Delaware Investments Minnesota Municipal Income Funds Announce Final Distribution
February 16 2006 - 11:05AM
PR Newswire (US)
PHILADELPHIA, Feb. 16 /PRNewswire-FirstCall/ -- Delaware
Investments Minnesota Municipal Income Fund, Inc. (AMEX:VMN)
("Minnesota I") and Delaware Investments Minnesota Municipal Income
Fund III, Inc. (AMEX:VYM) ("Minnesota III") (each, a "Fund") today
announced that each Fund will make a final distribution of
substantially all of its undistributed ordinary income and
undistributed capital gain net income, if any, earned and
anticipated to be earned through close of business on February 24,
2006 (after taking into account dividends payable to preferred
shares), payable on March 10, 2006 to common shareholders of record
on February 24, 2006. The final distribution is being made in
connection with the acquisition by Delaware Investments Minnesota
Municipal Income Fund II, Inc. (AMEX:VMM) ("Minnesota II") of
substantially all of the assets of Minnesota I and Minnesota III in
exchange for common and preferred shares, as applicable, of
Minnesota II (the "Acquisition"). The Acquisition was approved by
shareholders of the three closed-end funds at the reconvened
Special Meeting of Shareholders held on January 12, 2006 and is
expected to close on February 24, 2006 at 5:00 p.m. Eastern Time.
In January 2007, shareholders of each Fund will receive Form
1099-DIV that will report the amount and character of each Fund's
distributions paid in calendar year 2006. The Funds currently
anticipate issuing another press release on February 21, 2006
stating the exact amount of the final distribution, if any. 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 December 31, 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/. First Call Analyst: DATASOURCE: Delaware
Investments CONTACT: Ayele Ajavon, Corporate Communications,
+1-215-255-1632, , or Laurel O'Brien, Corporate Communications,
+1-215-255-1520, , both of Delaware Investments Web site:
http://www.delawareinvestments.com/ http://www.lfg.com/
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