Evergreen Announces New Closed-End Fund IPO

Evergreen Global Dividend Opportunity Fund is the Firm's Fifth Closed-End Fund 


BOSTON, March 29  /PRNewswire-FirstCall/ -- Evergreen Investments announced the initial public offering of common shares of Evergreen Global Dividend Opportunity Fund (NYSE:EOD), a diversified portfolio of common stocks of U.S. and non-U.S. companies and other equity securities that the Fund's sub-advisor believes should, in the aggregate, offer above average potential for current and/or future dividends.  The Fund's IPO raised $870 million in gross proceeds, representing 43.5 million common shares of beneficial interest at the initial offering price of $20 per share, with the potential to be increased by approximately 14 percent to more than $995 million, assuming full exercise of the underwriters' over-allotment option, which may not occur.  The Fund's shares began trading on March 28, 2007, on the New York Stock Exchange, Inc. under the symbol "EOD."

The co-lead managers of the underwriting syndicate were Wachovia Capital Markets, LLC and A.G. Edwards & Sons, Inc.

The Fund's advisor is Evergreen Investment Management Company, LLC.  Crow Point Partners, LLC (Crow Point) serves as the Fund's sub-advisor with respect to the equity portion of the Fund.  Timothy O'Brien will act as the lead portfolio manager of the Fund's equity investments.  O'Brien, formerly a managing director with Evergreen Investments, is co-founder and managing director of Crow Point.  O'Brien has been the lead manager for the open-end Evergreen Utility and Telecommunications Fund (NASDAQ:EVUAX) since April 2002 and the equity portion of the closed-end Evergreen Utilities and High Income Fund (AMEX:ERH) since inception in April 2004.

You should carefully consider the Fund's investment objective, risks and charges and expenses before investing. Read the prospectus, which contains this and other information about the Fund, carefully before investing. For a copy of the prospectus, please contact Evergreen Investments, 200 Berkeley Street, Boston, MA 02116 or 800.343.2898.

Closed-end funds do not continuously offer shares for sale.  The shares trade on the secondary market after the initial public offering. A closed-end fund is not required to buy its shares back from investors upon request. Like other securities, share prices will fluctuate with market conditions and at the time of sale may be worth more or less than the original investment.

Some of the principal risks of investing in the Fund include the following: no operating history, market discount risk, investment risk, stock market risk, preferred stock risk, issuer risk, options risk, derivatives risk, sector investment risk, short sale risk, interest rate risk, foreign (non-U.S.) investment risk, foreign currency risk, emerging markets risk, management risk, fund distributions risk, counterparty risk, high yield debt securities risk, tax risk, REIT risk, investment style risk, market capitalization risk, leverage risk, market price of shares risk, market disruption and geopolitical risk, anti-takeover provisions risk, inflation/deflation risk, liquidity risk, legal proceedings risk, and other investment companies risk.  Foreign investments may contain more risk due to the inherent risks associated with changing political climates, foreign market instability and foreign currency fluctuations.  Risks of international investing are magnified in emerging or developing markets.  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 erosion in the value of the Fund.  These and other risks are discussed in the Fund's prospectus, which you should read carefully before investing.

Like all investment company securities, the shares are not insured by the FDIC or any other government agency, are not issued or guaranteed by any bank, and may lose value.

Statements in this release that look forward in time involve risks and uncertainties and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Such risks and uncertainties include, but are not limited to, the adverse effect from a decline in the securities market or a decline in the Fund's performance.

Evergreen Investments is a non-bank subsidiary of Wachovia Bank, NA, a non-bank subsidiary of Wachovia Corporation and is an affiliate of Wachovia Corporation's other Broker Dealer subsidiaries.

Evergreen mutual funds are distributed by Evergreen Investments, 200 Berkeley Street, Boston, MA  02116.

Evergreen Investments(sm) is a service mark of Evergreen Investment Management Co., LLC, copyright 2007

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 more than 300 investment professionals, Evergreen Investments strives to meet client investment objectives through disciplined, team-based asset management. Evergreen Investments manages more than $273 billion in assets (as of December 31, 2006). For more information on Evergreen, please visit http://www.evergreeninvestments.com/ 

DATASOURCE: Evergreen Investments



CONTACT:  Laura Fay, [phone], ; or

Dan Flaherty, [phone], , both of

Evergreen Investments



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

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