Supplement dated March 24, 2000
to the current Statement of Additional Information
for the following Funds
Delaware American Government Bond Fund
Delaware American Services Fund
Delaware Balanced Fund
Delaware Blue Chip Fund
Delaware Cash Reserve Fund
Delaware Corporate Bond Fund
Delaware Decatur Equity Income Fund
Delaware DelCap Fund
Delaware Delchester Fund
Delaware Devon Fund
Delaware Diversified Growth Fund
Delaware Diversified Value Fund
Delaware Emerging Markets Fund
Delaware Extended Duration Bond Fund
Delaware Foundation Funds Balanced Portfolio
Delaware Foundation Funds Growth Portfolio
Delaware Foundation Funds Income Portfolio
Delaware Global Bond Fund
Delaware Global Equity Fund
Delaware Global Opportunities Fund
Delaware Growth and Income Fund
Delaware Growth Stock Fund
Delaware High-Yield Opportunities Fund
Delaware International Equity Fund
Delaware International Small Cap Fund
Delaware Large Cap Growth Fund
Delaware Latin America Fund
Delaware Limited-Term Government Fund
Delaware Mid-Cap Value Fund
Delaware Minnesota High-Yield Municipal Bond Fund
Delaware Minnesota Insured Fund
Delaware Montana Municipal Bond Fund
Delaware National High-Yield Municipal Bond Fund
Delaware New Europe Fund
Delaware New Pacific Fund
Delaware Overseas Equity Fund
Delaware REIT Fund
Delaware Research Fund
Delaware Retirement Income Fund
Delaware S&P 500 Index Fund
Delaware Select Growth Fund
Delaware Small Cap Contrarian Fund
Delaware Small Cap Value Fund
Delaware Social Awareness Fund
Delaware Strategic Income Fund
Delaware Tax-Efficient Equity Fund
Delaware Tax-Free Arizona Fund
Delaware Tax-Free Arizona Insured Fund
Delaware Tax-Free California Fund
Delaware Tax-Free California Insured Fund
Delaware Tax-Free Colorado Fund
Delaware Tax-Free Florida Fund
Delaware Tax-Free Florida Insured Fund
Delaware Tax-Free Idaho Fund
Delaware Tax-Free Insured Fund
Delaware Tax-Free Iowa Fund
Delaware Tax-Free Insured Fund
Delaware Tax-Free Kansas Fund
Delaware Tax-Free Minnesota Fund
Delaware Tax-Free Minnesota Intermediate Fund
Delaware Tax-Free Missouri Insured Fund
Delaware Tax-Free Money Fund
Delaware Tax-Free New Jersey Fund
Delaware Tax-Free New Mexico Fund
Delaware Tax-Free New York Fund
Delaware Tax-Free North Dakota Fund
Delaware Tax-Free Ohio Fund
Delaware Tax-Free Oregon Insured Fund
Delaware Tax-Free Pennsylvania Fund
Delaware Tax-Free Wisconsin Fund
Delaware Tax-Free USA Fund
Delaware Tax-Free USA Intermediate Fund
Delaware Technology and Innovation Fund
Delaware Trend Fund
Delaware U.S. Government Securities Fund
Delaware U.S. Growth Fund
The following supplements the section Buying Class A Shares at
Net Asset Value under Purchasing Shares for Delaware Tax-Free USA
Intermediate Fund and Delaware American Government Bond Fund:
Class A Shares of the Delaware Tax-Free USA Intermediate
Fund and Delaware American Government Bond Fund may be purchased
at net asset value by any investor within 90 days after a
redemption of shares from a fund outside of funds in the Delaware
Investments family 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.
The following supplements the information under Redemption and
Exchange for each Fund noted above:
Redemptions of Timing Accounts
Redemption requests made from Timing Accounts will be made
only by check. Redemption proceeds from these accounts will not
be wired to shareholder bank accounts. Such checks will be sent
no later than seven days after receipt of a redemption request in
good order.
The following revises information for Delaware DelCap Fund:
Effective as of the close of business March 30, 2000, the name of
Delaware DelCap Fund will change to Delaware Growth Opportunities
Fund. Corresponding changes will also be made to the names of the
Fund's classes.
