Evergreen Large Company Growth Fund Annual Report as of September 30, 2002

	table of contents
1	LETTER TO SHAREHOLDERS
4	FUND AT A GLANCE
6	PORTFOLIO MANAGER INTERVIEW
9	FINANCIAL HIGHLIGHTS
13	SCHEDULE OF INVESTMENTS
16	STATEMENT OF ASSETS AND LIABILITIES
17	STATEMENT OF OPERATIONS
18	STATEMENT OF CHANGES IN NET ASSETS
19	NOTES TO FINANCIAL STATEMENTS
23	INDEPENDENT AUDITORS’ REPORT

This annual report must be preceded or accompanied by a prospectus of the Evergreen fund contained herein. The prospectus contains more complete information, including fees and expenses, and should be read carefully before investing or sending money.

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

Evergreen Investments^SM is a service mark of Evergreen Investment
Management Company, LLC. Copyright 2002.

Evergreen mutual funds are distributed by Evergreen Distributor, Inc.,
90 Park Avenue, 10th Floor, New York, NY 10016.


LETTER TO SHAREHOLDERS November 2002

William M. Ennis President and Chief Executive Officer	Dennis H. Ferro President and Chief Investment Officer

Dear Evergreen Shareholder,

We are pleased to provide the annual report for the Evergreen Large Company Growth Fund, which covers the 12-month period ended September 30, 2002.

Market analysis

The past 12-month period has arguably been one of the most difficult periods in the history of the equity markets. Investors have been confronted with terrorism, a slowing economy, weak earnings, accounting scandals, and the possibility of war with Iraq. In attempting to deal with each of these obstacles, the equity markets have alternately plunged and surged.

The first challenge for equity investors over the past year was the aftermath of September 11. After a significant sell-off, the equity markets soared in the fourth quarter of 2001. Low rates, mild inflation and purchase incentives propelled consumption higher, while signs of an economic rebound improved investor confidence. Solid gains, though, were quickly put into question as Enron’s financial irregularities emerged. At first, it appeared the accounting problems at Enron and its auditor, Arthur Andersen, would just be an isolated incident. But as details surfaced, and other instances of corporate misdeeds arose, investors were soon glued to their televisions watching Congressional hearings. Investor confidence fell, and the markets lost momentum.

Signs of economic strength, however, were very evident in early 2002. Improved activity was seen in manufacturing, and retail sales continued to surprise on the upside. In addition, the U.S. appeared to have attained initial success in the war against terror, as the Taliban was ousted from control in Afghanistan. All of these positives were soon lost on investors as the second quarter witnessed a stark slowdown in economic growth and the accounting scandals widened with WorldCom’s announcement of more than $3 billion in erroneous



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LETTER TO SHAREHOLDERS continued
accounting. This proved to ultimately break the spirit of investors, who began to question the veracity of all management teams throughout corporate America. As a result, performance in July was exceptionally poor, as disappointing second quarter economic statistics were accompanied by little momentum in corporate earnings. In Washington, President Bush signed the Sarbanes-Oxley Act of 2002, which among other things, required corporate CEOs and CFOs to attest to the accuracy of their financial statements on a quarterly basis. We believe this will prove to be a monumental initial step in improving investor confidence going forward.

Fears of terrorism and escalating tensions with Iraq, however, soon overwhelmed corporate credibility as the major enemies of the equity markets. Drastically reduced earnings expectations compounded investors’ fears, and by the close of the third quarter, each of the major market indexes lost more than 15% during the quarter.

We continue to project a moderate economic recovery, with gross domestic product (GDP) growth in the range of 3% through next year. Accompanying this level of growth could be continued low inflation and a Federal Reserve Board that could remain accommodating into early 2003. Moreover, this pace of recovery will likely provide investors with a return to more “normal” levels of profitability for U.S. corporations. We believe operating earnings for companies in the Standard & Poor’s 500 Index should increase in the range of 7% into next year, representing a return to historical trend rates of growth. These earnings per share (EPS) gains should be led by moderate improvement in demand, major cost cutting programs during the recession, and solid levels of productivity growth. The integrity of earnings should also be much improved.

Given this scenario, we encourage investors to remain fully diversified according to investment styles and asset classes. Proper asset allocation has proven over time to be the most successful strategy in order to participate in gains while minimizing risk. These times are challenging, and we believe the best way to position portfolios is to maintain their long-term investment strategies, paying particular attention to the investor’s time horizon. As the

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LETTER TO SHAREHOLDERS continued
financial markets become more comfortable with the fundamentals of the moderate recovery, and geopolitical risks begin to subside, we believe disciplined, long-term investors will potentially be rewarded for their patience.

Diversification remains important

An environment like the past 12 months offers many reasons for building and maintaining a diversified portfolio, rather than trying to make investment decisions based on anticipated market movements. Exposure to various types of investments should remain a key component of a well-balanced portfolio. Establishing a Systematic Investment Plan* (SIP) could be an appropriate tool to help you achieve your investment goals. As with all investment decisions, remember to consult your financial advisor to develop a strategy that will support your long-term objectives.

Please visit our newly enhanced Web site, EvergreenInvestments.com, for more information about our funds and other investment products available to you. From the Web site, you can also access our quarterly online shareholder newsletter, Evergreen Events, through the “About Evergreen Investments” menu tab. Thank you for your continuing support of Evergreen Investments.


William M. Ennis
President and Chief Executive Officer
Evergreen Investment Company, Inc.



Dennis H. Ferro
President and Chief Investment Officer
Evergreen Investment Management Company, LLC

* A regular investment program neither provides assurance of making a profit nor guarantees against loss in a declining market. You should consider your ability to make regular investments through periods of fluctuating price levels before choosing any regular investment plan.

3

FUND AT A GLANCE as of September 30, 2002

“There are many reasons to be positive about equities. Consumer spending continues to be brisk and the nation’s banking system is healthy. Interest rates remain low, and the economy continues to grow, although not vigorously. In addition, reforms are underway to restore credibility to financial statements and investment analyst reports.”

MANAGEMENT TEAM



Maureen E. Cullinane, CFA
Large Cap Core Growth Team
Lead Manager

CURRENT INVESTMENT STYLE²



PERFORMANCE AND RETURNS¹

Portfolio Inception Date: 9/11/1935
	Class A	Class B	Class C	Class I
Class Inception Date	1/20/1998	9/11/1935	1/22/1998	6/30/1999
Average Annual Returns*
1 year with sales charge	-21.21%	-21.07%	-18.73%	N/A
1 year w/o sales charge	-16.43%	-16.91%	-17.07%	-16.25%
5 year	-3.68%	-3.39%	-3.20%	-2.58%
10 year	6.94%	7.21%	7.21%	7.55%
Maximum Sales Charge	5.75%	5.00%	2.00%	N/A
	Front End	CDSC	CDSC
*Adjusted for maximum applicable sales charge, unless noted.

¹ Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The performance of each class may vary based on differences in loads, fees and expenses paid by the shareholders investing in each class. Performance includes the reinvestment of income dividends and capital gain distributions. Performance shown does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Historical performance shown for Classes A, C and I prior to their inception is based on the performance of Class B, the original class offered. The historical returns for Classes A and I have not been adjusted to reflect the effect of each class’ 12b-1 fee. These fees are 0.25% for Class A and 1.00% for Classes B and C. Class I does not pay a 12b-1 fee. If these fees had been reflected, returns for Classes A and I would have been higher.

² Source: 2002 Morningstar, Inc.

Morningstar’s Style Box is based on a portfolio date as of 9/30/2002.

The equity Style Box placement is based on a fund’s price-to-earnings and price-to-book ratio relative to the S&P 500, as well as the size of the companies in which it invests, or median market capitalization.

4

LONG-TERM GROWTH


Comparison of a $10,000 investment in Evergreen Large Company Growth Fund Class A shares,¹ versus a similar investment in the Russell 1000 Growth Index (Russell 1000 Growth) and the Consumer Price Index (CPI).

The Russell 1000 Growth is an unmanaged market index and does not include transaction costs associated with buying and selling securities, any mutual fund expenses or any taxes. The CPI is a commonly used measure of inflation and does not represent an investment return. It is not possible to invest directly in an index.

Class I shares are only offered to investment advisory clients of an investment advisor of an Evergreen fund (or its advisory affiliates), through special arrangements entered into on behalf of Evergreen funds with certain financial services firms, certain institutional investors and persons who owned Class Y shares in registered name in an Evergreen fund on or before December 31, 1994.

The fund’s investment objective is non-fundamental and may be changed without the vote of the fund’s shareholders.

Foreign investments may contain more risk due to the inherent risks associated with changing political climates, foreign market instability and foreign currency fluctuations.

All data is as of September 30, 2002, and subject to change.

5

PORTFOLIO MANAGER INTERVIEW
How did the fund perform?

The fund’s Class A shares had a total return of -16.43% for the 12-month period ended September 30, 2002, excluding any applicable sales charges. During the same period, the Russell 1000 Growth Index (Russell 1000 Growth) returned -22.51%, while the median return of funds in Lipper’s large cap growth category was -22.65%. Lipper Inc. is an independent monitor of mutual fund performance.

What was the investment environment like during the 12-month period?

The first half of the period appeared to signal the start of an economic recovery and a rebound in equities. Low interest rates, persistent consumer spending and the start of an apparent rebuilding of corporate inventories gave hope to investors. Those hopes proved short-lived however, with the major stock indexes giving back all their recent gains and plunging deeper and deeper during the second half of the fiscal period. A combination of many factors contributed to this extremely poor environment for stock investing. First, it became evident that the economic recovery was weaker than anticipated. In addition, tensions relating to terrorist threats, violence in the Middle East, and the possibility of war with Iraq all added to anxiety. Misgivings about the stock market were further encouraged by controversies surrounding accounting irregularities and executive misconduct in major corporations such as Enron, WorldCom and Tyco International and by accusations of misleading advice from the research arms of investment banks.

With all these factors combining to undermine trust in the stock market, the major market indexes plunged in the final six months of the period. The Russell 1000 Growth, for example, fell -30.91% during these six months.

PORTFOLIO CHARACTERISTICS
(as of 9/30/2002)

Total Net Assets	$423,849,308
Number of Holdings	63
Beta	1.04
R-squared	0.73
P/E Ratio	23.4x

What were your principal strategies in this difficult environment?

We focused on stable, large cap growth companies with proven management teams. In particular, we tried to emphasize companies with dominant competitive positions in their industries and records of consistent earnings growth. We avoided companies with volatile fluctuations in their earnings.

Early in the period, we recognized that technology stocks would not be the performance leaders in this environment. Technology companies had too much supply and too little demand for their products and services after the heavy investment of the late 1990s. Instead, we believed consumer-related stocks were a safer place to be. Employment levels remained reasonably high and many consumers were encouraged by low interest rates and the rising values of their homes, which sparked strong mortgage refinancing efforts. The industry groups that tended to do well included restaurant and gaming-related companies. Late in the

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PORTFOLIO MANAGER INTERVIEW continued
period, as consumer stocks reached very high valuation levels relative to the overall market, we began to cut back on our commitment to this sector.

We also overweighted energy stocks. Rising tensions in the Middle East tended to drive up oil and natural gas prices, contributing to relatively positive performance by the energy sector, particularly natural gas companies.

We maintained an allocation to healthcare stocks consistent with that of the Russell 1000 Growth. We focused on the major pharmaceutical companies, which became increasingly attractive after their stocks slumped early in the 12-month period.

Late in the period, we increased our allocation to the industrial sector, which we believed would be one of the first areas to benefit when economic growth finally began to accelerate. We did this on a stock-by-stock basis, rather than by making a major commitment to an industry group.

TOP 5 SECTORS
(as a percentage of 9/30/2002 net assets)

Health Care	21.6%
Consumer Discretionary	18.7%
Information Technology	15.9%
Industrials	15.6%
Financials	8.5%

What are some examples of stocks that illustrated your strategy and helped support the fund’s performance?

The industrial stocks tended to help, especially defense-related companies such as Lockheed Martin and Northrop Grumman that we believe should benefit from the prospect of steady increases in national defense spending.

While we de-emphasized technology versus the Russell 1000 Growth, we nevertheless continued to hold investments in

industry-leading companies that we thought would be well positioned to benefit when the industry finally started to revive. Our major investments included companies such as Microsoft, Cisco Systems, Intel and Oracle.

Among consumer-related stocks, Lowe’s held up much better than the overall market, even though its stock price fell during the period. The company continues to be a beneficiary of strong consumer spending on home improvements. In addition, stocks such as Wal-Mart and Starbucks also proved much more resilient than the overall market.

In healthcare, we had significant investments in Pfizer and Pharmacia, both of which performed well during the second half of the year and, in our opinion, should benefit under their planned merger. Medtronic, a leading manufacturer of pacemaker devices, also helped the fund’s performance.

TOP 10 HOLDINGS
(as a percentage of 9/30/2002 net assets)

Wal-Mart Stores, Inc.	3.8%
3M Co.	3.5%
General Electric Co.	3.1%
Pharmacia Corp.	2.9%
Microsoft Corp.	2.9%
Bristol-Myers Squibb Co.	2.9%
Harley-Davidson, Inc.	2.5%
Intuit, Inc.	2.4%
Lockheed Martin Corp.	2.3%
Medtronic, Inc.	2.2%

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PORTFOLIO MANAGER INTERVIEW continued
What were your major disappointments during the period?

While we de-emphasized technology throughout the period, in hindsight we should have cut our exposure sooner and more dramatically, as that industry continued to be hit by the reaction to the excesses of the late 1990s.

We also would have benefited by emphasizing healthcare stocks more, especially HMOs, hospital management and medical technology stocks.

What is your outlook for the next 12 months?

With few exceptions, stock prices have been declining since hitting a peak in March 2000. At this point, most of the excesses in stock prices have been worked out and stock prices appear increasingly attractive relative to the prices of bonds, which have rallied. There are many reasons to be positive about equities. Consumer spending continues to be brisk and the nation’s banking system is healthy. Interest rates remain low, and the economy continues to grow, although not vigorously. In addition, reforms are underway to restore credibility to financial statements and investment analyst reports.

The investing public thus far has remained skeptical, however. We believe this eventually will change as investors regain confidence in the system and start to move back into equities. We cannot predict when a change in investor sentiment may occur -- the catalyst could come at any time.

8

FINANCIAL HIGHLIGHTS (For a share outstanding throughout each period)

	Year Ended September 30,
	20021	2001	2000	19991	19981,2
CLASS A
Net asset value, beginning of period	$5.60	$12.64	$11.03	$9.67	$9.12
Income from investment operations
Net investment income (loss)	-0.02	-0.01	-0.05	-0.03	0.01
Net realized and unrealized gains or losses on securities     and foreign currency related transactions	-0.90	-4.40	3.46	2.73	0.54
Total from investment operations	-0.92	-4.41	3.41	2.70	0.55
Distributions to shareholders from
Net realized gains	0	-2.63	-1.80	-1.34	0
Net asset value, end of period	$4.68	$5.60	$12.64	$11.03	$9.67
Total return3	-16.43%	-41.80%	33.16%	30.15%	6.03%
Ratios and supplemental data
Net assets, end of period (millions)	$392	$534	$1,090	$862	$706
Ratios to average net assets
Expenses4	1.12%	1.01%	0.95%	1.00%	1.10%5
Net investment income (loss)	-0.32%	-0.15%	-0.34%	-0.29%	0.08%5
Portfolio turnover rate	163%	184%	147%	132%	141%

1.  Net investment income (loss) is based on average shares outstanding during the period. 2.  For the period from January 20, 1998 (commencement of class operations), to September 30, 1998. 3.  Excluding applicable sales charges 4.  The ratio of expenses to average net assets excludes expense reductions but includes fee waivers. 5.  Annualized
See Notes to Financial Statements

9

FINANCIAL HIGHLIGHTS (For a share outstanding throughout each period)

	Year Ended September 30,
	20021	2001	2000	19991	19981
CLASS B
Net asset value, beginning of period	$5.38	$12.34	$10.89	$9.63	$10.61
Income from investment operations
Net investment loss	-0.06	-0.02	-0.21	-0.11	-0.03
Net realized and unrealized gains or losses on securities     and foreign currency related transactions	-0.85	-4.31	3.46	2.71	0.39
Total from investment operations	-0.91	-4.33	3.25	2.60	0.36
Distributions to shareholders from
Net investment income	0	0	0	0	-0.02
Net realized gains	0	-2.63	-1.80	-1.34	-1.32
Total distributions to shareholders	0	-2.63	-1.80	-1.34	-1.34
Net asset value, end of period	$4.47	$5.38	$12.34	$10.89	$9.63
Total return2	-16.91%	-42.28%	31.99%	29.15%	3.87%
Ratios and supplemental data
Net assets, end of period (millions)	$24	$43	$86	$103	$130
Ratios to average net assets
Expenses3	1.86%	1.76%	1.71%	1.75%	1.36%
Net investment loss	-1.07%	-0.90%	-1.09%	-1.03%	-0.26%
Portfolio turnover rate	163%	184%	147%	132%	141%

1.  Net investment loss is based on average shares outstanding during the period. 2.  Excluding applicable sales charges 3.  The ratio of expenses to average net assets excludes expense reductions but includes fee waivers.
See Notes to Financial Statements

10

FINANCIAL HIGHLIGHTS (For a share outstanding throughout each period)

	Year Ended September 30,
	20021	2001	2000	19991	19981,2
CLASS C
Net asset value, beginning of period	$5.39	$12.35	$10.89	$9.63	$9.25
Income from investment operations
Net investment loss	-0.06	-0.03	-0.04	-0.12	-0.07
Net realized and unrealized gains or losses on securities     and foreign currency related transactions	-0.86	-4.30	3.30	2.72	0.45
Total from investment operations	-0.92	-4.33	3.26	2.60	0.38
Distributions to shareholders from
Net realized gains	0	-2.63	-1.80	-1.34	0
Net asset value, end of period	$4.47	$5.39	$12.35	$10.89	$9.63
Total return3	-17.07%	-42.22%	32.08%	29.15%	4.11%
Ratios and supplemental data
Net assets, end of period (thousands)	$5,491	$5,690	$7,176	$2,452	$453
Ratios to average net assets
Expenses4	1.87%	1.76%	1.71%	1.75%	1.84%5
Net investment loss	-1.06%	-0.88%	-1.11%	-1.08%	-0.80%5
Portfolio turnover rate	163%	184%	147%	132%	141%

1.  Net investment loss is based on average shares outstanding during the period. 2.  For the period from January 22, 1998 (commencement of class operations), to September 30, 1998. 3.  Excluding applicable sales charges 4.  The ratio of expenses to average net assets excludes expense reductions but includes fee waivers. 5.  Annualized
See Notes to Financial Statements

11

FINANCIAL HIGHLIGHTS (For a share outstanding throughout each period)

	Year Ended September 30,
	20021	2001	2000	19991,2
CLASS I3
Net asset value, beginning of period	$5.54	$12.51	$10.92	$11.28
Income from investment operations
Net investment loss	0	0	-0.01	0
Net realized and unrealized gains or losses on securities     and foreign currency related transactions	-0.90	-4.34	3.40	-0.36
Total from investment operations	-0.90	-4.34	3.39	-0.36
Distributions to shareholders from
Net realized gains	0	-2.63	-1.80	0
Net asset value, end of period	$4.64	$5.54	$12.51	$10.92
Total return	-16.25%	-41.65%	33.34%	-3.19%
Ratios and supplemental data
Net assets, end of period (thousands)	$2,166	$1,604	$2,602	$238
Ratios to average net assets
Expenses4	0.88%	0.76%	0.71%	0.75%5
Net investment income (loss)	-0.05%	0.11%	-0.14%	-0.10%5
Portfolio turnover rate	163%	184%	147%	132%

1.  Net investment loss is based on average shares outstanding during the period. 2.  For the period from June 30, 1999 (commencement of class operations), to September 30, 1998. 3.  Effective at the close of business on May 11, 2001, Class\x11 Y shares were renamed as Institutional shares (Class I). 4.  The ratio of expenses to average net assets excludes expense reductions but includes fee waivers. 5.  Annualized
See Notes to Financial Statements

12

SCHEDULE OF INVESTMENTS September 30, 2002

	Shares	Value
COMMON STOCKS - 96.1%
CONSUMER DISCRETIONARY - 18.7%
Automobiles - 2.5%
Harley-Davidson, Inc.	230,000	$ 10,683,500
Hotels, Restaurants & Leisure - 1.7%
Starbucks Corp. *	345,000	7,144,950
Household Durables - 0.7%
Sony Corp.	75,000	3,082,500
Media - 3.3%
Gannett Co., Inc.	110,000	7,939,800
Viacom, Inc., Class B *	150,000	6,082,500
		14,022,300
Multi-line Retail - 5.8%
Kohl’s Corp. *	110,000	6,689,100
Target Corp.	56,900	1,679,688
Wal-Mart Stores, Inc.	325,000	16,003,000
		24,371,788
Specialty Retail - 4.7%
Bed Bath & Beyond, Inc. *	254,500	8,289,065
Home Depot, Inc.	170,000	4,437,000
Lowe’s Companies, Inc.	175,000	7,245,000
		19,971,065
CONSUMER STAPLES - 5.5%
Beverages - 3.0%
Anheuser-Busch Companies, Inc.	90,000	4,554,000
Coca-Cola Co.	170,000	8,153,200
		12,707,200
Food & Drug Retailing - 1.0%
SYSCO Corp.	145,000	4,116,550
Household Products - 1.5%
Procter & Gamble Co.	70,000	6,256,600
ENERGY - 8.4%
Energy Equipment & Services - 5.2%
Baker Hughes, Inc.	190,000	5,515,700
Nabors Industries, Ltd. *	160,000	5,240,000
Rowan Co., Inc.	124,800	2,326,272
Schlumberger, Ltd.	100,000	3,846,000
Weatherford International, Ltd. *	134,400	4,991,616
		21,919,588
Oil & Gas - 3.2%
Anadarko Petroleum Corp.	110,000	4,899,400
Apache Corp.	149,100	8,863,995
		13,763,395
See Notes to Financial Statements

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SCHEDULE OF INVESTMENTS continued

	Shares	Value
FINANCIALS - 8.5%
Banks - 2.5%
Bank of America Corp.	70,000	$   4,466,000
Mellon Financial Corp.	160,000	4,148,800
U.S. Bancorp	111,000	2,062,380
10,677,180
Diversified Financials - 4.2%
American Express Co.	130,000	4,053,400
Citigroup, Inc.	170,000	5,040,500
Freddie Mac	75,000	4,192,500
SLM Corp.	50,000	4,657,000
17,943,400
Insurance - 1.8%
American International Group, Inc.	135,312	7,401,566
HEALTH CARE - 21.6%
Health Care Equipment & Supplies - 5.9%
Biomet, Inc.	145,000	3,861,350
Medtronic, Inc.	224,300	9,447,516
Saint Jude Medical, Inc. *	165,000	5,890,500
Stryker Corp.	100,000	5,760,000
24,959,366
Health Care Providers & Services - 4.2%
Aetna, Inc.	165,000	5,908,650
Cardinal Health, Inc.	70,000	4,354,000
HCA-The Healthcare Corp.	160,000	7,617,600
17,880,250
Pharmaceuticals - 11.5%
Bristol-Myers Squibb Co.	510,000	12,138,000
Eli Lilly & Co.	45,000	2,490,300
Johnson & Johnson Co.	90,000	4,867,200
Pfizer, Inc.	300,000	8,706,000
Pharmacia Corp.	320,000	12,441,600
Wyeth	250,000	7,950,000
48,593,100
INDUSTRIALS - 15.6%
Aerospace & Defense - 6.0%
Lockheed Martin Corp.	150,000	9,700,500
Northrop Grumman Corp.	70,000	8,682,800
United Technologies Corp.	125,000	7,061,250
25,444,550
Industrial Conglomerates - 6.6%
3M Co.	135,000	14,845,950
General Electric Co.	526,300	12,973,295
27,819,245
See Notes to Financial Statements

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SCHEDULE OF INVESTMENTS continued

	Shares	Value
Machinery - 3.0%
Deere & Co.	150,000	$   6,817,500
Illinois Tool Works, Inc.	105,000	6,124,650
12,942,150
INFORMATION TECHNOLOGY - 15.9%
Communications Equipment - 2.0%
Cisco Systems, Inc. *	805,000	8,436,400
Computers & Peripherals - 2.8%
Dell Computer Corp. *	125,000	2,938,750
International Business Machines Corp.	95,000	5,547,050
Lexmark International Group, Inc., Class A *	75,000	3,525,000
12,010,800
IT Consulting & Services - 1.8%
Affiliated Computer Services, Inc., Class A *	175,000	7,446,250
Semiconductor Equipment & Products - 2.4%
Intel Corp.	400,000	5,556,000
Texas Instruments, Inc.	320,000	4,726,400
10,282,400
Software - 6.9%
Intuit, Inc. *	220,000	10,016,600
Microsoft Corp. *	280,000	12,247,200
Oracle Corp. *	655,000	5,148,300
Veritas Software Corp. *	125,000	1,838,750
29,250,850
MATERIALS - 1.9%
Chemicals - 1.9%
PPG Industries, Inc.	65,100	2,909,970
Praxair, Inc.	100,000	5,111,000
8,020,970
Total Common Stocks		407,147,913
SHORT-TERM INVESTMENTS - 3.0%
MUTUAL FUND SHARES - 3.0%
Evergreen Institutional U.S. Government Money Market Fund (o)	12,803,989	12,803,989
Total Investments - (cost $489,238,387) - 99.1%		419,951,902
Other Assets and Liabilities - 0.9%		3,897,406
Net Assets - 100.0%		$   423,849,308
* Non-income producing security (o) The advisor of the fund and the advisor of the money market fund are each a subsidiary Wachovia Corporation.
See Notes to Financial Statements

15

STATEMENT OF ASSETS AND LIABILITIES September 30, 2002

Assets
Identified cost of securities	$ 489,238,387
Net unrealized losses on securities	(69,286,485)
Market value of securities	419,951,902
Receivable for securities sold	5,512,791
Receivable for Fund shares sold	41,368
Dividends and interest receivable	302,983
Prepaid expenses and other assets	79,077
Total assets	425,888,121
Liabilities
Payable for securities purchased	1,211,876
Payable for Fund shares redeemed	643,216
Advisory fee payable	6,210
Distribution Plan expenses payable	3,558
Due to other related parties	1,181
Accrued expenses and other liabilities	172,772
Total liabilities	2,038,813
Net assets	$ 423,849,308
Net assets represented by
Paid-in capital	$ 673,890,196
Undistributed net investment loss	(39,971)
Accumulated net realized losses on securities     and foreign currency related transactions	(180,714,432)
Net unrealized losses on securities	(69,286,485)
Total net assets	$ 423,849,308
Net assets consists of
Class A	$ 391,987,821
Class B	24,204,663
Class C	5,491,302
Class I	2,165,522
Total net assets	$ 423,849,308
Shares outstanding
Class A	83,726,467
Class B	5,414,391
Class C	1,227,253
Class I	466,207
Net asset value per share
Class A	$ 4.68
Class A -- Offering price (based on sales charge of 5.75%)	$ 4.97
Class B	$ 4.47
Class C	$ 4.47
Class I	$ 4.64
See Notes to Financial Statements

16

STATEMENT OF OPERATIONS Year Ended September 30, 2002

Investment income
Dividends (net of foreign withholding taxes of $1,093)	$ 4,120,214
Interest	394,054
Total investment income	4,514,268
Expenses
Advisory fee	2,783,259
Distribution Plan expenses
Class A	1,300,017
Class B	376,439
Class C	67,612
Administrative services fees	566,212
Transfer agent fee	1,216,598
Trustees’ fees and expenses	7,905
Printing and postage expenses	80,212
Custodian fee	134,366
Registration and filing fees	68,686
Professional fees	20,437
Other	23,455
Total expenses	6,645,198
Less: Expense reductions	(5,970)
Net expenses	6,639,228
Net investment loss	(2,124,960)
Net realized and unrealized losses on securities     and foreign currency related transactions
Net realized gains or losses on:
Securities	(28,692,415)
Foreign currency related transactions	5,765
Net realized losses on securities and foreign     currency related transactions	(28,686,650)
Net change in unrealized gains or losses on securities     and foreign currency related transactions	(49,918,201)
Net realized and unrealized losses on securities     and foreign currency related transactions	(78,604,851)
Net decrease in net assets resulting from operations	$ (80,729,811)
See Notes to Financial Statements

17

STATEMENT OF CHANGES IN NET ASSETS

	Year Ended September 30,
	2002		2001
Operations
Net investment loss		$ (2,124,960)		$ (1,739,454)
Net realized losses on securities and     foreign currency related transactions		(28,686,650)		(122,216,369)
Net change in unrealized gains or losses     on securities and foreign currency
related transactions		(49,918,201)		(336,074,251)
Net decrease in net assets resulting from operations		(80,729,811)		(460,030,074)
Distributions to shareholders from
Net realized gains
Class A		0		(218,306,158)
Class B		0		(17,952,726)
Class C		0		(1,747,989)
Class I*		0		(525,166)
Total distributions to shareholders		0		(238,532,039)
	Shares		Shares
Capital share transactions
Proceeds from shares sold
Class A	3,237,108	17,929,700	3,979,160	31,272,813
Class B	1,352,261	7,517,365	2,014,366	15,432,743
Class C	607,698	3,454,183	623,962	4,978,932
Class I*	260,220	1,450,087	160,132	1,246,297
		30,351,335		52,930,785
Net asset value of shares issued in     reinvestment of distributions
Class A	0	0	22,795,360	190,797,162
Class B	0	0	1,996,379	16,190,608
Class C	0	0	199,263	1,616,024
Class I*	0	0	63,158	522,319
		0		209,126,113
Automatic conversion of Class B
shares to Class A shares
Class A	2,178,394	13,567,780	90,507	700,256
Class B	(2,272,793)	(13,567,780)	(93,454)	(700,256)
		0		0
Payment for shares redeemed
Class A	(17,113,422)	(98,381,090)	(17,676,457)	(139,726,800)
Class B	(1,737,565)	(9,434,332)	(2,848,196)	(21,147,089)
Class C	(436,094)	(2,378,193)	(348,533)	(2,444,883)
Class I*	(83,567)	(497,771)	(141,754)	(1,079,076)
		(110,691,386)		(164,397,848)
Net increase (decrease) in net assets resulting     from capital share transactions		(80,340,051)		97,659,050
Total decrease in net assets		(161,069,862)		(600,903,063)
Net assets
Beginning of period		584,919,170		1,185,822,233
End of period		$ 423,849,308		$ 584,919,170
Undistributed net investment loss		$ (39,971)		$ (130,702)
* Effective at the close of business on May 11, 2001, Class Y shares were renamed as Institutional shares (Class I).
See Notes to Financial Statements

18

NOTES TO FINANCIAL STATEMENTS
1. ORGANIZATION

Evergreen Large Company Growth Fund (the “Fund”) is a diversified series of Evergreen Equity Trust (the “Trust”), a Delaware business trust organized on September 18, 1997. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”).

The Fund offers Class A, Class B, Class C and Institutional (“Class I”) shares. Class A shares are sold with a front-end sales charge. Class B and Class C shares are sold without a front-end sales charge, but pay a higher ongoing distribution fee than Class A and are sold subject to a contingent deferred sales charge that is payable upon redemption and decreases depending on how long the shares have been held. Class I shares are sold without a front-end sales charge or contingent deferred sales charge.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of its financial statements. The policies are in conformity with generally accepted accounting principles, which require management to make estimates and assumptions that affect amounts reported herein. Actual results could differ from these estimates.

a. Valuation of investments

Listed equity securities are usually valued at the last sales price reported on the national securities exchange where the securities are principally traded.

Foreign securities traded on an established exchange are valued at the last sales price on the exchange where the security is primarily traded. If there has been no sale, the securities are valued at the mean between bid and asked prices.

Short-term securities with remaining maturities of 60 days or less at the time of purchase are valued at amortized cost, which approximates market value.

Investments in other mutual funds are valued at net asset value. Securities for which market quotations are not available are valued at fair value as determined in good faith, according to procedures approved by the Board of Trustees.

b. Foreign currency translation

All assets and liabilities denominated in foreign currencies are translated in U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for that portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gains or losses on securities.

19

NOTES TO FINANCIAL STATEMENTS continued
c. Securities lending

The Fund may lend its securities to certain qualified brokers in order to earn additional income. The Fund receives compensation in the form of fees or interest earned on the investment of any cash collateral received. The Fund receives collateral in the form of cash or securities with a market value at least equal to the market value of the securities on loan, including accrued interest. In the event of default or bankruptcy by the borrower, the Fund could experience delays and costs in recovering the loaned securities or in gaining access to the collateral.

d. Security transactions and investment income

Security transactions are recorded no later than one business day after the trade date. Realized gains and losses are computed using the specific cost of the security sold. Interest income is recorded on the accrual basis and includes accretion of discounts and amortization of premiums. Dividend income is recorded on the ex-dividend date or in the case of some foreign securities, on the date when the Fund is made aware of the dividend. Foreign income and capital gains realized on some securities may be subject to foreign taxes, which are accrued as applicable.

e. Federal taxes

The Fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income, including any net capital gains (which have already been offset by available capital loss carryovers). Accordingly, no provision for federal taxes is required.

f. Distributions

Distributions to shareholders from net investment income and net realized gains are recorded on the ex-dividend date. Such distributions are determined in conformity with income tax regulations, which may differ from generally accepted accounting principles.

Reclassifications have been made to the Fund’s components of net assets to reflect income and gains available for distribution (or available capital loss carryovers, as applicable) under income tax regulations. The primary permanent differences causing such reclassifications are due to net operating losses.

g. Class allocations

Income, common expenses and realized and unrealized gains and losses are allocated to the classes based on the relative net assets of each class. Distribution fees, if any, are calculated daily at the class level based on the appropriate net assets of each class and the specific expense rates applicable to each class.

3. ADVISORY FEES AND OTHER TRANSACTIONS WITH AFFILIATES

Evergreen Investment Management Company, LLC (“EIMC”), an indirect, wholly-owned subsidiary of Wachovia Corporation (“Wachovia”) (formerly First Union Corporation), is the investment advisor to the Fund and is paid a fee starting at 0.61% and declining to 0.26% as average daily net assets increase.

20

NOTES TO FINANCIAL STATEMENTS continued
Evergreen Investment Services, Inc. (“EIS”), an indirect, wholly-owned subsidiary of Wachovia, is the administrator to the Fund. As administrator, EIS provides the Fund with facilities, equipment and personnel and is paid an annual administrative fee of 0.10% of the Fund’s average daily net assets.

Evergreen Service Company, LLC (“ESC”), an indirect, wholly-owned subsidiary of Wachovia, is the transfer and dividend disbursing agent for the Fund.

The Fund has placed a portion of its portfolio transactions with brokerage firms that are affiliates of Wachovia. During the year ended September 30, 2002, the Fund paid brokerage commissions of $761,968 to Wachovia Securities, Inc.

4. DISTRIBUTION PLAN

Evergreen Distributor, Inc. (“EDI”), a wholly owned subsidiary of BISYS Fund Services, Inc., serves as principal underwriter to the Fund.

The Fund has adopted Distribution Plans, as allowed by Rule 12b-1 of the 1940 Act, for each class of shares, except Class I. Under the Distribution Plans, distribution fees are paid at an annual rate of 0.25% of the average daily net assets for Class A shares and 1.00% of the average daily net assets for Class B and Class C shares.

5. SECURITIES TRANSACTIONS

Cost of purchases and proceeds from sales of investment securities (excluding short-term securities) were $879,294,663 and $942,272,666, respectively, for the year ended September 30, 2002.

The Fund loaned securities during the year ended September 30, 2002 to certain brokers. During the year ended September 30, 2002, the Fund earned $98,979 in income from securities lending. As of September 30, 2002, the Fund had no securities on loan.

On September 30, 2002, the aggregate cost of securities for federal income tax purposes was $493,976,528. The gross unrealized appreciation and depreciation on securities based on tax cost was $12,096,441 and $86,121,067, respectively, with a net unrealized depreciation of $74,024,626.

As of September 30, 2002, the Fund had $153,279,782 in capital loss carryovers for federal income tax purposes expiring in 2010.

For income tax purposes, capital losses incurred after October 31 within the Fund’s fiscal year are deemed to arise on the first business day of the following fiscal year. The Fund has incurred and will elect to defer post October losses of $22,696,509.

6. INTERFUND LENDING

Pursuant to an Exemptive Order issued by the SEC, the Fund, along with other certain funds in the Evergreen fund family may participate in an interfund lending program. This program allows the funds to borrow from, or lend money to, other participating funds.

21

NOTES TO FINANCIAL STATEMENTS continued
During the year ended September 30, 2002, the Fund did not participate in the interfund lending program.

7. DISTRIBUTIONS TO SHAREHOLDERS

As of September 30, 2002, the components of distributable earnings on a tax basis were as follows:

Overdistributed Ordinary Income	Unrealized Depreciation	Capital Loss Carryforward and Post-October Loss
$ 39,971	$ 74,024,626	$ 175,976,291

The differences between the components of distributable earnings on a tax basis and the amounts reflected in the Statement of Assets and Liabilities are primarily due to wash sales.

8. EXPENSE REDUCTIONS

Through expense offset arrangements with ESC and the Fund’s custodian, a portion of fund expenses has been reduced. The Fund received expense reductions from expense offset arrangements of $5,970 which represents 0.00% of its average net assets.

9. DEFERRED TRUSTEES’ FEES

Each independent Trustee of the Fund may defer any or all compensation related to performance of their duties as Trustees. The Trustees’ deferred balances are allocated to deferral accounts, which are included in the accrued expenses for the Fund. The investment performance of the deferral accounts are based on the investment performance of certain Evergreen funds. Any gains earned or losses incurred in the deferral accounts are reported in the Fund’s Trustees’ fees and expenses. At the election of the Trustees, the deferral account will be paid either in one lump sum or in quarterly installments for up to ten years.

10. FINANCING AGREEMENT

The Fund and certain other Evergreen funds share in a $150 million unsecured revolving credit commitment for temporary and emergency purposes, including the funding of redemptions, as permitted by each Fund’s borrowing restrictions. Borrowings under this facility bear interest at 0.50% per annum above the Federal Funds rate. All of the participating funds are charged an annual commitment fee of 0.09% of the unused balance, which is allocated pro rata.

During the year ended September 30, 2002, the Fund had no borrowings under this agreement.

11. CHANGE IN ACCOUNTING PRINCIPLE

As required, effective October 1, 2001, the Fund has adopted the provisions of the AICPA Audit and Accounting Guide, Audits of Investment Companies, which amends certain accounting practices and disclosures, including amortization of premiums and accretion of discounts. Accordingly, the Fund began amortizing premium and accreting discount on all fixed-income securities. Prior to October 1, 2001, the Fund did not hold any fixed-income securities. As a result, adoption of this accounting principle has no impact to the Fund’s financial statements.

22

INDEPENDENT AUDITORS’ REPORT
Board of Trustees and Shareholders
Evergreen Equity Trust

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of the Evergreen Large Company Growth Fund, a portfolio of Evergreen Equity Trust, as of September 30, 2002, and the related statement of operations for the year then ended, statements of changes in net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years or periods in the five-year period then ended. These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform our audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of September 30, 2002 by correspondence with the custodian. As to securities purchased or sold but not yet received or delivered, we performed other appropriate auditing procedures. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Evergreen Large Company Growth Fund as of September 30, 2002, and the results of its operations, changes in its net assets, and financial highlights for each of the years or periods described above in conformity with accounting principles generally accepted in the United States of America.

Boston, Massachusetts
November 1, 2002

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26

OFFICERS
William M. Ennis† President DOB: 6/26/1960 Term of office since: 1999	President and Chief Executive Officer, Evergreen Investment Company, Inc. and Chief Operating Officer, Capital Management Group, Wachovia Bank, N.A.
Carol Kosel†† Treasurer DOB: 12/25/1963 Term of office since: 1999	Senior Vice President, Evergreen Investment Services, Inc. and Treasurer, Vestaur Securities, Inc.; former Senior Manager, KPMG LLP.
Michael H. Koonce†† Secretary DOB: 4/20/1960 Term of office since: 2000	Senior Vice President and General Counsel, Evergreen Investment Services, Inc.; Senior Vice President and Assistant General Counsel, Wachovia Corporation; former Senior Vice President and General Counsel, Colonial Management Associates, Inc.; former Vice President and Counsel, Colonial Management Associates, Inc.
Nimish S. Bhatt††† Vice President and Assistant Treasurer DOB: 6/6/1963 Term of office since: 1998	Vice President, Tax, BISYS Fund Services; former Assistant Vice President, EAMC/First Union National Bank; former Senior Tax Consulting/Acting Manager, Investment Companies Group, PricewaterhouseCoopers LLP, New York.
Bryan Haft††† Vice President DOB: 1/23/1965 Term of office since: 1998	Team Leader, Fund Administration, BISYS Fund Services.
† The address of the Officer is 401 S. Tryon Street, 20th Floor, Charlotte, NC 28288. †† The address of the Officer is 200 Berkeley Street, Boston, MA 02116. ††† The address of the Officer is 3435 Stelzer Road, Columbus, OH 43219.

27

BOARD OF TRUSTEES*
Charles A. Austin III Trustee DOB: 10/23/1934 Term of office since: 1991	Principal occupations: Investment Counselor, Anchor Capital Advisors, Inc. (investment advice); Director, The Andover Companies (insurance); Trustee, Arthritis Foundation of New England; The Francis Ouimet Society; Former Investment Counselor, Appleton Partners, Inc. (investment advice); Former Director, Executive Vice President and Treasurer, State Street Research & Management Company (investment advice); Former Director, Health Development Corp. (fitness-wellness centers); Former Director, Mentor Income Fund, Inc.; Former Trustee, Mentor Funds and Cash Resource Trust. Other directorships: None
K. Dun Gifford Trustee DOB: 10/23/1938 Term of office since: 1974	Principal occupations: Chairman and President, Oldways Preservation and Exchange Trust (education); Trustee, Treasurer and Chairman of the Finance Committee, Cambridge College; Former Managing Partner, Roscommon Capital Corp.; Former Chairman of the Board, Director, and Executive Vice President, The London Harness Company (leather goods purveyor); Former Chairman, Gifford, Drescher & Associates (environmental consulting); Former Director, Mentor Income Fund, Inc.; Former Trustee, Mentor Funds and Cash Resource Trust. Other directorships: None
Leroy Keith, Jr. Trustee DOB: 2/14/1939 Term of office since: 1983	Principal occupations: Partner, Stonington Partners, Inc. (private investment firm); Trustee of Phoenix Series Fund, Phoenix Multi-Portfolio Fund, and The Phoenix Big Edge Series Fund; Former Chairman of the Board and Chief Executive Officer, Carson Products Company (manufacturing); Former Director of Phoenix Total Return Fund and Equifax, Inc. (worldwide information management); Former President, Morehouse College; Former Director, Mentor Income Fund, Inc.; Former Trustee, Mentor Funds and Cash Resource Trust. Other directorships: Trustee, Phoenix Series Fund, Phoenix Multi-Portfolio Fund, and The Phoenix Big Edge Series Fund
Gerald M. McDonnell Trustee DOB: 7/14/1939 Term of office since: 1988	Principal occupations: Sales Manager, SMI-STEEL - South Carolina (steel producer); Former Sales and Marketing Management, Nucor Steel Company; Former Director, Mentor Income Fund, Inc.; Former Trustee, Mentor Funds and Cash Resource Trust. Other directorships: None
Thomas L. McVerry Trustee DOB: 8/2/1938 Term of office since: 1993	Principal occupations: Director of Carolina Cooperative Credit Union; Former Director, Mentor Income Fund, Inc.; Former Trustee, Mentor Funds and Cash Resource Trust. Other directorships: None
William Walt Pettit Trustee DOB: 8/26/1955 Term of office since: 1984	Principal occupations: Partner and Vice President in the law firm of Kellam & Pettit, P.A.; Former Director, Mentor Income Fund, Inc.; Former Trustee, Mentor Funds and Cash Resource Trust. Other directorships: None

28

BOARD OF TRUSTEES* continued
David M. Richardson Trustee DOB: 9/19/1941 Term of office since: 1982	Principal occupations: President, Richardson, Runden & Company (new business development/consulting company); Managing Director, Kennedy Information, Inc. (executive recruitment information and research company); Trustee, 411 Technologies, LLP (communications); Director, J&M Cumming Paper Co. (paper merchandising); Columnist, Commerce and Industry Association of New Jersey; Former Vice Chairman, DHR International, Inc. (executive recruitment); Former Senior Vice President, Boyden International Inc. (executive recruitment); Former Director, Mentor Income Fund, Inc.; Former Trustee, Mentor Funds and Cash Resource Trust. Other directorships: None
Russell A. Salton III, MD Trustee DOB: 6/2/1947 Term of office since: 1984	Principal occupations: Medical Director, Healthcare Resource Associates, Inc.; Former Medical Director, U.S. Health Care/Aetna Health Services; Former Consultant, Managed Health Care; Former President, Primary Physician Care; Former Director, Mentor Income Fund, Inc.; Former Trustee, Mentor Funds and Cash Resource Trust. Other directorships: None
Michael S. Scofield Trustee DOB: 2/20/1943 Term of office since: 1984	Principal occupations: Attorney, Law Offices of Michael S. Scofield; Former Director, Mentor Income Fund, Inc.; Former Trustee, Mentor Funds and Cash Resource Trust. Other directorships: None
Richard J. Shima Trustee DOB: 8/11/1939 Term of office since: 1993	Principal occupations: Independent Consultant; Director, Trust Company of CT; Trustee, Saint Joseph College (CT); Director of Hartford Hospital, Old State House Association; Trustee, Greater Hartford YMCA; Former Chairman, Environmental Warranty, Inc. (insurance agency); Former Executive Consultant, Drake Beam Morin, Inc. (executive outplacement); Former Director of Enhance Financial Services, Inc.; Former Director of CTG Resources, Inc. (natural gas); Former Director Middlesex Mutual Assurance Company; Former Chairman, Board of Trustees, Hartford Graduate Center; Former Director, Mentor Income Fund, Inc.; Former Trustee, Mentor Funds and Cash Resource Trust. Other directorships: None
Richard K. Wagoner, CFA** Trustee DOB: 12/12/1937 Term of office since: 1999	Principal occupations: Current Member and Former President, North Carolina Securities Traders Association; Member, Financial Analysts Society; Former Chief Investment Officer, Executive Vice President and Head of Capital Management Group, First Union National Bank; Former Consultant to the Boards of Trustees of the Evergreen Funds; Former Member, New York Stock Exchange; Former Trustee, Mentor Funds and Cash Resource Trust. Other directorships: None
* Each Trustee serves until a successor is duly elected or qualified or until his death, resignation, retirement or removal from office. The address of each Trustee is 200 Berkeley Street, Boston, MA 02116. Each Trustee oversees 105 Evergreen funds. ** Mr. Wagoner is an “interested person” of the fund because of his ownership of shares in Wachovia Corporation (formerly First Union Corporation), the parent to the fund’s investment advisor. Additional information about the fund’s Board of Trustees can be found in the Statement of Additional Information (SAI) and is available upon request without charge by calling 800.343.2898.

29

Investments that stand the test of time

Year in and year out, Evergreen Investments seeks to provide each client with sound, time-tested investment strategies designed for sustainable long-term success. With $213 billion* in assets under management, we manage diverse investments from institutional portfolios to mutual funds, variable annuities to retirement plans, alternative investments to private accounts. Our commitment to every one of our clients is reflected in the rigor and discipline with which we manage investments.

We offer a complete family of mutual funds designed to help investors meet a wide range of financial goals. From money market funds that meet short-term needs to international funds that involve greater risk but seek potentially higher returns, Evergreen provides a broad array of flexible investment options. Across all investment styles, we are committed to providing investors with investment excellence day after day, quarter after quarter and year after year.

*As of September 30, 2002

Visit us online at EvergreenInvestments.com

FOR MORE INFORMATION
Evergreen Express Line 800.346.3858
Evergreen Investor Services 800.343.2898


The Dalbar Mutual Fund Service Award symbolizes the achievement
of the highest tier of service to shareholders within the mutual fund
industry. It is awarded only to firms that exceed industry norms in key
service areas. Evergreen Investments was measured against 62 mutual
fund service providers.

563828 11/2002

Evergreen Investments
200 Berkeley Street
Boston, MA 02116-5034