<SEC-DOCUMENT>0001206774-12-003076.txt : 20120725
<SEC-HEADER>0001206774-12-003076.hdr.sgml : 20120725
<ACCEPTANCE-DATETIME>20120725162843
ACCESSION NUMBER:		0001206774-12-003076
CONFORMED SUBMISSION TYPE:	N-PX
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20120630
FILED AS OF DATE:		20120725
DATE AS OF CHANGE:		20120725
EFFECTIVENESS DATE:		20120725

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Flaherty & Crumrine PREFERRED INCOME OPPORTUNITY FUND INC
		CENTRAL INDEX KEY:			0000882071
		IRS NUMBER:				954355600
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		N-PX
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06495
		FILM NUMBER:		12979166

	BUSINESS ADDRESS:	
		STREET 1:		301 E COLORADO BLVD STE 720
		STREET 2:		C/O FLAHERTY & CRUMRINE INC
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101
		BUSINESS PHONE:		(626) 795-7300

	MAIL ADDRESS:	
		STREET 1:		301 COLORADO BLVD STE 720
		STREET 2:		C/O FLAHERTY & CRUMRINE INC
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PREFERRED INCOME OPPORTUNITY FUND INC
		DATE OF NAME CHANGE:	19920929
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-PX
<SEQUENCE>1
<FILENAME>fcpiof_npx.htm
<DESCRIPTION>ANNUAL REPORT OF PROXY VOTING RECORD
<TEXT>

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<P align=center><FONT face="Times New Roman">UNITED STATES<BR></FONT><FONT face="Times New Roman">SECURITIES AND EXCHANGE COMMISSION<BR>Washington, DC 20549
</FONT></P>
<P align=center><B><FONT face="Times New Roman">FORM N-PX</FONT></B><FONT face="Times New Roman">
</FONT></P>
<P align=center><B><FONT face="Times New Roman">ANNUAL REPORT OF PROXY VOTING RECORD OF
REGISTERED<BR>MANAGEMENT INVESTMENT COMPANY</FONT></B></P>
<P align=center><FONT face="Times New Roman">Investment Company Act file number
</FONT><U><FONT face="Times New Roman">811-06495 </FONT></U><FONT face="Times New Roman"></FONT></P>
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  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="100%"><FONT face="Times New Roman">Flaherty &amp; Crumrine Preferred Income Opportunity Fund Incorporated</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman">(Exact name of registrant as specified in
    charter)</FONT></TD></TR></TABLE><BR>
<DIV align=center>
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  <TR vAlign=bottom>
    <TD style="text-align: center" width="100%"><FONT face="Times New Roman">301 E. Colorado Boulevard, Suite 720</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="100%"><FONT face="Times New Roman">Pasadena,
      CA 91101</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman">(Address of principal executive offices) (Zip
    code)</FONT></TD></TR></TABLE></DIV><BR><BR>
<DIV align=center>
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  <TR vAlign=bottom>
    <TD style="text-align: center" width="100%"><FONT face="Times New Roman">Donald F. Crumrine</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman">Flaherty &amp; Crumrine Incorporated</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman">301 E. Colorado Boulevard, Suite 720</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="100%"><FONT face="Times New Roman">Pasadena,
      CA 91101</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman">(Name and address of agent for
  service)</FONT></TD></TR></TABLE></DIV><BR>
<P align=center><FONT face="Times New Roman">Registrant's telephone number, including area
code: </FONT><U><FONT face="Times New Roman">626-795-7300</FONT></U></P>
<P align=center><FONT face="Times New Roman">Date of fiscal year end: </FONT><U><FONT face="Times New Roman">November 30</FONT></U><B><FONT face="Times New Roman"> </FONT></B></P>
<P align=center><FONT face="Times New Roman">Date of reporting period: </FONT><U><FONT face="Times New Roman">July 1, 2011 &#150; June 30, 2012</FONT></U><FONT face="Times New Roman"> </FONT></P>
<P STYLE="text-align: justify"><FONT face="Times New Roman">Form N-PX is to be used by a registered
management investment company, other than a small business investment company
registered on Form N-5 (&#167;&#167; 239.24 and 274.5 of this chapter), to file reports
with the Commission, not later than August 31 of each year, containing the
registrant's proxy voting record for the most recent twelve-month period ended
June 30, pursuant to section 30 of the Investment Company Act of 1940 and rule
30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information
provided on Form N-PX in its regulatory, disclosure review, inspection, and
policymaking roles. </FONT></P>
<P STYLE="text-align: justify"><FONT face="Times New Roman">A registrant is required to disclose the
information specified by Form N-PX, and the Commission will make this
information public. A registrant is not required to respond to the collection of
information contained in Form N-PX unless the Form displays a currently valid
Office of Management and Budget ("OMB") control number. Please direct comments
concerning the accuracy of the information collection burden estimate and any
suggestions for reducing the burden to the Secretary, Securities and Exchange
Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this
collection of information under the clearance requirements of 44 U.S.C. &#167; 3507.
</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman">PROXY VOTING RECORD </FONT></B></P>
<P align=center><B><FONT face="Times New Roman">FOR PERIOD JULY 1, 2011 TO JUNE 30, 2012
</FONT></B></P>

<P align=left><B><FONT face=serif size=1>REGISTRANT</FONT></B><B><FONT face=serif size=1> </FONT></B><B><FONT face=serif size=1>NAME:</FONT></B><B><FONT face=serif size=1> </FONT></B><B><FONT face=serif size=1>Flaherty</FONT></B><B><FONT face=serif size=1> &amp;
</FONT></B><B><FONT face=serif size=1>Crumrine</FONT></B><B><FONT face=serif size=1> </FONT></B><B><FONT face=serif size=1>Preferred</FONT></B><B><FONT face=serif size=1> </FONT></B><B><FONT face=serif size=1>Income</FONT></B><B><FONT face=serif size=1> </FONT></B><B><FONT face=serif size=1>Opportunity</FONT></B><B><FONT face=serif size=1> Fund
</FONT></B><B><FONT face=serif size=1>Incorporated<BR>INVESTMENT</FONT></B><B><FONT face=serif size=1>
</FONT></B><B><FONT face=serif size=1>COMPANY</FONT></B><B><FONT face=serif size=1> ACT FILE </FONT></B><B><FONT face=serif size=1>NUMBER:</FONT></B><B><FONT face=serif size=1> 811 -
06495<BR></FONT></B><B><FONT face=serif size=1>REPORTING</FONT></B><B><FONT face=serif size=1> </FONT></B><B><FONT face=serif size=1>PERIOD:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>07/01/2011</U></FONT></B><B><FONT face=serif size=1><U> -
</U></FONT></B><B><FONT face=serif size=1><U>06/30/2012<BR></U>REGISTRANT
ADDRESS:</FONT></B><B><FONT face=serif size=1> 301 E. </FONT></B><B><FONT face=serif size=1>Colorado</FONT></B><B><FONT face=serif size=1>
</FONT></B><B><FONT face=serif size=1>Boulevard,</FONT></B><B><FONT face=serif size=1> Suite 720, </FONT></B><B><FONT face=serif size=1>Pasadena,</FONT></B><B><FONT face=serif size=1> </FONT></B><B><FONT face=serif size=1>California</FONT></B><B><FONT face=serif size=1>
91101<BR></FONT></B><B><FONT face=serif size=1>NAME</FONT></B><B><FONT face=serif size=1> OF </FONT></B><B><FONT face=serif size=1>SERIES</FONT></B><B><FONT face=serif size=1> (AS </FONT></B><B><FONT face=serif size=1>APPLICABLE): __________________________________</FONT></B></P>
<TABLE style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD NOWRAP WIDTH="19%" BGCOLOR="#c0c0c0" STYLE="border: #000000 1.5pt solid; text-align: center; vertical-align: middle"><B><FONT face=serif size=1>Issuer of
      Portfolio Security</FONT></B></TD>
    <TD NOWRAP WIDTH="8%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-top: #000000 1.5pt solid; text-align: center; vertical-align: middle"><B><FONT face=serif size=1>Exchange<BR>Ticker<BR>Symbol</FONT></B></TD>
    <TD NOWRAP WIDTH="8%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-top: #000000 1.5pt solid; text-align: center; vertical-align: middle"><B><FONT face=serif size=1>CUSIP
      #</FONT></B></TD>
    <TD NOWRAP WIDTH="8%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-top: #000000 1.5pt solid; text-align: center; vertical-align: middle"><STRONG><FONT size=1>Shareholder<BR>Meeting Date</FONT></STRONG></TD>
    <TD NOWRAP WIDTH="25%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-top: #000000 1.5pt solid; text-align: center; vertical-align: middle"><B><FONT face=serif size=1>Summary of
      Matter Voted On</FONT></B></TD>
    <TD NOWRAP WIDTH="8%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-top: #000000 1.5pt solid; text-align: center; vertical-align: middle"><B><FONT face=serif size=1>Who
      Proposed<BR>Matter: Issuer /<BR>Shareholder</FONT></B></TD>
    <TD NOWRAP WIDTH="8%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-top: #000000 1.5pt solid; text-align: center; vertical-align: middle"><STRONG><FONT size=1>Whether<BR>Fund
      Cast<BR>Vote on<BR>Matter</FONT></STRONG></TD>
    <TD NOWRAP WIDTH="8%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-top: #000000 1.5pt solid; text-align: center; vertical-align: middle"><STRONG><FONT size=1>Fund's Vote For
      or<BR>Against Proposal,<BR>or Abstain; For or<BR>Withhold<BR>Regarding
      Election<BR>of Directors</FONT></STRONG></TD>
    <TD NOWRAP WIDTH="8%" BGCOLOR="#c0c0c0" STYLE="border-right: #000000 1.5pt solid; border-bottom: #000000 1.5pt solid; border-top: #000000 1.5pt solid; text-align: center; vertical-align: middle"><STRONG><FONT size=1>Whether Vote<BR>Was
      For or<BR>Against<BR>Management</FONT></STRONG></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>AON CORP</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>AON</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>037389AK9</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/18/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Approve
      auditor</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Issuer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>AON CORP</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>AON</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>037389AK9</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/18/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Advisory vote to
      approve executive compensation</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Issuer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>AON CORP</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>AON</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>037389AK9</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/18/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Approve
      director</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Issuer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>BANK OF AMERICA
      CORP</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>BAC</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>060505559</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/9/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Approve
      directors</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Issuer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>BANK OF AMERICA
      CORP</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>BAC</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>060505559</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/9/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Advisory say on pay
      vote to approve executive compensation</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Issuer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>BANK OF AMERICA
      CORP</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>BAC</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>060505559</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/9/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Approve
      auditor</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Issuer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>BANK OF AMERICA
      CORP</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>BAC</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>060505559</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/9/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Mortgage servicing
      operations</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Security
    Holder</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Against</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>BANK OF AMERICA
      CORP</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>BAC</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>060505559</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/9/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Disclosure of
      government employment</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Security
    Holder</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Against</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>BANK OF AMERICA
      CORP</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>BAC</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>060505559</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/9/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Grassroots and other
      lobbying</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Security
    Holder</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Against</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>BANK OF AMERICA
      CORP</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>BAC</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>060505559</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/9/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Prohibition on
      political spending</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Security
    Holder</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Against</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>Exelon
      Corporation</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>EXC</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>30161N101</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>4/2/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Approve
      auditor</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Issuer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>Exelon
      Corporation</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>EXC</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>30161N101</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>4/2/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Advisory vote to
      approve executive compensation</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Issuer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>Exelon
      Corporation</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>EXC</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>30161N101</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>4/2/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Approve
      directors</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Issuer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>PPL
      Corporation</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>PPL</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>69351T106</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/16/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Approve 2012 stock
      incentive plan</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Issuer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>PPL
      Corporation</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>PPL</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>69351T106</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/16/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Approve
      auditor</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Issuer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>PPL
      Corporation</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>PPL</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>69351T106</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/16/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Approve
      directors</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Issuer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>PPL
      Corporation</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>PPL</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>69351T106</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/16/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Advisory vote to
      approve named executive officer compensation</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Issuer</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face=serif size=1>PPL
      Corporation</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>PPL</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>69351T106</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT size=1>5/16/2012</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face=serif size=1>Director election
      majority vote</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Security
    Holder</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Yes</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>Against</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face=serif size=1>For</FONT></TD></TR></TABLE>
<BR>

<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P STYLE="text-align: center"><B><FONT face="Times New Roman">SIGNATURES </FONT></B></P>
<P STYLE="text-align: justify"><FONT face="Times New Roman">Pursuant to the requirements of the Investment
Company Act of 1940, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized. </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman">Registrant</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="96%"><FONT face="Times New Roman">Flaherty &amp; Crumrine Preferred Income Opportunity Fund Incorporated</FONT></TD></TR></TABLE><BR><BR>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="10%"><FONT face="Times New Roman">By (Signature and Title)*</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="89%"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; /s/ Donald F.
  Crumrine</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="10%"></TD>
    <TD noWrap align=left width="89%"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; Donald F. Crumrine, Director,
      Chairman of the Board and Chief</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="10%"></TD>
    <TD noWrap align=left width="89%"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; Executive Officer</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="10%"></TD>
    <TD noWrap align=left width="89%"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; (principal executive
      officer)</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="10%">&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="89%"></TD></TR></TABLE><BR><BR>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman">Date</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="97%"><FONT face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      7/24/2012</FONT></TD></TR></TABLE><BR><BR>
<P align=left><FONT face="Times New Roman">*Print the name and title of each signing officer
under his or her signature. </FONT></P>
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