- -----------------------------------------------------------------------

EVERGREEN INTERNATIONAL/GLOBAL GROWTH FUNDS           October 1, 1996
- -----------------------------------------------------------------------


EVERGREEN INTERNATIONAL EQUITY FUND

Class Y Shares
Class A Shares
Class B Shares
Class C Shares


Supplement to Prospectuses dated May 17, 1996


         In  connection  with  approval  of the  selection  of  Warburg,  Pincus
Counsellors, Inc. ("Warburg") as the Sub-Adviser for the Evergreen International
Equity Fund (the "Fund") and approval of the sub-advisory  agreement relating to
the Fund  between  Warburg  and the  Capital  Management  Group  of First  Union
National Bank of North Carolina  ("CMG"),  the Fund's investment  adviser,  at a
Special Meeting of Shareholders held on October 1, 1996, the following  sections
in the Prospectuses of the Evergreen International/Global Growth Funds dated May
17, 1996, have been amended:

Description of the Funds -- Investment Objectives and Policies (page 10)

         The reference to Boston International  Advisers, Inc. in the first line
of the second paragraph of the segment  relating to the Evergreen  International
Equity Fund has been replaced with Warburg, Pincus Counsellors, Inc.


Management of the Funds -- Investment Advisers (page 19)

The following paragraphs in this section have been amended:

Paragraph One:     Warburg,  Pincus Counsellors,  Inc. ("Warburg") has replaced
Boston International  Advisers, Inc. ("BIA") as the sub-adviser to the Evergreen
International  Equity Fund.  

Paragraph Four:    The reference to "BIA" in the first line has been replaced 
with "Warburg".

Paragraph  Five:   The third  sentence  has been  deleted and the  following
substituted therefor:

         CMG  has  agreed  to  pay  Warburg,   the   sub-adviser   to  Evergreen
         International  Equity  Fund,  a fee  equal to .55 of 1% of the  average
         daily net assets of the Fund on an annual basis.







Paragraph Nine:    This  paragraph  has  been  deleted  and  the  following
substituted therefor:

         The portfolio managers for the Evergreen  International Equity Fund are
         Richard Wagoner,  Executive Vice President, Chief Investment Officer of
         CMG since 1973 and a Director of Evergreen Asset Management Corp. since
         1994,  together with Vincent J. McBride, an associate portfolio manager
         and research  analyst of the Warburg  Emerging Markets Fund and Warburg
         International Equity Fund who, prior to joining Warburg in 1994, was an
         international equity analyst at Smith Barney Inc. from 1993 to 1994, at
         General  Electric  Investment  Corporation  from  1992 to  1993,  and a
         portfolio manager/analyst at United Jersey Bank from 1989 to 1992.


Management of the Funds -- Sub-Advisers (page 21)

The third  paragraph under this section has been deleted in its entirety and the
following substituted therefor:

     Warburg, the  sub-adviser to the Evergreen  International  Equity Fund, was
          incorporated in 1970 and is located at 466 Lexington Avenue, New York,
          New York. Warburg is a professional  investment counselling firm which
          provides investment services to investment companies, employee benefit
          plans,  endowment  funds,   foundations  and  other  institutions  and
          individuals,  and has broad experience in advising international funds
          and  assisting  such  funds  in   diversifying   their   international
          portfolios on a country-by-country basis. The Directors of Warburg are
          Lionel I. Pincus,  Chief Executive Officer,  John L. Furth,  Chairman,
          and John L.  Vogelstein.  E.M.  Warburg  Pincus & Co.,  Inc.  controls
          Warburg.  As of June 30, 1996, Warburg was managing  approximately $16
          billion of assets,  including approximately $9.6 billion of investment
          company assets.