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BNY Mellon Appreciation Fund

Filed: 18 Aug 08, 8:00pm
UNITED STATES 
SECURITIES AND EXCHANGE COMMISSION 
Washington, DC 20549 
FORM N-PX 
ANNUAL REPORT OF PROXY VOTING RECORD OF 
REGISTERED MANAGEMENT INVESTMENT COMPANY 
Investment Company Act file number: 811- 3081 
Dreyfus Appreciation Fund, Inc. 
(Exact name of registrant as specified in charter) 
c/o The Dreyfus Corporation 
200 Park Avenue 
New York, New York 10166 

(Address of principal executive offices) (Zip code) 
Michael A. Rosenberg, Esq. 
200 Park Avenue 
New York, New York 10166 

(Name and address of agent for service)
Registrant's telephone number, including area code: (212) 922-6000 
Date of fiscal year end: 12/31
Date of reporting period: July 1, 2007-June 30, 2008


Item 1. Proxy Voting Record

======================= DREYFUS APPRECIATION FUND, INC. ========================

ABBOTT LABORATORIES         
 
Ticker: ABT  Security ID: 002824100     
Meeting Date: APR 25, 2008  Meeting Type: Annual     
Record Date: FEB 26, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director R.S. Austin  For  For  Management 
1.2  Elect Director W.M. Daley  For  For  Management 
1.3  Elect Director W.J. Farrell  For  For  Management 
1.4  Elect Director H.L. Fuller  For  For  Management 
1.5  Elect Director W.A. Osborn  For  For  Management 
1.6  Elect Director D.A.L. Owen  For  For  Management 
1.7  Elect Director B. Powell, Jr.  For  For  Management 
1.8  Elect Director W.A. Reynolds  For  For  Management 
1.9  Elect Director R.S. Roberts  For  For  Management 
1.10  Elect Director S.C. Scott, III  For  For  Management 
1.11  Elect Director W.D. Smithburg  For  For  Management 
1.12  Elect Director G.F. Tilton  For  For  Management 
1.13  Elect Director M.D. White  For  For  Management 
 Ratify Auditors    For  For  Management 
 Amend Human Rights Policy to Address  Against  Against  Shareholder 
  Access to Medicines         
 Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       

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ALTRIA GROUP, INC.         
 
Ticker: MO  Security ID: 02209S103     
Meeting Date: MAY 28, 2008  Meeting Type: Annual     
Record Date: APR 4, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director Elizabeth E. Bailey  For  For  Management 
 Elect Director Gerald L. Baliles  For  For  Management 
 Elect Director Dinyar S. Devitre  For  For  Management 
 Elect Director Thomas F. Farrell II  For  For  Management 
 Elect Director Robert E. R. Huntley  For  For  Management 
 Elect Director Thomas W. Jones  For  For  Management 
 Elect Director George Muñoz  For  For  Management 
 Elect Director Michael E. Szymanczyk  For  For  Management 
 Ratify Auditors    For  For  Management 
10  Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       
11  Provide for Cumulative Voting  Against  Against  Shareholder 
12  Adopt the Marketing and Advertising  Against  Against  Shareholder 
  Provisions of the U.S. Master Settlement     
  Agreement Globally         
13  Cease Advertising Campaigns Oriented to  Against  Against  Shareholder 
  Prevent Youth Smoking       


14  Implement the "Two Cigarette" Marketing  Against  Against  Shareholder 
  Approach       
15  Adopt Principles for Health Care Reform  Against  Against  Shareholder 

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AMERICAN EXPRESS CO.         
 
Ticker: AXP  Security ID: 025816109     
Meeting Date: APR 28, 2008  Meeting Type: Annual     
Record Date: FEB 29, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director Daniel F. Akerson  For  For  Management 
1.2  Elect Director Charlene Barshefsky  For  For  Management 
1.3  Elect Director Ursula M. Burns  For  For  Management 
1.4  Elect Director Kenneth I. Chenault  For  For  Management 
1.5  Elect Director Peter Chernin  For  For  Management 
1.6  Elect Director Jan Leschly  For  For  Management 
1.7  Elect Director Richard C. Levin  For  For  Management 
1.8  Elect Director Richard A. McGinn  For  For  Management 
1.9  Elect Director Edward D. Miller  For  For  Management 
1.10  Elect Director Steven S Reinemund  For  For  Management 
1.11  Elect Director Robert D. Walter  For  For  Management 
1.12  Elect Director Ronald A. Williams  For  For  Management 
 Ratify Auditors    For  For  Management 
 Require Majority Vote for Non-Contested  For  For  Management 
  Election         
 Reduce Supermajority Vote Requirement  For  For  Management 
 Reduce Supermajority Vote Requirement  For  For  Management 
 Reduce Supermajority Vote Requirement  For  For  Management 
 Reduce Supermajority Vote Requirement  For  For  Management 
 Provide for Cumulative Voting  Against  Against  Shareholder 

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AMERICAN INTERNATIONAL GROUP, INC.       
 
Ticker: AIG  Security ID:  026874107     
Meeting Date: MAY 14, 2008  Meeting Type: Annual     
Record Date: MAR 28, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director Stephen F. Bollenbach  For  For  Management 
 Elect Director Martin S. Feldstein  For  For  Management 
 Elect Director Ellen V. Futter  For  For  Management 
 Elect Director Richard C. Holbrooke  For  For  Management 
 Elect Director Fred H. Langhammer  For  For  Management 
 Elect Director George L. Miles, Jr.  For  For  Management 
 Elect Director Morris W. Offit  For  For  Management 
 Elect Director James F. Orr, III  For  For  Management 
 Elect Director Virginia M. Rometty  For  For  Management 
10  Elect Director Martin J. Sullivan  For  For  Management 
11  Elect Director Michael H. Sutton  For  For  Management 
12  Elect Director Edmund S.W. Tse  For  For  Management 


13  Elect Director Robert B. Willumstad  For  For  Management 
14  Ratify Auditors  For  For  Management 
15  Report on Human Rights Policies Relating  Against  Against  Shareholder 
  to Water Use       
16  Report on Political Contributions  Against  Against  Shareholder 

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AMERIPRISE FINANCIAL, INC.         
 
Ticker: AMP  Security ID:  03076C106     
Meeting Date: APR 23, 2008  Meeting Type: Annual     
Record Date: FEB 25, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director W. Walker Lewis  For  For  Management 
 Elect Director Siri S. Marshall  For  For  Management 
 Elect Director William H. Turner  For  For  Management 
 Ratify Auditors    For  For  Management 

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ANHEUSER-BUSCH COMPANIES, INC.       
 
Ticker: BUD  Security ID: 035229103     
Meeting Date: APR 23, 2008  Meeting Type: Annual     
Record Date: FEB 29, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director August A. Busch III  For  For  Management 
1.2  Elect Director August A. Busch IV  For  For  Management 
1.3  Elect Director Carlos Fernandez G.  For  For  Management 
1.4  Elect Director James R. Jones  For  For  Management 
1.5  Elect Director Joyce M. Roche  For  For  Management 
1.6  Elect Director Henry Hugh Shelton  For  For  Management 
1.7  Elect Director Patrick T. Stokes  For  For  Management 
1.8  Elect Director Andrew C. Taylor  For  For  Management 
1.9  Elect Director Douglas A. Warner III  For  For  Management 
 Approve Omnibus Stock Plan  For  Against  Management 
 Ratify Auditors    For  For  Management 
 Report on Charitable Contributions  Against  Against  Shareholder 
 Amend Articles/Bylaws/Charter -- Call  Against  For  Shareholder 
  Special Meetings         
 Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       

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APPLE, INC.     
 
Ticker:  AAPL  Security ID: 037833100 
Meeting Date: MAR 4, 2008  Meeting Type: Annual 
Record Date:  JAN 15, 2008   


 Proposal  Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director William V. Campbell  For  For  Management 
1.2  Elect Director Millard S. Drexler  For  For  Management 
1.3  Elect Director Albert A. Gore, Jr.  For  For  Management 
1.4  Elect Director Steven P. Jobs  For  For  Management 
1.5  Elect Director Andrea Jung  For  For  Management 
1.6  Elect Director Arthur D. Levinson  For  For  Management 
1.7  Elect Director Eric E. Schmidt  For  For  Management 
1.8  Elect Director Jerome B. York  For  For  Management 
 Ratify Auditors  For  For  Management 
 Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       
 Amend Bylaws to Establish a Board  Against  Against  Shareholder 
  Committee on Sustainability       

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AUTOMATIC DATA PROCESSING, INC.       
 
Ticker: ADP  Security ID:  053015103     
Meeting Date: NOV 13, 2007  Meeting Type: Annual     
Record Date: SEP 14, 2007         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director Gregory D. Brenneman  For  For  Management 
1.2  Elect Director Leslie A. Brun  For  For  Management 
1.3  Elect Director Gary C. Butler  For  For  Management 
1.4  Elect Director Leon G. Cooperman  For  For  Management 
1.5  Elect Director Eric C. Fast  For  For  Management 
1.6  Elect Director R. Glenn Hubbard  For  For  Management 
1.7  Elect Director John P. Jones  For  For  Management 
1.8  Elect Director Frederic V. Malek  For  For  Management 
1.9  Elect Director Gregory L. Summe  For  For  Management 
1.10  Elect Director Henry Taub  For  For  Management 
 Ratify Auditors    For  For  Management 

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BANK OF AMERICA CORP.         
 
Ticker: BAC  Security ID:  060505104     
Meeting Date: APR 23, 2008  Meeting Type: Annual     
Record Date: FEB 27, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director William Barnet, III  For  For  Management 
 Elect Director Frank P. Bramble, Sr.  For  For  Management 
 Elect Director John T. Collins  For  For  Management 
 Elect Director Gary L. Countryman  For  For  Management 
 Elect Director Tommy R. Franks  For  For  Management 
 Elect Director Charles K. Gifford  For  For  Management 
 Elect Director Kenneth D. Lewis  For  For  Management 
 Elect Director Monica C. Lozano  For  For  Management 
 Elect Director Walter E. Massey  For  For  Management 
10  Elect Director Thomas J. May  For  For  Management 


11  Elect Director Patricia E. Mitchell  For  For  Management 
12  Elect Director Thomas M. Ryan  For  For  Management 
13  Elect Director O. Temple Sloan, Jr.  For  For  Management 
14  Elect Director Meredith R. Spangler  For  For  Management 
15  Elect Director Robert L. Tillman  For  For  Management 
16  Elect Director Jackie M. Ward  For  For  Management 
17  Ratify Auditors  For  For  Management 
18  Limit/Prohibit Executive Stock-Based  Against  Against  Shareholder 
  Awards       
19  Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       
20  Limit Executive Compensation  Against  Against  Shareholder 
21  Provide for Cumulative Voting  Against  Against  Shareholder 
22  Require Independent Board Chairman  Against  Against  Shareholder 
23  Amend Articles/Bylaws/Charter -- Call  Against  Against  Shareholder 
  Special Meetings       
24  Report on the Equator Principles  Against  Against  Shareholder 
25  Amend Bylaws to Establish a Board  Against  Against  Shareholder 
  Committee on Human Rights       

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BERKSHIRE HATHAWAY INC.         
 
Ticker: BRK.A  Security ID:  084670108     
Meeting Date: MAY 3, 2008  Meeting Type: Annual     
Record Date: MAR 5, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director Warren E. Buffett  For  For  Management 
1.2  Elect Director Charles T. Munger  For  For  Management 
1.3  Elect Director Howard G. Buffett  For  For  Management 
1.4  Elect Director Susan L. Decker  For  For  Management 
1.5  Elect Director William H. Gates III  For  For  Management 
1.6  Elect Director David S. Gottesman  For  For  Management 
1.7  Elect Director Charlotte Guyman  For  For  Management 
1.8  Elect Director Donald R. Keough  For  For  Management 
1.9  Elect Director Thomas S. Murphy  For  For  Management 
1.10  Elect Director Ronald L. Olson  For  For  Management 
1.11  Elect Director Walter Scott, Jr.  For  For  Management 

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BP PLC         
 
Ticker: BP  Security ID: 055622104     
Meeting Date: APR 17, 2008  Meeting Type: Annual     
Record Date: FEB 15, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 TO RECEIVE FINANCIAL STATEMENTS AND  For  For  Management 
  STATUTORY REPORTS.         
 TO APPROVE THE DIRECTORS' REMUNERATION  For  Abstain  Management 
  REPORT.         
3.1  Elect Director Mr A Burgmans  For  For  Management 


3.2  Elect  Director Mrs C B Carroll  For  For  Management 
3.3  Elect  Director Sir William Castell  For  For  Management 
3.4  Elect  Director Mr I C Conn  For  For  Management 
3.5  Elect  Director Mr G David  For  For  Management 
3.6  Elect  Director Mr E B Davis, Jr  For  For  Management 
3.7  Elect  Director Mr D J Flint  For  For  Management 
3.8 ��Elect  Director Dr B E Grote  For  For  Management 
3.9  Elect  Director Dr A B Hayward  For  For  Management 
3.10  Elect  Director Mr A G Inglis  For  For  Management 
3.11  Elect  Director Dr D S Julius  For  For  Management 
3.12  Elect  Director Sir Tom Mckillop  For  For  Management 
3.13  Elect  Director Sir Ian Prosser  For  For  Management 
3.14  Elect  Director Mr P D Sutherland  For  For  Management 
 REAPPOINT ERNST & YOUNG LLP AS AUDITORS  For  For  Management 
  AND AUTHORISE BOARD TO FIX THEIR       
  REMUNERATION.       
 ADOPT NEW ARTICLES OF ASSOCIATION.  For  For  Management 
 SPECIAL RESOLUTION TO GIVE LIMITED  For  For  Management 
  AUTHORITY FOR THE PURCHASE OF ITS OWN       
  SHARES BY THE COMPANY.       
 SPECIAL RESOLUTION TO GIVE LIMITED  For  For  Management 
  AUTHORITY TO ALLOT SHARES UP TO A       
  SPECIFIED AMOUNT.       
 SPECIAL RESOLUTION TO GIVE AUTHORITY TO  For  For  Management 
  ALLOT A LIMITED NUMBER OF SHARES FOR CASH     
  FREE OF PRE-EMPTION RIGHTS.       

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CATERPILLAR INC.           
 
Ticker: CAT  Security ID:  149123101     
Meeting Date: JUN 11, 2008  Meeting Type: Annual     
Record Date: APR 14, 2008           
 
 Proposal      Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director W. Frank Blount    For  For  Management 
1.2  Elect Director John R. Brazil    For  For  Management 
1.3  Elect Director Eugene V. Fife    For  For  Management 
1.4  Elect Director Gail D. Fosler    For  For  Management 
1.5  Elect Director Peter A. Magowan    For  For  Management 
 Ratify Auditors      For  For  Management 
 Declassify the Board of Directors    Against  For  Shareholder 
 Require a Majority Vote for the Election  Against  For  Shareholder 
  of Directors           
 Report on Foreign Military Sales    Against  Against  Shareholder 

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CHEVRON CORPORATION   
 
Ticker: CVX  Security ID: 166764100 
Meeting Date: MAY 28, 2008  Meeting Type: Annual 
Record Date: MAR 31, 2008   


 Proposal  Mgt Rec  Vote Cast  Sponsor 
 Elect Director S. H. Armacost  For  For  Management 
 Elect Director L. F. Deily  For  For  Management 
 Elect Director R. E. Denham  For  For  Management 
 Elect Director R. J. Eaton  For  For  Management 
 Elect Director S. Ginn  For  For  Management 
 Elect Director F. G. Jenifer  For  For  Management 
 Elect Director J. L. Jones  For  For  Management 
 Elect Director S. Nunn  For  For  Management 
 Elect Director D. J. O?Reilly  For  For  Management 
10  Elect Director D. B. Rice  For  For  Management 
11  Elect Director P. J. Robertson  For  For  Management 
12  Elect Director K. W. Sharer  For  For  Management 
13  Elect Director C. R. Shoemate  For  For  Management 
14  Elect Director R. D. Sugar  For  For  Management 
15  Elect Director C. Ware  For  For  Management 
16  Ratify Auditors  For  For  Management 
17  Increase Authorized Common Stock  For  For  Management 
18  Require Independent Board Chairman  Against  Against  Shareholder 
19  Adopt Human Rights Policy  Against  Against  Shareholder 
20  Report on Environmental Impact of Oil  Against  Against  Shareholder 
  Sands Operations in Canada       
21  Adopt Quantitative GHG Goals for Products Against  Against  Shareholder 
  and Operations       
22  Adopt Guidelines for Country Selection  Against  Against  Shareholder 
23  Report on Market Specific Environmental  Against  Against  Shareholder 
  Laws       

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CHRISTIAN DIOR         
 
Ticker: CDI  Security ID: F26334106     
Meeting Date: MAY 15, 2008  Meeting Type: Annual/Special   
Record Date: MAY 12, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Accept Consolidated Financial Statements  For  For  Management 
  and Statutory Reports       
 Approve Financial Statements and  For  For  Management 
  Discharge Directors         
 Approve Special Auditors' Report  For  For  Management 
  Regarding Related-Party Transactions       
 Approve Allocation of Income and  For  For  Management 
  Dividends of EUR 1.61 per Share       
 Reelect Bernard Arnault as Director  For  Against  Management 
 Reelect Sidney Toledano as Director  For  For  Management 
 Reelect Pierre Gode as Director  For  Against  Management 
 Approve Remuneration of Directors in the  For  For  Management 
  Aggregate Amount of EUR 147,715       
 Authorize Repurchase of Up to 10 Percent  For  For  Management 
  of Issued Share Capital       
10  Approve Reduction in Share Capital via  For  For  Management 
  Cancellation of Repurchased Shares       
11  Authorize up to 1 Percent of Issued  For  Against  Management 
  Capital for Use in Restricted Stock Plan       


12  Approve Employee Stock Purchase Plan  For  Against  Management 

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CISCO SYSTEMS, INC.         
 
Ticker: CSCO  Security ID: 17275R102     
Meeting Date: NOV 15, 2007  Meeting Type: Annual     
Record Date: SEP 17, 2007         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director Carol A. Bartz  For  For  Management 
 Elect Director M. Michele Burns  For  For  Management 
 Elect Director Michael D. Capellas  For  For  Management 
 Elect Director Larry R. Carter  For  For  Management 
 Elect Director John T. Chambers  For  For  Management 
 Elect Director Brian L. Halla  For  For  Management 
 Elect Director Dr. John L. Hennessy  For  For  Management 
 Elect Director Richard M. Kovacevich  For  For  Management 
 Elect Director Roderick C. McGeary  For  For  Management 
10  Elect Director Michael K. Powell  For  For  Management 
11  Elect Director Steven M. West  For  For  Management 
12  Elect Director Jerry Yang  For  For  Management 
13  Amend Omnibus Stock Plan  For  For  Management 
14  Approve Executive Incentive Bonus Plan  For  For  Management 
15  Ratify Auditors    For  For  Management 
16  Amend Bylaws to Establish a Board  Against  Against  Shareholder 
  Committee on Human Rights       
17  Pay For Superior Performance  Against  For  Shareholder 
18  Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       
19  Report on Internet Fragmentation  Against  Against  Shareholder 

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CITIGROUP INC.           
 
Ticker: C  Security ID:  172967101     
Meeting Date: APR 22, 2008  Meeting Type: Annual     
Record Date: FEB 25, 2008           
 
 Proposal      Mgt Rec  Vote Cast  Sponsor 
 Elect Director C. Michael Armstrong    For  For  Management 
 Elect Director Alain J.P. Belda    For  Against  Management 
 Elect Director Sir Winfried Bischoff    For  For  Management 
 Elect Director Kenneth T. Derr    For  Against  Management 
 Elect Director John M. Deutch    For  For  Management 
 Elect Director Roberto Hernandez Ramirez  For  For  Management 
 Elect Director Andrew N. Liveris    For  For  Management 
 Elect Director Anne Mulcahy    For  For  Management 
 Elect Director Vikram Pandit    For  For  Management 
10  Elect Director Richard D. Parsons    For  Against  Management 
11  Elect Director Judith Rodin    For  For  Management 
12  Elect Director Robert E. Rubin    For  For  Management 
13  Elect Director Robert L. Ryan    For  For  Management 


14  Elect Director Franklin A. Thomas  For  For  Management 
15  Ratify Auditors  For  For  Management 
16  Disclose Prior Government Service  Against  Against  Shareholder 
17  Report on Political Contributions  Against  Against  Shareholder 
18  Limit Executive Compensation  Against  Against  Shareholder 
19  Require More Director Nominations Than  Against  Against  Shareholder 
  Open Seats       
20  Report on the Equator Principles  Against  Against  Shareholder 
21  Adopt Employee Contract  Against  Against  Shareholder 
22  Amend GHG Emissions Policies to Limit  Against  Against  Shareholder 
  Coal Financing       
23  Report on Human Rights Investment  Against  Against  Shareholder 
  Policies       
24  Require Independent Board Chairman  Against  Against  Shareholder 
25  Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       
26  Indicate If You Would Like to Keep Your  None  For  Management 
  Vote Confidential Under Current Policy       

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COCA-COLA COMPANY, THE         
 
Ticker: KO  Security ID: 191216100     
Meeting Date: APR 16, 2008  Meeting Type: Annual     
Record Date: FEB 22, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director Herbert A. Allen  For  For  Management 
 Elect Director Ronald W. Allen  For  For  Management 
 Elect Director Cathleen P. Black  For  For  Management 
 Elect Director Barry Diller  For  For  Management 
 Elect Director Alexis M. Herman  For  For  Management 
 Elect Director E. Neville Isdell  For  For  Management 
 Elect Director Muhtar Kent  For  For  Management 
 Elect Director Donald R. Keough  For  For  Management 
 Elect Director Donald F. McHenry  For  For  Management 
10  Elect Director Sam Nunn  For  For  Management 
11  Elect Director James D. Robinson III  For  For  Management 
12  Elect Director Peter V. Ueberroth  For  For  Management 
13  Elect Director Jacob Wallenberg  For  For  Management 
14  Elect Director James B. Williams  For  For  Management 
15  Ratify Auditors    For  For  Management 
16  Approve Stock Option Plan  For  For  Management 
17  Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       
18  Require Independent Board Chairman  Against  Against  Shareholder 
19  Amend Bylaws to Establish a Board  Against  Against  Shareholder 
  Committee on Human Rights       

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CONOCOPHILLIPS       
Ticker:  COP  Security ID:  20825C104 


Meeting Date: MAY 14, 2008 Meeting Type: Annual     
Record Date: MAR 17, 2008       
 
 Proposal  Mgt Rec  Vote Cast  Sponsor 
 Elect Director Harold W. McGraw III  For  For  Management 
 Elect Director James J. Mulva  For  For  Management 
 Elect Director Bobby S. Shackouls  For  For  Management 
 Declassify the Board of Directors  For  For  Management 
 Ratify Auditors  For  For  Management 
 Require Director Nominee Qualifications  Against  Against  Shareholder 
 Report on Indigenous Peoples Rights  Against  Against  Shareholder 
  Policies       
 Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       
 Report on Political Contributions  Against  Against  Shareholder 
10  Adopt Greenhouse Gas Emissions Goals for  Against  Against  Shareholder 
  Products and Operations       
11  Report on Community Environmental Impacts Against  Against  Shareholder 
  of Operations       
12  Report on Environmental Damage from  Against  Against  Shareholder 
  Drilling in the National Petroleum       
  Reserve       
13  Report on Environmental Impact of Oil  Against  Against  Shareholder 
  Sands Operations in Canada       
14  Report on Global Warming  Against  Against  Shareholder 

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

EMERSON ELECTRIC CO.         
 
Ticker: EMR  Security ID:  291011104     
Meeting Date: FEB 5, 2008  Meeting Type: Annual     
Record Date: NOV 27, 2007       
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director D.N. Farr  For  For  Management 
1.2  Elect Director R.B. Horton  For  For  Management 
1.3  Elect Director C.A. Peters  For  For  Management 
1.4  Elect Director J.W. Prueher  For  For  Management 
 Ratify Auditors    For  For  Management 

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ESTEE LAUDER COMPANIES INC., THE       
 
Ticker: EL  Security ID:  518439104     
Meeting Date: NOV 9, 2007  Meeting Type: Annual     
Record Date: SEP 14, 2007       
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director Aerin Lauder  For  For  Management 
1.2  Elect Director William P. Lauder  For  For  Management 
1.3  Elect Director Lynn Forester de  For  For  Management 
  Rothschild         
1.4  Elect Director Richard D. Parsons  For  For  Management 


 Amend Non-Employee Director Omnibus Stock For  Against  Management 
  Plan       
 Ratify Auditors  For  For  Management 

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

EXXON MOBIL CORP.         
 
Ticker: XOM  Security ID: 30231G102     
Meeting Date: MAY 28, 2008  Meeting Type: Annual     
Record Date: APR 4, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director Michael J. Boskin  For  For  Management 
1.2  Elect Director Larry R. Faulkner  For  For  Management 
1.3  Elect Director William W. George  For  For  Management 
1.4  Elect Director James R. Houghton  For  For  Management 
1.5  Elect Director Reatha Clark King  For  For  Management 
1.6  Elect Director Marilyn Carlson Nelson  For  For  Management 
1.7  Elect Director Samuel J. Palmisano  For  For  Management 
1.8  Elect Director Steven S Reinemund  For  For  Management 
1.9  Elect Director Walter V. Shipley  For  For  Management 
1.10  Elect Director Rex W. Tillerson  For  For  Management 
1.11  Elect Director Edward E. Whitacre, Jr.  For  For  Management 
 Ratify Auditors    For  For  Management 
 Amend Bylaws to Prohibit Precatory  Against  Against  Shareholder 
  Proposals         
 Require Director Nominee Qualifications  Against  Against  Shareholder 
 Require Independent Board Chairman  Against  Against  Shareholder 
 Approve Distribution Policy  Against  Against  Shareholder 
 Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       
 Compare CEO Compensation to Company's  Against  Against  Shareholder 
  Lowest Paid U.S. Workers       
 Claw-back of Payments under Restatements  Against  Against  Shareholder 
10  Review Anti-discrimination Policy on  Against  Against  Shareholder 
  Corporate Sponsorships and Executive       
  Perks         
11  Report on Political Contributions  Against  Against  Shareholder 
12  Amend EEO Policy to Prohibit  Against  Against  Shareholder 
  Discrimination based on Sexual       
  Orientation and Gender Identity       
13  Report on Community Environmental Impacts Against  Against  Shareholder 
  of Operations         
14  Report on Potential Environmental Damage  Against  Against  Shareholder 
  from Drilling in the Arctic National       
  Wildlife Refuge         
15  Adopt Greenhouse Gas Emissions Goals for  Against  Against  Shareholder 
  Products and Operations       
16  Report on Carbon Dioxide Emissions  Against  Against  Shareholder 
  Information at Gas Stations       
17  Report on Climate Change Impacts on  Against  Against  Shareholder 
  Emerging Countries         
18  Report on Energy Technologies Development Against  Against  Shareholder 
19  Adopt Policy to Increase Renewable Energy Against  Against  Shareholder 


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

GENERAL ELECTRIC CO.         
 
Ticker: GE  Security ID: 369604103     
Meeting Date: APR 23, 2008  Meeting Type: Annual     
Record Date: FEB 25, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director James I. Cash, Jr.  For  For  Management 
 Elect Director William M. Castell  For  For  Management 
 Elect Director Ann M. Fudge  For  For  Management 
 Elect Director Claudio X. Gonzalez  For  Against  Management 
 Elect Director Susan Hockfield  For  For  Management 
 Elect Director Jeffrey R. Immelt  For  For  Management 
 Elect Director Andrea Jung  For  For  Management 
 Elect Director Alan G. Lafley  For  For  Management 
 Elect Director Robert W. Lane  For  For  Management 
10  Elect Director Ralph S. Larsen  For  For  Management 
11  Elect Director Rochelle B. Lazarus  For  For  Management 
12  Elect Director James J. Mulva  For  For  Management 
13  Elect Director Sam Nunn  For  For  Management 
14  Elect Director Roger S. Penske  For  For  Management 
15  Elect Director Robert J. Swieringa  For  For  Management 
16  Elect Director Douglas A. Warner III  For  For  Management 
17  Ratify Auditors    For  For  Management 
18  Provide for Cumulative Voting  Against  Against  Shareholder 
19  Require Independent Board Chairman  Against  Against  Shareholder 
20  Claw-back of Payments under Restatements  Against  Against  Shareholder 
21  Adopt Policy on Overboarded Directors  Against  Against  Shareholder 
22  Report on Charitable Contributions  Against  Against  Shareholder 
23  Report on Global Warming  Against  Against  Shareholder 
24  Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       

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

HALLIBURTON CO.         
 
Ticker: HAL  Security ID:  406216101     
Meeting Date: MAY 21, 2008  Meeting Type: Annual     
Record Date: MAR 24, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director Alan M. Bennett  For  For  Management 
 Elect Director James R. Boyd  For  For  Management 
 Elect Director Milton Carroll  For  For  Management 
 Elect Director Kenneth T. Derr  For  For  Management 
 Elect Director S. Malcolm Gillis  For  For  Management 
 Elect Director James T. Hackett  For  For  Management 
 Elect Director David J. Lesar  For  For  Management 
 Elect Director J. Landis Martin  For  For  Management 
 Elect Director Jay A. Precourt  For  For  Management 
10  Elect Director Debra L. Reed  For  For  Management 
11  Ratify Auditors    For  For  Management 


12  Amend Omnibus Stock Plan  For  For  Management 
13  Adopt Human Rights Policy  Against  Against  Shareholder 
14  Report on Political Contributions  Against  Against  Shareholder 
15  Amend Bylaws to Establish a Board  Against  For  Shareholder 
  Committee on Human Rights       

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

HILTON HOTELS CORP.         
 
Ticker: HLT  Security ID:  432848109     
Meeting Date: SEP 18, 2007  Meeting Type: Special     
Record Date: AUG 6, 2007         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Approve Merger Agreement  For  For  Management 
 Adjourn Meeting    For  Against  Management 

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HSBC HOLDINGS PLC         
 
Ticker: HBC  Security ID: 404280406     
Meeting Date: MAY 30, 2008  Meeting Type: Annual     
Record Date: MAR 27, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 TO RECEIVE THE REPORT AND ACCOUNTS FOR  For  For  Management 
  2007         
 TO APPROVE THE DIRECTORS REMUNERATION  For  For  Management 
  REPORT FOR 2007         
 TO RE-ELECT S A CATZ A DIRECTOR  For  For  Management 
 TO RE-ELECT V H C CHENG A DIRECTOR  For  For  Management 
 TO RE-ELECT J D COOMBE A DIRECTOR  For  For  Management 
 TO RE-ELECT J L DURAN A DIRECTOR  For  For  Management 
 TO RE-ELECT D J FLINT A DIRECTOR  For  For  Management 
 TO RE-ELECT A A FLOCKHART A DIRECTOR  For  For  Management 
 TO RE-ELECT W K L FUNG A DIRECTOR  For  For  Management 
10  TO RE-ELECT S T GULLIVER A DIRECTOR  For  For  Management 
11  TO RE-ELECT J W J HUGHES-HALLETT A  For  For  Management 
  DIRECTOR         
12  TO RE-ELECT W S H LAIDLAW A DIRECTOR  For  For  Management 
13  TO RE-ELECT N R N MURTHY A DIRECTOR  For  For  Management 
14  TO RE-ELECT S W NEWTON A DIRECTOR  For  For  Management 
15  Ratify Auditors    For  For  Management 
16  TO AUTHORISE THE DIRECTORS TO ALLOT  For  For  Management 
  SHARES         
17  TO DISAPPLY PRE-EMPTION RIGHTS (SPECIAL  For  For  Management 
  RESOLUTION)         
18  TO AUTHORISE THE COMPANY TO PURCHASE ITS  For  For  Management 
  OWN ORDINARY SHARES         
19  TO ALTER THE ARTICLES OF ASSOCIATION  For  For  Management 
  (SPECIAL RESOLUTION)         
20  TO ALTER THE ARTICLES OF ASSOCIATION WITH For  For  Management 
  EFFECT FROM 1 OCTOBER 2008 (SPECIAL       


  RESOLUTION)     
21  TO AMEND THE RULES OF THE HSBC SHARE PLAN For  For  Management 

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

INTEL CORP.         
 
Ticker: INTC  Security ID:  458140100     
Meeting Date: MAY 21, 2008  Meeting Type: Annual     
Record Date: MAR 24, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director Craig R. Barrett  For  For  Management 
 Elect Director Charlene Barshefsky  For  For  Management 
 Elect Director Carol A. Bartz  For  For  Management 
 Elect Director Susan L. Decker  For  For  Management 
 Elect Director Reed E. Hundt  For  For  Management 
 Elect Director Paul S. Otellini  For  For  Management 
 Elect Director James D. Plummer  For  For  Management 
 Elect Director David S. Pottruck  For  For  Management 
 Elect Director Jane E. Shaw  For  For  Management 
10  Elect Director John L. Thornton  For  For  Management 
11  Elect Director David B. Yoffie  For  For  Management 
12  Ratify Auditors    For  For  Management 
13  Amend Bylaws to Establish a Board  Against  Against  Shareholder 
  Committee on Sustainability       

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

JOHNSON & JOHNSON         
 
Ticker: JNJ  Security ID: 478160104     
Meeting Date: APR 24, 2008  Meeting Type: Annual     
Record Date: FEB 26, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director Mary Sue Coleman  For  For  Management 
1.2  Elect Director James G. Cullen  For  For  Management 
1.3  Elect Director Michael M.E. Johns  For  Withhold  Management 
1.4  Elect Director Arnold G. Langbo  For  Withhold  Management 
1.5  Elect Director Susan L. Lindquist  For  For  Management 
1.6  Elect Director Leo F. Mullin  For  For  Management 
1.7  Elect Director Wiliam D. Perez  For  Withhold  Management 
1.8  Elect Director Christine A. Poon  For  For  Management 
1.9  Elect Director Charles Prince  For  Withhold  Management 
1.10  Elect Director Steven S. Reinemund  For  For  Management 
1.11  Elect Director David Satcher  For  For  Management 
1.12  Elect Director William C. Weldon  For  For  Management 
 Ratify Auditors    For  For  Management 
 Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       

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


JPMORGAN CHASE & CO.         
 
Ticker: JPM  Security ID: 46625H100     
Meeting Date: MAY 20, 2008  Meeting Type: Annual     
Record Date: MAR 21, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director Crandall C. Bowles  For  For  Management 
 Elect Director Stephen B. Burke  For  For  Management 
 Elect Director David M. Cote  For  For  Management 
 Elect Director James S. Crown  For  For  Management 
 Elect Director James Dimon  For  For  Management 
 Elect Director Ellen V. Futter  For  For  Management 
 Elect Director William H. Gray, III  For  For  Management 
 Elect Director Laban P. Jackson, Jr.  For  For  Management 
 Elect Director Robert I. Lipp  For  For  Management 
10  Elect Director David C. Novak  For  For  Management 
11  Elect Director Lee R. Raymond  For  For  Management 
12  Elect Director William C. Weldon  For  For  Management 
13  Ratify Auditors    For  For  Management 
14  Amend Omnibus Stock Plan  For  Against  Management 
15  Amend Executive Incentive Bonus Plan  For  For  Management 
16  Report on Government Service of Employees Against  Against  Shareholder 
17  Report on Political Contributions  Against  Against  Shareholder 
18  Require Independent Board Chairman  Against  Against  Shareholder 
19  Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       
20  Require More Director Nominations Than  Against  Against  Shareholder 
  Open Seats         
21  Report on Human Rights Investment  Against  Against  Shareholder 
  Policies         
22  Report on Lobbying Activities  Against  Against  Shareholder 

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

KRAFT FOODS INC         
 
Ticker: KFT  Security ID:  50075N104     
Meeting Date: MAY 13, 2008  Meeting Type: Annual     
Record Date: MAR 10, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director Ajay Banga  For  For  Management 
1.2  Elect Director Jan Bennink  For  For  Management 
1.3  Elect Director Myra M. Hart  For  For  Management 
1.4  Elect Director Lois D. Juliber  For  For  Management 
1.5  Elect Director Mark D. Ketchum  For  For  Management 
1.6  Elect Director Richard A. Lerner  For  For  Management 
1.7  Elect Director John C. Pope  For  For  Management 
1.8  Elect Director Fredric G. Reynolds  For  For  Management 
1.9  Elect Director Irene B. Rosenfeld  For  For  Management 
1.10  Elect Director Mary L. Schapiro  For  For  Management 
1.11  Elect Director Deborah C. Wright  For  For  Management 
1.12  Elect Director Frank G. Zarb  For  For  Management 
 Ratify Auditors    For  For  Management 


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

MCDONALD'S CORP.         
 
Ticker: MCD  Security ID:  580135101     
Meeting Date: MAY 22, 2008  Meeting Type: Annual     
Record Date: MAR 24, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director Ralph Alvarez  For  For  Management 
 Elect Director Susan E. Arnold  For  For  Management 
 Elect Director Richard H. Lenny  For  For  Management 
 Elect Director Cary D. McMillan  For  For  Management 
 Elect Director Sheila A. Penrose  For  For  Management 
 Elect Director James A. Skinner  For  For  Management 
 Ratify Auditors    For  For  Management 

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

MCGRAW-HILL COMPANIES, INC., THE       
 
Ticker: MHP  Security ID:  580645109     
Meeting Date: APR 30, 2008  Meeting Type: Annual     
Record Date: MAR 11, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director Winfried Bischoff  For  Withhold  Management 
1.2  Elect Director Douglas N. Daft  For  Withhold  Management 
1.3  Elect Director Linda Koch Lorimer  For  Withhold  Management 
1.4  Elect Director Harold McGraw III  For  Withhold  Management 
1.5  Elect Director Michael Rake  For  For  Management 
 Ratify Auditors    For  For  Management 
 Declassify the Board of Directors  Against  For  Shareholder 
 Reduce Supermajority Vote Requirement  Against  For  Shareholder 

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

MERCK & CO., INC.         
 
Ticker: MRK  Security ID: 589331107     
Meeting Date: APR 22, 2008  Meeting Type: Annual     
Record Date: FEB 25, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director Richard T. Clark  For  For  Management 
 Elect Director Johnnetta B. Cole, Ph.D.  For  For  Management 
 Elect Director Thomas H. Glocer  For  For  Management 
 Elect Director Steven F. Goldstone  For  For  Management 
 Elect Director William B. Harrison, Jr.  For  For  Management 
 Elect Director Harry R. Jacobson, M.D.  For  For  Management 
 Elect Director William N. Kelley, M.D.  For  For  Management 
 Elect Director Rochelle B. Lazarus  For  For  Management 
 Elect Director Thomas E. Shenk, Ph.D.  For  For  Management 
10  Elect Director Anne M. Tatlock  For  For  Management 


11  Elect Director Samuel O. Thier, M.D.  For  For  Management 
12  Elect Director Wendell P. Weeks  For  For  Management 
13  Elect Director Peter C. Wendell  For  For  Management 
14  Ratify Auditors  For  For  Management 
15  Limit Executive Compensation  Against  Against  Shareholder 
16  Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       
17  Amend Articles/Bylaws/Charter -- Call  Against  For  Shareholder 
  Special Meetings       
18  Adopt a bylaw to Require an Independent  Against  Against  Shareholder 
  Lead Director       

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

MERRILL LYNCH & CO., INC.         
 
Ticker: MER  Security ID: 590188108     
Meeting Date: APR 24, 2008  Meeting Type: Annual     
Record Date: FEB 26, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director Carol T. Christ  For  For  Management 
 Elect Director Armando M. Codina  For  For  Management 
 Elect Director Judith Mayhew Jonas  For  For  Management 
 Elect Director John A. Thain  For  For  Management 
 Ratify Auditors    For  For  Management 
 Provide for Cumulative Voting  Against  Against  Shareholder 
 Compensation- Miscellaneous Company  Against  Against  Shareholder 
  Specific--Prohibiting Executive Officer       
  Stock Sales during Buyback       
 Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       
 Adopt Employment Contract  Against  Against  Shareholder 

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

MICROSOFT CORP.         
 
Ticker: MSFT  Security ID:  594918104     
Meeting Date: NOV 13, 2007  Meeting Type: Annual     
Record Date: SEP 7, 2007         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director William H. Gates, III  For  For  Management 
 Elect Director Steven A. Ballmer  For  For  Management 
 Elect Director James I. Cash, Jr.  For  For  Management 
 Elect Director Dina Dublon  For  For  Management 
 Elect Director Raymond V. Gilmartin  For  For  Management 
 Elect Director Reed Hastings  For  For  Management 
 Elect Director David F. Marquardt  For  For  Management 
 Elect Director Charles H. Noski  For  For  Management 
 Elect Director Helmut Panke  For  For  Management 
10  Elect Director Jon A. Shirley  For  For  Management 
11  Ratify Auditors    For  For  Management 
12  Adopt Policies to Protect Freedom of  Against  Against  Shareholder 


  Access to the Internet       
13  Amend Bylaws to Establish a Board  Against  Against  Shareholder 
  Committee on Human Rights       

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

NESTLE SA         
 
Ticker: NSRGY  Security ID: 641069406     
Meeting Date: APR 10, 2008  Meeting Type: Annual     
Record Date: FEB 29, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 APPROVAL OF THE 2007 ANNUAL REPORT, OF  For  For  Management 
  THE ACCOUNTS OF NESTLE S.A. AND OF THE       
  CONSOLIDATED ACCOUNTS OF THE NESTLE       
  GROUP.         
 RELEASE OF THE MEMBERS OF THE BOARD OF  For  For  Management 
  DIRECTORS AND OF THE MANAGEMENT.       
 APPROVAL OF THE APPROPRIATION OF PROFITS  For  For  Management 
  RESULTING FROM THE BALANCE SHEET OF       
  NESTLE S.A.         
 RE-ELECTION OF MR. ANDREAS KOOPMANN, TO  For  For  Management 
  THE BOARD OF DIRECTORS.       
 RE-ELECTION OF MR. ROLF HANGGI, TO THE  For  For  Management 
  BOARD OF DIRECTORS.         
 ELECTION OF MR. PAUL BULCKE, TO THE BOARD For  For  Management 
  OF DIRECTORS.         
 ELECTION OF MR. BEAT W. HESS, TO THE  For  For  Management 
  BOARD OF DIRECTORS.         
 RE-ELECTION OF THE AUDITORS KPMG KLYNVELD For  For  Management 
  PEAT MARWICK GOERDELER S.A.       
 APPROVAL OF THE CAPITAL REDUCTION.  For  For  Management 
10  APPROVAL OF THE SHARE SPLIT.  For  For  Management 
11  APPROVAL OF THE AMENDMENT TO ARTICLES 5  For  For  Management 
  AND 5 BIS PARA. 1 OF THE ARTICLES OF       
  ASSOCIATION.         
12  APPROVAL OF THE PROPOSED REVISED ARTICLES For  For  Management 
  OF ASSOCIATION, AS SET FORTH IN THE       
  COMPANY'S INVITATION ENCLOSED HEREWITH.       
13  MARK THE FOR BOX TO THE RIGHT IF YOU  None  Against  Management 
  WISH TO GIVE A PROXY TO INDEPENDENT       
  REPRESENTATIVE, MR. JEAN-LUDOVIC HARTMANN     
  (AS FURTHER DISCUSSED IN THE COMPANY'S       
  INVITATION).         

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

NEWS CORPORATION       
 
Ticker: NWS  Security ID: 65248E203     
Meeting Date: OCT 19, 2007  Meeting Type: Annual     
Record Date: AUG 28, 2007       
 
# Proposal  Mgt Rec  Vote Cast  Sponsor 


1.1  Elect Director K. Rupert Murdoch  For  For  Management 
1.2  Elect Director Peter L. Barnes  For  For  Management 
1.3  Elect Director Kenneth E. Cowley  For  For  Management 
1.4  Elect Director David F. DeVoe  For  For  Management 
1.5  Elect Director Viet Dinh  For  For  Management 
 Ratify Auditors  For  For  Management 
 Declassify the Board of Directors  Against  For  Shareholder 
 Company Specific-Governance Related-  Against  For  Shareholder 
  Eliminate Company's Dual Class Capital       
  Structure       

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

OCCIDENTAL PETROLEUM CORP.       
 
Ticker: OXY  Security ID: 674599105     
Meeting Date: MAY 2, 2008  Meeting Type: Annual     
Record Date: MAR 12, 2008       
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director Spencer Abraham  For  Against  Management 
 Elect Director Ronald W. Burkle  For  For  Management 
 Elect Director John S. Chalsty  For  Against  Management 
 Elect Director Edward P. Djerejian  For  For  Management 
 Elect Director John E. Feick  For  For  Management 
 Elect Director Ray R. Irani  For  For  Management 
 Elect Director Irvin W. Maloney  For  Against  Management 
 Elect Director Avedick B. Poladian  For  For  Management 
 Elect Director Rodolfo Segovia  For  Against  Management 
10  Elect Director Aziz D. Syriani  For  For  Management 
11  Elect Director Rosemary Tomich  For  Against  Management 
12  Elect Director Walter L. Weisman  For  For  Management 
13  Ratify Auditors    For  For  Management 
14  Publish a Scientific Global Warming  Against  Against  Shareholder 
  Report         
15  Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       
16  Disclose Information on Compensation  Against  Against  Shareholder 
  Consultant         
17  Pay For Superior Performance  Against  For  Shareholder 
18  Amend Articles/Bylaws/Charter -- Call  Against  For  Shareholder 
  Special Meetings         

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PATRIOT COAL CORPORATION         
 
Ticker: PCX  Security ID:  70336T104     
Meeting Date: MAY 12, 2008  Meeting Type: Annual     
Record Date: MAR 20, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director J. Joe Adorjan  For  For  Management 
1.2  Elect Director Michael M. Scharf  For  For  Management 
 Ratify Auditors    For  For  Management 


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PEABODY ENERGY CORP.         
 
Ticker: BTU  Security ID: 704549104     
Meeting Date: MAY 8, 2008  Meeting Type: Annual     
Record Date: MAR 14, 2008       
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director Sandra Van Trease  For  For  Management 
 Ratify Auditors    For  For  Management 
 Declassify the Board of Directors  For  For  Management 
 Approve Executive Incentive Bonus Plan  For  For  Management 

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PEPSICO, INC.         
 
Ticker: PEP  Security ID: 713448108     
Meeting Date: MAY 7, 2008  Meeting Type: Annual     
Record Date: MAR 7, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director I.M. Cook  For  For  Management 
 Elect Director D. Dublon  For  For  Management 
 Elect Director V.J. Dzau  For  For  Management 
 Elect Director R.L. Hunt  For  For  Management 
 Elect Director A. Ibarguen  For  For  Management 
 Elect Director A.C. Martinez  For  For  Management 
 Elect Director I.K. Nooyi  For  For  Management 
 Elect Director S.P. Rockefeller  For  For  Management 
 Elect Director J.J. Schiro  For  For  Management 
10  Elect Director L.G. Trotter  For  For  Management 
11  Elect Director D.Vasella  For  For  Management 
12  Elect Director M.D. White  For  For  Management 
13  Ratify Auditors    For  For  Management 
14  Report on Recycling    Against  Against  Shareholder 
15  Report on Genetically Engineered Products Against  Against  Shareholder 
16  Report on Human Rights Policies Relating  Against  Against  Shareholder 
  to Water Use         
17  Report on Global Warming  Against  Against  Shareholder 
18  Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       

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PRAXAIR, INC.       
 
Ticker: PX  Security ID: 74005P104     
Meeting Date: APR 22, 2008  Meeting Type: Annual     
Record Date: FEB 28, 2008       
 
# Proposal  Mgt Rec  Vote Cast  Sponsor 


1.1  Elect Director Nance K. Dicciani  For  For  Management 
1.2  Elect Director Edward G. Galante  For  For  Management 
1.3  Elect Director Ira D. Hall  For  For  Management 
1.4  Elect Director Raymond W. LeBoeuf  For  For  Management 
1.5  Elect Director Larry D. McVay  For  For  Management 
1.6  Elect Director Wayne T. Smith  For  For  Management 
1.7  Elect Director H. Mitchell Watson, Jr.  For  For  Management 
1.8  Elect Director Robert L. Wood  For  For  Management 
 Require Majority Vote for Non-Contested  For  For  Management 
  Election       
 Ratify Auditors  For  For  Management 

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PROCTER & GAMBLE COMPANY, THE       
 
Ticker: PG  Security ID:  742718109     
Meeting Date: OCT 9, 2007  Meeting Type: Annual     
Record Date: AUG 10, 2007       
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director Rajat K. Gupta  For  For  Management 
1.2  Elect Director A. G. Lafley  For  For  Management 
1.3  Elect Director Lynn M. Martin  For  For  Management 
1.4  Elect Director Johnathan A. Rodgers  For  For  Management 
1.5  Elect Director John F. Smith, Jr.  For  For  Management 
1.6  Elect Director Ralph Snyderman, M.D.  For  For  Management 
1.7  Elect Director Margaret C. Whitman  For  For  Management 
 Ratify Auditor    For  For  Management 
 Prohibit Executive Stock-Based Awards  Against  Against  Shareholder 
 Report on Free Enterprise Initiatives  Against  Against  Shareholder 
 Report on Animal Welfare  Against  Against  Shareholder 

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

PRUDENTIAL FINANCIAL INC         
 
Ticker: PRU  Security ID:  744320102     
Meeting Date: MAY 13, 2008  Meeting Type: Annual     
Record Date: MAR 14, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director Frederic K. Becker  For  For  Management 
1.2�� Elect Director Gordon M. Bethune  For  For  Management 
1.3  Elect Director Gaston Caperton  For  For  Management 
1.4  Elect Director Gilbert F. Casellas  For  For  Management 
1.5  Elect Director James G. Cullen  For  For  Management 
1.6  Elect Director William H. Gray, III  For  For  Management 
1.7  Elect Director Mark B. Grier  For  For  Management 
1.8  Elect Director Jon F. Hanson  For  For  Management 
1.9  Elect Director Constance J. Horner  For  For  Management 
1.10  Elect Director Karl J. Krapek  For  For  Management 
1.11  Elect Director Christine A. Poon  For  For  Management 
1.12  Elect Director John R. Strangfield  For  For  Management 
1.13  Elect Director James A. Unruh  For  For  Management 


 Ratify Auditors  For  For  Management 

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QUALCOMM INC.         
 
Ticker: QCOM  Security ID:  747525103     
Meeting Date: MAR 11, 2008  Meeting Type: Annual     
Record Date: JAN 14, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director Barbara T. Alexander  For  For  Management 
1.2  Elect Director Donald G. Cruickshank  For  For  Management 
1.3  Elect Director Raymond V. Dittamore  For  For  Management 
1.4  Elect Director Irwin Mark Jacobs  For  For  Management 
1.5  Elect Director Paul E. Jacobs  For  For  Management 
1.6  Elect Director Robert E. Kahn  For  For  Management 
1.7  Elect Director Sherry Lansing  For  For  Management 
1.8  Elect Director Duane A. Nelles  For  For  Management 
1.9  Elect Director Marc I. Stern  For  For  Management 
1.10  Elect Director Brent Scowcroft  For  For  Management 
 Amend Omnibus Stock Plan  For  Against  Management 
 Ratify Auditors    For  For  Management 

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ROYAL DUTCH SHELL PLC         
 
Ticker: RDS.A  Security ID: 780259206     
Meeting Date: MAY 20, 2008  Meeting Type: Annual     
Record Date: APR 9, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 ADOPTION OF ANNUAL REPORT & ACCOUNTS  For  For  Management 
 APPROVAL OF REMUNERATION REPORT  For  For  Management 
 ELECTION OF DR. JOSEF ACKERMANN AS A  For  For  Management 
  DIRECTOR OF THE COMPANY       
 RE-ELECTION OF SIR PETER JOB AS A  For  For  Management 
  DIRECTOR OF THE COMPANY       
 RE-ELECTION OF LAWRENCE RICCIARDI AS A  For  For  Management 
  DIRECTOR OF THE COMPANY       
 RE-ELECTION OF PETER VOSER AS A DIRECTOR  For  For  Management 
  OF THE COMPANY         
 Ratify Auditors    For  For  Management 
 REMUNERATION OF AUDITORS  For  For  Management 
 AUTHORITY TO ALLOT SHARES  For  For  Management 
10  DISAPPLICATION OF PRE-EMPTION RIGHTS  For  For  Management 
11  AUTHORITY TO PURCHASE OWN SHARES  For  For  Management 
12  AUTHORITY FOR CERTAIN DONATIONS AND  For  For  Management 
  EXPENDITURE         
13  AMENDMENTS TO LONG-TERM INCENTIVE PLAN  For  For  Management 
14  AMENDMENTS TO RESTRICTED SHARE PLAN  For  Abstain  Management 
15  ADOPTION OF NEW ARTICLES OF ASSOCIATION  For  For  Management 


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

SYSCO CORPORATION         
 
Ticker: SYY  Security ID: 871829107     
Meeting Date: NOV 9, 2007  Meeting Type: Annual     
Record Date: SEP 11, 2007       
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director John M. Cassaday  For  For  Management 
 Elect Director Manuel A. Fernandez  For  For  Management 
 Elect Director Jackie M. Ward  For  For  Management 
 Approve Omnibus Stock Plan  For  For  Management 
 Amend Qualified Employee Stock Purchase  For  For  Management 
  Plan         
 Ratify Auditors    For  For  Management 

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

TARGET CORPORATION         
 
Ticker: TGT  Security ID:  87612E106     
Meeting Date: MAY 22, 2008  Meeting Type: Annual     
Record Date: MAR 24, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director Roxanne S. Austin  For  For  Management 
 Elect Director James A. Johnson  For  For  Management 
 Elect Director Mary E. Minnick  For  For  Management 
 Elect Director Derica W. Rice  For  For  Management 
 Ratify Auditors    For  For  Management 

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TEXAS INSTRUMENTS, INC.         
 
Ticker: TXN  Security ID: 882508104     
Meeting Date: APR 17, 2008  Meeting Type: Annual     
Record Date: FEB 19, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director James R. Adams  For  For  Management 
 Elect Director David L. Boren  For  For  Management 
 Elect Director Daniel A. Carp  For  For  Management 
 Elect Director Carrie S. Cox  For  For  Management 
 Elect Director David R. Goode  For  For  Management 
 Elect Director Pamela H. Patsley  For  For  Management 
 Elect Director Wayne R. Sanders  For  For  Management 
 Elect Director Ruth J. Simmons  For  For  Management 
 Elect Director Richard K. Templeton  For  For  Management 
10  Elect Director Christine Todd Whitman  For  For  Management 
11  Ratify Auditors    For ��For  Management 
12  Require Director Nominee Qualifications  Against  Against  Shareholder 


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

TOTAL SA         
 
Ticker: TOT  Security ID: 89151E109     
Meeting Date: MAY 16, 2008  Meeting Type: Annual/Special   
Record Date: APR 9, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 APPROVAL OF PARENT COMPANY FINANCIAL  For  For  Management 
  STATEMENTS         
 APPROVAL OF CONSOLIDATED FINANCIAL  For  For  Management 
  STATEMENTS         
 ALLOCATION OF EARNINGS, DECLARATION OF  For  For  Management 
  DIVIDEND         
 AGREEMENTS COVERED BY ARTICLE L. 225-38  For  For  Management 
  OF THE FRENCH COMMERCIAL CODE       
 COMMITMENTS UNDER ARTICLE L. 225-42-1 OF  For  For  Management 
  THE FRENCH COMMERCIAL CODE CONCERNING MR.     
  THIERRY DESMAREST         
 COMMITMENTS UNDER ARTICLE L. 225-42-1 OF  For  Against  Management 
  THE FRENCH COMMERCIAL CODE CONCERNING MR.     
  CHRISTOPHE DE MARGERIE       
 AUTHORIZATION FOR THE BOARD OF DIRECTORS  For  For  Management 
  TO TRADE SHARES OF THE COMPANY       
 RENEWAL OF THE APPOINTMENT OF MR. PAUL  For  For  Management 
  DESMARAIS JR. AS A DIRECTOR       
 RENEWAL OF THE APPOINTMENT OF MR.  For  For  Management 
  BERTRAND JACQUILLAT AS A DIRECTOR       
10  RENEWAL OF THE APPOINTMENT OF LORD PETER  For  For  Management 
  LEVENE OF PORTSOKEN AS A DIRECTOR       
11  APPOINTMENT OF MRS. PATRICIA BARBIZET AS  For  For  Management 
  A DIRECTOR         
12  APPOINTMENT OF MR. CLAUDE MANDIL AS A  For  For  Management 
  DIRECTOR         
13  DELEGATION OF AUTHORITY GRANTED TO THE  For  For  Management 
  BOARD OF DIRECTORS TO INCREASE SHARE       
  CAPITAL BY ISSUING COMMON SHARES OR ANY       
  SECURITIES PROVIDING ACCESS TO SHARE       
  CAPITAL WHILE MAINTAINING SHAREHOLDERS       
  PREFERENTIAL SUBSCRIPTION RIGHTS OR BY       
  CAPITALIZING PREMIUMS,       
14  DELEGATION OF AUTHORITY GRANTED TO THE  For  For  Management 
  BOARD OF DIRECTORS TO INCREASE SHARE       
  CAPITAL BY ISSUING COMMON SHARES OR ANY       
  SECURITIES PROVIDING ACCESS TO SHARE       
  CAPITAL WITHOUT PREFERENTIAL SUBSCRIPTION     
  RIGHTS         
15  DELEGATION OF POWERS GRANTED TO THE BOARD For  For  Management 
  OF DIRECTORS TO INCREASE SHARE CAPITAL BY     
  ISSUING COMMON SHARES OR ANY SECURITIES       
  PROVIDING ACCESS TO SHARE CAPITAL, IN       
  PAYMENT OF SECURITIES THAT WOULD BE       
  CONTRIBUTED TO THE COMPANY       
16  DELEGATION OF AUTHORITY GRANTED TO THE  For  For  Management 
  BOARD OF DIRECTORS TO INCREASE SHARE       
  CAPITAL UNDER THE CONDITIONS PROVIDED FOR     


  IN ARTICLE 443-5 OF THE FRENCH LABOR CODE     
17  AUTHORIZATION FOR THE BOARD OF DIRECTORS  For  For  Management 
  TO GRANT RESTRICTED SHARES OF THE COMPANY     
  TO GROUP EMPLOYEES AND TO EXECUTIVE       
  OFFICERS OF THE COMPANY OR OF GROUP       
  COMPANIES       
18  REMOVAL OF MR. ANTOINE  Against  Against  Shareholder 
  JEANCOURT-GALIGNANI FROM HIS DIRECTORSHIP     
19  ADDITION OF A FINAL LAST PARAGRAPH TO  Against  For  Shareholder 
  ARTICLE 12 OF THE COMPANY S ARTICLES OF       
  ASSOCIATION TO ENSURE THAT STATISTICS ARE     
  PUBLISHED IDENTIFYING BY NAME THE       
  DIRECTORS IN ATTENDANCE AT MEETINGS OF       
  THE BOARD OF DIRECTORS AND ITS COMMITTEES     
20  AUTHORIZATION TO GRANT RESTRICTED SHARES  Against  Against  Shareholder 
  OF THE COMPANY TO ALL EMPLOYEES OF THE       
  GROUP       

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

TRANSOCEAN INC.         
 
Ticker: RIG  Security ID: G90078109     
Meeting Date: NOV 9, 2007  Meeting Type: Court     
Record Date: OCT 1, 2007         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 APPROVAL OF THE SCHEME OF ARRANGEMENT,  For  For  Management 
  ATTACHED TO THE ACCOMPANYING JOINT PROXY       
  STATEMENT AS ANNEX G, WHICH PROVIDES FOR       
  THE RECLASSIFICATION OF OUR ORDINARY       
  SHARES.         
 APPROVAL OF THE ISSUANCE OF OUR ORDINARY  For  For  Management 
  SHARES TO SHAREHOLDERS OF GLOBALSANTAFE       
  CORPORATION IN THE MERGER UNDER THE TERMS     
  OF THE AGREEMENT AND PLAN OF MERGER,       
  ATTACHED TO THE ACCOMPANYING JOINT PROXY       
  STATEMENT AS ANNEX A.       
 APPROVAL OF THE AMENDMENT AND RESTATEMENT For  For  Management 
  OF OUR MEMORANDUM AND ARTICLES OF       
  ASSOCIATION TO, AMONG OTHER THINGS,       
  INCREASE THE MAXIMUM NUMBER OF DIRECTORS       
  CONSTITUTING THE BOARD OF DIRECTORS OF       
  TRANSOCEAN INC. FROM 13 TO 14.       

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

TRANSOCEAN INC.       
 
Ticker: RIG  Security ID: G90073100     
Meeting Date: MAY 16, 2008  Meeting Type: Annual     
Record Date: MAR 19, 2008       
 
 Proposal  Mgt Rec  Vote Cast  Sponsor 
 ELECTION OF DIRECTOR: JON A. MARSHALL For  For  Management 


 ELECTION OF DIRECTOR: MARTIN B. MCNAMARA  For  For  Management 
 ELECTION OF DIRECTOR: ROBERT E. ROSE  For  For  Management 
 ELECTION OF DIRECTOR: IAN C. STRACHAN  For  For  Management 
 APPROVAL OF THE APPOINTMENT OF ERNST &  For  For  Management 
  YOUNG LLP TO SERVE AS OUR INDEPENDENT       
  REGISTERED PUBLIC ACCOUNTING FIRM FOR       
  2008.       

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

UNITED TECHNOLOGIES CORP.         
 
Ticker: UTX  Security ID: 913017109     
Meeting Date: APR 9, 2008  Meeting Type: Annual     
Record Date: FEB 12, 2008       
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director Louis R. Chenevert  For  For  Management 
1.2  Elect Director George David  For  For  Management 
1.3  Elect Director John V. Faraci  For  For  Management 
1.4  Elect Director Jean-Pierre Garnier  For  For  Management 
1.5  Elect Director Jamie S. Gorelick  For  For  Management 
1.6  Elect Director Charles R. Lee  For  For  Management 
1.7  Elect Director Richard D. McCormick  For  For  Management 
1.8  Elect Director Harold McGraw III  For  For  Management 
1.9  Elect Director Richard B. Myers  For  For  Management 
1.10  Elect Director H. Patrick Swygert  For  For  Management 
1.11  Elect Director Andre Villeneuve  For  For  Management 
1.12  Elect Director Christine Todd Whitman  For  For  Management 
 Ratify Auditors    For  For  Management 
 Amend Omnibus Stock Plan  For  Against  Management 
 Adopt Principles for Health Care Reform  Against  Against  Shareholder 
 Improve Human Rights Standards or  Against  Against  Shareholder 
  Policies         
 Pay For Superior Performance  Against  For  Shareholder 
 Report on Foreign Military Sales  Against  Against  Shareholder 

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

WAL-MART STORES, INC.         
 
Ticker: WMT  Security ID:  931142103     
Meeting Date: JUN 6, 2008  Meeting Type: Annual     
Record Date: APR 10, 2008         
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
 Elect Director Aida M. Alvarez  For  For  Management 
 Elect Director James W. Breyer  For  For  Management 
 Elect Director M. Michele Burns  For  For  Management 
 Elect Director James I. Cash, Jr.  For  For  Management 
 Elect Director Roger C. Corbett  For  For  Management 
 Elect Director Douglas N. Daft  For  For  Management 
 Elect Director David D. Glass  For  For  Management 
 Elect Director Gregory B. Penner  For  For  Management 
 Elect Director Allen I. Questrom  For  For  Management 


10  Elect Director H. Lee Scott, Jr.  For  For  Management 
11  Elect Director Arne M. Sorenson  For  For  Management 
12  Elect Director Jim C. Walton  For  For  Management 
13  Elect Director S. Robson Walton  For  For  Management 
14  Elect Director Christopher J. Williams  For  For  Management 
15  Elect Director Linda S. Wolf  For  For  Management 
16  Approve Executive Incentive Bonus Plan  For  For  Management 
17  Ratify Auditors  For  For  Management 
18  Amend EEO Policy to Prohibit  Against  Against  Shareholder 
  Discrimination based on Sexual       
  Orientation and Gender Identity       
19  Pay For Superior Performance  Against  Against  Shareholder 
20  Claw-back of Payments under Restatements  Against  Against  Shareholder 
21  Amend Bylaws to Establish a Board  Against  Against  Shareholder 
  Committee on Human Rights       
22  Advisory Vote to Ratify Named Executive  Against  For  Shareholder 
  Officers' Compensation       
23  Report on Political Contributions  Against  Against  Shareholder 
24  Report on Social and Reputation Impact of Against  Against  Shareholder 
  Failure to Comply with ILO Conventions       
25  Amend Articles/Bylaws/Charter -- Call  Against  Against  Shareholder 
  Special Meetings       

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

WALGREEN CO.         
 
Ticker: WAG  Security ID: 931422109     
Meeting Date: JAN 9, 2008  Meeting Type: Annual     
Record Date: NOV 12, 2007       
 
 Proposal    Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director William C. Foote  For  For  Management 
1.2  Elect Director Alan G. McNally  For  For  Management 
1.3  Elect Director Cordell Reed  For  For  Management 
1.4  Elect Director Jeffrey A. Rein  For  For  Management 
1.5  Elect Director Nancy M. Schlichting  For  For  Management 
1.6  Elect Director David Y. Schwartz  For  For  Management 
1.7  Elect Director Alejandro Silva  For  For  Management 
1.8  Elect Director James A. Skinner  For  For  Management 
1.9  Elect Director Marilou M. von Ferstel  For  For  Management 
1.10  Elect Director Charles R. Walgreen III  For  For  Management 
 Ratify Auditors    For  For  Management 
 Report on Charitable Contributions  Against  Against  Shareholder 
 Submit Shareholder Rights Plan (Poison  Against  Against  Shareholder 
  Pill) to Shareholder Vote       
 Separate Chairman and CEO Positions  Against  Against  Shareholder 

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

WHOLE FOODS MARKET, INC.   
 
Ticker: WFMI  Security ID: 966837106 
Meeting Date: MAR 10, 2008  Meeting Type: Annual 
Record Date: JAN 16, 2008   


 Proposal  Mgt Rec  Vote Cast  Sponsor 
1.1  Elect Director John B. Elstrott  For  For  Management 
1.2  Elect Director Gabrielle E. Greene  For  For  Management 
1.3  Elect Director Hass Hassan  For  For  Management 
1.4  Elect Director John P. Mackey  For  Withhold  Management 
1.5  Elect Director Morris J. Siegel  For  For  Management 
1.6  Elect Director Ralph Z. Sorenson  For  For  Management 
 Ratify Auditors  For  For  Management 
 Require a Majority Vote for the Election  Against  Against  Shareholder 
  of Directors       
 Require Independent Board Chairman  Against  For  Shareholder 



SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

 Dreyfus Appreciation Fund, Inc.
By:  /s/ J. David Officer 
  J. David Officer 
  President 
 
Date:  August 19, 2008