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Evergreen Investments Announces Portfolio Management Appointments.

BOSTON -- Evergreen Investments announced today that Gary Pzegeo, CFA, has been named Managing Director and interim head of Evergreen's High Yield Bond team, effective immediately. Pzegeo will have oversight of several high yield bond portfolios and institutional separate accounts, and will report to Bob Calhoun, Chief Investment Officer of Evergreen affiliate, Tattersall Advisory Group.

Pzegeo succeeds Dana E. Erikson, CFA, as lead portfolio manager of the following: Evergreen High Yield Bond Fund (NASDAQ:EKHAX) and Evergreen VA High Income Fund, both open end funds, and closed end fund Evergreen Income Advantage Fund (AMEX:EAD). He also succeeds Erikson as co-manager of Evergreen Strategic Income Fund (NASDAQ:EKSAX) and Evergreen VA Strategic Income Fund, both open end funds, and closed end fund Evergreen Managed Income Fund (AMEX:ERC).

Pzegeo succeeds Richard M. Cryan as portfolio manager of the following: Evergreen Select High Yield Bond Fund (NASDAQ:EHYIX) and several institutional separately managed accounts. He also succeeds Cryan as co-manager of the following: Evergreen Diversified Bond Fund (NASDAQ:EKDLX), an open end fund, and closed end fund Evergreen Utilities and High Income Fund (AMEX:ERH).

Erikson and Cryan are leaving Evergreen to pursue other opportunities. Evergreen will launch a search for candidates to fill permanently the role of team leader and portfolio management positions.

With over 15 years industry experience, Managing Director Gary Pzegeo has a long tenured career managing fixed income portfolios, including 12 years with Evergreen. From 1990 through 1997, Gary served as a fixed income analyst and trader with the firm; from 1997 through 2001, he served as lead portfolio manager for Adjustable Rate, Diversified Bond, Capital Preservation and Income and Balanced funds. Between 2001 and 2005, Gary worked for private asset manager, Gannett Welsh & Kotler, LLC, overseeing the Taxable Bond group (including high yield and high grade portfolios) for institutional and high-net-worth clients. He returned to Evergreen in 2005 to support the High Yield Bond team in a portfolio specialist capacity, including responsibility for investment strategy, product management, sales, and client service support.

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 more than $250 billion in assets (as of June 30, 2006). Please visit for more information about Evergreen Investments.
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Publication:Business Wire
Date:Aug 11, 2006
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