RECITALS:

                                                             Exhibit 99.23(d)(4)

                         INTER-SERIES TRANSFER AGREEMENT
                        INVESTMENT SUB-ADVISORY AGREEMENT

         This Inter-Series Transfer Agreement by and between Delaware Lincoln
Investment Advisers ("DLIA") and Delaware Management Company ("DMC"), both of
which are a separate series of Delaware Management Business Trust ("DMBT") shall
be effective as of May 1, 2002.

                                    RECITALS:

     WHEREAS, DMBT is a multi-series business trust registered with the
Securities and Exchange Commission as an investment adviser;

     WHEREAS, both DLIA and DMC are series of DMBT;

     WHEREAS, DLIA intends to transfer its obligations under the Investment
Sub-Advisory Agreement dated May 1, 1999 (the "Agreement") between DLIA and
Xxxxxx Investment Management, LLC (the "Sub-adviser") relating to Lincoln
National Aggressive Growth Fund, Inc. (the "Fund") to DMC effective May 1, 2002;

     WHEREAS, this transfer does not result in a transfer of the Agreement from
one registered investment adviser to another, or a change of control or
management, and thus does not constitute an "assignment" of the Agreement under
the Investment Company Act of 1940, as amended; and

     WHEREAS, the described transfer of advisory obligations from DLIA to DMC
was approved by the Board of Directors of the Fund;

     NOW, THEREFORE, the parties hereto agree as follows:

1.   The Agreement previously in effect between DLIA and the Sub-adviser is
     hereby transferred to DMC, and all references to DLIA shall be replaced
     with references to DMC.

2.   DMC agrees to perform and be bound by and assumes all of the terms of the
     Agreement and the obligations and duties of DLIA thereunder.

3.   The Agreement shall continue in full force and effect as set forth therein
     for the remainder of its term.

IN WITNESS WHEREOF, the undersigned have executed this Inter-Series Transfer
Agreement as of the date set forth above.

DELAWARE LINCOLN INVESTMENT             DELAWARE MANAGEMENT
ADVISERS, a series of Delaware          COMPANY, a series of Delaware
Management Business Trust               Management Business Trust

By:      /s/ Xxxx X. Xxxxxxxx           By:      /s/ Xxxxx X. Xxxxxx
   -------------------------------         -------------------------------------
Name:  Xxxx X. Xxxxxxxx                 Name:  Xxxxx X. Xxxxxx
Title: Executive Vice President/        Title: President
       Head of Fixed Income

ACKNOWLEDGED:                           ACKNOWLEDGED:

LINCOLN NATIONAL AGGRESSIVE             XXXXXX INVESTMENT MANAGEMENT,
GROWTH FUND, INC.                       LLC

By:      /s/ Xxxxx X. Xxxxxxxxx         By:      /s/ Xxxxxx X. Silver
   -------------------------------            ------------------------------
Name:  Xxxxx X. Xxxxxxxxx               Name:    Xxxxxx X. Silver
                                              ------------------------------
Title: President                        Title:   Senior Managing Director
                                              ----------------------------------