Closed-End Fund Advisory: Evergreen to Hold Conference Call

BOSTON, Aug. 21  /PRNewswire-FirstCall/ -- Evergreen Investments will hold a conference call on Wednesday, August 22, 2007, at 4:15pm EST to discuss market conditions related to its five closed-end funds: Evergreen Income Advantage (NYSE:EAD); Evergreen Multi-Sector Income (AMEX:ERC); Evergreen Utilities and High Income (AMEX:ERH); Evergreen International Balanced Income (NYSE:EBI); and Evergreen Global Dividend Opportunity (NYSE:EOD).

The call will be led by Karen McColl, CFA, senior vice president, managing director, Investment Product Management, and will feature four portfolio managers representing various Evergreen closed-end funds.

   *  Timothy P. O'Brien, CFA, principal, Crow Point Partners and portfolio
      manager of Evergreen Utilities and High Income and Evergreen Global
      Dividend Opportunities funds;
   *  Joseph DeSantis, chief investment officer and lead portfolio manager,
      Evergreen International Balanced Income and Evergreen Global Dividend
      Opportunities funds;
   *  Lisa Brown-Premo, head of Tattersall Advisory Group's Mortgage-Backed
      Securities/Structured Products group and senior portfolio manager,
      Evergreen Multi-Sector Income Fund; and
   *  Andrew Cestone, director of Tattersall Advisory Group's High Yield
      team and portfolio manager of Evergreen Income Advantage Fund.



During the call, Ms. McColl and team will review recent performance of the funds, discuss drivers of investment results and provide a general outlook for the each of the firm's closed-end funds.

Interested parties should call toll free 877 .747.8778 and enter the following conference identification number when prompted: 14115727.

Participants should be prepared to provide their name and professional affiliation, if applicable.

The call will be recorded and made available for playback beginning approximately two hours after its completion.  To access the recording, please call 800.642.1687.  The recording will be available for replay for 30 days. Evergreen will make a transcript of the call available on its Web site shortly after the call.

For more information about Evergreen's closed-end funds, contact your financial advisor, visit EvergreenInvestments.com, or call 800.343.2898.

Funds: NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE

These closed-end funds are no longer offered as an initial public offering and are only offered through broker/dealers on the secondary market. A closed- end fund is not required to buy its shares back from investors upon request.

Evergreen Income Advantage(1, 2, 3), Evergreen Multi-Sector Income(1, 2, 3, 4), Evergreen Utilities and High Income(1, 2, 3, 4, 5, 6), Evergreen International Balanced Income(1, 4, 7), Evergreen Global Dividend Opportunity(1, 4, 5, 8)

Past performance is no guarantee of future results.(1) The fund's investment objective may be changed without a vote of the fund's shareholders. Investment return and principal value of an investment will fluctuate so that investors' shares, when sold, may be worth more or less than their original costs. Derivatives involve additional risks including interest rate risk, credit risk, the risk of improper valuation and the risk of non-correlation to the relevant instruments they are designed to hedge or to closely track. High yield, lower-rated bonds may contain more risk due to the increased possibility of default. The return of principal is not guaranteed due to fluctuation in the fund's NAV caused by changes in the price of individual bonds held by the fund and the buying and selling of bonds by the fund. Bond funds have the same inflation, interest rate and credit risks as individual bonds. Generally, the value of bond funds rise when prevailing interest rates fall, and fall when interest rates rise. (2)The fund has issued preferred shares and, in addition, may borrow, which creates leverage. The use of leverage results in certain risks including, among others, the likelihood of greater volatility of net asset value and the market price of common shares. (3)U.S. government guarantees apply only to certain securities held in the fund's portfolio and not to the fund's shares. (4)Foreign investments may contain more risk due to the inherent risks associated with changing political climates, foreign market instability and foreign currency fluctuations. (5)Funds that concentrate their investments in a single industry or sector may face increased risk of price fluctuation over more diversified funds due to adverse developments within that industry or sector. (6)Non-diversified funds may face increased risk of price fluctuation over more diversified funds due to adverse developments within certain sectors. (7)There are numerous risks associated with transactions in options on securities. As the writer of an index call option, the Fund foregoes the opportunity to profit from increases in the values of securities held by the Fund. However, the Fund has retained the risk of loss (net premiums received) should the price of the Fund's portfolio securities decline. Similar risks are involved with writing call options on individual securities held in the Fund's portfolio. This combination of potentially limited appreciation and full depreciation over time may lead to the erosion in the value of the Fund. (8)Mid-cap securities may be subject to special risks associated with narrower product lines and limited financial resources than compared to their large-cap counterparts and, as a result, mid-cap securities may decline significantly in market downturns. The stocks of smaller companies may be more volatile than those of larger companies due to the higher risk of failure.

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 400 investment professionals, Evergreen Investments strives to meet client investment objectives through disciplined, team-based asset management.  Evergreen Investments manages approximately $281 billion in assets (as of June 30, 2007).  Please visit EvergreenInvestments.com for more information about Evergreen Investments.

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. Copyright 2007. Evergreen Investment Management Company, LLC. 

DATASOURCE: Evergreen Investments



CONTACT:  Laura Fay of Evergreen Investments, [phone],





Web site:  http://www.evergreeninvestments.com/

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