SUPPLEMENT TO THE PROSPECTUSES AND
                   STATEMENTS OF ADDITIONAL INFORMATION (SAIs)
                                       OF
                         EVERGREEN DOMESTIC GROWTH FUNDS
                 EVERGREEN INTERNATIONAL AND GLOBAL GROWTH FUNDS
                  EVERGREEN SOUTHERN STATE MUNICIPAL BOND FUNDS
                                  MENTOR FUNDS
                                  SECTOR FUNDS

I.       Evergreen International and Global Growth Funds

         Effective April 2, 2001, the sections of the prospectus  entitled "FUND
FACTS - PORTFOLIO  MANAGERS" and "THE FUNDS'  PORTFOLIO  MANAGERS" for Evergreen
Perpetual Global Fund and Evergreen Perpetual  International Fund are revised to
add Jeffrey Taylor and to remove Margaret Roddan and Ian Brady. In addition, the
following  paragraph is added under the section  entitled "THE FUNDS'  PORTFOLIO
MANAGERS" for each Fund:

         Jeffrey  Taylor  has been the  European  Team  Leader of the Fund since
April 2001.  Mr. Taylor has been a portfolio  manager with  Perpetual  Portfolio
Management  Limited  (PPM)  since June 1997.  From 1987 until he joined  PPM, he
managed  European  assets  for  Dillon  Read  Securities.  Mr.  Taylor  has been
affiliated with Mentor Perpetual since April 2001.

         Effective April 27, 2001, the sections of the prospectus entitled "FUND
FACTS - PORTFOLIO  MANAGERS" and "THE FUNDS'  PORTFOLIO  MANAGERS" for Evergreen
Emerging  Markets Fund and  Evergreen  Latin  America Fund are revised to remove
Antonio  Docal.  Liu-Er  Chen will  continue  to manage the  Evergreen  Emerging
Markets Fund. Dan Savyckyj is added as portfolio  manager to the Evergreen Latin
America Fund. The following  paragraph is added under the section  entitled "THE
FUNDS' PORTFOLIO MANAGERS":

         Dan Savyckyj has been the  portfolio  manager of the Fund and with EIMC
since April 2001.  Mr.  Savyckyj  has been an analyst  with EIMC since  February
2000.  From October 1997 until he joined EIMC, Mr.  Savyckyj was an analyst with
Baring Asset Management.

II.      Evergreen Domestic Growth Funds

         Effective April 16, 2001, the sections of the prospectus entitled "FUND
FACTS - PORTFOLIO  MANAGERS" and "THE FUND'S  PORTFOLIO  MANAGERS" for Evergreen
Premier 20 Fund are revised to designate  Patricia  Bannan as the lead portfolio
manager for the Fund.  Donald Bisson will continue to be a portfolio manager for
the Fund.

III.     Evergreen  Domestic Growth Funds,  Evergreen  International  and Global
Growth Funds, Mentor Funds and Evergreen Southern State Municipal Bond Funds

         Effective  May  11,  2001,  Evergreen  Masters  Fund,  Evergreen  Stock
Selector  Fund,  Evergreen  Reserve  Money Market Fund,  Evergreen  Reserve U.S.
Government Money Market Fund, Evergreen Florida High Income Municipal Bond Fund,
Evergreen  Florida  Municipal Bond Fund,  Evergreen Georgia Municipal Bond Fund,
Evergreen Maryland Municipal Bond Fund,  Evergreen North Carolina Municipal Bond
Fund,  Evergreen  South  Carolina  Municipal  Bond Fund and  Evergreen  Virginia
Municipal Bond Fund (collectively, the "Funds") will change investment advisors.
There will be no change in either the  portfolio  manager(s) of the Funds or the
advisory fees paid by the Funds.  In conjunction  with the above,  the following
revisions apply to the Funds' prospectuses and SAIs.

         Evergreen  Domestic Growth Funds,  Mentor Funds and Evergreen  Southern
State Municipal Bond Funds

         The section of each Fund's prospectus  entitled "FUND FACTS" is revised
as follows:

         Investment Advisor

         o Evergreen Investment Management Company, LLC

         The  section  entitled  "THE FUNDS'  INVESTMENT  ADVISOR" is revised as
follows:



         Evergreen  Investment  Management Company, LLC (EIMC) is the investment
         advisor to the Funds.  EIMC has been managing  mutual funds and private
         accounts since 1932 and currently  manages over $21.7 billion in assets
         for 59 of the Evergreen Funds.  EIMC is located at 200 Berkeley Street,
         Boston, Massachusetts 02116-5034.

         For Masters Fund,  all  references to Evergreen  Investment  Management
(EIM) in the section entitled "Masters Fund Manager Oversight" under "THE FUNDS'
PORTFOLIO MANAGERS" shall now reference EIMC.

         The section in part one of each  Fund's SAI  entitled  "Advisory  Fees"
under "EXPENSES" is revised as follows:

         Evergreen  Investment  Management Company, LLC (EIMC) is the investment
advisor to the Funds.

         Evergreen International and Global Growth Funds:

         Effective May 11, 2001,  Evergreen  Emerging  Markets  Growth Fund will
change  investment  advisor.  There  will be no change in either  the  portfolio
manager(s)  of the Fund or the advisory  fees paid by the Fund.  In  conjunction
with the above, the following  revisions apply to the Fund's prospectus and SAI.
The  section  of the  Fund's  prospectus  entitled  "FUND  FACTS" is  revised as
follows:

         Investment Advisor

         o Evergreen Investment Management Company, LLC

         The  section  entitled  "THE FUND'S  INVESTMENT  ADVISOR" is revised as
follows:

         Evergreen  Investment  Management Company, LLC (EIMC) is the investment
advisor to:
         o Emerging Markets Growth Fund
         o Global Leaders Fund
         o Global Opportunities Fund
         o International Growth Fund
         o Latin America Fund
         o Precious Metals Fund

         EIMC has been managing mutual funds and private accounts since 1932 and
         currently  manages over $21.7 billion in assets for 59 of the Evergreen
         Funds.  EIMC is located at 200 Berkeley Street,  Boston,  Massachusetts
         02116-5034.

         The  section  in part one of the Fund's SAI  entitled  "Advisory  Fees"
under "EXPENSES" is revised as follows:

         Evergreen  Investment  Management Company, LLC (EIMC) is the investment
advisor  to  Emerging   Markets  Growth  Fund,   Global  Leaders  Fund,   Global
Opportunities Fund,  International  Growth Fund, Latin America Fund and Precious
Metals Fund.

         All  references to EIMC serving as  sub-advisor  to Evergreen  Emerging
Markets Growth Fund in the prospectus and SAI are removed.

IV.      Evergreen  Domestic Growth Funds,  Evergreen  International  and Global
Growth Funds,  Mentor Funds, Sector Funds and Evergreen Southern State Municipal
Bond Funds

         Effective  May 11, 2001,  the  paragraph of the  prospectuses  entitled
"Class Y" under "HOW TO CHOOSE THE SHARE  CLASS THAT BEST SUITS YOU" is replaced
with the following paragraph.

         Class I

         Each Fund offers Class I shares at net asset value  without a front-end
sales  charge,  deferred  sales  charge or 12b-1  fees.  Class I shares are only
available  to  investment  advisory  clients  of  an  investment  advisor  of an
Evergreen Fund (or its advisory affiliates) through special arrangements entered
into on behalf of the  Evergreen  Funds with certain  financial  service  firms,
certain  institutional  investors,  and  persons  who  owned  Class Y shares  in
registered name in an Evergreen Fund on or before 12/31/1994.

April 16, 2001                                                       557834 4/01