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THE VOYAGEUR MINNESOTA MUNICIPAL INCOME FUND ANNOUNCES QUARTERLY EARNINGS

 THE VOYAGEUR MINNESOTA MUNICIPAL INCOME FUND
 ANNOUNCES QUARTERLY EARNINGS
 MINNEAPOLIS, Minn., Aug. 10 /PRNewswire/ -- The Voyageur Minnesota Municipal Income Fund, Inc. (AMEX: VMN) a closed-end, non-diversified management investment company seeking federal and Minnesota state tax- free income through investments primarily in Minnesota municipal bonds, today announced its performances from April 24, 1992 (commencement of investment operations) through June 30, 1992.
 As of June 26, 1992, total net assets of the fund were $36,606,495 and the net asset value per share was $14.11 based on 2,594,700 shares outstanding. This is an increase of 1.15 percent over the fund's initial net asset value of $13.95 on April 24, 1992. The fund's common stock closed on the American Stock Exchange on June 26, 1992, at $15.25 per share, representing a premium of 8.08 percent to the June 26, 1992, net asset value.
 For the period April 24, 1992 to June 26, 1992, the fund's net investment income was $207,608 or $0.08 per share. The fund's most recent monthly dividend was declared on July 27, 1992, payable on Aug. 28, 1992, to shareholders of record at the close of business on Aug. 14, 1992. The dividend, which is exempt from both federal and Minnesota state personal income tax, was declared at $0.0775 per share.
 As of June 30, 1992, the fund's portfolio is 100 percent invested in Minnesota municipal obligations, with the following industry holdings (in descending order):
 General obligations 23.4 percent
 Health care 19.0 percent
 Utilities 18.5 percent
 Pre-re/escrowed 11.7 percent
 Housing 9.0 percent
 Education 7.1 percent
 Pollution control and IDR 6.9 percent
 Cash and cash equivalents 4.4 percent
 Total 100.0 percent
 The fund's investment adviser is Voyageur Fund Managers.
 -0- 8/10/92
 /CONTACT: Theodore E. Jessen, secretary of the Voyageur Minnesota Municipal Income Fund, 612-376-7015/
 (VMN) CO: Voyageur Minnesota Municipal Fund, Inc. ST: Minnesota IN: FIN SU: ERN


SM-PS -- NY074 -- 8685 08/10/92 17:00 EDT
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Date:Aug 10, 1992
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