SUPPLEMENT TO THE PROSPECTUS
OF
EVERGREEN VARIABLE ANNUITY FUNDS
I. Evergreen VA Aggressive Growth Fund (the "Fund")
Effective October 1, 1999, the Fund will change its name to Evergreen
VA Omega Fund. At this time the Fund will also modify its investment objective,
strategy, and risk factors as follows:
Under the section entitled "FUND FACTS," the `Goal' will be stated as
`Capital Growth.'
The section entitled "INVESTMENT OBJECTIVE" will state: "The Fund seeks
maximum capital growth."
The section entitled "INVESTMENT STRATEGY" will state:
"The Fund invests primarily in common stocks and securities convertible
into common stocks. The Fund utilizes the fully-managed investment concept
whereby the Fund's manager will continuously review the Fund's holdings in light
of market conditions, business developments and economic trends. During this
review process, the Fund's manager seeks to identify and invest in industries
that are growing faster than the economy.
"The Fund invests in companies of all sizes. The continuous review may
lead to high portfolio turnover, but that will not limit investment decisions.
The Fund may also invest up to 25% of its assets in foreign securities.
"The Fund intends to sell a portfolio investment when the value of the
investment reaches or exceeds its estimated fair value, when the issuer's
investment fundamentals begin to deteriorate, when the investment no longer
appears to meet the Fund's investment objective, when the Fund must meet
redemptions, or for other investment reasons which the investment advisor deems
necessary.
"The Fund may invest up to 100% in high quality money market
instruments in response to adverse economic, political or market conditions.
This strategy is inconsistent with the Fund's principal investment strategy and
investment goal, and if employed could result in a lower return and loss of
market opportunity."
The section entitled "RISK FACTORS" will state:
"Your investment in the Fund is subject to the risks discussed in the
"Overview of Fund Risks" on page 1 under the headings:
o Stock Market Risk
o Small Company Risk
o Foreign Investment Risk
The investment advisor, the portfolio manager and all fees will remain
the same.
OMEGAFD 9/99
September 24, 1999
