SUPPLEMENT TO PROSPECTUS OF
EVERGREEN GROWTH AND INCOME FUNDS
I. Evergreen Equity Income Fund
Proposed Fund Reorganization
On March 24, 2000 the Board of Trustees of the Evergreen Funds approved
a proposal to reorganize Evergreen Equity Income Fund ("Equity Income") into
Evergreen Income and Growth Fund ("Income and Growth"). If the shareholders of
Equity Income approve the proposal, all of the assets of Equity Income will be
transferred to Income and Growth and shareholders of Equity Income will receive
shares of Income and Growth in exchange for their shares. Shareholders of Equity
Income as of April 28, 2000, are scheduled to vote on the proposal at a special
meeting of shareholders to be held on July 14, 2000. If approved, the
reorganization is proposed to take place on July 21, 2000. Shareholders of
Equity Income will be mailed information detailing the proposal on or about May
26, 2000.
553691 4/00
April 3, 2000
