August 21, 1995
DELAWARE GROUP VALUE FUND, INC.
Supplement to Prospectuses dated January 30, 1995
The following replaces the portfolio manager information
under Management of the Fund:
Effective August 21, 1995, David C. Dalrymple assumed
primary responsibility for making day-to-day investment decisions
for Delaware Group Value Fund, Inc. (the "Fund"). Mr. Dalrymple
holds a BS in Business Administration from Clarkson College in
Potsdam, NY, and an MBA from Cornell Johnson School of Management
in Ithaca, NY. Prior to joining the Delaware Group in 1991, he
spent five years as an assistant portfolio manager for Lord
Abbett and Co. in New York. Mr. Dalrymple is a Chartered
Financial Analyst and a member of the Financial Analysts of
Philadelphia.
In making investment decisions for the Fund, Mr. Dalrymple
consults with Wayne A. Stork and Richard G. Unruh, Jr. Mr.
Stork, Chairman of the Board of Delaware Management Company, Inc.
("DMC") and the Fund's Board of Directors, is a graduate of Brown
University and attended New York University's Graduate School of
Business Administration. Mr. Stork joined the Delaware Group in
1962 and has served in various executive capacities at different
times within the Delaware organization. Mr. Unruh is a graduate
of Brown University and received his MBA from the University of
Pennsylvania's Wharton School. He joined the Delaware Group in
1982 after 19 years of investment management experience with
Kidder, Peabody & Co. Inc. Mr. Unruh was named an executive vice
president of the Fund in 1994. He is also a member of the Board
of Directors of DMC and was named an executive vice president of
DMC in 1994. He is on the Board of Directors of Keystone
Insurance Company and AAA Mid-Atlantic and is a former president
and current member of the Advisory Council of the Bond Club of
Philadelphia.
