This paper presents a declarative semantics of logic programs which possibly contain inconsistent information. We introduce a multi-valued interpretation of logic programs and present the extended well-founded semantics for paraconsistent logic programs. In this setting, a meaningful information is still available in the presence of an inconsistent information in a program and any fact which is a ected by an inconsistent information is distinguished from the others. The well-founded semantics is also extended to disjunctive paraconsistent logic programs.