July 1, 1998
Delaware-Voyageur Minnesota High Yield Municipal Bond Fund
National High Yield Municipal Bond Fund
Class A Shares/Class B Shares/Class C Shares
Supplement to the Prospectuses dated April 30, 1998 for the above
Referenced Funds
The following amends all of the sections of the relevant Prospectus
discussing the dealer's commission that may be payable on purchases of $1
million or more of Class A Shares and the Limited CDSC applicable to
redemptions of those shares:
Beginning July 1, 1998, for initial purchases of Class A
Shares of $1 million or more, a dealer's commission may be paid
by the Distributor to financial advisers through whom such
purchases are made in accordance with the following schedule:
Dealer's Commission
(as a percentage of
Amount of Purchase amount purchased)
Up to $5 million 1.00%
Next $20 million up to $25 million 0.50
Amount over $25 million 0.25
Such Class A Shares are subject to a Limited CDSC of 1% if shares
are redeemed during the first year after purchase and 0.50% if
shares are redeemed during the second year after purchase.
The Limited CDSC will be paid to the Distributor and will be
assessed on an amount equal to the lesser of (1) the net asset
value at the time of purchase of the Class A Shares being
redeemed or (2) the net asset value of such Class A Shares at the
time of redemption.
Redemptions of such Class A Shares held for more than two
years will not be subjected to the Limited CDSC and an exchange
of such Class A Shares into another fund in the Delaware
Investments family will not trigger the imposition of the Limited
CDSC at the time of such exchange. The period a shareholder owns
shares into which Class A Shares are exchanged will count towards
satisfying the two-year holding period. The Limited CDSC is
assessed if such two-year period is not satisfied irrespective of
whether the redemption triggering its payment is of Class A
Shares of a Fund or Class A Shares acquired in the exchange.
