SUPPLEMENT TO PROSPECTUS OF
EVERGREEN SHORT AND INTERMEDIATE TERM BOND FUNDS
I. Evergreen Short-Intermediate Bond Fund (the "Fund")
Effective March 13, 2000, the Fund will change its name to Evergreen
Short-Duration Income Fund.
Also effective on the same date, the fifth paragraph under the section
entitled "Investment Strategy" in the Fund's prospectus is restated in its
entirety as follows:
"The Fund's final maturity for the securities it holds may range up
to thirty years. The duration of these securities will not exceed
ten years. The Fund intends to maintain a dollar-weighted average
maturity of seven years or less and a dollar-weighted average
duration of five years or less."
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II. Evergreen Capital Preservation and Income Fund
Proposed Fund Reorganization
On March 24, 2000 the Board of Trustees of the Evergreen Funds approved
a proposal to reorganize Evergreen Capital Preservation and Income Fund
("Capital Preservation") into Evergreen Select Adjustable Rate Fund ("Select
Adjustable Rate"). If the shareholders of Capital Preservation approve the
proposal, all of the assets of Capital Preservation will be transferred to
Select Adjustable Rate and shareholders of Capital Preservation will receive
shares of Select Adjustable Rate in exchange for their shares. Shareholders of
Capital Preservation as of April 28, 2000, are scheduled to vote on the proposal
at a special meeting of shareholders to be held on July 14, 2000. If approved,
the reorganization is proposed to take place on July 21, 2000. Shareholders of
Capital Preservation will be mailed information detailing the proposal on or
about May 26, 2000.
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April 3, 2000
