SUPPLEMENT TO THE PROSPECTUSES AND
STATEMENT OF ADDITIONAL INFORMATION ("SAI") OF
EVERGREEN GROWTH AND INCOME FUNDS
I. Evergreen Equity Income Fund (formerly Evergreen Income and Growth
Fund), Evergreen Growth and Income Fund, Evergreen Small Cap Value
Fund, Evergreen Utility Fund, Evergreen Value Fund (collectively, the
"Funds")
Effective November 1, 2000, Evergreen Investment Management Company
will become the Funds' investment advisor. There will be no change in either the
portfolio manager(s) of the Funds or the advisory fees paid by the Funds.
In conjunction with the above, the section of the prospectus entitled
"FUND FACTS" is supplemented as follows:
Investment Advisor:
o Evergreen Investment Management Company
In addition, the section entitled "THE FUNDS' INVESTMENT ADVISORS" is
supplemented as follows:
Evergreen Investment Management Company (EIMC) is the investment
advisor to:
o Evergreen Equity Income Fund
o Evergreen Growth and Income Fund
o Evergreen Small Cap Value Fund
o Evergreen Utility Fund
o Evergreen Value Fund
EIMC has been managing mutual funds and private accounts since 1932 and
currently manages over $12.9 billion in assets for 28 of the Evergreen
Funds. EIMC is located at 200 Berkeley Street, Boston, Massachusetts
02116-5034.
The section in part one of the SAI entitled "Advisory Fees" under
`EXPENSES' is supplemented as follows:
Evergreen Investment Management Company ("EIMC") is the investment
advisor to Equity Income Fund, Growth and Income Fund, Small Cap Value Fund,
Utility Fund and Value Fund.
November 1, 2000 556323 11/00
