UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM N-PX

               ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
                         MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-7548
                                  ----------------------------------------------

                Morgan Stanley Global Dividend Growth Securities
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               (Exact name of registrant as specified in charter)

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

                               Amy Doberman, Esq.

                                Managing Director

                     Morgan Stanley Investment Advisors Inc.

                           1221 Avenue of the Americas

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

Registrant's telephone number, including area code: 800-869-6397
                                                   -----------------------------
Date of fiscal year end: 3/31
                        ------------------

Date of reporting period: 7/1/05 - 6/30/06
                         -----------------




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

ICA File Number: 811-07548
Reporting Period: 07/01/2005 - 06/30/2006
Morgan Stanley Global Dividend Growth Securities









=============== MORGAN STANLEY GLOBAL DIVIDEND GROWTH SECURITIES ===============


ALCOA INC.

Ticker:       AA             Security ID:  013817101
Meeting Date: APR 21, 2006   Meeting Type: Annual
Record Date:  JAN 23, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Kathryn S. Fuller          For       For        Management
1.2   Elect Director Judith M. Gueron           For       For        Management
1.3   Elect Director Ernesto Zedillo            For       For        Management
2     Ratify Auditors                           For       For        Management


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ALLIED DOMECQ PLC

Ticker:       ALDQF          Security ID:  GB0007294571
Meeting Date: JUL 4, 2005    Meeting Type: Court
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Scheme of Arrangement             For       For        Management


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ALLIED DOMECQ PLC

Ticker:       ALDQF          Security ID:  GB0007294571
Meeting Date: JUL 4, 2005    Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Scheme of Arrangement; Approve    For       For        Management
      Capital Re-organization; Amend Articles
      of Association


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ALTRIA GROUP, INC.

Ticker:       MO             Security ID:  02209S103
Meeting Date: APR 27, 2006   Meeting Type: Annual
Record Date:  MAR 6, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Elizabeth E. Bailey        For       For        Management
1.2   Elect Director Harold Brown               For       For        Management
1.3   Elect Director Mathis Cabiallavetta       For       For        Management
1.4   Elect Director Louis C. Camilleri         For       For        Management
1.5   Elect Director J. Dudley Fishburn         For       For        Management
1.6   Elect Director Robert E. R. Huntley       For       For        Management
1.7   Elect Director Thomas W. Jones            For       For        Management
1.8   Elect Director George Munoz               For       For        Management
1.9   Elect Director Lucio A. Noto              For       For        Management
1.10  Elect Director John S. Reed               For       For        Management
1.11  Elect Director Stephen M. Wolf            For       For        Management
2     Ratify Auditors                           For       For        Management
3     Separate Chairman and CEO Positions       Against   Against    Shareholder
4     Adopt ILO Standards                       Against   Against    Shareholder
5     Inform African Americans of Health Risks  Against   Against    Shareholder
      Associated with Menthol Cigarettes
6     Establish Fire Safety Standards for       Against   Against    Shareholder
      Cigarettes
7     Adopt Animal Welfare Policy               Against   Against    Shareholder
8     Support Legislation to Reduce Smoking     Against   Against    Shareholder
9     Provide Information on Second Hand Smoke  Against   Against    Shareholder


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AMERICAN ELECTRIC POWER CO.

Ticker:       AEP            Security ID:  025537101
Meeting Date: APR 25, 2006   Meeting Type: Annual
Record Date:  MAR 2, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director E.R. Brooks                For       For        Management
1.2   Elect Director D.M. Carlton               For       For        Management
1.3   Elect Director R.D. Crosby, Jr.           For       For        Management
1.4   Elect Director J.P. Desbarres             For       For        Management
1.5   Elect Director R.W. Fri                   For       For        Management
1.6   Elect Director L.A. Goodspeed             For       For        Management
1.7   Elect Director W.R. Howell                For       For        Management
1.8   Elect Director L.A. Hudson                For       For        Management
1.9   Elect Director M.G. Morris                For       For        Management
1.10  Elect Director L.L. Nowell III            For       For        Management
1.11  Elect Director R.L. Sandor                For       For        Management
1.12  Elect Director D.G. Smith                 For       For        Management
1.13  Elect Director K.D. Sullivan              For       For        Management
2     Ratify Auditors                           For       For        Management


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AMERICAN INTERNATIONAL GROUP, INC.

Ticker:       AIG            Security ID:  026874107
Meeting Date: AUG 11, 2005   Meeting Type: Annual
Record Date:  JUN 24, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director M. Aidinoff                For       For        Management
1.2   Elect Director P. Chia                    For       For        Management
1.3   Elect Director M. Cohen                   For       For        Management
1.4   Elect Director W. Cohen                   For       For        Management
1.5   Elect Director M. Feldstein               For       For        Management
1.6   Elect Director E. Futter                  For       For        Management
1.7   Elect Director S. Hammerman               For       For        Management
1.8   Elect Director C. Hills                   For       For        Management
1.9   Elect Director R. Holbrooke               For       For        Management
1.10  Elect Director D. Kanak                   For       For        Management
1.11  Elect Director G. Miles, Jr               For       For        Management
1.12  Elect Director M. Offit                   For       For        Management
1.13  Elect Director M. Sullivan                For       For        Management
1.14  Elect Director E. Tse                     For       For        Management
1.15  Elect Director F. Zarb                    For       For        Management
2     Ratify Auditors                           For       For        Management


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AMERICAN INTERNATIONAL GROUP, INC.

Ticker:       AIG            Security ID:  026874107
Meeting Date: MAY 17, 2006   Meeting Type: Annual
Record Date:  MAR 24, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Pei-yuan Chia              For       For        Management
1.2   Elect Director Marshall A. Cohen          For       For        Management
1.3   Elect Director Martin S. Feldstein        For       For        Management
1.4   Elect Director Ellen V. Futter            For       For        Management
1.5   Elect Director Stephen L. Hammerman       For       For        Management
1.6   Elect Director Richard C. Holbrooke       For       For        Management
1.7   Elect Director Fred H. Langhammer         For       For        Management
1.8   Elect Director George L. Miles, Jr.       For       For        Management
1.9   Elect Director Morris W. Offit            For       For        Management
1.10  Elect Director James F. Orr, III          For       For        Management
1.11  Elect Director Martin J. Sullivan         For       For        Management
1.12  Elect Director Michael H. Sutton          For       For        Management
1.13  Elect Director Edmund S.W. Tse            For       For        Management
1.14  Elect Director Robert B. Willumstad       For       For        Management
1.15  Elect Director Frank G. Zarb              For       For        Management
2     Ratify Auditors                           For       For        Management
3     Approve Executive Incentive Bonus Plan    For       For        Management


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AMVESCAP PLC

Ticker:                      Security ID:  GB0001282697
Meeting Date: APR 27, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       Against    Management
3     Approve Final Dividend of 5.5 Pence Per   For       For        Management
      Ordinary Share
4     Elect Martin Flanagan as Director         For       For        Management
5     Elect Thomas Presby as Director           For       For        Management
6     Reappoint Ernst & Young LLP as Auditors   For       For        Management
      and Authorise the Audit Committee to
      Determine Their Remuneration
7     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      USD 22,990,000
8     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of USD 4,100,000
9     Authorise 82,000,000 Ordinary Shares for  For       For        Management
      Market Purchase
10    Amend Articles of Association Re:         For       For        Management
      Dividend Payments


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AMVESCAP PLC

Ticker:                      Security ID:  GB0001282697
Meeting Date: NOV 1, 2005    Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Increase Cap. by Creating Redeemable      For       For        Management
      Pref. Shares; Decrease Capital by
      Cancelling Ordinary Shares; Increase Cap.
      by Creating New Ordinary Shares; Issue
      Equity with and without Pre-emptive
      Rights; Approve Market Purchase of
      Shares; Amend Articles of Assoc.


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AMVESCAP PLC

Ticker:                      Security ID:  GB0001282697
Meeting Date: NOV 1, 2005    Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Consent to the Passing of the Resolution  For       For        Management
      Set Out in the EGM Convened for 1
      November 2005; and Consent to Every
      Alteration of the Special Rights Attached
      to the Ordinary Shares


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ASTELLAS PHARMA INC. (FRMLY. YAMANOUCHI PHARMACEUTICAL CO. LTD.)

Ticker:       4503           Security ID:  JP3942400007
Meeting Date: JUN 27, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 30,
      Final JY 40, Special JY 0
2     Amend Articles to: Limit Non-Executive    For       For        Management
      Directors' and Statutory Auditors' Legal
      Liability - Authorize Public
      Announcements in Electronic Format -
      Limit Rights of Odd-Lot Holders - Update
      Terminoloy to Match that of New Corporate
      Law
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
4     Appoint Internal Statutory Auditor        For       For        Management
5     Approve Amendment to Director             For       For        Management
      Compensation Ceiling and Deep Discount
      Stock Option Plan for Directors


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AT&T INC

Ticker:       T              Security ID:  00206R102
Meeting Date: APR 28, 2006   Meeting Type: Annual
Record Date:  MAR 1, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director William F. Aldinger, III   For       For        Management
1.2   Elect Director Gilbert F. Amelio          For       For        Management
1.3   Elect Director August A. Busch, III       For       Withhold   Management
1.4   Elect Director Martin K. Eby, Jr.         For       For        Management
1.5   Elect Director James A. Henderson         For       For        Management
1.6   Elect Director Charles F. Knight          For       For        Management
1.7   Elect Director Jon C. Madonna             For       For        Management
1.8   Elect Director Lynn M. Martin             For       For        Management
1.9   Elect Director John B. McCoy              For       For        Management
1.10  Elect Director Mary S. Metz               For       For        Management
1.11  Elect Director Toni Rembe                 For       For        Management
1.12  Elect Director S. Donley Ritchey          For       For        Management
1.13  Elect Director Joyce M. Roche             For       Withhold   Management
1.14  Elect Director Randall L. Stephenson      For       For        Management
1.15  Elect Director Laura D'Andrea Tyson       For       For        Management
1.16  Elect Director Patricia P. Upton          For       For        Management
1.17  Elect Director Edward E. Whitacre, Jr.    For       For        Management
2     Ratify Auditors                           For       For        Management
3     Approve Omnibus Stock Plan                For       For        Management
4     Amend Articles/Bylaws/Charter-Non-Routine For       For        Management
5     Report on Political Contributions         Against   Against    Shareholder
6     Separate Chairman and CEO Positions       Against   For        Shareholder
7     Report on Pay Disparity                   Against   Against    Shareholder
8     Non-Employee Director Compensation        Against   Against    Shareholder
9     Submit Severance Agreement (Change in     Against   For        Shareholder
      Control) to shareholder Vote
10    Adopt Simple Majority Vote Requirement    Against   For        Shareholder


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BAA PLC

Ticker:                      Security ID:  GB0000673409
Meeting Date: JUL 15, 2005   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 14.3 Pence Per  For       For        Management
      Ordinary Share
4     Re-elect Marcus Agius as Director         For       For        Management
5     Re-elect Mark Clare as Director           For       For        Management
6     Re-elect Chris Fay as Director            For       For        Management
7     Reappoint PricewaterhouseCooopers LLP as  For       For        Management
      Auditors of the Company
8     Authorise Board to Fix Remuneration of    For       For        Management
      the Auditors
9     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 53,826,000
10    Amend BAA Deferred Annual Bonus Plan      For       For        Management
11    Amend Articles of Association Re:         Against   Against    Management
      Shareholder Approval for the Submission
      of Planning Applications for Documents
      Above a Certain Value


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BANCO BILBAO VIZCAYA ARGENTARIA

Ticker:                      Security ID:  ES0113211835
Meeting Date: MAR 18, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Individual and Consolidated       For       For        Management
      Financial Statements and Statutory
      Reports for Fiscal Ended 12-31-05,
      Allocation of Income and Distribution of
      Dividends, and Discharge Directors
2     Fix Number of Directors                   None      None       Management
2.1   Appoint Tomas Alfaro Drake as Director    For       For        Management
2.2   Relect Juan Carlos Alvarez Mezquiriz to   For       For        Management
      Management Board
2.3   Relect Carlos Loring Martinez de Irujo to For       For        Management
      Management Board
2.4   Reelect Susana Rodriguez Vidarte to       For       For        Management
      Management Board
3     Authorize Issuance of Non-Convertible     For       For        Management
      Securities up to Aggregate Nominal Amount
      of EUR 105 Million
4     Authorize Repurchase of Shares by Company For       For        Management
      and/or Subsidiaries; Approve Capital
      Reduction Via Amortization of Shares
5     Reelect Deloitte & Touche Espana S.L. as  For       For        Management
      Auditors for 2006
6     Approve Stock Compensation Plan for       For       For        Management
      Executive Directors, including Executives
      Members of the Board, and Members of the
      Management Committee
7     Amend Article 53 of ByLaws Re: Include    For       For        Management
      the Possibility to Compensate Board
      Members with Stock or Stock Options In
      Connection to the Value of the Shares
8     Approve Non-Executive Director Deferred   For       For        Management
      Stock Compensation
9     Authorize Board to Ratify and Execute     For       For        Management
      Approved Resolutions


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BANK OF IRELAND GROUP

Ticker:       IRLBF          Security ID:  IE0030606259
Meeting Date: JUL 6, 2005    Meeting Type: Annual
Record Date:  JUL 4, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Final Dividends                   For       For        Management
3.1   Elect Paul Haran as Director              For       For        Management
3.2a  Re-elect Richard Burrows as Director      For       For        Management
3.2b  Re-elect Brian Goggin as Director         For       For        Management
3.2c  Re-elect Dennis O'Brien as Director       For       For        Management
3.2d  Re-elect John O'Donovan as Director       For       For        Management
3.2e  Re-elect Mary Redmond as Director         For       For        Management
4     Authorize Board to Fix Remuneration of    For       For        Management
      Auditors
5     Authorize up to 95,732,060 Ordinary Stock For       For        Management
      Units and 1,876,090 Sterling Preference
      Stock Units and 3,026,598 Euro Preference
      Stock Units for Share Repurchase Program
6     Authorize Reissuance of Repurchased       For       For        Management
      Shares
7     Authorize Board to Allot Up to EUR        For       For        Management
      30,900,000 in Equity Securities for Cash
      without Preemptive Rights
8     Authorize Board to Allot Equity           For       For        Management
      Securities Representing 15 Percent of the
      Issued Share Capital, without Preemptive
      Rights, For Purposes Other Than Cash
9     Amend Company Bye-Laws Re: Preference     For       For        Management
      Stock


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BARCLAYS PLC

Ticker:       BCLYF          Security ID:  GB0031348658
Meeting Date: APR 27, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Elect Fulvio Conti as Director            For       For        Management
4     Elect Danie Cronje as Director            For       For        Management
5     Elect Robert Diamond Jr. as Director      For       For        Management
6     Elect Robert Steel as Director            For       For        Management
7     Elect John Sunderland as Director         For       For        Management
8     Re-elect Dame Dawson as Director          For       For        Management
9     Re-elect Sir Richard Broadbent as         For       For        Management
      Director
10    Re-elect Gary Hoffman as Director         For       For        Management
11    Re-elect Naguib Kheraj as Director        For       For        Management
12    Re-elect Sir Nigel Rudd as Director Nigel For       For        Management
      Rudd as Director
13    Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors of the Company
14    Authorize Board to Fix Remuneration of    For       For        Management
      Auditors
15    Authorise the Company to make EU          For       For        Management
      Political Organisation Donations up to
      GBP 25,000 and Incur EU Political
      Expenditure up to GBP 25,000
16    Authorise Barclays Bank plc to make EU    For       For        Management
      Political Organisation Donations up to
      GBP 100,000 and Incur EU Political
      Expenditure up to GBP 100,000
17    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 541,215,604
18    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 81,182,340
19    Authorise 968,600,000 Ordinary Shares for For       For        Management
      Market Purchase


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BASF AG

Ticker:       BFASF          Security ID:  DE0005151005
Meeting Date: MAY 4, 2006    Meeting Type: Annual
Record Date:  APR 13, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Receive Financial Statements and          None      None       Management
      Statutory Reports
2     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 2.00 per Share
3     Approve Discharge of Supervisory Board    For       For        Management
      for Fiscal 2005
4     Approve Discharge of Management Board for For       For        Management
      Fiscal 2005
5     Ratify KPMG Deutsche                      For       For        Management
      Treuhand-Gesellschaft AG as Auditors for
      Fiscal 2006
6     Authorize Share Repurchase Program and    For       For        Management
      Reissuance of Repurchased Shares
7     Authorize Use of Financial Derivatives    For       For        Management
      When Repurchasing Shares
8     Amend Articles Re: Supervisory Board      For       Against    Management
      Remuneration Scheme; Conducting of
      Shareholder Meetings


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BAYERISCHE MOTOREN WERKE AG (BMW)

Ticker:                      Security ID:  DE0005190003
Meeting Date: MAY 16, 2006   Meeting Type: Annual
Record Date:  APR 25, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Receive Financial Statements and          None      None       Management
      Statutory Reports
2     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 0.64 per Common Share
      and EUR 0.66 per Preference Sharee
3     Approve Discharge of Management Board for For       For        Management
      Fiscal 2005
4     Approve Discharge of Supervisory Board    For       For        Management
      for Fiscal 2005
5     Ratify KPMG Deutsche                      For       For        Management
      Treuhand-Gesellschaft Aktiengesellschaft
      as Auditors for Fiscal 2006
6     Elect Heinz-Joachim Neubuerger to the     For       For        Management
      Supervisory Board
7     Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital


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BNP PARIBAS SA (FM. BANQUE NATIONALE DE PARIS)

Ticker:       BNPQF          Security ID:  FR0000131104
Meeting Date: MAY 23, 2006   Meeting Type: Annual/Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
2     Approve Financial Statements and          For       For        Management
      Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 2.60 per Share
4     Approve Special Auditors' Report          For       For        Management
      Regarding Related-Party Transactions
5     Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
6     Elect Laurence Parisot as Director        For       For        Management
7     Reelect Claude Bebear as Director         For       For        Management
8     Reelect Jean-Louis Beffa as Director      For       For        Management
9     Reelect Alain Joly as Director            For       For        Management
10    Reelect Denis Kessler as Director         For       For        Management
11    Reelect Michel Pebereau as Director       For       For        Management
12    Ratify Deloitte & Associes as Auditor and For       For        Management
      BEAS as Alternate Auditor
13    Ratify Mazars & Guerard as Auditor and    For       For        Management
      Michel Barbet-Massin as Alternate Auditor
14    Ratify PricewaterhouseCoopers Audit as    For       For        Management
      Auditor and Pierre Coll as Alternate
      Auditor
15    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities
16    Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities with Preemptive
      Rights up to Aggregate Nominal Amount of
      EUR 1 Billion
17    Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities without
      Preemptive Rights up to Aggregate Nominal
      Amount of EUR 320 Million
18    Authorize Capital Increase of up to 10    For       For        Management
      Percent of Issued Capital for Future
      Acquisitions
19    Authorize Capitalization of Reserves of   For       For        Management
      Up to EUR 1 Billion for Bonus Issue or
      Increase in Par Value
20    Set Global Limit for Capital Increase to  For       For        Management
      Result from All Issuance Requests at EUR
      1 Billion
21    Amend Resolution 14 Adopted by General    For       For        Management
      Meeting on May 18, 2005: Set Global Limit
      for Capital Increase Resulting from
      Granting of Options and Free Shares
22    Approve Employee Savings-Related Share    For       For        Management
      Purchase Plan
23    Approve Reduction in Share Capital via    For       For        Management
      Cancellation of Repurchased Shares
24    Approve Merger by Absorption of Societe   For       For        Management
      Centrale d'Investissements by BNP Paribas
25    Amend Articles Board Related Re:          For       For        Management
      Elections of Employee Representative
26    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities


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BNP PARIBAS SA (FM. BANQUE NATIONALE DE PARIS)

Ticker:       BNPQF          Security ID:  FR0010272641
Meeting Date: MAY 23, 2006   Meeting Type: Annual/Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
2     Approve Financial Statements and          For       For        Management
      Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 2.60 per Share
4     Approve Special Auditors' Report          For       For        Management
      Regarding Related-Party Transactions
5     Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
6     Elect Laurence Parisot as Director        For       For        Management
7     Reelect Claude Bebear as Director         For       For        Management
8     Reelect Jean-Louis Beffa as Director      For       For        Management
9     Reelect Alain Joly as Director            For       For        Management
10    Reelect Denis Kessler as Director         For       For        Management
11    Reelect Michel Pebereau as Director       For       For        Management
12    Ratify Deloitte & Associes as Auditor and For       For        Management
      BEAS as Alternate Auditor
13    Ratify Mazars & Guerard as Auditor and    For       For        Management
      Michel Barbet-Massin as Alternate Auditor
14    Ratify PricewaterhouseCoopers Audit as    For       For        Management
      Auditor and Pierre Coll as Alternate
      Auditor
15    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities
16    Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities with Preemptive
      Rights up to Aggregate Nominal Amount of
      EUR 1 Billion
17    Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities without
      Preemptive Rights up to Aggregate Nominal
      Amount of EUR 320 Million
18    Authorize Capital Increase of up to 10    For       For        Management
      Percent of Issued Capital for Future
      Acquisitions
19    Authorize Capitalization of Reserves of   For       For        Management
      Up to EUR 1 Billion for Bonus Issue or
      Increase in Par Value
20    Set Global Limit for Capital Increase to  For       For        Management
      Result from All Issuance Requests at EUR
      1 Billion
21    Amend Resolution 14 Adopted by General    For       For        Management
      Meeting on May 18, 2005: Set Global Limit
      for Capital Increase Resulting from
      Granting of Options and Free Shares
22    Approve Employee Savings-Related Share    For       For        Management
      Purchase Plan
23    Approve Reduction in Share Capital via    For       For        Management
      Cancellation of Repurchased Shares
24    Approve Merger by Absorption of Societe   For       For        Management
      Centrale d'Investissements by BNP Paribas
25    Amend Articles Board Related Re:          For       For        Management
      Elections of Employee Representative
26    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities


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BOEING CO., THE

Ticker:       BA             Security ID:  097023105
Meeting Date: MAY 1, 2006    Meeting Type: Annual
Record Date:  MAR 3, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director John H. Biggs              For       For        Management
1.2   Elect Director John E. Bryson             For       For        Management
1.3   Elect Director Linda Z. Cook              For       For        Management
1.4   Elect Director William M. Daley           For       For        Management
1.5   Elect Director Kenneth M. Duberstein      For       For        Management
1.6   Elect Director John F. McDonnell          For       For        Management
1.7   Elect Director W. James McNerney, Jr.     For       For        Management
1.8   Elect Director Richard D. Nanula          For       For        Management
1.9   Elect Director Rozanne L. Ridgway         For       For        Management
1.10  Elect Director Mike S. Zafirovski         For       For        Management
2     Approve Executive Incentive Bonus Plan    For       For        Management
3     Amend Omnibus Stock Plan                  For       For        Management
4     Reduce Supermajority Vote Requirement     For       For        Management
5     Ratify Auditors                           For       For        Management
6     Develop a Human Rights Policy             Against   Against    Shareholder
7     Develop Ethical Criteria for Military     Against   Against    Shareholder
      Contracts
8     Report on Charitable Contributions        Against   Against    Shareholder
9     Require a Majority Vote for the Election  Against   For        Shareholder
      of Directors
10    Separate Chairman and CEO Positions       Against   For        Shareholder


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

BORAL LIMITED

Ticker:       BLD            Security ID:  AU000000BLD2
Meeting Date: OCT 21, 2005   Meeting Type: Annual
Record Date:  OCT 19, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Remuneration Report               For       For        Management
2     Elect Elizabeth Alexander as Director     For       For        Management
3     Elect Roland Williams as Director         For       For        Management


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

BRISTOL-MYERS SQUIBB CO.

Ticker:       BMY            Security ID:  110122108
Meeting Date: MAY 2, 2006    Meeting Type: Annual
Record Date:  MAR 6, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Robert E. Allen            For       For        Management
1.2   Elect Director Lewis B. Campbell          For       For        Management
1.3   Elect Director Vance D. Coffman           For       For        Management
1.4   Elect Director James M. Cornelius         For       For        Management
1.5   Elect Director Peter R. Dolan             For       For        Management
1.6   Elect Director Louis J. Freeh             For       For        Management
1.7   Elect Director Laurie H. Glimcher, M.D.   For       For        Management
1.8   Elect Director Leif Johansson             For       For        Management
1.9   Elect Director James D. Robinson, III     For       For        Management
2     Ratify Auditor                            For       For        Management
3     Increase Disclosure of Executive          Against   Against    Shareholder
      Compensation
4     Provide for Cumulative Voting             Against   For        Shareholder
5     Claw-back of Payments under Restatements  Against   Against    Shareholder
6     Report on Animal Welfare                  Against   Against    Shareholder
7     Establish Term Limits for Directors       Against   Against    Shareholder


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

CA INC

Ticker:       CA             Security ID:  204912109
Meeting Date: AUG 24, 2005   Meeting Type: Annual
Record Date:  JUL 1, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Kenneth D. Cron            For       For        Management
1.2   Elect Director Alfonse M. D'Amato         For       For        Management
1.3   Elect Director Gary J. Fernandes          For       For        Management
1.4   Elect Director Robert E. La Blanc         For       For        Management
1.5   Elect Director Jay W. Lorsch              For       For        Management
1.6   Elect Director William E. McCracken       For       For        Management
1.7   Elect Director Lewis S. Ranieri           For       For        Management
1.8   Elect Director Walter P. Schuetze         For       For        Management
1.9   Elect Director John A. Swainson           For       For        Management
1.10  Elect Director Laura S. Unger             For       For        Management
1.11  Elect Director Ron Zambonini              For       For        Management
2     Ratify Change in Control of Severance     For       For        Management
      Policy
3     Ratify Auditors                           For       For        Management
4     Amend Omnibus Stock Plan                  For       For        Management


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

CADBURY SCHWEPPES PLC

Ticker:       CSGWF          Security ID:  GB0006107006
Meeting Date: MAY 18, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Final Dividend of 9 Pence Per     For       For        Management
      Ordinary Share
3     Approve Remuneration Report               For       For        Management
4     Re-elect Roger Carr as Director           For       For        Management
5     Re-elect Ken Hanna as Director            For       For        Management
6     Re-elect Todd Stitzer as Director         For       For        Management
7     Elect Lord Patten as Director             For       For        Management
8     Re-elect Baroness Wilcox as Director      For       For        Management
9     Reappoint Deloitte & Touche LLP as        For       For        Management
      Auditors of the Company
10    Authorise Board to Fix Remuneration of    For       For        Management
      Auditors
11    Approve Cadbury Schweppes International   For       For        Management
      Share Award Plan
12    Amend Cadbury Schweppes 2004 Long-Term    For       For        Management
      Incentive Plan
13    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 86,090,000
14    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 13,040,000
15    Authorise up to GBP 26,090,000 for Market For       For        Management
      Purchase


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

CANON INC.

Ticker:       7751           Security ID:  JP3242800005
Meeting Date: MAR 30, 2006   Meeting Type: Annual
Record Date:  DEC 31, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 32.5,
      Final JY 67.5, Special JY 0
2     Amend Articles to: Increase Number of     For       For        Management
      Internal Auditors
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
3.4   Elect Director                            For       For        Management
3.5   Elect Director                            For       For        Management
3.6   Elect Director                            For       For        Management
3.7   Elect Director                            For       For        Management
3.8   Elect Director                            For       For        Management
3.9   Elect Director                            For       For        Management
3.10  Elect Director                            For       For        Management
3.11  Elect Director                            For       For        Management
3.12  Elect Director                            For       For        Management
3.13  Elect Director                            For       For        Management
3.14  Elect Director                            For       For        Management
3.15  Elect Director                            For       For        Management
3.16  Elect Director                            For       For        Management
3.17  Elect Director                            For       For        Management
3.18  Elect Director                            For       For        Management
3.19  Elect Director                            For       For        Management
3.20  Elect Director                            For       For        Management
3.21  Elect Director                            For       For        Management
3.22  Elect Director                            For       For        Management
3.23  Elect Director                            For       For        Management
3.24  Elect Director                            For       For        Management
3.25  Elect Director                            For       For        Management
3.26  Elect Director                            For       For        Management
4.1   Appoint Internal Statutory Auditor        For       Against    Management
4.2   Appoint Internal Statutory Auditor        For       Against    Management
5     Approve Retirement Bonuses for Directors  For       Against    Management
      and Statutory Auditor


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

CHEVRON CORPORATION

Ticker:       CVX            Security ID:  166764100
Meeting Date: APR 26, 2006   Meeting Type: Annual
Record Date:  MAR 6, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Samuel H. Armacost         For       For        Management
1.2   Elect Director Linnet F. Deily            For       For        Management
1.3   Elect Director Robert E. Denham           For       For        Management
1.4   Elect Director Robert J. Eaton            For       For        Management
1.5   Elect Director Sam Ginn                   For       For        Management
1.6   Elect Director Franklyn G. Jenifer        For       For        Management
1.7   Elect Director Sam Nunn                   For       For        Management
1.8   Elect Director David J. O'Reilly          For       For        Management
1.9   Elect Director Donald B. Rice             For       For        Management
1.10  Elect Director Peter J. Robertson         For       For        Management
1.11  Elect Director Charles R. Shoemate        For       For        Management
1.12  Elect Director Ronald D. Sugar            For       For        Management
1.13  Elect Director Carl Ware                  For       For        Management
2     Ratify Auditors                           For       For        Management
3     Company-Specific-Reimbursement of         Against   For        Shareholder
      Stockholder Proposal
4     Report on Environmental Impact of         Against   Against    Shareholder
      Drilling in Sensitive Areas
5     Report on Political Contributions         Against   Against    Shareholder
6     Adopt an Animal Welfare Policy            Against   Against    Shareholder
7     Adopt a Human Rights Policy               Against   Against    Shareholder
8     Report on Remediation Expenses in Ecuador Against   Against    Shareholder


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

CHUNGHWA TELECOM CO. LTD.

Ticker:       CHT            Security ID:  17133Q205
Meeting Date: MAY 30, 2006   Meeting Type: Annual
Record Date:  APR 21, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     THE COMPANY S OPERATION REPORTS FOR 2005. None      Abstain    Management
2     THE SUPERVISORS  AUDIT REPORTS ON THE     None      Abstain    Management
      COMPANY S FINANCIAL STATEMENTS FOR 2005.
3     THE COMPANY S FINANCIAL STATEMENTS FOR    None      Abstain    Management
      2004 APPROVED BY THE MINISTRY OF AUDIT OF
      THE REPUBLIC OF CHINA.
4     THE COMPANY S IMPLEMENTATION OF ITS SHARE None      Abstain    Management
      REPURCHASE PROGRAM.
5     THE COMPANY S AMENDMENT TO ITS CODE OF    None      Abstain    Management
      ETHICS.
6     THE COMPANY S ISSUANCE OF PREFERRED       None      Abstain    Management
      SHARES BASED ON ARTICLE 12 OF THE
      TELECOMMUNICATIONS ACT.
7     THE COMPANY S OPERATION REPORTS AND       For       For        Management
      FINANCIAL STATEMENTS FOR YEAR 2005.
8     THE COMPANY S DISTRIBUTION OF EARNINGS    For       For        Management
      FOR YEAR 2005.
9     AMENDMENT TO THE ORDINANCE OF THE COMPANY For       Against    Management
      S ANNUAL GENERAL MEETING.
10    PROPOSAL TO INCREASE THE COMPANY S        For       For        Management
      CAPITAL THROUGH EARNINGS.
11    AMENDMENT TO THE COMPANY S ARTICLES OF    For       Against    Management
      INCORPORATION.
12    AMENDMENT TO THE COMPANY S PROCEDURES FOR For       Against    Management
      ACQUISITIONS OR DISPOSITION OF ASSETS.
13    PROPOSAL TO DISBURSE REMUNERATIONS TO THE For       For        Management
      COMPANY S DIRECTORS AND SUPERVISORS.
14    Other Business                            None      Against    Management


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

CITIGROUP INC.

Ticker:       C              Security ID:  172967101
Meeting Date: APR 18, 2006   Meeting Type: Annual
Record Date:  FEB 24, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director C. Michael Armstrong       For       For        Management
1.2   Elect Director Alain J.P. Belda           For       For        Management
1.3   Elect Director George David               For       For        Management
1.4   Elect Director Kenneth T. Derr            For       For        Management
1.5   Elect Director John M. Deutch             For       For        Management
1.6   Elect Director Roberto Hernandez Ramirez  For       For        Management
1.7   Elect Director Ann Dibble Jordan          For       For        Management
1.8   Elect Director Klaus Kleinfeld            For       For        Management
1.9   Elect Director Andrew N. Liveris          For       For        Management
1.10  Elect Director Dudley C. Mecum            For       For        Management
1.11  Elect Director Anne M. Mulcahy            For       For        Management
1.12  Elect Director Richard D. Parsons         For       For        Management
1.13  Elect Director Charles Prince             For       For        Management
1.14  Elect Director Dr. Judith Rodin           For       For        Management
1.15  Elect Director Robert E. Rubin            For       For        Management
1.16  Elect Director Franklin A. Thomas         For       For        Management
2     Ratify Auditors                           For       For        Management
3     Reduce Supermajority Vote Requirement     For       For        Management
4     Reduce Supermajority Vote Requirement     For       For        Management
5     Reduce Supermajority Vote Requirement     For       For        Management
6     End Issuance of Options and Prohibit      Against   Against    Shareholder
      Repricing
7     Report on Political Contributions         Against   Against    Shareholder
8     Report on Charitable Contributions        Against   Against    Shareholder
9     Performance-Based Equity Awards           Against   For        Shareholder
10    Reimbursement of Expenses Incurred by     Against   Against    Shareholder
      Shareholder(s)
11    Separate Chairman and CEO Positions       Against   For        Shareholder
12    Clawback of Payments Under Restatement    Against   Against    Shareholder


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

DIAGEO PLC (FORMERLY GUINNESS PLC)

Ticker:       DGEAF          Security ID:  GB0002374006
Meeting Date: OCT 18, 2005   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 18.2 Pence Per  For       For        Management
      Share
4     Re-elect Lord Blyth of Rowington as       For       For        Management
      Director
5     Re-elect Maria Lilja as Director          For       For        Management
6     Re-elect William Shanahan as Director     For       For        Management
7     Elect Franz Humer as Director             For       For        Management
8     Reappoint KPMG Audit Plc as Auditors and  For       Against    Management
      Authorise the Board to Determine Their
      Remuneration
9     Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 291,272,000
10    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 44,132,121
11    Authorise 305,041,222 Ordinary Shares for For       For        Management
      Market Purchase
12    Authorise the Company to Make EU          For       For        Management
      Political Organisation Donations up to
      GBP 200,000 and Incur EU Political
      Expenditure up to GBP 200,000
13    Adopt New Articles of Association         For       For        Management


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

ENI SPA

Ticker:                      Security ID:  IT0003132476
Meeting Date: MAY 25, 2006   Meeting Type: Annual
Record Date:  MAY 23, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements, Consolidated For       For        Management
      Financial Statements, and Statutory
      Reports for the Fiscal Year 2005
2     Approve Allocation of Income              For       For        Management
3     Authorize Share Repurchase Program;       For       For        Management
      Revoke Previously Granted Authorization
      to Repurchase Shares
4     Approve Stock Option Plan 2006-2008;      For       For        Management
      Authorize Reissuance of Repurchased
      Shares to Service the Stock Option Plan
5     Approve Director and/or Internal          For       For        Management
      Auditors' Indemnification/Liability
      Provisions


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

ENI SPA

Ticker:                      Security ID:  IT0003132476
Meeting Date: MAY 25, 2006   Meeting Type: Special
Record Date:  MAY 23, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Amend Articles Re: 13 (sub-paragraph 1),  For       For        Management
      17 (sub-paragraph 3), 24 (sub-paragraph
      1), and 28 (sub-paragraphs 2 and 4)


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

EXXON MOBIL CORP.

Ticker:       XOM            Security ID:  30231G102
Meeting Date: MAY 31, 2006   Meeting Type: Annual
Record Date:  APR 6, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Michael J. Boskin          For       Withhold   Management
1.2   Elect Director William W. George          For       For        Management
1.3   Elect Director James R. Houghton          For       Withhold   Management
1.4   Elect Director William R. Howell          For       Withhold   Management
1.5   Elect Director Reatha Clark King          For       Withhold   Management
1.6   Elect Director Philip E. Lippincott       For       For        Management
1.7   Elect Director Henry A. McKinnell, Jr.    For       Withhold   Management
1.8   Elect Director Marilyn Carlson Nelson     For       For        Management
1.9   Elect Director Samuel J. Palmisano        For       For        Management
1.10  Elect Director Walter V. Shipley          For       For        Management
1.11  Elect Director J. Stephen Simon           For       For        Management
1.12  Elect Director Rex W. Tillerson           For       For        Management
2     Ratify Auditors                           For       For        Management
3     Provide for Cumulative Voting             Against   For        Shareholder
4     Require a Majority Vote for the Election  Against   For        Shareholder
      of Directors
5     Company-Specific-Nominate Independent     Against   For        Shareholder
      Director with Industry Experience
6     Require Director Nominee Qualifications   Against   For        Shareholder
7     Non-Employee Director Compensation        Against   Against    Shareholder
8     Separate Chairman and CEO Positions       Against   Against    Shareholder
9     Review Executive Compensation             Against   Against    Shareholder
10    Link Executive Compensation to Social     Against   Against    Shareholder
      Issues
11    Report on Political Contributions         Against   Against    Shareholder
12    Report on Charitable Contributions        Against   Against    Shareholder
13    Amend Equal Employment Opportunity Policy Against   Against    Shareholder
      to Prohibit Discrimination Based on
      Sexual Orientation
14    Report on Damage Resulting from Drilling  Against   Against    Shareholder
      for Oil and gas in Protected Areas
15    Report Accountability for Company's       Against   Against    Shareholder
      Environmental Impacts due to Operation


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

FIRST DATA CORP.

Ticker:       FDC            Security ID:  319963104
Meeting Date: MAY 10, 2006   Meeting Type: Annual
Record Date:  MAR 13, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Daniel P. Burnham          For       For        Management
1.2   Elect Director Jack M. Greenberg          For       For        Management
1.3   Elect Director Courtney F. Jones          For       For        Management
1.4   Elect Director Charles T. Russell         For       For        Management
2     Elect Director David A. Coulter           For       For        Management
3     Elect Director Henry C. Duques            For       For        Management
4     Elect Director Peter B. Ellwood           For       For        Management
5     Ratify Auditors                           For       For        Management


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

FOSTER'S GROUP LTD (FORMERLY FOSTER'S BREWING GROUP LTD)

Ticker:       FGL            Security ID:  AU000000FGL6
Meeting Date: OCT 24, 2005   Meeting Type: Annual
Record Date:  OCT 22, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Elect Frank J. Swan as Director           For       For        Management
2     Elect Graeme W. McGregor as Director      For       For        Management
3     Renew Partial Takeover Provision          For       For        Management
4     Approve Increase in Remuneration of       None      For        Management
      Directors in the Amount of A$ 300,000
5     Approve Participation of Trevor L. O'Hoy, For       For        Management
      president and CEO, in the Company's Long
      Term Incentive Plan
6     Approve Remuneration Report               For       For        Management


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

FRANCE TELECOM SA

Ticker:       FNCTF          Security ID:  FR0000133308
Meeting Date: APR 21, 2006   Meeting Type: Annual/Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Financial Statements and          For       For        Management
      Discharge Directors
2     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 1 per Share
4     Approve Special Auditors' Report          For       For        Management
      Regarding Related-Party Transactions
5     Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
6     Amend Articles of Association Re: Attend  For       For        Management
      Board Meetings by Way of Videoconference
      and of Telecommunication
7     Amend Articles of Association Re: General For       For        Management
      Meeting Quorums
8     Authorize Capital Increase of up to EUR   For       For        Management
      200 Million to Participants of Orange
      S.A. Stock Option Plan in Connection with
      France Telecom Liquidity Agreement
9     Approve Restricted Stock Plan for Orange  For       Against    Management
      S.A. Option Holders
10    Approve Employee Savings-Related Share    For       Against    Management
      Purchase Plan
11    Approve Reduction in Share Capital via    For       For        Management
      Cancellation of Repurchased Shares
12    Authorize up to One Percent of Issued     For       Against    Management
      Capital for Use in Restricted Stock Plan
13    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities


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

FUJI PHOTO FILM CO. LTD.

Ticker:       4901           Security ID:  JP3814000000
Meeting Date: JUN 29, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 12.5,
      Final JY 12.5, Special JY 0
2     Approve Corporate Split Agreement and     For       For        Management
      Transfer of Sales Operations to Newly
      Created Wholly-Owned Subsidiary
3     Amend Articles to: Expand Business Lines  For       For        Management
      - Decrease Maximum Board Size - Change
      Location of Head Office - Change Company
      Name - Authorize Public Announcements in
      Electronic Format - Limit Rights of
      Odd-lot Holders - Limit Legal Liability
      of Outside Direct
4.1   Elect Director                            For       For        Management
4.2   Elect Director                            For       For        Management
4.3   Elect Director                            For       For        Management
4.4   Elect Director                            For       For        Management
4.5   Elect Director                            For       For        Management
4.6   Elect Director                            For       For        Management
4.7   Elect Director                            For       For        Management
4.8   Elect Director                            For       For        Management
4.9   Elect Director                            For       For        Management
4.10  Elect Director                            For       For        Management
4.11  Elect Director                            For       For        Management
4.12  Elect Director                            For       For        Management
4.13  Elect Director                            For       For        Management
4.14  Elect Director                            For       For        Management
4.15  Elect Director                            For       For        Management
4.16  Elect Director                            For       Against    Management
5.1   Appoint Internal Statutory Auditor        For       For        Management
5.2   Appoint Internal Statutory Auditor        For       Against    Management
6     Approve Retirement Bonuses for Directors  For       For        Management
7     Approve Retirement Bonuses for Statutory  For       Against    Management
      Auditors


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

GENERAL DYNAMICS CORP.

Ticker:       GD             Security ID:  369550108
Meeting Date: MAY 3, 2006    Meeting Type: Annual
Record Date:  MAR 10, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director N.D. Chabraja              For       For        Management
1.2   Elect Director J.S. Crown                 For       For        Management
1.3   Elect Director W.P. Fricks                For       For        Management
1.4   Elect Director C.H. Goodman               For       For        Management
1.5   Elect Director J.L. Johnson               For       For        Management
1.6   Elect Director G.A. Joulwan               For       For        Management
1.7   Elect Director P.G. Kaminski              For       For        Management
1.8   Elect Director J.M. Keane                 For       For        Management
1.9   Elect Director D.J. Lucas                 For       For        Management
1.10  Elect Director L.L. Lyles                 For       For        Management
1.11  Elect Director C.E. Mundy, Jr.            For       For        Management
1.12  Elect Director R. Walmsley                For       For        Management
2     Ratify Auditors                           For       For        Management
3     Require a Majority Vote for the Election  Against   For        Shareholder
      of Directors
4     Disqualification of Directors Who Fail to Against   For        Shareholder
      Receive Majority Vote
5     Separate Chairman and CEO Positions       Against   For        Shareholder
6     Report Political Contributions            Against   Against    Shareholder
7     Sustainability Report                     Against   Against    Shareholder


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

GLAXOSMITHKLINE PLC (FORMERLY GLAXO WELLCOME PLC )

Ticker:       GLAXF          Security ID:  GB0009252882
Meeting Date: MAY 17, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Elect Moncef Slaoui as Director           For       For        Management
4     Elect Tom de Swaan as Director            For       For        Management
5     Re-elect Lawrence Culp as Director        For       For        Management
6     Re-elect Sir Crispin Davis as Director    For       For        Management
7     Re-elect Ronaldo Schmitz as Director      For       For        Management
8     Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors of the Company
9     Authorize Audit Committee to Fix          For       For        Management
      Remuneration of Auditors
10    Approve the Company to Make EU Political  For       For        Management
      Organisation Donations up to GBP 50,000
      and Incur EU Political Expenditure up to
      GBP 50,000
11    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 485,201,557
12    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 72,780,233
13    Authorise 582,241,869 Ordinary Shares for For       For        Management
      Market Purchase


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

HEWLETT-PACKARD CO.

Ticker:       HPQ            Security ID:  428236103
Meeting Date: MAR 15, 2006   Meeting Type: Annual
Record Date:  JAN 17, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director P.C. Dunn                  For       For        Management
1.2   Elect Director L.T. Babbio, Jr.           For       For        Management
1.3   Elect Director S.M. Baldauf               For       For        Management
1.4   Elect Director R.A. Hackborn              For       For        Management
1.5   Elect Director J.H. Hammergren            For       For        Management
1.6   Elect Director M.V. Hurd                  For       For        Management
1.7   Elect Director G.A. Keyworth Ii           For       For        Management
1.8   Elect Director T.J. Perkins               For       For        Management
1.9   Elect Director R.L. Ryan                  For       For        Management
1.10  Elect Director L.S. Salhany               For       For        Management
1.11  Elect Director R.P. Wayman                For       For        Management
2     Ratify Auditors                           For       For        Management
3     Approve Executive Incentive Bonus Plan    For       For        Management
4     Require a Majority Vote for the Election  Against   Against    Shareholder
      of Directors
5     Claw-Back of Payments under Restatement   Against   Against    Shareholder


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

HONGKONG ELECTRIC HOLDINGS LTD.

Ticker:       HGKGF          Security ID:  HK0006000050
Meeting Date: DEC 13, 2005   Meeting Type: Special
Record Date:  DEC 7, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Disposal by the Company of        For       For        Management
      Interests in CKI/HEI Electricity
      Distribution Hldgs. (Australia) Pty. Ltd.
      and ETSA Utilities and All Related
      Transactions


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

HONGKONG ELECTRIC HOLDINGS LTD.

Ticker:       HGKGF          Security ID:  HK0006000050
Meeting Date: MAY 11, 2006   Meeting Type: Annual
Record Date:  MAY 3, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2a    Approve Final Dividend of HK$1.01 Per     For       For        Management
      Share
2b    Approve Special Dividend of HK$0.73 Per   For       For        Management
      Share
3a    Reelect Neil Douglas McGee as Director    For       For        Management
3b    Reelect Wan Chi-tin as Director           For       For        Management
3c    Reelect Ralph Raymond Shea as Director    For       For        Management
3d    Reelect Wong Chung-hin as Director        For       Abstain    Management
4     Reappoint KPMG as Auditors and Authorize  For       For        Management
      Board to Fix Their Remuneration
5     Approve Issuance of Equity or             For       For        Management
      Equity-Linked Securities without
      Preemptive Rights
6     Authorize Repurchase of Up to 10 Percent  For       For        Management
      of Issued Share Capital
7     Authorize Reissuance of Repurchased       For       For        Management
      Shares
8     Amend Articles of Association             For       For        Management


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

IMPERIAL TOBACCO GROUP PLC

Ticker:                      Security ID:  GB0004544929
Meeting Date: JAN 31, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 39.5 Pence Per  For       For        Management
      Ordinary Share
4     Re-elect Anthony Alexander as Director    For       For        Management
5     Re-elect Derek Bonham as Director         For       For        Management
6     Elect Colin Day as Director               For       For        Management
7     Re-elect Pierre Jungels as Director       For       For        Management
8     Elect Graham Blashill as Director         For       For        Management
9     Reappoint PricewaterhouseCoopers LLP as   For       For        Management
      Auditors of the Company
10    Authorise Board to Fix Remuneration of    For       For        Management
      the Auditors
11    Authorise Company to Make EU Political    For       For        Management
      Donations up to GBP 25,000 and Incur EU
      Political Expenditure up to GBP 25,000
12    Authorise Imperial Tobacco Limited to     For       For        Management
      Make EU Political Donations up to GBP
      25,000 and Incur EU Political Expenditure
      up to GBP 25,000
13    Authorise Imperial Tobacco International  For       For        Management
      Limited to Make EU Political Donations up
      to GBP 25,000 and Incur EU Political
      Expenditure up to GBP 25,000
14    Authorise Van Nelle Tabak Nederland B.V.  For       For        Management
      to Make EU Political Donations up to GBP
      25,000 and Incur EU Political Expenditure
      up to GBP 25,000
15    Authorise John Player & Sons Limited to   For       For        Management
      Make EU Political Donations up to GBP
      25,000 and Incur EU Political Expenditure
      up to GBP 25,000
16    Authorise Reemtsma Cigarettenfabriken     For       For        Management
      GmbH to Make EU Political Donations up to
      GBP 25,000 and Incur EU Political
      Expenditure up to GBP 25,000
17    Authorise Ets L. Lacroix Fils NV/SA to    For       For        Management
      Make EU Political Donations up to GBP
      25,000 and Incur EU Political Expenditure
      up to GBP 25,000
18    Amend Imperial Tobacco Group Long Term    For       For        Management
      Incentive Plan
19    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 24,300,000
20    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 3,645,000
21    Authorise 72,900,000 Ordinary Shares for  For       For        Management
      Market Purchase


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

INTERNATIONAL BUSINESS MACHINES CORP.

Ticker:       IBM            Security ID:  459200101
Meeting Date: APR 25, 2006   Meeting Type: Annual
Record Date:  FEB 24, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Cathleen Black             For       For        Management
1.2   Elect Director Kenneth I. Chenault        For       For        Management
1.3   Elect Director Juergen Dormann            For       For        Management
1.4   Elect Director Michael L. Eskew           For       Withhold   Management
1.5   Elect Director Shirley Ann Jackson        For       For        Management
1.6   Elect Director Minoru Makihara            For       For        Management
1.7   Elect Director Lucio A. Noto              For       For        Management
1.8   Elect Director James W. Owens             For       For        Management
1.9   Elect Director Samuel J. Palmisano        For       For        Management
1.10  Elect Director Joan E. Spero              For       For        Management
1.11  Elect Director Sidney Taurel              For       For        Management
1.12  Elect Director Charles M. Vest            For       For        Management
1.13  Elect Director Lorenzo H. Zambrano        For       Withhold   Management
2     Ratify Auditors                           For       For        Management
3     Provide for Cumulative Voting             Against   For        Shareholder
4     Evaluate Age Discrimination in Retirement Against   Against    Shareholder
      Plans
5     Time-Based Equity Awards                  Against   For        Shareholder
6     Increase Disclosure of Executive          Against   Against    Shareholder
      Compensation
7     Report on Outsourcing                     Against   Against    Shareholder
8     Implement/ Increase Activity on the China Against   Against    Shareholder
      Principles
9     Report on Political Contributions         Against   Against    Shareholder
10    Require a Majority Vote for the Election  Against   For        Shareholder
      of Directors
11    Adopt Simple Majority Vote                Against   For        Shareholder


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

KAO CORP.

Ticker:       4452           Security ID:  JP3205800000
Meeting Date: JUN 29, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 25,
      Final JY 25, Special JY 0
2     Amend Articles to: Expand Business Lines  For       For        Management
      - Limit Outside Statutory Auditors' Legal
      Liability - Authorize Public
      Announcements in Electronic Format -
      Limit Rights of Odd-Lot Holders
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
3.4   Elect Director                            For       For        Management
3.5   Elect Director                            For       For        Management
3.6   Elect Director                            For       For        Management
3.7   Elect Director                            For       For        Management
3.8   Elect Director                            For       For        Management
3.9   Elect Director                            For       For        Management
3.10  Elect Director                            For       For        Management
3.11  Elect Director                            For       For        Management
3.12  Elect Director                            For       For        Management
3.13  Elect Director                            For       For        Management
3.14  Elect Director                            For       For        Management
3.15  Elect Director                            For       For        Management
4     Appoint Internal Statutory Auditor        For       For        Management
5     Appoint Alternate Internal Statutory      For       For        Management
      Auditor
6     Approve Deep Discount Stock Option Plan   For       For        Management
      for Directors
7     Approve Employee Stock Option Plan        For       For        Management
8     Approve Retirement Bonuses for Directors  For       For        Management


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

KERRY GROUP PLC

Ticker:                      Security ID:  IE0004906560
Meeting Date: MAY 19, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Final Dividend                    For       For        Management
3a1   Re-Elect Director Denis Buckley           For       For        Management
3a2   Re-Elect Director Eugene McSweeney        For       Against    Management
3b1   Re-Elect Director Denis Cregan            For       Against    Management
3b2   Re-Elect Director Michael Dowling         For       For        Management
3b3   Re-Elect Director Hugh Friel              For       For        Management
3b4   Re-Elect Director Kevin Kelly             For       For        Management
3b5   Re-Elect Director Denis Wallis            For       Against    Management
3c1   Re-Elect Director Noel Greene             For       Against    Management
3c2   Re-Elect Director Roger Robbins           For       Against    Management
4     Authorize Board to Fix Remuneration of    For       For        Management
      Auditors
5     Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities with Preemptive
      Rights
6     Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities without
      Preemptive Rights
7     Authorize Share Repurchase up to 5        For       For        Management
      Percent of Issued Share Capital
8     Approve Kerry Group plc 2006 Long Term    For       For        Management
      Incentive Plan


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

LAFARGE

Ticker:       LFGEF          Security ID:  FR0000120537
Meeting Date: MAY 24, 2006   Meeting Type: Annual
Record Date:  MAY 23, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Financial Statements and          For       For        Management
      Statutory Reports
2     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 2.55 per Share
4     Approve Special Auditors' Report          For       For        Management
      Regarding Related-Party Transactions
5     Reelect Bernard Kasriel as Director       For       For        Management
6     Reelect Jacques Lefevre as Director       For       For        Management
7     Ratify Deloitte & Associes as Auditor     For       For        Management
8     Ratify Ernst & Young as Auditor           For       For        Management
9     Ratify BEAS as Alternate Auditor          For       For        Management
10    Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
11    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities


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

MCDONALD'S CORP.

Ticker:       MCD            Security ID:  580135101
Meeting Date: MAY 25, 2006   Meeting Type: Annual
Record Date:  MAR 27, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Robert A. Eckert           For       For        Management
1.2   Elect Director Enrique Hernandez, Jr.     For       For        Management
1.3   Elect Director Jeanne P. Jackson          For       For        Management
1.4   Elect Director Richard H. Lenny           For       For        Management
1.5   Elect Director Andrew J. McKenna          For       For        Management
1.6   Elect Director Sheila A. Penrose          For       For        Management
2     Ratify Auditors                           For       For        Management
3     Submit Severance Agreement (Change in     Against   For        Shareholder
      Control) to shareholder Vote
4     Identify Food Products Manufactured or    Against   Against    Shareholder
      Sold that Contain Genetically Engineered
      Ingredients


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

MELLON FINANCIAL CORP.

Ticker:       MEL            Security ID:  58551A108
Meeting Date: APR 18, 2006   Meeting Type: Annual
Record Date:  FEB 10, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Paul L. Cejas              For       For        Management
1.2   Elect Director Seward Prosser Mellon      For       For        Management
1.3   Elect Director Mark A. Nordenberg         For       For        Management
1.4   Elect Director W.E. Strickland, Jr.       For       For        Management
2     Approve Non-Employee Director Restricted  For       For        Management
      Stock Plan
3     Amend Vote Requirements to Amend          Against   For        Shareholder
      Articles/Bylaws/Charter
4     Ratify Auditors                           For       For        Management


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

MERRILL LYNCH & CO., INC.

Ticker:       MER            Security ID:  590188108
Meeting Date: APR 28, 2006   Meeting Type: Annual
Record Date:  FEB 27, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Alberto Cribiore           For       For        Management
1.2   Elect Director Aulana L. Peters           For       For        Management
1.3   Elect Director Charles O. Rossotti        For       For        Management
2     Ratify Auditors                           For       For        Management
3     Restore or Provide for Cumulative Voting  Against   For        Shareholder
4     Compensation- Director Compensation       Against   Against    Shareholder
5     Review Executive Compensation             Against   Against    Shareholder


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

MITSUI SUMITOMO INSURANCE CO. LTD

Ticker:       8752           Security ID:  JP3888200007
Meeting Date: JUN 28, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 4,
      Final JY 9, Special JY 0
2     Amend Articles to: Authorize Public       For       For        Management
      Announcements in Electronic Format -
      Limit Rights of Odd-lot Holders - Update
      Terminology to Match that of New
      Corporate Law - Limit Liability of
      Non-executive Statutory Auditors
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
3.4   Elect Director                            For       For        Management
3.5   Elect Director                            For       For        Management
3.6   Elect Director                            For       For        Management
3.7   Elect Director                            For       For        Management
3.8   Elect Director                            For       For        Management
3.9   Elect Director                            For       For        Management
3.10  Elect Director                            For       For        Management
3.11  Elect Director                            For       For        Management
3.12  Elect Director                            For       For        Management
3.13  Elect Director                            For       For        Management
4.1   Appoint Internal Statutory Auditor        For       For        Management
4.2   Appoint Internal Statutory Auditor        For       For        Management
5     Appoint Alternate Internal Statutory      For       For        Management
      Auditor


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

NATIONAL AUSTRALIA BANK LIMITED

Ticker:       NAB            Security ID:  AU000000NAB4
Meeting Date: JAN 30, 2006   Meeting Type: Annual
Record Date:  JAN 28, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Chairman's Address and a Presentation by  None      None       Management
      the Managing Director and Group CEO
2     Accept Financial Statements and Statutory None      None       Management
      Reports
3.1a  Elect Peter Duncan as Director            For       For        Management
3.1b  Elect John Thorn as Director              For       For        Management
3.1c  Elect Geoff Tomlinson as Director         For       For        Management
3.1d  Elect Malcolm Williamson as Director      For       For        Management
3.2a  Elect Patricia Cross as Director          For       For        Management
3.2b  Elect Kerry McDonald as Director          For       For        Management
4     Approve Remuneration Report               For       For        Management
5     Approve Employee Equity Plans             For       For        Management
6     Approve the Grant of Shares, Performance  For       For        Management
      Options and Performance Rights to the
      Managing Director and Group Chief
      Executive
7     Approve the Grant of Shares, Performance  For       For        Management
      Options and Performance Rights to the
      Executive Director & Chief Executive
      Officer, Australia
8     Approve the Grant of Shares, Performance  For       For        Management
      Options and Performance Rights -
      Director, Finance & Risk (an Executive
      Director)
9     Approve the Selective Buy-Back Scheme     For       For        Management
      Relating to Preference Shares Associated
      with the National Income Securities


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

NEW YORK TIMES CO., THE

Ticker:       NYT            Security ID:  650111107
Meeting Date: APR 18, 2006   Meeting Type: Annual
Record Date:  FEB 17, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Raul E. Cesan              For       Did Not    Management
                                                          Vote
1.2   Elect Director William E. Kennard         For       Did Not    Management
                                                          Vote
1.3   Elect Director James M. Kilts             For       Did Not    Management
                                                          Vote
1.4   Elect Director Doreen A. Toben            For       Did Not    Management
                                                          Vote
2     Ratify Auditors                           For       Did Not    Management
                                                          Vote


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

NISSAN MOTOR CO. LTD.

Ticker:       7201           Security ID:  JP3672400003
Meeting Date: JUN 27, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 14,
      Final JY 15, Special JY 0
2     Amend Articles to: Authorize Public       For       For        Management
      Announcements in Electronic Format -
      Limit Rights of Odd-lot Holders - Update
      Terminology to Match that of New
      Corporate Law - Limit Liability of
      Non-executive Statutory Auditors
3     Approve Executive Stock Option Plan       For       For        Management
4.1   Appoint Internal Statutory Auditor        For       Against    Management
4.2   Appoint Internal Statutory Auditor        For       For        Management
5     Approve Retirement Bonuses for Statutory  For       Against    Management
      Auditors


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

NORTHROP GRUMMAN CORP.

Ticker:       NOC            Security ID:  666807102
Meeting Date: MAY 17, 2006   Meeting Type: Annual
Record Date:  MAR 21, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director John T. Chain, Jr.         For       For        Management
1.2   Elect Director Vic Fazio                  For       For        Management
1.3   Elect Director Stephen E. Frank           For       For        Management
1.4   Elect Director Charles R. Larson          For       Withhold   Management
1.5   Elect Director Richard B. Myers           For       For        Management
1.6   Elect Director Ronald D. Sugar            For       For        Management
2     Ratify Auditors                           For       For        Management
3     Amend Articles/Bylaws/Charter-Non-Routine For       For        Management
4     Separate Chairman and CEO Positions       Against   Against    Shareholder


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

NOVARTIS AG

Ticker:                      Security ID:  CH0012005267
Meeting Date: FEB 28, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Discharge of Board and Senior     For       For        Management
      Management
3     Approve Allocation of Income and          For       For        Management
      Dividends of CHF 1.15 per Share
4     Approve CHF 5.1 Million Reduction in      For       For        Management
      Share Capital
5     Amend Articles to Remove 12-Year Term     For       For        Management
      Limit for Board Members
6.1   Accept Retirement of Helmut Sihler as     For       For        Management
      Director
6.2.a Reelect Srikant Datar as Director         For       For        Management
6.2.b Reelect William George as Director        For       For        Management
6.2.c Reelect Wendelin Wiedeking as Director    For       For        Management
6.2.d Reelect Rolf Zinkernagel as Director      For       For        Management
6.3   Elect Andreas von Planta as Director      For       For        Management
7     Ratify PricewaterhouseCoopers AG as       For       For        Management
      Auditors


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

PFIZER INC.

Ticker:       PFE            Security ID:  717081103
Meeting Date: APR 27, 2006   Meeting Type: Annual
Record Date:  MAR 1, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Michael S. Brown           For       For        Management
1.2   Elect Director M. Anthony Burns           For       Withhold   Management
1.3   Elect Director Robert N. Burt             For       For        Management
1.4   Elect Director W. Don Cornwell            For       For        Management
1.5   Elect Director William H. Gray, III       For       For        Management
1.6   Elect Director Constance J. Horner        For       For        Management
1.7   Elect Director William R. Howell          For       For        Management
1.8   Elect Director Stanley O. Ikenberry       For       For        Management
1.9   Elect Director George A. Lorch            For       Withhold   Management
1.10  Elect Director Henry A. McKinnell         For       For        Management
1.11  Elect Director Dana G. Mead               For       Withhold   Management
1.12  Elect Director Ruth J. Simmons            For       For        Management
1.13  Elect Director William C. Steere, Jr.     For       For        Management
2     Ratify Auditors                           For       For        Management
3     Reduce Supermajority Vote Requirement     For       For        Management
4     Establish Term Limits for Directors       Against   Against    Shareholder
5     Social Proposal                           Against   Against    Shareholder
6     Restore or Provide for Cumulative Voting  Against   For        Shareholder
7     Separate Chairman and CEO Positions       Against   For        Shareholder
8     Report on Political Contributions         Against   Against    Shareholder
9     Report on Animal Welfare Policy           Against   Against    Shareholder
10    Reort on Animal-based Testing             Against   Against    Shareholder


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

PHILIPS ELECTRONICS NV

Ticker:       PHGFF          Security ID:  NL0000009538
Meeting Date: MAR 30, 2006   Meeting Type: Annual
Record Date:  MAR 23, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Speech President                          None      None       Management
2a    Approve Financial Statements and          For       For        Management
      Statutory Reports
2b    Explanation of Policy on Additions To     None      None       Management
      Reserves and Dividends
2c    Approve Dividend of EUR 0.44 ($0.52)per   For       For        Management
      Share
2d    Approve Discharge of Management Board     For       For        Management
2e    Approve Discharge of Supervisory Board    For       For        Management
3a    Elect T.W.H. van Deursen to Management    For       For        Management
      Board
3b    Elect F.A. van Houten to Management Board For       For        Management
3c    Elect J.A. Karvinen to Management Board   For       For        Management
3d    Elect R.S. Provoost to Management Board   For       For        Management
3e    Elect A. Ragnetti to Management Board     For       For        Management
4a    Reelect W. de Kleuver to Supervisory      For       For        Management
      Board
4b    Reelect Richard Greenbury to Supervisory  For       For        Management
      Board
5a    Proposal to Amend the Remuneration Policy For       For        Management
      for Management Board
5b    Proposal to Amend the Maximum Percentage  For       For        Management
      of The Annual LTIP Pool-size To Be
      Allocated To Members of Management Board
6a    Cancellation of Shares Held by the        For       For        Management
      Company
6b    Amend Articles to Reflect Changes in      For       For        Management
      Capital
7     Grant Board Authority to Issue Shares Up  For       For        Management
      To 10 Percent of Issued Capital Plus
      Additional 10 Percent in Case of
      Takeover/Merger Restricting/Excluding
      Preemptive Rights
8     Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
9     Other Business (Non-Voting)               None      None       Management


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

REED ELSEVIER PLC(FORMERLY REED INTERNATIONAL PLC)

Ticker:       RUKEF          Security ID:  GB0007308355
Meeting Date: APR 18, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       Against    Management
3     Approve Final Dividend of 10.7 Pence Per  For       For        Management
      Share
4     Reappoint Deloitte Touche LLP as Auditors For       For        Management
      of the Company
5     Authorize Board to Fix Remuneration of    For       For        Management
      Auditors
6     Elect Lisa Hook as Director               For       For        Management
7     Re-elect Gerard van de Aast as Director   For       For        Management
8     Re-elect Mark Elliott as Director         For       For        Management
9     Re-elect Cees van Lede as Director        For       For        Management
10    Re-elect David Reid as Director           For       For        Management
11    Re-elect Patrick Tierney as Director      For       For        Management
12    Amend Reed Elsevier Group plc Long Term   For       Against    Management
      Incentive Share Option Scheme
13    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 24,300,000
14    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 7,900,000
15    Authorise 127,000,000 Ordinary Shares for For       For        Management
      Market Purchase


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

RENTOKIL INITIAL PLC(FORMERLY RENTOKIL GROUP PLC )

Ticker:                      Security ID:  GB00B082RF11
Meeting Date: MAY 18, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 5.25 Pence Per  For       For        Management
      Share
4i    Re-elect Douglas Flynn as Director        For       For        Management
4ii   Re-elect Peter Long as Director           For       For        Management
5i    Elect Andrew Macfarlane as Director       For       For        Management
5ii   Elect Duncan Tatton-Brown as Director     For       For        Management
6     Reappoint PricewaterhouseCoopers LLP as   For       Against    Management
      Auditors and Authorise the Board to
      Determine Their Remuneration
7     Approve Rentokil Initial plc Performance  For       For        Management
      Share Plan
8     Authorise 90,692,862 Ordinary Shares for  For       For        Management
      Market Purchase


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

ROLLS-ROYCE GROUP PLC ( FORMERLY ROLLS-ROYCE PLC)

Ticker:                      Security ID:  GB0032836487
Meeting Date: MAY 3, 2006    Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Elect Colin Smith as Director             For       For        Management
4     Re-elect Peter Byrom as Director          For       For        Management
5     Re-elect Sir John Rose as Director        For       For        Management
6     Re-elect Ian Strachan as Director         For       For        Management
7     Re-elect Carl Symon as Director           For       For        Management
8     Reappoint KPMG Audit plc as Auditors and  For       For        Management
      Authorise the Board to Determine Their
      Remuneration
9     Authorize Capitalization of Reserves up   For       For        Management
      to GBP 200,000,000 for Bonus Issue;
      Authorise Issue of Equity or
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 200,000,000
10    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 119,988,226
11    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 17,998,233
12    Authorise 176,956,928 Ordinary Shares for For       For        Management
      Market Purchase


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

ROYAL BANK OF SCOTLAND GROUP PLC (THE)

Ticker:                      Security ID:  GB0007547838
Meeting Date: APR 28, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Remuneration Report               For       For        Management
3     Approve Final Dividend of 53.1 Pence Per  For       For        Management
      Ordinary Share
4     Re-elect Bob Scott as Director            For       For        Management
5     Re-elect Peter Sutherland as Director     For       For        Management
6     Re-elect Colin Buchan as Director         For       For        Management
7     Elect Sir Tom McKillop as Director        For       For        Management
8     Elect Janis Kong as Director              For       For        Management
9     Elect Guy Whittaker as Director           For       For        Management
10    Elect Johnny Cameron as Director          For       For        Management
11    Elect Mark Fisher as Director             For       For        Management
12    Elect Bill Friedrich as Director          For       For        Management
13    Reappoint Deloitte & Touche LLP as        For       For        Management
      Auditors of the Company
14    Authorise Board to Fix Remuneration of    For       For        Management
      Auditors
15    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 266,482,100
16    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 39,972,315
17    Authorise 319,778,520 Ordinary Shares for For       For        Management
      Market Purchase
18    Approve EU Political Donations up to GBP  For       For        Management
      250,000 and Incur EU Political
      Expenditure up to GBP 250,000


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

ROYAL DUTCH SHELL PLC

Ticker:       RDS            Security ID:  780259206
Meeting Date: MAY 16, 2006   Meeting Type: Annual
Record Date:  MAR 30, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     ADOPTION OF ANNUAL REPORT AND ACCOUNTS    For       For        Management
2     APPROVAL OF REMUNERATION REPORT           For       For        Management
3.1   Elect  Director Jorma Ollila              For       For        Management
3.2   Elect  Director Nick Land                 For       For        Management
3.3   Elect  Director Lord Kerr                 For       For        Management
3.4   Elect  Director Jeroen Van Der Veer       For       For        Management
3.5   Elect  Director Rob Routs                 For       For        Management
3.6   Elect  Director Wim Kok                   For       For        Management
4     Ratify Auditors                           For       For        Management
5     REMUNERATION OF AUDITORS                  For       For        Management
6     AUTHORITY TO ALLOT SHARES                 For       For        Management
7     DISAPPLICATION OF PRE-EMPTION RIGHTS      For       For        Management
8     AUTHORITY TO PURCHASE OWN SHARES          For       For        Management
9     AUTHORITY FOR CERTAIN DONATIONS AND       For       For        Management
      EXPENDITURE
10    SHAREHOLDER RESOLUTION                    Against   Against    Shareholder


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

SANOFI-AVENTIS (FORMERLY SANOFI-SYNTHELABO )

Ticker:                      Security ID:  FR0000120578
Meeting Date: MAY 31, 2006   Meeting Type: Annual/Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Financial Statements and          For       For        Management
      Statutory Reports
2     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 1.52 per Share
4     Approve Special Auditors' Report          For       For        Management
      Regarding Related-Party Transactions
5     Reelect Lord Douro as Director            For       For        Management
6     Elect Gerard Le Fur as Director           For       For        Management
7     Ratify Ernst & Young Audit as Auditor     For       For        Management
8     Ratify Auditex as Alternate Auditor       For       For        Management
9     Approve Remuneration of Directors in the  For       For        Management
      Aggregate Amount of EUR 1.2 Million
10    Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
11    Approve Merger by Absorption of Rhone     For       For        Management
      Cooper by Sanofi-Aventis, Approve its
      Remuneration, and Approve Capital
      Increase in Connection with the Merger
12    Allocation of Merger Premium              For       For        Management
13    Acknowledge Definitive Realisation of     For       For        Management
      Merger on May 31, 2006, and Capital
      Increase in Connection with the Merger
14    Amend Articles of Association Re: Change  For       For        Management
      in Capital Pursuant to Items Above
15    Amend Articles of Association Board       For       For        Management
      Related Re: Term of Mandate of Chairman
16    Authorize Filling of Required             For       For        Management
      Documents/Other Formalities


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

SCHERING-PLOUGH CORP.

Ticker:       SGP            Security ID:  806605101
Meeting Date: MAY 19, 2006   Meeting Type: Annual
Record Date:  MAR 20, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Thomas J. Colligan         For       For        Management
1.2   Elect Director C. Robert Kidder           For       For        Management
1.3   Elect Director Carl E. Mundy, Jr.         For       For        Management
1.4   Elect Director Patricia F. Russo          For       For        Management
1.5   Elect Director Arthur F. Weinbach         For       For        Management
2     Ratify Auditor                            For       For        Management
3     Declassify the Board of Directors         For       For        Management
4     Approve Outside Director Stock            For       For        Management
      Awards/Options in Lieu of Cash
5     Approve Omnibus Stock Plan                For       For        Management
6     Require a Majority Vote for the Election  Against   For        Shareholder
      of Directors
7     Adopt Simple Majority Vote Requirement    Against   For        Shareholder


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

SK TELECOM

Ticker:       SKM            Security ID:  78440P108
Meeting Date: MAR 10, 2006   Meeting Type: Annual
Record Date:  DEC 30, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     APPROVAL OF THE BALANCE SHEETS, THE       For       For        Management
      STATEMENTS OF INCOME, AND STATEMENTS OF
      APPROPRIATIONS OF RETAINED EARNINGS OF
      THE 22ND FISCAL YEAR, AS SET FORTH IN
      ITEM 1 OF THE COMPANY S AGENDA ENCLOSED
      HEREWITH.
2     APPROVAL OF THE AMENDMENT TO THE ARTICLES For       For        Management
      OF INCORPORATION, AS SET FORTH IN ITEM 2
      OF THE COMPANY S AGENDA ENCLOSED
      HEREWITH.
3     APPROVAL OF THE CEILING AMOUNT OF THE     For       For        Management
      REMUNERATION OF DIRECTORS, AS SET FORTH
      IN THE COMPANY S AGENDA ENCLOSED
      HEREWITH.
4     APPROVAL OF THE APPOINTMENT OF            For       For        Management
      INDEPENDENT NON-EXECUTIVE DIRECTORS WHO
      WILL BE AUDIT COMMITTEE MEMBERS, AS SET
      FORTH IN ITEM 3 OF THE COMPANY S AGENDA
      ENCLOSED HEREWITH.


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

ST. PAUL TRAVELERS COMPANIES, INC., THE

Ticker:       STA            Security ID:  792860108
Meeting Date: MAY 3, 2006    Meeting Type: Annual
Record Date:  MAR 8, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director John H. Dasburg            For       For        Management
1.2   Elect Director Leslie B. Disharoon        For       For        Management
1.3   Elect Director Janet M. Dolan             For       For        Management
1.4   Elect Director Kenneth M. Duberstein      For       For        Management
1.5   Elect Director Jay S. Fishman             For       For        Management
1.6   Elect Director Lawrence G. Graev          For       For        Management
1.7   Elect Director Thomas R. Hodgson          For       For        Management
1.8   Elect Director Robert I. Lipp             For       Withhold   Management
1.9   Elect Director Blythe J. McGarvie         For       For        Management
1.10  Elect Director Glen D. Nelson, M.D.       For       For        Management
1.11  Elect Director Laurie J. Thomsen          For       For        Management
2     Ratify Auditors                           For       For        Management
3     Require a Majority Vote for the Election  Against   For        Shareholder
      of Directors
4     Report on Political Contributions         Against   Against    Shareholder


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

SUMITOMO ELECTRIC INDUSTRIES LTD.

Ticker:       5802           Security ID:  JP3407400005
Meeting Date: JUN 28, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 6,
      Final JY 7, Special JY 0
2     Amend Articles to: Update Terminology to  For       For        Management
      Match that of New Corporate Law - Limit
      Liability of Non-executive Statutory
      Auditors
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
3.4   Elect Director                            For       For        Management
3.5   Elect Director                            For       For        Management
3.6   Elect Director                            For       For        Management
3.7   Elect Director                            For       For        Management
3.8   Elect Director                            For       For        Management
3.9   Elect Director                            For       For        Management
3.10  Elect Director                            For       For        Management
3.11  Elect Director                            For       For        Management
4     Appoint Internal Statutory Auditor        For       Against    Management


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

SYNGENTA AG

Ticker:       SYENF          Security ID:  CH0011037469
Meeting Date: APR 19, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Amend Articles Re: Allow Electronic       For       For        Management
      Voting
2     Accept Financial Statements and Statutory For       For        Management
      Reports
3     Approve Discharge of Board and Senior     For       For        Management
      Management
4     Approve Allocation of Income and Omission For       For        Management
      of Dividends
5     Approve CHF 13 Million Reduction in Share For       For        Management
      Capital via Cancellation of Repurchased
      Shares
6     Approve CHF 343.3 Million Reduction in    For       For        Management
      Share Capital; Approve Capital Repayment
      of CHF 3.30 per Share
7     Amend Articles Re: Reduce Capital Holding For       For        Management
      Requirement for Submitting Shareholder
      Proposals
8     Authorize Repurchase of up to Ten Percent For       For        Management
      of Issued Share Capital
9.1   Reelect Peggy Bruzelius as Director       For       For        Management
9.2   Reelect Peter Doyle as Director           For       For        Management
9.3   Reelect Pierre Landolt as Director        For       For        Management
9.4   Elect Juerg Witmer as Director            For       For        Management
10    Ratify Ernst & Young AG as Auditors       For       For        Management


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

TAKEDA PHARMACEUTICAL CO. LTD.

Ticker:       4502           Security ID:  JP3463000004
Meeting Date: JUN 29, 2006   Meeting Type: Annual
Record Date:  MAR 31, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Allocation of Income, Including   For       For        Management
      the Following Dividends: Interim JY 53,
      Final JY 53, Special JY 0
2     Amend Articles to: Authorize Public       For       For        Management
      Announcements in Electronic Format -
      Update Terminology to Match that of New
      Corporate Law
3.1   Elect Director                            For       For        Management
3.2   Elect Director                            For       For        Management
3.3   Elect Director                            For       For        Management
4     Approve Retirement Bonus for Director     For       For        Management


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

TELECOM CORPORATION OF NEW ZEALAND LIMITED

Ticker:       TEL            Security ID:  NZTELE0001S4
Meeting Date: OCT 6, 2005    Meeting Type: Annual
Record Date:  OCT 4, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Authorize Board to Fix The Remuneration   For       For        Management
      of the Auditors
2     Elect Roderick Deane as Director          For       For        Management
3     Elect Paul Baines as Director             For       For        Management
4     Elect Patsy Reddy as Director             For       For        Management


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

TELEFONICA S.A. (FORMERLY TELEFONICA DE ESPANA, S.A.)

Ticker:       TEF            Security ID:  ES0178430E18
Meeting Date: JUN 20, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Individual and Consolidated       For       For        Management
      Financial Statements, Allocation of
      Income, and Discharge Directors
2     Approve Merger by Absorption of           For       For        Management
      Telefonica Moviles SA; Adopt Consolidated
      Tax Regime
3.1   Reelect Carlos Colomer Casellas as        For       For        Management
      Director
3.2   Reelect Isidro Faine Casas as Director    For       For        Management
3.3   Reelect Alfonso Ferrari Herrero as        For       For        Management
      Director
3.4   Reelect Luis Lada Diaz as Director        For       For        Management
3.5   Reelect Antonio Massanell Lavilla as      For       For        Management
      Director
3.6   Ratify the Appointment of David Arculus   For       For        Management
      as Director
3.7   Ratify the Appointment of Peter Erskine   For       For        Management
      as Director
3.8   Ratify the Appointment of Julio Linares   For       For        Management
      Lopez as Director
3.9   Ratify the Appointment of Vitalino Manuel For       For        Management
      Nafria Aznar as Director
4     Approve Equity-Based Incentive Plan       For       For        Management
5     Authorize Repurchase of Shares            For       For        Management
6     Authorize Issuance of Equity or           For       For        Management
      Equity-Linked Securities without
      Preemptive Rights
7     Authorize Board to Ratify and Execute     For       For        Management
      Approved Resolutions


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

TOTAL SA (FORMERLY TOTAL FINA ELF  S.A )

Ticker:       TTFNF          Security ID:  FR0000120271
Meeting Date: MAY 12, 2006   Meeting Type: Annual/Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Financial Statements and          For       For        Management
      Statutory Reports
2     Accept Consolidated Financial Statements  For       For        Management
      and Statutory Reports
3     Approve Allocation of Income and          For       For        Management
      Dividends of EUR 6.48 per Share
4     Approve Accounting Transfer from Special  For       For        Management
      Long-Term Capital Gains Reserve Account
      to Other Reserves Account
5     Approve Special Auditors' Report          For       For        Management
      Regarding Related-Party Transactions
6     Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
7     Reelect Anne Lauvergeon as Director       For       For        Management
8     Reelect Daniel Bouton as Director         For       Against    Management
9     Reelect Bertrand Collomb as Director      For       For        Management
10    Reelect Antoine Jeancourt-Galignani as    For       For        Management
      Director
11    Reelect Michel Pebereau as Director       For       Against    Management
12    Reelect Pierre Vaillaud as Director       For       For        Management
13    Elect Christophe de Margerie  as Director For       Against    Management
14    Approve Partial Spin-Off Agreement to     For       For        Management
      Arkema
15    Approve 1-for-4 Stock Split               For       For        Management
16    Amend Article 11 Regarding the Number of  For       For        Management
      Shares to Be Held By Directors
A     Amend Article 11 to Require a Majority of Against   For        Shareholder
      Independent Directors on Board
B     Grant a Second Board Mandate to an        Against   Against    Shareholder
      Employee Shareholder Representative


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

TYCO INTERNATIONAL LTD.

Ticker:       TYC            Security ID:  902124106
Meeting Date: MAR 9, 2006    Meeting Type: Annual
Record Date:  JAN 9, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     SET THE MAXIMUM NUMBER OF DIRECTORS AT 12 For       For        Management
2.1   Elect  Director Dennis C. Blair           For       For        Management
2.2   Elect  Director Edward D. Breen           For       For        Management
2.3   Elect  Director Brian Duperreault         For       For        Management
2.4   Elect  Director Bruce S. Gordon           For       For        Management
2.5   Elect  Director Rajiv L. Gupta            For       For        Management
2.6   Elect  Director John A. Krol              For       For        Management
2.7   Elect  Director Mackey J. Mcdonald        For       Withhold   Management
2.8   Elect  Director H. Carl Mccall            For       For        Management
2.9   Elect  Director Brendan R. O'Neill        For       For        Management
2.10  Elect  Director Sandra S. Wijnberg        For       For        Management
2.11  Elect  Director Jerome B. York            For       For        Management
3     AUTHORIZATION FOR THE BOARD OF DIRECTORS  For       For        Management
      TO APPOINT AN ADDITIONAL DIRECTOR TO FILL
      THE VACANCY PROPOSED TO BE CREATED ON THE
      BOARD
4     Ratify Auditors                           For       For        Management


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

UBS AG

Ticker:       UBS            Security ID:  CH0012032030
Meeting Date: APR 19, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Allocation of Income and          For       For        Management
      Dividends of CHF 3.20 per Share
3     Approve Discharge of Board and Senior     For       For        Management
      Management
4.1.1 Reelect Rolf Meyer as Director            For       For        Management
4.1.2 Reelect Ernesto Bertarelli as Director    For       For        Management
4.2.1 Elect Gabrielle Kaufmann-Kohler as        For       For        Management
      Director
4.2.2 Elect Joerg Wolle as Director             For       For        Management
4.3   Ratify Ernst & Young Ltd. as Auditors     For       For        Management
4.4   Ratify BDO Visura as Special Auditors     For       For        Management
5.1   Approve CHF 29.7 Million Reduction in     For       For        Management
      Share Capital via Cancellation of
      Repurchased Shares
5.2   Authorize Repurchase of Issued Share      For       For        Management
      Capital
5.3   Approve Reduction in Share Capital via    For       For        Management
      Capital Repayment of CHF 0.60 per Share
5.4   Approve 2:1 Stock Split                   For       For        Management
5.5.1 Amend Articles to Reflect Changes in      For       For        Management
      Capital
5.5.2 Amend Articles Re: Capital Holding        For       For        Management
      Requirement for Submitting Shareholder
      Proposals
6     Approve Creation of CHF 15 Million Pool   For       Against    Management
      of Capital without Preemptive Rights to
      Service Existing Stock Option Plan


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

UNILEVER N.V.

Ticker:                      Security ID:  NL0000009348
Meeting Date: MAY 8, 2006    Meeting Type: Annual
Record Date:  MAY 1, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Receive Report of Management Board and    None      None       Management
      Remuneration Committee
2     Approve Financial Statements and          For       For        Management
      Allocation of Income
3     Approve Discharge of Executive Directors  For       For        Management
4     Approve Discharge of Non-Executive        For       For        Management
      Directors
5a    Approve Share Equalization; Amend         For       For        Management
      Articles Re: Euro Conversion, Share
      Split, and Dematerialization; Amend
      Equalization Agreement
5b    Amend Articles Re: Change Board           For       For        Management
      Nomination Procedure
5c    Amend Deed of Mutual Covenants            For       For        Management
6a    Reelect P.J. Cescau as Executive Director For       For        Management
6b    Reelect C.J. van der Graaf as Executive   For       For        Management
      Director
6c    Reelect R.D. Kugler as Executive Director For       For        Management
6d    Reelect R.H.P. Markham as Executive       For       For        Management
      Director
7a    Reelect A. Burgmans as Non-Executive      For       For        Management
      Director
7b    Reelect The Rt Hon The Lord Brittan of    For       For        Management
      Spennithorne as Non-Executive Director
7c    Reelect The Rt Hon The Baroness Chalker   For       For        Management
      of Wallasey QC, DL as Non-Executive
      Director
7d    Reelect W. Dik as Non-Executive Director  For       For        Management
7e    Reelect Lord Simon of Highbury CBE as     For       For        Management
      Non-Executive Director
7f    Reelect J. van der Veer as Non-Executive  For       For        Management
      Director
7g    Elect C.E. Golden as Non-Executive        For       For        Management
      Director
7h    Elect B.E. Grote as Non-Executive         For       For        Management
      Director
7i    Elect J-C. Spinetta as Non-Executive      For       For        Management
      Director
7j    Elect K.J. Storm as Non-Executive         For       For        Management
      Director
8     Approve Remuneration as Non-Executive     For       For        Management
      Directors
9     Ratify PricewaterhouseCoopers Accountants For       For        Management
      N.V. as Auditors
10    Grant Board Authority to Issue Authorized For       For        Management
      yet Unissued Shares Restricting/Excluding
      Preemptive Rights up to 10 Percent of
      Issued Share Capital (20 Percent in
      Connection with Merger of Acquisition)
11    Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share Capital
12    Allow Questions                           None      None       Management


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

UNILEVER N.V.

Ticker:                      Security ID:  NL0000009348
Meeting Date: OCT 13, 2005   Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Open Meeting; Receive Announcements       None      None       Management
2     Receive Report by Nedamtrust(Non-Voting)  None      None       Management
3A    Receive Further Explanation of the        None      None       Management
      Desirability of a New Trust Office
3B    Introduction of the Proposed Members of   None      None       Management
      the Board of the Newly Established
      Foundation Stichting
      Administratie-kantoor Unilever N.V.
3C    Confidence in the Board                   For       For        Management
4     Approve Transfer of Administration of     For       For        Management
      Shares from Nedamtrust to a New
      Foundation, Stichting
      Administratiekantoor Unilever N.V.
5     Allow Questions                           None      None       Management
6     Close Meeting                             None      None       Management


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

VERIZON COMMUNICATIONS

Ticker:       VZ             Security ID:  92343V104
Meeting Date: MAY 4, 2006    Meeting Type: Annual
Record Date:  MAR 6, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director James R. Barker            For       For        Management
1.2   Elect Director Richard L. Carrion         For       For        Management
1.3   Elect Director Robert W. Lane             For       For        Management
1.4   Elect Director Sandra O. Moose            For       For        Management
1.5   Elect Director Joseph Neubauer            For       For        Management
1.6   Elect Director Donald T. Nicolaisen       For       For        Management
1.7   Elect Director Thomas H. O'Brien          For       For        Management
1.8   Elect Director Clarence Otis, Jr.         For       For        Management
1.9   Elect Director Hugh B. Price              For       For        Management
1.10  Elect Director Ivan G. Seidenberg         For       For        Management
1.11  Elect Director Walter V. Shipley          For       For        Management
1.12  Elect Director John R. Stafford           For       For        Management
1.13  Elect Director Robert D. Storey           For       For        Management
2     Ratify Auditors                           For       For        Management
3     Restore or Provide for Cumulative Voting  Against   For        Shareholder
4     Require a Majority Vote for the Election  Against   For        Shareholder
      of Directors
5     Require Majority of Independent Directors Against   Against    Shareholder
      on Board
6     Company-Specific-Directors on Common      Against   Against    Shareholder
      Boards
7     Separate Chairman and CEO Positions       Against   For        Shareholder
8     Performance-Based and/or Time-Based       Against   Against    Shareholder
      Equity Awards
9     Report on Political Contributions         Against   Against    Shareholder


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

VODAFONE GROUP PLC

Ticker:       VODPF          Security ID:  GB0007192106
Meeting Date: JUL 26, 2005   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Re-elect Lord MacLaurin of Knebworth as   For       For        Management
      Director
3     Re-elect Paul Hazen as Director           For       For        Management
4     Re-elect Arun Sarin as Director           For       For        Management
5     Re-elect Sir Julian Horn-Smith as         For       For        Management
      Director
6     Re-elect Peter Bamford as Director        For       For        Management
7     Re-elect Thomas Geitner as Director       For       For        Management
8     Re-elect Michael Boskin as Director       For       For        Management
9     Re-elect Lord Broers as Director          For       For        Management
10    Re-elect John Buchanan as Director        For       For        Management
11    Re-elect Penny Hughes as Director         For       For        Management
12    Re-elect Jurgen Schrempp as Director      For       For        Management
13    Re-elect Luc Vandevelde as Director       For       For        Management
14    Elect Sir John Bond as Director           For       For        Management
15    Elect Andrew Halford as Director          For       For        Management
16    Approve Final Dividend of 2.16 Pence Per  For       For        Management
      Ordinary Share
17    Approve Remuneration Report               For       For        Management
18    Reappoint Deloitte & Touche LLP as        For       For        Management
      Auditors of the Company
19    Authorise the Audit Committee to Fix      For       For        Management
      Remuneration of the Auditors
20    Authorise the Company and Any Company     For       For        Management
      Which is or Becomes a Subsidiary of the
      Company to Make EU Political Organisation
      Donations up to GBP 50,000 and Incur EU
      Political Expenditure up to GBP 50,000
21    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      USD 900,000,000
22    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of USD 320,000,000
23    Authorise 6,400,000,000 Ordinary Shares   For       For        Management
      for Market Purchase
24    Amend Memorandum of Association and       For       For        Management
      Articles of Association Re:
      Indemnification of Directors
25    Approve the Vodafone Global Incentive     For       For        Management
      Plan


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

WM MORRISON SUPERMARKETS PLC

Ticker:                      Security ID:  GB0006043169
Meeting Date: MAY 25, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Final Dividend of 3.075 Pence Per For       For        Management
      Ordinary Share
3     Re-elect Mark Gunter as Director          For       For        Management
4     Re-elect Robert Stott as Director         For       For        Management
5     Elect Richard Pennycook as Director       For       For        Management
6     Elect Brian Flanagan as Director          For       For        Management
7     Elect Paul Manduca as Director            For       For        Management
8     Elect Susan Murray as Director            For       For        Management
9     Elect Nigel Robertson as Director         For       For        Management
10    Approve Remuneration Report               For       Against    Management
11    Reappoint KPMG Audit Plc as Auditors and  For       For        Management
      Authorise the Board to Determine Their
      Remuneration
12    Approve Increase in Remuneration of       For       For        Management
      Non-Executive Directors to GBP 1,000,000
13    Authorise 151,900,000 Ordinary Shares and For       For        Management
      42,061 Convertible Preference Shares for
      Market Purchase
14    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 80,200,000
15    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 13,366,452


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

WOLTERS KLUWER NV

Ticker:                      Security ID:  NL0000395887
Meeting Date: APR 26, 2006   Meeting Type: Annual
Record Date:  APR 19, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Open Meeting                              None      None       Management
2a    Receive Report of Management Board        None      None       Management
2b    Receive Report of Supervisory Board       None      None       Management
3a    Approve Financial Statements and          For       For        Management
      Statutory Report
3b    Approve Dividends of EUR 0.55 Per Share   For       For        Management
      in Cash or in the Form of Ordinary Shares
4a    Approve Discharge of Management Board     For       For        Management
4b    Approve Discharge of Supervisory Board    For       For        Management
5     Amend Articles Re: Terminate the          For       For        Management
      Administration of Shares
6a    Reelect A. Baan to Supervisory Board      For       For        Management
6b    Elect S.B. James to Supervisory Board     For       For        Management
7a    Grant Board Authority to Issue Shares Up  For       For        Management
      To 10 Percent of Issued Capital Plus
      Additional 10 Percent in Case of
      Takeover/Merger
7b    Authorize Board to Exclude Preemptive     For       For        Management
      Rights from Issuance  Under Item 7a
8     Authorize Repurchase of Up to Ten Percent For       For        Management
      of Issued Share  Capital
9     Proposal that English be Designated as    For       For        Management
      the Official Language of the Annual
      Report and the Financial Statements
10    Other Business (Non-Voting)               None      None       Management
11    Close Meeting                             None      None       Management


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

WOLTERS KLUWER NV

Ticker:                      Security ID:  NL0000395887
Meeting Date: AUG 15, 2005   Meeting Type: Special
Record Date:  AUG 9, 2005

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Open Meeting                              None      None       Management
2     Elect L.P. Forman to Supervisory Board    For       For        Management
3     Other Business (Non-Voting)               None      None       Management
4     Close Meeting                             None      None       Management


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

WPP GROUP PLC

Ticker:                      Security ID:  GB00B0J6N107
Meeting Date: JUN 27, 2006   Meeting Type: Annual
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Accept Financial Statements and Statutory For       For        Management
      Reports
2     Approve Final Dividend of 6.34 Pence Per  For       For        Management
      Ordinary Share
3     Elect Colin Day as Director               For       For        Management
4     Re-elect Philip Lader as Director         For       For        Management
5     Re-elect Esther Dyson as Director         For       For        Management
6     Re-elect Orit Gadiesh as Director         For       For        Management
7     Re-elect David Komansky as Director       For       For        Management
8     Re-elect Christopher Mackenzie as         For       For        Management
      Director
9     Re-elect Stanley Morten as Director       For       For        Management
10    Re-elect Koichiro Naganuma as Director    For       For        Management
11    Re-elect Lubna Olayan as Director         For       For        Management
12    Re-elect John Quelch as Director          For       For        Management
13    Re-elect Jeffrey Rosen as Director        For       For        Management
14    Re-elect Paul Spencer as Director         For       For        Management
15    Reappoint Deloitte & Touche LLP as        For       For        Management
      Auditors and Authorise the Board to
      Determine Their Remuneration
16    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities with Pre-emptive
      Rights up to Aggregate Nominal Amount of
      GBP 48,704,061.37
17    Authorise 125,022,397 Ordinary Shares for For       For        Management
      Market Purchase
18    Authorise Issue of Equity or              For       For        Management
      Equity-Linked Securities without
      Pre-emptive Rights up to Aggregate
      Nominal Amount of GBP 6,251,119.84
19    Approve Remuneration Report               For       For        Management


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

WPP GROUP PLC

Ticker:                      Security ID:  GB0009740423
Meeting Date: SEP 26, 2005   Meeting Type: Special
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Scheme of Arrangement; Reduction  For       For        Management
      and Increase of Cap.; Issue Equity with
      Pre-emp. Rights up to GBP 175M; Amend
      Art. of Assoc; Amend Incentive Schemes;
      Approve New WPP Reduction of Cap.; Change
      Co. Name to WPP 2005 plc; Approve
      De-listing of Shares
2     Approve WPP 2005 Executive Stock Option   For       For        Management
      Plan
3     Approve WPP 2005 Worldwide Ownership Plan For       For        Management
4     Amend WPP Group plc 2004 Leadership       For       For        Management
      Equity Acquisition Plan
5     Amend WPP Performance Share Plan          For       For        Management


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

WPP GROUP PLC

Ticker:                      Security ID:  GB0009740423
Meeting Date: SEP 26, 2005   Meeting Type: Court
Record Date:

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Approve Scheme of Arrangement             For       For        Management


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

WYETH

Ticker:       WYE            Security ID:  983024100
Meeting Date: APR 27, 2006   Meeting Type: Annual
Record Date:  MAR 3, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Robert Essner              For       For        Management
1.2   Elect Director John D. Feerick            For       For        Management
1.3   Elect Director Frances D. Fergusson,      For       For        Management
      Ph.D.
1.4   Elect Director Victor F. Ganzi            For       For        Management
1.5   Elect Director Robert Langer              For       For        Management
1.6   Elect Director John P. Mascotte           For       For        Management
1.7   Elect Director Mary Lake Polan, M.D.,     For       For        Management
      Ph.D.
1.8   Elect Director Gary L. Rogers             For       For        Management
1.9   Elect Director Ivan G. Seidenberg         For       For        Management
1.10  Elect Director Walter V. Shipley          For       For        Management
1.11  Elect Director John R. Torell, III        For       For        Management
2     Ratify Auditors                           For       For        Management
3     Approve Non-Employee Director Omnibus     For       For        Management
      Stock Plan
4     Report on Product Availability in Canada  Against   Against    Shareholder
5     Report on Political Contributions         Against   Against    Shareholder
6     Report on Animal welfare Policy           Against   Against    Shareholder
7     Require a Majority Vote for the Election  Against   For        Shareholder
      of Directors
8     Separate Chairman and CEO Positions       Against   Against    Shareholder
9     Adopt Simple Majority Vote Requirement    Against   Against    Shareholder


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

XL CAPITAL LTD (FORMERLY EXEL LTD. )

Ticker:       XL             Security ID:  G98255105
Meeting Date: APR 28, 2006   Meeting Type: Annual
Record Date:  MAR 15, 2006

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect  Director Dale R. Comey             For       For        Management
1.2   Elect  Director Brian M. O'Hara           For       For        Management
1.3   Elect  Director John T. Thornton          For       For        Management
2     TO RATIFY THE APPOINTMENT OF              For       For        Management
      PRICEWATERHOUSECOOPERS LLP, NEW YORK, NEW
      YORK TO ACT AS THE INDEPENDENT REGISTERED
      PUBLIC ACCOUNTING FIRM OF THE COMPANY FOR
      THE FISCAL YEAR ENDING DECEMBER 31, 2006.
3     Other Business                            For       Against    Management

========== END NPX REPORT



                                   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 Global Dividend Growth Securities
              ------------------------------------------------

By (Signature and Title):


                             /s/ Ronald E. Robison

             President and Principal Executive Officer - Office of the Funds
        ------------------------------------------------------------------------

Date August 28, 2006
     ---------------

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