SUPPLEMENT TO THE PROSPECTUS OF
EVERGREEN SELECT FIXED INCOME FUNDS (the "Funds")
Evergreen Select Adjustable Rate Fund
Evergreen Select Intermediate Term Municipal Bond Fund
Evergreen Select Core Bond Fund
Evergreen Select International Bond Fund
Evergreen Select Fixed Income Fund
Evergreen Select Limited Duration Fund
Evergreen Select Income Plus Fund
Evergreen Select Total Return Bond Fund
The Institutional share and Institutional Service share prospectus of the Funds
dated February 1, 1999, is revised as follows:
1. The following sentence is added to the end of the first paragraph under
the heading How To Choose The Share Class That Best Suits You:
Institutional shares are only offered to investment advisory clients of an
investment advisor of an Evergreen Fund (or the advisor's affiliates).
2. Expenses of the Funds are revised as follows:
Select Core Bond Fund:
Annual Fund Operating Expenses (expenses that are deducted from Fund assets)
Total Fund
Management 12b-1 Other Operating
Fees Fees Expenses Expenses++
Institutional 0.40% 0.00% 0.14% 0.54%
Institutional Service 0.40% 0.25% 0.14% 0.79%
++ Actual for the fiscal period ended 9/30/98.
Including current fee waivers and expense reimbursements, total operating
expenses for the Institutional shares would be 0.42% and Institutional Service
shares would be 0.68%.
Example of Fund Expenses
Institutional Institutional Service
After 1 year $55 $81
After 3 years $173 $252
After 5 years $302 $439
After 10 years $677 $978
Select Fixed Income Fund:
Annual Fund Operating Expenses (expenses that are deducted from Fund assets)
Total Fund
Management 12b-1 Other Operating
Fees Fees Expenses Expenses++
Institutional 0.50% 0.00% 0.13% 0.63%
Institutional Service 0.50% 0.25% 0.14% 0.89%
++ Actual for the fiscal period ended 9/30/98.
Including current fee waivers and expense reimbursements, total operating
expenses for the Institutional shares would be 0.52% and Institutional Service
shares would be 0.77%.
Example of Fund Expenses
Institutional Institutional Service
After 1 year $64 $91
After 3 years $202 $284
After 5 years $351 $493
After 10 years $785 $1,096
Select Income Plus Fund:
Annual Fund Operating Expenses (expenses that are deducted from Fund assets)
Total Fund
Management 12b-1 Other Operating
Fees Fees Expenses Expenses++
Institutional 0.50% 0.00% 0.11% 0.61%
Institutional Service 0.50% 0.25% 0.11% 0.86%
++Restated for the fiscal period ended 9/30/98.
Including current fee waivers and expense reimbursements, total operating
expenses for the Institutional shares would be 0.51% and Institutional Service
shares would be 0.76%.
Example of Fund Expenses
Institutional Institutional Service
After 1 year $62 $88
After 3 years $195 $274
After 5 years $340 $477
After 10 years $761 $1,061
Select Intermediate Term Municipal Bond Fund:
Annual Fund Operating Expenses (expenses that are deducted from Fund assets)
Total Fund
Management 12b-1 Other Operating
Fees Fees Expenses Expenses++
Institutional 0.60% 0.00% 0.12% 0.72%
Institutional Service 0.60% 0.25% 0.12% 0.97%
++Restated for the fiscal period ended 9/30/98.
Including current fee waivers and expense reimbursements, total operating
expenses for the Institutional shares would be 0.62% and Institutional Service
shares would be 0.87%.
Example of Fund Expenses
Institutional Institutional Service
After 1 year $74 $99
After 3 years $230 $309
After 5 years $401 $420
After 10 years $1,000 $1,190
Select International Bond Fund:
Annual Fund Operating Expenses (expenses that are deducted from Fund assets)
Total Fund
Management 12b-1 Other Operating
Fees Fees Expenses Expenses++
Institutional 0.60% 0.00% 0.62% 1.22%
Institutional Service 0.60% 0.25% 0.61% 1.46%
++ Actual for the fiscal period ended 9/30/98.
Including current fee waivers and expense reimbursements, total operating
expenses for the Institutional shares would be 0.76% and Institutional Service
shares would be 1.00%.
Example of Fund Expenses
Institutional Institutional Service
After 1 year $124 $149
After 3 years $387 $462
After 5 years $670 $797
After 10 years $1,476 $1,746
March 15, 1999
