MULTIPLE CLASS PLAN
FOR THE
EVERGREEN FUNDS
As amended September 22, 2000
Each Fund in the Evergreen group of mutual funds currently offers one or more of
the following fourteen classes of shares with the following class provisions and
current offering and exchange characteristics. Additional classes of shares
(such classes being shares having characteristics referred to in Rule 18f-3
under the Investment Company Act of 1940, as amended (the "1940 Act")), when
created, may have characteristics that differ from those described.
I. CLASSES
A. Class A Shares
1. Class A Shares may adopt a distribution plan pursuant
to Rule 12b-1 under the 1940 Act (a "12b-1
Distribution Plan") and/or a shareholder services
plan. The plans provide for annual payments of
distribution and/or shareholder service fees that are
based on a percentage of average daily net assets of
Class A Shares, as described in a Fund's current
prospectus.
2. Class A Shares are offered with a front-end sales
load, except that purchases of Class A Shares made
under certain circumstances are not subject to the
front-end load but may be subject to a contingent
deferred sales charge ("CDSC"), as described in a
Fund's current prospectus.
3. Shareholders may exchange Class A Shares of a Fund
for Class A Shares of any other fund, in accordance
with any limitations as described in a Fund's current
prospectus, to the extent they are offered by a Fund.
B. Class B Shares
1. Class B Shares may adopt a 12b-1 Distribution Plan
and/or a shareholder services plan. The plans provide
for annual payments of distribution and/or sharehol-
der services fees that are based on a percentage of
average daily net assets of Class B Shares, as
described in a Fund's current prospectus.
2. Class B Shares are offered at net asset value without
a front-end sales load, but may be subject to a CDSC
as described in a Fund's current prospectus.
3. Class B Shares automatically convert to Class A
Shares without a sales load or exchange fee after
designated periods.
4. Shareholders may exchange Class B Shares of a Fund
for Class B Shares of any other fund, in accordance
with any limitations as described in a Fund's current
prospectus, to the extent they are offered by a Fund.
C. Class C Shares
1. Class C Shares may adopt a 12b-1 Distribution Plan
and/or a shareholder services plan. The plans provide
for annual payments of distribution and/or sharehold-
er services fees that are based on a percentage of
average daily net assets of Class C Shares, as
described in a Fund's current prospectus.
2. Class C Shares are offered at net asset value without
a front-end sales load, but may be subject to a CDSC,
as described in a Fund's current prospectus.
3. Shareholders may exchange Class C Shares of a Fund
for Class C Shares of any other fund, in accordance
with any limitations as described in a Fund's current
prospectus, to the extent they are offered by a Fund.
D. Class J Shares
1. Class J Shares may adopt a 12b-1 Distribution Plan
and/or a shareholder services plan. The plans provide
for annual payments of distribution and/or
shareholder service fees that are based on a
percentage of average daily net assets of Class J
Shares, as described in a Fund's current prospectus.
2. Class J Shares are offered with a front-end sales
load, except that purchases of Class J Shares made
under certain circumstances are not subject to the
front-end load or may be subject to a CDSC, as
described in a Fund's current prospectus.
3. Shareholders may exchange Class J Shares of a Fund
for Class J Shares, in accordance with any
limitations as described in a Fund's current
prospectus, to the extent they are offered by a Fund.
E. Class S Shares
1. Class S Shares may adopt a 12b-1Distribution Plan
and/or a shareholder services plan. The plans provide
for annual payments of distribution and/or
shareholder service fees that are based on a
percentage of average daily net assets of Class S
Shares, as described in a Fund's current prospectus.
2. Class S Shares are offered at net asset value without
a front-end sales load, but may be subject to a CDSC
as described in a Fund's current prospectus.
3. Shareholders may exchange Class S Shares of a Fund
for Class S Shares of any other fund, in accordance
with any limitations as described in a Fund's current
prospectus, to the extent they are offered by a Fund.
F. Class Y Shares
1. Class Y Shares have no distribution or shareholder
services plans.
2. Class Y Shares are offered at net asset value without
a front-end sales load or CDSC.
3. Shareholders may exchange Class Y Shares of a Fund
for Class Y Shares of any other fund, in accordance
with any limitations as described in a Fund's current
prospectus, to the extent they are offered by a Fund.
G. Institutional Service Shares
1. Institutional Service Shares may adopt a 12b-1
Distribution Plan and/or shareholder services plan.
The plans provide for annual payments of distribution
and/or shareholder services fees that are based on a
percentage of average daily net assets of
Institutional Service Shares, as described in a
Fund's current prospectus.
2. Institutional Service Shares are offered at net asset
value without a front-end sales load or CDSC.
3. Shareholders may exchange Institutional Service
Shares of a Fund for Institutional Service Shares of
any other fund, in accordance with any limitations as
described in a Fund's current prospectus, to the
extent they are offered by a Fund.
H. Institutional Shares
1. Institutional Shares have no distribution or share-
holder services plans.
2. Institutional Shares are offered at net asset value
without a front-end sales load or CDSC.
3. Shareholders may exchange Institutional Shares of a
Fund for Institutional Shares of any other fund, in
accordance with any limitations as described in a
Fund's current prospectus, to the extent they are
offered by a Fund.
I. Charitable Shares
1. Charitable Shares have no distribution or shareholder
services plans.
2. Charitable Shares are offered at net asset value
without a front-end sales load or CDSC.
3. Shareholders may exchange Charitable Shares of a Fund
for Charitable Shares of any other fund, in
accordance with any limitations as described in a
Fund's current prospectus, to the extent they are
offered by a Fund.
J. Retail Shares
1. Retail Shares may adopt a 12b-1 Distribution Plan
and/or a shareholder services plan. The plans provide
for annual payments of distribution and/or share-
holder services fees that are based on a percentage
of average daily net assets of Retail Shares, as
described in a Fund's current prospectus.
2. Retail Shares are offered at net asset value without
a front-end sales load, but may be subject to a CDSC
as described in a Fund's current prospectus.
3. Shareholders may exchange Retail Shares of a Fund for
Retail Shares of any other fund, in accordance with
any limitations as described in a Fund's current
prospectus, to the extent they are offered by a Fund.
K. Administrative Shares
1. Administrative Shares may adopt a 12b-1 Distribution
Plan and/or shareholder services plan. The plans
provide for annual payments of distribution and/or
shareholder services fees that are based on a
percentage of average daily net assets of
Administrative Shares, as described in a Fund's
current prospectus.
2. Administrative Shares are offered at net asset value
without a front-end sales load or CDSC.
3. Shareholders may exchange Administrative Shares of a
Fund for Administrative Shares of any other fund, in
accordance with any limitations as described in a
Fund's current prospectus, to the extent they are
offered by a Fund.
L. Investor Shares
1. Investor Shares may adopt a 12b-1 Distribution Plan
and/or shareholder services plan. The plans provide
for annual payments of distribution and/or
shareholder services fees that are based on a
percentage of average daily net assets of Investor
Shares, as described in a Fund's current prospectus.
2. Investor Shares are offered at net asset value
without a front-end sales load or CDSC.
3. Shareholders may exchange Investor Shares of a Fund
for Investor Shares of any other fund, in accordance
with any limitations as described in a Fund's current
prospectus, to the extent they are offered by a Fund.
M. Participant Shares
1. Participant Shares may adopt a 12b-1 Distribution
Plan and/or shareholder services plan. The plans
provide for annual payments of distribution and/or
shareholder services fees that are based on a
percentage of average daily net assets of Participant
Shares, as described in a Fund's current prospectus.
2. Participant Shares are offered at net asset value
without a front-end sales load or CDSC.
3. Shareholders may exchange Participant Shares of a
Fund for Participant Shares of any other fund, in
accordance with any limitations as described in a
Fund's current prospectus, to the extent they are
offered by a Fund.
N. Reserve Shares
1. Reserve Shares may adopt a 12b-1 Distribution Plan
and/or shareholder services plan. The plans provide
for annual payments of distribution and/or
shareholder services fees that are based on a
percentage of average daily net assets of Reserve
Shares, as described in a Fund's current prospectus.
2. Reserve Shares are offered at net asset value without
a front-end sales load or CDSC.
3. Shareholders may exchange Reserve Shares of a Fund
for Reserve Shares of any other fund, in accordance
with any limitations as described in a Fund's current
prospectus, to the extent they are offered by a Fund.
II. CLASS EXPENSES
Each class bears the expenses of its 12b-1 Distribution Plan and/or
shareholder services plan. Class J Shares shall also bear that portion
of the Transfer Agency fees and other expenses allowed by Rule 18f-3
that are attributable to them due to distribution outside of the United
States. There currently are no other class specific expenses.
III. EXPENSE ALLOCATION METHOD
All income, realized and unrealized capital gains and losses and
expenses not assigned to a class will be allocated to each class based
on the relative net asset value of each class.
IV. VOTING RIGHTS
A. Each class will have exclusive voting rights on any matter
submitted to its shareholders that relates solely to its class
arrangement.
B. Each class will have separate voting rights on any matter
submitted to shareholders where the interests of one class
differ from the interests of any other class.
C. In all other respects, each class has the same rights and
obligations as each other class.
V. EXPENSE WAIVERS OR REIMBURSEMENTS
Any expense waivers or reimbursements will be in compliance with Rule
18f-3 issued under the 1940 Act.
