SUPPLEMENT TO PROSPECTUS OF
EVERGREEN VARIABLE ANNUITY FUNDS
I. Evergreen VA Fund, Evergreen VA Small Cap Value Fund
Effective July 9, 1999, the section of the prospectuses entitled "THE
FUNDS' PORTFOLIO MANAGERS" is supplemented to reflect the following change:
Evergreen VA Fund
The day-to-day management of the Fund is handled by Stephen A. Lieber.
Mr. Lieber is Chairman and Co-Chief Executive Officer of EAMC. He was a founding
partner of Lieber & Company, the original sponsor of the Evergreen Funds, when
it was established in 1969. He has been with EAMC and its predecessor since 1971
and has been in the investment management profession since 1952. Mr. Lieber has
also managed Evergreen Fund since its inception in 1970.
Evergreen VA Small Cap Value Fund
The day-to-day management of the Fund is handled by Jordan Alexander,
CFA. Mr. Alexander has been an assistant portfolio manager since joining EAMC in
September 1998 and has been the portfolio manager of the Fund since July 1999.
From 1995-1998, he was an associate healthcare analyst at PaineWebber
Incorporated. From 1993-1995, he was a senior financial analyst at Arthur
Andersen LLP.
June 14, 1999
II. Evergreen VA Fund, Evergreen VA Foundation Fund, Evergreen VA Global
Leaders Fund
Effective August 2, 1999, the section of the prospectuses entitled "THE
FUNDS' PORTFOLIO MANAGERS" is supplemented to reflect the following change:
Evergreen VA Fund, Evergreen VA Foundation Fund
Jean Ledford and Richard Welsh became co-managers of the Fund in August
1999. Jean Ledford, CFA, became President and Chief Executive Officer of EAMC in
August 1999. From February 1997 until she joined EAMC, Ms. Ledford worked as a
portfolio manager at American Century Investments ("American Century"). From
1980 until she joined American Century, Ms. Ledford was the investment director
at the State of Wisconsin Investment Board.
Richard Welsh joined EAMC as Senior Vice President and portfolio
manager in August 1999. Prior to joining EAMC, he worked for five years as a
portfolio manager and analyst at American Century.
Evergreen VA Global Leaders Fund
The day-to-day management of the Fund is handled by Edwin D. Miska. Mr.
Miska has been an analyst with EAMC and its predecessor since 1986. He became a
portfolio manager with EAMC in 1989 and has managed the Fund since its inception
in March 1997.
XXXXXX 7/99
July 12, 1999
