SUPPLEMENT TO THE PROSPECTUSES
                                       OF
                          EVERGREEN MONEY MARKET FUNDS
                           (collectively, the "Funds")

         Effective October 1, 2004, the sections in the prospectuses of the
Funds entitled "HOW TO CHOOSE AN EVERGREEN FUND" and "HOW TO CHOOSE THE SHARE
CLASS THAT BEST SUITS YOU" have been replaced in their entirety with the
following pages, and a section entitled "HOW TO REDUCE OR ELIMINATE YOUR SALES
CHARGE" has been added to the prospectuses, immediately following the revised
sections.

HOW TO CHOOSE AN EVERGREEN FUND
When choosing an Evergreen fund, you should:
o    Most importantly, read the prospectus to see if the Fund is suitable for
     you.

o    Consider talking to an investment professional. He or she is qualified to
     give you investment advice based on your investment goals and financial
     situation and will be able to answer questions you may have after reading
     the Fund's prospectus. He or she can also assist you through all phases of
     opening your account.

o    Request any additional information you want about the Fund, such as the
     Statement of Additional Information (SAI), Annual Report or Semi-annual
     Report by calling 1.800.343.2898. In addition, any of these documents, with
     the exception of the SAI, may be downloaded off our website at
     EvergreenInvestments.com.

Short-Term Trading Policy
Excessive short-term trading in a Fund's shares by investors can be detrimental
to the interests of long-term shareholders. Excessive short-term trading may
disrupt portfolio management of the Fund, harm Fund performance, create
transaction and other administrative costs that are borne by all shareholders
and, ultimately, result in a dilution of or otherwise negatively impact the
value of the Fund's shares.

To limit the negative effects on the Funds of short-term trading, the Funds have
adopted certain restrictions on trading by investors. Investors are limited to
three "round trip" exchanges per calendar quarter and five "round trip"
exchanges per calendar year. A "round trip" exchange occurs when an investor
exchanges from one fund to another fund and back to the original fund. In
addition, each Fund reserves the right to reject any purchase or exchange, and
to terminate an investor's investment or exchange privileges, if the Fund
determines in its sole discretion that the trading activity by the investor may
be materially detrimental to the interests of long-term shareholders. The Funds
may reject purchases or exchanges, or terminate investment or exchange
privileges, even if the investor has not exceeded the
three-per-quarter/five-per-year limits described above. In considering whether
trading activity may be materially detrimental to the interests of long-term
shareholders, the Funds consider a number of factors such as the frequency of
trading by the investor, the amount involved in the investor's trades, and the
length of time the investment is held, along with other factors.


The Evergreen funds attempt to enforce the foregoing trading restrictions by
monitoring purchases, sales and exchanges on a daily basis. However, there are
certain limitations on the Funds' ability to detect and prevent trading that
would violate these restrictions. For example, while the Funds have access to
trading information relating to investors who trade and hold their shares
directly with the Funds, the Funds may not have access to such information for
investors who trade through financial intermediaries such as broker-dealers and
financial advisors or through retirement plans. Certain financial intermediaries
and retirement plans hold their shares or those of their clients through omnibus
accounts maintained with the Funds. In the case of omnibus accounts, the Funds
may not have access to information regarding trading activity by individual
investors, and therefore are unable to monitor for excessive short-term trading
or violations of the Funds' trading restrictions. For these and other reasons,
it is possible that excessive short-term trading or trading in violation of the
Funds' trading restrictions may occur despite the Funds' efforts to prevent
them.

HOW TO CHOOSE THE SHARE CLASS THAT BEST SUITS YOU
After choosing a Fund, you select a share class. Each share class has its own
sales charge and fee structure. For additional information regarding these fees,
see "Service Fees and Commissions Paid to Investment Firms" in part two of the
SAI. Pay particularly close attention to the fee structure of each class so you
know how much you will be paying before you invest.

There are several ways in which you may be able to reduce or eliminate sales
charges. For example, combining the amounts held in Evergreen fund accounts by
certain family members, or committing to invest an amount eligible for reduced
sales charges within a certain period of time, may allow you to reduce or
eliminate the sales charge. You may also be able to eliminate your sales charge
based on how you make your investment in the Evergreen funds (such as through a
financial advisor's wrap account program), based on your relationship to the
Evergreen funds and their related companies (for example, if you are an employee
of Wachovia Corporation or a broker-dealer that sells Evergreen funds) and under
certain circumstances (for example, upon the death or disability of a
shareholder named on the account). See "How To Reduce or Eliminate Your Sales
Charge" below for more details about these programs, and remember to inform
Evergreen or your investment professional of any other holdings in Evergreen
funds or circumstances that may make you eligible for reduced sales charges.

Class A
Each Fund offers Class A shares at NAV without a front-end sales charge.
However, Class A shares are subject to 12b-1 fees and certain broker-dealers and
other financial institutions may impose a fee in connection with purchases of
Class A shares of the Funds. When exchanging from Class A shares of a money
market fund to a non-money market fund within the Evergreen funds family, a
sales charge will be imposed on the exchange, unless the account has been
subject to a previous sales charge. This sales charge only applies to Class A
shares of an Evergreen money market fund.

Class B (Money Market Fund and U.S. Government Money
Market Fund Only)
If you select Class B shares, you do not pay a front-end sales charge, so the
entire amount of your purchase is invested in the Fund. However, you may pay a
contingent deferred sales charge if you redeem your shares within six years. See
"Calculating the Contingent Deferred Sales Charge for Class B and Class C
Shares" for information on how the six-year holding period is calculated and how
the contingent deferred sales charge is calculated at the time of redemption. In
addition, your shares are subject to 12b-1 fees. After eight years, Class B
shares automatically convert to Class A shares.

The amount of the maximum contingent deferred sales charge depends on the length
of time the shares are held, as shown below:

                                  Maximum Contingent Deferred
           Years Held                     Sales Charge
           ----------                -----------------------
                1                            5.00 %
                2                            4.00 %
                3                            3.00 %
                4                            3.00 %
                5                            2.00 %
                6                            1.00 %
           Thereafter                        0.00 %
                8                     Converts to Class A
        Dealer Allowance                     4.00 %

The maximum contingent deferred sales charge and dealer allowance may be reduced
for certain investors. See "How To Reduce or Eliminate Your Sales Charge" below.

A shareholder may not purchase Class B shares if the purchase would cause the
shareholder's aggregate Class B share holdings in the Evergreen funds to exceed
$250,000. Purchase orders that would cause a shareholder's account to exceed
this amount in Class B shares will be treated as a purchase of Class A shares.
However, Evergreen is not able to track a shareholder's purchases made through
financial intermediaries and held in an omnibus account. It will be necessary
for the financial intermediary to track purchases of the Funds by their clients
to ensure adherence to our policy. Certain of the Funds' financial
intermediaries are currently in the process of enhancing their computer systems
in order to have the ability to aggregate shares. Until these systems are
complete, such financial intermediaries are unable to aggregate share class
purchases. Purchases of Class B shares made through different financial
intermediaries, such as through two different broker-dealers, would not be able
to be tracked and aggregated.

Class C (Money Market Fund and U.S. Government Money
Market Fund Only)
If you select Class C shares, you do not pay a front-end sales charge but your
shares are subject to 12b-1 fees. In addition, you may pay a contingent deferred
sales charge if you redeem your shares within one year. See "Calculating the
Contingent Deferred Sales Charge for Class B and Class C Shares" for information
on how the one-year holding period is calculated and how the contingent deferred
sales charge is calculated at the time of redemption. These shares do not
convert to Class A shares, so the higher 12b-1 fees paid by Class C shares
continue for the life of the account.

The amount of the maximum contingent deferred sales charge depends on the length
of time the shares are held, as shown below:

                                   Maximum Contingent
        Years Held                Deferred Sales Charge
        ----------                ---------------------
            1                            1.00 %
        Thereafter                       0.00 %
     Dealer Allowance                    1.00 %

The maximum contingent deferred sales charge and dealer allowance may be reduced
for certain investors. See "How To Reduce or Eliminate Your Sales Charge."

Class I
Each Fund offers Class I shares at NAV without a front-end sales charge,
contingent deferred sales charge or 12b-1 fees. Class I shares are offered,
subject to the minimum initial purchase requirement stated under "How To Buy
Shares," only 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 services
firms, to certain institutional investors and to persons who owned Class Y
shares in registered name in an Evergreen fund on or before December 31, 1994.

Calculating the Contingent Deferred Sales Charge for Class B
and Class C Shares
The holding period for the contingent deferred sales charge for Class B and
Class C shares begins on the day your purchase is accepted. See "How to Buy
Shares" for a complete description of the Funds' purchase procedures. For
example, if you purchase Class B shares on January 2nd, a redemption of any of
those shares will be subject to the 5.00% contingent deferred sales charge
through January 2nd of the following year. Beginning on January 3rd of the
following year, you will be subject to the 4.00% contingent deferred sales
charge on redemptions of those shares through January 2nd of the next year.
Please refer to the tables above for the complete schedule of each class's
maximum contingent deferred sales charge.

If a contingent deferred sales charge is imposed, the Fund deducts it from the
redemption proceeds you would otherwise receive. The contingent deferred sales
charge is a percentage of the lesser of (i) the NAV of the shares at the time of
redemption or (ii) the shareholder's original net cost for such shares. Upon
request for redemption, the Fund will first seek to redeem shares not subject to
the contingent deferred sales charge and then shares held the longest in an
effort to keep the contingent deferred sales charge a shareholder would pay as
low as possible. The contingent deferred sales charge on any redemption is, to
the extent permitted by NASD Regulation, Inc., paid to Evergreen Investment
Services, Inc. (EIS) or its predecessor.

Promotional Incentives on Dealer Commissions
EIS may, from time to time, provide promotional incentives, including
reallowance and/or payment of up to the entire sales charge, to certain
investment firms. Such incentives may, at EIS's discretion, be limited to
investment firms who allow their individual selling representatives to
participate in such additional commissions. Please see "Distribution Expenses
Under Rule 12b-1" in the SAI for more information regarding promotional
incentives.

Additional Compensation to Financial Services Firms
EIMC or EIS has entered into revenue sharing arrangements under which EIMC or
EIS, as the case may be, makes payments to financial services firms that are
intended to provide incentives for the sale of shares of Evergreen funds or to
compensate the intermediary for marketing or marketing support activities.
Payments under these arrangements are made from EIMC's or EIS's resources, as
the case may be, and are in addition to any front-end sales charges, up-front
commissions, Rule 12b-1 fees or other payments made or incentives provided to
the financial services firm. The amounts of these payments typically are
calculated as a percentage of sales made to and/or assets held by customers of
the financial services firm. Please contact your investment professional for
more details regarding these arrangements or contact an Evergreen funds service
representative for a listing of financial services firms with whom we have such
arrangements.

HOW TO REDUCE OR ELIMINATE YOUR SALES CHARGE
There are several ways in which you may be able to reduce or eliminate sales
charges, regardless of whether you hold your shares directly with the Fund or
through a financial intermediary.

Contact Evergreen or your investment professional if you think you may qualify
for any of the sales charge reduction or elimination programs described below.

At the time of making a purchase or redemption, it may be necessary for you to
inform Evergreen or your investment professional of the existence of other
accounts, or any other facts and circumstances, that may be relevant to
qualifying for any of these programs and to provide Evergreen or your investment
professional with certain information or records, such as account statements, to
verify your qualification for any of these programs. You should provide
information and records regarding shares of Evergreen funds held in all accounts
with your investment professional or any other financial intermediary (such as
retirement accounts) by you and/or members of your immediate family. For further
details on exactly who is a member of your immediate family, please see the
discussion entitled "Immediate Family Members" at the end of this section.

For more information on sales charge reduction and elimination programs, see
"Purchase and Redemption of Shares" in the Statement of Additional Information.

Class A
Rights of Accumulation. You may add the current value of all of your existing
- -----------------------
Evergreen funds investments in Class A, Class B and Class C shares excluding
amounts invested in Evergreen money market funds on which you have not
previously paid a sales charge, to determine the front-end sales charge to be
applied to your current Class A purchases of Evergreen funds subject to a Class
A sales charge. You may include the value of Evergreen funds investments held by
the members of your immediate family (please see the discussion entitled
"Immediate Family Members" at the end of this section), including the value of
Evergreen funds investments held by you or them in individual retirement plans,
such as individual retirement accounts, or IRAs. However, the value of Evergreen
funds investments held in employer retirement plans, such as 401(k) plans, is
not eligible for inclusion.

Letter of Intent. You may reduce the front-end sales charge on a current
- ----------------
purchase of Class A shares of an Evergreen fund subject to a Class A sales
charge if you agree to invest at least $50,000 in Class A shares of one or more
Evergreen funds subject to a Class A sales charge over a 13-month period. You
will pay the same sales charge as if you had invested the full amount all at one
time. Each relevant Evergreen fund will hold a certain portion of your
investment in escrow until your commitment is met.

Combined Purchases. You may reduce your front-end sales charge for purchases of
- ------------------
Class A shares of an Evergreen fund subject to a Class A sales charge if you
purchase Class A, Class B and/or Class C shares in multiple Evergreen funds,
excluding amounts that you intend to invest in any Evergreen money market funds
on which no sales charge will be paid, at the same time. The combined dollar
amount invested in Class A, Class B and Class C shares will determine the
front-end sales charge applied to all of your current Class A purchases of
Evergreen funds subject to a Class A sales charge. For example, if you invest
$75,000 in each of two different Evergreen funds, you pay a sales charge based
on a $150,000 purchase (i.e., 3.75% of the offering price, rather than 4.50%).

NAV Purchases. Evergreen money market funds sell Class A shares at NAV. If you
- -------------
purchase an Evergreen fund other than an Evergreen money market fund, it may
sell Class A shares at NAV, without a front-end or contingent deferred sales
charge except as described below, to the following:
o         Current and retired Directors, Trustees, officers and employees of the
          Evergreen funds and Wachovia Corporation and its affiliates, and
          members of each such individual's immediate family (please see the
          discussion entitled "Immediate Family Members" at the end of this
          section).
o         Employees of broker-dealer firms that have entered into dealer
          agreements with EIS, and members of each such individual's immediate
          family (please see the discussion entitled "Immediate Family Members"
          at the end of this section).
o         Corporate-sponsored retirement plans and non-qualified deferred
          compensation plans sponsored by an organization having 100 or more
          eligible employees. Such purchases are subject to a dealer commission
          of 1.00% of the amount of purchase paid to the dealer by EIS (subject
          to recapture by EIS from the dealer if the purchase is redeemed within
          12 months after the month of purchase).
o         Institutional investors (which may include bank trust departments and
          registered investment advisors). o Wrap, or separately managed,
          accounts, which are accounts held with investment advisors,
          consultants or financial planners who have entered into an agreement
          with Evergreen, charge their clients a management, consulting,
          advisory or other fee and place trades for the accounts of their
          clients.
o        In connection with the court-approved settlement of the lawsuit,
         O'Malley v. Boris, C.A. No. 15735-NC, a class action involving certain
         successors in interest to EVEREN Securities, Inc., Evergreen has agreed
         to permit class members to purchase up to $50,000 in Class A shares of
         certain eligible mutual funds, including the Fund, at NAV without a
         front-end sales charge. Class members may transfer this benefit to
         certain family members and related entities. This benefit expires as of
         April 29, 2009.

Class B and Class C
You will not be assessed a contingent deferred sales charge for Class B or Class
C shares if you redeem shares in the following situations:

o         When the shares were purchased through reinvestment of
          dividends/capital gains.

o         Death of a shareholder named on the relevant account, provided the
          redemption is made prior to registering the account in another name or
          changing the account registration to remove the decedent's name.

o         Disability of a shareholder named on the relevant account incurred
          after purchase of the shares (this generally excludes accounts
          registered in the names of trusts and other entities).

o         Systematic withdrawals of up to 1.00% of the account balance per month
          or up to 3.00% of the account balance per quarter.

o         Shares in an account that has been closed because it falls below the
          minimum initial purchase amount.

o         Lump-sum distribution from a 401(k) plan or other benefit plan
          qualified under ERISA.

o         Mandatory withdrawals from the ERISA plan of a shareholder who is at
          least 70 1/2 years old.

o         Loan proceeds and financial hardship distributions from a retirement
          plan.

o         Returns of excess contributions or excess deferral amounts made to a
          retirement plan participant.

o         A redemption by an individual participant in a corporate-sponsored
          retirement plan and non-qualified deferred compensation plan (this
          waiver is not available in the event such a plan, as a whole, redeems
          substantially all of its assets).

Classes A, B and C
Reinstatement Privileges. Subject to the Funds' Short-Term Trading Policy,
- ------------------------
within 90 days of redeeming out of an Evergreen fund, you may re-establish your
investment at the current NAV by reinvesting some, or all, of your redemption
proceeds into the same share class of any Evergreen fund in an account
registered in the same name(s). If a contingent deferred sales charge was
deducted from your redemption proceeds, the amount of the contingent deferred
sales charge attributable to the amount reinvested will be credited to your
account at the NAV on the date of reinstatement. Your contingent deferred sales
charge schedule will resume from the time of the original redemption. Any
redemption fee charged in connection with the redemption will not be refunded in
connection with these privileges. If you are eligible for reinstatement, you
must inform Evergreen or your investment professional at the time of your
reinvestment or you may not receive reinstatement in accordance with these
privileges.

                                      * * *

Immediate Family Members
Immediate family members include the following, and only the following:

Your spouse, who is the person to whom you are legally married. We also consider
your spouse to include the following:

o        an individual of the same sex with whom you have been joined in a
         civil union, or legal contract similar to marriage;
o        a domestic partner, who is an individual (including one of the same
         sex) with whom you share a primary residence for at least six months,
         in a relationship as a couple where you, your domestic partner or both
         of you provide personal or financial welfare of the other without a
         fee, to whom you are not related by blood and to whom you are not
         married; and
o        an individual with whom you have a common law marriage, which is a
         marriage in a state where such marriages are recognized between a man
         and a woman arising from the fact that the two live together and hold
         themselves out as being married.

Your parents, who are your biological or adoptive mother and father. We also
consider your parents to include any legal guardian, who is the person legally
placed in charge of your affairs if you are a minor or legally incompetent, and
your stepparents. We do not consider your parents to include any mother-in-law,
father-in-law or grandparent.

Your siblings, who are your biological brothers and sisters, stepbrothers and
stepsisters. We also consider your siblings to include your adoptive brothers
and sisters. We do not consider your siblings to include any brother-in-law or
sister-in-law.

Your children, who are your biological or adopted sons and daughters. We also
consider your children to include your stepchildren, legal wards and persons for
whom you stand in loco parentis. We do not consider your children to include any
daughter-in-law, son-in-law or grandchild.


October 1, 2004                                                571363  (10/04)