Delaware Distributors, L.P. 2005 Market Street Philadelphia, PA 19103

Ex-99.e.1.iii

Delaware Distributors, L.P.
0000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000

January 25, 2008

Delaware Equity Funds IV
0000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000

Re:      Expense Limitations

Ladies and Gentlemen:

     By our execution of this letter agreement (the “Agreement”), intending to be legally bound hereby, Delaware Distributors, L.P. (the “Distributor”) agrees that in order to improve the performance of certain series of Delaware Group Equity Funds IV (each a “Fund”), the Distributor shall waive a portion of the Rule 12b-1 (distribution) fees applicable to the specified Fund class, so that the Fund’s Rule 12b-1 (distribution) fees with respect to such class will not exceed the percentages set forth below for the period February 1, 2008 through January 31, 2009.

Fund	Class	12b-1 Cap
Delaware Large Cap Growth Fund	Class A	0.25%
	Class R	0.50%
Delaware Growth Opportunities Fund	Class R	0.50%

The Distributor acknowledges that it shall not be entitled to collect on, or make a claim for, waived fees at any time in the future.

Delaware Distributors, L.P.
By:	/s/ Xxxxxxx X. Xxxxx
	Name:	Xxxxxxx X. Xxxxx
	Title:	Executive Vice President
	Date:	January 25, 2008

Your signature below acknowledges
acceptance of this Agreement:

Delaware Group Equity Funds IV

By:	/s/ Xxxxxxx X. Xxxxx
	Name:	Xxxxxxx X. Xxxxx
	Title:	President
	Date:	January 25, 2008