EXHIBIT 99.CERT

                                  CERTIFICATION


I, Jude T. Driscoll, certify that:

1.   I have reviewed this report on Form N-CSR of Delaware Group Equity Funds V;

2.   Based on my knowledge, this report does not contain any untrue statement of
     a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this report, fairly present in all material
     respects the financial condition, results of operations, changes in net
     assets, and cash flows (if the financial statements are required to include
     a statement of cash flows) of the registrant as of, and for, the periods
     presented in this report;

4.   The registrant's other certifying officer(s) and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in rule 30a-3(c) under the Investment Company Act of 1940) for the
     registrant and have:

         (a)    designed such disclosure controls and procedures, or caused such
                disclosure controls and procedures to be designed under our
                supervision, to ensure that material information relating to the
                registrant, including its consolidated subsidiaries, is made
                known to us by others within those entities, particularly during
                the period in which this report is being prepared;

         (b)    evaluated the effectiveness of the registrant's disclosure
                controls and procedures and presented in this report our
                conclusions about the effectiveness of the disclosure controls
                and procedures, as of a date within 90 days prior to the filing
                date of this report based on such evaluation; and

         (c)    disclosed in this report any change in the registrant's internal
                control over financial reporting that occurred during the
                registrant's most recent fiscal half-year (the registrant's
                second fiscal half-year in the case of an annual report) that
                has materially affected, or is reasonably likely to materially
                affect, the registrant's internal control over financial
                reporting; and

5.   The registrant's other certifying officer(s) and I have disclosed to the
     registrant's auditors and the audit committee of the registrant's board of
     directors (or persons performing the equivalent functions):

         (a)    all significant deficiencies and material weaknesses in the
                design or operation of internal control over financial reporting
                which are reasonably likely to adversely affect the registrant's
                ability to record, process, summarize, and report financial
                information; and

         (b)    any fraud, whether or not material, that involves management or
                other employees who have a significant role in the registrant's
                internal control over financial reporting.



Date:    January 29, 2004

         Jude T. Driscoll
- -------------------------------------
By:      Jude T. Driscoll
Title:   Chairman




                                                                 EXHIBIT 99.CERT

                                  CERTIFICATION


I, Joseph H. Hastings, certify that:

1.   I have reviewed this report on Form N-CSR of Delaware Group Equity Funds V;

2.   Based on my knowledge, this report does not contain any untrue statement of
     a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this report, fairly present in all material
     respects the financial condition, results of operations, changes in net
     assets, and cash flows (if the financial statements are required to include
     a statement of cash flows) of the registrant as of, and for, the periods
     presented in this report;

4.   The registrant's other certifying officer(s) and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in rule 30a-3(c) under the Investment Company Act of 1940) for the
     registrant and have:

         (a)    designed such disclosure controls and procedures, or caused such
                disclosure controls and procedures to be designed under our
                supervision, to ensure that material information relating to the
                registrant, including its consolidated subsidiaries, is made
                known to us by others within those entities, particularly during
                the period in which this report is being prepared;

         (b)    evaluated the effectiveness of the registrant's disclosure
                controls and procedures and presented in this report our
                conclusions about the effectiveness of the disclosure controls
                and procedures, as of a date within 90 days prior to the filing
                date of this report based on such evaluation; and

         (c)    disclosed in this report any change in the registrant's internal
                control over financial reporting that occurred during the
                registrant's most recent fiscal half-year (the registrant's
                second fiscal half-year in the case of an annual report) that
                has materially affected, or is reasonably likely to materially
                affect, the registrant's internal control over financial
                reporting; and

5.   The registrant's other certifying officer(s) and I have disclosed to the
     registrant's auditors and the audit committee of the registrant's board of
     directors (or persons performing the equivalent functions):

         (a)    all significant deficiencies and material weaknesses in the
                design or operation of internal control over financial reporting
                which are reasonably likely to adversely affect the registrant's
                ability to record, process, summarize, and report financial
                information; and

         (b)    any fraud, whether or not material, that involves management or
                other employees who have a significant role in the registrant's
                internal control over financial reporting.



Date:    January 27, 2004

         Joseph H. Hastings
- -------------------------------------
By:      Joseph H. Hastings
Title:   Chief Financial Officer







                                                              EXHIBIT 99.906CERT

     Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002


In connection with the attached report of the registrant on Form N-CSR to be
filed with the Securities and Exchange Commission (the "Report"), each of the
undersigned officers of the registrant does hereby certify, to the best of such
officer's knowledge, that:

1.   The Report fully complies with the requirements of Section 13(a) or Section
     15(d) of the Securities Exchange Act of 1934; and

2.   The information contained in the Report fairly represents, in all material
     respects, the financial condition and results of operations of the
     registrant as of, and for, the periods presented in the Report.


Date:    January 29, 2004



         Jude T. Driscoll
- -------------------------------------
By:      Jude T. Driscoll
Title:   Chairman



         Joseph H. Hastings
- -------------------------------------
By:      Joseph H. Hastings
Title:   Chief Financial Officer

A signed original of this written statement required by Section 906 of the
Sarbanes-Oxley Act, or other document authenticating, acknowledging, or
otherwise adopting the signatures that appear in typed form within the
electronic version of this written statement required by Section 906, has been
provided to the registrant and will be retained by the registrant and furnished
to the SEC or its staff upon request.