SUPPLEMENT TO PROSPECTUS OF
EVERGREEN BALANCED FUNDS
I. Evergreen Tax Strategic Foundation Fund
Effective October 2, 2000, the section of the prospectus entitled "THE
FUNDS' PORTFOLIO MANAGERS" is supplemented to reflect the following change:
Jean C. Ledford, CFA, Richard S. Welsh, and Mathew M. Kiselak co-manage
the Fund. Ms. Ledford has co-managed the Fund with Richard Welsh since August
1999. Ms. Ledford became President and Chief Executive Officer of EAMC in August
1999. From February 1997 until she joined EAMC, Ms. Ledford was a portfolio
manager at American Century. From 1980 until she joined American Century, Ms.
Ledford was the investment director at the State of Wisconsin Investment Board.
Mr. Welsh has co-managed the Fund with Jean Ledford since August 1999.
Mr. Welsh joined EAMC as Senior Vice President and portfolio manager in August
1999. From August 1994 until he joined EAMC, Mr. Welsh was a portfolio manager
and analyst at American Century.
Mr. Kiselak has co-managed the fixed income portion of the Fund since
October 2000. He joined FUNB in August 2000 as a senior portfolio manager and
Vice President. From August 1992 until he joined FUNB, Mr. Kiselak was a
portfolio manager with Bank of America Capital Management. He has been
affiliated with EAMC since October 2000.
October 2, 2000 556102 10/00
