PHILADELPHIA, June 5 /PRNewswire-FirstCall/ -- Lincoln National Income Fund, Inc. (NYSE:LND) today announced that it will make a final distribution of substantially all of the Fund's undistributed ordinary income and undistributed capital gain net income, if any, earned and anticipated to be earned through close of business on June 16, 2006, payable on June 30, 2006 to shareholders of record on June 16, 2006. In January 2007, shareholders will receive Form 1099-DIV which will report the amount and character of the Fund's distributions paid in calendar year 2006. The Fund will issue another press release once the exact amount of the final distribution, if any, has been determined. The Fund's final distribution will be made in connection with the reorganization of the Fund into Delaware Corporate Bond Fund ("Corporate Bond Fund"), an open-end series of Delaware Group Income Funds, which was approved by the Fund's shareholders at a Special Meeting of Shareholders held on June 1, 2006. The transaction, which is expected to be a tax-free reorganization, is currently anticipated to become effective after the close of trading on Friday, June 16, 2006 (the "Closing Date") and would entail (i) the acquisition of all of the assets of the Fund by Corporate Bond Fund in exchange for Class A shares of Corporate Bond Fund; (ii) the pro rata distribution of such shares to the Fund's shareholders in exchange for their shares of the Fund; and (iii) the subsequent liquidation and dissolution of the Fund. For the three months after the Closing Date, former Fund shareholders who redeem or exchange shares of Corporate Bond Fund received in connection with the transaction will pay a 2% redemption fee. The Fund is a closed-end, non-diversified investment management company managed by Delaware Management Company. Delaware Management Company is a series of Delaware Management Business Trust, a subsidiary of Lincoln National Corporation. The Fund's primary objective is to seek to produce increasing dollar amounts of income for distribution to its shareholders over the long term. As of June 2, 2006, the Fund had total assets of approximately $91.8 million. DATASOURCE: Delaware Investments CONTACT: Ayele Ajavon, +1-215-255-1632, , or Laurel O'Brien, +1-215-255-1520, , both of Corporate Communications of Delaware Investments Web site: http://www.delawareinvestments.com/

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