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SIGNATURE LESLIE L. OGG
TITLE VICE PRESIDENT
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<PER-SHARE-DIVIDEND> .02
<PER-SHARE-DISTRIBUTIONS> .35
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.96
<EXPENSE-RATIO> 1.02
</TABLE>
<TABLE>
<CAPTION>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS GROWTH FUND, INC.
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
1. Election of Board members.
H. Brewster Atwater, Jr.
<S> <C> <C> <C>
Affirmative 132,734,673.384 53.201% 98.241%
Withhold 2,376,813.372 .953% 1.759%
TOTAL 135,111,486.756 54.154% 100.000%
Arne H. Carlson
Affirmative 132,454,174.647 53.089% 98.033%
Withhold 2,657,312.109 1.065% 1.967%
TOTAL 135,111,486.756 54.154% 100.000%
Lynne V. Cheney
Affirmative 132,708,961.931 53.191% 98.222%
Withhold 2,402,524.825 .963% 1.778%
TOTAL 135,111,486.756 54.154% 100.000%
William H. Dudley
Affirmative 132,775,418.549 53.217% 98.271%
Withhold 2,336,068.207 .937% 1.729%
TOTAL 135,111,486.756 54.154% 100.000%
David R. Hubers
Affirmative 132,819,530.955 53.235% 98.304%
Withhold 2,291,955.801 .919% 1.696%
TOTAL 135,111,486.756 54.154% 100.000%
Heinz F. Hutter
Affirmative 132,712,573.597 53.192% 98.224%
Withhold 2,398,913.159 .962% 1.776%
TOTAL 135,111,486.756 54.154% 100.000%
Anne P. Jones
Affirmative 132,760,162.383 53.211% 98.260%
Withhold 2,351,324.373 .943% 1.740%
TOTAL 135,111,486.756 54.154% 100.000%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS GROWTH FUND, INC.
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
William R. Pearce
Affirmative 132,706,662.585 53.190% 98.220%
Withhold 2,404,824.171 .964% 1.780%
TOTAL 135,111,486.756 54.154% 100.000%
Alan K. Simpson
Affirmative 132,604,548.777 53.149% 98.145%
Withhold 2,506,937.979 1.005% 1.855%
TOTAL 135,111,486.756 54.154% 100.000%
John R. Thomas
Affirmative 132,803,421.870 53.229% 98.292%
Withhold 2,308,064.886 .925% 1.708%
TOTAL 135,111,486.756 54.154% 100.000%
C. Angus Wurtele
Affirmative 132,706,893.472 53.190% 98.220%
Withhold 2,404,593.284 .964% 1.780%
TOTAL 135,111,486.756 54.154% 100.000%
2. Ratify the selection of independent auditors
Affirmative 131,554,704.514 52.728% 97.368%
Against 1,549,763.968 .621% 1.147%
Abstain 2,007,018.274 .805% 1.485%
TOTAL 135,111,486.756 54.154% 100.000%
3. Change the Fund name from "IDS" to "AXP"
Affirmative 123,164,231.210 49.365% 91.157%
Against 9,597,713.411 3.847% 7.104%
Abstain 2,349,542.135 .942% 1.739%
TOTAL 135,111,486.756 54.154% 100.000%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 3
IDS FUNDS
IDS GROWTH FUND, INC.
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 249,496,728.130
VOTED SHARES 135,111,486.756
PERCENT VOTED 54.154%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS GROWTH FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
1. Election of Board members.
H. Brewster Atwater, Jr.
Affirmative 86,967,996.898 53.942% 98.258%
Withhold 1,541,765.557 .956% 1.742%
TOTAL 88,509,762.455 54.898% 100.000%
Arne H. Carlson
Affirmative 86,813,085.080 53.846% 98.083%
Withhold 1,696,677.375 1.052% 1.917%
TOTAL 88,509,762.455 54.898% 100.000%
Lynne V. Cheney
Affirmative 86,932,747.615 53.920% 98.218%
Withhold 1,577,014.840 .978% 1.782%
TOTAL 88,509,762.455 54.898% 100.000%
William H. Dudley
Affirmative 86,986,568.606 53.954% 98.279%
Withhold 1,523,193.849 .944% 1.721%
TOTAL 88,509,762.455 54.898% 100.000%
David R. Hubers
Affirmative 87,017,930.078 53.973% 98.314%
Withhold 1,491,832.377 .925% 1.686%
TOTAL 88,509,762.455 54.898% 100.000%
Heinz F. Hutter
Affirmative 86,945,604.820 53.928% 98.233%
Withhold 1,564,157.635 .970% 1.767%
TOTAL 88,509,762.455 54.898% 100.000%
Anne P. Jones
Affirmative 86,968,948.184 53.943% 98.259%
Withhold 1,540,814.271 .955% 1.741%
TOTAL 88,509,762.455 54.898% 100.000%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS GROWTH FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
William R. Pearce
Affirmative 86,924,332.903 53.915% 98.209%
Withhold 1,585,429.552 .983% 1.791%
TOTAL 88,509,762.455 54.898% 100.000%
Alan K. Simpson
Affirmative 86,889,693.688 53.893% 98.170%
Withhold 1,620,068.767 1.005% 1.830%
TOTAL 88,509,762.455 54.898% 100.000%
John R. Thomas
Affirmative 87,001,079.827 53.963% 98.295%
Withhold 1,508,682.628 .935% 1.705%
TOTAL 88,509,762.455 54.898% 100.000%
C. Angus Wurtele
Affirmative 86,944,590.867 53.928% 98.232%
Withhold 1,565,171.588 .970% 1.768%
TOTAL 88,509,762.455 54.898% 100.000%
2. Ratify the selection of independent auditors
Affirmative 86,243,624.752 53.493% 97.440%
Against 964,570.773 .598% 1.089%
Abstain 1,301,566.930 .807% 1.471%
TOTAL 88,509,762.455 54.898% 100.000%
3. Change the Fund name from "IDS" to "AXP"
Affirmative 80,479,661.803 49.918% 90.927%
Against 6,463,788.921 4.009% 7.303%
Abstain 1,566,311.731 .971% 1.770%
TOTAL 88,509,762.455 54.898% 100.000%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 3
IDS FUNDS
IDS GROWTH FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
6. Changes to investment policies
6.1 Prohibited conflict of interest
Affirmative 78,800,477.193 48.876% 91.482%
Against 4,458,796.869 2.766% 5.177%
Abstain 2,878,182.393 1.785% 3.341%
TOTAL 86,137,456.455 53.427% 100.000%
Not Voting 2,372,306.000
SHAREHOLDER RESPONSE SUMMARY REPORT Page 4
IDS FUNDS
IDS GROWTH FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 161,224,811.823
VOTED SHARES 88,509,762.455
PERCENT VOTED 54.898%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS GROWTH FUND CLASS B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
4. Approve a new shareholder service and distribution plan
Affirmative 15,014,048.365 44.008% 87.947%
Against 1,414,284.202 4.145% 8.285%
Abstain 643,286.981 1.886% 3.768%
TOTAL 17,071,619.548 50.039% 100.000%
Not Voting 1,254.000
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS GROWTH FUND CLASS B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 34,116,703.262
VOTED SHARES 17,072,873.548
PERCENT VOTED 50.043%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS GROWTH FUND CLASSES A & B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
4. Approve a new shareholder service and distribution plan
Affirmative 63,985,023.493 45.223% 86.807%
Against 7,138,144.261 5.045% 9.684%
Abstain 2,586,257.696 1.828% 3.509%
TOTAL 73,709,425.450 52.096% 100.000%
Not Voting 2,372,306.000
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS GROWTH FUND CLASSES A & B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 141,487,017.676
VOTED SHARES 76,081,731.450
PERCENT VOTED 53.773%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS RESEARCH OPPORTUNITIES FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
1. Election of Board members.
H. Brewster Atwater, Jr.
Affirmative 45,766,676.486 51.847% 98.208%
Withhold 835,047.815 .946% 1.792%
TOTAL 46,601,724.301 52.793% 100.000%
Arne H. Carlson
Affirmative 45,641,089.567 51.705% 97.939%
Withhold 960,634.734 1.088% 2.061%
TOTAL 46,601,724.301 52.793% 100.000%
Lynne V. Cheney
Affirmative 45,776,214.316 51.858% 98.229%
Withhold 825,509.985 .935% 1.771%
TOTAL 46,601,724.301 52.793% 100.000%
William H. Dudley
Affirmative 45,788,849.943 51.873% 98.256%
Withhold 812,874.358 .920% 1.744%
TOTAL 46,601,724.301 52.793% 100.000%
David R. Hubers
Affirmative 45,801,600.877 51.887% 98.283%
Withhold 800,123.424 .906% 1.717%
TOTAL 46,601,724.301 52.793% 100.000%
Heinz F. Hutter
Affirmative 45,766,968.777 51.848% 98.209%
Withhold 834,755.524 .945% 1.791%
TOTAL 46,601,724.301 52.793% 100.000%
Anne P. Jones
Affirmative 45,791,214.199 51.875% 98.261%
Withhold 810,510.102 .918% 1.739%
TOTAL 46,601,724.301 52.793% 100.000%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS RESEARCH OPPORTUNITIES FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
William R. Pearce
Affirmative 45,782,329.682 51.865% 98.242%
Withhold 819,394.619 .928% 1.758%
TOTAL 46,601,724.301 52.793% 100.000%
Alan K. Simpson
Affirmative 45,714,855.089 51.789% 98.097%
Withhold 886,869.212 1.004% 1.903%
TOTAL 46,601,724.301 52.793% 100.000%
John R. Thomas
Affirmative 45,802,342.043 51.888% 98.285%
Withhold 799,382.258 .905% 1.715%
TOTAL 46,601,724.301 52.793% 100.000%
C. Angus Wurtele
Affirmative 45,762,302.605 51.842% 98.199%
Withhold 839,421.696 .951% 1.801%
TOTAL 46,601,724.301 52.793% 100.000%
2. Ratify the selection of independent auditors
Affirmative 45,311,079.762 51.331% 97.230%
Against 585,193.195 .663% 1.256%
Abstain 705,451.344 .799% 1.514%
TOTAL 46,601,724.301 52.793% 100.000%
3. Change the Fund name from "IDS" to "AXP"
Affirmative 42,684,569.407 48.356% 91.594%
Against 3,133,924.490 3.550% 6.725%
Abstain 783,230.404 .887% 1.681%
TOTAL 46,601,724.301 52.793% 100.000%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 3
IDS FUNDS
IDS RESEARCH OPPORTUNITIES FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
5. Approve changes to the Investment Management Services
Agreement
Affirmative 39,948,817.746 45.257% 87.927%
Against 4,065,673.119 4.605% 8.948%
Abstain 1,419,793.436 1.609% 3.125%
TOTAL 45,434,284.301 51.471% 100.000%
Not Voting 1,167,440.000
SHAREHOLDER RESPONSE SUMMARY REPORT Page 4
IDS FUNDS
IDS RESEARCH OPPORTUNITIES FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 88,271,916.307
VOTED SHARES 46,601,724.301
PERCENT VOTED 52.793%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS RESEARCH OPPORTUNITES FUND CLASS B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
4. Approve a new shareholder service and distribution plan
Affirmative 14,509,842.787 44.470% 88.249%
Against 1,397,704.830 4.284% 8.501%
Abstain 534,413.938 1.638% 3.250%
TOTAL 16,441,961.555 50.392% 100.000%
Not Voting 1,150.000
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS RESEARCH OPPORTUNITES FUND CLASS B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 32,628,023.229
VOTED SHARES 16,443,111.555
PERCENT VOTED 50.396%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS RESEARCH OPPORTUNITIES FUND CLASSES A & B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
4. Approve a new shareholder service and distribution plan
Affirmative 40,053,070.314 45.400% 88.156%
Against 4,005,508.283 4.541% 8.817%
Abstain 1,375,476.854 1.559% 3.027%
TOTAL 45,434,055.451 51.500% 100.000%
Not Voting 1,167,440.000
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS RESEARCH OPPORTUNITIES FUND CLASSES A & B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 88,221,807.838
VOTED SHARES 46,601,495.451
PERCENT VOTED 52.823%
</TABLE>
Independent Auditors' Report
on Internal Accounting Control
The Board of Directors and Shareholders
AXP Growth Series, Inc.:
In planning and performing our audit of the financial statements of
AXP Research Opportunities Fund and AXP Growth Fund
(funds within AXP Growth Series, Inc.), for the year ended
July 31, 1999, we considered its internal control, including
control activities for safeguarding securities, in order to
determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to
comply with the requirements of Form N-SAR, not to
provide assurance on the internal control.
The management of AXP Growth Fund, Inc. is responsible for
establishing and maintaining internal control. In fulfilling
this responsibility, estimates and judgments by management
are required to assess the expected benefits and related costs
of controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented
in conformity with generally accepted accounting
principles. Those controls include the safeguarding of
assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or
irregularities may occur and not be detected. Also,
projection of any evaluation of internal control to future
periods is subject to the risk that it may become inadequate
because of changes in conditions or that the effectiveness
of the design and operation may deteriorate.
Our consideration of the internal control would not necessarily
disclose all matters in the internal control that might be
material weaknesses under standards established by the
American Institute of Certified Public Accountants.
A material weakness is a condition in which the
design or operation of one or more of the internal
control components does not reduce to a relatively low
level the risk that errors or irregularities in amounts
that would be material in relation to the financial
statements being audited may occur and not be detected
within a timely period by employees in the normal course
of performing their assigned functions. However, we
noted no matters involving the internal control and
its operation, including controls for safeguarding
securities, that we consider to be a material weakness
as defined above.
This report is intended solely for the information and use
of management, the Board of Directors of AXP Growth
Series, Inc., and the Securities and Exchange Commission
and is not intended to be and should not be used by
anyone other than these specified parties..
KPMG LLP
Minneapolis, Minnesota
September 3, 1999
