- -----------------------------------------------------------------------
EVERGREEN GROUP OF MUTUAL FUNDS January 2, 1997
- -----------------------------------------------------------------------
Supplement to Prospectuses
Effective December 31, 1996, BISYS Fund Services ("BISYS"), located at 3435
Stelzer Road, Columbus, Ohio 43219, acquired the mutual fund administration and
distribution business of Furman Selz LLC ("Furman"). Accordingly, BISYS now acts
as sub-administrator for each fund in the Evergreen Group of Mutual Funds in
place of Furman.
Evergreen Keystone Distributor, Inc. ("EKD"), located at 120 Clove Road,
Little Falls, New Jersey 07424, and formerly known as Evergreen Funds
Distributor, Inc. ("EFD"), is the distributor for the Evergreen Keystone Group
of Mutual Funds. EKD is an affiliate of BISYS, having been acquired by BISYS on
January 3, 1997.
The rate of compensation for BISYS and EKD will remain unchanged from the
compensation formerly paid to Furman and EKD prior to January 1, 1997.
