OPPORTUNITY PARTNERS L.P.
60 Heritage Drive
Pleasantville, NY 10570
Phone (914) 747-5262
December 9, 2000
David F. Conner
Secretary
Lincoln National Convertible Securities Fund, Inc.
C/o Delaware Investments
2005 Market Street
Philadelphia, PA 19103
Dear Mr. Conner:
Since we filed our letter to you dated December 5, 2000 on EDGAR,
a number of shareholders have asked us to afford them an
opportunity to vote on an open-ending proposal. Therefore,
unless the board is willing to present its own open-ending
proposal, please be advised that in addition to the matters we
specified in our December 5 letter we intend to present the
following proposal for a vote by stockholders:
"The shareholders of Lincoln National Convertible Securities
Fund, Inc. request that it be converted to an open-end fund."
To reiterate what we stated in our December 5th letter, we intend
to solicit proxies from all stockholders for the next annual
meeting on all matters to be voted upon at the meeting including
the above proposal and the election of directors.
Please advise us as soon as possible if the board has changed the
bylaws in any way that would affect the submission of this
proposal or if you believe there is any reason whatsoever that we
may not present it for a vote or why we may not solicit proxies
and vote them as instructed.
Very truly yours,
Phillip Goldstein
Portfolio Manager
