January 14, 1997
Tax-Free Pennsylvania Fund
A Class/B Class/C Class
(April 29, 1996)
International Equity Fund
Global Assets Fund
Global Bond Fund
Emerging Markets Fund
A Class/B Class/C Class
(May 1, 1996)
Supplement to Prospectuses Dated as Noted Above
The NAV purchase accommodation program described under
Buying Class A Shares at Net Asset Value in the Prospectus has
been discontinued. This program permitted prospective investors
in Class A Shares of the above Funds to purchase shares of a Fund
at net asset value within 90 days after a redemption of shares
from a fund outside the Delaware Group of funds provided that:
1) the redeemed shares were purchased no more than five years
before the proposed purchase of Class A Shares of a Fund; and 2)
a front-end sales charge was paid in connection with the purchase
of the redeemed shares or a contingent deferred sales charge was
paid upon their redemption.
In addition, effective November 1, 1996, the "NAV/Delaware
Group Asset Planner Accommodation Program," described under
Buying Class A Shares at Net Asset Value in the Prospectus, has
been discontinued. This program permitted certain investors who
were already shareholders in any Delaware Group fund or, with the
exception of investors of Tax-Free Pennsylvania Fund, those who
were transferring assets into a Delaware Group individual
retirement account ("IRA") from another IRA outside the Delaware
Group or from a qualified plan distribution to invest in Delaware
Group funds at net asset value when using the Asset Planner
service. All share purchases through Delaware Group Asset
Planner are now subject to applicable sales charges. Delaware
Group Asset Planner is an asset allocation service that gives
investors, working with a financial professional, the ability to
more easily design and maintain investments in a diversified
selection of Delaware Group mutual funds. See The Delaware
Difference and How to Buy Shares in each Delaware Group fund
prospectus.
Also effective November 1, 1996, the annual $35 Asset
Planner fee is waived until further notice. Investors who utilize
the Asset Planner for an IRA will continue to pay the annual IRA
fee of $15 per Social Security number.
