August 21, 1995
DELAWARE GROUP PREMIUM FUND, INC.
VALUE SERIES
Supplement to Prospectus dated May 1, 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 the Value Series (the "Series") of Delaware Group Premium
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 Series, 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.
