<PAGE>
Supplement to the Current Prospectus
- --------------------------------------------------------------------------------
Delaware Pooled Trust, Inc. December 23, 1998
The following supplements the information in the section of the Prospectus
entitled Performance Information.
Comparative Performance
- ------------------------------------------------------------------------------
The Emerging Markets Portfolio of Delaware Pooled Trust, Inc. ("The Emerging
Markets Portfolio of DPT") commenced operations on April 14, 1997. Delaware
International Advisers Ltd. ("Delaware International"), the investment adviser
to The Emerging Markets Portfolio of DPT, also serves as investment manager to
Delaware Investments' Emerging Markets Fund (the "G&I Emerging Markets Fund"),
which is an investment series of Delaware Group Global & International Funds,
Inc. Shares of the G&I Emerging Markets Fund were initially offered to the
public on June 10, 1996. Except as set forth below, The Emerging Markets
Portfolio of DPT and the G&I Emerging Markets Fund are managed with
substantially similar investment objectives, policies and strategies.
The Emerging Markets Portfolio of DPT has achieved the performance set forth
below for the one-year period ended September 30, 1998, and for the period from
the commencement of its operations on April 14, 1997 through September 30, 1998.
The Institutional Class of the G&I Emerging Markets Fund has achieved the
performance set forth below the one-year period and two-year period ended
September 30, 1998, for the period from April 14, 1997 through September 30,
1998, and for the period from the commencement of operations on June 10, 1996
through September 30, 1998. Performance information for the Morgan Stanley
Capital International Emerging Markets Free Index, an unmanaged index, has also
been provided.
<TABLE>
<CAPTION>
The Emerging Markets G&I Emerging MSCI Emerging
Portfolio of DP (1), (2) Markets Fund (1), (3) Markets Free Index (1), (4)
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
One Year (47.57%) One Year (50.78%) One Year (47.80%)
4/14/97-9/30/98 (32.28%) 4/14/97-9/30/98 (33.92%) 4/30/97-9/30/98 (37.41%)
Two Year (21.52%) Two Year (25.42%)
Lifetime (18.67%) 6/30/96-9/30/98 (24.20%)
</TABLE>
1. Return and share value fluctuate so that shares, when redeemed, may be worth
more or less than their original cost. Past performance is not a guarantee
of future results.
2. The performance presented is the average annual total return for the
one-year period ended September 30, 1998, and for the lifetime period from
the commencement of operations on April 14, 1997 through September 30, 1998
for The Emerging Markets Portfolio of DPT. During the period presented,
Delaware International voluntarily waived its investment management fee
and/or paid fund expenses to the extent necessary to limit total fund
operating expenses to no more than 1.55%. In the absence of such waiver,
performance would have been reduced.
3. The performance presented is the average annual total return for the
one-year period and two-year period ended September 30, 1998, for the period
from April 14, 1997 through September 30, 1998, and for the lifetime period
from the commencement of operations on June 10, 1996 through September 30,
1998 for the G&I Emerging Markets Fund Institutional Class, which is
available only to certain eligible investors. The G&I Emerging Markets Fund
also offers an A Class, B Class and C Class. The performance of the A Class,
B Class, and C Class varies from the performance of the Institutional Class
due to varying expenses. During the period presented, Delaware International
voluntarily waived its investment management fee and/or paid fund expenses
to the extent necessary to limit total fund operating expenses to no more
than 1.70%. In the absence of such waiver, performance would have been
reduced.
4. The performance presented is the average annual total return for the
one-year period and two-year period ended September 30, 1998, for the period
from April 14, 1997 through September 30, 1998, and for the period from June
30, 1996 through September 30, 1998 for the Morgan Stanley Capital
International Emerging Markets Free Index, an unmanaged index of emerging
market stocks. Performance of the index has not been adjusted to reflect
fees or expenses.
<PAGE>
Supplement to the Current Prospectus
- -------------------------------------------------------------------------------
Delaware Pooled Trust, Inc. December 23, 1998
The performance of the G&I Emerging Markets Fund has been presented to provide
investors with additional information on which to base their investment
decision. Emerging markets investment performance can be volatile and should be
evaluated over a multi-year period. The performance of the G&I Emerging Markets
Fund is not the performance of The Emerging Markets Portfolio of DPT and should
not be considered as a substitute for the performance of The Emerging Markets
Portfolio of DPT. The performance of the G&I Emerging Markets Fund should not be
considered indicative of the past or future performance of The Emerging Markets
Portfolio of DPT.
The charts on the following pages contain certain additional performance
information. For a description of the differences between The Emerging Markets
Portfolio of DPT and the G&I Emerging Markets Fund, see Differences Between
Funds.
Differences Between Funds
- -------------------------------------------------------------------------------
The investment objective of The Emerging Markets Portfolio of DPT is identical
to the investment objective of the G&I Emerging Markets Fund and the two funds
invest in substantially similar securities. Investment strategies for the two
funds will be substantially similar; however, because of the nature of investors
in The Emerging Markets Portfolio of DPT, cash flows tend to be substantial and
irregular, while cash flows in the G&I Emerging Markets Fund tend to be more
regular and in smaller amounts. The differences in cash flows may affect the
timing of investment decisions, the relative speed with which such decisions may
be implemented, the investments held by each Fund from time to time, and,
consequently, performance. In addition, investments may be made for each fund
during varying market conditions.
Shares of each of The Emerging Markets Portfolio of DPT and the G&I Emerging
Markets Fund Institutional Class may be purchased and sold without the
imposition of a sales charge; however, investors in The Emerging Markets
Portfolio of DPT are subject to a purchase reimbursement fee and a redemption
reimbursement fee equal in each case to 0.75% (as a percentage of the dollar
amount purchased or redeemed). The reimbursement fees, which are paid directly
to The Emerging Markets Portfolio of DPT, are designed to reflect an
approximation of the brokerage and related transaction costs associated with the
investment of an investor's purchase amount or the disposition of assets to meet
redemptions, and to limit the extent to which The Emerging Markets Portfolio of
DPT and its existing shareholders would have to bear such costs. The G&I
Emerging Markets Fund does not assess reimbursement fees; therefore, all
transaction costs associated with purchases and redemptions are borne by the G&I
Emerging Markets Fund.
After giving effect to voluntary expense limitations described in each fund's
prospectus, the total operating expenses of The Emerging Markets Portfolio of
DPT during the current fiscal year are not expected to exceed 1.55% of the
average net assets of the Portfolio, compared to 1.70% for the Institutional
Class of the G&I Emerging Markets Fund. A component of the total operating
expenses is the investment management fee payable to Delaware International,
which is currently subject to a limit of 1.00% for The Emerging Markets
Portfolio of DPT compared to a maximum fee of 1.25% for the G&I Emerging Markets
Fund.
<PAGE>
Growth of $10,000 Investment
- -------------------------------------------------------------------------------
Distributions Reinvested June 10, 1996 - September 30, 1998
<TABLE>
<CAPTION>
G & I Emerging Lipper Emerging MSCI Emerging Markets
Markets Fund (1) Markets Fund Average (2) Free Index (3)
---------------- ------------------------ ---------------------
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
6/96 10,000 10,000 10,000
7/96 9,582 9,418 9,317
8/96 10,000 9,681 9,556
9/96 10,030 9,750 9,639
10/96 9,850 9,496 9,381
11/96 9,940 9,708 9,539
12/96 10,101 9,877 9,582
1/97 11,066 10,620 10,235
2/97 11,538 10,991 10,673
3/97 11,327 10,738 10,393
4/97 11,628 10,770 10,411
5/97 12,100 11,207 10,709
6/97 12,844 11,783 11,282
7/97 12,995 12,111 11,450
8/97 12,020 10,918 9,994
9/97 12,553 11,350 10,271
10/97 10,744 9,561 8,585
11/97 10,301 9,206 8,272
12/97 10,259 9,309 8,471
1/98 9,462 8,629 7,807
2/98 10,775 9,413 8,622
3/98 10,980 9,772 8,996
4/98 10,991 9,836 8,898
5/98 9,548 8,581 7,679
6/98 8,127 7,800 6,873
7/98 8,277 8,060 7,091
8/98 5,834 5,798 5,041
9/98 6,178 6,011 5,361
</TABLE>
Chart assumes $10,000 invested on June 10, 1996 and includes the effect of the
reinvestment of all dividends and capital gains.
1. Performance of Delaware Group Global & International Funds, Inc. Emerging
Markets Fund (the "G & I Emerging Markets Fund") Institutional Class, net of
management fees and expenses. Past performance may not be indicative of
future results.
2. Performance of the Lipper Emerging Markets Equity Fund Universe consisting
of between 55 and 85 funds during the measurement period. Multiple share
classes are combined and regional or country funds are excluded.
3. Morgan Stanley Capital International Emerging Markets Free Index, an
unmanaged index of emerging markets stocks. The performance of the Index has
not been adjusted to reflect management fees or other expenses.
<PAGE>
Monthly Results
- -------------------------------------------------------------------------------
G & I Emerging Markets Fund June 30, 1996 - September 30, 1998
<TABLE>
<CAPTION>
Delaware Pooled
Trust, Inc.
- The Emerging G & I Emerging MSCI Emerging G & I Emerging Markets
Markets Portfolio Markets Fund Markets Free Index Fund Relative Return*
----------------- ------------ ------------------ ---------------------
percent
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
7/96 -4.2 -6.8 2.8
8/96 4.4 2.6 1.8
9/96 0.3 0.9 -0.6
10/96 -1.8 -2.7 0.9
11/96 0.9 1.7 -0.8
12/96 1.6 0.5 1.2
1/97 9.6 6.8 2.6
2/97 4.3 4.3 0.0
3/97 -1.8 -2.6 0.8
4/97 2.7 0.2 2.5
5/97 4.6 4.1 2.9 1.2
6/97 5.9 6.2 5.4 0.8
7/97 0.4 1.2 1.5 -0.3
8/97 -8.4 -7.5 -12.7 6.0
9/97 4.9 4.4 2.8 1.6
10/97 -14.7 -14.4 -16.4 2.4
11/97 -2.7 -4.1 -3.7 -0.5
12/97 0.5 -0.4 2.4 -2.8
1/98 -5.4 -7.8 -7.8 0.1
2/98 11.2 13.9 10.4 3.1
3/98 1.8 1.9 4.3 -2.3
4/98 0.3 0.1 -1.1 1.2
5/98 -12.3 -13.1 -13.7 0.7
6/98 -14.0 -14.9 -10.5 -4.9
7/98 2.1 1.9 3.2 -1.3
8/98 -27.5 -29.5 -28.9 -0.9
9/98 4.9 5.9 6.3 -0.4
</TABLE>
* G & I Emerging Markets Fund Relative Return is the geometric difference
between the monthly performance of the Delaware Group Global & International
Funds, Inc. Emerging Markets Fund (the "G & I Emerging Markets Fund")
Institutional Class, net of management fees and expenses, and the Morgan
Stanley Capital International Emerging Markets Free Index, an unmanaged index
of emerging markets stocks. For example, (1.044 / 1.026) - 1 = 1.8%.
Performance of the Index has not been adjusted to reflect management fees or
other expenses. Past performance may not be indicative of future results.
<PAGE>
Defensive Characteristics(1)
- -------------------------------------------------------------------------------
June 30, 1996 - September 30, 1998
<TABLE>
<CAPTION>
G & I Emerging MSCI Emerging US Consumer
Markets Fund(2) Markets Free Index(3) Price Index(4) Number of Months
--------------- --------------------- --------------- ----------------
<S> <C> <C> <C> <C>
percent
Bull Market Performance 83.1 72.5 16
Bear Market Performance -66.3 -68.9 11
Total Performance
(Annualized)(5) -19.3 -24.2 1.9 27
</TABLE>
1. A Bull Market month is defined as one in which the MSCI EMF Index showed a
positive US dollar return, and a Bear Market month as one in which the MSCI
EMF Index showed a negative US dollar return. Bull Market Performance and
Bear Market Performance have not been annualized. Past performance may not
be indicative of future results.
2. Compound total return of Delaware Group Global & International Funds, Inc.
Emerging Markets Fund (the "G & I Emerging Markets Fund") Institutional
Class, net of management fees and expenses.
3. Morgan Stanley Capital International Emerging Markets Free Index is an
unmanaged index of emerging markets stocks. The compound total return of
the Index has not been adjusted to reflect management fees or other
expenses.
4. Source: United States Bureau of Labor Statistics. Data is for Consumer Price
Index - All Urban Consumers.
5. Total performance is calculated as the compound product of the Bull Market
period and the Bear Market period. For example, the G & I Emerging Markets
Fund performance is calculated as follows: (1 + 0.831) x (1 - 0.663) = (1 -
0.383) or (19.3%) annualized.
<PAGE>
Comparative Annualized Performance
Against Competitors(1)
- -------------------------------------------------------------------------------
June 30, 1996 - September 30, 1998
Maximum -5.3%
25th Percentile -18.6%
G&I Emerging Markets Fund(2) -19.3%
Median -21.0%
75th Percentile -23.4%
MSCI Emerging Markets Free Index(3) -24.2%
Minimum -36.4%
1. Percentile, Maximum, Median and Minimum data are from Lipper Emerging
Markets Equity Fund Universe, consisting of 57 funds during the measurement
period. Multiple share classes are combined and regional or country funds
are excluded.
2. Performance represents the compound total return of the Delaware Group
Global & International Funds, Inc. Emerging Markets Fund (the "G & I
Emerging Markets Fund") Institutional Class for the period June 30, 1996 to
September 30, 1998 and is net of management fees and fund expenses. The
average annual total return for the lifetime period from the commencement of
operations on June 10, 1996 through September 30, 1998 is -18.67% and for
the one-year period ended September 30, 1998 is -50.78%, and two-year period
ended September 30, 1998 is -21.52%. Past performance may not be indicative
of future results.
3. Morgan Stanley Capital International Emerging Markets Free Index is an
unmanaged index of emerging markets stocks. Performance represents the
compound total return of the Index and has not been adjusted to reflect
management fees or other expenses.
