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SIGNATURE TOM LINE
TITLE TREASURER
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<NAME> EVERGREEN GLOBAL EQUITY TRUST
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A Special Meeting of the Shareholders of
the Alpine International Real Estate Equity
Fund, (the "Fund") was held on February
23, 1998. Proposal 1 was the approval
of a new investment advisory agreement
between the Fund and Alpine Management and Research LLC. Proposal 1 was
approved with 1,818,898 votes for, 32,475 against,
and 12,183 abstained.
Proposal 2 included the election of Trustees. Samuel A.
Lieber, H. Guy Leibler, Laurence B. Ashkin, and Foster
Bam were elected as trustees of the Trust. Samuel A.
Lieber received 1,840,137 votes for, 17,185 against, and
6,235 abstained. H. Guy Leibler received 1,838,969
votes for, 18,353 against, and 6,235 abstained. Laurence
B. Ashkin received 1,838,919 votes for, 18,403 against,
and 6,235 abstained. Finally, Foster Bam received
1,837,927 votes for, 19,395 against, and 6,235 abstained.
Proposal 3 was numerous changes in investment policies
and restrictions. The Fund's policy on concentration of
investments was amended to provide that, "The Fund
will concentrate its investments in the securities of
companies engaged principally in the real estate industry
and may invest all of its assets in such securities;
however, the Fund may temporarily invest less than 25%
of the value of its assets in such securities during periods
of adverse economic conditions in the real estate
industry." This amendment was approved with
1,804,475 votes for, 44,951 votes against, and 14,131
votes abstained.
The Fund's restriction on borrowing was amended to
provide that, "The Fund may not issue senior securities
as defined by the Investment Act of 1940, except that the
Fund may borrow money from banks and enter into
reverse repurchase agreements (I) in the aggregate
amount up to 10% of the value of its total assets to
increase its holdings of portfolio securities and (II) for
temporary extraordinary or emergency purposes, subject
to the overall limitation that total borrowings by the
Fund (including borrowing through reverse repurchase
agreements) may not exceed 33 1/3% of the value of the
Fund's total assets (measured in each case at the time of
borrowing)." This amendment was approved with
1,804,526 votes for, 44,900 against, and 14,131
abstained.
The Fund's restriction on pledging assets was repealed
with 1,804,059 votes for, 45,367 against, and 14,131
abstained.
The Fund's restriction on short sales was amended to
provide that, "The Fund may effect short sales of
securities subject to the limitation that the Fund may not
sell a security short if, as a result of such sale, the
current value of securities sold short by the Fund would
exceed 10% of the value of the Fund's net assets;
provided, however, if the Fund owns or has the right to
obtain securities equivalent in kind and amount to the
securities sold short (i.e. short sales "against the box"),
this limitation is not applicable." This amendment was
approved with 1,804,747 votes for, 44,679 against, and
14,131 abstained.
The Fund's restriction on loans was amended to provide
that, "The Fund may not make loans of money or
securities, except to the extent that the Fund may lend
money through the purchase of permitted investments,
including repurchase agreements, and may lend
securities in accordance with such procedures as may be
adopted by the trustees." This amendment was approved
with1,804,475 votes for, 44,951 against, and 14,131
abstained.
The Fund's policy on investment in securities of Non-
U.S. issuers was repealed with 1,804,737 votes for,
44,679 against, and 14,131 abstained.
The Fund's restriction relating to options was repealed
with 1,804,737 votes for, 44,679 against, and 14,131
abstained.
The Fund's restriction on diversification of investments was amended to
provide that, "with respect to 75% of its total assets, the Fund may not
purchase a security, other than securities issued or guaranteed by the U.S.
government, its agencies or instrumentalities, if as a result of such
purchase, more than 5% of the value of the Fund's total assets would be
invested in the securities of any one issuer, or the Fund would own more
than 10% of the voting securities of any one issuer." This amendment was ap
The Fund's restriction relating to investments in securities of unseasoned
issuers was repealed with 1,804,737 votes for, 44,679 against, and 14,131
abstained.
The Fund's restriction limiting the purchase of warrants was repealed with
1,804,737 votes for, 44,679 against, and 14,131 abstained.
The Fund's restriction under which it may not purchase securities of an
issuer if (I) one or more officers or Trustees of the Trust or the Fund's
investment adviser or investment sub adviser individually owns or would own,
directly or beneficially, more than 1/2 of 1% of the securities of such
issuer, and (II) in the aggregate, such persons own or would own, directly
or beneficially, more than 5% of such securities was repealed with 1,804,737
votes for, 44,679 against, and 14,131 abstained.
The Fund's restriction regarding commodities was amended to provide that,
"the Fund may not purchase, sell or invest in commodities, provided that the
restriction shall not prohibit the Fund from purchasing and selling
securities or other instruments backed by commodities or financial futures
contracts and related options, including but not limited to, currency
futures contracts and stock index futures. This amendment was approved with
1,804,398 votes for, 45,028 against, and 14,131 abstained.
