LINCOLN NATIONAL MANAGED FUND, INC.
SUPPLEMENT DATED SEPTEMBER 30, 2000, TO THE PROSPECTUS DATED MAY 1, 2000,
AS SUPPLEMENTED MAY 1, 2000
This supplement describes certain changes to the Prospectus for Lincoln
National Managed Fund, Inc. (the "fund").
Under the section titled "Investment advisor and portfolio manager", on
page M-7, the last sentence of the second paragraph and the entire third and
fourth paragraphs are completely replaced with the following:
"Vantage's address is 2005 Market Street, Philadelphia, PA 19103.
J. Paul Dokas, Vice President of Lincoln Investment, has
assumed responsibility for managing the process by which the fund determines
the timing and amount of the investments in each investment category.
Effective September 30, 2000, Ryan Brist, Vice President and
Portfolio Manager of Lincoln Investment Management, Inc. assumed respon-
sibility for the management of the debt obligations category of the fund.
Prior to joining Lincoln Investment, Mr. Brist was Senior Trader and
Corporate Specialist for Conseco Capital Management from 1995 to 2000. From
1993 to 1995, Mr. Brist was a Corporate Finance Analyst at Dean Witter
Reynolds in New York. Mr. Brist received a bachelor's degree in finance from
Indiana University.
Vantage is responsible for the day-to-day management of the fund's
stock category of investments. Vantage, founded in 1979, is a U.S. domestic
equity manager with over $3.6 billion in assets under management. Vantage
began managing the Fund's stock category of investments in 1985. J. Paul Dokas,
in his capacity as Managing Director at Vantage has assumed responsibility for
managing the stock category of the fund. Prior to joining Lincoln Investment and
Vantage, Mr. Dokas was the Director of Trust Investment at Bell Atlantic
Corporation where he was responsible for the investment strategies and asset
allocation for more than $10 billion in assets in the company's defined
benefit and defined contribution plans. Mr. Dokas is a Chartered Financial
Analyst and a member of the Association of Investment Management and Research.
He is also a Director of the Financial Analysts Society of Philadelphia."
