SUPPLEMENT TO THE PROSPECTUSES
OF
Evergreen Tax Exempt Money Market Fund
(the "Fund")
The second and third paragraphs under the "Investment Objectives and
Policies" section relating to the Fund under "Description of the Funds" are
hereby replaced in their entirety with the following:
The Fund will invest in Municipal Securities that are determined to
present minimal credit risk and are, at the time of acquisition, eligible
securities under Rule 2a-7 of the Investment Company Act of 1940, as amended
("Rule 2a-7"). The Fund will also comply with the diversification requirements
prescribed by Rule 2a-7. As a matter of fundamental policy, the Fund will invest
at least 80% of its net assets in Municipal Securities, the interest from which
is not subject to the federal alternative minimum tax.
July 11, 1997
