Evergreen Investments has launched three new funds to be sub-advised by Golden Capital Management. Evergreen has had a minority stake in Charlotte-based Golden since 2005.

Evergreen Investments announced today the launch of three new diversified equity mutual funds to be sub- advised by Golden Capital Management, LLC (GCM), a minority-owned affiliate of Evergreen Investments and part of the firm's multi-boutique investment platform. Evergreen Golden Large Cap Core Fund (EGOAX), Evergreen Golden Core Opportunities Fund (ECOAX), and Evergreen Golden Mid Cap Core Fund (EGMAX) will utilize the proven strategies of GCM, which specializes in core equity management for institutional and high net worth investors.

"Golden's combination of fundamental research with a quantitative approach has produced a large cap equity strategy with an excellent long-term track record, and we are pleased to offer retail clients access to this disciplined investment process in a mutual fund structure," said Dennis Ferro, president and chief executive officer of Evergreen Investments. "These new funds, which utilize Golden's outstanding capabilities, complement and enhance our broad array of high-quality investment products and solutions."

In September 2005, Evergreen acquired a minority interest in GCM, a privately held Charlotte-based asset management firm that predominantly manages core and enhanced index equity portfolios for institutional and high net worth clients in the United States and abroad. GCM's assets have grown from $2 billion in 2005 to approximately $5 billion as of September 30, 2007.

"We value the opportunity to further capitalize on the success we've seen in our focused and enhanced strategies, applying our sound investment methodology to these new mutual funds," said Greg Golden, president and chief executive officer of Golden Capital Management. "As always, our investment philosophy centers on transparency and purity of investment process, consistency in execution, strong risk-control measures, and a commitment to delivering consistent, long-term returns for clients."

Evergreen Golden Large Cap Core Fund typically will be invested in approximately 50 securities diversified across major economic sectors. At least 80 percent of its assets will be held in common stocks of large market capitalization U.S. exchange-listed companies. These companies have market capitalizations that are similar, at the time of purchase, to those of the companies in the S&P 500 Index. The remaining 20 percent of the fund's assets may be invested in other types of securities including, without limitation, common stocks of companies of any size, preferred stocks and securities convertible into common stocks. Jeff Moser, principal and managing director of GCM, will have day-to-day responsibility for managing the fund. Moser is co-founder of GCM.

Evergreen Golden Core Opportunities Fund typically will be invested in approximately 50 securities diversified across major economic sectors. At least 80 percent of its assets will be held in the common stocks of small to mid capitalization U.S. exchange-listed companies. These companies have market capitalizations that are similar, at the time of purchase, to those of companies in the Russell 2500 Index. The remaining 20 percent of the fund's assets may be invested in other types of investments, including, without limitation, common stocks of companies of any size, preferred stocks and securities convertible into common stocks. John Campbell will serve as portfolio manager for the fund. He joined GCM in March 2006 and has worked in the investment industry since 1994.

Evergreen Golden Mid Cap Core Fund typically will be invested in approximately 40 securities diversified across major economic sectors. At least 80 percent of its assets will be held in common stocks of mid capitalization U.S. exchange-listed companies. These companies have market capitalizations that are similar, at the time of their purchase, to those of companies in the Russell Midcap Index. The remaining 20 percent of the fund's assets may be invested in other types of securities, including, without limitation, common stocks of companies of any size, preferred stocks and securities convertible into common stocks. Campbell will be the portfolio manager for the fund.

Evergreen Investment Management Company, LLC will serve as the investment advisor to each of the funds. GCM will be subject to Evergreen's investment manager oversight process to ensure consistency of style and process in the ongoing management of the funds.

Mutual funds are:

NOT FDIC INSURED -- NOT BANK GUARANTEED -- MAY LOSE VALUE

The fund's investment objective may be changed without a vote of the fund's shareholders. Mid cap securities may be subject to special risks associated with narrower product lines and limited financial resources compared to their large cap counterparts, and, as a result, mid cap securities may decline significantly in market downturns. Since the fund tends to invest in a smaller number of stocks than many similar mutual funds, changes in the value of individual stocks may have a larger impact on its net asset value than such fluctuations would if the fund were more broadly invested. The stocks of smaller companies may be more volatile than those of larger companies due to the higher risk of failure.

An investor should consider the fund's investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the investment company can be found in the fund's prospectus. To obtain a prospectus, please contact your financial advisor, call evergreen's investment services center at 800.343.2898 or visit evergreeninvestments.com. Please read the prospectus carefully before investing.

Evergreen mutual funds are distributed by Evergreen Investment Services, Inc. 200 Berkeley Street, Boston, MA 02116-5034. Evergreen Investments(SM) is a service mark of Evergreen Investment Management Company, LLC.

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. Combined, the groups serve more than four million individual and institutional investors through a broad range of investment products. Led by 300 investment professionals, Evergreen Investments strives to meet client investment objectives through disciplined, team-based asset management. Evergreen Investments manages more than $285 billion in assets (as of September 30, 2007). Please visit EvergreenInvestments.com for more information about Evergreen Investments.

Edited by: Erin Kello

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