DELAWARE GROUP ADVISER FUNDS, INC.
New Pacific Fund
Supplement to the current Prospectus
The Board of Directors of Delaware Group Adviser 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 New Pacific Fund. Under the current Investment Management
Agreement, the Fund pays the Manager an annual fee equal to 0.80%
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 0.85% on the first $500 million, 0.80% on the
next $500 million, 0.75% on the next $1.5 billion, and 0.70% 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
December 21, 1998 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.
