Delaware Investments(R) Dividend and Income Fund, Inc. Restates Final Results of...

Delaware Investments(R) Dividend and Income Fund, Inc. Restates Final Results
of Tender Offer

PHILADELPHIA, July 6 /PRNewswire-FirstCall/ -- Delaware Investments Dividend
and Income Fund, Inc. (NYSE: DDF) (the "Fund"), a closed-end management
investment company, today restated the final results of its tender offer for
up to 496,792 shares of its common stock representing up to 5 percent of its
issued and outstanding shares of common stock. The final results are being
restated to correct the applicable proration factor and shares outstanding
after the purchase of the tendered shares. The offer expired at 11:59 p.m.,
New York City time, on Friday, June 26, 2009.

Based on a count by Mellon Investor Services, LLC, the depositary for the
tender offer, approximately 566,109.5441 shares of common stock, or
approximately 5.6977 percent of the Fund's common stock outstanding, were
tendered, and 496,792 have been accepted for cash payment at a price equal to
$5.87, the Fund's net asset value ("NAV") as of the close of regular trading
on the New York Stock Exchange on June 29, 2009. Since the tender offer was
oversubscribed, all tenders of shares are subject to proration (at a ratio of
approximately .879434237) in accordance with terms of the tender offer.
Following the purchase of the tendered shares, the Fund will have
approximately 9,439,042.1587 shares of common stock outstanding.

The Fund is a diversified, closed-end fund. The Fund's primary investment
objective is to seek high current income; capital appreciation is a secondary
objective. The Fund seeks to achieve its objectives by investing, under normal
circumstances, at least 65% of its total assets in income-generating equity
securities, including dividend-paying common stocks, convertible securities,
preferred stocks and other equity-related securities. Up to 35% of the Fund's
total assets may be invested in non-convertible debt securities consisting
primarily of high-yield, high-risk corporate bonds. In addition, the Fund
utilizes leveraging techniques in an attempt to obtain a higher return for the
Fund. There is no assurance that the Fund will achieve its investment
objectives.

In 1995, the Fund implemented a managed distribution policy. Under the policy,
the Fund is managed with a goal of generating as much of the distribution as
possible from net investment income and short-term capital gains. The balance
of the distribution then comes from long-term capital gains to the extent
permitted and, if necessary, a return of capital.

About Delaware Investments:
Delaware Investments, an affiliate of Lincoln Financial Group, is a
Philadelphia-based diversified asset management firm with more than $110
billion in assets under management as of March 31, 2009. 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 www.delawareinvestments.com, or for
shareholder related questions, call 800 523-1918. Lincoln Financial Group is
the marketing name for Lincoln National Corporation (NYSE: LNC) and its
affiliates. For more information on Lincoln Financial Group, visit
www.lincolnfinancial.com.

SOURCE Delaware Investments

Ayele Ajavon, +1-215-255-1632, AAjavon@delinvest.com, or Laurel O'Brien,
+1-484-583-1735, Laurel.OBrien@lfg.com, both of Media Relations of Delaware
Investments