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VOYAGEUR ARIZONA INSURED TAX-FREE FUND MAKES BUSINESS WEEK'S BEST BOND FUND LIST

 NEW YORK, Dec. 30 /PRNewswire/ -- Business Week Magazine's December 23 issue cited the Voyageur Arizona Insured Tax-Free Fund as one of the top 20 of 1992's Best Tax-Free Bond Funds. The fund has achieved a total return of 9.73 percent (including appreciation plus reinvested dividends and capital gains) for one year through Dec. 11, 1992.
 Business Week stated that the average municipal bond fund was up 7.85 percent, which beat the average of 5.19 percent for government-bond funds. Business Week drew its results from Morningstar, Inc. data.
 Voyageur entered the Arizona tax-free municipal bond market in April of 1991 with an eye to providing a product that conservative Arizona investors would like -- an insured municipal bond fund, Voyageur Arizona Insured Tax-Free Fund is exempt from federal income tax and Arizona state income tax.
 "Municipal bonds continue to prove their importance in investment portfolios, particularly as consumers look for alternatives for CD rollover dollars and face the tax changes expected to be enacted by the new Clinton administration," said Andrew M. McCullagh, Jr., portfolio manager.
 Voyageur has $3.5 billion entrusted to it by pension and profit sharing plans, commercial banks, insurance companies, public and non- profit entities, high net worth individuals and 16 mutual funds, investing in municipal bonds in California, Colorado, Florida, Minnesota, Arizona, Missouri, Kansas, New Mexico, North Dakota, and Utah as well as government bonds and growth stocks.
 -0- 12/30/92
 /CONTACT: Andrew M. McCullagh, Jr., of Voyageur Tax-Free Fund, 303-292-0300; or Lisbeth Wiley Chapman of Ink & Air, 617-455-8837 for Voyageur Tax-Free Fund/


CO: Voyageur Arizona Insured Tax-Free Fund ST: Arizona IN: FIN INS SU:

DD -- NE006 -- 0596 12/30/92 11:50 EST
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Publication:PR Newswire
Date:Dec 30, 1992
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