SUPPLEMENT TO THE
INSTITUTIONAL SERVICE SHARES PROSPECTUS OF
EVERGREEN GROWTH AND INCOME FUNDS
I. Evergreen Small Cap Value Fund
Effective January 1, 2001, Evergreen Growth and Income Funds
Institutional Service Shares prospectus is revised and supplemented as follows:
The tables under the section entitled "EXPENSES" for the Evergreen
Small Cap Value Fund have been restated to reflect a change in the advisory
fees. Management Fees, Other Expenses, Total Fund Operating Expenses and Example
of Fund Expenses will now be as follows:
Annual Fund Operating Expenses
(expenses that are deducted from Fund assets)+
Total Fund
Management 12b-1 Other Operating
Fees Fees Expenses Expenses++
Institutional 0.90% 0.25% 0.43% 1.58%
Service
+Estimated for the fiscal year ending 7/31/2001.
++The Fund's investment advisor has agreed to waive the management fee and/or
reimburse expenses for a period of two years beginning in July 2000 in order to
limit Total Fund Operating Expenses to 1.55%.
The table below shows the total expenses you would pay on a $10,000 investment
over one-, three-, five- and ten-year periods. The example is intended to help
you compare the cost of investing in this Fund versus other mutual funds and is
for illustration only. The example assumes a 5% average annual return and
reinvestment of all dividends and distributions. Your actual costs may be higher
or lower.
Example of Fund Expenses
After:
1 year $ 628
3 years $ 950
5 years $1,295
10 years $2,264
January 1, 2001 556816 1/01
