<DOCUMENT>
<TYPE>EX-99.77C VOTES
<SEQUENCE>2
<FILENAME>emdvote.txt
<DESCRIPTION>PROXY
<TEXT>
The Annual Meeting of the Stockholders of the Fund
was held on June 22, 2004. The following is a summary
 of the proposal presented and the total number of shares voted:
Proposal:
1. To elect the following Directors:
	Votes in
Favor of	Votes
Against

	Votes in
Favor of	Votes
Against

Wayne E. Hedien	18,622,287 851,008
James F. Higgins18,622,787850,508
Dr. Manuel H. Johnson18,622,787	850,508


Proxy Voting Policies and Procedures and Proxy Voting Record
A copy of (1) the Funds policies and procedures with respect
 to the voting of proxies relating to the Funds portfolio
 securities; and (2) how the Fund voted proxies relating to
 portfolio securities during the most recent twelve-month
period ended June 30, 2004 is available without charge, upon
 request, by calling 1-800-548-7786 or by visiting our
website at www.morganstanley.com/im.  This information is
 also available on the Securities and Exchange Commissions
 website at www.sec.gov.

</TEXT>
</DOCUMENT>
