Retirement Income Fund
SUPPLEMENT TO THE PROSPECTUSES
Michael J. Dugan, Vice President/Senior Portfolio Manager,
has primary responsibility for making day-to-day investment
decisions for Retirement Income Fund. Mr. Dugan earned a
bachelor s degree in Business Administration and a Master s
degree in Finance from Loyola College in Baltimore. He rejoined
Delaware Investments in 1997 after serving as a Vice President at
Thompson, Siegel and Walmsley, where he managed value-oriented
equity and balanced portfolios. He initially joined Delaware
Investments in 1985. He previously held positions at Capitoline
Investment Services, First National Bank of Maryland, Mercantile
Safe Deposit and Trust Company, and Bache and Company.
