SUPPLEMENT TO THE PROSPECTUSES
OF
EVERGREEN SOUTHERN STATE MUNICIPAL BOND FUNDS
I. Evergreen Florida Municipal Bond Fund, Evergreen Georgia Municipal Bond
Fund, Evergreen North Carolina Municipal Bond Fund, Evergreen South
Carolina Municipal Bond Fund, Evergreen Virginia Municipal Bond Fund
(each a "Fund")
The following disclosure is added to the "INVESTMENT STRATEGY" section of
each Fund:
The Fund may invest up to 20% of its assets in bonds that are below
investment grade, or if not rated, are determined to be of comparable
quality to obligations so rated as determined by a nationally recognized
statistical ratings organization or by the Fund's investment advisor. The
Fund will not invest in bonds rated below B.
II. Evergreen Maryland Municipal Bond Fund (the "Fund")
Effective March 15, 1999, the following disclosure is added to the Fund's
"INVESTMENT STRATEGY":
The Fund may invest up to 20% of its assets in bonds that are below
investment grade, or if not rated, are determined to be of comparable
quality to obligations so rated as determined by a nationally recognized
statistical ratings organization or by the Fund's investment advisor. The
Fund will not invest in bonds rated below B.
The following disclosure is added to the "FUND FACTS" of the Fund's
Class A, Class B and Class C shares' prospectus:
Classes of Shares Offered in this Prospectus: Class A, Class B and Class C
The following disclosure is added to the performance and expense
information for the Fund:
Average Annual Total Return (for the period ended 12/31/97)
Inception
Date 1 year 5 year 10 year Since Inception
Class C* 12/23/98 N/A N/A N/A N/A
*Class C shares had not begun investment operations as of 12/31/97.
Fees You Pay Directly
Shareholder Transaction Expenses Class C
Maximum sales charge imposed on None
Purchases (as a % of offering price)
Maximum deferred sales charge 1.00%
(as a % of either the redemption amount
or initial investment, whichever is lower)
Fees the Fund Pays Directly (and You Pay Indirectly)
Annual Fund Operating Expenses (as a % of net asset value)*
Management 12b-1 Other Total Fund
Fees Fees Expenses Operating Expenses**
Class C 0.50% 1.00% 0.51% 2.01%
*From time to time, the Fund's investment advisor may, at its discretion,
reduce or waive its fees or reimburse a Fund for certain of its expenses in
order to reduce expense ratios. The Fund's investment advisor may cease
these reimbursements at any time. The annual operating expenses do not
reflect fee waivers and expense reimbursements. Including current fee
waivers and expense reimbursements, total operating expenses for Class C
would be 1.51%.
**Estimated for the fiscal year ending 8/31/99.
Example of Fund Expenses
Assuming Redemption at Assuming
End of Period No Redemption
Class C Class C
After 1 year $304 $204
After 3 years $630 $630
After 5 years $1,083 $1,083
After 10 years $2,338 $2,338
March 19, 1999
