VOYAGEUR INTERMEDIATE TAX FREE FUNDS, INC.
Delaware-Voyageur Tax-Free Minnesota Intermediate Fund
Supplement to the current Prospectus
The Board of Directors of Voyageur Intermediate Tax
Free Funds, Inc. (the Company ) unanimously voted, subject to
shareholder approval, to adopt a new Investment Management
Agreement between the Company and Delaware Management Company
(the Manager ) for the Delaware-Voyageur Tax-Free Minnesota
Intermediate Fund. Pursuant to the current Investment Management
Agreement, the Fund pays the Manager an annual fee equal to 0.40%
of the Fund s average daily net assets. Under the proposed
Investment Management Agreement, the Fund will pay the Manager an
annual fee equal to 0.50% on the first $500 million, 0.475% on
the next $500 million, 0.45% on the next $1.5 billion, and 0.425%
on assets over $2.5 billion (all calculated as a percentage of
the Fund s average daily net assets).
Individuals who were shareholders of the Fund on
January 18, 1999 will be asked to approve the proposed Investment
Management Agreement at a Joint Annual/Special Meeting of
Shareholders to be held on or about March 17, 1999. The proposed
management fee is expected to become effective on or about April
1, 1999 if shareholders approve the proposed Investment
Management Agreement.
