SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
[X] Filed by the Registrant
[ ] Filed by a Party other than the Registrant
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Sec. 240.14a-12
Delaware Investments Arizona Municipal
Income Fund, Inc.
--------------------------------------------------------------------------------
(Name of Registrant as Specified In Its Charter)
--------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
1. Title of each class of securities to which transaction applies:
2. Aggregate number of securities to which transaction applies:
3. Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined):
4. Proposed maximum aggregate value of transaction:
5. Total fee paid:
[ ] Fee paid previously with preliminary proxy materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
1) Amount Previously Paid:
------------------------------------------------------------------------
2) Form, Schedule or Registration Statement No.:
------------------------------------------------------------------------
3) Filing Party:
------------------------------------------------------------------------
4) Date Filed:
------------------------------------------------------------------------
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
[X] Filed by the Registrant
[ ] Filed by a Party other than the Registrant
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Sec. 240.14a-12
Delaware Investments Colorado Insured
Municipal Income Fund, Inc.
--------------------------------------------------------------------------------
(Name of Registrant as Specified In Its Charter)
--------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
1. Title of each class of securities to which transaction applies:
2. Aggregate number of securities to which transaction applies:
3. Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined):
4. Proposed maximum aggregate value of transaction:
5. Total fee paid:
[ ] Fee paid previously with preliminary proxy materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
1) Amount Previously Paid:
------------------------------------------------------------------------
2) Form, Schedule or Registration Statement No.:
------------------------------------------------------------------------
3) Filing Party:
------------------------------------------------------------------------
4) Date Filed:
------------------------------------------------------------------------
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
[X] Filed by the Registrant
[ ] Filed by a Party other than the Registrant
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Sec. 240.14a-12
Delaware Investments Dividend and Income Fund, Inc.
--------------------------------------------------------------------------------
(Name of Registrant as Specified In Its Charter)
--------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
1. Title of each class of securities to which transaction applies:
2. Aggregate number of securities to which transaction applies:
3. Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined):
4. Proposed maximum aggregate value of transaction:
5. Total fee paid:
[ ] Fee paid previously with preliminary proxy materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
1) Amount Previously Paid:
------------------------------------------------------------------------
2) Form, Schedule or Registration Statement No.:
------------------------------------------------------------------------
3) Filing Party:
------------------------------------------------------------------------
4) Date Filed:
------------------------------------------------------------------------
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
[X] Filed by the Registrant
[ ] Filed by a Party other than the Registrant
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Sec. 240.14a-12
Delaware Investments Global Dividend and Income Fund, Inc.
--------------------------------------------------------------------------------
(Name of Registrant as Specified In Its Charter)
--------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
1. Title of each class of securities to which transaction applies:
2. Aggregate number of securities to which transaction applies:
3. Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined):
4. Proposed maximum aggregate value of transaction:
5. Total fee paid:
[ ] Fee paid previously with preliminary proxy materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
1) Amount Previously Paid:
------------------------------------------------------------------------
2) Form, Schedule or Registration Statement No.:
------------------------------------------------------------------------
3) Filing Party:
------------------------------------------------------------------------
4) Date Filed:
------------------------------------------------------------------------
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
[X] Filed by the Registrant
[ ] Filed by a Party other than the Registrant
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Sec. 240.14a-12
Delaware Investments Florida Insured
Municipal Income Fund
--------------------------------------------------------------------------------
(Name of Registrant as Specified In Its Charter)
--------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
1. Title of each class of securities to which transaction applies:
2. Aggregate number of securities to which transaction applies:
3. Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined):
4. Proposed maximum aggregate value of transaction:
5. Total fee paid:
[ ] Fee paid previously with preliminary proxy materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
1) Amount Previously Paid:
------------------------------------------------------------------------
2) Form, Schedule or Registration Statement No.:
------------------------------------------------------------------------
3) Filing Party:
------------------------------------------------------------------------
4) Date Filed:
------------------------------------------------------------------------
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
[X] Filed by the Registrant
[ ] Filed by a Party other than the Registrant
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Sec. 240.14a-12
Delaware Investments Minnesota Municipal
Income Fund II, Inc.
--------------------------------------------------------------------------------
(Name of Registrant as Specified In Its Charter)
--------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
1. Title of each class of securities to which transaction applies:
2. Aggregate number of securities to which transaction applies:
3. Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined):
4. Proposed maximum aggregate value of transaction:
5. Total fee paid:
[ ] Fee paid previously with preliminary proxy materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
1) Amount Previously Paid:
------------------------------------------------------------------------
2) Form, Schedule or Registration Statement No.:
------------------------------------------------------------------------
3) Filing Party:
------------------------------------------------------------------------
4) Date Filed:
------------------------------------------------------------------------
DELAWARE
INVESTMENTS(R)
A MEMBER OF LINCOLN FINANCIAL GROUP
COMBINED PROXY STATEMENT AND
NOTICE OF JOINT ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON AUGUST 16, 2006
TO THE SHAREHOLDERS OF:
DELAWARE INVESTMENTS DIVIDEND AND INCOME FUND, INC.
DELAWARE INVESTMENTS GLOBAL DIVIDEND AND INCOME FUND, INC.
DELAWARE INVESTMENTS ARIZONA MUNICIPAL INCOME FUND, INC.
DELAWARE INVESTMENTS COLORADO INSURED MUNICIPAL INCOME FUND, INC.
DELAWARE INVESTMENTS FLORIDA INSURED MUNICIPAL INCOME FUND
DELAWARE INVESTMENTS MINNESOTA MUNICIPAL INCOME FUND II, INC.
This is your official notice that the Joint Annual Meeting of Shareholders
of each Delaware Investments closed-end registered investment company listed
above (each individually, a "Fund" and, collectively, the "Funds") will be held
at Two Commerce Square, 2001 Market Street, 2nd Floor, Philadelphia,
Pennsylvania 19103 on Wednesday, August 16, 2006 at 4:00 p.m. The purpose of the
meeting is:
1. To elect a Board of Directors (or Trustees) for each Fund;
2. To transact any other business that properly comes before the Meeting
and any adjournments of the Meeting.
Please vote and send in your Proxy Card(s) promptly to avoid the need for
further mailings. Your vote is important.
/s/ Jude T. Driscoll
------------------------
Jude T. Driscoll
Chairman
July 10, 2006
DELAWARE 2005 Market Street
INVESTMENTS(R) Philadelphia, PA 19103
A MEMBER OF LINCOLN FINANCIAL GROUP 1-800-523-1918
COMBINED PROXY STATEMENT
JOINT ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON WEDNESDAY, AUGUST 16, 2006
MEETING INFORMATION. The Board of Directors or Trustees (each Board is
hereafter referred to as a "Board of Directors" and Board members are referred
to as "Directors") of each Fund listed on the accompanying Notice is soliciting
your proxy to be voted at the joint Annual Meeting of Shareholders to be held on
Wednesday August 16, 2006 at 4:00 p.m. at Two Commerce Square, 2001 Market
Street, 2nd Floor, Philadelphia, Pennsylvania 19103 and/or at any adjournments
of the meeting (hereafter, the "Meeting").
PURPOSE OF MEETING. The purpose of the Meeting is to consider the proposal
listed in the accompanying Notice (the "Proposal"). THE BOARD OF DIRECTORS OF
EACH FUND URGES YOU TO COMPLETE, SIGN AND RETURN THE PROXY CARD (OR CARDS)
INCLUDED WITH THIS COMBINED PROXY STATEMENT, WHETHER OR NOT YOU INTEND TO BE
PRESENT AT THE MEETING. IT IS IMPORTANT THAT YOU PROVIDE VOTING INSTRUCTIONS
PROMPTLY TO HELP ASSURE A QUORUM FOR THE MEETING.
GENERAL VOTING INFORMATION. You may provide proxy instructions by returning
the Proxy Card(s) by mail in the enclosed envelope. The persons designated on
the Proxy Card(s) as proxies will vote your shares as you instruct on each Proxy
Card. If you return a signed Proxy Card without any voting instructions, your
shares will be voted "FOR" the Proposal listed on the Notice in accordance with
the recommendation of the Board of Directors. The persons designated on the
Proxy Card as proxies will also be authorized to vote (or to withhold their
vote) in their discretion on any other matters which properly come before the
Meeting. They may also vote in their discretion to adjourn the Meeting. If you
sign and return a Proxy Card, you may still attend the Meeting to vote your
shares in person. If your shares are held of record by a broker and you wish to
vote in person at the Meeting, you should obtain a legal proxy from your broker
of record and present it at the Meeting. You may also revoke your proxy at any
time before the Meeting: (i) by notifying Delaware Investments in writing at
2005 Market Street, Philadelphia, PA 19103; (ii) by submitting a later signed
Proxy Card; or (iii) by voting your shares in person at the Meeting. If your
shares are held in the name of your broker, you will have to make arrangements
with your broker to revoke any previously executed proxy.
Each shareholder may cast one vote for each full share and a partial vote
for each partial share of a Fund that they owned of record on June 21, 2006.
Exhibit A shows the number of shares of each Fund that were outstanding on the
record date and Exhibit B lists the shareholders who owned 5% or more of each
Fund on that date. It is expected that this Combined Proxy Statement and the
accompanying Proxy Card(s) will be mailed to shareholders of record on or about
July 12, 2006.
This proxy solicitation is being made largely by mail, but may also be made
by officers or employees of the Funds or their investment manager or affiliates,
through telephone, facsimile, or other communications. The Funds may also employ
a professional proxy solicitation firm, although they do not presently intend to
do so. The cost of the solicitation is being borne by the Funds. The Funds may
reimburse banks, brokers or dealers for their reasonable expenses in forwarding
soliciting materials to beneficial owners of the Funds' shares.
REQUIRED VOTES. All shareholders of a Fund vote together to elect
Directors, regardless of whether the Fund has both common and preferred
shareholders, with one exception. The holders of preferred shares of each of the
Funds that have issued one or more classes of preferred shares ("Preferred Share
Funds") have the exclusive right to separately elect two Directors, in addition
to the right to vote for the remaining Directors together with the holders of
the common shares. Each of the Funds, except Delaware Investments Dividend and
Income Fund, Inc. ("DDF") and Delaware Investments Global Dividend and income
Fund, Inc. ("DGF") have issued preferred shares.
The amount of votes of each Fund that are needed to approve the Proposal
vary. The voting requirements with respect to the Proposal are described within
the Proposal. Abstentions will be included for purposes of determining whether a
quorum is present for each Fund at the Meeting. They will be treated as votes
present at the Meeting, but will not be treated as votes cast. They therefore
would have no effect on the Proposal which requires a plurality of
2
votes cast for approval, but would have the same effect as a vote "AGAINST" a
proposal requiring a majority of votes present. Because the Proposal presented
is considered to be a "routine" voting item, the Funds do not expect to
recognize broker non-votes.
The presence in person or by proxy of holders of a majority of outstanding
shares shall constitute quorum for each Fund. In addition, the presence in
person or by proxy of holders of 33 1/3% of the outstanding preferred shares
shall constitute a quorum of the preferred share class of the Preferred Share
Funds. In the event that a quorum is not present or if sufficient votes are not
received consistent with the Board's recommendation on the adoption of the
Proposal, management may propose an adjournment or adjournments of the Meeting
for a Fund. Any adjournment would require a vote in favor of the adjournment by
the holders of a majority of the shares present at the Meeting in person or by
proxy. The persons named as proxies on the Proxy Card(s) may vote (or withhold
their vote) in their discretion on any proposed adjournment.
PROPOSAL ONE: TO ELECT A BOARD OF DIRECTORS FOR EACH FUND
You are being asked to elect each of the current members of the Board of
Directors for your Fund. The nominees are: Thomas L. Bennett, Jude T. Driscoll,
John A. Fry, Anthony D. Knerr, Lucinda S. Landreth, Ann R. Leven, Thomas F.
Madison, Janet L. Yeomans and J. Richard Zecher.
If elected, these persons will serve as Directors until the next annual
meeting of shareholders called for the purpose of electing Directors, and/or
until their successors have been elected and qualify for office. It is not
expected that any nominee will withdraw or become unavailable for election, but
in such a case, the power given by you in the Proxy Card may be used by the
persons named as proxies to vote for a substitute nominee or nominees as
recommended by the existing Board of Directors.
The Preferred Share Funds each issue shares of common stock and shares of
preferred stock. The governing documents of each Preferred Share Fund provide
that the holders of preferred shares of the Fund are entitled to elect two of
the Fund's Directors, and the remaining Directors are to be elected by the
holders of the preferred shares and common shares voting together. The nominees
for Directors to be voted on separately by the preferred shareholders of the
Preferred Share Funds are Thomas F. Madison and Janet L. Yeomans.
3
INFORMATION ON EACH FUND'S BOARD OF DIRECTORS
NUMBER OF
PORTOFOLIOS
IN FUND
POSITION(S) PRINCIPAL COMPLEX
NAME, ADDRESS AND HELD WITH LENGTH OF OCCUPATION(S) DURING OVERSEEN BY OTHER DIRECTORSHIPS
AGE FUNDS TIME SERVED PAST 5 YEARS DIRECTOR HELD BY DIRECTOR
---------------------- -------------------- ----------- ------------------------------------ ----------- --------------------
INTERESTED DIRECTOR
JUDE T. DRISCOLL(1) Chairman, President, 6 Years - Since August 2000, Mr. Driscoll has 85 None
2005 Market Street Chief Executive Executive served in various executive
Philadelphia, PA 19103 Officer and Director Officer capacities at different times at
Delaware Investments(2)
43 3 Years-
Director
INDEPENDENT DIRECTORS
THOMAS L. BENNETT Director 1 Year Private Investor - (March 2004 - 85 None
2005 Market Street Present) Investment Manager - Morgan
Philadelphia, PA 19103 Stanley & Co. (January 1984 - March
2004)
58
JOHN A. FRY Director 5 Years President - Franklin & Marshall 85 Director - Community
2005 Market Street College (June 2002 - Present) Health Systems
Philadelphia, PA 19103
46 Executive Vice President - Director-Allied
University of Pennsylvania (April Barton Security
1995 - June 2002) Holdings
ANTHONY D. KNERR Director 13 Years Founder/Managing Director - Anthony 85 None
2005 Market Street Knerr & Associates (1990 - Present)
Philadelphia, PA 19103 (Strategic Consulting)
67
LUCINDA S. LANDRETH Director 1 Year Chief Investment Officer -Assurant. 85 None
2005 Market Street Inc. (Insurance) (2002 - 2004)
Philadelphia, PA 19103
Chief Investment Officer - Fortis,
59 Inc. (1997 - 2001)
(1) Mr. Driscoll is considered to be an "interested Director" because he is an
executive officer of the Funds' investment adviser. Mr. Driscoll acquired
shares of common stock of Lincoln National Corporation ("LNC"), of which
the Funds' investment adviser is a wholly-owned subsidiary, in the ordinary
course of business during 2004, but those transactions involved less than
1% of the outstanding shares of common stock of LNC.
(2) Delaware Investments is the marketing name for Delaware Management
Holdings, Inc. and its subsidiaries, including the Funds' investment
adviser and its accounting and administrative services agent.
4
NUMBER OF
PORTOFOLIOS
IN FUND
POSITION(S) PRINCIPAL COMPLEX
NAME, ADDRESS AND HELD WITH LENGTH OF OCCUPATION(S) DURING OVERSEEN BY OTHER DIRECTORSHIPS
AGE FUNDS TIME SERVED PAST 5 YEARS DIRECTOR HELD BY DIRECTOR
---------------------- -------------------- ----------- ---------------------------------- ----------- ----------------------
INDEPENDENT DIRECTORS
(CONTINUED)
ANN R. LEVEN Director 17 Years ARL Associates (Financial and 85 Director and Audit
2005 Market Street Strategic Consulting Firm) Committee Member
Philadelphia, PA 19103 (1983-Present) Systemax Inc.
65
Director and Audit
Committee Chairperson
- Andy Warhol
Foundation
THOMAS F. MADISON Director 12 Years President/Chief Executive Officer 85 Director - Banner
2005 Market Street - MLM Partners, Inc. (Small Health
Philadelphia, PA 19103 Business Investing and Consulting)
(January 1993 - Present)
70 Director and Audit
Committee Member -
Digital River Inc.
Director and Audit
Committee Member -
Rimage Corporation
Director - CenterPoint
Energy
Director - Valmont
Industries, Inc.
JANET L. YEOMANS Director 7 Years Vice President (since January 85 None
2005 Market Street 2003) and Treasurer (since
Philadelphia, PA 19103 January 2006 )-3M Corporation
57
Ms. Yeomans has held various
management positions at 3M
Corporation since 1983.
J. RICHARD ZECHER Director 1 Year Founder - Investor Analytics 85 Director and Audit
2005 Market Street (Risk Management) (May 1999 - Committee Member -
Philadelphia, PA 19103 Present) Investor Analytics
65
Founder/Principal - Sutton Asset Director and Audit
Management (Hedge Fund) Committee Member -
(September 1998 to Present) Oxigene, Inc.
5
The following table shows each Director's ownership of shares of the Fund and of
all other Funds in the Delaware Investments Family of Funds (the "Fund Complex")
as of May 31, 2006.
AGGREGATE DOLLAR RANGE OF EQUITY SECURITIES IN
COMMON STOCK OF FUNDS ALL REGISTERED INVESTMENT COMPANIES
NAME OF DIRECTOR BENEFICIALLY OWNED OVERSEEN BY DIRECTOR IN FUND COMPLEX
--------------------- --------------------- ----------------------------------------------
INTERESTED DIRECTOR
Jude T. Driscoll none over $100,000
INDEPENDENT DIRECTORS
Thomas L. Bennett none none
John A. Fry none over $100,000*
Anthony D. Knerr none $10,001 - $50,000
Lucinda S. Landreth none $10,001 - $50,000
Ann R. Leven none over $100,000
Thomas F. Madison none $10,001 - $50,000
Janet L. Yeomans none $50,001 - $100,000
J. Richard Zecher 1,000** $10,001 - $50,000
* As of May 31, 2006, Mr. Fry held assets in a 529 Plan Account. Under the
terms of the Plan, a portion of the assets held in the Plan may be invested
in the Funds. Mr. Fry held no Shares of the Funds outside of the Plan as of
May 31, 2006.
** As of May 31, 2006, Mr. Zecher held 1,000 shares of the Arizona Munciipal
Income Fund.
BOARD, SHAREHOLDER AND COMMITTEE MEETINGS. During the last full fiscal
year, each Fund held five Board meetings, four of which were two day meetings
and a one day meeting. All of the Directors attended at least 75% of those
meetings. Directors are encouraged to attend each annual meeting of shareholders
either in person or by telephone, if possible. All Directors were present at the
Funds' annual meeting held on August 17, 2005.
Each Fund has an Audit Committee for the purpose of meeting, on a regular
basis, with the Fund's officers and independent auditors to oversee the quality
of financial reporting and the internal controls of each Fund, and for such
other purposes as the Board of Directors may from time to time direct. The Audit
Committee of each Fund consists of the following four Directors appointed by the
Board: Thomas F. Madison, Chairperson; Thomas L. Bennett; Janet L. Yeomans; and
J. Richard Zecher. Each Audit Committee member is not an "interested person" of
the Funds under the Investment Company Act of 1940, as amended (the "1940 Act"),
and each meets the standard of independence for Audit Committee members set
forth in the listing standards of the New York Stock Exchange (the "NYSE") and
the American Stock Exchange (the "AMEX"). Members of the Audit Committee serve
for two year terms or until their successors have been appointed and qualified.
The Audit Committee held five meetings for DDF and DGF for the fiscal year ended
November 30, 2005 and four meetings for the Preferred Share Funds for the fiscal
year ended March 31, 2006. The Board of Directors of each Fund has adopted a
written charter for each Fund's Audit Committee, attached as Exhibit C.
Each Fund's Nominating and Corporate Governance Committee (the "Nominating
Committee") is comprised of the following four Directors appointed by the Board:
John A. Fry, Chairperson; Anthony D. Knerr; Lucinda S. Landreth, and Ann R.
Leven (ex-officio), all of whom meet the independence requirements set forth in
the listing standards of the NYSE and AMEX and are not "interested persons"
under the 1940 Act. The Nominating Committee recommends nominees for independent
Directors for consideration by the incumbent independent Directors of each Fund,
and the Nominating Committee recommends nominees for interested Directors for
consideration by the full Board of each Fund. The Nominating Committee held five
meetings during the fiscal year ended November 30, 2005 for DDF and DGF and five
meetings for the Preferred Share Funds for the fiscal year ended March 31, 2006.
The Fund's Board of Directors has adopted a formal charter for the
Nominating Committee setting forth its responsibilities. A copy of the
Nominating Committee's charter is included as Exhibit D to this Combined Proxy
Statement. A current copy of the Nominating Committee's charter is also
available on the Fund's website at www.delawareinvestments.com.
6
The Nominating Committee will consider shareholder recommendations for
nominations to the Board of Directors only in the event that there is a vacancy
on the Board of Directors. Shareholders who wish to submit recommendations for
nominations to the Board to fill a vacancy must submit their recommendations in
writing to John A. Fry, Chairman of the Nominating Committee, c/o the Funds at
2005 Market Street, Philadelphia, Pennsylvania 19103. Shareholders should
include appropriate information on the background and qualifications of any
person recommended to the Nominating Committee (e.g., a resume), as well as the
candidate's contact information and a written consent from the candidate to
serve if nominated and elected. Shareholder recommendations for nominations to
the Board will he accepted on an ongoing basis and such recommendations will be
kept on file for consideration when there is a vacancy on the Board of
Directors.
The Nominating Committee generally identifies candidates for Board
membership through personal and business contacts of Directors and shareholders.
In addition, the Nominating Committee may use a search firm to identify
candidates for the Board of Directors, if deemed necessary and appropriate to
use such a firm. The Nominating Committee's process for evaluating a candidate
generally includes a review of the candidate's background and experience, a
check of the candidate's references and other due diligence and, when
appropriate, interviews with Nominating Committee members. In evaluating a
candidate, the Nominating Committee will also consider whether the candidate, if
elected, would be an independent director for purposes of the 1940 Act and the
listing standards of the NYSE and AMEX.
The Nominating Committee has not established any specific minimum
requirements that candidates must meet in order to be recommended by the
Nominating Committee for nomination for election to the Board. Rather, the
Nominating Committee seeks candidates who, in its judgment, will serve the best
interests of the Funds' long-term shareholders and whose background will
complement the experience, skills and diversity of the other Directors and add
to the overall effectiveness of the Board.
BOARD COMPENSATION. Each independent Director receives compensation from
each Fund of which he/she is a member of the Board of Directors. The interested
Directors are compensated by the investment adviser and do not receive
compensation from the Funds. Each independent Director currently receives a
total annual retainer fee of $80,000 for serving as a Director of all 30
investment companies within the Fund Complex, plus $5,000 per day for each day
the Board meets (normally four regular meetings, all of which are two day
meetings). Ann R. Leven is the current Coordinating Director for the Funds and
receives an additional annual retainer totaling $35,000 with respect to all 30
investment companies within the Fund Complex. Members of the Audit Committee
receive additional compensation of $2,500 for each Audit Committee meeting. The
chairperson of the Audit Committee receives an additional annual retainer of
$15,000. Independent Directors who are members of the Nominating Committee
receive $1,700 for each committee meeting. In addition, the chairperson of the
Nominating Committee receives an annual retainer of $15,000.
Under the terms of each Fund's retirement plan for Directors, each
independent Director who, at the time of his or her retirement from the Board of
Directors, has attained the age of 70 and has served on the Board of Directors
for at least five continuous years, is entitled to receive payments from the
Fund Complex for a period of time equal to the lesser of the number of years
that the person served as a Director or the remainder of the person's life. The
annual amount of such payments will be equal to the amount of the annual
retainer that is paid to Directors of the investment companies in the Fund
Complex at the time of the person's retirement. If an eligible Director of each
investment company within the Fund Complex had retired as of May 31, 2006, he or
she would have been entitled to annual payments in the amount of $80,000. The
following table identifies the amount each Director received from each Fund
during its last fiscal year and from the Fund Complex as a whole during the
twelve months ended May 31, 2006.
7
INTERESTED
DIRECTOR INDEPENDENT DIRECTORS
---------- ---------------------------------------------------------------------------------------------
JUDE T. THOMAS L. JOHN A. ANTHONY D. LUCINDA S. ANN R. THOMAS F. JANET L. J. RICHARD
FUND NAME DRISCOLL BENNETT FRY KNERR LANDRETH LEVEN MADISON YEOMANS ZECHER
---------------------------------------------------------------------------------------------------------------------------------
Delaware
Investments
Dividend and
Income Fund, Inc. None $ 882 $ 908 $ 861 $ 861 $ 1037 $ 971 $ 882 $ 867
Delaware
Investments
Global Dividend
and Income Fund,
Inc. None $ 416 $ 430 $ 409 $ 409 $ 491 $ 459 $ 416 $ 410
Delaware
Investments
Arizona
Municipal Income
Fund, Inc. None $ 261 $ 270 $ 255 $ 255 $ 308 $ 287 $ 261 $ 256
Delaware
Investments
Colorado Insured
Municipal Income
Fund, Inc. None $ 439 $ 454 $ 430 $ 430 $ 518 $ 484 $ 439 $ 431
Delaware
Investments
Florida Insured
Municipal Income
Fund None $ 212 $ 220 $ 208 $ 208 $ 251 $ 234 $ 212 $ 209
Delaware
Investments
Minnesota
Municipal Income
Fund II, Inc. None $ 724 $ 740 $ 697 $ 697 $ 845 $ $797 $ 724 $ 713
TOTAL COMPENSATION
FROM FUND
COMPLEX (85
FUNDS) FOR THE 12
MONTHS ENDED
MAY 31, 2006 None $140,833 $144,683 $136,933 $136,933 $165,167 $155,000 $140,833 $138,333
OFFICERS. Each Board of Directors and the senior management of the Funds
appoint officers each year, and from time to time as necessary. The following
individuals are executive officers of one or more of the Funds: Jude T.
Driscoll, Michael P. Bishof, and John J. O'Connor. Exhibit E includes
biographical information and the past business experience of such officers,
except for Mr. Driscoll, whose information is set forth herein along with the
other Directors. The Exhibit also identifies which of these executive officers
are also officers of Delaware Management Company ("DMC"), the investment adviser
of each Fund. The above officers of the Funds own shares of common stock and/or
options to purchase shares of common stock of LNC, the ultimate parent of DMC.
They are considered to be "interested persons" of the Funds under the 1940 Act.
SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE. Section 16 of the
Securities Exchange Act of 1934, as amended, (the "1934 Act") requires that
Forms 3, 4, and 5 be filed with the SEC, the relevant securities exchange and
the relevant Fund, by or on behalf of certain persons, including directors,
certain officers, and certain affiliated persons of the investment adviser. The
Funds believe that these requirements were met for fiscal year 2006, except that
management failed to timely file Form 4 on behalf of J. Richard Zecher.
REQUIRED VOTE. Provided that a quorum is present at the Meeting, either in
person or by proxy, the following votes are required to elect each Fund's Board
of Directors. The holders of the preferred shares of the Preferred Share Funds
have the exclusive right to vote to elect Mr. Madison and Ms. Yeomans to the
Board of Directors of the Preferred Share Funds.
8
-------------------------------------------------------------------------------------------------
PROPOSAL 1
ELECTION OF DIRECTORS
-------------------------------------------------------------------------------------------------
FUND Driscoll, Bennett, Fry, Knerr, Madison and Yeomans
Landreth, Leven and Zecher
-------------------------------------------------------------------------------------------------
Delaware Investments Dividend and
Income Fund, Inc.; Delaware
Investments Global Dividend and Plurality of votes cast.
Income Fund, Inc.
-------------------------------------------------------------------------------------------------
Preferred Share Funds Plurality of votes cast of Plurality of votes cast of
common and preferred shares. preferred shares.
-------------------------------------------------------------------------------------------------
THE BOARD OF DIRECTORS UNANIMOUSLY
RECOMMENDS THAT YOU VOTE "FOR"
PROPOSAL ONE
9
INDEPENDENT ACCOUNTANTS AND AUDIT COMMITTEE REPORT
The firm of Ernst & Young LLP has been selected as the independent
registered public accounting firm ("independent auditors") for the Funds. In
accordance with Independence Standards Board Standard No. 1 ("ISB No. 1"), Ernst
& Young LLP has confirmed to each Fund's Audit Committee regarding the
independence of Ernst & Young LLP. The Audit Committee must approve all audit
and non-audit services provided by Ernst & Young LLP relating to the operations
or financial reporting of one or more of the Funds. The Audit Committee reviews
any audit or non-audit services to determine whether they are appropriate and
permissible under applicable law.
Each Fund's Audit Committee has adopted policies and procedures to provide
a framework for the Audit Committee's consideration of non-audit services by
Ernst & Young LLP. These policies and procedures require that any non-audit
service to be provided by Ernst & Young LLP to a Fund, DMC or any entity
controlling, controlled by or under common control with DMC that relate directly
to the operations or financial reporting of a Fund are subject to pre-approval
by the Audit Committee or the Chairperson of the Audit Committee before such
service is provided. The Audit Committee has pre-approved certain services with
respect to the funds up to certain specified fee limits.
As required by its charter, each Fund's Audit Committee has reviewed and
discussed with Fund management and representatives from Ernst & Young LLP the
audited financial statements for each Fund's last fiscal year. The Audit
Committee has discussed with the independent auditors their judgments as to the
quality, not just the acceptability, of the Funds' accounting principles and
such other matters required to be discussed with the Audit Committee by
Statement of Auditing Standards No. 61, as amended by Statement on Auditing
Standards No. 90 (Communication With Audit Committees). The Audit Committee also
received the written disclosures and the letter from its independent auditors
required by ISB No. 1, and discussed with a representative of Ernst & Young LLP
the independent auditor's independence. Each Fund's Board of Directors
considered fees received by Ernst & Young LLP from DMC and its affiliates during
the last fiscal year in connection with its consideration of the auditors'
independence. Based on the foregoing discussions with management and the
independent auditors, each Fund's Audit Committee unanimously recommended to the
Fund's Board of Directors that the aforementioned audited financial statements
be included in each Fund's annual report to shareholders for the last fiscal
year.
As noted above, the members of each Fund's Audit Committee are: Thomas L.
Bennett, Thomas L. Madison, Janet L. Yeomans and J. Richard Zecher. All members
of each Fund's Audit Committee meet the standard of independence set forth in
the listing standards of the NYSE and AMEX, as applicable, and are not
considered to be "interested persons" under the 1940 Act. The Fund's Board of
Directors has adopted a formal charter for the Audit Committee setting forth its
responsibilities. A copy of the Audit Committee's charter is included in Exhibit
C to this Combined Proxy Statement.
AUDIT FEES. The aggregate fees paid to Ernst & Young LLP in connection with
the annual audit of each Fund's financial statements and for services normally
provided by the independent auditors in connection with statutory and regulatory
filings or engagements for the fiscal year ended November 30, 2005 for DDF and
DGF and ended March 31, 2006 for the Preferred Share Funds, and for the fiscal
year ended November 30, 2004 for DDF and DGF and ended March 31, 2005 for the
Preferred Share Funds are set forth below:
AUDIT FEES AUDIT FEES
FOR FYE 11/30/05 FOR FYE 11/30/04
FUND AND 3/31/06 AND 3/31/05
----------------------------------------------------------------- ---------------- ----------------
Delaware Investments Dividend and Income Fund, Inc. $14,800 $29,250
Delaware Investments Global Dividend and Income Fund, Inc. $11,600 $29,250
Delaware Investments Arizona Municipal Income Fund, Inc. $10,300 $18,950
Delaware Investments Colorado Insured Municipal Income Fund, Inc. $11,500 $18,950
Delaware Investments Florida Insured Municipal Income Fund $10,000 $18,950
Delaware Investments Minnesota Municipal Income Fund II, Inc. $24,800 $18,950
AUDIT-RELATED FEES. The aggregate fees billed by the Funds' independent
auditors for services relating to the performance of the audit of each Fund's
financial statements and not reported above under "Audit Fees" are described
below for the fiscal year ended November 30, 2005 for DDF and DGF and ended
March 31, 2006 for the
10
Preferred Share Funds and for the fiscal year ended November 30, 2004 for DDF
and DGF and ended March 31, 2005 for the Preferred Shares Funds. The percentage
of these fees relating to services approved by the Audit Committee pursuant to
the de minimis exception from the pre-approval requirement in Rule
2-01(c)(7)(i)(C) of Regulation S-X was 0%. These audit-related services were as
follows: agreed upon procedures relating to the commercial paper program rating
agency reports for DDF and agreed-upon procedures relating to the preferred
share rating agency reports for the Preferred Share Funds.
AUDIT-RELATED AUDIT-RELATED
FEES FEES
FOR FYE 11/30/05 FOR FYE 11/30/04
FUND AND 3/31/06 AND 3/31/05
----------------------------------------------------------------- ---------------- ----------------
Delaware Investments Dividend and Income Fund, Inc. $5,905 $8,320
Delaware Investments Global Dividend and Income Fund, Inc. $ 0 $ 0
Delaware Investments Arizona Municipal Income Fund, Inc. $6,700 $6,695
Delaware Investments Colorado Insured Municipal Income Fund, Inc. $6,700 $6,695
Delaware Investments Florida Insured Municipal Income Fund $6,700 $6,695
Delaware Investments Minnesota Municipal Income Fund II, Inc. $6,700 $6,700
The aggregate fees billed by the Funds' independent auditors for services
relating to the performance of the audit of the financial statements of each
Fund's investment adviser(s) and other service providers under common control
with the adviser(s) and that relate directly to the operations or financial
reporting of a Fund for the fiscal year ended November 30, 2005 for DDF and DGF
and ended March 31, 2006 for the Preferred Share Funds were $15,000, and for the
fiscal year ended November 30, 2004 for DDF and DGF and ended March 31, 2005 for
the Preferred Share Funds were $21,350. The percentage of these fees relating to
services approved by the Audit Committee pursuant to the de minimis exception
from the pre-approval requirement in Rule 2-01(c)(7)(i)(C) of Regulation S-X was
0%. These audit-related services were as follows: issuance of agreed-upon
procedures reports to the Board of Directors in connection with the annual
accounting service agent contract renewal and the pass-through of internal legal
costs relating to the operations of the Fund.
TAX FEES. The aggregate fees billed by the Funds' independent auditors for
tax-related services provided to each Fund are described below for the fiscal
year ended November 30, 2005 for DDF and DGF and ended March 31, 2006 for the
Preferred Share Funds, and for the fiscal year ended November 30, 2004 for DDF
and DGF and ended March 31, 2005 for the Preferred Share Funds. The percentage
of these fees relating to services approved by the Audit Committee pursuant to
the de minimis exception from the pre-approval requirement in Rule
2-01(c)(7)(i)(C) of Regulation S-X was 0%. These tax-related services were as
follows: review of income tax returns and review of annual excise distribution
calculations.
TAX FEES
FOR FYE TAX FEES
11/30/05 FOR FYE 11/30/04
FUND AND 3/31/06 AND 3/31/05
----------------------------------------------------------------- ----------- ----------------
Delaware Investments Dividend and Income Fund, Inc. $2,800 $1,750
Delaware Investments Global Dividend and Income Fund, Inc. $2,100 $1,750
Delaware Investments Arizona Municipal Income Fund, Inc. $1,900 $1,750
Delaware Investments Colorado Insured Municipal Income Fund, Inc. $2,100 $1,750
Delaware Investments Florida Insured Municipal Income Fund $1,800 $1,750
Delaware Investments Minnesota Municipal Income Fund II, Inc. $ 900 $1,750
The aggregate fees billed by the Funds' independent auditors for
tax-related services provided to the Funds' investment adviser(s) and other
service providers under common control with the adviser(s) and that relate
directly to the operations or financial reporting of the Fund were $0 for each
Fund's prior two fiscal years ended.
ALL OTHER FEES. The aggregate fees billed for all services provided by the
independent auditors to the Funds other than those set forth above were $0 for
the prior two fiscal years ended.
11
The aggregate fees billed for all services other than those set forth above
provided by the Funds' independent auditors to the Funds' investment adviser(s)
and other service providers under common control with the investment adviser(s)
and that relate directly to the operations or financial reporting of the Funds
were $0 for the Funds' prior two fiscal years ended.
AGGREGATE NON-AUDIT FEES TO THE FUNDS, THE INVESTMENT ADVISER(S) AND
SERVICE PROVIDER AFFILIATES. The aggregate non-audit fees billed by the
independent auditors for services rendered to the Preferred Shares Funds and to
its investment adviser and other service providers under common control with the
investment adviser were $224,060 and $260,419 for the Funds' fiscal years ended
March 31, 2006 and March 31, 2005, respectively. The aggregate non-audit fees
billed by the independent auditors for services rendered to DDF and to its
investment adviser and other service providers under common control with the
investment adviser were $213,940 and $235,079 for the Fund's fiscal years ended
November 30, 2005 and November 30, 2004, respectively. The aggregate non-audit
fees billed by the independent auditors for services rendered to DGF and to its
investment advisers and other service providers under common control with the
investment advisers were $207,335 and $350,584 for the Fund's fiscal years ended
November 30, 2005 and November 30, 2004, respectively. In connection with its
selection of the independent auditors, the Audit Committee has considered the
independent auditors' provision of non-audit services to the investment
adviser(s) and other service providers under common control with the investment
adviser(s) that were not required to be pre-approved pursuant to Rule
2-01(c)(7)(ii) of Regulation. S-X. The Audit Committee has determined that the
independent auditors' provision of these services is compatible with maintaining
the auditors' independence.
COMMUNICATIONS TO THE BOARD OF DIRECTORS
Shareholders who wish to communicate to the full Board of Directors may
address correspondence to Ann R. Leven, Coordinating Director for the Funds, c/o
a Fund at 2005 Market Street, Philadelphia, Pennsylvania, 19103. Shareholders
may also send correspondence to the Coordinating Director or any individual
Director c/o a Fund at 2005 Market Street, Philadelphia, Pennsylvania 19103.
Without opening any such correspondence, Fund management will promptly forward
all such correspondence to the intended recipient(s).
OTHER INFORMATION
INVESTMENT ADVISER. DMC (a series of Delaware Management Business Trust),
2005 Market Street, Philadelphia, PA 19103, serves as investment adviser to each
Fund.
ADMINISTRATOR. Delaware Service Company, Inc., 2005 Market St.,
Philadelphia, PA 19103, an affiliate of DMC, performs administrative and
accounting services for the Funds.
INDEPENDENT AUDITORS. Ernst & Young LLP serves as the Funds' independent
auditors. Ernst & Young LLP's principal address is Two Commerce Square,
Philadelphia, PA 19103. A representative of Ernst & Young LLP is expected to be
present at the Meeting. The representative of Ernst & Young LLP will have an
opportunity to make a statement if he or she desires to do so and will be
available to respond to appropriate questions.
SHAREHOLDER PROPOSALS. If a Fund holds an annual meeting of shareholders in
2007, shareholder proposals to be included in the Funds' Combined Proxy
Statement for that meeting must be received no later than March 8, 2007. Such
proposals should be sent to the Fund, directed to the attention of its
Secretary, at the address of its principal executive office printed on the first
page of this Combined Proxy Statement. The inclusion and/or presentation of any
such proposal is subject to the applicable requirements of the proxy rules under
the 1934 Act. The persons designated as proxies will vote in their discretion on
any matter if the Funds do not receive notice of such matter prior to May 23,
2007.
FUND REPORTS. Each Fund's most recent Annual Report and Semi-Annual Report
were previously mailed to shareholders. Copies of these reports are available
upon request, without charge, by writing the Funds c/o Delaware Investments,
2005 Market Street, Philadelphia, PA 19103, or by calling toll-free (800)
523-1918.
12
EXHIBIT A
OUTSTANDING SHARES AS OF RECORD DATE (JUNE 21, 2006)
Delaware Investments Dividend and Income Fund, Inc. 11,588,670
Delaware Investments Global Dividend and Income Fund, Inc. 5,463,745.907
Delaware Investments Arizona Municipal Income Fund, Inc. 2,982,700
Common Stock 2,982,200
Preferred Stock 500
Delaware Investments Colorado Insured Municipal Income Fund, Inc. 4,837,900
Common Stock 4,837,100
Preferred Stock 800
Delaware Investments Florida Insured Municipal Income Fund 2,422,600
Common Shares 2,422,200
Preferred Shares 400
Delaware Investments Minnesota Municipal Income Fund II, Inc. 11,506,875.090
Common Stock 11,504,975.090
Preferred Stock 1900
13
EXHIBIT B
SHAREHOLDERS OWNING 5% OR MORE OF A FUND
The following accounts held of record 5% or more of the outstanding shares
of the Funds listed below as of June 21, 2006, Management does not have
knowledge of beneficial owners.
PERCENT OF
FUND NAME AND ADDRESS NUMBER OF SHARES OUTSTANDING SHARES
------------------------------------- ---------------------- ---------------- ------------------
Delaware Investments Dividend and Cede & Co 11,440,621 98.7%
Income Fund, Inc. P.O. Box 20
Bowling Green Station
New York, NY 10004
Delaware Investments Global Dividend Cede & Co. 5,340,872 97.8%
and Income Fund, Inc. P.O. Box 20
Bowling Green Station
New York, NY 1000
Delaware Investments Arizona Cede & Co. 2,928,002 98.2%
Municipal Income Fund, Inc. P.O. Box 20
Common Stock Bowling Green Station
New York, NY 1000
Delaware Investments Arizona CitiGroup Global 197 78.8%
Municipal Income Fund, Inc. Markets Inc.
Preferred Stock Pat Haller
Series A 333 West 34th Street
New York, NY 10001
Morgan Stanley DW Inc. 20 8.00%
c/o ADP Proxy Services
51 Mercedes Way
Edgewood, NY 11717
UBS Financial Services 20 8.00%
Inc.
Jane Flood
1200 Harbor Blvd.
Weehawken, NJ 07086
Delaware Investments Arizona CitiGroup Global 156 62.4%
Municipal Income Fund, Inc. Markets Inc.
Preferred Stock Pat Haller
Series B 333 West 34th Street
New York, NY 10001
Pershing LLC 94 37.6%
Al Hernandez
Securities Corporation
1 Pershing Plaza
Jersey City, NJ 07399
14
PERCENT OF
FUND NAME AND ADDRESS NUMBER OF SHARES OUTSTANDING SHARES
------------------------------------- ------------------------- ---------------- ------------------
Delaware Investments Colorado Cede & Co 4,635,399 95.8%
Insured Municipal Income Fund, Inc. P.O. Box 20
Common Stock Bowling Green Station
New York, NY 10004
Delaware Investments Colorado CitiGroup Global Markets 245 61.3%
Insured Municipal Income Fund, Inc. Inc.
Preferred Stock Pat Haller
Series A 333 West 34th Street
New York, NY 10001
Merrill Lynch, Pierce, 153 38.3%
Fenner &
Smith Safekeeping
Veronica E. O'Neill
4 Corporate Place
Piscataway, NJ 08854
Delaware Investments Colorado Insured Merrill Lynch, Pierce, 297 74.3%
Municipal Income Fund, Inc. Fenner &
Preferred Stock Smith Safekeeping
Series B Veronica E. O'Neill
4 Corporate Place
Piscataway, NJ 08854
CitiGroup Global Markets 107 26.8%
Inc.
Pat Haller
333 West 34th Street
New York, NY 10001
15
PERCENT OF
FUND NAME AND ADDRESS NUMBER OF SHARES OUTSTANDING SHARES
------------------------------------- ------------------------- ---------------- ------------------
Delaware Investments Florida Cede & Co 2,262,980 93.4%
Insured Municipal Income Fund P.O. Box 20
Common Shares Bowling Green Station
New York, NY 10004
Delaware Investments Florida CitiGroup Global Markets 159 79.5%
Insured Municipal Income Fund Inc.
Preferred Shares Pat Haller
Series A 333 West 34th Street
New York, NY 10001
UBS Financial Services 34 17.0%
Inc.
Jane Flood
1200 Harbor Blvd.
Weehawken, NJ 07086
Delaware Investments Florida CitiGroup Global 163 81.5%
Insured Municipal Income Fund Markets Inc.
Preferred Shares Pat Haller
Series B 333 West 34th Street
New York, NY 10001
UBS Financial Services 35 17.5%
Inc.
Jane Flood
1200 Harbor Blvd.
Weekhawken, NJ 07086
Delaware Investments Minnesota Cede & Co. 10,725,713 93.2%
Municipal Income Fund II, Inc. P.O. Box 20
Common Stock Bowling Green Station
New York, NY 10004
16
PERCENT OF
FUND NAME AND ADDRESS NUMBER OF SHARES OUTSTANDING SHARES
------------------------------------- ------------------------- ---------------- ------------------
Delaware Investments Minnesota UBS Financial Services 336 56.0%
Municipal Income Fund II, Inc. Inc.
Preferred Stock Jane Flood
Series A 1200 Harbor Blvd.
Weekhawken, NJ 07086
CitiGroup Global Markets 198 33.0%
Inc.
Pat Haller
333 West 34th Street
New York, NY 10001
Charles Schwab & Co., 66 11.0%
Inc.
Ronnie Fuiava
Attn: Proxy Department
San Francisco, CA 94105
Delaware Investments Minnesota CitiGroup Global Markets 395 65.8%
Municipal Income Fund II, Inc. Inc.
Preferred Stock Pat Haller
Series B 333 West 34th Street
New York, NY 10001
Charles Schwab & Co., 78 13.0%
Inc.
Ronnie Fuiava
Attn: Proxy Department
San Francisco, CA 94105
Merrill Lynch, Pierce, 71 11.8%
Fenner &
Smith Safekeeping
Veronica E. O'Neill
4 Corporate Place
Piscataway, NJ 08854
17
PERCENT OF
FUND NAME AND ADDRESS NUMBER OF SHARES OUTSTANDING SHARES
------------------------------------- ------------------------- ---------------- ------------------
SEI Private Trust Company 44 7.3%
Attn: Steve Natur
1 Freedom Valley Drive
Oaks, PA 19456
Delaware Investments Minnesota CitiGroup Global Markets 223 55.8%
Municipal Income Fund II, Inc. Inc.
Preferred Stock Pat Haller
Series C 333 West 34th Street
New York, NY 10001
Pershing LLC 98 24.5%
Al Hernandez
Securities Corporation
1 Pershing Plaza
Jersey City, NJ 07399
Charles Schwab & Co., 70 17.5%
Inc.
Ronnie Fuiava
Attn: Proxy Department
San Francisco, CA 94105
Delaware Investments Minnesota CitiGroup Global Markets 141 47.0%
Municipal Income Fund II, Inc. Inc.
Preferred Stock Pat Haller
Series D 333 West 34th Street
New York, NY 10001
Charles Schwab & Co., 134 44.7%
Inc.
Ronnie Fuiava
Attn: Proxy Department
San Francisco, CA 94105
United States Trust 21 7.0%
Company
Attn: Eileen French
Proxy Department
499 Washington Blvd.
7th Fl.
Jersey City, NJ 07310
18
EXHIBIT C
DELAWARE INVESTMENTS
FAMILY OF FUNDS
AUDIT COMMITTEE CHARTER
1. COMMITTEE COMPOSITION.
(a) The Audit Committee shall be composed of not less than three
Directors/Trustees (hereinafter, "Directors") selected by the Board,
each of whom shall be independent as defined in Rule 10A-3(b) under
the Securities and Exchange Act of 1934, as amended, and the listing
standards of any national securities exchange on which the Fund is
listed.
(b) Each member of the Audit Committee shall be financially literate, as
such qualification is interpreted by the Fund's Board in its business
judgment, or must become financially literate within a reasonable
period of time after his or her appointment to the Audit Committee. At
least one member of the Audit Committee must be an "audit committee
financial expert" as such term is defined in Securities and Exchange
Commission ("SEC") Regulation S-K, Item 401 and SEC Form N-CSR.
(c) One member of the Audit Committee shall be designated by the Board as
Chairperson. The Chairperson and members of the Audit Committee shall
have two year terms, renewable for a maximum of three terms. Each
member of the Audit Committee shall serve for one year or until his or
her successor has been appointed and qualified. The Chairperson and
members of the Audit Committee shall receive such compensation for
their service on the Audit Committee as the Board may determine from
time to time.
2. ROLE OF THE AUDIT COMMITTEE. The function of the Audit Committee is
oversight in the sense that it is to watch closely, maintain surveillance,
review carefully relevant matters and make appropriate suggestions; it is
management's responsibility to direct, manage and maintain appropriate systems
for accounting and internal control and for the preparation, presentation and
integrity of the financial statements; and it is the independent auditors'
responsibility to plan and carry out a proper audit. The independent auditors
for the Fund shall report directly to, and are ultimately accountable to, the
Audit Committee. The Audit Committee shall select, evaluate, oversee the work of
and, when appropriate, replace the independent auditors.
Although the Audit Committee is expected to take a detached and questioning
approach to the matters that come before it, the review of a Fund's financial
statements by the Audit Committee is not an audit, nor does the Audit
Committee's review substitute for the responsibilities of the Fund's management
for preparing, or of the independent auditors for auditing, the financial
statements. Members of the Audit Committee are not full-time employees of the
Fund and, in serving on this Audit Committee, are not, and do not hold
themselves out to be, acting as accountants or auditors. As such, it is not the
duty or responsibility of the Audit Committee or its members to conduct "field
work" or other types of auditing or accounting reviews or procedures.
In discharging his or her duties, each member of the Audit Committee may
rely on the accuracy of information, opinions, reports, or statements, including
financial statements and other financial data, if prepared or presented by (a)
one or more officers of the Fund whom the Director reasonably believes to be
reliable and competent in the matters presented; (b) legal counsel, public
accountants, or other persons as to matters the Director reasonably believes are
within the person's professional expertise; or (c) a Board committee of which
the Director is not a member.
3. PURPOSES. The purposes of the Audit Committee are to assist the Board in
its oversight of (a) the quality and integrity of the Fund's financial
statements and the independent audit thereof; (b) the independent auditors'
qualifications and independence; (c) the performance of the Fund's independent
auditors; and (d) the Fund's compliance with relevant legal and regulatory
requirements that relate to the Fund's accounting and financial reporting,
internal control over financial reporting and independent audits. The Audit
Committee shall prepare an audit committee report as required by the SEC to be
included in the Fund's proxy statements. The Audit Committee shall discharge its
fiduciary responsibility with respect to evidence of any material violation of
federal or state law or breach of fiduciary duty impacting the Fund that is
brought to the attention of the Audit Committee pursuant to applicable
regulations. The Audit Committee shall monitor the Fund's accounting and
financial reporting policies and practices, its internal controls over financial
reporting and, as appropriate, inquire into the internal controls over financial
reporting of certain service providers. The Audit Committee shall monitor the
Fund's safeguards with
19
respect to both inflow and outflow of funds and the integrity of computer
systems relating to financial reporting. In addition, the Audit Committee shall
act as a liaison between the Fund's independent auditors and the full Board of
Directors.
4. DUTIES AND POWERS. To carry out its purposes, the Audit Committee shall
have the following duties and powers:
(a) To select, retain or terminate the independent auditors and, in
connection therewith, annually to receive, evaluate and discuss with
the independent auditors a formal written report from them setting
forth all audit, review or attest engagements, as well as all
non-audit engagements and other relationships, with the Fund, the
Investment Manager and any entity in the Fund's "investment company
complex," as defined in Reg. S-X Rule 2-O2(c)(14) (such entity to be
referred to as a "Complex Entity"), which shall include specific
representations as to the independent auditors' objectivity and
independence;
(b) To review and approve, in advance: (i) all audit services and all
permissible non-audit services to be performed by the independent
auditors for the Fund, including the related fees and terms of such
engagements; and (ii) all non-audit services to be provided by the
independent auditors to the Fund's Investment Manager and any entity
controlling, controlled by, or under common control with the
Investment Manager that provides ongoing services to the Fund (such an
affiliate to be referred to as a "Control Affiliate") where the nature
of such non-audit services has a direct impact on the operations or
financial reporting of the Fund; to establish pre-approval policies
and procedures for the engagement of independent auditors to provide
audit and permissible non-audit services; and to delegate to one or
more members the authority to grant pre-approvals;
(c) To meet with the independent auditors and management, including
private meetings with each as necessary, (i) to review and discuss the
arrangements for and scope of the annual audit and any special audits;
(ii) to discuss any matters of concern relating to the Fund's
financial statements, including any adjustments to such statements
recommended by the independent auditors, or other results of said
audit(s); (iii) to consider the independent auditors' comments with
respect to the Fund's financial policies, procedures, internal
accounting controls and any audit problems or difficulties, and in
each case management's responses thereto; (iv) to review and discuss
the form of opinion the independent auditors propose to render to the
Board of Directors and shareholders; (v) in the case of an
exchange-listed closed-end Fund only, to discuss the Fund's unaudited
semi-annual financial statements with the independent auditors and
management; and (vi) in the case of an exchange-listed closed-end Fund
only, to review and discuss the Fund's annual audited financial
statements and management's discussion of fund performance with the
independent auditors and management and make a recommendation to the
Board of Directors on including such audited financial statements in
the Fund's annual report to shareholders;
(d) To review and discuss any and all reports from the independent
auditors regarding (i) critical accounting policies and practices used
by the Fund, including any proposed changes in accounting principles
or practices proposed by management or the independent auditors upon
the Fund, (ii) alternative treatments of financial information within
generally accepted accounting principles that have been discussed with
management, (iii) the risks of using any such alternative treatments
or disclosures, (iv) the treatment preferred by the independent
auditors, (v) material written communications between management and
the independent auditors, including any management letter and any
internal control observations and recommendations, and (vi) all
non-audit services provided by the independent auditors to any Complex
Entity that were not subject to the pre-approval requirement set forth
above in Paragraph 4(b) (in connection with the Audit Committee's
consideration of the auditors' independence);
(e) To review and discuss the process of issuing dividend-related and
other press releases including financial information, as well as the
Fund's policies for providing financial information to analysts and
ratings agencies;
(f) To discuss with management the Fund's guidelines and policies with
respect to risk assessment and risk management;
(g) To review any disclosures made by the chief executive and chief
financial officers of the Fund in their certification process for the
Fund's periodic reports filed with the SEC about any significant
20
deficiencies in the design or operation of internal controls, any
material weaknesses in internal controls and any fraud, whether or not
material, involving management or other employees having a significant
role in internal controls;
(h) To establish procedures, take actions and perform all duties necessary
for (i) the receipt, retention and treatment of complaints received by
the Fund regarding accounting, internal accounting controls or
auditing matters, and (ii) the confidential, anonymous submission by
employees of the Fund and its service providers of concerns regarding
questionable accounting or auditing matters;
(i) To obtain and review not less often than annually a report by the
independent auditors describing: (i) the independent auditors'
internal quality-control procedures; (ii) any material issues raised
by the most recent internal quality-control or peer review of the firm
or any inquiry or investigation by governmental or professional
authorities within the preceding five years respecting any audits
carried out by the independent auditors, and any steps taken to deal
with any such issues; and (iii) all relationships between the
independent auditors and the Fund, as well as the Fund's Investment
Manager or any Complex Entity;
(j) To evaluate the independence of the independent auditors, which shall
include at least the following items: (i) receiving an annual
statement from the independent auditors confirming their
independence;(2)(ii) evaluating the lead partner of the independent
auditors; (iii) confirming the appropriate rotation of the lead audit
partner, overseeing the rotation of other audit partners and
considering periodically whether there should be a regular rotation of
the audit firm itself; and (iv) reviewing the hiring by the Fund, its
Investment Manager and any Control Affiliate of employees or former
employees of the independent auditors;
(k) To set policies relating to the hiring by the Fund, its Investment
Manager and any Control Affiliate of employees or former employees of
the independent auditors;
(l) To engage independent legal counsel and such other advisers as the
Audit Committee determines appropriate to carry out its duties,
without the consent of management or the Board of Directors;
(m) To conduct an annual performance evaluation of the Audit Committee;
and
(n) To report its activities to the full Board of Directors on a regular
basis and to make recommendation with respect to the above and other
matters as the Audit Committee may deem necessary or appropriate.
5. MEETINGS. The Audit Committee shall meet on a regular basis and is
empowered to hold special meetings as circumstances require. The Audit Committee
shall regularly meet with the Chief Financial Officer and Treasurer of the Fund.
The Audit Committee shall also meet with internal auditors for the Investment
Manager on a regular basis in order to assist the Board in its oversight of the
Fund's compliance with legal and regulatory requirements.
6. RESOURCES. The Audit Committee shall have the authority and resources,
including sufficient funding by the Fund to pay the fees of the independent
auditors, legal counsel, consultants or experts, appropriate to discharge its
responsibilities, including the authority to retain special counsel and other
experts or consultants at the expense of the Fund.
7. ANNUAL CHARTER REVIEW. The Audit Committee shall review this Charter at
least annually and recommend any changes to the Board of Directors.
----------
21
EXHIBIT D
DELAWARE INVESTMENTS
FAMILY OF FUNDS
NOMINATING AND CORPORATE GOVERNANCE COMMITTEE CHARTER
NOMINATING AND CORPORATE GOVERNANCE COMMITTEE MEMBERSHIP
The Nominating and Corporate Governance Committee (the "Committee") shall
be composed of not less than three members, each of whom shall be independent as
defined in Rule 10A-3(b) under the Securities Exchange Act of 1934 and the
listing standards of any national securities exchange on which any Fund is
listed. One member of the Committee shall be designated by the Board as
Chairperson. The Chairperson and members of the Committee shall have two-year
terms, renewable for a maximum of three (3) terms. The Chairperson and members
of the Committee shall receive such compensation for their service on the
Committee as the Board may determine from time to time.
BOARD NOMINATIONS
1. INDEPENDENT DIRECTORS/TRUSTEES. Independent Directors/Trustees are to be
selected and nominated solely by incumbent independent Directors/Trustees. The
Committee shall make recommendations for nominations for independent
director/trustee membership on the Board of Directors/Trustees to the incumbent
independent Directors/Trustees. The Committee shall evaluate candidates'
qualifications for Board membership and their independence from the Funds'
manager and other affiliates and principal service providers. Persons selected
must be independent in terms of both the letter and spirit of the governing
rules, regulations and listing standards. The Committee shall also consider the
effect of any relationships beyond those delineated in the governing rules,
regulations and listing standards that might impair independence, e.g.,
business, financial or family relationships with managers or service providers.
2. AFFILIATED DIRECTORS/TRUSTEES. The Committee shall evaluate candidates'
qualifications and make recommendations for affiliated director/trustee
membership on the Board of Directors/Trustees to the full Board.
3. SHAREHOLDER RECOMMENDATIONS. The Committee shall establish policies and
procedures with respect to the submission and consideration of shareholder
recommendations regarding candidates for nomination for election to the Board.
4. BOARD COMPOSITION. The Committee shall periodically review the
composition of the Board of Directors/Trustees to determine whether it may be
appropriate to add individuals with different backgrounds or skill sets from
those already on the Board.
CORPORATE GOVERNANCE
1. The Committee shall evaluate annually the ability of each
Director/Trustee to function effectively in the discharge of his/her oversight
and fiduciary responsibilities as a Director/Trustee. The Chairman of the
Committee shall undertake appropriate action as required based on the
Committee's evaluation.
2. The Committee shall, together with the Coordinating Director/Trustee,
monitor the performance of counsel for the independent Directors/Trustees.
3. The Committee shall establish procedures to facilitate shareholder
communications to the Funds' Board of Directors/Trustees.
OTHER POWERS AND RESPONSIBILITIES
1. The Committee shall have the resources and authority appropriate to
discharge its responsibilities, including authority to retain special counsel
and other experts or consultants at the expense of the appropriate Fund(s).
2. The Committee shall review this Charter at least annually and recommend
any changes to the full Board of Directors/Trustees.
22
EXHIBIT E
EXECUTIVE OFFICERS OF THE FUNDS
MICHAEL P. BISHOF (AGE 43) Senior Vice President and Chief Financial
Officer of the Funds and of the other 24 investment companies within Delaware
Investments; Senior Vice President/Investment Accounting of Delaware Management
Company and Delaware Capital Management (each a series of Delaware Management
Business Trust), Delaware Service Company, Inc. and Delaware Distributors, L.P.;
Senior Vice President/Treasurer/Investment Accounting of Delaware Investment
Advisers (a series of Delaware Management Business Trust); and Chief Financial
Officer/Treasurer of Lincoln National Income Fund, Inc. During the past five
years, Mr. Bishof has served in various executive capacities at different times
within Delaware Investments. Mr. Bishof also serves as Senior Vice
President/Treasurer for the six portfolios of the Optimum Fund Trust, which has
the same investment adviser as the Funds.
JOHN J. O'CONNOR (49) Senior Vice President and Treasurer of the Funds and
of the other 24 investment companies within Delaware Investments; Senior Vice
President /Investment Accounting of Delaware Management Company (a series of
Delaware Management Business Trust) and Delaware Service Company, Inc.; Senior
Vice President/Investment Accounting/ Assistant Treasurer of Delaware Investment
Advisers (a series of Delaware Management Business Trust). During the past five
years, Mr. O'Connor has served in various executive capacities at different
times with Delaware Investments. Mr. O'Connor also serves as Senior Vice
President/Assistant Treasurer for the six portfolios of the Optimum Fund Trust,
which has the same investment adviser as the Funds.
23
DELAWARE INVESTMENTS DIVIDEND
AND INCOME FUND, INC.
DELAWARE INVESTMENTS GLOBAL
DIVIDEND AND INCOME FUND, INC.
DELAWARE INVESTMENTS ARIZONA
MUNICIPAL INCOME FUND, INC.
DELAWARE INVESTMENTS COLORADO
INSURED MUNICIPAL INCOME FUND, INC.
DELAWARE INVESTMENTS FLORIDA
INSURED MUNICIPAL INCOME FUND
DELAWARE INVESTMENTS MINNESOTA
MUNICIPAL INCOME FUND II, INC.
COMBINED PROXY
STATEMENT
NOTICE OF JOINT
ANNUAL MEETING
OF SHAREHOLDERS
AUGUST 16, 2006
[Delaware Investments(R) LOGO]
PX-CE [--] IVES 7/06 A member of Lincoln Financial Group
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS ARIZONA MUNICIPAL INCOME FUND, INC. (COMMON) CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS DIRECTORS OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON*
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS*
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
* The holders of common shares may not vote for these nominees.
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS ARIZONA MUNICIPAL INCOME FUND, INC. (CLASS A) CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS DIRECTORS OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON*
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS*
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
* The holders of common shares may not vote for these nominees.
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
VOYAGEUR ARIZONA MUNICIPAL INCOME FUND, INC. (CLASS B) CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS DIRECTORS OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON*
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS*
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
* The holders of common shares may not vote for these nominees.
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS COLORADO INSURED MUNICIPAL INCOME FUND, INC. (COMMON) CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS DIRECTORS OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON*
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS*
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
* The holders of common shares may not vote for these nominees.
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS COLORADO INSURED MUNICIPAL INCOME FUND, INC. (CLASS A) CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS DIRECTORS OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON*
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS*
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
* The holders of common shares may not vote for these nominees.
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS COLORADO INSURED MUNICIPAL INCOME FUND, INC. (CLASS B) CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS DIRECTORS OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON*
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS*
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
* The holders of common shares may not vote for these nominees.
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS DIVIDEND AND INCOME FUND, INC. CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS DIRECTORS OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT THE TWO COMMERCE SQUARE, 2001
MARKET STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00
P.M., OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH
THE UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE
UPON ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND
SPECIFICALLY AS INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER
TO THE PROXY STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS GLOBAL DIVIDEND AND INCOME FUND, INC. CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS DIRECTORS OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS FLORIDA INSURED MUNICIPAL INCOME FUND (COMMON) CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS TRUSTEES OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON*
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS*
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
* The holders of common shares may not vote for these nominees.
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS FLORIDA INSURED MUNICIPAL INCOME FUND (CLASS A) CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS TRUSTEES OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON*
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS*
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
* The holders of common shares may not vote for these nominees.
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS FLORIDA INSURED MUNICIPAL INCOME FUND (CLASS B) CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS TRUSTEES OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON*
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS*
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
* The holders of common shares may not vote for these nominees.
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS MINNESOTA MUNICIPAL INCOME FUND II, INC. (COMMON) CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS DIRECTORS OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON*
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS*
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
* The holders of common shares may not vote for these nominees.
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS MINNESOTA MUNICIPAL INCOME FUND II, INC. (CLASS A) CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS DIRECTORS OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON*
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS*
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
* The holders of common shares may not vote for these nominees.
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS MINNESOTA MUNICIPAL INCOME FUND II, INC. (CLASS B) CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS DIRECTORS OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON*
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS*
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
* The holders of common shares may not vote for these nominees.
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS MINNESOTA MUNICIPAL INCOME FUND II, INC. (CLASS C) CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS DIRECTORS OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON*
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS*
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
--------------------------------------------------------------------------------
* The holders of common shares may not vote for these nominees.
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
--------------------------------------------------------------
--------------------------------------------------------------
SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)
DELAWARE INVESTMENTS
2005 MARKET STREET
PHILADELPHIA, PA 19103
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
THE UNDERSIGNED HEREBY APPOINTS MICHAEL E. DRESNIN, KATHRYN R. WILLIAMS AND
DAVID F. CONNOR, OR ANY OF THEM, WITH THE RIGHT OF SUBSTITUTION, PROXIES OF THE
UNDERSIGNED AT THE ANNUAL MEETING OF SHAREHOLDERS OF THE FUND INDICATED ON THE
REVERSE SIDE OF THIS PROXY CARD TO BE HELD AT TWO COMMERCE SQUARE, 2001 MARKET
STREET, 2ND FLOOR, PHILADELPHIA, PENNSYLVANIA, ON AUGUST 16, 2006 AT 4:00 P.M.,
OR AT ANY POSTPONEMENT OR ADJOURNMENTS THEREOF, WITH ALL THE POWERS WHICH THE
UNDERSIGNED WOULD POSSESS IF PERSONALLY PRESENT, AND INSTRUCTS THEM TO VOTE UPON
ANY MATTERS WHICH MAY PROPERLY BE ACTED UPON AT THIS MEETING AND SPECIFICALLY AS
INDICATED ON THE REVERSE SIDE OF THIS PROXY CARD. PLEASE REFER TO THE PROXY
STATEMENT FOR A DISCUSSION OF EACH OF THESE MATTERS.
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE
PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT
MARKED, TO VOTE "FOR" THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY
OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING. PLEASE COMPLETE AND MAIL
THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DELAWARE INVESTMENTS MINNESOTA MUNICIPAL INCOME FUND II, INC. (CLASS D) CHECK
PLEASE VOTE BY CHECKING (MARK) THE APPROPRIATE BOX
BELOW.
FOR WITHHOLD FOR ALL
1. TO ELECT THE FOLLOWING NOMINEES AS DIRECTORS OF THE FUND ALL ALL EXCEPT
|_| |_| |_|
01) THOMAS L. BENNETT 04) ANTHONY D. KNERR 07) THOMAS F. MADISON*
02) JUDE T. DRISCOLL 05) LUCINDA S. LANDRETH 08) JANET L. YEOMANS*
03) JOHN A. FRY 06) ANN R. LEVEN 09) J. RICHARD ZECHER |_ |_ |_
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* The holders of common shares may not vote for these nominees.
If you checked "For All Except," write each withheld nominee's number on the
line above.
THIS PROXY CARD IS ONLY VALID WHEN SIGNED AND
DATED.
PLEASE DATE AND SIGN NAME OR NAMES BELOW AS
PRINTED AT LEFT TO AUTHORIZE THE VOTING OF YOUR
SHARES AS INDICATED ABOVE. WHERE SHARES ARE
REGISTERED WITH JOINT OWNERS, ALL JOINT OWNERS
SHOULD SIGN. PERSONS SIGNING AS EXECUTOR,
ADMINISTRATOR, TRUSTEE OR OTHER REPRESENTATIVE
SHOULD GIVE FULL TITLE AS SUCH.
DATE________________________________________, 2006
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SIGNATURE(S) (JOINT OWNERS) (PLEASE SIGN
WITHIN BOX)