Shareholders Approve Merger of Vestaur Securities Fund

Vestaur Securities Fund ("Vestaur") announced today that
shareholders approved Vestaur's merger with Evergreen Diversified Bond
Fund. Evergreen Diversified Bond Fund seeks to provide maximum income
without undue risk of principal by investing primarily in a wide range
of debt securities, including Treasury and agency securities,
mortgage-backed, investment grade corporate and lower-quality
corporate debt securities.
   In conjunction with the merger, Vestaur's transfer books will be
closed as of the close of business Tuesday, May 17, 2005. As a result
of this action, trading of Vestaur shares on the American Stock
Exchange (AMEX:VES) will cease at the close of business on Tuesday,
May 17, 2005. This will allow all trades to settle on or before
Friday, May 20, 2005. Vestaur will be merged into Evergreen
Diversified Bond Fund after the close of business Friday, May 20,
2005.
   Shares of Vestaur held as of the close of business Friday, May 20,
2005 will be exchanged at net asset value for shares of Evergreen
Diversified Bond Fund (EKDYX).
   Former shareholders of Vestaur can expect to receive information
from Evergreen regarding their new accounts in Evergreen Diversified
Bond Fund after the completion of the merger.

   About Evergreen Investments

   Evergreen Investments, investment advisor for Vestaur Securities
Fund, is the brand name under which Wachovia Corporation (NYSE:WB)
conducts its investment management business and is a leading asset
management firm serving more than four million individual and
institutional investors through a broad range of investment products.
Led by 350 investment professionals, Evergreen Investments strives to
meet client investment objectives through disciplined, team-based
asset management. Evergreen Investments manages more than $248 billion
in assets (as of March 31, 2005). For more information on Evergreen,
please visit www.evergreeninvestments.com.