SUPPLEMENT TO THE PROSPECTUS
OF
EVERGREEN VARIABLE ANNUITY FUNDS
I. Evergreen VA Fund
Effective January 1, 2001, Evergreen Variable Annuity Funds prospectus
is revised and supplemented as follows:
The tables under the section entitled "EXPENSES" for the Evergreen VA
Fund have been restated to reflect a change in the advisory fees. Management
Fees, Other Expenses, Total Fund Operating Expenses and Example of Fund Expenses
will now be as follows:
ANNUAL FUND OPERATING EXPENSES (expenses that are deducted from Fund assets)+
Total Fund
Management 12b-1 Other Operating
Fees Fees Expenses Expenses+
0.75% 0.00% 0.23% 0.98%
+ Restated for the fiscal year ended 12/31/1999 to reflect current fees.
The table below shows the total expenses you would pay on a $10,000 investment
over one-, three-, five- and ten-year periods. The example is intended to help
you compare the cost of investing in this Fund versus other mutual funds and is
for illustration purposes only. The example assumes a 5% average annual return
and that you reinvest all of your dividends and distributions. Your actual costs
may be higher or lower.
EXAMPLE OF FUND EXPENSES
After:
1 year $ 100
3 years $ 312
5 years $ 542
10 years $1,201
II. Evergreen VA Growth and Income Fund
Effective January 1, 2001, Evergreen Variable Annuity Funds prospectus
is revised and supplemented as follows:
The tables under the section entitled "EXPENSES" for the Evergreen VA
Growth and Income Fund have been restated to reflect a change in the advisory
fees. Management Fees, Other Expenses, Total Fund Operating Expenses and Example
of Fund Expenses will now be as follows:
ANNUAL FUND OPERATING EXPENSES (expenses that are deducted from Fund assets)+
Total Fund
Management 12b-1 Other Operating
Fees Fees Expenses Expenses+
0.75% 0.00% 0.21% 0.96%
+ Restated for the fiscal year ended 12/31/1999 to reflect current fees.
The table below shows the total expenses you would pay on a $10,000 investment
over one-, three-, five- and ten-year periods. The example is intended to help
you compare the cost of investing in this Fund versus other mutual funds and is
for illustration purposes only. The example assumes a 5% average annual return
and that you reinvest all of your dividends and distributions. Your actual costs
may be higher or lower.
EXAMPLE OF FUND EXPENSES
After:
1 year $ 98
3 years $ 306
5 years $ 531
10 years $1,178
January 1, 2001 556806 1/01
