PHILADELPHIA, Oct. 28 /PRNewswire-FirstCall/ -- Delaware Investments Colorado Municipal Income Fund, Inc. and Delaware Investments Minnesota Municipal Income Fund II, Inc. (each, a "Fund," and collectively, the "Funds") today called for third and final redemption at par for the remaining portion of each Fund's outstanding preferred shares pursuant to the plan approved by the Funds' Board of Directors to redeem all or a significant portion of outstanding preferred shares issued by the Funds.
The third and final redemption for both series of Delaware Investments Colorado Municipal Income Fund, Inc. (the "Colorado Fund") is scheduled for November 5, 2008. After November 5, 2008, it is anticipated that the Colorado Fund will no longer have any outstanding preferred shares.
The third and final redemption for Delaware Investments Minnesota Municipal Income Fund II, Inc. (the "Minnesota Fund") is expected to take place on November 5, 2008 for Series B and on November 7, 2008 for Series A, C and D. After these additional partial redemptions are completed, it is anticipated that the Minnesota Fund will no longer have any outstanding preferred shares.
Preferred shareholders of each series of the Funds listed in the table below are subject to redemption on the dates and in the amounts listed. The implementation of the redemption plan, including the amounts and the frequency with which Management may seek to redeem shares, remains subject to market conditions as well as the discretion of the Funds' investment managers.
Fund Name Series CUSIP Number of Redemption Number of Preferred Date Preferred Shares Shares to be Outstanding Redeemed as of 11/3/2008 Delaware Investments A 246101208 35 November 5, 2008 35 Colorado Municipal Income Fund, Inc. B 246101307 35 November 5, 2008 35 Delaware Investments A 24610V202 130 November 7, 2008 130 Minnesota Municipal Income Fund II, Inc. B 24610V301 130 November 5, 2008 130 C 24610V400 93 November 7, 2008 93 D 24610V509 63 November 7, 2008 63 About Delaware Investments:
Delaware Investments, an affiliate of Lincoln Financial Group, is a Philadelphia-based diversified asset management firm with more than $125 billion in assets under management as of September 30, 2008. Through a broad range of managed accounts and portfolios, mutual funds, retirement accounts, sub-advised funds 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 and its affiliates. For more information on Lincoln Financial Group, visit http://www.lincolnfinancial.com/.
