BOSTON, March 12 /PRNewswire/ -- Evergreen Investments today announced the dividend declaration for Evergreen Income Advantage Fund (NYSE:EAD), Evergreen Multi-Sector Income Fund (NYSE:ERC), Evergreen Utilities and High Income Fund (NYSE:ERH) and Evergreen International Balanced Income Fund (NYSE:EBI). Evergreen Income Advantage Fund is a closed-end high-yield bond fund. The fund's investment objective is to seek a high level of current income. The fund may, as a secondary objective, seek capital appreciation to the extent consistent with its investment objective. Evergreen Income Advantage Fund declared the following monthly dividend from ordinary income: Declaration Ex-dividend Record Payable Dividend Date Date Date Date rate/share ----- ----- ----- ----- ---------- March 12, 2009 April 13, 2009 April 15, 2009 May 1, 2009 $0.1094 / share Evergreen Multi-Sector Income Fund is a closed-end bond fund. The fund's primary investment objective is to seek a high level of current income consistent with limiting its overall exposure to domestic interest rate risk. Evergreen Multi-Sector Income Fund declared the following monthly dividend from ordinary income: Declaration Ex-dividend Record Payable Dividend Date Date Date Date rate/share ----- ----- ----- ----- ---------- March 12, 2009 April 13, 2009 April 15, 2009 May 1, 2009 $0.1083 / share Evergreen Utilities and High Income Fund is a closed-end equity and high-yield bond fund. The fund's primary investment objective is to seek a high level of current income and moderate capital growth, with emphasis on providing tax-advantaged dividend income. Evergreen Utilities and High Income Fund declared the following monthly dividend from ordinary income: Declaration Ex-dividend Record Payable Dividend Date Date Date Date rate/share ----- ----- ----- ----- ---------- March 12, 2009 April 13, 2009 April 15, 2009 May 1, 2009 $0.11 / share Evergreen International Balanced Income Fund is a closed-end fund investing primarily in international stocks and bonds. The fund's investment objective is to provide a high level of income. The dividend below is a reduction in the stable dividend rate equal to $0.0608 per common share. The reduction in the dividend rate is primarily attributable to changing conditions in the international equity markets, which have resulted in adjustments to the portfolio's income generation potential going forward. At the new distribution rate of $0.085 per common share, the common share distribution yield will be 5.10% as a percent of the initial offer price. Evergreen International Balanced Income Fund declared the following monthly dividend from ordinary income: Declaration Ex-dividend Record Payable Dividend Date Date Date Date rate/share ----- ----- ----- ----- ---------- March 12, 2009 April 13, 2009 April 15, 2009 May 1, 2009 $0.085 / share To make changes to your account, please contact your financial advisor, brokerage firm, bank, or other nominee with whom your shares are registered. If your shares are registered with the funds' transfer agent, Computershare, please contact them directly at 800.730.6001 or visit http://www.computershare.com/. These closed-end funds are no longer offered as an initial public offering and are only offered through broker/dealers on the secondary market. Funds: NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE About Evergreen Investments Evergreen Investments is one of the brand names under which Wells Fargo & Company (NYSE:WFC) conducts its investment management business. Wells Fargo & Company is a diversified financial services company with $1.3 trillion in assets (as of December 31, 2008), providing banking, insurance, investments, mortgage and consumer finance through almost 11,000 stores and the internet (WellsFargo.com) across North America and internationally. 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 $175 billion in assets (as of December 31, 2008). Evergreen Investments(SM) is a service mark of Evergreen Investment Management Company, LLC. Copyright 2009. Evergreen Investment Management Company, LLC. For more information on Evergreen, please visit EvergreenInvestments.com. DATASOURCE: Evergreen Investments CONTACT: Shareholder Inquiries: 1-800-730-6001, Financial Advisor Inquiries: 1-800-343-2898, Media Inquiries: Lauren Sawyers, +1-704-715-4561, , or Laura Fay, +1-617-210-3867, Web Site: http://www.evergreeninvestments.com/

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