Preliminary data from the 2009 proxy season compiled by Manifest's US partner, PROXY Governance, show that the number and percentage of votes withheld for director nominees continue to increase -- with the percentage of director nominees who had at least 30 percent of shareholder votes withheld doubling in 2009 to 5 % of nominees from 2.5 % of nominees in 2008.  Overall, the average support level for director nominees in uncontested elections through Aug. 31 fell to 92.8 % in 2009, down from 94.7 % in 2008 and 95.1 % in 2007.  Vote withhold percentages for firms in the Russell 3000 index are shown below:

Year

Average
Support for
Directors

=>
10 % of votes
withheld

=>
20 % of votes
withheld

= >
30 % of votes
withheld

2007

95.1 %

13.1 %

4.8 %

2.2 %

2008

94.7 %

14.5 %

5.5 %

2.5 %

2009*

92.8 %

20.3 %

9.8 %

5.0 %

* preliminary data through Aug. 31, 2009