAL MEETING                           Voting
        ARE RELAXED. BLOCKING PERIOD ENDS ONE
        DAY AFTER THE REGISTRATION DATE SET
        ON 05 MAY 2004. SHARES CAN BE TRADED
        THEREAFTER. THANK YOU
1.      Approve the annual report by the                              Mgmt          For            *
        Executive Board over FY 2003 and the
        report of the remuneration
10.     Grant authority to purchase own                               Mgmt          For            *
11.     Authorize the Executive Board to                              Mgmt          For            *
        restrict the registration time to
        exercise vote and meeting rights
12.     Questions                                                     Other         For            *
2.      Approve to determine the annual                               Mgmt          For            *
        account and the profit designation
        over FY 2003

<PAGE>

3.      Grant discharge to the Members of                             Mgmt          For            *
        Executive Board
4.      Approve the Corporate Governance and                          Mgmt          For            *
        amend the Articles of Association
5.      Appoint the Member of Executive Board                         Mgmt          For            *
6.      Appoint a Non-Executive Member                                Mgmt          For            *
7.      Approve the remuneration of a Non-                            Mgmt          For            *
        Executive Member
8.      Appoint the Auditors                                          Mgmt          For            *
9.      Grant authority to issue own shares                           Mgmt          For            *
        as body

-------------------------------------------------------------------------------------------------------
ALUMINA LTD                                                                   Agenda: 700471903
     CUSIP: Q0269M109                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/21/2004           ISIN: AU000000AWC3
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        Receive and adopt the financial                               Non-
        report and the reports of the                                Voting
        Directors and of the Auditors for the
2.      Re-elect Mr. Peter A.F. Hay as a                              Mgmt          For            *
        Director, who retires in accordance
        with the Company s Constitution
S.3     Amend the Constitution of the Company                         Mgmt          For            *
        i) by amending the Rule 2 ii) by
        amending the Rule 142 and iii) by
        amending the Rule 143 a

-------------------------------------------------------------------------------------------------------
AUSTRALIA & NEW ZEALAND BANKING GROUP LTD                                     Agenda: 700394303
     CUSIP: Q09504137                         Meeting Type: OGM
    Ticker:                                   Meeting Date: 8/13/2003           ISIN: AU000000ANZ3
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
3.      Approve to issue, for all purposes                            Mgmt          For            *
        including the listing rules of the
        Australian Stock Exchange Ltd, of up
        to 12,500,000 reset preferred
        securities at an issue price of AUD
        100 each, to raise up to AUD 1,250,
        substantially on the specified
        general terms and conditions
S.1     Approve the specified terms of the                            Mgmt          For            *
        selective buy-back agreement relating
        to the preference shares issued by
        the Company in SEP 1998 and NOV 1998
S.2     Amend the Company s Constitution by                           Mgmt          For            *
        adding Rule 23.10 immediately after
        Rule 23.9

<PAGE>

-------------------------------------------------------------------------------------------------------
COCHLEAR LIMITED                                                              Agenda: 700414307
     CUSIP: Q25953102                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 10/21/2003          ISIN: AU000000COH5
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and approve the Company s                             Mgmt          For            *
        financial report and the reports of
        the Directors and the Auditors of the
        Company in respect of the YE 30 JUN
        2003
2.1     Re-elect Professor Brian D.O.                                 Mgmt          For            *
        Anderson AO as a Director of the
        Company, who retires by rotation in
        accordance with the Company s
2.2     Re-elect Mr. Peter J. North as a                              Mgmt          For            *
        Director of the Company, who retires
        by rotation in accordance with the
        Company s Constitution
3.      Approve the establishment of the                              Mgmt          For            *
        Cochlear Executive Long Term
        Incentive Plan for employees and
        Executives of the Company
4.      Approve, in accordance with the                               Mgmt          For            *
        Cochlear Executive Long Term
        Incentive Plan: a) the grant to Dr.
        John L. Parker an Executive Director
        of the Company of the number of
        options in accordance with the
        formula and on the specified terms;
        b) the acquisition by the Plan
        Trustee on behalf of Dr. Parker of
        the number of performance shares
        calculated in accordance with the
        formula and the specified terms; and
        c) the issue to Dr. Parker of any
        shares upon the exercise of any such
        options or the transfer by the Plan
        Trustee to Dr. Parker of any such

-------------------------------------------------------------------------------------------------------
COMMONWEALTH BANK OF AUSTRALIA                                                Agenda: 700417593
     CUSIP: Q26915100                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 10/31/2003          ISIN: AU000000CBA7
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Discuss the financial report, the                             Mgmt          For            *
        Directors report and the Auditor s
        report for the YE 30 JUN 2003

<PAGE>

2.A     Re-elect Mr. A B Daniels as a                                 Mgmt          For            *
        Director who retires and, being
        eligible, offers himself for re-
        election, in accordance with Articles
        11.1 and 11.2 of the Constitution of
        Commonwealth Bank of Australia
2.B     Re-elect Mr. W G Kent as a Director                           Mgmt          For            *
        who retires and, being eligible,
        offers himself for re-election, in
        accordance with Articles 11.1 and
        11.2 of the Constitution of
        Commonwealth Bank of Australia
2.C     Re-elect Mr. F D Ryan as a Director                           Mgmt          For            *
        who retires and, being eligible,
        offers himself for re-election, in
        accordance with Articles 11.1 and
        11.2 of the Constitution of
        Commonwealth Bank of Australia
2.D     Re-elect Mr. F J Swan as a Director                           Mgmt          For            *
        who retires and, being eligible,
        offers himself for re-election, in
        accordance with Articles 11.1 and
        11.2 of the Constitution of
        Commonwealth Bank of Australia
2.E     Re-elect Ms. S C Kay as a Director                            Mgmt          For            *
        who retires and, being eligible,
        offers herself for re-election, in
        accordance with Articles 11.4(b) of
        the Constitution of Commonwealth Bank
        of Australia

<PAGE>

S.3     PLEASE NOTE THAT THIS IS A                                     Shr        Against          *
        SHAREHOLDER S PROPOSAL: Approve that
        the Board of Directors issue a report
        (at reasonable cost and omitting
        proprietary information) to
        shareholders by 1 MAY 2004 to
        include: a discussion of the direct
        and indirect environmental risks and
        opportunities that may significantly
        affect the Company s short and long
        term value and how they might impact
        on the business; a description of the
        Company s policies and procedures
        for managing direct and indirect
        risks to short term and long term
        value arising from environmental
        risks; Recognizing the ongoing
        controversy surrounding the logging
        of our old growth forests; the range
        of issues covered by the report
        should also include but not be
        limited to: 1) The risk of engaging
        in any commercial relationship which
        approve or ratify the development of,
        clearfelling of, selective logging
        of, or expenditure of funds on any
        activity which is likely to damage or
        destroy, identified property as
        defined in Clause 3 by a subsidiary,
        joint venture, partnership, trust, or
        other entity in which the Company
        has a pecuniary interest; 2) The
        impact upon the bank of not engaging
        in any commercial relationship that
        shall have the effect of causing the
        company to develop, clearfell,
        selectively log, or expend funds on
        any activity which is likely to
        damage or destroy, identified
        property as defined in Clause 3
        below; 3) For the purposes of Clauses
        1 and 2 above identified property
        means any real property or any part
        of any real property that is of high
        conservation value and old growth
        forest as defined by the reserve

-------------------------------------------------------------------------------------------------------
FLETCHER BUILDING LTD                                                         Agenda: 700422859
     CUSIP: Q3915B105                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 11/11/2003          ISIN: NZFBUE0001S0
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        Any other business                                            Non-
                                                                     Voting
1.1     Re-elect Dr. Roderick Sheldon Deane                           Mgmt          For            *

<PAGE>

        as a Director
1.2     Re-elect Mr. Hugh Fletcher as a                               Mgmt          For            *
        Director
1.3     Re-elect Mr. Geoffrey James McGrath                           Mgmt          For            *
        as a Director
2.      Re-appoint KPMG as the Auditor of the                         Mgmt          For            *
        Company and authorize the Directors
        to fix KPMG s remuneration for the
        ensuing year
3.      Approve and ratify the issue on 27                            Mgmt          For            *
        AUG 2003 of 25,000,000 Fletcher
        Building Limited ordinary shares by
        way of private placement for a total
        consideration of NZD 102.5 million,
        in accordance with the listing rules
        of the New Zealand Exchange Limited
        and the Australian Stock Exchange
S.4     Approve to alter the Constitution of                          Mgmt          For            *
        the Company

-------------------------------------------------------------------------------------------------------
FOSTER S GROUP LTD                                                            Agenda: 700413482
     CUSIP: Q3944W187                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 10/27/2003          ISIN: AU000000FGL6
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        Receive and consider the concise                              Non-
        financial report and the financial                           Voting
        report (financial statements, notes
        and Directors declaration) for the
        YE 30 JUN 2003, together with the
        consolidated accounts of the Company
        and its controlled entities in
        accordance with the Corporations Act
        2001, and the respective reports of
        the Directors and Auditors
1.      Re-elect Mrs. M L Cattermole as a                             Mgmt          For            *
        Director who retires by rotation in
        accorance with the Company s
        Constitution
2.      Approve, as an exception to ASX                               Mgmt          For            *
        Listing Rule 7.1, the issue of
        securities under the Foster s
        Employee Share and Option Plan, the
        Foster s 2001 International Employee
        Share Plan (No.1) and the Foster s
        2001 International Employee Share
        Plan (No.2)
3.      Approve, as an exception to ASX                               Mgmt          For            *
        Listing Rule 7.1, the issue of
        securities under the Foster s Long
        Term Incentive Plan

<PAGE>

4.      Approve, subject to the attainment of                         Mgmt          For            *
        the relevant performance standards
        prescribed under the Foster s Long
        Term Incentive Plan (Plan), the
        acquisition of rights in respect of
        up to a maximum of 558,000 shares in
        respect of the 2003/2004 financial
        year by Mr. E T Kunkel, President and
        Chief Executive Officer of the
        Company, under the Plan

-------------------------------------------------------------------------------------------------------
FOSTER S GROUP LTD                                                            Agenda: 700455961
     CUSIP: Q3944W187                         Meeting Type: OGM
    Ticker:                                   Meeting Date: 3/17/2004           ISIN: AU000000FGL6
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve that, for the purposes of                             Mgmt          For            *
        Section 257C(1) of the Corporations
        Act 2001, the buy-back of up to 200
        million fully paid ordinary shares in
        the Company during the next 12
        months under an on-market buy-back,
        being in excess of the 10/12 limit
        as defined in Section 257B(4) of the
        Corporations Act 2001, as specified
2.      Re-elect Mr. Maxwell G. Ould as a                             Mgmt          For            *
        Director, who retires in accordance
        with the Company s Constitution

-------------------------------------------------------------------------------------------------------
JOHN FAIRFAX HOLDINGS LTD                                                     Agenda: 700418139
     CUSIP: Q50804105                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 10/31/2003          ISIN: AU000000FXJ5
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Re-elect Mr. Mark Burrows as a                                Mgmt          For            *
        Director of the Company
2.      Re-elect Mr. Roger Corbett as a                               Mgmt          For            *
        Director of the Company
3.      Re-elect Mr. David Gonski as a                                Mgmt          For            *
        Director of the Company
4.      Re-elect Ms. Margaret Jackson as a                            Mgmt          For            *
        Director of the Company
5.      Re-elect Mr. Ronald Walker as a                               Mgmt          For            *
        Director of the Company
6.      Approve the institutional placement,                          Mgmt          For            *
        for the purposes of ASX Listing Rules
        7.1 and 7.4, being the issue of
        110,246,393 ordinary shares in the
        Company on or around 23 APR 2003 at
        an issue price of AUD 2.77 a share

<PAGE>

7.      Approve the terms of dividend                                 Mgmt          For            *
        reinvestment Plan, for the purposes
        of ASX Listing Rules 7.2

-------------------------------------------------------------------------------------------------------
LEIGHTON HOLDINGS LTD                                                         Agenda: 700422443
     CUSIP: Q55190104                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 11/6/2003           ISIN: AU000000LEI5
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and consider the financial                            Mgmt          For            *
        report and reports of the Directors
        and Auditor for the YE 30 JUN 2003
2.1     Re-elect Mr. A. Drescher as a                                 Mgmt          For            *
        Director who retires by rotation in
        accordance with Clause 18 of the
        Company s Constitution
2.2     Re-elect Mr. R. Johnson as a Director                         Mgmt          For            *
        who retires by rotation in
        accordance with Clause 18 of the
        Company s Constitution
2.3     Re-elect Mr. D.A. Mortimer as a                               Mgmt          For            *
        Director who retires by rotation in
        accordance with Clause 18 of the
        Company s Constitution

-------------------------------------------------------------------------------------------------------
MACQUARIE AIRPORTS                                                            Agenda: 700497755
     CUSIP: Q6077P119                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/4/2004            ISIN: AU000000MAP6
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        VOTING EXCLUSION; IMPORTANT! - IF YOU                         Non-
        HAVE PARTICIPATED IN THE DRP (18 FEB                         Voting
        2004) OR THE INSTITUTIONAL PLACEMENTS
        (21 JUL 2003 OR 17 NOV 2003) YOU ARE
        EXCLUDED FROM VOTING FOR MACQUARIE
        AIRPORTS HOLDINGS (BERMUDA) LIMITED
        RESOLUTION 7 AND MACQUARIE AIRPORTS
        TRUST (1)/MACQUARIE AIRPORTS TRUST
        (2) RESOLUTION 3. IF YOU FALL INTO
        THIS CATEGORY, PLEASE VOTE ABSTAIN
        FOR MACQUARIE AIRPORTS HOLDINGS
        (BERMUDA) LIMITED RESOLUTION 7 AND
        MACQUARIE AIRPORTS TRUST
        (1)/MACQUARIE AIRPORTS

<PAGE>

O.1     Approve for all purposes, including                           Mgmt          For            *
        ASX Listing Rule 7.1, ASX Listing
        Rule 10.11, the issue up to
        138,724,706 stapled securities in
        Macquarie Airports as consideration
        for the acquisition and authorize the
        Company to do all things which it
        considers necessary, desirable or
        incidental to give effect to the
        acquisition subject to: a) the
        Members of Macquarie Airports
        Trust(1) passing Resolution 1 in the
        MAT1 notice of meeting; and b) the
        Members of Macquarie Airports Trust
        (2) passing Resolution 1 in the MAT2
O.2     Approve the terms of Macquarie                                Mgmt          For            *
        Airports distribution and dividend
        reinvestment plan, which were
        previously sent to MAP security
O.3     Approve the accounts and the reports                          Mgmt          For            *
        of the Directors and Auditors of the
        Company for the YE 31 DEC 2003
O.4     Re-appoint PricewaterhouseCoopers as                          Mgmt          For            *
        the Auditors of the Company and
        authorize the Directors to determine
        their remuneration
O.5     Elect Mr. Mark Call as a Director                             Mgmt          For            *
O.6     Approve the terms of the Macquarie                            Mgmt          For            *
        Airports distributions and dividend
        reinvestment plan, which were
        previously sent to MAP security
O.7     Approve issues of shares in the                               Mgmt        Abstain          *
        Company that have occurred in the
        last 12 months
S.1     Approve for all purposes, including                           Mgmt          For            *
        ASX Listing Rule 7.1, ASX Listing
        Rule 10.11 and ASIC Class Order
        98/52, the issue up to 138,724,706
        stapled securities in Macquarie
        Airports as consideration for the
        acquisition and authorize the
        responsible entity to do all things
        which it considers necessary,
        desirable or incidental to give
        effect to the acquisition subject to:
        a) the Members of Macquarie Airports
        Trust(2) passing Resolution 1 in the
        MAT2 notice of meeting; and b) the
        Members of Macquarie Airports
        Holdings (Bermuda) Limited passing
        Resolution 1 in the MAHBL notice of
S.3     Approve issues of units in MAT1 that                          Mgmt        Abstain          *
        have occurred in the 12 months prior
        to the date of the meeting

<PAGE>

-------------------------------------------------------------------------------------------------------
NATIONAL AUSTRALIA BANK LTD                                                   Agenda: 700434943
     CUSIP: Q65336119                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 12/19/2003          ISIN: AU000000NAB4
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Acknowledge the Chairman s address                            Mgmt          For            *
        and presentation by the Managing
        Director and the Chief Executive
2.      Receive and approve the financial                             Mgmt          For            *
        report and the report of the
        Directors for the YE 30 SEP 2003,
        together with the Independent Audit
        report to the Members of the National
3.1     Re-elect Mr. P.J.B. Duncan as a                               Mgmt          For            *
        Director, who retires in accordance
        with Article 10.3 of the National s
        Constitution
3.2     Re-elect Dr. E.D. Tweddell as a                               Mgmt          For            *
        Director, who retires in accordance
        with Article 10.3 of the National s
        Constitution
3.3     Re-elect Mrs. C.M. Walter as a                                Mgmt          For            *
        Director, who retires in accordance
        with Article 10.3 of the National s
        Constitution
3.4     Appoint Mr. J.M. Stewart as a                                 Mgmt          For            *
        Director in accordance with Article
        10.13 of the National s Constitution
3.5     Appoint Mr. J.G. Thorn as a Director                          Mgmt          For            *
        in accordance with Article 10.13 of
        the National s Constitution
4.      Approve to grant of options,                                  Mgmt          For            *
        performance rights and shares to the
        Managing Director of National
        Australian Group Europe Limited, Mr.
        J.M. Stewart
5.      Approve to grant of options,                                  Mgmt          For            *
        performance rights and shares to the
        Managing Driector and Chief Executive
        Officer, Mr. F.J. Cicutto
6.      Approve: a) the amendment to the                              Mgmt          For            *
        retirement benefits schemes for the
        Non-Executive Directors of the
        National and its controlled entities;
        and b) the acquisition of an interest
        in securities of the National by or
        on or on behalf of such Non-Executive
        Directors as determined by the
        National, who would otherwise have
        become entitled to a payment when
        they ceased to be a Director under
        the relevant

<PAGE>

7.      Approve to increase maximum                                   Mgmt          For            *
        remuneration by AUD 1,300,000 per
        annum to a maximum of AUD 500,000 per
        annum, provided by the National to
        the Non-Executive Directors of the
        National for their services both to
        the National and to entities with
        which the National is associated
8.      Approve the acquisition of an                                 Mgmt          For            *
        interest in securities of the
        National by or on behalf of the Non-
        Executive Directors under the NED
        Non-Executive Director Share Plan
S.9     Approve the terms of the buy-back                             Mgmt          For            *
        agreements under the selective buy-
        back Scheme relating to the 0%
        preference shares may in certain
        circumstances convert

-------------------------------------------------------------------------------------------------------
PACIFICA GROUP LIMITED                                                        Agenda: 700488681
     CUSIP: Q7207R108                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/7/2004            ISIN: AU000000PBB7
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and consider the financial                            Non-
        report of the Company for the YE 31                          Voting
        DEC 2003 and the reports of the
        Directors and the Auditors
2.a     Re-elect Mr. Doug Curlewis as a                               Mgmt          For            *
        Director
2.b     Re-elect Mr. Peter Hay as a Director                          Mgmt          For            *
3.      Approve to increase the maximum                               Mgmt          For            *
        aggregate remuneration which may be
        provided in each year by the Company
        to its Non-Executive Directors for
        their services as Directors from AUD
        600,000 to AUD 800,000
4.      Approve to grant performance rights                           Mgmt          For            *
        over not more than 250,000 unissued
        ordinary shares, pursuant to the
        Pacific Group Limited Executive
        Option and Performance Right Plan, to
        Mr. John Robert MacKenzie, the
        Managing Director
5.      Approve to grant performance rights                           Mgmt          For            *
        over not more than 100,000 unissued
        ordinary shares, pursuant to the
        Pacific Group Limited Executive
        Option and Performance Right Plan, to
        Mr. Anthony John Clarke, the Finance
        Director

<PAGE>

S.6     Approve to alter the Constitution of                          Mgmt          For            *
        the Company effective immediately
        from the passing of this resolution

-------------------------------------------------------------------------------------------------------
PAPERLINX LTD                                                                 Agenda: 700415296
     CUSIP: Q73258107                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 10/23/2003          ISIN: AU000000PPX1
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and approve the financial                             Non-
        statements and the Directors                                 Voting
        declaration and the report for the YE
        30 JUN 2003, together with the
        Auditor s report to the Members of
2.a     Re-elect Mr. D.G. Abotomey as a                               Mgmt          For            *
        Director, who retires in accordance
        with Rule 63.1 of the Company s
        Constitution
2.b     Re-elect Mr. A.F. Guy as a Director,                          Mgmt          For            *
        who retires in accordance with Rule
        63.1 of the Company s Constitution
2.c     Re-elect Mr. P.R. Waterworth as a                             Mgmt          For            *
        Director, who retires in accordance
        with Rule 63.1 of the Company s
        Constitution
3.      Approve, for the purpose of Listing                           Mgmt          For            *
        Rules 7.1 and 7.4. to issue of
        securities which has been made by the
        Company pursuant to the
        Institutional Placement
S.4a    Amend the Constitution of the Company                         Mgmt          For            *
        by deleting some words from Rule
        63.1 and by substitute with new words
        in their place
S.4b    Amend the Constitution of the Company                         Mgmt        Against          *
        by reinstating Rule 97
S.4c    Amend the Constitution of the Company                         Mgmt          For            *
        by adding a new Rule 99

-------------------------------------------------------------------------------------------------------
QANTAS AIRWAYS LTD                                                            Agenda: 700413470
     CUSIP: Q77974105                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 10/16/2003          ISIN: AU000000QAN2
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and consider the financial                            Mgmt          For            *
        report, the Directors report and the
        Independent Auditors report of
        Qantas Airways Limited for the FYE 30
2.      Questions and Comments on the                                 Mgmt          For            *
        management and audit of Qantas

<PAGE>

3.1     Re-elect Mr. Trevor Eastwood as the                           Mgmt          For            *
        Non-Executive Director of Qantas
        Airways Limited, who retires in
        accordance with the Constitution
3.2     Re-elect Mr. Jim Kennedy as the Non-                          Mgmt          For            *
        Executive Director of Qantas Airways
        Limited, who retires in accordance
        with the Constitution
3.3     Re-elect Mr. Peter Gregg as the                               Mgmt          For            *
        Executive Director of Qantas Airways
        Limited, who retires in accordance
        with the Constitution
4.1     Authorize Mr. Geoff Dixon, the Chief                          Mgmt          For            *
        Executive Officer, pursuant to
        Listing Rule 10.14 and under the
        terms and conditions of the Qantas
        Deferred Share Plan, to participate
        in the Qantas Deferred Share Plan
4.2     Authorize Mr. Peter Gregg, the Chief                          Mgmt          For            *
        Financial Officer, pursuant to
        Listing Rule 10.14 and under the
        terms and conditions of the Qantas
        Deferred Share Plan, to participate
        in the Qantas Deferred Share Plan
5.      Amend the Constitution of Qantas                              Mgmt          For            *
        Airways Limited

-------------------------------------------------------------------------------------------------------
SKY CITY ENTERTAINMENT GROUP LTD                                              Agenda: 700415549
     CUSIP: Q8513Z115                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 10/30/2003          ISIN: NZSKCE0001S2
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE THAT THIS IS A REVISION                           Non-
        DUE TO THE CHANGE IN THE AGENDA. IF                          Voting
        YOU HAVE ALREADY SENT IN YOUR VOTES,
        PLEASE DO NOT RETURN THIS PROXY FORM
        UNLESS YOU DECIDE TO AMEND YOUR
        ORIGINAL INSTRUCTIONS. THANK YOU. U.
1.      Re-elect Mr. Bill R. Trotter as a                             Mgmt          For            *
        Director
2.      Elect Mr./Ms. Patsy L. Reddy as a                             Mgmt          For            *
        Director
3.      Authorize an increase in the Director s                       Mgmt          For            *
        fees, from NZD 450,000 plus GST
        (if any) for each financial year, to
        NZD 600,000 plus GST (if any) for
        each financial year, being an
        increase of NZD 150,000 plus GST (if
4.      Authorize the Directors to fix the                            Mgmt          For            *
        fees and expenses of the Auditor of
        the Company

<PAGE>

-------------------------------------------------------------------------------------------------------
SONIC HEALTHCARE LIMITED                                                      Agenda: 700426910
     CUSIP: Q8563C107                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 11/27/2003          ISIN: AU000000SHL7
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Re-elect Mr. Barry Patterson as                               Mgmt          For            *
        Director of the Company, who retires
        in accordance with Article 71 of the
        Company s Constitution
2.      Re-elect Mr. Colin Jackson as                                 Mgmt          For            *
        Director of the Company, who retires
        in accordance with Article 71 of the
        Company s Constitution
3.      Re-elect Dr Michael Robinson as                               Mgmt          For            *
        Director of the Company, who retires
        in accordance with Article 71 of the
        Company s Constitution
4.      Approve, for the purposes of Listing                          Mgmt          For            *
        7.2 of Australian Stock Exchange
        Limited and for all other purposes,
        the issue of options to acquire
        ordinary shares under and in
        accordance with the terms of the
        Sonic Healthcare Limited Employee
5.      Approve to amend the expiry date for                          Mgmt          For            *
        the options originally issued to Dr.
        Colin Goldschmidt (Managing Director)
        to acquire 3 million ordinary shares
        in the capital of the Company at AUD
        5.32 each, as approved by
        shareholders of the Company on 15 NOV
        1999, from 20 April 2005 to 20
6.      Approve to amend the expiry date for                          Mgmt          For            *
        the options originally issued to Mr.
        Christopher Wilks (Finance Director)
        to acquire 1.5 million ordinary
        shares in the capital of the Company
        at AUD 5.32 each, as approved by
        shareholders of the Company on 15 NOV
        1999, from 20 April 2005 to 20
S.7     Amend the Constitution of the Company                         Mgmt          For            *
        by reinstating Articles 113, 114 and
        115

-------------------------------------------------------------------------------------------------------
SUNCORP METWAY LIMITED                                                        Agenda: 700417620
     CUSIP: Q8802S103                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 10/29/2003          ISIN: AU000000SUN6
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

1.      Receive and consider the financial                            Mgmt          For            *
        statements and the reports of the
        Directors and the Auditors for the YE
        30 JUN 2003
2.1     Re-elect Dr. I. D. Blackburne as a                            Mgmt          For            *
        Director of the Company, who retires
        by rotation
2.2     Elect Mr. J. J. Kennedy as a Director                         Mgmt          For            *
        of the Company, who retires by
2.3     Elect Mr. W. J. Bartlett as a                                 Mgmt          For            *
        Director of the Company, who retires
2.4     Re-elect Mr. C. Skilton, who retires                          Mgmt          For            *
        by rotation
3.      Approve the terms of the Suncorp                              Mgmt          For            *
        Metway dividend reinvestment plan
        under listing rule 7.2 and 10.2

-------------------------------------------------------------------------------------------------------
TELECOM CORPORATION OF NEW ZEALAND LTD                                        Agenda: 700409320
     CUSIP: Q89499109                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 10/9/2003           ISIN: NZTELE0001S4
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Authorize the Directors to fix the                            Mgmt          For            *
        Auditors remuneration
2.      Re-elect Dr. Roderick Deane as a                              Mgmt          For            *
        Director of the Company
3.      Re-elect Mr. Paul Baines as a                                 Mgmt          For            *
        Director of the Company
4.      Grant authority to pay the                                    Mgmt          For            *
        remuneration of not more in aggregate
        than NZD 1,50,000 per annum to the
        Directors of the Company for their
        services as Directors of the Company
        and its subsidiaries
5.      Elect Mr. Lindsay Pyne as a Director                          Mgmt          For            *
        of the Company
6.      Authorize the Company s Board of                              Mgmt          For            *
        Directors to issue to Ms. Theresa
        Gattung during the period to 30 SEP
        2006 of up to 500,000 ordinary shares
        in the Company, under the Performance
        Incentive Scheme
7.      Authorize the Company s Board of                              Mgmt          For            *
        Directors to issue to Ms. Theresa
        Gattung during the period to 30 SEP
        2006 of up to 1,500,000 options to
        acquire ordinary shares in the
        Company, under the Performance Option
        Scheme

<PAGE>

-------------------------------------------------------------------------------------------------------
WESTFIELD TRUST                                                               Agenda: 700531797
     CUSIP: Q97144101                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 6/25/2004           ISIN: AU000000WFT6
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Amend, subject to the effective from                          Mgmt       No Action         *
        the date on which an order of the
        Supreme Court of New South Wales
        Court approving the Scheme of
        Arrangement between Westfield
        Holdings Limited and its shareholders
        to be considered, the constitution
        of the Westfield Trust in accordance
        with the provisions of the
        Supplemental Deed Poll as prescribed
2.      Approve, subject to the Supplemental                          Mgmt       No Action         *
        Deed Poll having been lodged with the
        Australian Securities and Investment
        Commission, that the units in
        Westfield Trust, shares in Westfield
        Holdings Limited and units in the
        Westfield America Trust become
        stapled securities involving a
        distribution being made by the
        Westfield Trust so that its
        unitholders can acquire Westfield
        Holdings Limited shares and Westfield
        America Trust units as prescribed

-------------------------------------------------------------------------------------------------------
WESTFIELD TRUST                                                               Agenda: 700531785
     CUSIP: Q97144465                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 6/25/2004           ISIN: AU0000WFTNA7
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Amend, subject to the effective from                          Mgmt       No Action         *
        the date on which an order of the
        Supreme Court of New South Wales
        Court approving the Scheme of
        Arrangement between Westfield
        Holdings Limited and its shareholders
        to be considered, the constitution
        of the Westfield Trust in accordance
        with the provisions of the
        Supplemental Deed Poll as prescribed

<PAGE>

2.      Approve, subject to the Supplemental                          Mgmt       No Action         *
        Deed Poll having been lodged with the
        Australian Securities and Investment
        Commission, that the units in
        Westfield Trust, shares in Westfield
        Holdings Limited and units in the
        Westfield America Trust become
        stapled securities involving a
        distribution being made by the
        Westfield Trust so that its
        unitholders can acquire Westfield
        Holdings Limited shares and Westfield
        America Trust units as prescribed

-------------------------------------------------------------------------------------------------------
WESTPAC BANKING CORP                                                          Agenda: 700431226
     CUSIP: Q97417101                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 12/11/2003          ISIN: AU000000WBC1
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and consider the annual                               Non-
        financial report, Directors report                           Voting
        and Auditors report of Westpac for
        the YE 30 SEP 2003
2.a     Re-elect Ms. Helen Ann Lynch who                              Mgmt          For            *
        retires in accordance with Articles
        9.2 and 9.3 of the Constitution, as a
        Director of Westpac Banking
2.b     Elect Ms. Carolyn Judith Hewson,                              Mgmt          For            *
        being a Director appointed since last
        AGM and who offers herself for
        election pursuant to Article 9.7 of
        the Constitution, as a Director of
        Westpac Banking Corporation
2.c     Elect Mr. Peter David Wilson, being a                         Mgmt          For            *
        Director appointed since last AGM
        and who offers himself for election
        pursuant to Article 9.7 of the
        Constitution, as a Director of
        Westpac Banking Corporation

<PAGE>

3.      Approve (a) for all purposes under                            Mgmt          For            *
        the Listing Rules of the ASX Limited
        for: (i) the grant of performance
        options to Dr David Raymond Morgan,
        in three tranches of 713,000 options
        each, on 01 MAR 2004, 01 MAR 2005 and
        01 MAR 2006 and a fourth tranche of
        594,167 options on 01 DEC 2006, to
        subscribe for or acquire a total of
        2,733,167 fully paid ordinary shares
        in the capital of Westpac Banking
        Corporation. Performance options will
        be exercisable at the volume weighted
        average price per share of Westpac
        Banking Corporation shares on the ASX
        Limited over the five trading days
        before the date of grant of the
        relevant tranche, subject to and in
        accordance with the terms of the
        Chief Executive Securities Agreement
        2003; (ii) the grant of options
        (being performance share rights) to
        Dr Davis Raymond Morgan in three
        tranches of 218,000 performance share
        rights each on 01 MAR 2004, 01 MAR
        2005, 01 MAR 2006 and a fourth
        tranche of 181,667 performance share
        rights on 01 DEC 2006, to subscribe
        for or acquire a total of 835,667
        fully paid ordinary shares in the
        capital of Westpac Banking
        Corporation for no monetary payment,
        subject to and in accordance with the
        terms of the Agreement; and (iii) the
        allotment to Dr David Raymond Morgan
        of a maximum of 3,568,834 fully paid
        ordinary shares in the capital
        Westpac Banking Corporation upon the
        valid exercise of the options
        described in paragraphs (i) and (ii)
        subject to and in accordance with the
        terms of the Agreement, (b) for all
        purposes under the Corporation Act
        2001 to permit Westpac Banking
        Corporation to give effect to the
        Chief Executive Securities Agreement
        2003, pursuant to which Dr David
        Raymond Morgan will be granted
        options to subscribe for or acquire a
        maximum of 3,568,834 fully paid
        ordinary shares in the capital of
        Westpac Banking Corporation,
        exercisable subject to and in
        accordance with the terms of

<PAGE>

4.      Increase the yearly maximum sum                               Mgmt          For            *
        available to the Non-executive
        Directors of Westpac Banking
        Corporation as remuneration for their
        services form AUD 1.5 million to AUD
        2.5 million, form the year commencing
        01 JAN 2004, to be divided amongst
        them in a manner they may
5.      Consider and approve that (a) Westpac                         Mgmt          For            *
        Banking Corporation grant to each
        Director and former Director of
        Westpac who, at Westpac s request,
        holds office as a trustee of the
        Westpac Foundation, being an
        indemnity upon or substantially in
        accordance with terms in the form of
        the deed; (b) Westpac execute and
        deliver to each indemnified Director
        a deed in or substantially to the
        effect of the form of the deed; (c)
        approval be given to the due
        performance by Westpac of each deed
        so executed and delivered to such
        Indemnified Director; (d) Westpac
        give to each Indemnified Director all
        financial benefits involved in the
        execution and the performance by
        Westpac of a deed so executed and
        delivered to the Indemnified Director

-------------------------------------------------------------------------------------------------------
DNB NOR ASA                                                                   Agenda: 700486360
     CUSIP: R1812S105                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/29/2004           ISIN: NO0010031479
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        IMPORTANT MARKET PROCESSING                                   Non-
        REQUIREMENT: A BENEFICIAL OWNER                              Voting
        SIGNED POWER OF ATTORNEY (POA) IS
        REQUIRED IN ORDER TO LODGE AND
        EXECUTE YOUR VOTING INSTRUCTIONS IN
        THIS MARKET. ABSENCE OF A POA, MAY
        CAUSE YOUR INSTRUCTIONS TO BE
        REJECTED. SHOULD YOU HAVE ANY
        QUESTIONS, PLEASE CONTACT YOUR CLIENT
        SERVICE REPRESENTATIVE AT ADP. THANK
1.      Amend the Articles of Association                             Mgmt          For            *
2.      Elect 10 Members to the Supervisory                           Mgmt          For            *
        Board
3.      Elect 1 Deputy to Control Committee                           Mgmt          For            *
4.      Elect 4 Members to the Election                               Mgmt          For            *
        Committee
5.      Approve the 2003 annual report and                            Mgmt          For            *
        accounts including the distribution
        of dividends

<PAGE>

6.      Approve the Statutory Auditors                                Mgmt          For            *
        remuneration
7.      Approve the remuneration                                      Mgmt          For            *
8.      Approve the renewal of Power of                               Mgmt          For            *
        Attorney to re-purchase own shares
9.      PLEASE NOTE THAT THIS IS A                                     Shr        Abstain          *
        SHAREHOLDER PROPOSAL: Approve the
        matters presented by a shareholder

-------------------------------------------------------------------------------------------------------
EKORNES ASA                                                                   Agenda: 700498973
     CUSIP: R20126109                         Meeting Type: OGM
    Ticker:                                   Meeting Date: 5/6/2004            ISIN: NO0003035305
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        IMPORTANT MARKET PROCESSING                                   Non-
        REQUIREMENT: A BENEFICIAL OWNER                              Voting
        SIGNED POWER OF ATTORNEY (POA) IS
        REQUIRED IN ORDER TO LODGE AND
        EXECUTE YOUR VOTING INSTRUCTIONS IN
        THIS MARKET. ABSENCE OF A POA, MAY
        CAUSE YOUR INSTRUCTIONS TO BE
        REJECTED. SHOULD YOU HAVE ANY
        QUESTIONS, PLEASE CONTACT YOUR CLIENT
        SERVICE REPRESENTATIVE AT ADP. THANK
1.      Approve the registration of attending                         Mgmt          For            *
        shareholders, the notice of meeting
        and agenda
2.      Elect the Chairman of the meeting                             Mgmt          For            *
3.a     Approve the Company s financial                               Mgmt          For            *
        statement and the Groups s result and
        balance sheet
3.b     Approve the appropriations of profit                          Mgmt          For            *
        including the dividend
4.      Approve the remuneration to the Board                         Mgmt          For            *
        Members, Auditor and Nominating
        Committee
5.      Elect the Board of Directors                                  Mgmt          For            *
6.      Approve the guidelines for the                                Mgmt          For            *
        Nominating Committee
7.      Grant authority to purchase up to 1%                          Mgmt          For            *
        own shares related to the Share
        Option Plan for employees for 2004

-------------------------------------------------------------------------------------------------------
NORSKE SKOGINDUSTRIER ASA                                                     Agenda: 700472638
     CUSIP: R80036115                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/15/2004           ISIN: NO0004135633
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

        IMPORTANT MARKET PROCESSING                                   Non-
        REQUIREMENT A BENEFICIAL OWNER SIGNED                        Voting
        POWER OF ATTORNEY (POA) IS REQUIRED
        IN ORDER TO LODGE AND EXECUTE YOUR
        VOTING INSTRUCTIONS IN THIS MARKET.
        ABSENCE OF A POA, MAY CAUSE YOUR
        INSTRUCTIONS TO BE REJECTED. SHOULD
        YOU HAVE ANY QUESTIONS, PLEASE
        CONTACT YOUR CLIENT SERVICE
        REPRESENTATIVE AT ADP. THANK YOU
1.      Approve to adopt the annual report                            Mgmt          For            *
        and the accounts for 2003 of Norske
        Skogindustrier ASA and the Group
2.      Approve to allocate the annual profit                         Mgmt          For            *
        for 2003, including distribution of
        dividend for Norske Skogindustrier
3.      Approve to determine the remuneration                         Mgmt          For            *
        of the Members of the Corporate
        Assembly
4.      Approve the Auditors fee                                      Mgmt          For            *
5.      Elect a new Auditor                                           Mgmt          For            *
6.      Elect the Members and the Deputy                              Mgmt          For            *
        Members of the Corporate Assembly
7.      Elect 3 Members to the Election                               Mgmt          For            *
        Committee
8.      Authorize the Board of Directors to                           Mgmt          For            *
        purchase the Company s own shares

-------------------------------------------------------------------------------------------------------
ENI SPA, ROMA                                                                 Agenda: 700493543
     CUSIP: T3643A145                         Meeting Type: MIX
    Ticker:                                   Meeting Date: 5/25/2004           ISIN: IT0003132476
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE IN THE EVENT THE MEETING                          Non-
        DOES NOT REACH QUORUM, THERE WILL BE                         Voting
        A SECOND CALL ON 26 MAY 2004 AND A
        THIRD CALL ON 28 MAY 2004.
        CONSEQUENTLY, YOUR VOTING
        INSTRUCTIONS WILL REMAIN VALID FOR
        ALL CALLS UNLESS THE AGENDA IS
        AMENDED. PLEASE BE ALSO ADVISED THAT
        YOUR SHARES WILL BE BLOCKED UNTIL THE
        QUORUM IS MET OR THE MEETING IS CANCELLED
E.1     Amend the Articles 2.1, 11.2, 12.2,                           Mgmt          For            *
        13, 16.1, 17.2, 17.3, 19.3 and 23 of
        Eni by-laws pursuant to the
        Legislative Decree No. 6 dated 17 JAN
        2003
E.2     Amend Articles 17.3, 19.1 and 28.1 of                         Mgmt          For            *
        Eni by-laws

<PAGE>

O.1     Receive the financial statement and                           Mgmt          For            *
        the consolidated financial statement
        at 31 DEC 2003 and also the Board of
        Directors and the Auditors report
O.2     Approve the allocation of net income                          Mgmt          For            *
O.3     Grant authority to purchase Eni                               Mgmt          For            *
O.4     Appoint the Independent Auditors for                          Mgmt          For            *
        the three-year period 2004-2006
O.5     Amendment to Article 2.1 of Eni                               Mgmt          For            *
        S.p.A. s Shareholders Meeting
O.6     Approve the emoluments of the                                 Mgmt          For            *

-------------------------------------------------------------------------------------------------------
HOLMEN AB                                                                     Agenda: 700459971
     CUSIP: W24045127                         Meeting Type: OGM
    Ticker:                                   Meeting Date: 3/30/2004           ISIN: SE0000109290
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        Opening of the meeting                                        Non-       No Action         *
                                                                     Voting
A.      Approve to adopt the income statement                         Mgmt       No Action         *
        and the balance sheet, and of the
        consolidated income statement and the
        consolidated balance sheet
B.      Approve the treatment of the Company s                        Mgmt       No Action         *
        unappropriated as stated in the
        adopted balance sheet
C.      Grant discharge to the Board of                               Mgmt       No Action         *
        Directors and the President from
        personal liability
D.      Approve the number of Directors and                           Mgmt       No Action         *
        the Deputy Members
E.      Approve the remuneration to be paid                           Mgmt       No Action         *
        to the Directors and the Auditors
F.      Elect the Members of the Board                                Mgmt       No Action         *
G.      Elect the Auditors                                            Mgmt       No Action         *
H.      Grant authority to buy-back and                               Mgmt       No Action         *
        transfer the Company s own shares
I.      PLEASE NOTE THAT THIS IS A                                     Shr       No Action         *
        SHAREHOLDER PROPOSAL: Approve to
        establish a Nomination Committee
J.      PLEASE NOTE THAT THIS IS A                                     Shr       No Action         *
        SHAREHOLDER PROPOSAL: Approve to
        establish an Audit Committee

<PAGE>

-------------------------------------------------------------------------------------------------------
SECO TOOLS AB                                                                 Agenda: 700480495
     CUSIP: W7903Y111                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/5/2004            ISIN: SE0000118838
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        IMPORTANT MARKET PROCESSING                                   Non-
        REQUIREMENT: A BENEFICIAL OWNER                              Voting
        SIGNED POWER OF ATTORNEY (POA) IS
        REQUIRED IN ORDER TO LODGE AND
        EXECUTE YOUR VOTING INSTRUCTIONS IN
        THIS MARKET. ABSENCE OF A POA, MAY
        CAUSE YOUR INSTRUCTIONS TO BE
        REJECTED. SHOULD YOU HAVE ANY
        QUESTIONS, PLEASE CONTACT YOUR CLIENT
        SERVICE REPRESENTATIVE AT ADP. THANK
A.      Approve the adoption of the income                            Mgmt          For            *
        statement and the balance sheet and
        the consolidated income statement and
        the consolidated balance sheet
B.      Grant discharge to the Members of the                         Mgmt          For            *
        Board of Directors and of the
        President from liability for the FY
C.      Approve the dividend of SEK 14.00 per                         Mgmt          For            *
        share for fiscal 2003 and the record
        date as 10 MAY 2004 for receipt of
        the dividend
D.      Approve the number of Board Members                           Mgmt          For            *
        as 8 and no deputies
E.      Approve the number of Auditors as 2                           Mgmt          For            *
        and no deputies
F.      Approve the remuneration of Board as                          Mgmt          For            *
        SEK 1,200,000 of which SEK 300,000
        will be paid to the Chairman of the
        Board and the remainder distributed
        between the Board Members in
        accordance with the Board s own
        assessment and that remuneration to
        the Auditors be paid in accordance
        with current invoicing
G.1     Re-elect Mr. Gunnar Bjorklund as a                            Mgmt          For            *
        Board Member
G.2     Re-elect Mr. Magnus Brandeskar as a                           Mgmt          For            *
        Board Member
G.3     Re-elect Mr. Stefan Emeholm as a                              Mgmt          For            *
        Board Member
G.4     Re-elect Mr. Jan-Erik Forsgren as a                           Mgmt          For            *
        Board Member
G.5     Re-elect Mr. Hans Harvlg as a Board                           Mgmt          For            *
        Member
G.6     Re-elect Mr. Anders Listam as a Board                         Mgmt          For            *
        Member

<PAGE>

G.7     Re-elect Mr. Lars Renstrom as a Board                         Mgmt          For            *
        Member
G.8     Elect Ms. Carina Malmgren Heander as                          Mgmt          For            *
        a Board Member
H.      Elect Ohrlings PricewaterhouseCoopers                         Mgmt          For            *
        and KPMG Bohlin, Public Accounting
        Firms as the Auditors
I.      Approve that the Board Chairman and a                         Mgmt          For            *
        representative of each of the four
        largest shareholders, who must not be
        Members of the Board of the Company,
        shall jointly constitute the
        Nominating Committee for the period
        up to the end of the next AGM
J.      PLEASE NOTE THAT THIS RESOLUTION IS A                          Shr          For            *
        SHAREHOLDER PROPOSAL: Approve to
        elect the Nominating Committee
        consisting of three to five persons
        who are independent Seco Tools AB and
        who will represent the Company s
        owners at the AGM and that small
        shareholders be included in the

-------------------------------------------------------------------------------------------------------
SVENSKA HANDELSBANKEN AB                                                      Agenda: 700483186
     CUSIP: W90937181                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/27/2004           ISIN: SE0000193120
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        Approve the election of Mr. Bjorn                             Non-
        Franzon as the Chairman                                      Voting
A.      Approve the profit and loss account,                          Mgmt          For            *
        the balance sheet, the consolidated
        profit and loss account and
        consolidated balance sheet
B.      Grant liability for the Members of                            Mgmt          For            *
        the Board and the President for the
        period referred to in the financial
C.      Approve to allocate the Bank s profit                         Mgmt          For            *
        in accordance with the adopted
        balance sheet and also concerning the
        record day

<PAGE>

D.      Authorize the Board to resolve on                             Mgmt          For            *
        acquisition of a maximum of 40
        million ordinary Class A and/or B
        shares and divestment of all the
        Bank s own ordinary Class A and/or B
        shares with the right to deviate from
        the shareholders preferential rights
        and to decide on acquisition of its
        own shares is motivated in order to
        increase the earnings per share over
        time; approve to acquire a Company or
        operations, such truncation would be
        facilitated if its own shares were
        available to
E.      Approve the acquisition of its own                            Mgmt          For            *
        ordinary Class A and/or B shares for
        the Bank s trading book, pursuant to
        Chapter 4 Section 5 of the Securities
        Operations Act (1991:981), on the
        condition that own shares in the
        trading book shall not at any time
        exceed 2% of all shares of the Bank,
        the aggregated holding of own shares
        must not at any time exceed 10% of
        the total number of shares of the
F.      Approve the reduction in the share                            Mgmt          For            *
        capital
G.      Approve the bonus issue                                       Mgmt          For            *
H.      Approve to increase, by means of                              Mgmt          For            *
        bonus issue, the Bank s share capital
        by 104,008,112.25 Swedish Kronor by
        means of transfer of 104,008,112.25
        Swedish Kronor from the distributable
        profits, where the nominal amount of
        the share will increase from SEK 4 to
        SEK 4.15 and amend the Section 5 of
        the Articles of Association
I.      Elect 13 Board Members and no Deputy                          Mgmt          For            *
        Members, which is an increase of one
        Member
J.      Elect 2 Auditors and no Deputy                                Mgmt          For            *
K.      Approve the fees for the Board                                Mgmt          For            *
        Members of SEK 5,600,000, to be
        divided among the Members elected by
        the meeting who are not employees of
        the Bank and to increase the Board by
        one Member and by the establishment
        of an auditing Committee;
        remuneration to the
L.1     Re-elect Mr. Pirkko Alitalo as the                            Mgmt          For            *
        Board Member
L.10    Re-elect Mr. Arne Martensson as the                           Mgmt          For            *
        Board Member
L.11    Re-elect Mr. Anders Nyren as the                              Mgmt          For            *

<PAGE>

        Board Member
L.12    Elect Mr. Bante Rathe as the Board                            Mgmt          For            *
        Member
L.13    Elect Mr. Trondheim, Norway, as the                           Mgmt          For            *
        Board Member
L.14    Elect Mr. Ulrika Boethius, Stockholm,                         Mgmt          For            *
        as the Board Member
L.15    Approve the declination of Mr. Lotty                          Mgmt          For            *
        Bergstrom for re-election
L.2     Re-elect Mr. Tommy Bylund as the                              Mgmt          For            *
        Board Member
L.3     Re-elect Mr. Fredrik Baksaas as the                           Mgmt          For            *
        Board Member
L.4     Re-elect Mr. Goran Ennerfelt as the                           Mgmt          For            *
        Board Member
L.5     Re-elect Mr. Lars O Gronstedt as the                          Mgmt          For            *
        Board Member
L.6     Re-elect Mr. Sigrun Hjelmquist as                             Mgmt          For            *
        the Board Member
L.7     Re-elect Mr. Hans Larsson as the                              Mgmt          For            *
        Board Member
L.8     Re-elect Mr. Fredrik Lundberg as the                          Mgmt          For            *
        Board Member
L.9     Re-elect Mr. Sverker Martin-Lof as                            Mgmt          For            *
        the Board Member
M.      Re-elect the registered public                                Mgmt          For            *
        accounting firms KPMG Bohlins AB and
        Ernst & Young AB for the period until
        the end of the AGM in 2008
N.      Authorize the Chairman of the Board                           Mgmt          For            *
        to appoint 4 representatives for the
        major shareholder of the Bank, who,
        with the Chairman, form a Committee
        to prepare the next elect of the
        Board Members, Board Members are not
        eligible to serve on the Committee
        and appoint the Chairman among its
        Members; the composition of the
        Committee before the Board election
        in 2005 be announced no later than 6
        months prior to the AGM in 2005; no
        fees are payable to the Committee
O.      PLEASE NOTE THAT THIS IS A                                     Shr        Against          *
        SHAREHOLDER PROPOSAL: Appoint an
        Election Committee and this should
        comprise 3 to 5 persons who represent
        the owners of the Company and who
        are independent of the Company, a
        representative for the small
        shareholders should be a Member of

<PAGE>

P.      PLEASE NOTE THAT THIS IS A                                     Shr        Against          *
        SHAREHOLDER PROPOSAL: Approve that
        the Company follow Swedish Laws SFS
        1999:268 EC directive 97/5/EC and SFS
        2002:598 EC directive 2560/2001

-------------------------------------------------------------------------------------------------------
BRISA AUTO ESTRADAS DE PORTUGAL SA, SAO                                       Agenda: 700466899
DOMINGOS DE RANA
     CUSIP: X07448107                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 3/25/2004           ISIN: PTBRI0AM0000
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE THAT THIS IS AN AMENDMENT                         Non-
        TO MEETING # 126591 DUE TO THE                               Voting
        ADDITION OF A RESOLUTION. ALL VOTES
        RECEIVED ON THE PREVIOUS MEETING WILL
        BE DISREGARDED AND YOU WILL NEED TO
        REINSTRUCT ON THIS MEETING NOTICE.
        THANK YOU.
1.      Approve the 2003 annual report and                            Mgmt          For            *
        results
2.      Approve the 2003 consolidated report                          Mgmt          For            *
        and also the 2003 consolidated
3.      Approve the profit appropriation                              Mgmt          For            *
4.      Approve the general appreciation of                           Mgmt          For            *
        the Company s Management and auditing
5.      Approve the report of the incentive                           Mgmt          For            *
        plan to the management
6.      Approve the acquisition and sale of                           Mgmt          For            *
        own shares
7.      Elect the salary commission                                   Mgmt        Abstain          *

-------------------------------------------------------------------------------------------------------
STORA ENSO OYJ, HELSINKI                                                      Agenda: 700455973
     CUSIP: X21349117                         Meeting Type: OGM
    Ticker:                                   Meeting Date: 3/18/2004           ISIN: FI0009005961
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE THAT THIS IS AN AGM.                              Non-
        THANK YOU.                                                   Voting
1.      Approve, pursuant to Article 14 of                            Mgmt        Against          *
        the Articles of Association of the
        Company, the matters to be resolved
        and to pay a dividend of EUR 0.45 per
        share
2.      Approve to reduce the share capital                           Mgmt          For            *
        of the Company through the
        cancellation of the shares held by
3.      Authorize the Board of Directors to                           Mgmt          For            *
        repurchase shares in the Company

<PAGE>

4.      Authorize the Board of Directors to                           Mgmt          For            *
        dispose of shares held by the Company

-------------------------------------------------------------------------------------------------------
HELLENIC TELECOMMUNICATIONS ORGANIZATIONS OTE                                 Agenda: 700529627
     CUSIP: X3258B102                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 6/17/2004           ISIN: GRS260333000
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Appoint new Board Members following                           Mgmt          For            *
        the resignation of Board Members,
        pursuant to Article 10, Paragraph 4
        of the Articles of Association
10.     Approve the remuneration paid to the                          Mgmt          For            *
        Members of the Board of Directors for
        2003 and to determine their
        remuneration for 2004
11.     Approve the remuneration paid to the                          Mgmt          For            *
        Chairman of the Board and Managing
        Director as well as to the Executive
        Vice Chairman for 2003 and to
        determine their remuneration for 2004
12.     Approve the termination of the                                Mgmt          For            *
        employment agreements concluded on
        the 20 JUN 2002 between OTE and the
        former Chairman of the Board Managing
        Director and the former Executive
        Vice Chairman
13.     Approve to determine the number of                            Mgmt          For            *
        Members of the Board of Directors to
        be elected, the election of new Board
        Members and designation of the
        Independent Board Members
14.     Miscellaneous announcements                                   Other         For            *
2.      Approve the cancellation of                                   Mgmt          For            *
        12,794,900 own shares following
        termination of the 3-year period from
        their acquisition with subsequent
        reduction of the share capital of the
        Company by amount equal to the price
        of the shares cancelled, pursuant to
        Article16, Paragraph 12 of Codified
        Law 2190/1920 and transfer of equal
        share acquisition funds to the
        extraordinary reserves
3.      Amend the Articles of Association                             Mgmt          For            *
        numbers 5,8,9,10,11,13 and 32,
        replacement of Article 14 by new
        Article and codification of the
        Articles of Association

<PAGE>

4.      Receive the Management report, the                            Mgmt          For            *
        financing and procurement reports and
        the audit reports compiled by
        Certified Auditors and an Auditor of
        international repute, on the annual
        financial statements for the FY 2003,
        including consolidated financial
        statements of the OTE Group, compiled
        in accordance with IAS
5.      Approve the financial statements and                          Mgmt          For            *
        relevant reports for the FY 2003
6.      Approve the distribution of profits                           Mgmt          For            *
7.      Approve the exemption of the Members                          Mgmt          For            *
        of the Board of Directors and the
        Auditors of any liability for FY
        2003, pursuant to Article 35 of
        Codified Law 2190/1920
8.      Appoint Certified Auditors and an                             Mgmt          For            *
        Auditor of international repute for
        the FY 2004 and approve to determine
        their respective fees
9.      Approve the main terms of agreements                          Mgmt          For            *
        with persons described in Articles
        23a and 24 of Codified Law 2190/1920
        and to grant a proxy for the
        conclusion of the particular

-------------------------------------------------------------------------------------------------------
HELLENIC TELECOMMUNICATIONS ORGANIZATIONS OTE                                 Agenda: 700431199
     CUSIP: X3258B102                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 12/1/2003           ISIN: GRS260333000
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve the renewal according to law,                         Mgmt          For            *
        of the purchase of the Company s own
        shares via ATHEX, Article 16
        paragraph 5-14 Cod.Law 2190/1920

-------------------------------------------------------------------------------------------------------
HYATT REGENCY SA                                                              Agenda: 700536494
     CUSIP: X3407C100                         Meeting Type: OGM
    Ticker:                                   Meeting Date: 6/25/2004           ISIN: GRS338163009
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve the annual financial                                  Mgmt          For            *
        statements for the FY 2003
        accompanied by the Board of Directors
        and the Auditors relevant reports
2.      Approve the annual consolidated                               Mgmt          For            *
        financial statements for the FY 2003
        accompanied by the Board of Directors
        and the Auditors relevant reports

<PAGE>

3.      Grant discharge of the Board of                               Mgmt          For            *
        Directors Members and the Auditors
        from any liability for indemnity for
        the FY 2003
4.      Approve the Board of Directors                                Mgmt          For            *
        remuneration for the year 2003 and
        pre approval of the same for the year
5.      Approve the dividend payment for the                          Mgmt          For            *
        year 2003
6.      Elect the Certified Auditors, regular                         Mgmt          For            *
        and substitute, for the FY 2004 and
        fix their remuneration
7.      Approve the decision made by the                              Mgmt          For            *
        Board of Directors for deflection to
        the use of drawned funds
8.      Authorize the Board of Directors                              Mgmt          For            *
        Members for their participation in
        other Companies Board of Directors or
        management pursuing similar business
        goals according to Article 23
        paragraph 1 of Company Law 2190/1920
9.      Miscellaneous announcements                                   Other         For            *

-------------------------------------------------------------------------------------------------------
M-REAL CORP                                                                   Agenda: 700458311
     CUSIP: X5594C116                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 3/15/2004           ISIN: FI0009000665
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        IMPORTANT MARKET PROCESSING                                   Non-
        REQUIREMENT: A BENEFICIAL OWNER                              Voting
        SIGNED POWER OF ATTORNEY (POA) IS
        REQUIRED IN ORDER TO LODGE AND
        EXECUTE YOUR VOTING INSTRUCTIONS IN
        THIS MARKET. ABSENCE OF A POA, MAY
        CAUSE YOUR INSTRUCTIONS TO BE
        REJECTED. SHOULD YOU HAVE ANY
        QUESTIONS, PLEASE CONTACT YOUR CLIENT
        SERVICE REPRESENTATIVE AT ADP.
1.      Approve the matters to be handled at                          Mgmt        Abstain          *
        the AGM, pursuant to the Finnish
        Companies Act and Article 10 of the
        Company s Articles of Association;
        declare a dividend of EUR 0.30 per
        share

-------------------------------------------------------------------------------------------------------
PORTUGAL TELECOM SGPS SA, LISBOA                                              Agenda: 700460190
     CUSIP: X6769Q104                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/2/2004            ISIN: PTPTC0AM0009
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

        PLEASE BE ADVISED THAT THIS IS A                              Non-
        REVISION DUE TO AN AMENDED DEADLINE                          Voting
        DATE. IF YOU HAVE ALREADY SENT YOUR
        VOTES, PLEASE DO NOT RE-SEND THIS
        PROXY FORM UNLESS YOU WISH TO AMEND
        YOU VOTING INSTRUCTIONS. THANK YOU.
1.      Approve the annual report, balance                            Mgmt          For            *
        sheet and the accounts for 2003
10.     Approve to issue bonds as well as on                          Mgmt          For            *
        any other securities and specifically
        about the fixing of the value under
        the terms of Number 3 of Article 8,
        Paragraph (e) of Number 1 of Article
        15 of the By-Laws
11.     Approve the acquisition and                                   Mgmt          For            *
        alienation of bonds and other own
2.      Approve the consolidated annual                               Mgmt          For            *
        report, balance sheet and the
        accounts for 2003
3.      Approve the profit application and                            Mgmt          For            *
        reserves affectation
4.      Approve the general appreciation of                           Mgmt          For            *
        the Company s managing and auditing
5.      Approve the ratification of the                               Mgmt          For            *
        cooptation of Directors
6.      Approve the acquisition and                                   Mgmt          For            *
        alienation of own shares, including
        the acquisition in connection with
        the program of share buy back
7.      Approve the eventual of share capital                         Mgmt          For            *
        reduction and specifically the
        reduction up to EUR 125.428.500, in
        order to release the capital
        copiously in accordance with the
        program of share buy back, through
        the extinguishment at least, up to
        125.428.500 own shares acquired or to
        be acquired, as well as connected
        reserves, due to the reduction of
        issuing of convertible bonds emitted
        by the Company and the consequent
        alteration of the By-Laws to the
        deliberation of the reduction
        Article 4 of the Social Contract
8.      Approve, under the terms of Article                           Mgmt          For            *
        8, Number 4 of the By-Laws on the
        parameter to be applicable in case of
        an eventual issuing of convertible
        bonds in shares that could be
        deliberated by the Board of
        Directors, as well as about the
        issuing of convertible bonds in
        shares already realized by the

<PAGE>

9.      Approve the cancellation of                                   Mgmt          For            *
        preferential right in the
        subscription of an eventual
        convertible bonds issuing, in what
        concerns the Resolution number 8 of
        this meeting that might be done by
        the Board of Directors deliberation

-------------------------------------------------------------------------------------------------------
UPM-KYMMENE CORP                                                              Agenda: 700451595
     CUSIP: X9518S108                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 3/24/2004           ISIN: FI0009005987
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        IMPORTANT MARKET PROCESSING                                   Non-       No Action         *
        REQUIREMENT: A BENEFICIAL OWNER                              Voting
        SIGNED POWER OF ATTORNEY (POA) IS
        REQUIRED IN ORDER TO LODGE AND
        EXECUTE YOUR VOTING INSTRUCTIONS IN
        THIS MARKET. ABSENCE OF A POA, MAY
        CAUSE YOUR INSTRUCTIONS TO BE
        REJECTED. SHOULD YOU HAVE ANY
        QUESTIONS, PLEASE CONTACT YOUR CLIENT
        SERVICE REPRESENTATIVE AT ADP.
1.      Approve the matters pertaining to                             Mgmt       No Action         *
        Article11 of the Company s Articles
        of Association as well as Board s
        proposal to pay dividend of EUR 0,75
        per share
2.      Approve the Board s proposal to buy                           Mgmt       No Action         *
        back the Company s own shares using
        its distributable funds
3.      Authorize the Board to decide on the                          Mgmt       No Action         *
        disposal of the own shares bought
        back in accordance with the above
4.      Authorize the Board to decide on                              Mgmt       No Action         *
        increasing the share capital by
        issuing new shares and/or convertible
        bonds

-------------------------------------------------------------------------------------------------------
UPONOR OYJ                                                                    Agenda: 700452852
     CUSIP: X9518X107                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 3/17/2004           ISIN: FI0009002158
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve the matters pertaining to                             Mgmt          For            *
        Article 10 of the Company s Articles
        of Association as well as Board s
        proposal to pay dividends of EUR 2,00
        per share
2.      Approve the Board s proposal for                              Mgmt          For            *
        reduction of share capital

<PAGE>

3.      Approve the Board s proposal to buy                           Mgmt          For            *
        back the Company s own shares

-------------------------------------------------------------------------------------------------------
ASCENDAS REAL ESTATE INVESTMENT TRUST                                         Agenda: 700449300
     CUSIP: Y0205X103                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 2/10/2004           ISIN: SG1M77906915
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
E1      Approve that, for the purposes of                             Mgmt          For            *
        Clause 5.2.6 of the trust deed dated
        9 October 2002 made between Ascendas-
        MGM Funds Management Limited Manager
        and Bermuda Trust (Singapore) Limited
        Trustee for A-REIT to issue and offer
        160,500,000 units in A- REIT issued
        by the Manager to the holders of
        units in A-REIT and to make the
        Advance Distribution as a consequence
        of the proposed issue; and authorize
        the Manager, any Director of the
        Manager and the Trustee to complete
        and do all such acts and things, such
        Director of the Manager or, as the
        case may be, the Trustee may consider
        expedient or necessary or in the
        interests of A- REIT to give effect
        to the proposed
E2      Approve that, subject to and                                  Mgmt          For            *
        contingent upon the passing of
        Resolution 1, for the placement of up
        to 15,416,452 new units in A-REIT
        under the private placement portion
        of the Equity Fund Raising to
        Ascendas Land (Singapore) Pte Ltd at
        the issue price, provided that no
        more than such number of new units in
        A-REIT as would be required to
        maintain the unitholdings of Ascendas
        Land (Singapore) Pte Ltd at its pre-
        placement level as at the latest
        practicable date may be placed to
        Ascendas Land (Singapore) Pte Ltd;
        and authorize the Manager, any
        Director of the Manager and the
        Trustee to complete and do all such
        acts and things as the Manager, such
        Director of the Manager or, as the
        case may be, the Trustee may deem
        consider expedient or necessary or in
        the interests of A-REIT to give
        effect to such placement

<PAGE>

O3      Approve that, subject to and                                  Mgmt          For            *
        contingent upon the passing of
        Resolution 1, for the placement of up
        to 6,353,229 new units in A-REIT
        under the private placement portion
        of the equity fund raising to MGM
        Singapore Pte. Ltd. at the issue
        price, provided that no more than
        such number of new units in A-REIT as
        would be required to maintain the
        unitholdings of MGM Singapore Pte.
        Ltd. at its pre-placement level as at
        the latest practicable date may be
        placed to MGM Singapore Pte. Ltd.;
        and authorize the Manager, any
        Director of the Manager and the
        Trustee to complete and do all such
        acts and things as the Manager, such
        Director of the Manager or, as the
        case may be, the Trustee may consider
        expedient or necessary or in the
        interests of A-REIT to give effect to
O4      Approve that, subject to and                                  Mgmt          For            *
        contingent upon the passing of
        Resolution 1, for the placement of up
        to 5,866,507 new units in A-REIT
        under the private placement portion
        of the equity fund raising to The
        Capital Group of Companies, Inc. at
        the issue price, provided that no
        more than such number of new units in
        A-REIT as would be required to
        maintain the unitholdings of The
        Capital Group of Companies, Inc. at
        its pre-placement level as at the
        Latest practicable date may be placed
        to The Capital Group of Companies,
        Inc.; and authorize the Manager, any
        Director of the Manager and Trustee
        to complete and do all such acts and
        things as the Manager, such Director
        of the Manager or, as the case may
        be, the Trustee may consider
        expedient or necessary or in the
        interests of A-REIT to give effect to

<PAGE>

O5      Approve that, subject to and                                  Mgmt          For            *
        contingent upon the passing of
        Resolution 1, for the placement of up
        to 5,522,356 new units in A-REIT
        under the private placement portion
        of the equity fund raising to
        Prudential Asset Management
        (Singapore) Limited at the issue
        price, provided that no more than
        such number of new units in A-REIT as
        would be required to maintain the
        unitholdings of Prudential Asset
        Management (Singapore) Limited at its
        pre-placement level as at the latest
        Practicable date may be placed to
        Prudential Asset Management
        (Singapore) Limited; and Authorize
        the Manager, any Director of the
        Manager and Trustee to complete and
        do all such acts and things as the
        Manager, such Director of the Manager
        or, as the case may be, the Trustee
        may consider expedient or necessary
        or in the interests of A-REIT to give
        effect to such placement

-------------------------------------------------------------------------------------------------------
CHINA TELECOM CORP LTD                                                        Agenda: 700474858
     CUSIP: Y1505D102                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/3/2004            ISIN: CN0007867483
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve the consolidated financial                            Mgmt       No Action         *
        statements of the Company, the report
        of the Board of Directors, the report
        of the Supervisory Committee and the
        report of the internal Auditors for
        the YE 31 DEC 2003
2.      Approve the profit distribution and                           Mgmt       No Action         *
        declare a final dividend for the YE
        31 DEC 2003
3.      Approve the annual remuneration for                           Mgmt       No Action         *
        the Company s Directors for the YE 31
        DEC 2003
4.      Re-appoint KPMG as the Company s                              Mgmt       No Action         *
        internal Auditors and KPMG Huazhen,
        as the Company s domestic Auditors
        for the YE 31 DEC 2004 and authorize
        the Board of Directors of the Company
        to fix the remuneration thereof

<PAGE>

S.5     Authorize the Board of Directors of                           Mgmt       No Action         *
        the Company to allot, issue and deal
        with additional shares of the Company
        and to make or grant offers,
        agreements and options during and
        after the relevant period, not
        exceeding 20% of the each of the
        Company s existing domestic shares
        and H share in issue otherwise than
        pursuant to: i) a rights issue; or
        ii) any scrip dividend or similar
        arrangement; Authority expires the
        earlier of the conclusion of the next
        AGM of the Company or 12 months
S.6     Authorize the Board of Directors of                           Mgmt       No Action         *
        the Company to increase the
        registered capital of the Company to
        reflect the issue of shares in the
        Company authorized under Resolution
        S.5, and to make such appropriate and
        necessary amendments to the Articles
        of Association of the Company as
        deem fit to reflect such increase in
        the registered capital of the Company
        and to take any other action and
        complete any formality required to
        effect such increase of the
        registered capital of the Company

-------------------------------------------------------------------------------------------------------
CHINA TELECOM CORP LTD                                                        Agenda: 700472498
     CUSIP: Y1505D102                         Meeting Type: CLS
    Ticker:                                   Meeting Date: 5/3/2004            ISIN: CN0007867483
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

S.1     Authorize the Directors of the                                Mgmt          For            *
        Company to issue and allot up to
        8,317,560,515 New H Shares the New H
        Shares , which comprises i) up to
        7,561,418,650 New H Shares
        representing approximately 10% of the
        current registered share capital of
        the Company the Primary Shares and
        ii) up to 756,141,865 New H Shares
        representing 10% of the 7,561,418,650
        Primary Shares to be issued and
        allotted upon conversion of up to
        756,141,865 existing domestic shares
        held by PRC state shareholders the
        Secondary Shares to comply with the
        provisional measures on the
        administration of the reduction of
        the state owned shares for raising
        social security funds subject to the
        following: a) the number of Secondary
        Shares actually issued and allotted
        upon conversion from domestic shares
        shall be 10% of the number of Primary
        Shares actually issued and allotted
        by the Company at any time and from
        time to time pursuant to this special
        resolution; b) any issue and
        allotment of the New H Shares
        pursuant to this special resolution
        shall be made on such terms and
        conditions as the Directors of the
        Company or a duly authorized
        committee thereof approve to be
        appropriate and in the best interests
        of the Company and subject to other
        conditions, including size, timing
        and price, as mentioned in this
        special resolution; c) the price at
        which any or all of the New H Shares
        may be issued and allotted by the
        Directors of the Company pursuant to
        this special resolution shall be
        determined by reference to the
        prevailing market price of the H
        Shares at the time of offering and
        all other relevant market
        considerations; such price will in
        any event be within a range of 20%
        below or above the prevailing market
        price of the H Shares of the Company
        at the time of the offering; d) the
        net proceeds from any such issue and
        allotment of the Primary Shares shall
        wholly fund the Company s potential
        acquisition; if the potential
        acquisition does not proceed for
        whatever reason, any net proceeds

<PAGE>

        raised from the issue and allotment
        of the Primary Shares pursuant to the
        new issue will be used for the
        Company s other similar possible
        strategic acquisition; pending such
        use, the Company will invest such net
        proceeds in certificates of deposit,
        US Government securities or certain
        other interest-bearing securities or
        place such net proceeds in bank
        deposits; any use, investment or
        deposit of the net proceeds as
        mentioned above other than for the
        potential acquisition will have been
        reviewed and approved by the
        Independent Non-Executive Directors
        of the Company; e) any New H Shares
        to be issued and allotted shall be
        offered to investors who are
        independent of and not connected with
        any Promoter, Director, Supervisor,
        Chief Executive or substantial
        shareholder of the Company or any of
        its subsidiaries or an Associate of
        any of them, in full compliance with
        the rules and regulations of the
        Listing Rules and all applicable
        laws; f) approval of the issue and
        allotment of the New H Shares shall
        be obtained from the holders of
        domestic shares by way of special
        resolution at a separate class
        meeting of holders of domestic shares
        and from shareholders of the Company
        by way of special resolution at an
        EGM; g) approvals for the issue and
        allotment of the New H Shares shall
        be obtained from all relevant PRC
        governmental and regulatory
        authorities; and h) the authority to
        the Directors of the Company to issue
        and allotment the New H Shares
        pursuant to the new issue shall lapse
S.2     Authorize the Directors of the                                Mgmt          For            *
        Company to increase the registered
        capital of the Company and to make
        such appropriate and necessary
        amendments to the Articles of the
        Association of the Company as they
        think fit to reflect the registered
        capital of the Company following the
        issue and allotment of any or all of
        the New H Shares as the Directors of
        the Company may in their discretion
        decide to issue and allot pursuant to

<PAGE>

S.3     Approve that, subject to the passing                          Mgmt          For            *
        of S.1 above, the holders of H Shares
        of the Company, for the avoidance of
        doubt, waive their pre-emptive
        rights if any over any or all of
        the New H Shares which may be issued
        and allotted pursuant to S.1

-------------------------------------------------------------------------------------------------------
CHINA TELECOM CORP LTD                                                        Agenda: 700426996
     CUSIP: Y1505D102                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 12/15/2003          ISIN: CN0007867483
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve the conditional sale and                              Mgmt          For            *
        purchase agreement dated 26 OCT 2003
        the Acquisition Agreement , between
        the Company and China
        Telecommunications Corporation,
        pursuant to which, inter alia, China
        Telecommunications Corporation has
        agreed to sell and the Company agreed
        to purchase, the target assets at a
        purchase price of CNY 46,000 million
        comprising: a) CNY 11,000 million
        payable in cash at completion of the
        acquisition; and b) CNY 35,000
        million to be paid on the date
        falling 10 years from completion of
        the acquisition; and authorize the
        Directors of the Company to do all
        such further acts and things and
        execute such further documents and
        take all such steps which in their
        opinion as may be necessary,
        desirable or expedient to implement
        and/or give effect to the terms of
        the Acquisition Agreement

<PAGE>

2.      Approve, subject to the passing of                            Mgmt          For            *
        ordinary Resolution number 1 of this
        meeting being proposed, the
        prospective connected transactions
        set out in Sections 10.1(b), 10.2(a),
        10.2(e) and 10.2(f) as described in
        the paragraph headed Connected
        Transactions under the Section Letter
        from the Chairman, of the circular of
        the Company dated 27 OCT 2003, which
        the Company expects to occur on a
        regular and continuous basis in the
        ordinary and usual course of business
        of the Company, its subsidiaries and
        the Target Group, as the case may be,
        together with the Combined Group s
        relevant upper limits; and authorize
        the Directors of the Company to do
        all such further acts and things and
        execute such further documents and
        take all such steps which in their
        opinion as may be necessary,
        desirable or expedient to implement
        and/or give effect to the terms of
        such prospective connected
        transactions and such supplemental
        agreements relating to
S.3     Approve to amend, subject to the                              Mgmt          For            *
        passing of ordinary Resolution number
        1 of this meeting being proposed,
        the service areas of the Company
        stipulated in Article 13 of the
        Articles of Association of the
        Company from 4 provinces namely
        Shanghai, Guandong, Jiangsu and
        Zhejiang to 10 provinces namely
        Shanghai, Guandong, Jiangsu,
        Zhejiang, Anhui, Fujian, Jiangxi,
        Guangxi, Chongquing and Sichuan, to
        reflect the change in the service
        areas of the Company as a result of
        the acquisition referred to in the
        ordinary Resolution number 1; and
        authorize the Directors to take all
        such actions which in their opinion
        are necessary or desirable to
        complete the procedures for the
        approval and/or registration or
        filing of the aforementioned

-------------------------------------------------------------------------------------------------------
CHINA TELECOM CORP LTD                                                        Agenda: 700472486
     CUSIP: Y1505D102                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 5/3/2004            ISIN: CN0007867483
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

S.1     Authorize the Directors of the                                Mgmt          For            *
        Company to issue and allot up to
        8,317,560,515 New H Shares the New H
        Shares , which comprises i) up to
        7,561,418,650 New H Shares
        representing approximately 10% of the
        current registered share capital of
        the Company the Primary Shares and
        ii) up to 756,141,865 New H Shares
        representing 10% of the 7,561,418,650
        Primary Shares to be issued and
        allotted upon conversion of up to
        756,141,865 existing domestic shares
        held by PRC state shareholders the
        Secondary Shares to comply with the
        provisional measures on the
        administration of the reduction of
        the state owned shares for raising
        social security funds subject to the
        following: a) the number of Secondary
        Shares actually issued and allotted
        upon conversion from domestic shares
        shall be 10% of the number of Primary
        Shares actually issued and allotted
        by the Company at any time and from
        time to time pursuant to this special
        resolution; b) any issue and
        allotment of the New H Shares
        pursuant to this special resolution
        shall be made on such terms and
        conditions as the Directors of the
        Company or a duly authorized
        committee thereof approve to be
        appropriate and in the best interests
        of the Company and subject to other
        conditions, including size, timing
        and price, as mentioned in this
        special resolution; c) the price at
        which any or all of the New H Shares
        may be issued and allotted by the
        Directors of the Company pursuant to
        this special resolution shall be
        determined by reference to the
        prevailing market price of the H
        Shares at the time of offering and
        all other relevant market
        considerations; such price will in
        any event be within a range of 20%
        below or above the prevailing market
        price of the H Shares of the Company
        at the time of the offering; d) the
        net proceeds from any such issue and
        allotment of the Primary Shares shall
        wholly fund the Company s potential
        acquisition; if the potential
        acquisition does not proceed for
        whatever reason, any net proceeds

<PAGE>

        raised from the issue and allotment
        of the Primary Shares pursuant to the
        new issue will be used for the
        Company s other similar possible
        strategic acquisition; pending such
        use, the Company will invest such net
        proceeds in certificates of deposit,
        US Government securities or certain
        other interest-bearing securities or
        place such net proceeds in bank
        deposits; any use, investment or
        deposit of the net proceeds as
        mentioned above other than for the
        potential acquisition will have been
        reviewed and approved by the
        Independent Non-Executive Directors
        of the Company; e) any New H Shares
        to be issued and allotted shall be
        offered to investors who are
        independent of and not connected with
        any Promoter, Director, Supervisor,
        Chief Executive or substantial
        shareholder of the Company or any of
        its subsidiaries or an Associate of
        any of them, in full compliance with
        the rules and regulations of the
        Listing Rules and all applicable
        laws; f) approval of the issue and
        allotment of the New H Shares shall
        be obtained from the holders of H
        shares by way of special resolution
        at a separate class meeting of
        holders of H shares and from the
        holders of domestic shares of the
        Company by way of special resolution
        at a separate class meeting of
        holders of domestic shares; g)
        approvals for the issue and allotment
        of the New H Shares shall be obtained
        from all relevant PRC governmental
        and regulatory authorities; and h)
        the authority to the Directors of the
        Company to the issue and allotment
        the New H Shares
S.2     Authorize the Directors of the                                Mgmt          For            *
        Company to increase the registered
        capital of the Company and to make
        such appropriate and necessary
        amendments to the Articles of the
        Association of the Company as they
        think fit to reflect the registered
        capital of the Company following the
        issue and allotment of any or all of
        the New H Shares as the Directors of
        the Company may in their discretion
        decide to issue and allot pursuant to

<PAGE>

S.3     Approve that, subject to the passing                          Mgmt          For            *
        of S.1 above, the shareholders of the
        Company, for the avoidance of doubt,
        waive their pre-emptive rights if
        any over any or all of the New H
        Shares which may be issued and
        allotted pursuant to S.1

-------------------------------------------------------------------------------------------------------
CHINA TELECOM CORP LTD                                                        Agenda: 700495321
     CUSIP: Y1505D102                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 6/9/2004            ISIN: CN0007867483
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
O.1     Approve the conditional sale and                              Mgmt          For            *
        purchase agreement dated 13 APR 2004
        Acquisition Agreement between the
        Company and China Telecommunications
        Corporation, pursuant to which, inter
        alia, China Telecommunications
        Corporation has agreed to sell, and
        the Company has agreed to purchase,
        the entire equity interests in each
        of the Target Companies at a purchase
        price of CNY 27,800 million
        comprising: (a) an initial cash
        consideration of CNY 8,340 million
        payable in cash at completion of the
        acquisition; and (b) a deferred
        consideration of CNY 19,460 million
        to be paid on or before the date
        falling ten years from completion of
        the acquisition
O.2     Approve, subject to the passing of                            Mgmt          For            *
        Ordinary Resolution 1, the
        prospective connected transactions as
        specified, which the Company expects
        to occur on a regular and continuous
        basis in the ordinary and usual
        course of business of the Company,
        its subsidiaries and the Target
        Group, as the case may be, together
        with the Combined Groups relevant
        aggregate annual values for the
        engineering agreements, community
        services agreements and ancillary
        telecommunications services
        agreements and the absence of an
        aggregate annual value for the
        interconnection agreement, and
        authorize the Directors of the
        Company to do all such further acts
        and things and execute such further
        documents and take all such steps
        which in their opinion may be
        necessary, desirable or expedient to

<PAGE>

        implement and or give effect to the
S.3     Approve, subject to the passing of                            Mgmt          For            *
        Ordinary Resolution , that the
        service areas of the Company
        stipulated in Article 13 of the
        Articles of Association of the
        Company is amended from ten provinces
        autonomous regions, municipalities
        directly under the central
        government, namely Shanghai,
        Guangdong, Jiangsu, Zhejiang, Anhui,
        Fujian, Jiangxi, Guangxi, Chongqing
        and Sichuan to twenty provinces
        autonomous regions, municipalities
        directly under the central government
        , namely Shanghai, Guangdong,
        Jiangsu, Zhejiang, Anhui, Fujian,
        Jiangxi, Guangxi, Chongqing, Sichuan,
        Hubei, Hunan, Hainan, Guizhou,
        Yunnan, Shaanxi, Gansu, Qinghai,
        Ningxia and Xinjiang to reflect the
        change in the service areas of the
        Company, and authorize the Directors
        of the Company to take all actions
        which in their opinion are necessary
        or desirable to complete the
        procedures for the approval and/or
        registration or filing of the afore
        mentioned amendments to the Articles
S.4     Amend the Articles of Association of                          Mgmt          For            *
        the Company by: (a) restating Article
        6; (b) adding the paragraph to the
        end of the Article 65; (c) replacing
        the second paragraph of Article 95

-------------------------------------------------------------------------------------------------------
CHINATRUST FINANCIAL HOLDINGS COMPANY LTD                                     Agenda: 700476319
     CUSIP: Y15093100                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 6/11/2004           ISIN: TW0002891009
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE THE REVISED WORDING OF                            Non-
        RESOLUTION 2.3. THANK YOU                                    Voting
1.1     Approve the 2003 business operation                           Mgmt          For            *
        and financial statements
1.2     Approve the 2003 audited report                               Mgmt          For            *
1.3     Approve the execution result of                               Mgmt          For            *
        purchasing treasury stocks
1.4     Approve the execution result of                               Mgmt          For            *
        issuing Corporate bond
2.1     Receive the revision to the proposal                          Mgmt          For            *
        of issuing Corporate/convertible bond
2.2     Receive the 2003 financial statements                         Mgmt          For            *

<PAGE>

2.3     Receive the 2003 profit distribution;                         Mgmt          For            *
        cash dividend: TWD 1.1 per share,
        bonus issue 60 for 1,000 shares held
3.1     Approve the abolishment of the                                Mgmt        Abstain          *
        procedures of funds lending to third
        parties and the proposal of
        endorsement and guarantee
3.2     Approve the issuance of new shares                            Mgmt          For            *
3.3     Approve the revision of the Articles                          Mgmt        Abstain          *
        of Incorporation
4.      Other issues and extraordinary                                Other         For            *

-------------------------------------------------------------------------------------------------------
CHUNGHWA TELECOM CO LTD                                                       Agenda: 700509740
     CUSIP: Y1613J108                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 6/25/2004           ISIN: TW0002412004
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE THAT THIS IS AN AMENDMENT                         Non-
        TO MEETING ID 126609, DUE TO CHANGE                          Voting
        IN THE AGENDA. ALL VOTES RECEIVED ON
        THE PREVIOUS MEETING WILL BE
        DISREGARDED AND YOU WILL NEED TO
        REINSTRUCT ON THIS MEETING NOTICE.
1.1     Approve the 2003 business operations                          Mgmt          For            *
1.2     Approve the 2003 audited reports                              Mgmt          For            *
1.3     Approve the ministry of auditing s                            Mgmt          For            *
        audit number of the Company s 2002
        financial statements
1.4     Amend the rules of Board meeting                              Mgmt          For            *
2.1     Approve the 2003 financial statements                         Mgmt          For            *
2.2     Approve the 2003 profit distribution:                         Mgmt          For            *
        cash dividend: TWD 4.5 per share
3.1     Approve the procedures of asset                               Mgmt          For            *
        acquisition or disposal
3.2     Amend the Articles of Incorporation                           Mgmt        Abstain          *
3.3     Approve the amended procedures for                            Mgmt          For            *
        endorsement and guarantee
3.4     Amend the rules of shareholders                               Mgmt          For            *
3.5     Elect the Directors and the                                   Mgmt          For            *
4.      Elect the Directors and the                                   Mgmt          For            *
5.      Extraordinary motion                                          Other         For            *

-------------------------------------------------------------------------------------------------------
COMFORTDELGRO CORPORATION LTD                                                 Agenda: 700493911
     CUSIP: Y1690R106                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/29/2004           ISIN: SG1N31909426
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

1.      Receive and adopt the Directors                               Mgmt          For            *
        report and the audited accounts for
        the FYE 31 DEC 2003 together with the
        Auditors report
10.     Authorize the Directors, pursuant to                          Mgmt        Against          *
        Section 161 of the Companies Act,
        Chapter 50 and the listing rules of
        the Singapore Exchange Securities
        Trading Limited, to allot and issue
        shares in the Company by way of
        rights, bonus or otherwise , the
        aggregate number of shares issued not
        exceeding 50% of the issued share
        capital of the Company, of which the
        aggregate number of shares to be
        issued other than on a pro-rata basis
        to the existing shareholders of the
        Company does not exceed 20% of the
        issued share capital of the Company
        and the percentage of issued share
        capital shall be calculated based on
        the Company s issued share capital at
        the date of passing of this
        resolution after adjusting for new
        shares arising from the conversion of
        convertible securities or employee
        share options on issue and any
        subsequent consolidation or
        subdivision of shares; Authority
        expires the earlier of the conclusion
        of the next AGM of the Company or
        the date of the next AGM of the
11.     Authorize the Directors in accordance                         Mgmt          For            *
        with the rules and terms of the
        Comfortdelgro Employees Share Option
        Scheme to allot and issue time to
        time number of share in the Company
        provided that the aggregate number of
        shares to be issued shall not exceed
        15% of the total issued share
        capital of the Company
2.      Declare a final dividend of 12.25%                            Mgmt          For            *
        per share less income tax for the YE
        31 DEC 2003
3.      Approve the payment of Directors                              Mgmt          For            *
        fees of SGD 377,891 for the YE 31 DEC
4.      Re-elect Mr. Lim Jit Poh as a                                 Mgmt          For            *
5.      Re-elect Mr. Kua Hong Pak as a                                Mgmt          For            *
6.      Re-elect Mr. Tow Heng Tan as a                                Mgmt          For            *
7.      Re-elect Mr. David Wong Chin Huat as                          Mgmt          For            *
        a Director
8.      Re-appoint Meesrs Deloitte and Touche                         Mgmt          For            *
        as the Auditors and authorize the
        Directors to fix their remuneration

<PAGE>

9.      Transact any other ordinary business                          Other         For            *

-------------------------------------------------------------------------------------------------------
FUBON FINL HLDG CO LTD                                                        Agenda: 700516202
     CUSIP: Y26528102                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 6/3/2004            ISIN: TW0002881000
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
        PLEASE NOTE THAT THIS IS AN AMENDMENT                         Non-
        TO MEETING ID 126410 DUE TO CHANGE                           Voting
        IN THE AGENDA. ALL VOTES RECEIVED ON
        THE PREVIOUS MEETING WILL BE
        DISREGARDED AND YOU WILL NEED TO
        REINSTRUCT ON THIS MEETING NOTICE.
I.1     Approve the business report for 2003                          Mgmt          For            *
I.2     Approve the Supervisors review                                Mgmt          For            *
        report for 2003
II.1    Approve the final statements of 2003                          Mgmt          For            *
II.2    Approve the distribution of earning                           Mgmt          For            *
        of 2003; cash dividend of TWD 1.6 per
        shares
III.    Amend the Article of Incorporation                            Mgmt        Abstain          *
IV.     Elect a Director                                              Mgmt          For            *
V.      Other proposals and motions                                   Other         For            *

-------------------------------------------------------------------------------------------------------
HANG LUNG GROUP LTD                                                           Agenda: 700424574
     CUSIP: Y30148111                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 11/13/2003          ISIN: HK0010000088
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and approve the financial                             Mgmt          For            *
        statements and the reports of the
        Directors and the Auditors for the YE
        30 JUN 2003
2.      Declare a final dividend                                      Mgmt          For            *
3.      Re-elect the Directors and authorize                          Mgmt          For            *
        the Board of Directors to fix their
        fees
4.      Re-appoint the Auditors and authorize                         Mgmt          For            *
        the Directors to fix their

<PAGE>

5.A     Authorize the Directors to purchase                           Mgmt          For            *
        shares in the capital of the Company
        on the Stock Exchange of Hong Kong
        Limited Stock Exchange or any other
        stock exchange recognized by the
        Securities and Futures Commission of
        Hong Kong and the Stock Exchange
        under the Hong Kong Code on Share
        Repurchases for this purpose, not
        exceeding 10% of the aggregate
        nominal amount of the issued share
        capital at the date of passing this
        resolution; Authority expires the
        earlier of the conclusion of the next
        AGM of the Company or the expiration
        of the period within which the next
        AGM is to be held by any applicable
5.B     Authorize the Directors, pursuant to                          Mgmt        Abstain          *
        Section 57B of the Companies
        Ordinance, to allot, issue and deal
        with additional shares in the capital
        of the Company or securities
        convertible into shares or options,
        warrants or similar rights to
        subscribe for shares and make or
        grant offers, agreements and options
        during and after the relevant period,
        not exceeding 20% of the aggregate
        nominal amount of the issued share
        capital of the Company or 10% of the
        repurchased share capital of the
        Company, otherwise than pursuant to
        i) a rights issue; or ii) the
        exercise of subscription or
        conversion rights attached to any
        warrants or securities; or iii) the
        exercise of options or similar
        arrangement; or iv) any scrip
        dividend or similar arrangement
5.C     Authorize the Directors of the                                Mgmt        Abstain          *
        Company to exercise the powers of the
        Company Resolution 5.B in respect
        of the share capital of the Company
        Resolution 5.B
6.      Any other business                                            Other       Abstain          *

-------------------------------------------------------------------------------------------------------
HANG LUNG PROPERTIES LTD                                                      Agenda: 700424586
     CUSIP: Y30166105                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 11/13/2003          ISIN: HK0101000591
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and consider the financial                            Mgmt          For            *
        statements and reports of the
        Directors and Auditors for the year

<PAGE>

        ended 30 JUN 2003
2.      Declare a final ordinary dividend                             Mgmt          For            *
3.      Re-elect the Directors; and authorize                         Mgmt          For            *
        the Board of Directors to fix
        Directors fees
4.      Re-appoint the Auditors; and                                  Mgmt          For            *
        authorize the Directors to fix their
5.A     Approve that: (a) subject to                                  Mgmt          For            *
        paragraphs (b) and (c) below, the
        exercise by the Directors of the
        Company during the Relevant Period of
        all the powers of the Company to
        purchase shares in the capital of the
        Company be and is hereby generally
        and unconditionally approved; (b) the
        aggregate nominal amount of ordinary
        shares of HKD 1 each in the capital
        of the Company (Ordinary Shares)
        which may be purchased by the Company
        on The Stock Exchange of Hong Kong
        Limited or on any other stock
        exchange recognized for this purpose
        by the Securities and Futures
        Commission and The Stock Exchange of
        Hong Kong Limited under the Hong Kong
        Code on Share Repurchases pursuant
        to the approval in paragraph (a)
        above shall not exceed 10% of the
        aggregate nominal amount of the
        Ordinary Shares in the share capital
        of the Company in issue at the date
        of passing this Resolution, and the
        said approval shall be limited
        accordingly; (c) the aggregate
        nominal amount of convertible
        cumulative preference shares of HKD
        7,500 each in the capital of the
        Company (Convertible Preference
        Shares) which may be purchased by the
        Company on The Stock Exchange of
        Hong Kong Limited, Societe de la
        Bourse de Luxembourg (Luxembourg
        Stock Exchange) or on any other stock
        exchange recognized for this purpose
        by the Securities and Futures
        Commission and The Stock Exchange of
        Hong Kong Limited under the Hong Kong
        Code on Share Repurchases pursuant
        to the approval in paragraph (a)
        above shall not exceed 10% of the
        aggregate nominal amount of the
        Convertible Preference Shares in the
        share capital of the Company in issue
        at the date of passing this
        Resolution, and the said approval
        shall be limited accordingly; and (d)

<PAGE>

        for the purpose of this Resolution,
        Relevant Period means the period from
        the passing of this Resolution until
        whichever is the earlier of: (i) the
        conclusion of the next AGM of the
        Company; (ii) the expiration of the
        period within which the next AGM of
        the Company is required by law to be
        held; and (iii) the revocation or
        variation of the authority given
        under this Resolution by ordinary
        resolution of the shareholders in
5.B     Approve that: (a) subject to                                  Mgmt        Abstain          *
        paragraph (c) below, pursuant to
        Section 57B of the Companies
        Ordinance, the exercise by the
        Directors of the Company during the
        Relevant Period of all the powers of
        the Company to allot, issue and deal
        with additional shares in the capital
        of the Company and to allot, issue
        or grant securities convertible into
        shares in the capital of the Company
        or options, warrants or similar
        rights to subscribe for any such
        shares or such convertible securities
        and to make or grant offers,
        agreements and options which might
        require the exercise of such powers
        be and it is hereby generally and
        unconditionally approved; (b) the
        approval in paragraph (a) above shall
        authorize the Directors of the
        Company during the Relevant Period to
        allot, issue or grant securities
        convertible into shares in the
        capital of the Company and to make or
        grant offers, agreements and options
        which might require the exercise of
        such powers after the end of the
        Relevant Period; (c) the aggregate
        nominal amount of share capital
        allotted or agreed conditionally or
        unconditionally to be allotted
        (whether pursuant to an option or
        otherwise) by the Directors of the
        Company pursuant to the approval in
        paragraph (a) above, otherwise than
        pursuant to (i) a Rights Issue, (ii)
        the exercise of rights of
        subscription under the terms of any
        warrants issued by the Company or the
        exercise of rights of conversion
        attaching to any Convertible
        Preference Shares, (iii) any option
        scheme or similar arrangement for the
        time being adopted for the grant or

<PAGE>

        issue to officers and/or employees of
        the Company and/or any of its
        subsidiaries of shares or rights to
        acquire shares of the Company or (iv)
        any scrip dividend or similar
        arrangement providing for the
        allotment of shares in lieu of the
        whole or part of a dividend on shares
        of the Company in accordance with
        the Articles of Association of the
        Company, shall not exceed the
        aggregate of: (aa) in the case of
        Ordinary Shares, 20% of the aggregate
        nominal amount of the Ordinary
        Shares in the share capital of the
        Company in issue at the date of
        passing this Resolution plus (bb) in
        the case of Convertible Preference
        Shares, 20% of the aggregate nominal
        amount of the Convertible Preference
        Shares in the share capital of the
        Company in issue at the date of
        passing this Resolution plus (cc) if
        the Directors are so authorized by a
        separate ordinary resolution of the
        shareholders of the Company set out
        as Resolution No. 5C in the Notice of
        the Meeting, the nominal amount of
        the share capital of the Company
        repurchased by the Company subsequent
        to the passing of this Resolution,
        up to a maximum equivalent to 10 % in
        the case of Ordinary Shares, the
        aggregate nominal amount of the
        Ordinary Shares in issue at the date
        of passing this Resolution and in the
        case of Convertible Preference
        Shares, the aggregate nominal amount
        of the Convertible Preference Shares
        in issue at the date of passing this
        Resolution, and the said approval
        shall be limited accordingly; and (d)
        for the purpose of this Resolution:
        Rights Issue means an offer of shares
        or other securities open for a
        period fixed by the Directors of the
        Company to holders of shares of the
        Company or any class thereof on the
        register on a fixed record date in
        proportion to their then holdings of
        such shares or class thereof (subject
        to such exclusion or other
        arrangements as the Directors of the
        Company may deem necessary or
        expedient in relation to fractional
        entitlements or having regard to any
        restrictions or obligations under the

<PAGE>

        laws of, or the requirements of any
5.C     Authorize the Directors of the                                Mgmt        Abstain          *
        Company to exercise the powers of the
        Company referred to in paragraph (a)
        of the resolution set out as
        Resolution No. 5B in the Notice of
        the Meeting in respect of the share
        capital of the Company referred to in
        sub-paragraph (cc) of paragraph (c)
        of such Resolution

6.      Transact any other business                                   Other       Abstain          *

<PAGE>

-------------------------------------------------------------------------------------------------------
HONG KONG & CHINA GAS CO LTD                                                  Agenda: 700492375
     CUSIP: Y33370100                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 5/5/2004            ISIN: HK0003000038
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and approve the statement of                          Mgmt          For            *
        accounts for the YE 31 DEC 2003 and
        the reports of the Directors and the
        Auditors thereon
2.      Declare a final dividend                                      Mgmt          For            *
3.      Re-elect the Directors                                        Mgmt          For            *
4.      Re-appoint PricewaterhouseCoopers as                          Mgmt          For            *
        the Auditors of the Company and
        authorize the Directors to fix their
        remuneration
5.      Approve the Director s fee of HKD                             Mgmt          For            *
        130,000 per annum and the Chairman s
        fee of an additional HKD 130,000 per
        annum
6.1     Authorize the Directors to purchase                           Mgmt          For            *
        shares in the capital of the Company
        during the relevant period, not
        exceeding 10% of the aggregate
        nominal amount of the issued share
        capital; Authority expires the
        earlier of the conclusion of the next
        AGM of the Company or the expiration
        of the period within which the next
        AGM is to be held by law or in
        accordance with the Articles of
        Association of the Company
6.2     Authorize the Directors of the                                Mgmt        Against          *
        Company to allot, issue and deal with
        additional shares in the capital of
        the Company and make or grant offers,
        agreements, options and warrants
        during and after the relevant period,
        not exceeding 20% of the aggregate
        nominal amount of the issued share
        capital of the Company otherwise than
        pursuant to a rights issue; Authority
        expires the earlier of the conclusion
        of the next AGM of the Company or the
        expiration of the period within which
        the next AGM is to be held by law or
        in accordance with the Articles of
        Association of

<PAGE>

6.3     Approve, conditional upon the passing                         Mgmt          For            *
        of Resolutions 6.1 and 6.2, to
        extend the general mandate granted to
        the Directors to allot, issue and
        deal with the shares pursuant to
        Resolution 6.2, by an amount
        representing the aggregate nominal
        amount of the share capital
        repurchased pursuant to Resolution
        6.1, provided that such amount does
        not exceed 10% of the aggregate
        nominal amount of the issued share
        capital of the Company at the date of
S.6.4   Amend the Articles of Association of                          Mgmt          For            *
        the Company by: amending Article 69,
        adding a New Article 79A after
        Article 79, amending Articles 81, 93,
        105(G), 105(H), 105(I) and 105(K)

-------------------------------------------------------------------------------------------------------
HUNG HING PRINTING GROUP LTD                                                  Agenda: 700393820
     CUSIP: Y3779N105                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 8/20/2003           ISIN: HK0450001869
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and consider the audited                              Mgmt          For            *
        financial statements and the reports
        of the Directors and the Auditors for
        the FYE 31 MAR 2003
2.      Declare a final dividend for the YE                           Mgmt          For            *
        31 MAR 2003
3.      Re-elect the Directors and fix their                          Mgmt          For            *
        remuneration
4.      Appoint the Auditors and authorize                            Mgmt          For            *
        the Directors to fix their
5.A     Authorize the Directors to allot,                             Mgmt        Against          *
        issue and deal with shares of HKD
        0.10 in the capital of the Company
        and make or grant offers, agreements
        and options including bonds,
        warrants and debentures convertible
        into shares of the Company during
        and after the relevant period, not
        exceeding 20% of the aggregate
        nominal amount of the issued share
        capital of the Company at the date of
        passing this resolution, otherwise
        than pursuant to i) a rights issue;
        or ii) any share option scheme or
        similar arrangement; or iii) any
        scrip dividend or similar
        arrangement; Authority expires the
        earlier of the conclusion of the next
        AGM or the expiration of the period
        within which the next AGM is to be

<PAGE>

        held by law.
5.B     Authorize the Directors to purchase                           Mgmt          For            *
        shares of HKD 0.10 in the capital of
        the Company during the relevant
        period, subject to and in accordance
        with all applicable laws and
        regulations, not exceeding 10% of the
        aggregate nominal amount of the
        issued share capital at the date of
        passing this resolution; Authority
        expires the earlier of the conclusion
        of the next AGM of the Company or
        the expiration of the period within
        which the next AGM of the Company is
        to be held by law
5.C     Approve, conditional upon the passing                         Mgmt          For            *
        of Resolutions 5.A and 5.B, to add
        the aggregate nominal amount of the
        share capital of the Company
        purchased by the Company pursuant to
        Resolution 5.B, to the aggregate
        nominal amount of the share capital
        of the Company that may be allotted
        pursuant to Resolution 5.A, provided
        that such amount shall not exceed 10%
        of the aggregate nominal amount of
        the issued share capital of the
        Company at the date of passing this
        Resolution.

-------------------------------------------------------------------------------------------------------
HYUNDAI DEVELOPMENT CO - ENGINEERING &                                        Agenda: 700463716
CONSTRUCTION
     CUSIP: Y38397108                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 3/19/2004           ISIN: KR7012630000
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Approve the 27th balance sheet,                               Mgmt          For            *
        income statement and the proposed
        disposition of the retained earnings
        of the year 2003
2.      Appoint the Directors                                         Mgmt          For            *
3.      Appoint the Audit Committee member                            Mgmt          For            *
        who is the External Director
4.      Approve the remuneration limit for                            Mgmt          For            *
        the Directors

-------------------------------------------------------------------------------------------------------
KT&G CORPORATION                                                              Agenda: 700466027
     CUSIP: Y49904108                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 3/18/2004           ISIN: KR7033780008
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

        PLEASE NOTE THAT THIS IS AN AMENDMENT                         Non-
        TO MEETING ID #127352 DUE TO THE                             Voting
        REVISED AGENDA. ALL VOTES RECEIVED
        ON THE PREVIOUS NOTICE OF MEETING
        WILL BE DISREGARDED AND YOU WILL NEED
        TO REINSTRUCT ON THIS NOTICE OF
        MEETING. THANK YOU.
1.      Approve the balance sheet, income                             Mgmt          For            *
        statement and statement of
        appropriation of retained for the
        17th FY
2.      Amend the Articles of Incorporation                           Mgmt          For            *
3.      Appoint Mr. Kwak, Young Kyoon as the                          Mgmt          For            *
        President
4.1     Appoint Mr. Lee, Kwang Youl as the                            Mgmt          For            *
        Executive Director
4.2     Appoint Mr. Min, Young Jin as the                             Mgmt          For            *
        Executive Director
5.      Appoint Mr. Cha, Sun Gak as the                               Mgmt          For            *
        Outside Director
6.1     Appoint Mr. Kim, Jin Hyun as an                               Mgmt          For            *
        Outsider Director who will serve as
        the Audit Committee Member
6.2     Appoint Mr. Lee, Man Woo as an                                Mgmt          For            *
        Outsider Director who will serve as
        the Audit Committee Member
6.3     Appoint Mr. Soh, Soon Moo as an                               Mgmt          For            *
        Outsider Director who will serve as
        the Audit Committee Member
6.4     Appoint Mr. Kim, Byong Kyun as an                             Mgmt          For            *
        Outsider Director who will serve as
        the Audit Committee Member
6.5     Appoint Mr. Lee, Kyung Jae as an                              Mgmt          For            *
        Outsider Director who will serve as
        the Audit Committee Member
7.      Approve the cap on the remuneration                           Mgmt        Abstain          *
        of Directors
8.      Amend the regulation on payment of                            Mgmt        Abstain          *
        retirement allowances of Executive
        Directors
9.      Amend the regulation on payment of                            Mgmt        Abstain          *
        retirement allowances of Managed
        Officers

-------------------------------------------------------------------------------------------------------
LG ENGINEERING & CONSTRUCTION CO LTD                                          Agenda: 700457989
     CUSIP: Y5275B105                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 3/17/2004           ISIN: KR7006360002
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

1.      Approve the financial statements, the                         Mgmt          For            *
        disposition of retained earnings and
        the statement of profit and loss
        dividend of KRW 1,250 per common
2.      Elect the Directors                                           Mgmt          For            *
3.      Elect the Members of the Audit                                Mgmt          For            *
        Committee
4.      Approve the limit of remuneration for                         Mgmt          For            *
        the Directors

-------------------------------------------------------------------------------------------------------
SINGAPORE TECHNOLOGIES ENGINEERING LTD                                        Agenda: 700465366
     CUSIP: Y7996W103                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 3/31/2004           ISIN: SG1F60858221
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and adopt the Directors                               Mgmt          For            *
        report and the audited accounts for
        the YE 31 DEC 2003 and the Auditors
        report thereon
2.      Declare a first and final tax                                 Mgmt          For            *
        exemption dividend of 35% and a
        special tax exemption dividend of 78%
        for the YE 31 DEC 2003
3.A.1   Re-elect Mr. Koh Beng Seng as a                               Mgmt          For            *
        Director whom will cease to hold
        office pursuant to Article 104 of the
        Articles of Association of the
3.A.2   Re-elect Mr. MG NG Yat Chung as a                             Mgmt          For            *
        Director whom will cease to hold
        office pursuant to Article 104 of the
        Articles of Association of the
3.A.3   Re-elect Dr. Tan Kim Siew as a                                Mgmt          For            *
        Director whom will cease to hold
        office pursuant to Article 104 of the
        Articles of Association of the
3.B.1   Re-elect Prof. Lui Pao Chuen as a                             Mgmt          For            *
        Director who retires by rotation
        pursuant to Article 98 of the
        Articles of Association of the
3.B.2   Re-elect Mr. Winston Tan Tien Hin as                          Mgmt          For            *
        a Director who retires by rotation
        pursuant to Article 98 of the
        Articles of Association of the
3.C     Approve the retirement of Mr. Tan                             Mgmt          For            *
        Guong Ching as a Director who retires
        by rotation pursuant to Article 98
        of the Articles of Association of the
        Company
4.      Approve the sum of SGD 361,959 as the                         Mgmt          For            *
        Directors fees for the YE 31 DEC

<PAGE>

5.      Re-appoint the Ernst & Young as the                           Mgmt          For            *
        Auditors of the Company and authorise
        the Directors to fix their
6.      Transact any other business                                   Other       Against          *
7.      Authorize the Directors, in                                   Mgmt          For            *
        compliance with the listing manual of
        the Singapore Exchange Securities
        Trading Limited, to issue ordinary
        shares in the capital of the Company
        shares by way of rights, bonus or
        otherwise , and/or make or grant
        offers agreements or options
        instruments that might or would
        require shares to be issued,
        including but not limited to the
        creation and issue of as well as
        adjustments to warrants, debentures
        or other instruments convertible into
        shares at any time and such terms and
        conditions and for such purposes and
        to such persons as the Directors may
        deem fit, the aggregate number of
        shares issued not exceeding 50% of
        the issued share capital of the
        Company, of which the aggregate
        number of shares to be issued other
        than on a pro-rata basis to the
        existing shareholders of the Company
        does not exceed 20% of the issued
        share capital of the Company and the
        percentage of issued share capital
        shall be calculated based on the
        Company s issued share capital at the
        date of passing of this resolution
        after adjusting for new shares
        arising from the conversion or
        exercise of any convertible
        securities or share options or
        vesting of awards which are
        outstanding or subsisting at the time
        this resolution is passed, any
        subsequent consolidation or
        subdivision of shares; Authority
        expires the earlier of the conclusion
        of the next AGM of the Company or
8.      Authorize the Directors to offer and                          Mgmt          For            *
        grant options in accordance with the
        provisions of the Singapore
        Technologies Engineering Shares
        Option Plan Share Option Plan ,
        and/or to grant awards in accordance
        with the provisions of the Singapore
        Technologies Engineering Performance
        Shares Plan Performance Shares Plan ,
        and/or the Singapore Technologies
        Engineering Restricted stock plan

<PAGE>

        Restricted stock plan , the Share
        Option Plan, the Performance Shares
        Plan, the Restricted stock plan,
        together the Share Plans , and to
        allot and issue such number of
        ordinary shares of SGD 0.10 each in
        the Capital of the Company as may be
        required to be issued pursuant to the
        exercise of options under the Share
        Option Plan and/or such number of
        fully paid shares as may be required
        to be issued pursuant to the vesting
        of awards under the Performance
        Shares Plan and/or the Restricted
        stock plan, and the aggregate number
        of ordinary shares to be issued shall
        not exceed 15% of the issued share
        capital of the

-------------------------------------------------------------------------------------------------------
SINGAPORE TECHNOLOGIES ENGINEERING LTD                                        Agenda: 700465291
     CUSIP: Y7996W103                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 3/31/2004           ISIN: SG1F60858221
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Authorize the Directors of the                                Mgmt          For            *
        Company, for the purposes of Sections
        76C and 76E of the Companies Act,
        Chapter 50 of Singapore Companies Act
        to purchase or otherwise acquire
        issued ordinary shares of SGD 0.10
        each fully paid in the capital of the
        Company, not exceeding in aggregate
        10 % of the issued ordinary share
        capital of the Company and 105% of
        the average closing price of the
        ordinary shares, and of an off-market
        purchase of an ordinary share
        pursuant to an Equal Access Scheme,
        110% of the average closing price of
        the ordinary shares, on the Singapore
        Exchange Securities Trading Limited
        SGX-ST , and/or off-market purchases
        if effected otherwise than on the
        SGX-ST in accordance with any Equal
        Access Scheme(s), shall satisfy all
        the conditions specified by the
        Companies Act, means the average of
        the last dealt prices of an ordinary
        share over the previous 5 market days
        on which the ordinary shares are
        transacted on the SGX-ST immediately
        preceding the date of market purchase
        by the Company or, as case may be the
        date of the making of the offer
        pursuant to the off-

<PAGE>

        market purchase, and deemed to be
        adjusted in accordance with the
        Listing Rules of the SGX-ST for any
        corporate action which occurs after
        the relevant five-day period;
        authorize the Directors of the
        Company and/or any of them to do all
        such acts and things as they and/or
        he may consider expedient or
        necessary to give effect to the
        transactions contemplated by this
        Resolution; Authority expires the
        earlier of the date of the next AGM
        of the Company is held, or the date
2.      Authorize the Company, its                                    Mgmt          For            *
        subsidiaries and associated Companies
        that are entities at risk Chapter 9
        or any of them, for the purposes of
        Chapter 9 of the Listing Manual of
        the Singapore Exchange Securities
        Trading Limited SGX-ST , to enter
        into any of the transactions falling
        within the types of interested person
        transactions as specified, with any
        party who is of the class of
        interested persons as specified,
        provided that such transactions are
        made on normal commercial terms and
        in accordance with review procedures
        of such interested person
        transactions, authorize the Directors
        of the Company, to complete and do
        all such acts and things as they may
        consider expedient or necessary or in
        the interests of the Company
        including executing all such
        documents as may be required to give
        effect to the shareholders mandate
        and/or this resolution; Authority
        expires at the conclusion of the next
        AGM of the Company

-------------------------------------------------------------------------------------------------------
SMRT CORPORATION LTD SMRT                                                     Agenda: 700385102
     CUSIP: Y8077D105                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 7/17/2003           ISIN: SG1I86884935
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive an adopt the Directors                                Mgmt          For            *
        report and the audited financial
        statements for the FYE 31 MAR 2003
        together with the Auditors report
2.      Declare a final dividend of 1.78                              Mgmt          For            *
        cents per share, less income tax at
        22% for the FYE 31 MAR 2003
3.      Approve the Directors fees of SGD                             Mgmt          For            *

<PAGE>

        187,344 for the FYE 31 MAR 2003
4.a     Re-elect Mr. Cheah Kean Huat as a                             Mgmt          For            *
        Director, who retires in accordance
        with Article 94 of the Company s
        Articles of Association
4.b.i   Acknowledge the retirement of Mr.                             Mgmt          For            *
        Chew Choon Seng, who retires in
        accordance with Article 94 of the
        Company s Articles of Association
4.bii   Acknowledge the retirement of Mr.                             Mgmt          For            *
        Jimmy Phoon Siew Heng, who retires in
        accordance with Article 94 of the
        Company s Articles of Association
5.a     Re-elect Mr. Choo Chiau Beng as a                             Mgmt          For            *
        Director, who retires in accordance
        with Article 100 of the Company s
        Articles of Association
5.b     Re-elect Mr. Niam Chiang Meng as a                            Mgmt          For            *
        Director, who retires in accordance
        with Article 100 of the Company s
        Articles of Association
5.c     Re-elect Mr. Nithiah Nandan as a                              Mgmt          For            *
        Director, who retires in accordance
        with Article 100 of the Company s
        Articles of Association
5.d     Re-elect Ms. Saw Phaik Hwa as a                               Mgmt          For            *
        Director, who retires in accordance
        with Article 100 of the Company s
        Articles of Association
6.      Re-appoint Messrs KPMG as the                                 Mgmt          For            *
        Auditors of the Company and authorize
        the Directors to fix their
7.      Authorize the Directors to offer and                          Mgmt          For            *
        grant options in accordance with the
        provisions of the SMRT Corporation
        Employee Share Option Plan SMRTC ESOP
        and allot and issue from time to time
        such numbers of shares in the capital
        of the Company as may be required to
        be issued pursuant to the exercise of
        the options under the SMRTC ESOP
        provided always that the aggregate
        number of shares to be issued
        pursuant to the SMRTC ESOP shall not
        exceed 15% of the issued share
        capital of the issued capital of the
        company from time to time
8.      Transact any other business                                   Other         For            *

-------------------------------------------------------------------------------------------------------
SMRT CORPORATION LTD SMRT                                                     Agenda: 700385114
     CUSIP: Y8077D105                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 7/17/2003           ISIN: SG1I86884935
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

2.      Authorize the Directors of the                                Mgmt        Against          *
        Company, in substitution of any
        existing authority, notwithstanding
        the provisions of the Articles of
        Association of the Company, and the
        listing rules of the Singapore
        Exchange Securities Trading Limited
        SGX-ST , to issue shares in the
        capital of the Company by way of
        rights, bonus or otherwise and make
        or grant offers, agreements or
        options that might or would require
        shares to be issued, including but
        not limited to the creation and issue
        of warrants, debentures or other
        instruments convertible into shares
        up to 50% of the issued share capital
        of the Company, of which the
        aggregate number of shares to be
        issued other than on a pro-rata basis
        to shareholders of the Company does
        not exceed 20% of the issued share
        capital of the Company; Authority
        expires the earlier of the conclusion
        of the next AGM or the date of the
3.      Authorize the Company, its                                    Mgmt          For            *
        subsidiaries and associated Companies
        or any one of them, for the purposes
        of Chapter 9 of the Listing Manual
        of the SGX-ST, to enter into any such
        transactions falling within the
        types of interested person
        transactions with any party who is of
        the class of interested persons
        provided that such transactions are
        on normal commercial terms and in
        accordance with the review procedures
        for such interested persons
        transactions, and authorize the
        Directors of the Company to complete
        and do all such acts and things
        deemed necessary to give effect to
        this mandate and/or Resolution;
        Authority expires on the next AGM of
S.1     Amend Articles 4(A), 8(B), 18,                                Mgmt          For            *
        102(B), 108, 122, 138, 148, 149, 150,
        151 and 152 and the heading
        ALTERATION OF ARTICLES before
        Article 152 of the Articles of

-------------------------------------------------------------------------------------------------------
SINGAPORE POST LTD                                                            Agenda: 700399024
     CUSIP: Y8120Z103                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 8/26/2003           ISIN: SG1N89910219
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

        Transact any other business                                   Non-
                                                                     Voting
1.      Receive and adopt the audited                                 Mgmt          For            *
        accounts for the FYE 31 MAR 2003 and
        the Directors report and the
        Auditors report thereon
10.     Approve the Directors fees payable by                         Mgmt          For            *
        the Company of SGD 180,000 for the
        FYE 31 MAR 2003
11.     Appoint the Auditors and authorize                            Mgmt          For            *
        the Directors to fix their
12.     Authorize the Directors, subject to                           Mgmt        Against          *
        the provisions of the Listing Manual
        of the Singapore Exchange Securities
        Trading Limited SGX-ST and the
        Articles of Association of the
        Company to: i) issue shares in the
        capital of the Company by way of
        rights, bonus or otherwise and/or
        make or grant offers, agreements or
        options collectively, Instruments
        that might or would require shares to
        be issued, including but not limited
        to the creation and issue of
        warrants, debentures or other
        instruments convertible into shares;
        and ii) issue shares in pursuance of
        any instrument made or granted by the
        Directors of the Company, the
        aggregate number of shares not
        exceeding 50% of the issued share
        capital of the Company, of which the
        aggregate number of shares to be
        issued other than on a pro-rata basis
        to shareholders of the Company does
        not exceed 20% of the issued share
        capital of the Company, after
        adjusting for: 1) new shares arising
        from the conversion or exercise of
        any convertible securities or share
        options which are outstanding or
        subsisting at the time this
        Resolution is passed; and 2) any
        subsequent consolidation or sub-
        division of shares; Authority
        expires the earlier of the conclusion
        of the next AGM of the Company or

<PAGE>

13.     Authorize the Directors to offer and                          Mgmt          For            *
        grant options Options in accordance
        with the provisions of the Singapore
        Post Share Option Scheme Share
        Option Scheme and allot and issue
        from time to time such number of
        shares as may be required to be
        issued pursuant to the exercise of
        the Options under the Share Option
        Scheme, provided that the aggregate
        number of shares to be issued
        pursuant to the Share Option Scheme
        shall not exceed 10% of the total
        issued share capital of the Company
2.      Declare a final dividend of 5.4 cents                         Mgmt          For            *
        per share less income tax in respect
        of the FYE 31 MAR 2003
3.      Re-elect Mr. Lee Hsien Yang as a                              Mgmt          For            *
        Director, who retires by rotation in
        accordance with Article 91 of the
        Company s Articles of Association
4.      Re-elect Mr. Keith Tay Ah Kee as a                            Mgmt          For            *
        Director, who retires by rotation in
        accordance with Article 91 of the
        Company s Articles of Association
5.      Re-elect Ms. Janet Ang Guat Har as a                          Mgmt          For            *
        Director, who cease to hold office in
        accordance with Article 97 of the
        Company s Articles of Association
6.      Re-elect Mr. Tommie Boh Thiem Poh as                          Mgmt          For            *
        a Director, who cease to hold office
        in accordance with Article 97 of the
        Company s Articles of Association
7.      Re-elect Mrs. Lim Hwee Hua as a                               Mgmt          For            *
        Director, who cease to hold office in
        accordance with Article 97 of the
        Company s Articles of Association
8.      Re-elect Mr. William Tan Soo Hock as                          Mgmt          For            *
        a Director, who cease to hold office
        in accordance with Article 97 of the
        Company s Articles of Association
9.      Re-elect Mr. Kenneth Michael Tan Wee                          Mgmt          For            *
        Khang as a Director, who cease to
        hold office in accordance with
        Article 97 of the Company s Articles
        of Association

-------------------------------------------------------------------------------------------------------
SINGAPORE POST LTD                                                            Agenda: 700398995
     CUSIP: Y8120Z103                         Meeting Type: EGM
    Ticker:                                   Meeting Date: 8/26/2003           ISIN: SG1N89910219
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------

<PAGE>

1.      Authorize the Directors of the                                Mgmt          For            *
        Company, for the purposes of Sections
        76C and 76E of the Companies Act,
        Chapter 50, to purchase or otherwise
        acquire issued ordinary shares of SGD
        0.05 each fully paid in the capital
        of the Company Shares , not exceeding
        in aggregate 10% of the issued
        ordinary share capital of the
        Company, by way of market purchases
        on the Singapore Exchange Securities
        Trading Limited SGX-ST or any other
        stock exchange and/or off-market
        purchases effected otherwise than on
        the SGX-ST in accordance with any
        equal access scheme(s), at a price of
        up to 105% of the average closing
        market prices over the previous 5
        market days in case of market
        purchase and 110% in case of off-
        market purchase and authorize the
        Directors of the Company and/or any
        of them to complete and do all such
        acts and things deemed necessary to
        give effect to this Resolution; and
        Authority expires the earlier of the
        date of the next AGM of the Company
        or the date of the next AGM of the
S.2     Amend Articles 18, 110 and 135 of the                         Mgmt          For            *
        Articles of Association of the

-------------------------------------------------------------------------------------------------------
WING HANG BANK LTD                                                            Agenda: 700477121
     CUSIP: Y9588K109                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/22/2004           ISIN: HK0302001547
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and approve the statement of                          Mgmt       No Action         *
        accounts and the reports of the
        Directors and the Auditors for the YE
        31 DEC 2003
2.      Declare a final dividend                                      Mgmt       No Action         *
3.      Elect the Directors and authorize the                         Mgmt       No Action         *
        Board of Directors to fix Directors
        fees
4.      Re-appoint the Auditors and authorize                         Mgmt       No Action         *
        the Directors to fix their
5.      Approve to adopt a new Employee                               Mgmt       No Action         *
        Incentive Plan
6.      Grant a general mandate to the                                Mgmt       No Action         *
        Directors to issue additional shares
        not exceeding 20% of the issued share
        capital

<PAGE>

7.      Grant a general mandate to the                                Mgmt       No Action         *
        Directors to repurchase shares not
        exceeding 10% of the issued share
        capital
8.      Approve to extend the general mandate                         Mgmt       No Action         *
        under Resolution 6 hereof by
        increasing the number of shares
        permitted to be issued equivalent to
        the number of shares repurchased
        under Resolution 7 hereof
S.9     Amend Articles 2, 17, 78, 90, 101(H)                          Mgmt       No Action         *
        and 143 of the Articles of
        Association of the Bank

-------------------------------------------------------------------------------------------------------
WING LUNG BANK LTD                                                            Agenda: 700459995
     CUSIP: Y95910108                         Meeting Type: AGM
    Ticker:                                   Meeting Date: 4/24/2004           ISIN: HK0096000564
                                                                                            For/Against
Proposal                                                             Type        Vote        Management
-------------------------------------------------------------------------------------------------------
1.      Receive and approve the statement of                          Mgmt          For            *
        accounts and the reports of the
        Directors and the Auditors for the YE
        31 DEC 2003 and declare a final
        dividend
2.      Elect the Directors of the Bank and                           Mgmt          For            *
        fix their fees
3.      Appoint the Auditors of the Bank and                          Mgmt          For            *
        authorize the Directors to fix their
        remuneration
4.      Authorize the Directors to issue                              Mgmt        Against          *
        additional shares not exceeding 20%
        of the issued share capital
5.      Authorize the Directors to repurchase                         Mgmt          For            *
        shares not exceeding 10% of issued
        share capital
6.      Approve to extend the authority under                         Mgmt          For            *
        Resolution 4 by increasing the
        number of shares permitted to be
        issued equivalent to the number of
        shares repurchased under Resolution 5
       *Management position unknown
</TABLE>

<PAGE>

                                   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) CAPITAL INCOME BUILDER, INC.

                         By (Signature) /S/ James B. Lovelace
                                        ---------------------------------
                         Name           James B. Lovelace

                         Title          Chairman and Principal Executive Officer

Date 08-30-2004