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))
/ / Definitive Proxy Statement
/X/ Definitive Additional Materials
/ / Soliciting Material Under Rule 14a-12


               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)

Payment of Filing Fee (Check the appropriate box):

/X/ No fee required
/ / Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

    1) Title of each class of securities to which transaction applies:


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    2) Aggregate number of securities to which transaction applies:


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    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):


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    4) Proposed maximum aggregate value of transaction:


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    5) Total fee paid:


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/ / Fee paid previously with preliminary 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:

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    2) Form, Schedule or Registration Statement No.:

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    3) Filing Party:

    ___________________________________________________________________________
    4) Date Filed:

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               LINCOLN NATIONAL CONVERTIBLE SECURITIES FUND, INC.
                               One Commerce Square
                               2005 Market Street
                             Philadelphia, PA 19103


                          SUPPLEMENT TO PROXY STATEMENT
                                DATED MAY 7, 2002



         The Fund has been informed that a shareholder may submit proposals for
consideration at the June 14, 2002 Annual Meeting of Shareholders without
soliciting proxies from the Fund's shareholders. These proposals may include the
nomination of up to seven individuals for election to the Fund's Board, as well
as separate proposals (i) recommending that the Fund be converted into an
open-end investment company and (ii) to adopt a new bylaw to be effective with
respect to the 2002 Annual Meeting precluding the nomination for election as a
director of the Fund of any person whom a court has found to have breached his
or her fiduciary duty to the Fund's stockholders. It is the intention of each
person who will be authorized to vote shares represented by proxies solicited by
the Board of Directors to vote such shares "AGAINST" each of the foregoing
potential shareholder proposals, if any, that is submitted at the Annual
Meeting. The Board of Directors does not know of any additional matters that may
be brought before the Annual Meeting. However, if any additional matters
properly come before the Annual Meeting, it is intended that the persons named
as proxies in the enclosed Proxy Card will vote in accordance with their best
judgment.

The date of this Supplement is May 28, 2002.