Delaware Investments(R)Family of Funds

              Supplement to the current Prospectuses for each Fund
                   (each, a "Fund," and together, the "Funds")

The following  supplements the information about the Funds' investment  manager,
Delaware   Management   Company   (the   "Manager"),   included  in  the  Funds'
prospectuses.

On August 19,  2009,  Lincoln  National  Corporation  announced  that one of its
subsidiaries  signed a stock  purchase  agreement to sell  ownership of Delaware
Management Holdings, Inc. and its subsidiaries (also known by the marketing name
of Delaware  Investments)  including the Manager,  to Macquarie  Group, a global
provider  of  banking,  financial,  advisory,  investment  and funds  management
services.  In connection with this  announcement,  the Funds' Boards of Trustees
(the "Board") will meet to consider:  (1) new investment  management  agreements
between the Manager and the Funds;  and (2) the  submission of a proposal to the
Funds'  shareholders to approve the new investment  management  agreements.  The
Funds'  prospectuses  will be  further  supplemented  to  announce  the  Board's
determinations.

                Please keep this supplement for future reference.

This supplement is dated August 19, 2009.

785845-2