UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-08497
Name of Fund: Corporate High Yield Fund III, Inc.
Fund Address: P.O. Box 9011
Princeton, NJ 08543-9011
Name and address of agent for service: Terry K. Glenn, President,
Corporate High Yield Fund III, Inc., 800 Scudders Mill Road,
Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011,
Princeton, NJ, 08543-9011
Registrant's telephone number, including area code: (609) 282-2800
Date of fiscal year end: 05/31/2005
Date of reporting period: 07/01/03 - 06/30/04
Item 1 - Proxy Voting Record
The information contained herein discloses the following information
for each matter relating to a portfolio security considered at any
shareholder meeting held during the period covered by the report and
with respect to which the registrant was entitled to vote:
(a) The name of the issuer of the portfolio security;
(b) The exchange ticker symbol of the portfolio security;
(c) The Council on Uniform Securities Identification Procedures
("CUSIP") number for the portfolio security;
(d) The shareholder meeting date;
(e) A brief identification of the matter voted on;
(f) Whether the matter was proposed by the issuer or by a security
holder;
(g) Whether the registrant cast its vote on the matter;
(h) How the registrant cast its vote; and
(i) Whether the registrant cast its vote for or against management.
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ICA File Number: 811-08497
Reporting Period: 07/01/2003 - 06/30/2004
Corporate High Yield Fund III, Inc.
===================== CORPORATE HIGH YIELD FUND III, INC. ======================
IT GROUP, INC., THE
Ticker: ITX Security ID: 465266AC8
Meeting Date: MAR 22, 2004 Meeting Type: Written Consent
Record Date: JAN 14, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 FIRST AMENDED JOINT CHAPTER 11 PLAN For Abstain Management
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LODGIAN, INC.
Ticker: LGN Security ID: 54021P304
Meeting Date: APR 8, 2004 Meeting Type: Annual
Record Date: MAR 8, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Reverse Stock Split For Against Management
2 Amend Articles For For Management
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LODGIAN, INC.
Ticker: LGN Security ID: 54021P205
Meeting Date: APR 8, 2004 Meeting Type: Annual
Record Date: MAR 8, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Sean F. Armstrong For For Management
1.2 Elect Director Russel S. Bernard For For Management
1.3 Elect Director Stewart J. Brown For For Management
1.4 Elect Director Kenneth A. Caplan For For Management
1.5 Elect Director Stephen P. Grathwohl For For Management
1.6 Elect Director Jonathan D. Gray For Withhold Management
1.7 Elect Director Kevin C. McTavish For For Management
1.8 Elect Director W. Thomas Parrington For For Management
2 Amend Omnibus Stock Plan For For Management
3 Approve Reverse Stock Split For For Management
4 Amend For For Management
Articles/Bylaws/Charter-Organization-Rela
ted
5 Ratify Auditors For For Management
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MICROCELL TELECOMMUNICATION
Ticker: MT.B Security ID: 59501T882
Meeting Date: MAY 5, 2004 Meeting Type: Annual/Special
Record Date: MAR 15, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Ratify Ernst & Young as Auditors and For For Management
Authorise Board to Fix Remuneration of
Auditors.
2 The Resolution to Confirm the General For For Management
By-Law of the Corporation.
3 Confirm the Expiration Time Under the For For Management
Shareholder Rights Plan of the
Corporation.
4 Amend Stock Option Plan For For Management
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.
Corporate High Yield Fund III, Inc.
By: /s/ Terry K. Glenn
Terry K. Glenn,
President of Corporate High Yield Fund III, Inc.
Date: August 10, 2004