Sub-Item 77C: Matters submitted to a vote of
security holders
A proposal to approve a Co-Advisory Agreement
between the Capital Appreciation Portfolio and Delaware
Management Company was passed by the majority of
shareholders of the Portfolio at a special
shareholders' meeting held on May 17, 2000, for the
purpose of voting on the proposal. 3,260,945 shares
were voted for the proposal, 139 shares against and
1,950 shares abstained from voting. Effective June 1,
2000, Delaware Management Company replaced Investment
Advisers, Inc. as the Portfolio's Co-Adviser.
