SUPPLEMENT TO THE PROSPECTUSES
OF
EVERGREEN INTERNATIONAL AND GLOBAL GROWTH FUNDS
EVERGREEN VARIABLE ANNUITY FUNDS
I. Evergreen Perpetual Global Fund
Evergreen Perpetual International Fund
Evergreen VA Perpetual International Fund
(collectively, the "Funds")
Effective September 22, 2000, Mentor Perpetual will act as the Funds'
interim investment advisor along with Perpetual Portfolio Management Limited
("PPM") as the interim sub-advisor to the Funds. The contracts have been
approved by the Trustees and will be presented to shareholders for approval.
Upon shareholder approval, these entities will become the investment advisor of
the sub-advisor.
In conjunction with the above, the section of the prospectus entitled
"FUND FACTS:" is supplemented as follows:
Interim Investment Advisor:
o Mentor Perpetual Advisors, LLC
Interim Sub-Advisor:
o Perpetual Portfolio Management Limited ("PPM")
In addition, the section entitled "THE FUNDS' INVESTMENT ADVISORS" is
supplemented as follows:
International and Global Growth Funds prospectus:
Mentor Perpetual Advisors, LLC (Mentor Perpetual) is the interim
investment advisor to:
o Perpetual Global Fund
o Perpetual International Fund
Perpetual Portfolio Management Limited (PPM) is the interim sub-advisor
to:
o Perpetual Global Fund
o Perpetual International Fund
Variable Annuity Trust prospectus:
Mentor Perpetual Advisors, LLC (Mentor Perpetual) is the interim
investment advisor to:
o VA Perpetual International Fund
Perpetual Portfolio Management Limited (PPM) is the interim sub-advisor
to:
o VA Perpetual International Fund
The following language should be included in both prospectuses:
Mentor Perpetual, organized in 1995, is owned equally by Perpetual plc,
a diversified financial services holding company based in the United
Kingdom, and Mentor Investment Advisors, LLC. Mentor Perpetual
currently manages over $447.1 million in assets for 3 of the Evergreen
Funds. Mentor Perpetual is located at 901 East Byrd Street, Richmond,
Virginia 23219.
PPM manages the day-to-day investment operations of each Fund. There is
no additional charge to the Funds for the services provided by PPM.
Organized in 1974, PPM is a subsidiary of Perpetual, plc and currently
acts as sub-advisor to each of the Evergreen Funds being advised by
Mentor Perpetual.
October 18, 2000
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II. Evergreen Perpetual Global Fund
Evergreen Perpetual International Fund
Evergreen VA Perpetual International Fund
(collectively, the "Funds")
On October 19, 2000, Perpetual plc announced that it would merge with
AMVESCAP PLC. AMVESCAP, an international investment management organization
based in London, is investment adviser to the AIM and Invesco mutual fund
families. The transaction is expected to close in December 2000.
Perpetual plc is the parent company of Perpetual Portfolio Management
Limited ("PPM"), each Fund's sub-adviser, and also is a 50% owner of Mentor
Perpetual Advisors, LLC, ("Mentor Perpetual") the Funds' investment advisor. The
proposed transaction would result in the termination of each Fund's existing
advisory agreement with Mentor Perpetual as well as each Fund's sub-advisory
agreement with PPM and require approval of new agreements by each Fund's Board
of Trustees and shareholders. The Funds expect to send information concerning
this transaction to shareholders and to schedule a meeting at which shareholders
can vote on new contracts during the first quarter of 2001.
November 10, 2000 556213 RV1 11/00
