ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

WADDELL & REED ADVISORS CONTINENTAL INCOME FUND, INC.
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6300 Lamar Avenue, Overland Park, Kansas 66202-4200
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Kristen A. Richards, 6300 Lamar Avenue, Overland Park, Kansas 66202-4200
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Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant's proxy voting record for the most recent twelve-month period ended June 30, pursuant to Section 30 of the Investment Company Act of 1940 and Rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking roles.

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



DELL COMPUTER CORPORATION			DELL	Annual Meeting Date: 07/18/2003
Issuer: 247025		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	DECLASSIFY BOARD		Management	For	No

03	APPROVE COMPANY NAME CHANGE		Management	For	No

04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No



CHECK POINT SOFTWARE TECHNOLOGIES LT			CHKP	Annual Meeting Date: 07/31/2003
Issuer: M22465		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No

02	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No

03	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

04	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No

05	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No

06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes



MEDTRONIC, INC.			MDT	Annual Meeting Date: 08/28/2003
Issuer: 585055		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No



CONAGRA FOODS, INC.			CAG	Annual Meeting Date: 09/25/2003
Issuer: 205887		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes



BIOMET, INC.			BMET	Annual Meeting Date: 09/27/2003
Issuer: 090613		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



THE ESTEE LAUDER COMPANIES INC.			EL	Annual Meeting Date: 11/05/2003
Issuer: 518439		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



CISCO SYSTEMS, INC.			CSCO	Annual Meeting Date: 11/11/2003
Issuer: 17275R		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	AMEND STOCK PURCHASE PLAN TO INCREASE SHARES		Management	For	No

03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

04	S/H PROPOSAL - BUSINESS/INVESTMENT		Shareholder	Against	No

05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No



MICROSOFT CORPORATION			MSFT	Annual Meeting Date: 11/11/2003
Issuer: 594918		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	AMEND OMNIBUS STOCK OPTION PLAN		Management	Against	Yes

03	AMEND NON-EMPLOYEE DIRECTOR PLAN		Management	For	No

04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No



THE CLOROX COMPANY			CLX	Annual Meeting Date: 11/19/2003
Issuer: 189054		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



AIR PRODUCTS AND CHEMICALS, INC.			APD	Annual Meeting Date: 01/22/2004
Issuer: 009158		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



COSTCO WHOLESALE CORPORATION			COST	Annual Meeting Date: 01/29/2004
Issuer: 22160K		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	For	Yes

03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



EMERSON ELECTRIC CO.			EMR	Annual Meeting Date: 02/03/2004
Issuer: 291011		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No

03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



THE WALT DISNEY COMPANY			DIS	Annual Meeting Date: 03/03/2004
Issuer: 254687		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	Withheld	Yes

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	S/H PROPOSAL - HUMAN RIGHTS RELATED		Shareholder	Against	No

04	S/H PROPOSAL - HUMAN RIGHTS RELATED		Shareholder	For	Yes

05	S/H PROPOSAL - BUSINESS/INVESTMENT		Shareholder	Against	No



ANALOG DEVICES, INC.			ADI	Annual Meeting Date: 03/09/2004
Issuer: 032654		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No

03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



NOKIA CORPORATION			NOK	Annual Meeting Date: 03/25/2004
Issuer: 654902		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

1A	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

1B	DIVIDEND		Management	For	No

1C	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

1E	ELECTION OF DIRECTORS		Management	For	No

1G	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

2	AUTHORIZE DIRECTORS TO DECREASE SHARE CAPITAL		Shareholder	For	No

3	AUTHORIZE DIRECTORS TO INCREASE SHARE CAPITAL		Shareholder	Against	Yes

4	AUTHORIZE REISSUANCE OF REPURCHASED SHARES		Shareholder	For	No

5	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Shareholder	Against	Yes

6	AUTHORIZE DIRECTORS TO INCREASE SHARE CAPITAL		Shareholder	For	No

7	CHANGE STOCK EXCHANGE LISTING		Management	Against



THE GOLDMAN SACHS GROUP, INC.			GS	Annual Meeting Date: 03/31/2004
Issuer: 38141G		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes



CATERPILLAR INC.			CAT	Annual Meeting Date: 04/14/2004
Issuer: 149123		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	AMEND STOCK OPTION PLAN		Management	For	No

03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

04	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Yes
	RATIFY POISON PILL

05	S/H PROPOSAL - SPIN-OFF/SELL COMPANY ASSETS		Shareholder	Against	No

06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No



SCHLUMBERGER LIMITED (SCHLUMBERGER N			SLB	Annual Meeting Date: 04/14/2004
Issuer: 806857		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



BP P.L.C.			BP	Annual Meeting Date: 04/15/2004
Issuer: 055622		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

07	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No

08	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

09	ARTICLES OF ASSOCIATION		Management	Against	Yes

10	ALLOT SECURITIES		Shareholder	Against	Yes

11	ALLOT SECURITIES		Shareholder	For	No

12	AUTHORIZE DIRECTORS TO REPURCHASE SHARES		Management	For	No

13	SHARE SCHEME		Management	For	No

14	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

15	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

16	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

17	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No



CITIGROUP INC.			C	Annual Meeting Date: 04/20/2004
Issuer: 172967		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No

04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

05	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	Against	No

06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No



MORGAN STANLEY			MWD	Annual Meeting Date: 04/20/2004
Issuer: 617446		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	S/H PROPOSAL - REPORT ON EMPLOYEES EARNING OVER		Shareholder	For	Yes
	$100,000

04	S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER		Shareholder	Against	No
	VOTE

05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No



BURLINGTON NORTHERN SANTA FE CORPORA			BNI	Annual Meeting Date: 04/21/2004
Issuer: 12189T		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



BURLINGTON RESOURCES INC.			BR	Annual Meeting Date: 04/21/2004
Issuer: 122014		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No

03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



THE COCA-COLA COMPANY			KO	Annual Meeting Date: 04/21/2004
Issuer: 191216		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	For	No

04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes

07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

09	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes



JOHNSON & JOHNSON			JNJ	Annual Meeting Date: 04/22/2004
Issuer: 478160		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	S/H PROPOSAL - ESTABLISH NOMINATING COMMITTEE		Shareholder	Against	No



PFIZER INC.			PFE	Annual Meeting Date: 04/22/2004
Issuer: 717081		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	ADOPT STOCK OPTION PLAN		Management	For	No

04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	For	Yes

06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No

08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

09	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	Against	No

10	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No



WYETH			WYE	Annual Meeting Date: 04/22/2004
Issuer: 983024		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

04	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	No



ABBOTT LABORATORIES			ABT	Annual Meeting Date: 04/23/2004
Issuer: 002824		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No



DOMINION RESOURCES, INC.			D	Annual Meeting Date: 04/23/2004
Issuer: 25746U		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	S/H PROPOSAL - REINCORPORATE OUT OF DELAWARE		Shareholder	Against	No



AMERICAN EXPRESS COMPANY			AXP	Annual Meeting Date: 04/26/2004
Issuer: 025816		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No

04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No



CHUBB CORPORATION			CB	Annual Meeting Date: 04/27/2004
Issuer: 171232		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No

04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No



INTERNATIONAL BUSINESS MACHINES CORP			IBM	Annual Meeting Date: 04/27/2004
Issuer: 459200		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

04	AMEND LONG TERM INCENTIVE PLAN		Management	For	No

05	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No

06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

08	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

09	S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE		Shareholder	Against	No
	COMPENSATION

10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

11	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

12	S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE		Shareholder	Against	No
	COMPENSATION



MANPOWER INC.			MAN	Annual Meeting Date: 04/27/2004
Issuer: 56418H		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



WELLS FARGO & COMPANY			WFC	Annual Meeting Date: 04/27/2004
Issuer: 949746		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

04	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No



ANHEUSER-BUSCH COMPANIES, INC.			BUD	Annual Meeting Date: 04/28/2004
Issuer: 035229		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



CLEAR CHANNEL COMMUNICATIONS, INC.			CCU	Annual Meeting Date: 04/28/2004
Issuer: 184502		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



E. I. DU PONT DE NEMOURS AND COMPANY			DD	Annual Meeting Date: 04/28/2004
Issuer: 263534		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No



GENERAL ELECTRIC COMPANY			GE	Annual Meeting Date: 04/28/2004
Issuer: 369604		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

0A	ELECTION OF DIRECTORS		Management	For	No

0B	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

0C	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	No

01	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No

02	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	No

03	S/H PROPOSAL - OPT OUT OF ANTI-TAKEOVER STATUTE		Shareholder	Against	No

04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

07	S/H PROPOSAL - ELIMINATE CUMULATIVE VOTING		Shareholder	Against	No

08	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	Against	No
	RATIFY POISON PILL

09	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No

10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

11	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	For	Yes

12	S/H PROPOSAL - ENHANCE STOCK VALUE VIA MERGER/SALE		Shareholder	Against	No

13	S/H PROPOSAL - OVERRIDE CSA VOTE RESTRICTIONS		Shareholder	Against	No

14	S/H PROPOSAL - REQUIRE MAJORITY OF DIRECTORS		Shareholder	Against	No
	TO BE INDEPENDENT

15	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No



ALCOA INC.			AA	Annual Meeting Date: 04/30/2004
Issuer: 013817		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No

3A	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

3B	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No



SBC COMMUNICATIONS INC.			SBC	Annual Meeting Date: 04/30/2004
Issuer: 78387G		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	DECLASSIFY BOARD		Management	For	No

04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No



BERKSHIRE HATHAWAY INC.			BRKA	Annual Meeting Date: 05/03/2004
Issuer: 084670		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No



SEALED AIR CORPORATION			SEE	Annual Meeting Date: 05/05/2004
Issuer: 81211K		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



SAP AG			SAP	Annual Meeting Date: 05/06/2004
Issuer: 803054		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

02	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes

03	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes

04	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes

05	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes

06	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes

07	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes

08	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes



COLGATE-PALMOLIVE COMPANY			CL	Annual Meeting Date: 05/07/2004
Issuer: 194162		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

04	S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER		Shareholder	Against	No
	VOTE

05	S/H PROPOSAL - HUMAN RIGHTS RELATED		Shareholder	Against	No

06	S/H PROPOSAL - REQUIRE MAJORITY OF DIRECTORS		Shareholder	For	Yes
	TO BE INDEPENDENT



INTERNATIONAL PAPER COMPANY			IP	Annual Meeting Date: 05/11/2004
Issuer: 460146		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	AMEND LONG TERM INCENTIVE PLAN		Management	For	No

04	AMEND LONG TERM INCENTIVE PLAN		Management	For	No

05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No



TRIBUNE COMPANY			TRB	Annual Meeting Date: 05/12/2004
Issuer: 896047		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No



AMGEN INC.			AMGN	Annual Meeting Date: 05/13/2004
Issuer: 031162		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

3A	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

3B	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes



COOPER CAMERON CORPORATION			CAM	Annual Meeting Date: 05/13/2004
Issuer: 216640		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No



LINCOLN NATIONAL CORPORATION			LNC	Annual Meeting Date: 05/13/2004
Issuer: 534187		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	ADOPT NON-EMPLOYEE DIRECTOR PLAN		Management	For	No



THE DOW CHEMICAL COMPANY			DOW	Annual Meeting Date: 05/13/2004
Issuer: 260543		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	APPROVE CHARTER AMENDMENT		Management	For	No

04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No



COX COMMUNICATIONS, INC.			COX	Annual Meeting Date: 05/18/2004
Issuer: 224044		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management		Yes

02	ADOPT STOCK PURCHASE PLAN		Management	For	No



DEAN FOODS COMPANY			DF	Annual Meeting Date: 05/18/2004
Issuer: 242370		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



INTEL CORPORATION			INTC	Annual Meeting Date: 05/19/2004
Issuer: 458140		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No

04	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No



LIZ CLAIBORNE, INC.			LIZ	Annual Meeting Date: 05/20/2004
Issuer: 539320		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No



THE MAY DEPARTMENT STORES COMPANY			MAY	Annual Meeting Date: 05/21/2004
Issuer: 577778		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

A	ELECTION OF DIRECTORS		Management	For	No

B	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

C	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No

D	AMEND STOCK OPTION PLAN		Management	For	No



EXXON MOBIL CORPORATION			XOM	Annual Meeting Date: 05/26/2004
Issuer: 30231G		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

10	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

11	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	No



THE SOUTHERN COMPANY			SO	Annual Meeting Date: 05/26/2004
Issuer: 842587		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	ADOPT NON-EMPLOYEE DIRECTOR PLAN		Management	For	No



NABORS INDUSTRIES LTD.			NBR	Annual Meeting Date: 06/01/2004
Issuer: G6359F		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

03	APPROVE REINCORPORATION TO DELAWARE		Management	Against	No



INGERSOLL-RAND COMPANY LIMITED			IR	Annual Meeting Date: 06/02/2004
Issuer: G4776G		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

03	APPROVE CHARTER AMENDMENT		Management	For	No

04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

06	S/H PROPOSAL - REINCORPORATE IN OTHER STATE		Shareholder	Against	No

07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No



WAL-MART STORES, INC.			WMT	Annual Meeting Date: 06/04/2004
Issuer: 931142		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

04	ADOPT STOCK PURCHASE PLAN		Management	For	No

05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No

07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

09	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

11	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No



COUNTRYWIDE FINANCIAL CORPORATION			CFC	Annual Meeting Date: 06/16/2004
Issuer: 222372		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	ELECTION OF DIRECTORS		Management	For	No

02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No



CHECK POINT SOFTWARE TECHNOLOGIES LT			CHKP	Annual Meeting Date: 06/30/2004
Issuer: M22465		ISIN:
SEDOL:

Vote Group: GLOBAL

Proposal Number	Proposal		Proposal Type	Vote Cast	Against Mgmt.

01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No

02	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

03	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No

04	APPROVE RENUMERATION OF DIRECTORS		Management	For	No

05	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

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.

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