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<PAGE> PAGE 2
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<PAGE> PAGE 10
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SIGNATURE LESLIE L. OGG
TITLE VICE PRESIDENT
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<NAME> AXP BOND FUND CLASS A
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<NAME> AXP BOND FUND CLASS B
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SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS BOND FUND, INC.
June 16, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
1. Election of Board members.
H. Brewster Atwater, Jr.
<S> <C> <C> <C>
Affirmative 465,988,132.632 55.792% 98.740%
Withhold 5,944,909.370 .712% 1.260%
TOTAL 471,933,042.002 56.504% 100.000%
Arne H. Carlson
Affirmative 464,981,130.838 55.672% 98.527%
Withhold 6,951,911.164 .832% 1.473%
TOTAL 471,933,042.002 56.504% 100.000%
Lynne V. Cheney
Affirmative 465,804,015.408 55.770% 98.701%
Withhold 6,129,026.594 .734% 1.299%
TOTAL 471,933,042.002 56.504% 100.000%
William H. Dudley
Affirmative 465,977,869.588 55.791% 98.738%
Withhold 5,955,172.414 .713% 1.262%
TOTAL 471,933,042.002 56.504% 100.000%
David R. Hubers
Affirmative 466,113,224.286 55.807% 98.767%
Withhold 5,819,817.716 .697% 1.233%
TOTAL 471,933,042.002 56.504% 100.000%
Heinz F. Hutter
Affirmative 465,888,506.284 55.780% 98.719%
Withhold 6,044,535.718 .724% 1.281%
TOTAL 471,933,042.002 56.504% 100.000%
Anne P. Jones
Affirmative 465,920,124.504 55.784% 98.726%
Withhold 6,012,917.498 .720% 1.274%
TOTAL 471,933,042.002 56.504% 100.000%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS BOND FUND, INC.
June 16, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
William R. Pearce
Affirmative 465,704,363.003 55.758% 98.680%
Withhold 6,228,678.999 .746% 1.320%
TOTAL 471,933,042.002 56.504% 100.000%
Alan K. Simpson
Affirmative 465,551,534.937 55.740% 98.648%
Withhold 6,381,507.065 .764% 1.352%
TOTAL 471,933,042.002 56.504% 100.000%
John R. Thomas
Affirmative 466,042,236.847 55.799% 98.752%
Withhold 5,890,805.155 .705% 1.248%
TOTAL 471,933,042.002 56.504% 100.000%
C. Angus Wurtele
Affirmative 465,914,336.416 55.783% 98.725%
Withhold 6,018,705.586 .721% 1.275%
TOTAL 471,933,042.002 56.504% 100.000%
2. Ratify the selection of independent auditors
Affirmative 460,753,360.591 55.165% 97.631%
Against 5,043,445.734 .604% 1.069%
Abstain 6,136,235.677 .735% 1.300%
TOTAL 471,933,042.002 56.504% 100.000%
3. Change the Fund name from "IDS" to "AXP"
Affirmative 432,765,908.431 51.814% 91.701%
Against 31,663,562.493 3.791% 6.709%
Abstain 7,503,571.078 .899% 1.590%
TOTAL 471,933,042.002 56.504% 100.000%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 3
IDS FUNDS
IDS BOND FUND, INC.
June 16, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
6. Changes to investment policies
6.1 Prohibited conflict of interest
Affirmative 429,380,600.895 51.409% 93.191%
Against 16,774,696.206 2.009% 3.641%
Abstain 14,595,946.901 1.747% 3.168%
TOTAL 460,751,244.002 55.165% 100.000%
Not Voting 11,181,798.000
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 4
IDS FUNDS
IDS BOND FUND, INC.
June 16, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 835,222,595.747
VOTED SHARES 471,933,042.002
PERCENT VOTED 56.504%
C37
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS BOND FUND, INC. CLASS B
June 16, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
4. Approve a new shareholder service and distribution plan
Affirmative 104,802,828.361 45.338% 89.902%
Against 8,530,026.750 3.690% 7.317%
Abstain 3,241,362.920 1.402% 2.781%
TOTAL 116,574,218.031 50.430% 100.000%
Not Voting 2,549.000
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS BOND FUND, INC. CLASS B
June 16, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 231,158,946.402
VOTED SHARES 116,576,767.031
PERCENT VOTED 50.431%
C37
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS BOND FUND, INC. CLASSES A & B
June 16, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
4. Approve a new shareholder service and distribution plan
Affirmative 380,428,376.160 49.083% 90.196%
Against 28,703,474.502 3.703% 6.805%
Abstain 12,647,993.786 1.632% 2.999%
TOTAL 421,779,844.448 54.418% 100.000%
Not Voting 11,180,786.000
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS BOND FUND, INC. CLASSES A & B
June 16, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 775,072,498.640
VOTED SHARES 432,960,630.448
PERCENT VOTED 55.861%
</TABLE>
Independent Auditors' Report
The board and shareholders AXP Bond Fund, Inc.
We have audited the accompanying statement of assets and liabilities, including
the schedule of investments in securities, of AXP Bond Fund, Inc. as of August
31, 1999, and the related statement of operations for the year then ended and
the statements of changes in net assets for each of the years in the two-year
period then ended, and the financial highlights for each of the years in the
five-year period ended August 31, 1999. These financial statements and the
financial highlights are the responsibility of fund management. Our
responsibility is to express an opinion on these financial statements and the
financial highlights based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements and the financial
highlights are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. Our procedures included confirmation of securities owned as of
August 31, 1999, by correspondence with the custodian and brokers. An audit also
includes assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of AXP Bond Fund, Inc. as of
August 31, 1999, and the results of its operations, changes in its net assets
and the financial highlights for the periods stated in the first paragraph
above, in conformity with generally accepted accounting principles.
KPMG LLP
Minneapolis, Minnesota
October 1, 1999
