DELAWARE GROUP VALUE FUND INC
NSAR-A, 1996-07-29
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001 A000000 DELAWARE GROUP VALUE FUND, INC.
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020 C000001     29
020 A000002 FIRST BOSTON CORP. (THE)
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020 C000002     24
020 A000003 BROWN (ALEX) & SONS, INC.
020 B000003 52-1319768
020 C000003     19
020 A000004 MERRIL LYNCH, PIERCE, FENNER & SMITH, INC.
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SIGNATURE   ROSEMARY E. MILNER                           
TITLE       VICE PRESIDENT      
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000809821
<NAME> DELAWARE GROUP VALUE FUND, INC.
<SERIES>
   <NUMBER> 001
   <NAME> VALUE FUND A CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                      173,369,989
<INVESTMENTS-AT-VALUE>                     202,965,944
<RECEIVABLES>                                5,419,856
<ASSETS-OTHER>                                  42,146
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             208,427,946
<PAYABLE-FOR-SECURITIES>                     1,889,439
<SENIOR-LONG-TERM-DEBT>                              0
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<TOTAL-LIABILITIES>                          1,972,291
<SENIOR-EQUITY>                                 85,178
<PAID-IN-CAPITAL-COMMON>                   152,877,158
<SHARES-COMMON-STOCK>                        7,697,670
<SHARES-COMMON-PRIOR>                        7,776,729
<ACCUMULATED-NII-CURRENT>                      320,928
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     23,577,684
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    29,594,707
<NET-ASSETS>                               186,605,271
<DIVIDEND-INCOME>                            1,357,776
<INTEREST-INCOME>                              388,849
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,455,237
<NET-INVESTMENT-INCOME>                        291,388
<REALIZED-GAINS-CURRENT>                    23,732,978
<APPREC-INCREASE-CURRENT>                  (1,663,748)
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    1,863,274
<DISTRIBUTIONS-OF-GAINS>                     6,909,642
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        738,941
<NUMBER-OF-SHARES-REDEEMED>                  1,194,067
<SHARES-REINVESTED>                            376,067
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<ACCUMULATED-GAINS-PRIOR>                    7,285,169
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          734,964
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,455,237
<AVERAGE-NET-ASSETS>                       181,390,555
<PER-SHARE-NAV-BEGIN>                           22.760
<PER-SHARE-NII>                                  0.036
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<PER-SHARE-DIVIDEND>                             0.240
<PER-SHARE-DISTRIBUTIONS>                        0.890
<RETURNS-OF-CAPITAL>                             0.000
<PER-SHARE-NAV-END>                             24.240
<EXPENSE-RATIO>                                  1.460
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000809821
<NAME> DELAWARE GROUP VALUE FUND, INC.
<SERIES>
   <NUMBER> 002
   <NAME> VALUE FUND B CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1996
<PERIOD-END>                               MAY-31-1996
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<INVESTMENTS-AT-VALUE>                     202,965,944
<RECEIVABLES>                                5,419,856
<ASSETS-OTHER>                                  42,146
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             208,427,946
<PAYABLE-FOR-SECURITIES>                     1,889,439
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       82,852
<TOTAL-LIABILITIES>                          1,972,291
<SENIOR-EQUITY>                                 85,178
<PAID-IN-CAPITAL-COMMON>                   152,877,158
<SHARES-COMMON-STOCK>                          394,513
<SHARES-COMMON-PRIOR>                          256,143
<ACCUMULATED-NII-CURRENT>                      320,928
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     23,577,684
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    29,594,707
<NET-ASSETS>                                 9,517,126
<DIVIDEND-INCOME>                            1,357,776
<INTEREST-INCOME>                              388,849
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,455,237
<NET-INVESTMENT-INCOME>                        291,388
<REALIZED-GAINS-CURRENT>                    23,732,978
<APPREC-INCREASE-CURRENT>                  (1,663,748)
<NET-CHANGE-FROM-OPS>                       22,360,618
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       25,335
<DISTRIBUTIONS-OF-GAINS>                       237,353 
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        161,363
<NUMBER-OF-SHARES-REDEEMED>                     34,466
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<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          734,964
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,455,237
<AVERAGE-NET-ASSETS>                         7,504,953
<PER-SHARE-NAV-BEGIN>                           22.590
<PER-SHARE-NII>                                 (0.044)
<PER-SHARE-GAIN-APPREC>                          2.559
<PER-SHARE-DIVIDEND>                             0.095
<PER-SHARE-DISTRIBUTIONS>                        0.890
<RETURNS-OF-CAPITAL>                             0.000
<PER-SHARE-NAV-END>                             24.120
<EXPENSE-RATIO>                                  2.160
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000809821
<NAME> DELAWARE GROUP VALUE FUND, INC.
<SERIES>
   <NUMBER> 003
   <NAME> VALUE FUND C CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                      173,369,989
<INVESTMENTS-AT-VALUE>                     202,965,944
<RECEIVABLES>                                5,419,856
<ASSETS-OTHER>                                  42,146
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             208,427,946
<PAYABLE-FOR-SECURITIES>                     1,889,439
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       82,852
<TOTAL-LIABILITIES>                          1,972,291
<SENIOR-EQUITY>                                 85,178
<PAID-IN-CAPITAL-COMMON>                   152,877,158
<SHARES-COMMON-STOCK>                           87,568
<SHARES-COMMON-PRIOR>                              221
<ACCUMULATED-NII-CURRENT>                      320,928
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     23,577,684
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    29,594,707
<NET-ASSETS>                                 2,110,967
<DIVIDEND-INCOME>                            1,357,776
<INTEREST-INCOME>                              388,849
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,455,237
<NET-INVESTMENT-INCOME>                        291,388
<REALIZED-GAINS-CURRENT>                    23,732,978
<APPREC-INCREASE-CURRENT>                  (1,663,748)
<NET-CHANGE-FROM-OPS>                       22,360,618
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                           67
<DISTRIBUTIONS-OF-GAINS>                           214
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         87,788
<NUMBER-OF-SHARES-REDEEMED>                        454
<SHARES-REINVESTED>                                 13
<NET-CHANGE-IN-ASSETS>                      16,358,080
<ACCUMULATED-NII-PRIOR>                      2,017,066
<ACCUMULATED-GAINS-PRIOR>                    7,285,169
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          734,964
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,455,237
<AVERAGE-NET-ASSETS>                           587,806
<PER-SHARE-NAV-BEGIN>                           22.760
<PER-SHARE-NII>                                 (0.043)
<PER-SHARE-GAIN-APPREC>                          2.563
<PER-SHARE-DIVIDEND>                             0.280
<PER-SHARE-DISTRIBUTIONS>                        0.890
<RETURNS-OF-CAPITAL>                             0.000
<PER-SHARE-NAV-END>                             24.110
<EXPENSE-RATIO>                                  2.160
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000809821
<NAME> DELAWARE GROUP VALUE FUND, INC.
<SERIES>
   <NUMBER> 004
   <NAME> VALUE FUND INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1996
<PERIOD-END>                               MAY-31-1996
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<INVESTMENTS-AT-VALUE>                     202,965,944
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<OTHER-ITEMS-ASSETS>                                 0
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<SENIOR-LONG-TERM-DEBT>                              0
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<ACCUMULATED-NII-CURRENT>                      320,928
<OVERDISTRIBUTION-NII>                               0
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<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    29,594,707
<NET-ASSETS>                                 8,222,291
<DIVIDEND-INCOME>                            1,357,776
<INTEREST-INCOME>                              388,849
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,455,237
<NET-INVESTMENT-INCOME>                        291,388
<REALIZED-GAINS-CURRENT>                    23,732,978
<APPREC-INCREASE-CURRENT>                  (1,663,748)
<NET-CHANGE-FROM-OPS>                       22,360,618
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       98,850    
<DISTRIBUTIONS-OF-GAINS>                       293,254
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        168,114
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<NET-CHANGE-IN-ASSETS>                      16,358,080
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<ACCUMULATED-GAINS-PRIOR>                    7,285,169
<OVERDISTRIB-NII-PRIOR>                              0
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<RETURNS-OF-CAPITAL>                             0.000
<PER-SHARE-NAV-END>                             24.320
<EXPENSE-RATIO>                                  1.160
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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