EAD Allspring Income Opportunities Fund

Evergreen announces options strategy management changes for Evergreen International Balanced Income Fund BOSTON, Sept. 18 /PRNewswire-FirstCall/ -- Evergreen Investments today announced the dividend declaration for Evergreen Income Advantage Fund (AMEX:EAD), Evergreen Multi-Sector Income Fund (AMEX:ERC), Evergreen Utilities and High Income Fund (AMEX:ERH), and Evergreen International Balanced Income Fund (NYSE:EBI). Evergreen Income Advantage Fund is a closed-end high-yield bond fund. The fund's investment objective is to seek a high level of current income. The fund may, as a secondary objective, seek capital appreciation to the extent consistent with its investment objective. Evergreen Income Advantage Fund declared the following monthly dividend from ordinary income: Declaration Ex- Record Payable Dividend date dividend date date rate/share date September October October November $0.1094 / 18, 2008 14, 2008 16, 2008 3, 2008 share Evergreen Multi-Sector Income Fund is a closed-end bond fund. The fund's primary investment objective is to seek a high level of current income consistent with limiting its overall exposure to domestic interest rate risk. Evergreen Multi-Sector Income Fund declared the following monthly dividend from ordinary income: Declaration Ex- Record Payable Dividend date dividend date date rate/share date September October October November $0.1083 / 18, 2008 14, 2008 16, 2008 3, 2008 share 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. Evergreen Utilities and High Income Fund declared the following monthly dividend from ordinary income: Declaration Ex- Record Payable Dividend date dividend date date rate/share date September October October November $0.23 / 18, 2008 14, 2008 16, 2008 3, 2008 share Evergreen International Balanced Income Fund is a closed-end fund investing primarily in international stocks and bonds. The fund's investment objective is to seek to provide a high level of income. Evergreen International Balanced Income Fund declared the following monthly dividend from ordinary income: Declaration Ex- Record Payable Dividend date dividend date date rate/share date September October October November $0.1458 / 18, 2008 14, 2008 16, 2008 3, 2008 share To make changes to your account, please contact your financial advisor, brokerage firm, bank, or other nominee with whom your shares are registered. If your shares are registered with the funds' transfer agent, Computershare, please contact them directly at 800.730.6001 or visit http://www.computershare.com/ . Evergreen Investments, which serves as the investment adviser to Evergreen International Balanced Income Fund (NYSE:EBI), also announced today it will leverage the in-house talent and expertise of its Derivatives and Alternative Strategies team, led by Tim Stevenson, in managing the Fund's options strategy. On or about November 18, 2008, the team will replace Analytic Investors, LLC, which has served as the sub-adviser responsible for the options strategy since the Fund's October 2005 inception. EBI seeks to achieve its investment objective of providing a high level of income by investing primarily in common stocks of non-U.S. issuers and other equity securities, and debt securities of non-U.S. issuers. In addition, EBI employs a strategy of writing call options, primarily on a variety of both non-U.S. and U.S. securities-based indices. The Fund also may write options on exchange-traded funds that represent certain indices, countries, or market sectors; on futures contracts; and on individual securities. The options portfolio for EBI has a notional value of $44.8 million as of June 30, 2008. These closed-end funds are no longer offered as an initial public offering and are only offered through broker/dealers on the secondary market. 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. Evergreen serves more than four million individual and institutional investors through a broad range of investment products. Led by 300 investment professionals, Evergreen strives to meet client investment objectives through disciplined, team-based asset management. Evergreen manages more than $245 billion in assets (as of June 30, 2008). Please visit EvergreenInvestments.com for more information about Evergreen Investments. Funds: NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE DATASOURCE: Evergreen Investments CONTACT: Shareholder Inquiries: 1-800-730-6001; or Financial Advisor Inquiries: 1-800-343-2898; or Media Inquiries: Lauren Sawyers, +1-704-715-4561, , or Laura Fay, +1-617-210-3867, , all for Evergreen Investments Web site: http://www.evergreeninvestments.com/ http://www.computershare.com/

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