SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

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               Lincoln National Convertible Securities Fund, Inc.
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                (Name of Registrant as Specified In Its Charter)


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    (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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FOR IMMEDIATE RELEASE
Contact: Tom Gariepy, Delaware Investments
         (215) 255-1495



                     LINCOLN NATIONAL CONVERTIBLE SECURITIES
                       FUND, INC. ADJOURNS ANNUAL MEETING;
                     GOLDSTEIN AGAIN FAILS TO SUBMIT PROXIES


         PHILADELPHIA, PA, July 16, 2001 --- Lincoln National Convertible
Securities Fund, Inc. (NYSE:LNV) today announced that it has adjourned its
Annual Meeting of Shareholders until Tuesday, July 24, 2001 at 4:00 p.m., local
time. The reconvened meeting of shareholders will be held at the offices of
Stradley, Ronon, Stevens & Young, LLP, One Commerce Square, 2005 Market Street,
26th Floor Board Room, Philadelphia, PA.

         The Fund again adjourned its Annual Meeting to give it additional time
to solicit proxies to establish a quorum. The Fund believes that the adjournment
is attributable to the actions of professional dissident, Phillip Goldstein, who
is soliciting proxies in opposition to the Fund's Board of Directors. Mr.
Goldstein deliberately failed to submit these proxies to the Independent
Inspector of Election at the June 22, 2001 Annual Meeting, at the reconvened
meeting held on July 3, and again at the reconvened meeting held today.

         David K. Downes, President of the Fund, commented: "Mr. Goldstein has
asked the Fund's shareholders to 'elect directors who will not ignore your
vote,' yet he has essentially ignored the votes of shareholders who have
entrusted him with their proxies. By refusing to submit these proxies, Mr.
Goldstein is prolonging this proxy contest, adding to the expense associated
with it, and disenfranchising those shareholders who expected to have their
votes counted. I urge all Fund shareholders to support the Board of Directors
and help bring this proxy contest to a close by mailing promptly the Fund's
white proxy card. Shareholders who submit their white proxy cards will
definitely have their votes counted."

         Lincoln National Convertible Securities Fund, Inc. is a closed-end,
diversified investment management company managed by Delaware Management
Company, a series of Delaware Management Business Trust. Delaware Management
Business Trust is a wholly-owned subsidiary of Lincoln National Corporation.

         The Fund's primary objective is to provide a high level of total return
through a combination of capital appreciation and current income. Net assets
under management were approximately $103 million as of July 13, 2001.

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