<DOCUMENT>
<TYPE>EX-99.77B
<SEQUENCE>3
<FILENAME>e400947_ex99-2.txt
<DESCRIPTION>A DESCRIPTION OF THE FUND'S PROXY VOTING
<TEXT>

                             ANNUAL MEETING REPORT

An Annual Meeting of Shareholders was held on June 24, 2004 at 9:00 a.m. The
Shareholders voted to elect two Trustees of the Fund to hold office for a term
of three years or until their respective successors shall have been duly elected
and qualified.

                                      For           Withheld    Broker Non votes
                                      ---           --------    ----------------
Lawrence S. Lewin                  10,381,625        222,827           0
Uwe E. Reinhardt, Ph.D.            10,381,680        222,772           0

These nominees were elected to serve until the 2007 Annual Meeting of
Shareholders. Robert P. Mack, M.D., Eric Oddleifson and Oleg M. Pohotsky will
serve until the 2005 Annual Meeting. Trustees serving until the 2006 Annual
Meeting are Daniel R. Omstead, EngScD and Henri A. Termeer.

</TEXT>
</DOCUMENT>
