<PAGE> PAGE 1
000 A000000 12/31/1998
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001 A000000 DELAWARE GROUP EQUITY FUNDS III, INC.
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001 C000000 2152552127
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020 B000001 13-2655998
020 C000001 54
020 A000002 BT ALEX BROWN
020 B000002 13-3311934
020 C000002 36
020 A000003 DONALDSON LUFKIN & JENRETTE SECURITIES CORP.
020 B000003 13-2741729
020 C000003 32
020 A000004 CREDIT SUISSE FIRST BOSTON CORP.
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020 C000004 26
020 A000005 JEFFERIES & COMPANY, INC.
020 B000005 95-2622900
020 C000005 24
020 A000006 BLAIR (WILLIAM) & COMPANY L.L.C.
020 B000006 36-2214610
020 C000006 20
020 A000007 MERRILL LYNCH PIERCE FENNER & SMITH, INC.
<PAGE> PAGE 2
020 B000007 13-5674085
020 C000007 19
020 A000008 MORGAN (J.P.) SECURITIES, INC.
020 B000008 13-3224016
020 C000008 19
020 A000009 GERARD KLAUER MATTISON & CO., INC.
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022 C000002 12791
022 D000002 14404
022 A000003 RS INVESTMENT MANAGEMENT
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022 D000003 10220
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<PAGE> PAGE 5
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SIGNATURE KENNETH E. CROCKETT, SR.
TITLE BLUE SKY ADMIN.