STATEMENT OF ADDITIONAL INFORMATION DATED SEPTEMBER 25, 1995
Acquisition of the Assets of
CASH MANAGEMENT FUND
OF
THE FFB LEXICON FUND
2 Oliver Street
Boston, Massachusetts 02109
1-800-833-8974
By and in Exchange for Shares of
EVERGREEN MONEY MARKET FUND
2500 Westchester Avenue
Purchase, NY 10577
1-800-807-2940
This Statement of Additional Information, relating specifically to the
proposed transfer of the assets of the Cash Management Fund, a series of The FFB
Lexicon Fund, in exchange for Class Y shares of Evergreen Money Market Fund and
the assumption by Evergreen Money Market Fund of certain identified liabilities
of the Cash Management Fund, is not a prospectus. A Prospectus/Proxy Statement
dated September 25, 1995 relating to the above-referenced matter may be obtained
from Evergreen Money Market Fund, 2500 Westchester Avenue, Purchase, New York
10577 or by calling toll-free 1-800-807-2940. This Statement of Additional
Information relates to and should be read in conjunction with such
Prospectus/Proxy Statement.
This Statement of Additional Information incorporates by reference the
following documents, a copy of each of which accompanies this Statement of
Additional Information:
1. The Prospectus of the Evergreen Money Market Fund dated
July 7, 1995.
2. The Statement of Additional Information of the
Evergreen Money Market Fund dated July 7, 1995.
3. The Annual Report of the Evergreen Money Market Trust
(now known as Evergreen Money Market Fund) dated August
31, 1994.
4. The Semi-Annual Report of the Evergreen Money Market
Trust (now known as Evergreen Money Market Fund) dated
February 28, 1995.
<PAGE>
5. The Prospectus of the Cash Management Fund dated
December 30, 1994.
6. The Statement of Additional Information of the Cash
Management Fund dated December 30, 1994.
7. The Annual Report of the Cash Management Fund dated
August 31, 1994.
8. The Semi-Annual Report of the Cash Management Fund
dated February 28, 1995.
The following pro forma financial information relates to the Cash
Management Fund and the Evergreen Money Market Fund:
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
EVERGREEN FFB FUNDS TRUST LEXICON CASH
MONEY MARKET FUND CASH MANAGEMENT FUND MANAGEMENT FUND
JUNE 30,1995 JUNE 30,1995 JUNE 30,1995
Principal Principal Principal
Security Description* Amount Value Amount Value Amount Value
<S> <C> <C> <C> <C> <C> <C>
Bankers Accceptances 3.2%
Bank of America 6.16% due 9/18/95 $1,000,000 $986,824
Bank of America 6.16% due 9/20/95 3,000,000 2,959,447
Bank of America 6.16% due 9/25/95 2,000,000 1,971,253
Bank of Montreal 6.12% due 8/15/95 5,000,000 4,963,450
Bank of Nova Scotia 6.57% due 7/10/95 $5,000,000 $4,992,125
Bank of Tokyo, Ltd. 6.18% due 9/22/95 5,000,000 4,930,475
Mitsubishi Bank Ltd 5.94% due 7/7/95 5,150,000 5,146,601
Mitsubishi Bank Ltd 6.0% due 7/20/95 300,000 299,150
Mitsubishi Bank Ltd 6.04% due 8/28/95 1,100,000 1,089,665
Mitsubishi Bank Ltd 6.05% due 10/16/95 1,500,000 1,473,488
Mitsubishi Bank Ltd 6.05% due 9/22/95 1,000,000 986,388
PNC Bank 6.22% due 11/16/95 10,000,000 10,004,834
Societe Generale 6.0% due 6/12/95 10,000,000 10,000,000
Societe Generale 6.07% due 7/31/95 4,000,000 3,981,116
Total Bankers' Acceptances 38,787,857 14,996,959 $0 $0
Certificates of Deposit 1.5%
First Bk Sioux Falls SD 6.07% 7/11/95 15,000,000 15,000,000
First Natl Bk Boston 6.33% 9/27/95 10,000,000 9,999,500
Total Certificates of Deposit 24,999,500 0 0 0 0
Certificates of Deposit - Eurodollar 4.1%
Abbey National Bank 6.1% due 7/19/95 5,000,000 4,999,988
Bank of Nova Scotia 6.21% due 7/13/95 15,000,000 15,000,069
Duetsche Bank 6.65% due 7/17/95 13,000,000 13,000,583
Duetsche Bank 6.43% due 7/24/95 10,000,000 10,002,317
Duetsche Bank 6.38% due 7/24/95 5,000,000 5,001,299
Morgan Guaranty 6.70% due 7/31/95 10,000,000 10,000,022
Nordeutsche Bandesbank 6.60% due 7/31/95 10,000,000 10,000,737
Total CD-Eurodollar $0 68,005,015 0 0
Certificates of Deposit - Yankee 8.1%
Bank of Montreal 5.98% 10/5/95 10,000,000 9,997,360
Bank of Montreal Yankee CD 5.80% due 10/5/95 2,000,000 1,999,472
Bank of Nova Scotia 6.06% due 7/10/95 5,000,000 5,000,049
Bank of Nova Scotia 6.06% due 8/7/95 10,000,000 10,000,204
Banque National Paris 6.19% due 8/17/95 10,000,000 10,000,997
Canadian Imperial Bank of Commerce 6.13% due 8/15/95 10,000,000 10,000,246
Canadian Imperial Bank of Commerce 5.89% due 9/6/95 10,000,000 10,000,000
Commerzbank 6.36% due 8/7/95 15,000,000 15,002,413
Commerzbank NY Yankee CD 5.78% due 9/6/95 2,000,000 1,999,810
Paribas Finance Inc. 6.11% due 8/3/95 10,000,000 10,000,487
Rabobank Nederland 6.35% due 8/21/95 10,000,000 10,001,896
Sanwa Bank, Ltd. 6.12% due 8/10/95 10,000,000 10,000,219
Sanwa Bank, Ltd. 6.08% due 11/30/95 10,000,000 10,001,229
Societe Generale 6.06% due 7/10/95 10,000,000 10,000,074
Societe Generale 6.05% due 8/10/95 10,000,000 10,000,657
Total CD-Yankee 0 130,005,831 4,000,000 3,999,282
Commercial Paper 67.6%
Abbey National 6% 7/31/95 3,000,000 2,985,000
ABN AMRO Canada 6.06% due 8/31/95 10,000,000 9,900,197
ABN AMRO Canada 5.97% due 9/14/95 20,000,000 19,757,917
Allianz of America Finance 5.9% 7/7/95 3,900,000 3,897,443
Allianz of America Finance 6.03% 10/5/95 20,000,000 19,669,200
Allianz of America Finance 6.05% 10/5/95 1,200,000 1,181,043
American Express Credit 5.93% 9/12/95 2,000,000 1,975,951
American Express Credit Corp. 6.29% 7/20/95 15,000,000 14,951,788
American General Finance 5.87% 9/14/95 3,000,000 2,963,313
American Home Prod Corp 5.94% 9/7/95 15,000,000 14,857,576
American Home Prods Corp 5.98% 7/26/95 10,000,000 9,961,794
American Honda Finance 6.06% 8/1/95 7,250,000 7,212,167
American Honda Finance 6.13% 7/24/95 3,400,000 3,387,842
American Honda Finance 6.16% 7/24/95 5,000,000 4,980,322
American Honda Finance 6.18% 9/22/95 3,000,000 2,958,285
American Honda Finance 6.18% 9/26/95 3,600,000 3,547,470
ANZ Delaware 6.01% due 8/1/95 3,000,000 2,984,474
ANZ Delaware Inc. 6.1% due 7/26/95 10,000,000 9,958,681
Apreco Inc. 6.01% due 9/22/95 10,000,000 9,865,586
Arena Funding Corporation 5.97% 8/25/95 1,370,000 1,357,959
Asset Securitization Coop. Corp. 6.15% due 7/7/95 10,000,000 9,990,017
Asset Securitization Coop. Corp. 6.08% 8/23/95 10,000,000 9,912,697
Asset Securitization Coop. Corp. 5.94% due 9/19/95 10,000,000 9,871,556
Associates Corporation 5.93% 7/25/95 3,000,000 2,988,140
AT&T Corporation 5.95% 7/10/95 1,500,000 1,497,769
AT&T Corporation 5.98% 7/18/95 3,000,000 2,991,528
B.I. Funding Inc 6% 8/21/95 8,000,000 7,934,667
Banco Espirito Santo N.A. 6.12% due 7/18/95 5,000,000 4,985,904
Bankers Trust 5.93% due 8/10/95 3,000,000 2,980,233
Bankers Trust NY Corp 5.95 %11/6/95 5,000,000 4,894,222
Bankers Trust NY Corp 6.1% 10/11/95 15,000,000 14,740,750
Bankers Trust NY Corp. 6.10% due 8/9/95 10,000,000 9,935,758
Barclays Bank 6.23% due 7/5/95 15,000,000 14,989,916
Barnett Bks Inc 5.97% 7/11/95 15,000,000 14,975,125
Bayerische Landesbank Girozentrale 5.75% 9/28/95 2,500,000 2,464,462
BMW US Cap Corp 6.14% 9/25/95 5,500,000 5,421,203
BMW US Capital Corp 5.97% 8/2/95 750,000 746,269
BMW US Capital Corp 6.15% 9/22/95 800,000 788,930
BMW US Capital Corp 6.16% 9/27/95 3,100,000 3,054,382
Broadway Capital Corp 5.95% 9/1/95 5,102,000 5,049,719
BTR Dunlop 5.95% 7/10/95 1,740,000 1,737,412
BTR Dunlop Finance Inc 6.15% 9/13/95 10,000,000 9,877,000
BTR Dunlop Finance Inc. 6.10% due 7/14/95 5,000,000 4,989,239
BTR Dunlop Finance Inc. 6.43% due 8/21/95 20,000,000 19,825,750
Calcot Ltd 6.07% 7/28/95 5,000,000 4,978,924
Canadian Imperial Bank 6.05% due 9/1/95 10,000,000 9,898,733
Cargill Incorporated 6.05% 7/14/95 2,565,000 2,559,396
Ciesco 6% 8/2/95 3,000,000 2,984,000
Ciesco LP Corp. 6.08% due 7/12/95 10,000,000 9,981,819
Ciesco LP Corp. 6.08% due 8/16/95 5,000,000 4,962,306
CIT Group Holdings 6.06% 7/11/95 2,000,000 1,996,633
Coca Cola Company 5.75% 9/14/95 2,000,000 1,976,042
Compagnie Bancaire 5.92% 8/11/95 3,000,000 2,979,773
Compagnie Bancaire USA Fdg 6.28% due7/6/95 15,000,000 14,987,292
Compagnie Bancaire USA Fdg 6.28% due 8/11/95 10,000,000 9,932,236
Compagnie Bancaire USA Fdg 6.0% due 9/26/95 5,000,000 4,929,554
Cooperative Assoc of Tractor 6% 8/18/95 1,590,000 1,577,810
Cooperative Assoc of Tractor 6% 9/8/95 1,800,000 1,779,900
Corporate Asset Funding 6% 7/20/95 3,000,000 2,990,500
Credit Suisse 5.98% 11/2/95 3,000,000 2,939,203
CS First Boston 5.9% 7/21/95 10,000,000 9,967,222
CS First Boston 5.92% 7/27/95 3,000,000 2,987,173
CS First Boston Corp. 6.06% due 7/21/95 5,000,000 4,983,472
Daewoo International (America) 6.0% 7/12/95 3,600,000 3,594,600
Dayton Hudson Corp 6% 7/31/95 10,300,000 10,251,933
Dayton Hudson Corp 6% 8/4/95 2,500,000 2,486,667
Dean Witter Discover & Co. 6.09% due 7/11/95 10,000,000 9,983,667
Diamond Asset FDG Corp 6.18% 8/15/95 4,278,000 4,244,952
Diamond AssetFDG Corp 5.93% 8/25/95 5,000,000 4,954,701
DIC Americas Inc 5.9% 8/4/95 10,000,000 9,944,278
Dynamic Funding Cop 5.97% 8/3/95 10,000,000 9,948,592
Dynamic Funding Corp 5.9% 10/2/95 10,406,000 10,247,395
Dynamic Funding Corp 5.95% 7/25/95 5,000,000 4,980,167
Dynamic Funding Corp 6.05% 7/31/95 10,000,000 9,949,583
E.I. Dupont De Nemours 6% 7/6/95 3,000,000 2,997,500
Eksportfinans 5.88% 9/8/95 3,000,000 2,966,190
Falcon Asset Securitiztn 5.95% due 8/10/95 20,000,000 19,867,778
Finova Cap Corp 6.05% due 9/22/95 3,200,000 3,156,440
Finova Cap Corp 6.07% due 8/11/95 7,000,000 6,953,969
Ford Motor Credit 5.72% due10/27/95 2,000,000 1,962,502
Ford Motor Credit Co. 6.10% due 7/21/95 10,000,000 9,966,889
Ford Mtr Co 5.9% due 8/28/95 20,000,000 19,809,889
General Electric Capital Services 5.85% due 8/24/95 3,000,000 2,973,675
General Electric Company 6.69% due 7/25/95 15,000,000 14,936,000
General Electric Company 6.05% due 8/18/95 10,000,000 9,921,200
General Motors Accep Corp 5.94% due9/20/95 10,000,000 9,866,350
Golden Managers Acceptance Cor 5.98% due7/26/95 10,000,000 9,961,794
Golden Managers Acceptance Cor 6% due 7/20/95 830,000 827,787
Golden Peanut Co 6.12% due 7/3/95 3,000,000 3,000,000
Goldman Sachs 5.75% due10/17/95 3,000,000 2,948,250
Goldman Sachs Co. 6.04% due 9/11/95 10,000,000 9,882,400
Heinz H. J. & Co. 6.07% 7/13/95 5,000,000 4,990,083
Hercules Inc. 5.86% 8/22/95 1,500,000 1,487,792
Hewlett Packard Company 5.87% 8/22/95 2,050,000 2,032,618
Hosekana Micron Intl Inc 5.98% 7/14/95 10,000,000 9,978,406
Hyundai Motor Finance Co 6.16% 9/25/95 3,700,000 3,646,819
International Lease Fin Corp 6.18% due 9/25/95 3,600,000 3,548,088
J.P. Morgan & Co. 6.03% due 8/30/95 10,000,000 9,902,333
Kellogg Incorporated 5.93% 7/31/95 1,300,000 1,293,576
Konica Finance USA Corp 6.0% due 7/17/95 800,000 798,133
Mass Coll Pharmacy Allied Hlth 5.93% 8/8/95 2,100,000 2,087,547
Mass Coll Pharmacy Allied Hlth 5.98% 7/7/95 1,600,000 1,598,937
Mc Kenna Triangle National Corp 5.93% 7/7/95 10,000,000 9,990,083
Merrill Lynch & Co 6.05% 7/14/95 7,000,000 6,984,707
Merrill Lynch & Co. 6.04% due 8/24/95 10,000,000 9,911,500
Merrill Lynch & Co. 6.07% due 8/29/95 5,000,000 4,951,653
Merrill Lynch & Co. 5.97% due 7/27/95 10,000,000 9,956,883
Merrill Lynch Co Inc. 6.15% due 9/29/95 2,900,000 2,856,403
Metlife Funding 5.9% 8/10/95 2,000,000 1,986,889
Metrocrest Hosp Auth 6.1216% 8/1/95 6,250,000 6,217,054
Michiman America Inc 5.97% 7/10/95 10,000,000 9,985,073
Morgan,J.P. Co Inc 6.2% 5/13/96 5,000,000 5,000,000
Newell Co. 6% 8/31/95 10,000,000 9,901,667
Northwestern University 5.93% 8/15/95 3,000,000 2,978,751
Nynex 6.06% 9/25/95 10,000,000 9,855,233
One Embarcadero CT Venture 5.95% 8/16/95 11,317,000 11,230,959
Ord Finance 6.0% 7/27/95 2,500,000 2,490,000
Orix America 5.92% due 7/6/95 10,000,000 9,991,778
Orix America 5.97% due 7/6/95 10,000,000 9,991,708
Penex Cap 5.9% due 9/3/95 15,000,000 14,837,750
Pitney Bowes 5.67% due 12/1/95 2,000,000 1,951,805
Prefco 5.95% due 7/10/95 2,000,000 1,997,025
Proctor & Gamble 5.75% 9/19/95 1,000,000 987,222
Province of British Columbia 6.15% 7/7/95 1,250,000 1,248,719
Prudential Finance Jersey LTD 5.95% 8/14/95 5,000,000 4,963,639
Prudential Finance Jersey LTD 5.95% 8/8/95 10,000,000 9,937,194
Prudential Funding 5.75% 9/27/95 2,000,000 1,971,889
Ranger Funding 5.97% 7/10/95 13,000,000 12,980,598
Rexam 5.9% 9/6/95 25,000,000 24,725,486
Riverwood FDG Corp. 6.07% due 7/13/95 6,000,000 5,988,100
Riverwoods Fndg Corp 5.95% 7/18/95 5,000,000 4,985,951
Royal Bank of Canada 6.06% 11/30/95 1,000,000 974,413
Seiko Corp of America 6.1% 10/17/95 10,000,000 9,820,389
Sharp Electronics 6.55% 7/14/95 5,000,000 4,928,174
Sherwood Med Co 5.95% 9/5/95 10,000,000 9,890,917
Smith Barney Inc. 6.08% due 8/9/95 5,000,000 4,967,771
Smithkline Beecham Corp 6.02% 8/31/95 4,200,000 4,158,562
Societe Generale New York 5.85% 8/25/95 20,000,000 19,821,250
Southland Corp 5.95% 8/8/95 9,000,000 8,943,475
SRD Finance 5.98% 7/27/95 20,000,000 19,913,622
SRD Finance 6.05% 7/27/96 10,000,000 9,956,306
Stanley Works 5.96% 7/26/95 10,000,000 9,961,922
STR Dunlop Finance Inc 5.93% 8/17/95 10,000,000 9,922,581
STR Dunlop Finance Inc. 6.15% 9/13/95 10,000,000 9,873,583
Strategic Asset Funding Corp. 5.99% 8/31/95 10,000,000 9,901,831
Sunkyong America Inc 5.96% 8/9/95 6,303,000 6,264,391
Svenska Handelbanken Inc. 6.05% due 9/1/95 5,000,000 4,949,367
Svenska Handelsbanken 6.12% 9/29/95 2,000,000 1,970,080
Svenska Handelsbanken 5.95% 8/17/95 2,000,000 1,984,464
Svenska Handelsbanken 6.05% 9/26/95 1,000,000 985,715
Svenska Handelsbanken 6.07% 10/16/95 2,100,000 2,062,821
Svenska Handelsbanken Inc 6.13% 9/5/95 7,500,000 7,415,713
Svenska Handelssanken Inc 5.95% 7/31/95 10,000,000 9,950,417
Texas Agricultural Fin Auth 6.05% 7/31/95 7,000,000 6,967,061
Three Embarcadero Center 6.0% 7/7/95 1,000,000 999,333
Toronto Dominion 5.98% 7/24/95 3,000,000 2,988,538
Toshiba America 5.88% 11/7/95 10,000,000 9,789,300
Toshiba America 6.02% 7/28/95 10,000,000 9,954,850
Toshiba America 6.18% 9/11/95 9,000,000 8,891,850
Toyota Mtr Cr Co 6.17% 12/29/95 5,000,000 4,846,607
Toyota Mtr Cp Co 6.15% 12/27/95 5,000,000 4,847,104
Transamerica Finance Group Inc 6.05% due 10/20/95 5,000,000 4,908,410 2,000,000 1,962,692
UBFC Inc. 5.97% 8/8/95 10,000,000 9,940,300
Unilever Cap Corp. 5.98% due 9/22/95 10,000,000 9,866,278
Whirlpool Corp 6% 7/28/95 1,400,000 1,394,167
Total Commercial Paper 727,070,672 318,827,659 79,269,766
Corporate Bond/Short Term 2.1%
Anheuser Busch Cos Inc 8.75% 7/15/95 3,000,000 3,002,676
Central Fid BK VA BK MT 4.785% 2/15/96 13,820,000 13,707,094
Hanson Overseas 5.5% 1/15/96 3,000,000 2,970,983
Lehman Brothers Hldgs Inc. 7.68% 2/12/96 8,000,000 8,035,316
Merrill Lynch 5.01% due 8/23/94 5,000,000 5,000,000
Super Value Store 5.075 11/15/95 3,000,000 2,980,952
Total Corporate Bond/Short Term 30,697,021 0 5,000,000
Medium Term Notes 2.4%
Merrill Lynch & Company 6.34% due 8/23/95 25,000,000 25,000,000
Society National Bank Cleveland 6.29% due 3/20/96 10,000,000 9,998,231
General Motors Corp 5.95% 2/23/96 4,500,000 4,500,000
Total Medium Term Notes 4,500,000 34,998,231 0
Mutual Fund Shares 0.4%
Lehman Prime Value 6,576,731 6,576,731
Total Mutual Fund Shares 6,576,731 0 0
Repurchase Agreements ** 7.8%
Donaldson, Lufkin, & Jenrette 6% dated 6/30/95, due 7/3/95 17,891,000 17,891,000
JP Morgan Securities Inc. 6.20% dated 6/30/95, due 7/3/95 30,000,000 30,000,000 3,845,411 3,845,411
Lehman Brothers 6.16% due 7/3/95 3,800,000 3,800,000
Smith Barney Securities, 6.25% dated 6/30/95, due 7/3/95 30,287,000 30,287,000
UBS, Inc. 6.25% due 7/3/95 3,822,721 3,822,721
UBS, Inc. 6.35% dated 6/30/95, due 7/3/95 40,000,000 40,000,000
Total Repurchase Agreements 17,891,000 100,287,000 11,468,132
U.S. Government Agency Obligations 0.2%
Federal Home Loan Mortgage Corporation 6.79% due 2/20/96 1,000,000 1,000,000
Federal Nat'l Mortgage Association 5.87% due 7/12/ 2,100,000 2,096,918
U.S. Treasury Bill 5.38% due 5/30/96 130,000 123,499
Total U.S. Government Agency Oligations 2,096,918 123,499 1,000,000
Variable Rate Notes 2.9%
American Honda Fin Corp Medium 6.1875% 1/26/96 5,000,000 5,000,000
Beta Finance Corp-6.3% 9/7/95 4,000,000 3,999,626
CIT Group Hldgs Inc 6.2% 9/18/95 4,000,000 3,998,862
CS First Boston Group Inc. 6.33% 8/25/95 5,000,000 5,000,000
Dean Witter Discover + Co 6.3125% 12/15/95 7,000,000 7,004,636
FCC Natl Bk Wilmington Del 5.61% 11/9/95 5,000,000 4,998,153
General Elec Cap Corp 6.32% 11/21/95 5,000,000 4,999,608
General Mtrs Accep Corp MTN 6.4% 3/1/96 5,000,000 4,999,526
Merrill Lynch + Co Inc 6.31% 2/20/96 8,000,000 8,000,514
Total Variable Rate Notes 48,000,925 0 0
Total Investments (Cost $1,668,601,998)*** 100.0% 900,620,624 667,244,194 100,737,180
Other Assets & Liabilities (0%) (344,617) (29,200) (382,596)
Total Net Assets 100.0% $900,276,007 $667,214,994 $100,354,584
</TABLE>
PRO FORMA
COMBINED
JUNE 30,1995
<TABLE>
Principal
ADJUSTMENTS Amount Value
<C> <C> <C>
1,000,000 $ 986,824
3,000,000 2,959,447
2,000,000 1,971,253
5,000,000 4,963,450
5,000,000 4,992,125
5,000,000 4,930,475
5,150,000 5,146,601
300,000 299,150
1,100,000 1,089,665
1,500,000 1,473,488
1,000,000 986,388
10,000,000 10,004,834
10,000,000 10,000,000
4,000,000 3,981,116
0 54,050,000 53,784,816
15,000,000 15,000,000
10,000,000 9,999,500
0 25,000,000 24,999,500
5,000,000 4,999,988
15,000,000 15,000,069
13,000,000 13,000,583
10,000,000 10,002,317
5,000,000 5,001,299
10,000,000 10,000,022
10,000,000 10,000,737
0 68,000,000 68,005,015
10,000,000 9,997,360
2,000,000 1,999,472
5,000,000 5,000,049
10,000,000 10,000,204
10,000,000 10,000,997
10,000,000 10,000,246
10,000,000 10,000,000
15,000,000 15,002,413
2,000,000 1,999,810
10,000,000 10,000,487
10,000,000 10,001,896
10,000,000 10,000,219
10,000,000 10,001,229
10,000,000 10,000,074
10,000,000 10,000,657
0 134,000,000 134,005,113
3,000,000 2,985,000
10,000,000 9,900,197
20,000,000 19,757,917
3,900,000 3,897,443
20,000,000 19,669,200
1,200,000 1,181,043
2,000,000 1,975,951
15,000,000 14,951,788
3,000,000 2,963,313
15,000,000 14,857,576
10,000,000 9,961,794
7,250,000 7,212,167
3,400,000 3,387,842
5,000,000 4,980,322
3,000,000 2,958,285
3,600,000 3,547,470
3,000,000 2,984,474
10,000,000 9,958,681
10,000,000 9,865,586
1,370,000 1,357,959
10,000,000 9,990,017
10,000,000 9,912,697
10,000,000 9,871,556
3,000,000 2,988,140
1,500,000 1,497,769
3,000,000 2,991,528
8,000,000 7,934,667
5,000,000 4,985,904
3,000,000 2,980,233
5,000,000 4,894,222
15,000,000 14,740,750
10,000,000 9,935,758
15,000,000 14,989,916
15,000,000 14,975,125
2,500,000 2,464,462
5,500,000 5,421,203
750,000 746,269
800,000 788,930
3,100,000 3,054,382
5,102,000 5,049,719
1,740,000 1,737,412
10,000,000 9,877,000
5,000,000 4,989,239
20,000,000 19,825,750
5,000,000 4,978,924
10,000,000 9,898,733
2,565,000 2,559,396
3,000,000 2,984,000
10,000,000 9,981,819
5,000,000 4,962,306
2,000,000 1,996,633
2,000,000 1,976,042
3,000,000 2,979,773
15,000,000 14,987,292
10,000,000 9,932,236
5,000,000 4,929,554
1,590,000 1,577,810
1,800,000 1,779,900
3,000,000 2,990,500
3,000,000 2,939,203
10,000,000 9,967,222
3,000,000 2,987,173
5,000,000 4,983,472
3,600,000 3,594,600
10,300,000 10,251,933
2,500,000 2,486,667
10,000,000 9,983,667
4,278,000 4,244,952
5,000,000 4,954,701
10,000,000 9,944,278
10,000,000 9,948,592
10,406,000 10,247,395
5,000,000 4,980,167
10,000,000 9,949,583
3,000,000 2,997,500
3,000,000 2,966,190
20,000,000 19,867,778
3,200,000 3,156,440
7,000,000 6,953,969
2,000,000 1,962,502
10,000,000 9,966,889
20,000,000 19,809,889
3,000,000 2,973,675
15,000,000 14,936,000
10,000,000 9,921,200
10,000,000 9,866,350
10,000,000 9,961,794
830,000 827,787
3,000,000 3,000,000
3,000,000 2,948,250
10,000,000 9,882,400
5,000,000 4,990,083
1,500,000 1,487,792
2,050,000 2,032,618
10,000,000 9,978,406
3,700,000 3,646,819
3,600,000 3,548,088
10,000,000 9,902,333
1,300,000 1,293,576
800,000 798,133
2,100,000 2,087,547
1,600,000 1,598,937
10,000,000 9,990,083
7,000,000 6,984,707
10,000,000 9,911,500
5,000,000 4,951,653
10,000,000 9,956,883
2,900,000 2,856,403
2,000,000 1,986,889
6,250,000 6,217,054
10,000,000 9,985,073
5,000,000 5,000,000
10,000,000 9,901,667
3,000,000 2,978,751
10,000,000 9,855,233
11,317,000 11,230,959
2,500,000 2,490,000
10,000,000 9,991,778
10,000,000 9,991,708
15,000,000 14,837,750
2,000,000 1,951,805
2,000,000 1,997,025
1,000,000 987,222
1,250,000 1,248,719
5,000,000 4,963,639
10,000,000 9,937,194
2,000,000 1,971,889
13,000,000 12,980,598
25,000,000 24,725,486
6,000,000 5,988,100
5,000,000 4,985,951
1,000,000 974,413
10,000,000 9,820,389
5,000,000 4,928,174
10,000,000 9,890,917
5,000,000 4,967,771
4,200,000 4,158,562
20,000,000 19,821,250
9,000,000 8,943,475
20,000,000 19,913,622
10,000,000 9,956,306
10,000,000 9,961,922
10,000,000 9,922,581
10,000,000 9,873,583
10,000,000 9,901,831
6,303,000 6,264,391
5,000,000 4,949,367
2,000,000 1,970,080
2,000,000 1,984,464
1,000,000 985,715
2,100,000 2,062,821
7,500,000 7,415,713
10,000,000 9,950,417
7,000,000 6,967,061
1,000,000 999,333
3,000,000 2,988,538
10,000,000 9,789,300
10,000,000 9,954,850
9,000,000 8,891,850
5,000,000 4,846,607
5,000,000 4,847,104
7,000,000 6,871,102
10,000,000 9,940,300
10,000,000 9,866,278
1,400,000 1,394,167
0 1,134,151,000 1,125,168,097
3,000,000 3,002,676
13,820,000 13,707,094
3,000,000 2,970,983
8,000,000 8,035,316
5,000,000 5,000,000
3,000,000 2,980,952
0 35,820,000 35,697,021
25,000,000 25,000,000
10,000,000 9,998,231
4,500,000 4,500,000
0 39,500,000 $39,498,231
6,576,731 6,576,731
0 6,576,731 $6,576,731
17,891,000 17,891,000
33,845,411 33,845,411
3,800,000 3,800,000
30,287,000 30,287,000
3,822,721 3,822,721
40,000,000 40,000,000
0 129,646,132 $129,646,132
1,000,000 1,000,000
2,100,000 2,096,918
130,000 123,499
0 3,230,000 3,220,417
5,000,000 5,000,000
4,000,000 3,999,626
4,000,000 3,998,862
5,000,000 5,000,000
7,000,000 7,004,636
5,000,000 4,998,153
5,000,000 4,999,608
5,000,000 4,999,526
8,000,000 8,000,514
0 48,000,000 48,000,925
0 1,677,973,863 1,668,601,998
(756,413)
$1,667,845,585
</TABLE>
* Each issue shows the rate of discount at the time of purchase for
discount issues, or the coupon for interest bearing issues.
** The repurchase agreements are fully collateralized by U.S. government
and/or agency obligations based on market prices at the date of the
portfolio.
*** Also represents cost for federal tax purposes.
(See Notes which are an integral part of the Pro-Forma Financial Statements)
<PAGE>
<TABLE>
<CAPTION>
Evergreen FFB Cash Lexicon Cash
Money Market Management Management Pro Forma
Fund Fund Fund Adjustments Combined
<S> <C> <C> <C> <C> <C>
ASSETS
Investments in securities, at amortized cost
(Cost $1,668,601,988) $900,620,624 $667,244,194 $100,737,180 $1,668,601,998
Cash 955,324 42,358 35,759 206,757 (1) 1,240,198
Interest receivable 1,457,195 3,328,967 75,713 4,861,875
Receivable for fund shares sold 76,229 0 0 76,229
Other assets 0 57,386 0 57,386
Prepaid expenses 32,761 224,148 0 (206,757)(1) 50,152
TOTAL ASSETS 903,142,133 670,897,053 100,848,652 0 1,674,887,838
LIABILITIES:
Payable for fund shares repurchased 365,707 0 0 365,707
Dividends payable 2,256,576 3,195,566 441,440 5,893,582
Accrued advisory fee 66,291 198,516 0 264,807
Accrued expenses 177,552 287,977 52,628 518,157
TOTAL LIABILITIES 2,866,126 3,682,059 494,068 0 7,042,253
NET ASSETS $ 900,276,007 $667,214,994 $100,354,584 0 $ 1,667,845,585
NET ASSETS CONSIST OF:
Paid in capital $ 900,809,087 $667,214,994 $100,352,990 $ 1,668,377,071
Accumulated net realized gain(loss) on investments (533,080) 0 1,594 (531,486)
NET ASSETS $ 900,276,007 $667,214,994 $100,354,584 0 $ 1,667,845,585
Net asset value and offering price per share:
Class A $1.00 $1.00 $1.00 $1.00
Class B $1.00 - - $1.00
Class Y $1.00 - - $1.00
Net Assets:
Class A 558,182,562 667,214,994 - 1,225,397,556
Class B 8,764,992 - - 8,764,992
Class Y 333,328,453 - 100,354,584 433,683,037
Shares outstanding:
Class A 558,178,290 667,214,994 - 1,225,393,284
Class B 8,746,986 - - 8,746,986
Class Y 333,865,811 - 100,352,990 434,218,801
</TABLE>
(See Notes which are an integral part of the Pro Forma Financial Statements)
(1)To eliminate prepaid expenses not allocable to the combined fund.
<PAGE>
<TABLE>
<CAPTION>
Evergreen Money FFB Cash Lexicon Cash
Market Fund Management Management Pro Forma
Fund Fund Adjustments Combined
<S> <C> <C> <C> <C> <C>
INVESTMENT INCOME
Interest income $28,497,633 $15,062,217 $6,355,471 $49,915,321
EXPENSES:
Investment advisory fee 2,474,385 2,082,772 466,450 972,391(1) 5,995,998
Trustees' fees 27,233 6,674 4,806 (11,480)(2) 27,233
Administrative personnel and service fees 0 866,975 198,241 (1,065,216)(1) 0
Custodian and portfolio accounting fees 128,109 119,373 0 21,124 (3) 268,606
Shareholder servicing fees 0 672,589 0 (672,589)(5) 0
Transfer and dividend disbursing agent fees 586,516 14,709 365 (69,392)(2) 532,198
Distribution services fees 614,193 65,818 0 1,739,303 (4) 2,419,314
Fund share registration costs 115,786 188,206 7,006 0 310,998
Professional fees 58,504 45,581 30,280 (46,609)(2) 87,756
Printing and postage 48,152 17,121 24,754 (39,180)(6) 50,847
Insurance premiums 14,493 21,471 1,845 (20,316)(6) 17,493
Miscellaneous 14,716 32,018 3,269 (27,929)(6) 22,074
TOTAL EXPENSES 4,082,087 4,133,307 737,016 780,107 9,732,517
Less fee waiver and expense reimbursements (1,247,263) (19,328) (44,012) 487,451 (7) (823,152)
NET EXPENSES 2,834,824 4,113,979 693,004 1,267,558 8,909,365
NET INVESTMENT INCOME 25,662,809 10,948,238 5,662,467 (1,267,558) 41,005,956
NET REALIZED AND UNREALIZED GAIN
(LOSS) ON INVESTMENTS:
Net realized gain(loss)on investments (488,904) 247 0 (490,978)
Net gain (loss)on investments (488,904) (2,321) 247 0 (490,978)
Net increase in net assets resulting from
operations $25,173,905 $10,945,917 $5,662,714 (1,267,558) $40,514,978
</TABLE>
(See Notes which are an integral part of the Pro Forma Financial Statements)
(1) Reflects an increase in investment advisory fee and a decrease in
administrative personnel and service fees based on the
surviving Fund's fee schedule.
(2) Reflects elimination of duplicate service fees.
(3) Based on surviving Fund's contract in effect for custodian and portfolio
accounting services.
(4) Reflects an increase in distribution service fees for Class A shares based
on the surviving Fund's fee schedule and combined Class A net assets.
(5) Reflects the elimination of a shareholder service fee that is not applicable
under the surviving Fund's fee structure.
(6) Adjustment reflects the expected cost savings when the funds combine.
(7) Reflects an increase in waiver of investment advisory fee based on the
surviving Fund's voluntary advisory fee waiver in effect for the
year ended June 30, 1995. The Adviser may, at its discretion, revise or
cease this voluntary fee waiver at any time.
Evergreen Money Market Fund
Notes to Pro Forma Combining Financial Statements (Unaudited)
June 30, 1995
1. Basis of Combination - The Pro forma Statement of Assets and
Liabilities, including the Pro Forma Portfolio of Investments, and
the related Pro Forma Statement of Operations ("Pro forma Statements")
reflect the accounts of Evergreen Money Market Fund ("Evergreen"), FFB
Cash Management Fund ( FFB ) and FFB Lexicon Cash Management Fund
("Lexicon ) at June 30, 1995 and for the year then ended.
The Pro forma Statements give effect to the proposed transfer of all
assets and liabilities of FFB and Lexicon in exchange for shares of
Evergreen. The Pro forma Statements do not reflect the expense of
each Fund in carrying out its obligations under the Agreement and Plan
of Reorganization. The actual fiscal year end of the combined Fund
will be August 31, the fiscal year end of Evergreen. The Evergreen
Money Market Fund's accounts at June 30, 1995 and for the year then
ended includes the accounts of First Union Money Market Portfolio which
transferred its assets and liabilities to Evergreen on July 7, 1995.
The Reorganization will be accomplished through a series of
acquisitions of substantially all of the assets of FFB and Lexicon by
Evergreen, and the assumption by Evergreen of certain identified
liabilities of FFB and Lexicon. Thereafter, there will be a
distribution of such shares of Evergreen to shareholders of FFB and
Lexicon in liquidation of and subsequent termination of FFB and
Lexicon. The information contained herein is based on the experience
of each fund for the year ended June 30, 1995 and is designed to permit
shareholders of FFB and Lexicon to evaluate the financial effect of the
proposed Reorganization. The expenses of Evergreen, FFB and Lexicon in con-
nection with the Reorganization (including the cost of any proxy
soliciting agents), will be borne by First Union National Bank of North
Carolina.
<PAGE>
The Pro forma Statements should be read in conjunction with the
historical financial statements of each Fund incorporated by
reference in the Statement of Additional Information.
2. Shares of Beneficial Interest - The pro forma net asset value per
share assumes the issuance of additional shares of Evergreen Class A
shares to FFB shareholders and Evergreen Class Y shares to Lexicon
shareholders which would have been issued at June 30, 1995 in
connection with the proposed reorganization. The amount of
additional shares assumed to be issued was calculated based on the
June 30, 1995 net assets of FFB and Lexicon ($667,214,994 and
$100,354,584 respectively) and the net asset value per share of
Evergreen of $1.
The pro forma shares outstanding of 1,225,393,284 Class A, 8,746,986
Class B, and 434,218,801 Class Y consist respectively of 667,214,994
and 100,352,990 additional shares Class A and Y to be issued in the
proposed reorganization, as calculated above, in addition to shares of
Evergreen outstanding as of June 30, 1995.
3. Pro Forma Operations - The Pro Forma Statement of Operations
assumes similar rates of gross investment income for the investments
of each Fund. Accordingly, the combined gross investment income is
equal to the sum of each Fund's gross investment income. Pro forma
operating expenses include the actual expenses of the Funds and the
combined Fund, with certain expenses adjusted to reflect the expected
expenses of the combined entity. The investment advisory fee,
administrative personnel and service fees, and distribution service
fees have been charged to the combined Fund based on the fee schedule
in effect for Evergreen at the combined level of average net assets
for the year ended June 30, 1995. In accordance with the fee schedule
in effect for Evergreen, the Adviser will reimburse the combined Fund
to the extent that the Fund's aggregate annual operating expenses
(including the advisory fee but excluding interest, taxes, brokerage
commissions, Rule 12b-1 distribution fees and shareholder service
fees, and extraordinary expenses) exceed 1.00% of the average net
assets for any fiscal year. Additionally, the Adviser may, at its
discretion, waive
<PAGE>
its fee or reimburse the Fund for certain of its expenses in order to
reduce the Fund's expense ratio. An adjustment has been made to the
combined Fund's expenses to increase the waiver of investment advisory
fee based on the voluntary advisory fee waiver in effect for Evergreen
for the year ended June 30, 1995. The Adviser may, at its discretion,
revise or cease this voluntary fee waiver at any time.
<PAGE>
