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Closed End Fund Advisory: Evergreen Utilities and High Income Fund (AMEX:ERH) To Hold Conference Call.

BOSTON -- Evergreen Investments will hold a conference call to discuss Evergreen Utilities and High Income Fund (AMEX:ERH) on Monday, March 20, 2006, at 4:15pm EST.

The call will be led by Karen McColl, Vice President of Investment Product Management and feature Timothy P. O'Brien, Managing Director and Senior Portfolio Manager of Evergreen Utilities and High Income Fund. During the call, McColl and O'Brien will review recent performance of the fund, discuss drivers of investment results and provide a general outlook for the global utility market.

Interested parties should call toll free 877.238.1611 and enter the following conference identification number when prompted: 6540347.

Participants should be prepared to provide their name and professional affiliation, if applicable.

The call will be recorded and made available for playback beginning approximately two hours after its completion. To access the recording, please call 800.642.1687 or 706.645.9291 and enter the following conference identification number when prompted: 6540347. The recording will be available for replay until April 20, 2006. Evergreen will make a transcript of the call available on its web site shortly after the call.

For more information about Evergreen's closed end funds, contact your financial advisor, visit EvergreenInvestments.com, or call 800.343.2898.

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. Investments in the fund involve risk. Funds that invest in high yield, lower-rated bonds may contain more risk due to the increased possibility of default. The fund has issued preferred shares and, in addition, may borrow, which creates leverage. The use of leverage results in certain risks including, among others, the likelihood of greater volatility of net asset value and the market price of common shares. Foreign investments may contain more risk due to the inherent risks associated with changing political climates, foreign market instability and foreign currency fluctuations. Funds that concentrate their investments in a single industry or sector may face increased risk of price fluctuation over more diversified funds due to adverse developments within that industry or sector. Non-diversified funds may face increased risk of price fluctuation over more diversified funds due to adverse developments within certain sectors. U.S. government guarantees apply only to certain securities held in the fund's portfolio and not to the fund's shares. The return of principal is not guaranteed due to fluctuation in the NAV of the fund caused by changes in the price of the individual bonds held by the fund and the buying and selling of bonds by the fund. Bond funds have the same inflation, interest rate and credit risks that are associated with the individual bonds held by the fund. Generally, the value of bond funds rise when prevailing interest rates fall and fall when interest rates rise. Closed-end funds do not continuously offer shares for sale. The shares trade on the secondary market after the initial public offering. A closed-end fund is not required to buy its shares back from investors upon request. Like other securities, share prices will fluctuate with market conditions and at the time of sale may be worth more or less than the original investment.

About Evergreen Investments

Evergreen Investments is the brand name under which Wachovia Corporation (NYSE:WB) conducts its investment management business. 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 400 investment professionals, Evergreen Investments strives to meet client investment objectives through disciplined, team-based asset management. Evergreen Investments manages approximately $249 billion in assets (as of December 31, 2005). Please visit EvergreenInvestments.com for more information about Evergreen Investments.
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Date:Mar 15, 2006
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