--------------------------
                                                              OMB APPROVAL
                                  UNITED STATES       --------------------------
                             SECURITIES AND EXCHANGE  OMB Number:      3235-0582
                                   COMMISSION         Expires:    March 31, 2006
                             Washington, D.C. 20549   Estimated average burden
                                                      hours per response....14.4
                                                      --------------------------
                                    FORM N-PX

               ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
                          MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number  811-7377
                                    --------------------------------------------

                   Morgan Stanley Capital Opportunities Trust
--------------------------------------------------------------------------------
               (Exact name of registrant as specified in charter)


1221 Avenue of the Americas, New York, New York                    10020
--------------------------------------------------------------------------------
(Address of principal executive offices)                         (Zip code)

                                 Barry Fink Esq.

                     Morgan Stanley Investment Advisors Inc.

                           1221 Avenue of the Americas

                            New York, New York 10020
--------------------------------------------------------------------------------
                     (Name and address of agent for service)

Registrant's telephone number, including area code: 800-869-6397
                                                    ------------

Date of fiscal year end:  11/30
                          --------------------

Date of reporting period: 6/30/04
                          --------------------

ITEM 1. PROXY VOTING RECORD.

     Disclose 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.
          ----------------------------------------------------------------------



******************************* FORM N-Px REPORT *******************************

ICA File Number: 811-07377
Reporting Period: 07/01/2003 - 06/30/2004
Morgan Stanley Capital Opportunities Trust









================== MORGAN STANLEY CAPITAL OPPORTUNITIES TRUST ==================


ADOBE SYSTEMS INC.

Ticker:       ADBE           Security ID:  00724F101
Meeting Date: APR 28, 2004   Meeting Type: Annual
Record Date:  MAR 3, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Michael R. Cannon          For       For        Management
1.2   Elect Director Bruce R. Chizen            For       For        Management
1.3   Elect Director James E. Daley             For       For        Management
1.4   Elect Director Charles M. Geschke         For       For        Management
1.5   Elect Director Delbert W. Yocam           For       For        Management
2     Amend Omnibus Stock Plan                  For       For        Management
3     Expense Stock Options                     Against   For        Shareholder
4     Adopt a Plocy that will Committ           Against   For        Shareholder
      Executives to Hold a Significant
      Percentage of their Shares
5     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

AMERITRADE HOLDINGS CORP.

Ticker:       AMTD           Security ID:  03074K100
Meeting Date: FEB 10, 2004   Meeting Type: Annual
Record Date:  DEC 17, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director J. Peter Ricketts          For       Withhold   Management
1.2   Elect Director C. Kevin Landry            For       For        Management
1.3   Elect Director Mark L. Mitchell           For       For        Management
2     Ratify Auditors                           For       For        Management
3     Other Business                            For       Against    Management


--------------------------------------------------------------------------------

AMGEN, INC.

Ticker:       AMGN           Security ID:  031162100
Meeting Date: MAY 13, 2004   Meeting Type: Annual
Record Date:  MAR 19, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Frank J. Biondi, Jr.       For       For        Management
1.2   Elect Director Jerry D. Choate            For       Withhold   Management
1.3   Elect Director Frank C. Herringer         For       For        Management
1.4   Elect Director Gilbert S. Omenn           For       For        Management
2     Ratify Auditors                           For       For        Management
3     Prepare Glass Ceiling Report              Against   Against    Shareholder
4     Expense Stock Options                     Against   For        Shareholder




--------------------------------------------------------------------------------

APOGENT TECHNOLOGIES INC.

Ticker:       AOT            Security ID:  03760A101
Meeting Date: AUG 2, 2004    Meeting Type: Special
Record Date:  MAY 14, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Merger Agreement                  For       For        Management
2     Adjourn Meeting                           For       Against    Management


--------------------------------------------------------------------------------

APPLIED MATERIALS, INC.

Ticker:       AMAT           Security ID:  038222105
Meeting Date: MAR 24, 2004   Meeting Type: Annual
Record Date:  JAN 30, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Michael H. Armacost        For       For        Management
1.2   Elect Director Deborah A. Coleman         For       For        Management
1.3   Elect Director Herbert M. Dwight, Jr.     For       For        Management
1.4   Elect Director Philip V. Gerdine          For       For        Management
1.5   Elect Director Paul R. Low                For       For        Management
1.6   Elect Director Dan Maydan                 For       For        Management
1.7   Elect Director Steven L. Miller           For       For        Management
1.8   Elect Director James C. Morgan            For       For        Management
1.9   Elect Director Gerhard H. Parker          For       For        Management
1.10  Elect Director Michael R. Splinter        For       For        Management
2     Amend Omnibus Stock Plan                  For       For        Management


--------------------------------------------------------------------------------

ARBITRON, INC.

Ticker:       ARB            Security ID:  03875Q108
Meeting Date: MAY 17, 2004   Meeting Type: Annual
Record Date:  APR 2, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Alan Aldworth              For       For        Management
1.2   Elect Director Erica Farber               For       For        Management
1.3   Elect Director Kenneth F. Gorman          For       For        Management
1.4   Elect Director Philip Guarascio           For       For        Management
1.5   Elect Director Larry E. Kittelberger      For       For        Management
1.6   Elect Director Stephen B. Morris          For       For        Management
1.7   Elect Director Luis G. Nogales            For       For        Management
1.8   Elect Director Lawrence Perlman           For       For        Management
1.9   Elect Director Richard A. Post            For       For        Management
2     Amend Omnibus Stock Plan                  For       For        Management




--------------------------------------------------------------------------------

BEA SYSTEMS, INC.

Ticker:       BEAS           Security ID:  073325102
Meeting Date: JUL 11, 2003   Meeting Type: Annual
Record Date:  MAY 27, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director William T. Coleman III     For       For        Management
1.2   Elect Director Dale Crandall              For       For        Management
1.3   Elect Director William H. Janeway         For       For        Management
2     Approve Executive Incentive Bonus Plan    For       For        Management
3     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

BERKSHIRE HATHAWAY INC.

Ticker:       BRK.A          Security ID:  084670207
Meeting Date: MAY 1, 2004    Meeting Type: Annual
Record Date:  MAR 3, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Warren E. Buffett          For       For        Management
1.2   Elect Director Charles T. Munger          For       For        Management
1.3   Elect Director Susan T. Buffett           For       For        Management
1.4   Elect Director Howard G. Buffett          For       For        Management
1.5   Elect Director Malcolm G. Chace           For       For        Management
1.6   Elect Director David S. Gottesman         For       For        Management
1.7   Elect Director Charlotte Guyman           For       For        Management
1.8   Elect Director Donald R. Keough           For       For        Management
1.9   Elect Director Thomas S. Murphy           For       For        Management
1.10  Elect Director Ronald L. Olson            For       For        Management
1.11  Elect Director Walter Scott, Jr.          For       For        Management
2     Report on Political                       Against   Against    Shareholder
      Contributions/Activities


--------------------------------------------------------------------------------

BRASCAN CORP (FORMERLY EDPERBRASCAN CORP.)

Ticker:       BNN.A          Security ID:  10549P606
Meeting Date: APR 30, 2004   Meeting Type: Annual/Special
Record Date:  MAR 19, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Decrease in Size of Board         For       For        Management
2.1   Elect Director James J. Blanchard         For       For        Management
2.2   Elect Director Julia E. Foster            For       For        Management
2.3   Elect Director Philip B. Lind             For       For        Management
2.4   Elect Director Roy MacLaren               For       For        Management
2.5   Elect Director G. Wallace F. McCain       For       For        Management
2.6   Elect Director Jack M. Mintz              For       For        Management
2.7   Elect Director Saul Shulman               For       For        Management
2.8   Elect Director George S. Taylor           For       For        Management
3     Amend Stock Option Plan                   For       For        Management
4     Approve Auditors and Authorize Board to   For       For        Management
      Fix Remuneration of Auditors




--------------------------------------------------------------------------------

C. R. BARD, INC.

Ticker:       BCR            Security ID:  067383109
Meeting Date: APR 21, 2004   Meeting Type: Annual
Record Date:  MAR 1, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Anthony Welters            For       For        Management
1.2   Elect Director Tony L. White              For       For        Management
1.3   Elect Director Theodore E. Martin         For       For        Management
1.4   Elect Director Timothy M. Ring            For       For        Management
2     Approve Omnibus Stock Plan                For       For        Management
3     Amend Executive Incentive Bonus Plan      For       For        Management
4     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

C.H. ROBINSON WORLDWIDE, INC.

Ticker:       CHRW           Security ID:  12541W100
Meeting Date: MAY 20, 2004   Meeting Type: Annual
Record Date:  MAR 22, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director D.R. Verdoorn              For       For        Management
1.2   Elect Director Michael W. Wickham         For       For        Management
2     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

CAREMARK RX, INC.

Ticker:       CMX            Security ID:  141705103
Meeting Date: MAY 4, 2004    Meeting Type: Annual
Record Date:  APR 1, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Edwin M. Banks             For       For        Management
1.2   Elect Director Colleen C. Welch, Ph.D.    For       For        Management
1.3   Elect Director Roger L. Headrick          For       For        Management
1.4   Elect Director Jean-Pierre Millon         For       For        Management




--------------------------------------------------------------------------------

CARNIVAL CORP.

Ticker:       CCL            Security ID:  143658300
Meeting Date: APR 22, 2004   Meeting Type: Annual
Record Date:  FEB 23, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Micky Arison               For       For        Management
1.2   Elect Director Amb Richard G. Capen Jr    For       For        Management
1.3   Elect Director Robert H. Dickinson        For       For        Management
1.4   Elect Director Arnold W. Donald           For       For        Management
1.5   Elect Director Pier Luigi Foschi          For       For        Management
1.6   Elect Director Howard S. Frank            For       For        Management
1.7   Elect Director Baroness Hogg              For       For        Management
1.8   Elect Director A. Kirk Lanterman          For       For        Management
1.9   Elect Director Modesto A. Maidique        For       For        Management
1.10  Elect Director John P. Mcnulty            For       For        Management
1.11  Elect Director Peter Ratcliffe            For       For        Management
1.12  Elect Director Sir John Parker            For       For        Management
1.13  Elect Director Stuart Subotnick           For       For        Management
1.14  Elect Director Uzi Zucker                 For       For        Management
2     Ratify Auditors                           For       For        Management
3     TO AUTHORIZE THE AUDIT COMMITTEE OF       For       For        Management
      CARNIVAL PLC TO AGREE THE REMUNERATION OF
      THE INDEPENDENT AUDITORS.
4     TO RECEIVE THE ACCOUNTS AND REPORTS FOR   For       For        Management
      CARNIVAL PLC FOR THE FINANCIAL PERIOD
      ENDED NOVEMBER 30, 2003.
5     TO APPROVE THE DIRECTORS  REMUNERATION    For       For        Management
      REPORT OF CARNIVAL PLC.
6     TO APPROVE LIMITS ON THE AUTHORITY TO     For       For        Management
      ALLOT SHARES BY CARNIVAL PLC.
7     TO APPROVE THE DISAPPLICATION OF          For       For        Management
      PRE-EMPTION RIGHTS FOR CARNIVAL PLC
      SHARES.


--------------------------------------------------------------------------------

CARTER

Ticker:       CRI            Security ID:  146229109
Meeting Date: MAY 14, 2004   Meeting Type: Annual
Record Date:  MAR 17, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Ross M. Jones              For       For        Management
1.2   Elect Director David Pulver               For       For        Management
2     Amend Omnibus Stock Plan                  For       For        Management
3     Amend Executive Incentive Bonus Plan      For       For        Management


--------------------------------------------------------------------------------

CHICO'S FAS, INC.

Ticker:       CHS            Security ID:  168615102
Meeting Date: JUN 22, 2004   Meeting Type: Annual
Record Date:  APR 26, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Helene B. Gralnick         For       For        Management
1.2   Elect Director Verna K. Gibson            For       For        Management
1.3   Elect Director Betsy S. Atkins            For       For        Management
1.4   Elect Director Scott A. Edmonds           For       For        Management
2     Change Range for Size of the Board        For       For        Management
3     Amend Employee Stock Purchase Plan        For       For        Management
4     Ratify Auditors                           For       For        Management




--------------------------------------------------------------------------------

CLEAR CHANNEL COMMUNICATIONS, INC.

Ticker:       CCU            Security ID:  184502102
Meeting Date: APR 28, 2004   Meeting Type: Annual
Record Date:  MAR 8, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Alan D. Feld               For       Withhold   Management
1.2   Elect Director Thomas O. Hicks            For       For        Management
1.3   Elect Director Perry J. Lewis             For       For        Management
1.4   Elect Director L. Lowry Mays              For       For        Management
1.5   Elect Director Mark P. Mays               For       For        Management
1.6   Elect Director Randall T. Mays            For       For        Management
1.7   Elect Director B.J. Mccombs               For       For        Management
1.8   Elect Director Phyllis B. Riggins         For       For        Management
1.9   Elect Director Theordore H. Strauss       For       For        Management
1.10  Elect Director J.C. Watts                 For       For        Management
1.11  Elect Director John H. Williams           For       For        Management
2     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

COACH, INC.

Ticker:       COH            Security ID:  189754104
Meeting Date: NOV 5, 2003    Meeting Type: Annual
Record Date:  SEP 17, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Joseph Ellis               For       For        Management
1.2   Elect Director Lew Frankfort              For       For        Management
1.3   Elect Director Sally Frame Kasaks         For       For        Management
1.4   Elect Director Gary Loveman               For       For        Management
1.5   Elect Director Irene Miller               For       For        Management
1.6   Elect Director Keith Monda                For       For        Management
1.7   Elect Director Michael Murphy             For       For        Management


--------------------------------------------------------------------------------

COMMONWEALTH TELEPHONE ENTERPRISES, INC.

Ticker:       CTCO           Security ID:  203349105
Meeting Date: SEP 3, 2003    Meeting Type: Annual
Record Date:  JUN 20, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Walter Scott, Jr.          For       For        Management
1.2   Elect Director David C. Mitchell          For       For        Management
1.3   Elect Director David C. McCourt           For       For        Management
1.4   Elect Director Daniel E. Knowles          For       For        Management
2     Ratify Auditors                           For       For        Management
3     Convert Class B common shares into common For       For        Management
      shares
4     Adjourn Meeting                           For       Against    Management




--------------------------------------------------------------------------------

CORPORATE EXECUTIVE BOARD CO. (THE)

Ticker:       EXBD           Security ID:  21988R102
Meeting Date: JUL 28, 2004   Meeting Type: Annual
Record Date:  JUN 23, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director James J. Mcgonigle         For       For        Management
1.2   Elect Director Robert C. Hall             For       For        Management
1.3   Elect Director Nancy J. Karch             For       For        Management
1.4   Elect Director David W. Kenny             For       For        Management
1.5   Elect Director Daniel O. Leemon           For       For        Management
1.6   Elect Director Thomas L. Monahan III      For       For        Management
2     Approve Omnibus Stock Plan                For       For        Management
3     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

CROWN CASTLE INTERNATIONAL CORP.

Ticker:       CCI            Security ID:  228227104
Meeting Date: MAY 26, 2004   Meeting Type: Annual
Record Date:  APR 1, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Randall A. Hack            For       For        Management
1.2   Elect Director Edward C. Hutcheson, Jr.   For       For        Management
1.3   Elect Director J. Landis Martin           For       For        Management
2     Approve Omnibus Stock Plan                For       For        Management
3     Ratify Auditors                           For       For        Management
4     Implement MacBride Principles             Against   Against    Shareholder


--------------------------------------------------------------------------------

DADE BEHRING HLDGS INC

Ticker:       DADE           Security ID:  23342J206
Meeting Date: MAY 26, 2004   Meeting Type: Annual
Record Date:  MAR 30, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director N. Leigh Anderson, Ph.D.   For       For        Management
1.2   Elect Director James G. Andress           For       For        Management
2     Approve Omnibus Stock Plan                For       For        Management



--------------------------------------------------------------------------------

DEVRY INC.

Ticker:       DV             Security ID:  251893103
Meeting Date: NOV 18, 2003   Meeting Type: Annual
Record Date:  SEP 19, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Charles A. Bowsher as      For       For        Management
      Class III Director
1.2   Elect Director Robert C. McCormack as     For       For        Management
      Class III Director
1.3   Elect Director Julia A. McGee as Class    For       For        Management
      III Director
1.4   Elect Director Ronald L. Taylor as Class  For       For        Management
      III Director
1.5   Elect Director Connie R. Curran as Class  For       For        Management
      II Director
2     Approve Stock Option Plan                 For       For        Management
3     Ratify Auditors                           For       For        Management



--------------------------------------------------------------------------------

DOLLAR TREE STORES, INC.

Ticker:       DLTR           Security ID:  256747106
Meeting Date: JUN 17, 2004   Meeting Type: Annual
Record Date:  APR 23, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Change Range for Size of the Board        For       For        Management
2.1   Elect Director H. Ray Compton             For       For        Management
2.2   Elect Director John F. Megrue             For       For        Management
2.3   Elect Director Alan L. Wurtzel            For       For        Management
2.4   Elect Director Bob Sasser                 For       For        Management
2.5   Elect Director Thomas E. Whiddon          For       For        Management
3     Amend Omnibus Stock Plan                  For       For        Management
4     Approve Omnibus Stock Plan                For       For        Management
5     Approve Executive Incentive Bonus Plan    For       For        Management


--------------------------------------------------------------------------------

EBAY INC.

Ticker:       EBAY           Security ID:  278642103
Meeting Date: JUN 24, 2004   Meeting Type: Annual
Record Date:  APR 26, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Philippe Bourguignon       For       For        Management
1.2   Elect Director Thomas J. Tierney          For       For        Management
1.3   Elect Director Margaret C. Whitman        For       For        Management
2     Amend Omnibus Stock Plan                  For       For        Management
3     Amend Stock Option Plan                   For       For        Management
4     Increase Authorized Common Stock          For       Against    Management
5     Ratify Auditors                           For       For        Management
6     Expense Stock Options                     Against   For        Shareholder



--------------------------------------------------------------------------------

ELECTRONIC ARTS, INC.

Ticker:       ERTS           Security ID:  285512109
Meeting Date: JUL 29, 2004   Meeting Type: Annual
Record Date:  JUN 8, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director M. Richard Asher           For       For        Management
1.2   Elect Director William J. Byron           For       For        Management
1.3   Elect Director Leonard S. Coleman         For       For        Management
1.4   Elect Director Gary M. Kusin              For       For        Management
1.5   Elect Director Gregory B. Maffei          For       For        Management
1.6   Elect Director Timothy Mott               For       For        Management
1.7   Elect Director Robert W. Pittman          For       For        Management
1.8   Elect Director Lawrence F. Probst III     For       For        Management
1.9   Elect Director Linda J. Srere             For       For        Management
2     Amend Omnibus Stock Plan                  For       For        Management
3     Amend Employee Stock Purchase Plan        For       For        Management
4     Amend Articles to Consolidate Common      For       For        Management
      Stock
5     Increase Authorized Common Stock          For       For        Management
6     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

ELECTRONIC ARTS, INC.

Ticker:       ERTS           Security ID:  285512109
Meeting Date: JUL 31, 2003   Meeting Type: Annual
Record Date:  JUN 4, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director M. Richard Asher           For       For        Management
1.2   Elect Director William J. Byron           For       For        Management
1.3   Elect Director Leonard S. Coleman         For       For        Management
1.4   Elect Director Gary M. Kusin              For       For        Management
1.5   Elect Director Gregory B. Maffei          For       For        Management
1.6   Elect Director Timothy Mott               For       For        Management
1.7   Elect Director Lawrence F. Probst III     For       For        Management
1.8   Elect Director Linda J. Srere             For       For        Management
2     Amend Omnibus Stock Plan                  For       For        Management
3     Amend Employee Stock Purchase Plan        For       For        Management
4     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

EMULEX CORP.

Ticker:       ELX            Security ID:  292475209
Meeting Date: NOV 20, 2003   Meeting Type: Annual
Record Date:  OCT 1, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Fred B. Cox                For       For        Management
1.2   Elect Director Michael P. Downey          For       For        Management
1.3   Elect Director Bruce C. Edwards           For       For        Management
1.4   Elect Director Paul F. Folino             For       For        Management
1.5   Elect Director Robert H. Goon             For       For        Management
1.6   Elect Director Don M. Lyle                For       For        Management
2     Approve Option Exchange Program           For       For        Management
3     Ratify Auditors                           For       For        Management



--------------------------------------------------------------------------------

ESPEED INC

Ticker:       ESPD           Security ID:  296643109
Meeting Date: OCT 22, 2003   Meeting Type: Annual
Record Date:  SEP 9, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Howard W. Lutnick          For       Withhold   Management
1.2   Elect Director Lee M. Amaitis             For       Withhold   Management
1.3   Elect Director Joseph C. Noviello         For       Withhold   Management
1.4   Elect Director Stephen M. Merkel          For       Withhold   Management
1.5   Elect Director John H. Dalton             For       For        Management
1.6   Elect Director William J. Moran           For       For        Management
1.7   Elect Director Albert M. Weis             For       For        Management
1.8   Elect Director Henry (Hank) Morris        For       For        Management
2     Approve Executive Incentive Bonus Plan    For       For        Management
3     Amend Omnibus Stock Plan                  For       Against    Management


--------------------------------------------------------------------------------

GLOBAL PAYMENTS, INC.

Ticker:       GPN            Security ID:  37940X102
Meeting Date: OCT 22, 2003   Meeting Type: Annual
Record Date:  AUG 25, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Raymond L. Killian, Jr. as For       For        Management
      Class I Director
1.2   Elect Director Michael W. Trapp as Class  For       For        Management
      II Director
1.3   Elect Director Gerald J. Wilkins as Class For       For        Management
      II Director
1.4   Elect Director Alex W. Hart as Class III  For       For        Management
      Director
1.5   Elect Director William I. Jacobs as Class For       For        Management
      III Director
1.6   Elect Director Gillian H. Denham as Class For       For        Management
      III Director
1.7   Elect Director Alan M. Silberstein as     For       For        Management
      Class III Director


--------------------------------------------------------------------------------

GTECH HOLDINGS CORP.

Ticker:       GTK            Security ID:  400518106
Meeting Date: AUG 2, 2004    Meeting Type: Annual
Record Date:  JUN 11, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Christine M. Cournoyer     For       For        Management
1.2   Elect Director Robert M. Dewey, Jr.       For       For        Management
1.3   Elect Director Philip R. Lochner, Jr.     For       For        Management
2     Approve Employee Stock Purchase Plan      For       For        Management
3     Increase Authorized Common Stock          For       For        Management
4     Ratify Auditors                           For       For        Management




--------------------------------------------------------------------------------

GTECH HOLDINGS CORP.

Ticker:       GTK            Security ID:  400518106
Meeting Date: AUG 4, 2003    Meeting Type: Annual
Record Date:  JUN 13, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Burnett W. Donoho          For       For        Management
1.2   Elect Director James F. McCann            For       For        Management
1.3   Elect Director W. Bruce Turner            For       For        Management
2     Approve Executive Incentive Bonus Plan    For       For        Management
3     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

GUIDANT CORP.

Ticker:       GDT            Security ID:  401698105
Meeting Date: MAY 18, 2004   Meeting Type: Annual
Record Date:  MAR 11, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Maurice A. Cox, Jr.        For       For        Management
1.2   Elect Director Nancy-Ann Min DeParle      For       For        Management
1.3   Elect Director Ronald W. Dollens          For       For        Management
1.4   Elect Director Enrique C. Falla           For       For        Management
1.5   Elect Director Kristina M. Johnson,       For       For        Management
      Ph.D.
2     Ratify Auditors                           For       For        Management
3     Expense Stock Options                     Against   For        Shareholder


--------------------------------------------------------------------------------

HARMAN INTERNATIONAL INDUSTRIES, INC.

Ticker:       HAR            Security ID:  413086109
Meeting Date: NOV 12, 2003   Meeting Type: Annual
Record Date:  SEP 15, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Edward H. Meyer            For       For        Management
1.2   Elect Director Gregory P. Stapleton       For       For        Management
1.3   Elect Director Stanley A. Weiss           For       For        Management
2     Approve Stock Split                       For       For        Management




--------------------------------------------------------------------------------

IAC / INTERACTIVECORP

Ticker:       IACI           Security ID:  45840Q101
Meeting Date: JUN 23, 2004   Meeting Type: Annual
Record Date:  APR 29, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Richard N. Barton          For       For        Management
1.2   Elect Director Robert R. Bennett          For       For        Management
1.3   Elect Director Edgar Bronfman, Jr.        For       For        Management
1.4   Elect Director Barry Diller               For       For        Management
1.5   Elect Director Victor A. Kaufman          For       For        Management
1.6   Elect Director Donald R. Keough           For       For        Management
1.7   Elect Director Marie-Josee Kravis         For       For        Management
1.8   Elect Director John C. Malone             For       For        Management
1.9   Elect Director Steven Rattner             For       For        Management
1.10  Elect Director Gen. H.N. Schwarzkopf      For       For        Management
1.11  Elect Director Alan G. Spoon              For       For        Management
1.12  Elect Director Diane Von Furstenberg      For       For        Management
2     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

IDT CORP.

Ticker:       IDT.C          Security ID:  448947309
Meeting Date: DEC 15, 2003   Meeting Type: Annual
Record Date:  OCT 20, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Moshe Kaganoff             For       For        Management
1.2   Elect Director James S. Gilmore, III      For       For        Management
1.3   Elect Director Jack F. Kemp               For       Withhold   Management
1.4   Elect Director Admiral William A. Owens   For       For        Management
2     Amend Omnibus Stock Plan                  For       For        Management
3     Approve Employee Stock Purchase Plan      For       For        Management
4     Approve Stock Award to Executive          For       For        Management
5     Ratify Auditors                           For       For        Management


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IMAGISTICS INTERNATIONAL INC

Ticker:       IGI            Security ID:  45247T104
Meeting Date: MAY 11, 2004   Meeting Type: Annual
Record Date:  MAR 15, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director T. Kevin Dunnigan          For       For        Management
1.2   Elect Director James A. Thomas            For       For        Management
1.3   Elect Director Ronald L. Turner           For       For        Management
2     Ratify Auditors                           For       For        Management




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INAMED CORP.

Ticker:       IMDC           Security ID:  453235103
Meeting Date: MAY 27, 2004   Meeting Type: Annual
Record Date:  APR 12, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Nicholas L. Teti           For       For        Management
1.2   Elect Director James E. Bolin             For       For        Management
1.3   Elect Director Malcolm R. Currie, Ph.D.   For       Withhold   Management
1.4   Elect Director John C. Miles II           For       For        Management
1.5   Elect Director Mitchell S. Rosenthal,     For       For        Management
      M.D.
1.6   Elect Director Joy A. Amundson            For       For        Management
1.7   Elect Director Terry E. Vandewarker       For       For        Management
2     Increase Authorized Common Stock          For       For        Management
3     Approve Stock Option Plan                 For       For        Management
4     Amend Restricted Stock Plan               For       For        Management
5     Ratify Auditors                           For       For        Management
6     Other Business                            For       Against    Management


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INTEGRATED CIRCUIT SYSTEMS, INC.

Ticker:       ICST           Security ID:  45811K208
Meeting Date: OCT 29, 2003   Meeting Type: Annual
Record Date:  SEP 19, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Hock E. Tan                For       For        Management
1.2   Elect Director Nam P. Suh, Ph.D.          For       For        Management


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INTERACTIVE DATA CORPORATION

Ticker:       IDC            Security ID:  45840J107
Meeting Date: MAY 20, 2004   Meeting Type: Annual
Record Date:  APR 1, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Stuart J. Clark            For       Withhold   Management
1.2   Elect Director William T. Ethridge        For       Withhold   Management
1.3   Elect Director John Fallon                For       Withhold   Management
1.4   Elect Director William B. Gauld           For       Withhold   Management
1.5   Elect Director Donald P. Greenberg        For       For        Management
1.6   Elect Director Alan J. Hirschfield        For       Withhold   Management
1.7   Elect Director Philip J. Hoffman          For       Withhold   Management
1.8   Elect Director John C. Makinson           For       Withhold   Management
1.9   Elect Director Carl Spielvogel            For       For        Management
1.10  Elect Director Allan R. Tessler           For       Withhold   Management
2     Ratify Auditors                           For       For        Management




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INTERNATIONAL GAME TECHNOLOGY

Ticker:       IGT            Security ID:  459902102
Meeting Date: MAR 2, 2004    Meeting Type: Annual
Record Date:  JAN 2, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director G. Thomas Baker            For       For        Management
1.2   Elect Director Neil Barsky                For       For        Management
1.3   Elect Director Robert A. Bittman          For       For        Management
1.4   Elect Director Richard R. Burt            For       For        Management
1.5   Elect Director Leslie S. Heisz            For       For        Management
1.6   Elect Director Robert A. Mathewson        For       For        Management
1.7   Elect Director Thomas J. Matthews         For       For        Management
1.8   Elect Director Robert Miller              For       For        Management
1.9   Elect Director Frederick B. Rentschler    For       For        Management
2     Amend Employee Stock Purchase Plan        For       For        Management
3     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

IRON MOUNTAIN INC.

Ticker:       IRM            Security ID:  462846106
Meeting Date: MAY 27, 2004   Meeting Type: Annual
Record Date:  APR 5, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Clarke H. Bailey           For       For        Management
1.2   Elect Director Constantin R. Boden        For       For        Management
1.3   Elect Director Kent P. Dauten             For       For        Management
1.4   Elect Director B. Thomas Golisano         For       For        Management
1.5   Elect Director John F. Kenny, Jr.         For       For        Management
1.6   Elect Director Arthur D. Little           For       For        Management
1.7   Elect Director C. Richard Reese           For       For        Management
1.8   Elect Director Vincent J. Ryan            For       For        Management
2     Increase Authorized Common Stock          For       For        Management
3     Amend Omnibus Stock Plan                  For       For        Management


--------------------------------------------------------------------------------

ITT EDUCATIONAL SERVICES, INC.

Ticker:       ESI            Security ID:  45068B109
Meeting Date: MAY 4, 2004    Meeting Type: Annual
Record Date:  MAR 5, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Rene R. Champagne          For       For        Management
1.2   Elect Director John F. Cozzi              For       For        Management
1.3   Elect Director James D. Fowler, Jr.       For       For        Management
1.4   Elect Director Harris N. Miller           For       For        Management
2     Increase Authorized Common Stock          For       Against    Management



--------------------------------------------------------------------------------

JDS UNIPHASE CORP.

Ticker:       JDSU           Security ID:  46612J101
Meeting Date: NOV 6, 2003    Meeting Type: Annual
Record Date:  SEP 15, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Robert E. Enos             For       For        Management
1.2   Elect Director Peter A. Guglielmi         For       For        Management
2     Approve Omnibus Stock Plan                For       For        Management
3     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

JUNIPER NETWORKS, INC.

Ticker:       JNPR           Security ID:  48203R104
Meeting Date: MAY 19, 2004   Meeting Type: Annual
Record Date:  MAR 22, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Pradeep Sindhu             For       For        Management
1.2   Elect Director Robert M. Calderoni        For       For        Management
1.3   Elect Director Kenneth Levy               For       Withhold   Management
2     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

JUNIPER NETWORKS, INC.

Ticker:       JNPR           Security ID:  48203R104
Meeting Date: APR 16, 2004   Meeting Type: Special
Record Date:  MAR 10, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Issue Shares in Connection with an        For       For        Management
      Acquisition





--------------------------------------------------------------------------------

KLA-TENCOR CORP.

Ticker:       KLAC           Security ID:  482480100
Meeting Date: NOV 5, 2003    Meeting Type: Annual
Record Date:  SEP 15, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.a   Elect Director H. Raymond Bingham         For       For        Management
1.b   Elect Director Robert T. Bond             For       For        Management
1.c   Elect Director Richard J. Elkus, Jr.      For       For        Management
1.d   Elect Director Michael E. Marks           For       For        Management
2     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

LAM RESEARCH CORP.

Ticker:       LRCX           Security ID:  512807108
Meeting Date: NOV 6, 2003    Meeting Type: Annual
Record Date:  SEP 12, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director James W. Bagley            For       For        Management
1.2   Elect Director David G. Arscott           For       For        Management
1.3   Elect Director Robert M. Berdahl          For       For        Management
1.4   Elect Director Richard J. Elkus, Jr.      For       For        Management
1.5   Elect Director Jack R. Harris             For       For        Management
1.6   Elect Director Grant M. Inman             For       For        Management
2     Amend Employee Stock Purchase Plan        For       For        Management
3     Approve Executive Incentive Bonus Plan    For       For        Management
4     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

LEXMARK INTERNATIONAL, INC.

Ticker:       LXK            Security ID:  529771107
Meeting Date: APR 22, 2004   Meeting Type: Annual
Record Date:  MAR 5, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Frank T. Cary              For       For        Management
1.2   Elect Director Paul J. Curlander          For       For        Management
1.3   Elect Director Martin D. Walker           For       For        Management
1.4   Elect Director James F. Hardymon          For       For        Management
2     Approve Executive Incentive Bonus Plan    For       For        Management
3     Ratify Auditors                           For       For        Management




--------------------------------------------------------------------------------

LINEAR TECHNOLOGY CORP.

Ticker:       LLTC           Security ID:  535678106
Meeting Date: NOV 5, 2003    Meeting Type: Annual
Record Date:  SEP 8, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Robert H. Swanson, Jr.     For       For        Management
1.2   Elect Director David S. Lee               For       For        Management
1.3   Elect Director Leo T. McCarthy            For       For        Management
1.4   Elect Director Richard M. Moley           For       For        Management
1.5   Elect Director Thomas S. Volpe            For       For        Management
2     Ratify Auditors                           For       For        Management


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MARVELL TECHNOLOGY GROUP LTD

Ticker:       MRVL           Security ID:  G5876H105
Meeting Date: MAY 28, 2004   Meeting Type: Annual
Record Date:  APR 14, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Dr. John M. Cioffi, Phd    For       For        Management
1.2   Elect Director Dr. Paul R. Gray, Ph.D.    For       For        Management
1.3   Elect Director Douglas King               For       For        Management
2     Ratify Auditors                           For       For        Management
3     TO AUTHORIZE THE BOARD OF DIRECTORS TO    For       For        Management
      FIX THE AUDITORS REMUNERATION FOR THE
      2005 FISCAL YEAR ENDING JANUARY 29, 2005.
4     TO APPROVE AN INCREASE TO THE COMPANY S   For       For        Management
      AUTHORIZED SHARE CAPITAL.


--------------------------------------------------------------------------------

MCAFEE INC.

Ticker:       MFE            Security ID:  640938106
Meeting Date: DEC 16, 2003   Meeting Type: Annual
Record Date:  NOV 13, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Leslie Denend              For       For        Management
1.2   Elect Director George Samenuk             For       For        Management
2     Amend Omnibus Stock Plan                  For       For        Management
3     Amend Non-Employee Director Stock Option  For       For        Management
      Plan
4     Amend Employee Stock Purchase Plan        For       For        Management
5     Ratify Auditors                           For       For        Management




--------------------------------------------------------------------------------

MEDIA GENERAL, INC.

Ticker:       MEG            Security ID:  584404107
Meeting Date: APR 29, 2004   Meeting Type: Annual
Record Date:  MAR 5, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Charles A. Davis           For       For        Management
1.2   Elect Director C. Boyden Gray             For       For        Management
1.3   Elect Director Walter E. Williams         For       For        Management


--------------------------------------------------------------------------------

MERCURY INTERACTIVE CORP.

Ticker:       MERQ           Security ID:  589405109
Meeting Date: MAY 19, 2004   Meeting Type: Annual
Record Date:  MAR 22, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Amnon Landan               For       For        Management
1.2   Elect Director Igal Kohavi                For       For        Management
1.3   Elect Director Clyde Ostler               For       For        Management
1.4   Elect Director Yair Shamir                For       For        Management
1.5   Elect Director Giora Yaron                For       For        Management
1.6   Elect Director Anthony Zingale            For       For        Management
2     Increase Authorized Common Stock          For       For        Management
3     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

MERCURY INTERACTIVE CORP.

Ticker:       MERQ           Security ID:  589405109
Meeting Date: DEC 10, 2003   Meeting Type: Special
Record Date:  OCT 31, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Amend Stock Option Plan                   For       For        Management
2     Amend Employee Stock Purchase Plan        For       For        Management




--------------------------------------------------------------------------------

MICROSOFT CORP.

Ticker:       MSFT           Security ID:  594918104
Meeting Date: NOV 11, 2003   Meeting Type: Annual
Record Date:  SEP 12, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director William H. Gates, III      For       For        Management
1.2   Elect Director Steven A. Ballmer          For       For        Management
1.3   Elect Director James I. Cash, Jr., Ph.D.  For       For        Management
1.4   Elect Director Raymond V. Gilmartin       For       For        Management
1.5   Elect Director Ann McLaughlin Korologos   For       For        Management
1.6   Elect Director David F. Marquardt         For       For        Management
1.7   Elect Director Charles H. Noski           For       For        Management
1.8   Elect Director Dr. Helmut Panke           For       For        Management
1.9   Elect Director Wm. G. Reed, Jr.           For       For        Management
1.10  Elect Director Jon A. Shirley             For       For        Management
2     Amend Omnibus Stock Plan                  For       For        Management
3     Amend Non-Employee Director Stock Option  For       For        Management
      Plan
4     Refrain from Giving Charitable            Against   Against    Shareholder
      Contributions


--------------------------------------------------------------------------------

NETWORK APPLIANCE, INC.

Ticker:       NTAP           Security ID:  64120L104
Meeting Date: SEP 2, 2003    Meeting Type: Annual
Record Date:  JUL 7, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Daniel J. Warmenhoven      For       For        Management
1.2   Elect Director Donald T. Valentine        For       For        Management
1.3   Elect Director Sanjiv Ahuja               For       For        Management
1.4   Elect Director Carol A. Bartz             For       For        Management
1.5   Elect Director Michael R. Hallman         For       For        Management
1.6   Elect Director Nicholas G. Moore          For       For        Management
1.7   Elect Director Dr. Sachio Semmoto         For       For        Management
1.8   Elect Director Robert T. Wall             For       For        Management
2     Amend Omnibus Stock Plan                  For       Against    Management
3     Amend Employee Stock Purchase Plan        For       For        Management
4     Ratify Auditors                           For       For        Management
5     Other Business                            For       For        Management


--------------------------------------------------------------------------------

NEWMONT MINING CORP. (HOLDING COMPANY)

Ticker:       NEM            Security ID:  651639106
Meeting Date: APR 28, 2004   Meeting Type: Annual
Record Date:  MAR 2, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Glen A. Barton             For       For        Management
1.2   Elect Director Vincent A. Calarco         For       For        Management
1.3   Elect Director Michael S. Hamson          For       For        Management
1.4   Elect Director Leo I. Higdon, Jr.         For       For        Management
1.5   Elect Director Pierre Lassonde            For       For        Management
1.6   Elect Director Robert J. Miller           For       For        Management
1.7   Elect Director Wayne W. Murdy             For       For        Management
1.8   Elect Director Robin A. Plumbridge        For       For        Management
1.9   Elect Director John B. Prescott           For       For        Management
1.10  Elect Director Michael K. Reilly          For       For        Management
1.11  Elect Director Seymour Schulich           For       For        Management
1.12  Elect Director James V. Taranik           For       For        Management
2     Ratify Auditors                           For       For        Management
3     Submit Shareholder Rights Plan (Poison    Against   For        Shareholder
      Pill) to Shareholder Vote




--------------------------------------------------------------------------------

NOVELL, INC.

Ticker:       NOVL           Security ID:  670006105
Meeting Date: APR 15, 2004   Meeting Type: Annual
Record Date:  FEB 20, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Albert Aiello              For       For        Management
1.2   Elect Director Fred Corrado               For       For        Management
1.3   Elect Director Richard L. Crandall        For       For        Management
1.4   Elect Director Wayne Mackie               For       For        Management
1.5   Elect Director Claudia B. Malone          For       For        Management
1.6   Elect Director Jack L. Messman            For       For        Management
1.7   Elect Director Richard L. Nolan           For       For        Management
1.8   Elect Director Thomas G. Plaskett         For       For        Management
1.9   Elect Director John W. Poduska, Sr.       For       For        Management
1.10  Elect Director James D. Robinson, III     For       For        Management
1.11  Elect Director Kathy Brittain White       For       For        Management
2     Expense Stock Options                     Against   For        Shareholder
3     Performance-Based/Indexed Options         Against   For        Shareholder
4     Prohibit Auditor from Providing Non-Audit Against   Against    Shareholder
      Services


--------------------------------------------------------------------------------

NPS PHARMACEUTICALS, INC.

Ticker:       NPSP           Security ID:  62936P103
Meeting Date: AUG 21, 2003   Meeting Type: Annual
Record Date:  JUL 21, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Santo J. Costa, J.D.       For       For        Management
1.2   Elect Director John R. Evans, M.D.        For       For        Management
1.3   Elect Director James G. Groninger         For       Withhold   Management
1.4   Elect Director Hunter Jackson, Ph.D.      For       Withhold   Management
1.5   Elect Director Joseph Klein, III          For       For        Management
1.6   Elect Director Donald E. Kuhla, Ph.D.     For       For        Management
1.7   Elect Director Thomas N. Parks, Ph.D.     For       For        Management
1.8   Elect Director Calvin R. Stiller, M.D.    For       For        Management
1.9   Elect Director Peter G. Tombros           For       For        Management
2     Increase Authorized Common Stock          For       Against    Management
3     Amend Stock Option Plan                   For       For        Management
4     Amend Employee Stock Purchase Plan        For       For        Management
5     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

NTL INCORPORATED

Ticker:       NTLI           Security ID:  62940M104
Meeting Date: MAY 6, 2004    Meeting Type: Annual
Record Date:  MAR 22, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Jeffrey D. Benjamin        For       For        Management
1.2   Elect Director David Elstein              For       For        Management
2     Ratify Auditors                           For       For        Management
3     Amend Omnibus Stock Plan                  For       For        Management
4     Approve Executive Incentive Bonus Plan    For       For        Management
5     Approve Share Plan Grant                  For       For        Management




--------------------------------------------------------------------------------

OMNIVISION TECHNOLOGIES, INC.

Ticker:       OVTI           Security ID:  682128103
Meeting Date: OCT 1, 2003    Meeting Type: Annual
Record Date:  AUG 28, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Elect Director Joseph Jeng                For       For        Management
2     Ratify Auditors                           For       For        Management
3     Amend Stock Option Plan                   For       Against    Management
4     Amend Stock Option Plan                   For       For        Management


--------------------------------------------------------------------------------

P.F. CHANG'S CHINA BISTRO INC

Ticker:       PFCB           Security ID:  69333Y108
Meeting Date: APR 23, 2004   Meeting Type: Annual
Record Date:  FEB 27, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Richard L. Federico        For       Did Not    Management
                                                          Vote
1.2   Elect Director R. Michael Welborn         For       Did Not    Management
                                                          Vote
1.3   Elect Director James D. Shennan, Jr.      For       Did Not    Management
                                                          Vote
1.4   Elect Director F. Lane Cardwell, Jr.      For       Did Not    Management
                                                          Vote
1.5   Elect Director Kenneth J. Wessels         For       Did Not    Management
                                                          Vote
1.6   Elect Director M. Ann Rhoades             For       Did Not    Management
                                                          Vote
1.7   Elect Director Lesley H. Howe             For       Did Not    Management
                                                          Vote
2     Ratify Auditors                           For       Did Not    Management
                                                          Vote
3     Amend Stock Option Plan                   For       Did Not    Management
                                                          Vote
4     Adjourn Meeting                           For       Did Not    Management
                                                          Vote


--------------------------------------------------------------------------------

PIXAR, INC.

Ticker:       PIXR           Security ID:  725811103
Meeting Date: SEP 5, 2003    Meeting Type: Annual
Record Date:  JUL 23, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Steve Jobs                 For       For        Management
1.2   Elect Director Dr. Edwin E. Catmull       For       For        Management
1.3   Elect Director Skip M. Brittenham         For       For        Management
1.4   Elect Director Joseph A. Graziano         For       For        Management
1.5   Elect Director Lawrence B. Levy           For       For        Management
1.6   Elect Director Joe Roth                   For       For        Management
1.7   Elect Director Larry W. Sonsini           For       For        Management
1.8   Elect Director John S. Wadsworth, Jr.     For       For        Management
2     Ratify Auditors                           For       For        Management




--------------------------------------------------------------------------------

PLUM CREEK TIMBER COMPANY, INC.

Ticker:       PCL            Security ID:  729251108
Meeting Date: MAY 4, 2004    Meeting Type: Annual
Record Date:  MAR 15, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Rick R. Holley             For       For        Management
1.2   Elect Director Ian B. Davidson            For       For        Management
1.3   Elect Director Robin Josephs              For       For        Management
1.4   Elect Director David D. Leland            For       Withhold   Management
1.5   Elect Director John G. McDonald           For       For        Management
1.6   Elect Director Hamid R. Moghadam          For       For        Management
1.7   Elect Director John H. Scully             For       For        Management
1.8   Elect Director Stephen C. Tobias          For       For        Management
1.9   Elect Director Carl B. Webb               For       For        Management
2     Amend Omnibus Stock Plan                  For       For        Management
3     Ratify Auditors                           For       For        Management
4     Endorse CERES Principles                  Against   Against    Shareholder


--------------------------------------------------------------------------------

QLOGIC CORP.

Ticker:       QLGC           Security ID:  747277101
Meeting Date: AUG 26, 2003   Meeting Type: Annual
Record Date:  JUL 1, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director H.K. Desai                 For       For        Management
1.2   Elect Director Larry R. Carter            For       For        Management
1.3   Elect Director James R. Fiebiger          For       For        Management
1.4   Elect Director Balakrishnan S. Iyer       For       For        Management
1.5   Elect Director Carol L. Miltner           For       For        Management
1.6   Elect Director George D. Wells            For       For        Management
2     Amend Omnibus Stock Plan                  For       For        Management
3     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

QUALCOMM INC.

Ticker:       QCOM           Security ID:  747525103
Meeting Date: MAR 2, 2004    Meeting Type: Annual
Record Date:  JAN 2, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Adelia A. Coffman          For       Withhold   Management
1.2   Elect Director Raymond V. Dittamore       For       For        Management
1.3   Elect Director Irwin Mark Jacobs          For       For        Management
1.4   Elect Director Richard Sulpizio           For       For        Management
2     Amend Stock Option Plan                   For       For        Management
3     Ratify Auditors                           For       For        Management
4     Declassify the Board of Directors         Against   Against    Shareholder




--------------------------------------------------------------------------------

RINKER GROUP LTD

Ticker:                      Security ID:  76687M101
Meeting Date: JUL 20, 2004   Meeting Type: Annual
Record Date:  JUN 8, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     TO RECEIVE AND CONSIDER THE FINANCIAL     For       For        Management
      REPORT AND OTHER REPORTS.
2     TO ADOPT THE REMUNERATION REPORT.         For       For        Management
3     TO RE-ELECT MR JOHN MORSCHEL AS A         For       For        Management
      DIRECTOR.
4     TO ELECT MR JOHN INGRAM AS A DIRECTOR.    For       For        Management
5     TO INCREASE THE MAXIMUM AGGREGATE         For       For        Management
      REMUNERATION OF NON-EXECUTIVE DIRECTORS.


--------------------------------------------------------------------------------

ROYAL CARIBBEAN CRUISES  LTD.

Ticker:       RCL            Security ID:  V7780T103
Meeting Date: MAY 25, 2004   Meeting Type: Annual
Record Date:  MAR 26, 2004

#     Proposal                                   Mgt Rec  Vote Cast  Sponsor
1.1   Elect Director Tor B. Arneberg             For      For        Management
1.2   Elect Director William L. Kimsey           For      For        Management
1.3   Elect Director Gert W. Munthe              For      For        Management
1.4   Elect Director Thomas J. Pritzker          For      For        Management
2     APPROVAL OF THE AMENDED AND RESTATED 2000  For      For        Management
      STOCK AWARD PLAN.
3     RATIFICATION OF APPOINTMENT OF             For      For        Management
      PRICEWATERHOUSECOOPERS LLP AS THE COMPANY
      S INDEPENDENT ACCOUNTANTS FOR 2004.


--------------------------------------------------------------------------------

SEAGATE TECHNOLOGY

Ticker:       STX            Security ID:  G7945J104
Meeting Date: OCT 29, 2003   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1-01  Elect David Bonderman as Director         For       For        Management
1-02  Elect William W. Bradley as Director      For       For        Management
1-03  Elect James G. Coulter as Director        For       For        Management
1-04  Elect James A. Davidson as Director       For       For        Management
1-05  Elect Glenn H. Hutchins as Director       For       For        Management
1-06  Elect Donald E. Kiernan as Director       For       For        Management
1-07  Elect Stephen J. Luczo as Director        For       For        Management
1-08  Elect David F. Marquardt as Director      For       For        Management
1-09  Elect John W. Thompson as Director        For       For        Management
1-10  Elect William D. Watkins as Director      For       For        Management
1-11  Elect Edward J. Zander as Director        For       For        Management
2     Approve Section 162(m) Incentive Bonus    For       For        Management
      Plan
3     Ratify Ernst & Young LLP as Auditors      For       For        Management




--------------------------------------------------------------------------------

SMITH INTERNATIONAL, INC.

Ticker:       SII            Security ID:  832110100
Meeting Date: APR 20, 2004   Meeting Type: Annual
Record Date:  FEB 27, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director James R. Gibbs             For       For        Management
1.2   Elect Director Jerry W. Neely             For       For        Management
2     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

SONIC CORP.

Ticker:       SONC           Security ID:  835451105
Meeting Date: JAN 21, 2004   Meeting Type: Annual
Record Date:  NOV 28, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director J. Clifford Hudson         For       For        Management
1.2   Elect Director Robert M. Rosenberg        For       For        Management
1.3   Elect Director Federico F. Pena           For       For        Management
2     Other Business                            For       Against    Management


--------------------------------------------------------------------------------

STATION CASINOS, INC.

Ticker:       STN            Security ID:  857689103
Meeting Date: MAY 19, 2004   Meeting Type: Annual
Record Date:  MAR 26, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Lorenzo J. Fertitta        For       Withhold   Management
1.2   Elect Director Blake L. Sartini           For       Withhold   Management
1.3   Elect Director James E. Nave, D.V.M.      For       For        Management
2     Approve Executive Incentive Bonus Plan    For       For        Management
3     Ratify Auditors                           For       For        Management
4     Other Business                            For       Against    Management


--------------------------------------------------------------------------------

STERICYCLE, INC.

Ticker:       SRCL           Security ID:  858912108
Meeting Date: MAY 11, 2004   Meeting Type: Annual
Record Date:  MAR 15, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Jack W. Schuler            For       For        Management
1.2   Elect Director Mark C. Miller             For       For        Management
1.3   Elect Director John P. Connaughton        For       For        Management
1.4   Elect Director Rod F. Dammeyer            For       For        Management
1.5   Elect Director Patrick F. Graham          For       For        Management
1.6   Elect Director John Patience              For       For        Management
1.7   Elect Director Thomas R. Reusche          For       For        Management
1.8   Elect Director Peter Vardy                For       For        Management
1.9   Elect Director L. John Wilkerson, Ph.D .  For       For        Management
2     Ratify Auditors                           For       For        Management
3     Report on Waste Incineration              Against   Against    Shareholder




--------------------------------------------------------------------------------

SYMANTEC CORP.

Ticker:       SYMC           Security ID:  871503108
Meeting Date: AUG 21, 2003   Meeting Type: Annual
Record Date:  JUL 8, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Tania Amochaev             For       For        Management
1.2   Elect Director William Coleman            For       For        Management
1.3   Elect Director Dr. Per-Kristian Halvorsen For       For        Management
1.4   Elect Director David Mahoney              For       For        Management
1.5   Elect Director Robert S. Miller           For       For        Management
1.6   Elect Director Bill Owens                 For       For        Management
1.7   Elect Director George Reyes               For       For        Management
1.8   Elect Director Daniel H. Schulman         For       For        Management
1.9   Elect Director John W. Thompson           For       For        Management
2     Increase Authorized Common Stock          For       For        Management
3     Amend Stock Option Plan                   For       Against    Management
4     Approve Executive Incentive Bonus Plan    For       For        Management
5     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

SYNOPSYS, INC.

Ticker:       SNPS           Security ID:  871607107
Meeting Date: MAY 26, 2004   Meeting Type: Annual
Record Date:  APR 7, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Aart J. de Geus            For       For        Management
1.2   Elect Director Andy D. Bryant             For       For        Management
1.3   Elect Director Chi-Foon Chan              For       For        Management
1.4   Elect Director Bruce R. Chizen            For       For        Management
1.5   Elect Director Deborah A. Coleman         For       For        Management
1.6   Elect Director A. Richard Newton          For       For        Management
1.7   Elect Director Sasson Somekh              For       Withhold   Management
1.8   Elect Director Roy Vallee                 For       For        Management
1.9   Elect Director Steven C. Walske           For       For        Management
2     Amend Non-Employee Director Stock Option  For       Against    Management
      Plan
3     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

TEVA PHARMACEUTICAL INDUSTRIES

Ticker:       TEVA           Security ID:  881624209
Meeting Date: MAY 20, 2004   Meeting Type: Annual
Record Date:  APR 15, 2004

#     Proposal                                   Mgt Rec  Vote Cast  Sponsor
1     TO RECEIVE AND DISCUSS THE COMPANY S       For      Did Not    Management
      CONSOLIDATED BALANCE SHEET AS OF DECEMBER           Vote
      31, 2003 AND THE CONSOLIDATED STATEMENTS.
2     TO APPROVE THE BOARD OF DIRECTORS          For      Did Not    Management
      RECOMMENDATION THAT THE CASH DIVIDEND FOR           Vote
      THE YEAR ENDED DECEMBER 31, 2003, WHICH
      WAS PAID IN FOUR INSTALLMENTS AND
      AGGREGATED NIS 1.44 (APPROXIMATELY
      US$0.322) PER ORDINARY SHARE, BE DECLARED
      FINAL.
3     TO ELECT ABRAHAM E. COHEN TO SERVE FOR A   For      Did Not    Management
      THREE-YEAR TERM.                                    Vote
4     TO ELECT LESLIE DAN TO SERVE FOR A         For      Did Not    Management
      THREE-YEAR TERM.                                    Vote
5     TO ELECT PROF. MEIR HETH TO SERVE FOR A    For      Did Not    Management
      THREE-YEAR TERM.                                    Vote
6     TO ELECT PROF. MOSHE MANY TO SERVE FOR A   For      Did Not    Management
      THREE-YEAR TERM.                                    Vote
7     TO ELECT DOV SHAFIR TO SERVE FOR A         For      Did Not    Management
      THREE-YEAR TERM.                                    Vote
8     TO APPROVE THE PURCHASE OF DIRECTOR S AND  For      Did Not    Management
      OFFICER S LIABILITY INSURANCE FOR THE               Vote
      DIRECTORS AND OFFICERS OF THE COMPANY.
9     Ratify Auditors                            For      Did Not    Management
                                                          Vote




--------------------------------------------------------------------------------

TEXAS INSTRUMENTS INC.

Ticker:       TXN            Security ID:  882508104
Meeting Date: APR 15, 2004   Meeting Type: Annual
Record Date:  FEB 17, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director James R. Adams             For       For        Management
1.2   Elect Director David L. Boren             For       For        Management
1.3   Elect Director Daniel A. Carp             For       For        Management
1.4   Elect Director Thomas J. Engibous         For       For        Management
1.5   Elect Director Gerald W. Fronterhouse     For       For        Management
1.6   Elect Director David R. Goode             For       For        Management
1.7   Elect Director Wayne R. Sanders           For       For        Management
1.8   Elect Director Ruth J. Simmons            For       For        Management
1.9   Elect Director Richard K. Templeton       For       For        Management
1.10  Elect Director Christine Todd Whitman     For       For        Management
2     Ratify Auditors                           For       For        Management
3     Expense Stock Options                     Against   For        Shareholder


--------------------------------------------------------------------------------

TUESDAY MORNING CORP.

Ticker:       TUES           Security ID:  899035505
Meeting Date: MAY 18, 2004   Meeting Type: Annual
Record Date:  MAR 19, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Benjamin D. Chereskin      For       For        Management
1.2   Elect Director Kathleen Mason             For       Withhold   Management
1.3   Elect Director W. J. Hunckler, III        For       For        Management
1.4   Elect Director Robin P. Selati            For       For        Management
1.5   Elect Director Sally Frame Kasaks         For       For        Management
1.6   Elect Director Henry F. Frigon            For       Withhold   Management
1.7   Elect Director Giles H. Bateman           For       For        Management
2     Approve Omnibus Stock Plan                For       For        Management


--------------------------------------------------------------------------------

UCBH HOLDINGS, INC.

Ticker:       UCBH           Security ID:  90262T308
Meeting Date: APR 29, 2004   Meeting Type: Annual
Record Date:  FEB 29, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Anthony Y. Chan            For       For        Management
1.2   Elect Director Joseph J. Jou              For       For        Management
1.3   Elect Director Dr. Godwin Wong            For       For        Management
1.4   Elect Director Thomas S. Wu               For       For        Management
2     Amend Certificate to Remove Anti-Takeover For       For        Management
      Provision
3     Ratify Auditors                           For       For        Management



--------------------------------------------------------------------------------

ULTRA PETROLEUM CORP.

Ticker:       UPL            Security ID:  903914109
Meeting Date: MAY 20, 2004   Meeting Type: Annual
Record Date:  APR 8, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Michael D. Watford as a Director    For       For        Management
1.2   Elect William C. Helton as a Director     For       For        Management
1.3   Elect James E. Nielson as a Director      For       For        Management
1.4   Elect Robert E. Rigney as a Director      For       For        Management
1.5   Elect James C. Roe as a Director          For       For        Management
2     Approve Auditors and Authorize Board to   For       For        Management
      Fix Remuneration of Auditors
3     Other Business                            For       Against    Management


--------------------------------------------------------------------------------

UNIVISION COMMUNICATIONS INC.

Ticker:       UVN            Security ID:  914906102
Meeting Date: MAY 12, 2004   Meeting Type: Annual
Record Date:  MAR 15, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director A. Jerrold Perenchio       For       Withhold   Management
1.2   Elect Director Fernando Aguirre           For       For        Management
1.3   Elect Director Harold Gaba                For       For        Management
1.4   Elect Director Alan F. Horn               For       For        Management
1.5   Elect Director John G. Perenchio          For       Withhold   Management
1.6   Elect Director Ray Rodriguez              For       Withhold   Management
1.7   Elect Director McHenry T. Tichenor, Jr.   For       Withhold   Management
2     Ratify Auditors                           For       For        Management
3     Approve Omnibus Stock Plan                For       For        Management


--------------------------------------------------------------------------------

UTSTARCOM, INC.

Ticker:       UTSI           Security ID:  918076100
Meeting Date: SEP 24, 2003   Meeting Type: Special
Record Date:  AUG 15, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Increase Authorized Common Stock          For       For        Management


--------------------------------------------------------------------------------

VARIAN MEDICAL SYSTEMS INC

Ticker:       VAR            Security ID:  92220P105
Meeting Date: JUN 10, 2004   Meeting Type: Special
Record Date:  APR 12, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Increase Authorized Common Stock          For       For        Management



--------------------------------------------------------------------------------

VARIAN MEDICAL SYSTEMS INC

Ticker:       VAR            Security ID:  92220P105
Meeting Date: FEB 19, 2004   Meeting Type: Annual
Record Date:  DEC 22, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director John Seely Brown           For       For        Management
1.2   Elect Director Samuel Hellman             For       For        Management
1.3   Elect Director Terry R. Lautenbach        For       For        Management
2     Amend Executive Incentive Bonus Plan      For       For        Management


--------------------------------------------------------------------------------

VCA ANTECH INC

Ticker:       WOOF           Security ID:  918194101
Meeting Date: JUL 12, 2004   Meeting Type: Annual
Record Date:  MAY 13, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Robert L. Antin            For       For        Management
2     Increase Authorized Common Stock          For       For        Management
3     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

WESTWOOD ONE, INC.

Ticker:       WON            Security ID:  961815107
Meeting Date: MAY 13, 2004   Meeting Type: Annual
Record Date:  APR 13, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Norman J. Pattiz           For       For        Management
1.2   Elect Director Mel Karmazin               For       For        Management
1.3   Elect Director Joseph B. Smith            For       For        Management
1.4   Elect Director Dennis F. Holt             For       For        Management
1.5   Elect Director Shane Coppola              For       For        Management
2     Ratify Auditors                           For       For        Management




--------------------------------------------------------------------------------

WYNN RESORTS LTD

Ticker:       WYNN           Security ID:  983134107
Meeting Date: MAY 4, 2004    Meeting Type: Annual
Record Date:  MAR 31, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Stephen A. Wynn            For       For        Management
1.2   Elect Director Alvin V. Shoemaker         For       For        Management
1.3   Elect Director D. Boone Wayson            For       For        Management
1.4   Elect Director Stanley R. Zax             For       For        Management
2     Approve Executive Incentive Bonus Plan    For       For        Management
3     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

XILINX, INC.

Ticker:       XLNX           Security ID:  983919101
Meeting Date: AUG 7, 2003    Meeting Type: Annual
Record Date:  JUN 9, 2003

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Willem P. Roelandts        For       For        Management
1.2   Elect Director John L. Doyle              For       For        Management
1.3   Elect Director Jerald G. Fishman          For       For        Management
1.4   Elect Director Philip T. Gianos           For       For        Management
1.5   Elect Director William G. Howard, Jr.     For       For        Management
1.6   Elect Director Harold E. Hughes, Jr.      For       For        Management
1.7   Elect Director Richard W. Sevcik          For       For        Management
1.8   Elect Director Elizabeth Vanderslice      For       For        Management
2     Ratify Auditors                           For       For        Management


--------------------------------------------------------------------------------

YAHOO!, INC.

Ticker:       YHOO           Security ID:  984332106
Meeting Date: MAY 21, 2004   Meeting Type: Annual
Record Date:  MAR 25, 2004

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Terry S. Semel             For       Withhold   Management
1.2   Elect Director Jerry Yang                 For       Withhold   Management
1.3   Elect Director Roy J. Bostock             For       Withhold   Management
1.4   Elect Director Ronald W. Burkle           For       Withhold   Management
1.5   Elect Director Eric Hippeau               For       Withhold   Management
1.6   Elect Director Arthur H. Kern             For       Withhold   Management
1.7   Elect Director Robert A. Kotick           For       Withhold   Management
1.8   Elect Director Edward R. Kozel            For       Withhold   Management
1.9   Elect Director Gary L. Wilson             For       Withhold   Management
2     Amend Employee Stock Purchase Plan        For       For        Management
3     Ratify Auditors                           For       For        Management
4     Expense Stock Options                     Against   For        Shareholder




                                   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)  Morgan Stanley Capital Opportunities Trust
              ------------------------------------------------------------------

By  (Signature and Title)*
                                           /s/ Ronald E. Robison

                                         Principal Executive Officer
                             ---------------------------------------------------



Date   August 27, 2004
     ---------------------------------------------------------------------------

*Print the name and title of each signing officer under his or her signature.


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