PHILADELPHIA, Dec. 9 /PRNewswire-FirstCall/ -- Delaware Investments Minnesota Municipal Income Fund, Inc. (ASE:VMN), Delaware Investments Minnesota Municipal Income Fund II, Inc. (ASE:VMM) (the "MN Muni Income Fund") and Delaware Investments Minnesota Municipal Income Fund III, Inc. (ASE:VYM) (each, a "Fund") today announced the adjournment of the Special Meeting of Shareholders (the "Special Meeting") until Thursday, January 12, 2006 at 2:00 p.m., local time, at which time it will be reconvened at the offices of Delaware Investments, One Commerce Square, 2005 Market Street, 30th Floor Board Room, Philadelphia, PA. The Special Meeting was adjourned to give the Funds additional time to solicit proxies. The purpose of the Special Meeting is to approve the reorganization of each Fund into the MN Muni Income Fund. Under the terms of the proposed reorganization, the MN Muni Income Fund would acquire substantially all of the assets of each Fund in exchange for shares of the MN Muni Income Fund; those shares of the MN Muni Income Fund would then be distributed pro rata to each Fund's shareholders, and each Fund would subsequently be liquidated and dissolved. These transactions, which are expected to be tax-free, are subject to the approval of each Fund's shareholders, including each Fund's preferred shareholders, voting as a separate class, as well as the approval of shareholders of the MN Muni Income Fund. The shareholders of the MN Muni Income Fund must also approve the issuance of shares to the shareholders of the Funds. If approved by shareholders of each Fund, common shares will be exchanged based on the respective net asset values of each Fund's common stock and MN Muni Income Fund's common stock, and holders of each Fund's preferred shares will receive an equal number of a corresponding series of preferred shares of the MN Muni Income Fund having the same liquidation preference as the Funds' preferred shares. About Delaware Investments: Delaware Investments, an affiliate of Lincoln Financial Group, is a Philadelphia-based diversified asset management firm with more than $110 billion in assets under management as of September 30, 2005. Through a broad range of managed accounts and portfolios, mutual funds, retirement plan services, sub-advised funds, college savings plans and other investment products, Delaware Investments provides investment services to individual investors and to institutional investors such as private and public pension funds, foundations, and endowment funds. Delaware Investments is the marketing name for Delaware Management Holdings, Inc. and its subsidiaries. For more information on Delaware Investments, visit the company at http://www.delawareinvestments.com/. Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. For more information on Lincoln Financial Group, visit http://www.lfg.com/. DATASOURCE: Delaware Investments CONTACT: Laurel O'Brien, Corporate Communications, Delaware Investments, +1-215-255-1520, ; or Priscilla Brown, Investor Relations, Lincoln Financial Group, +1-215-448-1422 Web site: http://www.delawareinvestments.com/ http://www.lfg.com/

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