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2000 ANNUAL MEETING OF STOCKHOLDERS
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On June 29, 2000, the Fund held an annual meeting to:
1. Elect three trustees,
2. Ratify the appointment of KPMG LLP as the Fund's independent accountants
for 2000, and
3. Consider whether to convert the Fund from a closed-end investment company
into an open-end investment company. The Fund's Declaration of Trust
required a shareholder vote on this question, because the Fund's shares had
traded at an average discount of more than 10% to its net asset value over
a 12-week-period beginning after the most recent such vote.
Proxies representing 19,096,939, or 58.40% of the 32,698,976 eligible shares
outstanding, were voted. The results are show below. The trustees of the Fund
recommended that stockholders vote against the conversion proposal. The
affirmative votes of a majority of the shares outstanding was required in order
to pass the proposal. Of the 32,698,976 shares outstanding, less than 9% were
voted for conversion. Management of the Fund expressed its appreciation for the
support of stockholders on this matter.
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For Withheld
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Nominees to the Board of Trustees
Edward P. Collins 18,974,912 122,027
Pedro-Pablo Kuczynski 18,967,012 122,927
Gregory Kuo-Hua Wang 14,086,382 5,030,557
Messrs. Theodore S.S. Cheng, Daniel K.L. Chiang, David N. Laux, Alfred F. Miossi
and Robert P. Parker, whose terms did not expire in 2000, are the remaining
trustees.
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For Against Abstain
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KPMG LLP as independent
accountants for 2000 19,024,381 7,890 64,668
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For Against Abstain
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Conversion of the Fund from a
closed-end to and open-end
investment company 2,727,187 6,454,579 2,491,987
Proxies covering 7,423,186 shares, or 38.87% of the shares represented at the
meeting, were not voted on this issue.
