Delaware Group Premium Fund
Social Awareness Series
Supplement to Prospectuses dated May 1, 2000
The following replaces the information under the section of
the Prospectus entitled "Portfolio managers" for Social
Awareness Series.
Vantage Investment Advisors began managing the Series in
1997. Effective as of May 1, 2000, Vantage's quantitative
portfolio management team has primary responsibility for the
day-to-day management of the Series. Vantage's investment
team makes all recommendations and decisions regarding the
purchase and sale of individual securities.
