VOYAGEUR FUNDS, INC.
Delaware-Voyageur US Government Securities Fund
Supplement to the current Prospectus
The Board of Directors of Voyageur Funds, Inc. (the
"Company") unanimously voted, subject to shareholder approval,
to adopt a new Investment Management Agreement between the
Company and Delaware Management Company (the "Manager") for the
Delaware-Voyageur US Government Securities Fund. Under the
current Investment Management Agreement, the Fund pays the
Manager an annual fee equal to 0.50% of the Fund s average
daily net assets. Under the proposed Investment Management
Agreement, the Fund will pay the Manager an annual fee equal to
0.55% on the first $500 million, 0.50% on the next $500
million, 0.45% on the next $1.5 billion, and 0.425% on assets
over $2.5 billion (all calculated as a percentage of the Fund s
average daily net assets).
Individuals who were shareholders of the Fund on
January 18, 1999 will be asked to approve the proposed
Investment Management Agreement at a Joint Annual/Special
Meeting of Shareholders to be held on or about March 17, 1999.
The proposed management fee is expected to become effective on
or about April 1, 1999 if shareholders approve the proposed
Investment Management Agreement.
