SUPPLEMENT TO THE PROSPECTUS OF
EVERGREEN SELECT FIXED INCOME FUNDS
I. Evergreen Select High Yield Bond Fund (the "Fund")
The section in the prospectus entitled "Investment Strategy" on the
fund-specific page for the Fund is revised to reflect that the bonds that the
Fund intends to invest in are U.S. dollar-denominated bonds and that the Fund
may also invest up to 15% of its assets in Yankee bonds, which are U.S.
dollar-denominated bonds issued by foreign banks and corporations.
Under the section for the Fund entitled "Risk Factors," the following
disclosure should be added:
"In addition, the Fund's investment in Yankee bonds may expose it to
certain unique risks of investing in non-U.S. securities. For example,
political turmoil and economic instability in the countries issuing the
Yankee bonds in which the Fund invests could adversely affect the value
of your investment. Certain non-U.S. countries have less developed and
less regulated securities markets and accounting systems than the U.S.
This may make it harder to get accurate information about a security or
company, and increase the likelihood that an investment will not
perform as well as expected."
March 10, 2000 552986 3/00
