CHARLOTTE, N.C., Sept 05, 2008 /PRNewswire via COMTEX News Network/ -- Evergreen Investments today
announced changes to the following portfolio management teams:

    Fund                       Existing Portfolio    New Portfolio
                               Management Team       Management Team

    Evergreen Adjustable       Lisa Brown-Premo      Richard
    Rate Fund                  Robert D. Rowe        Applebach, CFA
                                                     Christopher
                                                     Kauffman, CFA
                                                     Todd C. Kuimjian,
                                                     CFA

    Evergreen Core Plus        Robert A.             Robert A.
    Bond Fund                  Calhoun, CFA          Calhoun, CFA*
                               Parham M.             Parham M.
                               Behrooz, CFA          Behrooz, CFA*
                               Andrew Cestone        Andrew Cestone*
                               Todd C.               Todd C.
                               Kuimjian, CFA         Kuimjian, CFA*
                               Michael Lee           Michael Lee*
                               Anthony Norris        Anthony Norris*
                               Alex Perrin           Alex Perrin*
                               Lisa Brown-Premo      Peter Wilson*
                               Robert D. Rowe
                               Peter Wilson


    Evergreen Multi-Sector     Lisa Brown-Premo      Richard
    Fund                                             Applebach, CFA
    (adjustable rate                                 Christopher
    securities sleeve)                               Kauffman, CFA
                                                     Todd C. Kuimjian,
                                                     CFA

    Evergreen U.S.             Lisa Brown-Premo      Richard
    Government Fund            Karen M. DiMeglio     Applebach, CFA
                                                     Karen M. DiMeglio*
                                                     Christopher
                                                     Kauffman, CFA
                                                     Todd C. Kuimjian,
                                                     CFA

    * Currently a portfolio manager on the respective fund

These portfolio management changes were not prompted by the current
pricing, liquidity or asset quality of the Funds. Biographies for portfolio
managers not previously named on the products are listed below:

Richard Applebach is a senior portfolio manager with Evergreen Investments
affiliate Tattersall Advisory Group (TAG) on Evergreen Adjustable Rate Fund,
Evergreen U.S. Government Fund and the mortgage securities sleeve of the
closed-end Evergreen Multi-Sector Income Fund. Previously he served as a
senior portfolio specialist for TAG as the primary fixed income portfolio
management contact professional for institutional core bond, high yield, and
structured product accounts. Rich has been with TAG or an Evergreen affiliate
firm since 2002. Prior to joining Tattersall, he served as a fixed income
manager with Invesco (2000-2002) and Bank of America (1996-2002) where he
focused on managing core bond portfolios and specialized in evaluating agency,
non-agency residential, and commercial mortgage backed securities for the
portfolios. Rich has been working in the investment management field since
1987.

Christopher Kauffman, CFA, is a senior portfolio manager with Evergreen
Investments affiliate Tattersall Advisory Group on Evergreen Adjustable Rate
Fund, Evergreen U.S. Government Fund and the mortgage securities sleeve of the
closed-end Evergreen Multi-Sector Income Fund. Christopher has been with TAG
or an affiliate firm since 2003. Previously, he served as investment officer
for NISA Investment Advisors (1997-2003), where he was responsible for MBS
analysis, risk assessment, and trading. Christopher has been working in the
investment management field since 1997.

Todd C. Kuimjian, CFA is a senior portfolio manager with Evergreen
Investments affiliate Tattersall Advisory Group on Evergreen Adjustable Rate
Fund, Evergreen Core Plus Bond Fund, Evergreen U.S. Government Fund, and the
mortgage securities sleeve of the closed-end Evergreen Multi-Sector Income
Fund. Previously, he served as senior portfolio manager with responsibility
for research and trading activity within the mortgage sector, as well as
portfolio management. Todd has been with TAG or an Evergreen affiliate firm
since 1994. Prior to joining TAG, he served as an associate director for
Evergreen affiliates FCG and Mentor Investment Group (1994-2001). Todd has
been working in the investment management field since 1994.

About Evergreen Investments

Evergreen Investments is the brand name under which Wachovia Corporation
(NYSE: WB) conducts its investment management business. Wachovia Global Asset
Management is the brand name under which Evergreen Investments conducts sales
and distribution business outside of the United States. Evergreen serves more
than four million individual and institutional investors through a broad range
of investment products. Led by 300 investment professionals, Evergreen
strives to meet client investment objectives through disciplined, team-based
asset management. Evergreen manages more than $245 billion in assets (as of
June 30, 2008). Please visit EvergreenInvestments.com for more information
about Evergreen Investments.

SOURCE Evergreen Investments

http://www.evergreeninvestments.com

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