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SIGNATURE EDWARD J. VEILLEUX
TITLE VICE PRESIDENT
<TABLE> <S> <C>
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<NAME> SWISS HELVETIA FUND, INC.
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RESOLVED, that Article I, Section 10 of the By Laws is restated to read
as follows:
ARTICLE I
Stockholders
SECTION 10. Advance Notice of Stockholder Nominees for Director and
Other Stockholder Proposals.
(a) The matters to be considered and brought before any annual or
special meeting of stockholders of the Corporation shall be limited to only such
matters, including the nomination and election of directors, as shall be brought
properly before such meeting in compliance with the procedures set forth in this
Section 10.
(b) For any matter to be properly before any annual meeting of
stockholders, the matter must be (i) specified in the notice of annual meeting
given by or at the direction of the Board of Directors, (ii) otherwise brought
before the annual meeting by or at the direction of the Board of directors or
(iii) brought before the annual meeting in the manner specified in this Section
10(b) by a stockholder of record entitled to vote at the annual meeting or a
person (a "Nominee Holder") that holds voting securities entitled to vote at
such meeting of stockholders through a nominee or "street name" holder of record
and can demonstrate to the Corporation such indirect ownership and such Nominee
Holder's entitlement to vote such securities at the annual meeting on such
matter. In addition to any other requirements under applicable law and the
Certificate of Incorporation and By-Laws of the Corporation, persons nominated
by stockholders for election as directors of the Corporation and any other
proposals by stockholders shall be properly brought before the meeting only if
notice of any such matter to be presented by a stockholder at such meeting of
stockholders (the "Stockholder Notice") shall be delivered to the Secretary of
the Corporation at the principal executive office of the Corporation not less
than ninety (90) nor more than one hundred and twenty (120) days prior to the
first anniversary date of the annual meeting for the preceding year; provided,
however, if and only if the annual meeting is not scheduled to be held within a
period that commences thirty (30) days before such anniversary date and ends
thirty (30) days after such anniversary date (an annual meeting date outside
such period being referred to herein as an "Other Annual Meeting Date"), such
Stockholder Notice shall be given in the manner provided herein by the later of
the close of business on (i) the date ninety (90) days prior to such Other
Meeting Date or (ii) the tenth (10th) day following the date such Other Annual
Meeting Date is first publicly announced or disclosed. Any stockholder desiring
to nominate any person or persons (as the case may be) for election as a
director or directors of the Corporation shall deliver, as part of such
Stockholder Notice: (i) a
21
<PAGE>
statement in writing setting forth (A) the name of the person or persons to be
nominated, (B) the number and class of all shares of each class of stock of the
Corporation owned of record and beneficially by each such person, as reported to
such stockholder by such nominee(s), (C) the information regarding each such
person required by paragraphs (a), (e) and (f) of Item 401 of Regulation S-K or
paragraph (b) of Item 22 of Rule 14a-101 under the Securities Exchange Act of
1934, as amended (the "Exchange Act"), adopted by the Securities and Exchange
Commission (or the corresponding provisions of any regulation or rule
subsequently adopted by the Securities and Exchange Commission applicable to the
Corporation), (D) whether such stockholder believes any nominee will be an
"interested person" of the Corporation (as defined in the Investment Company Act
of 1940, as amended) and, if not an "interested person," information regarding
each nominee that will be sufficient for the Corporation to make such
determination, and (E) the number and class of all shares of each class of stock
of the Corporation owned of record and beneficially by such stockholder; (ii)
each such person's signed consent to serve as a director of the Corporation if
elected and such stockholder's name and address; and, (iii) in the case of a
Nominee Holder, evidence establishing such Nominee Holder's indirect ownership
of, and entitlement to vote, securities at the meeting of stockholders. Any
stockholder who gives a Stockholder Notice of any matter proposed to be brought
before the meeting (not involving nominees for director) shall deliver, as part
of such Stockholder Notice, the text of the proposal to be presented and a brief
written statement of the reasons why such stockholder favors the proposal and
setting forth such stockholder's name and address, the number and class of all
shares of each class of stock of the Corporation owned of record and
beneficially by such stockholder, if applicable, any material interest of such
stockholder in the matter proposed (other than as a stockholder) and, in the
case of a Nominee Holder, evidence establishing such Nominee Holder's indirect
ownership of, and entitlement to vote, securities at the meeting of
stockholders. As used herein, shares "beneficially owned" shall mean all shares
which such person is deemed to beneficially own pursuant to Rules 13d-3 and
13d-5 under the Exchange Act. If a stockholder is entitled to vote only for a
specific class or category of directors at a meeting (annual or special), such
stockholder's right to nominate one or more individuals for election as a
director at the meeting shall be limited to such class or category of directors.
Notwithstanding anything in this Section 10(b) to the contrary, in the
event that the number of directors to be elected to the Board of Directors of
the Corporation at the next annual meeting is increased and either all of the
nominees for director at the next annual meeting or the size of the increased
Board of Directors are not publicly announced or disclosed by the Corporation at
least seventy (70) days prior to the first anniversary of the preceding year's
annual meeting, a Stockholder Notice shall also be considered timely hereunder,
but only with respect to nominees for any new positions created by such
increase, if it shall be delivered to the Secretary of the Corporation at the
principal executive office of the Corporation not later than the close of
business on the tenth (10th) day following the first date all of such nominees
or the size of the increased Board of directors shall have been publicly
announced or disclosed.
22
<PAGE>
(c) Except as provided in the immediately following sentence, only
such matters shall be properly brought before a special meeting of stockholders
as shall have been brought before the meeting pursuant to the Corporation's
notice of meeting. In the event the Corporation calls a special meeting of
stockholders for the purpose of electing one or more directors to the Board of
Directors, any stockholder may nominate a person or persons (as the case may
be), for election to such position(s) as specified in the Corporation's notice
of meeting, if the Stockholder Notice required by Section 10(b) hereof shall be
delivered to the Secretary of the Corporation at the principal executive office
of the Corporation not later than the close of business on the tenth (10th) day
following the day on which the date of the special meeting and either the names
of the nominees proposed by the Board of Directors to be elected at such meeting
or the number of directors to be elected is publicly announced or disclosed.
(d) For purposes of this Section 10, a matter shall be deemed to have
been "publicly announced or disclosed" if such matter is disclosed in a press
release reported by the Dow Jones News Service, Associated Press or comparable
national news service or in a document publicly filed by the Corporation with
the Securities and Exchange Commission.
(e) In no event shall the adjournment of an annual meeting or special
meeting, or any announcement thereof, commence a new period for giving of notice
as provided in this Section 10. This Section 10 shall not apply to stockholder
proposals made pursuant to Rule 14a-8 under Exchange Act.
(f) The person presiding at any meeting of stockholders, in addition
to making any other determinations that may be appropriate to the conduct of the
meeting, shall have the power and duty to determine whether notice of nominees
and other matters proposed to be brought before a meeting has been duly given in
the manner provided in this Section 10 and, if not so given, shall direct and
declare at the meeting that such nominees and other matters shall not be
considered.
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