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SIGNATURE J KEVIN KENELY
TITLE V.P. FUND ADMIN
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<OVERDIST-NET-GAINS-PRIOR> (10)
<GROSS-ADVISORY-FEES> (155)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (460)
<AVERAGE-NET-ASSETS> 25,509
<PER-SHARE-NAV-BEGIN> 10.10
<PER-SHARE-NII> 0.51
<PER-SHARE-GAIN-APPREC> 0.07
<PER-SHARE-DIVIDEND> (0.49)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> (0.02)
<PER-SHARE-NAV-END> 10.17
<EXPENSE-RATIO> 1.80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 101
<NAME> EVERGREEN INTERMEDIATE-TERM BOND FUND CLASS A
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 156,335,609
<INVESTMENTS-AT-VALUE> 158,618,369
<RECEIVABLES> 2,049,496
<ASSETS-OTHER> 14,718
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 160,682,583
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 256,968
<TOTAL-LIABILITIES> 256,968
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 158,566,429
<SHARES-COMMON-STOCK> 15,380,764
<SHARES-COMMON-PRIOR> 15,624,845
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (125)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (4,448,456)
<ACCUM-APPREC-OR-DEPREC> 2,228,641
<NET-ASSETS> 156,346,489
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 10,888,839
<OTHER-INCOME> 0
<EXPENSES-NET> (1,294,635)
<NET-INVESTMENT-INCOME> 9,594,204
<REALIZED-GAINS-CURRENT> (1,578,843)
<APPREC-INCREASE-CURRENT> 2,720,414
<NET-CHANGE-FROM-OPS> 10,735,775
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (9,653,448)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (65,758)
<NUMBER-OF-SHARES-SOLD> 4,825,919
<NUMBER-OF-SHARES-REDEEMED> (5,719,188)
<SHARES-REINVESTED> 649,188
<NET-CHANGE-IN-ASSETS> (1,467,283)
<ACCUMULATED-NII-PRIOR> 91,811
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (2,903,289)
<GROSS-ADVISORY-FEES> (964,090)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,294,635)
<AVERAGE-NET-ASSETS> 160,729,928
<PER-SHARE-NAV-BEGIN> 10.10
<PER-SHARE-NII> 0.61
<PER-SHARE-GAIN-APPREC> 0.08
<PER-SHARE-DIVIDEND> (0.60)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> (0.02)
<PER-SHARE-NAV-END> 10.17
<EXPENSE-RATIO> 0.81
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 101
<NAME> EVERGREEN INTERMEDIATE-TERM GOVERNMENT SECURITIES FUND CLASS A
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 79,067,842
<INVESTMENTS-AT-VALUE> 79,538,637
<RECEIVABLES> 1,242,782
<ASSETS-OTHER> 15,257
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 80,796,676
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,883,488
<TOTAL-LIABILITIES> 7,883,488
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 74,620,343
<SHARES-COMMON-STOCK> 57,029
<SHARES-COMMON-PRIOR> 49,790
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (5,097)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2,172,833)
<ACCUM-APPREC-OR-DEPREC> 470,795
<NET-ASSETS> 72,913,208
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,768,839
<OTHER-INCOME> 0
<EXPENSES-NET> (745,411)
<NET-INVESTMENT-INCOME> 5,023,428
<REALIZED-GAINS-CURRENT> (16,049)
<APPREC-INCREASE-CURRENT> 219,766
<NET-CHANGE-FROM-OPS> 5,227,145
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,037,749)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10,763
<NUMBER-OF-SHARES-REDEEMED> (5,953)
<SHARES-REINVESTED> 2,429
<NET-CHANGE-IN-ASSETS> 74,120
<ACCUMULATED-NII-PRIOR> 17,332
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (2,181,361)
<GROSS-ADVISORY-FEES> (546,941)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (818,968)
<AVERAGE-NET-ASSETS> 573,258
<PER-SHARE-NAV-BEGIN> 9.99
<PER-SHARE-NII> 0.55
<PER-SHARE-GAIN-APPREC> 0.03
<PER-SHARE-DIVIDEND> (0.55)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.02
<EXPENSE-RATIO> 0.86
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 101
<NAME> EVERGREEN INTERMEDIATE-TERM GOVERNMENT SECURITIES FUND CLASS A
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 79,067,842
<INVESTMENTS-AT-VALUE> 79,538,637
<RECEIVABLES> 1,242,782
<ASSETS-OTHER> 15,257
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 80,796,676
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,883,488
<TOTAL-LIABILITIES> 7,883,488
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 74,620,343
<SHARES-COMMON-STOCK> 74,011
<SHARES-COMMON-PRIOR> 35,990
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (5,097)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2,172,833)
<ACCUM-APPREC-OR-DEPREC> 470,795
<NET-ASSETS> 72,913,208
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,768,839
<OTHER-INCOME> 0
<EXPENSES-NET> (745,411)
<NET-INVESTMENT-INCOME> 5,023,428
<REALIZED-GAINS-CURRENT> (16,049)
<APPREC-INCREASE-CURRENT> 219,766
<NET-CHANGE-FROM-OPS> 5,227,145
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,037,749)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 49,960
<NUMBER-OF-SHARES-REDEEMED> (13,674)
<SHARES-REINVESTED> 1,735
<NET-CHANGE-IN-ASSETS> 382,275
<ACCUMULATED-NII-PRIOR> 17,332
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (2,181,361)
<GROSS-ADVISORY-FEES> (546,941)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (818,968)
<AVERAGE-NET-ASSETS> 644,164
<PER-SHARE-NAV-BEGIN> 9.99
<PER-SHARE-NII> 0.45
<PER-SHARE-GAIN-APPREC> 0.04
<PER-SHARE-DIVIDEND> (0.46)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.02
<EXPENSE-RATIO> 1.81
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 101
<NAME> EVERGREEN INTERMEDIATE-TERM GOVERNMENT SECURITIES FUND CLASS A
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 79,067,842
<INVESTMENTS-AT-VALUE> 79,538,637
<RECEIVABLES> 1,242,782
<ASSETS-OTHER> 15,257
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 80,796,676
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,883,488
<TOTAL-LIABILITIES> 7,883,488
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 74,620,343
<SHARES-COMMON-STOCK> 1,207
<SHARES-COMMON-PRIOR> 3,253
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (5,097)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2,172,833)
<ACCUM-APPREC-OR-DEPREC> 470,795
<NET-ASSETS> 72,913,208
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,768,839
<OTHER-INCOME> 0
<EXPENSES-NET> (745,411)
<NET-INVESTMENT-INCOME> 5,023,428
<REALIZED-GAINS-CURRENT> (16,049)
<APPREC-INCREASE-CURRENT> 219,766
<NET-CHANGE-FROM-OPS> 5,227,145
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,037,749)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,288
<NUMBER-OF-SHARES-REDEEMED> (4,419)
<SHARES-REINVESTED> 85
<NET-CHANGE-IN-ASSETS> (20,393)
<ACCUMULATED-NII-PRIOR> 17,332
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (2,181,361)
<GROSS-ADVISORY-FEES> (546,941)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (818,968)
<AVERAGE-NET-ASSETS> 24,173
<PER-SHARE-NAV-BEGIN> 9.99
<PER-SHARE-NII> 0.40
<PER-SHARE-GAIN-APPREC> 0.09
<PER-SHARE-DIVIDEND> (0.46)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.02
<EXPENSE-RATIO> 1.81
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER> 101
<NAME> EVERGREEN INTERMEDIATE-TERM GOVERNMENT SECURITIES FUND CLASS A
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 79,067,842
<INVESTMENTS-AT-VALUE> 79,538,637
<RECEIVABLES> 1,242,782
<ASSETS-OTHER> 15,257
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 80,796,676
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,883,488
<TOTAL-LIABILITIES> 7,883,488
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 74,620,343
<SHARES-COMMON-STOCK> 7,142,890
<SHARES-COMMON-PRIOR> 8,709,664
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (5,097)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2,172,833)
<ACCUM-APPREC-OR-DEPREC> 470,795
<NET-ASSETS> 72,913,208
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,768,839
<OTHER-INCOME> 0
<EXPENSES-NET> (745,411)
<NET-INVESTMENT-INCOME> 5,023,428
<REALIZED-GAINS-CURRENT> (16,049)
<APPREC-INCREASE-CURRENT> 219,766
<NET-CHANGE-FROM-OPS> 5,227,145
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,037,749)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,476,575
<NUMBER-OF-SHARES-REDEEMED> (5,437,776)
<SHARES-REINVESTED> 394,427
<NET-CHANGE-IN-ASSETS> (15,416,185)
<ACCUMULATED-NII-PRIOR> 17,332
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (2,181,361)
<GROSS-ADVISORY-FEES> (546,941)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (818,968)
<AVERAGE-NET-ASSETS> 89,915,283
<PER-SHARE-NAV-BEGIN> 9.99
<PER-SHARE-NII> 0.56
<PER-SHARE-GAIN-APPREC> 0.03
<PER-SHARE-DIVIDEND> (0.56)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.02
<EXPENSE-RATIO> 0.81
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
The Trustees and Shareholders
Keystone Capital Preservation and Income Fund
Evergreen Lexicon Trust
Keystone Intermediate Term Bond Fund
Evergreen Investment Trust
In planning and performing our audits of the financial statements of the
Evergreen Keystone Short and Intermediate Term Bond Funds (including Keystone
Capital Preservation and Income Fund, Evergreen Intermediate Term Bond Fund,
Keystone Intermediate Term Bond Fund, Evergreen Intermediate Term Government
Securities Fund and Evergreen Short-Intermediate Term Bond Fund) for the year or
period ended June 30, 1997, we considered their internal control structure,
including procedures for safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-SAR, not to provide
assurance on the internal control structure.
The management of the Evergreen Keystone Short and Intermediate Term Bond Funds
is responsible for establishing and maintaining an internal control structure.
In fulfilling this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of internal control
structure policies and procedures. Two of the objectives of an internal control
structure are to provide management with reasonable, but not absolute, assurance
that assets are safeguarded against loss from unauthorized use or disposition
and that transactions are executed in accordance with management's authorization
and recorded properly to permit preparation of financial statements in
conformity with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any evaluation
of the structure to future periods is subject to the risks that it may become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 1997.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
August 8, 1997
