SCMF 2005 Proxy Votes

2003 | 2004

Proxy Votes 2005
For the Period 1/1/05 to 6/30/05

quick select:

Company Name

Ticker

Date

Issue(s)

indicates shareholder proposal

Co
Mgmt

SC
Funds

Activision Inc.

ATVI

4/4/2005

Increase Authorized Common Stock	For	Abstain
		Top>

Alltel Corp.

4/21/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
		Top>

American Eagle Outfitters Inc.

AEOS

6/15/2005

Elect Directors	For	Withhold
Adopt the 2005 Stock Award and Incentive Plan	For	Against
		Top>

Amgen

AMGN

5/11/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
Review or Promote Animal Welfare	Against	For
Link Executive Pay to Social Criteria	Against	For
Require Option Shares to be Held	Against	Abstain
		Top>

Apple Computer Inc.

AAPL

4/21/2005

Elect Directors	For	Withhold
Approve Annual Bonus Plan	For	For
Adopt Stock Incentive Plan	For	Against
Add Shares to Employee Stock Purchase Plan	For	For
Ratify Selection of Auditors	For	Against
Restrict Executive Compensation	Against	For
		Top>

Astoria Financial Corp.

5/18/2005

Elect Directors	For	Withhold
Adopt the 2005 Stock Incentive Plan	For	Against
Ratify Selection of Auditors	For	Against
		Top>

Autodesk Inc.

ADSK

6/23/2005

Elect Directors	For	Withhold
Adopt the 2006 Stock Plan	For	Against
Increase Authorized Common Stock	For	Against
Adopt the Executive Incentive Plan	For	Against
Ratify Selection of Auditors	For	Against
		Top>

Bank of America Corp.

BAC

4/27/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
Review Political Spending or Lobbying	Against	For
Double Board Nominees	Against	For
		Top>

Baxter International Inc.

BAX

5/3/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
Adopt Cumulative Voting	Against	For
Limit Non-Audit Fees	Against	For
Repeal Classified Board	Against	For
		Top>

Bear Stearns Companies, Inc.

BSC

4/7/2005

Elect Directors	For	Withhold
Amend Annual Bonus Plan	For	For
Ratify Selection of Auditors	For	Against
		Top>

Bed Bath & Beyond Inc.

BBBY

6/30/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
Monitor/Adopt ILO Conventions	Against	For
Require Option Shares to be Held	Against	For
Repeal Classified Board	Against	For
		Top>

Borland Software Corp.

BORL

5/13/2005

Elect Directors	For	Withhold
Repeal Classified Board	For	For
Amend & Add Shares to the 2002 Stock Incentive Plan	For	Against
Add Shares to the 1999 Employee Stock Purchase Plan	For	For
Ratify Selection of Auditors	For	Against
		Top>

Cadence Design Systems Inc.

CDN

5/11/2005

Elect Directors	For	Withhold
Add Shares to Director Stock Incentive Plan	For	Against
Ratify Selection of Auditors	For	For
		Top>

Captial One Financial Corp.

COF

4/28/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
Majority Vote to Elect Directors	Against	For
Restrict Executive Compensation	Against	For
		Top>

Celgene

CELG

6/15/2005

Elect Directors	For	Withhold
Add Shares to the 1998 Stock Incentive Plan	For	Against
Adopt the 1995 Non-Employee Director's Incentive Plan	For	Against
Ratify Selection of Auditors	For	Against
		Top>

CenturyTel Inc.

CTL

5/12/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
Adopt Stock Incentive Plan	For	Against
Adopt Director Stock Incentive Plan	For	Against
Approve Annual Bonus Plan	For	For
		Top>

Cephalon Inc.

CEPH

5/18/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
		Top>

Comcast Corp.

CMCSA

6/1/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
Amend Stock Award Plan	For	Against
Review Political Spending or Lobbying	Against	For
Independent Board Chairman	Against	For
Redeem or Vote on Poison Pill	Against	For
Eliminate Dual Class Stock	Against	For
		Top>

Costco Wholesale Corp.

COST

1/27/2005

Elect Directors	For	Withhold
Amend Stock Incentive Plan	For	Against
Monitor/Adopt ILO Conventions	Against	For
Preserve/Report on Natural Habitat	Against	For
Ratify Selection of Auditors	For	For
		Top>

Countrywide Financial Corp.

CFC

6/15/2005

Elect Directors	For	Withhold
Amend Annual Bonus Plan	For	For
Ratify Selection of Auditors	For	For
		Top>

Deluxe Corp.

DLX

4/27/2005

Elect Directors	For	For
Ratify Selection of Auditors	For	Against
		Top>

Doral Financial Corp.

DRL

4/20/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
		Top>

Ebay Inc.

EBAY

6/23/2005

Elect Directors	For	Withhold
Reapprove Option/Bonus Plan for OBRA	For	Against
Increase Authorized Common Stock	For	Against
Ratify Selection of Auditors	For	Against
Restrict Executive Compensation	Against	For
Majority Vote to Elect Directors	Against	For
		Top>

Equifax Inc.

EFX

5/17/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
		Top>

Fastenal

FAST

4/19/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
		Top>

First Data Corp.

FDC

5/11/2005

Elect Directors	For	Withhold
Add Shares to the Employee Stock Purchase Plan	For	For
Amend Annual Bonus Plan	For	Abstain
Ratify Selection of Auditors	For	Against
Review Job Cuts or Relocations	Against	For
Director Liability	Against	For
		Top>

Fremont General Corp.

FMT

5/19/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
		Top>

Gilead Sciences, Inc.

GILD

5/10/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
Amend & Add Shares to Stock Incentive Plan	For	Against
Review AIDS Pandemic's Impact on Company	Against	For
		Top>

Grainger(WW) Inc.

GWW

4/27/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
Adopt Stock Incentive Plan	For	Against
		Top>

Hershey Co.

HSY

4/19/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	For
Increase Authorized Common Stock	For	Against
Approve Name Change	For	For
		Top>

Hewlett-Packard Co.

HPQ

3/16/2005

Elect Lawrence T. Babbio Jr.	For	For
Elect Patricia C. Dunn	For	Withhold
Elect Richard A. Hackborn	For	For
Elect George A. Keyworth II	For	Withhold
Elect Robert E. Knowling Jr.	For	For
Elect Thomas J. Perkins	For	For
Elect Robert L. Ryan	For	Withhold
Elect Lucille S. Salhany	For	For
Elect Robert P. Wayman	For	For
Ratify Selection of Auditors	For	Against
Add Shares to Employee Stock Purchase Plan	For	For
		Top>

Humana

HUM

4/26/2005

Elect Directors	For	Withhold
		Top>

IndyMac Bancorp Inc.

NDE

4/27/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
		Top>

International Bancshares Corp.

IBOC

5/16/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
Increase Authorized Common Stock	For	Against
Adopt the 2005 Stock Option Plan	For	Against
		Top>

Jefferson-Pilot Corp.

5/2/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
		Top>

KeyCorp

KEY

5/5/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
		Top>

Kroger Co.

6/23/2005

Elect Directors	For	Withhold
Adopt the 2005 Long-Term Incentive Plan	For	Against
Ratify Selection of Auditors	For	Against
Eliminate Supermajority Provision	Against	For
Review or Promote Animal Welfare	Against	For
Golden Parachutes	Against	For
		Top>

Lowe's Companies Inc.

LOW

5/27/2005

Elect Directors	For	Withhold
Amend Director Stock Incentive Plan	For	Abstain
Ratify Selection of Auditors	For	Against
		Top>

LSI Logic Corp.

LSI

5/12/2005

Elect Directors	For	Withhold
Ratify Selection of Auditors	For	Against
		Top>

MBIA Inc.

MBI

5/5/2005

Elect Directors	For	Withhold
Approve Annual Bonus Plan	For	For
Adopt Stock Incentive Plan	For	Against
Eliminate Supermajority Requirement for Business Trans	For	For
Restore Written Consent	For	For
Ratify Selection of Auditors	For	Against
		Top>

McAfee Inc.

MFE

5/25/2005

Elect Directors

For

Withhold