EVG Eaton Vance Short Duration Diversified Income Fund

Evergreen Resources, Inc. Announces Pricing of $200 Million Offering of Senior Subordinated Notes DENVER, March 5 /PRNewswire-FirstCall/ -- EVERGREEN RESOURCES, INC. announced today that it has priced a private offering of $200 million of Senior Subordinated Notes due 2012. The securities were priced at 99.213% of par with a coupon of 5.875%. The offering is expected to close on March 10, 2004 and is subject to satisfaction of customary closing conditions. Evergreen intends to use the net proceeds of the offering to completely discharge outstanding indebtedness under its existing credit facilities and provide funding for future development expenditures and for general corporate purposes. This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The securities being sold have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and, unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Evergreen Resources is an independent energy company engaged primarily in the exploration, development, production, operation and acquisition of unconventional natural gas properties. Evergreen is one of the leading developers of coal bed methane reserves in the United States. Evergreen's current operations are principally focused on developing and expanding its coal bed methane project located in the Raton Basin in southern Colorado. Evergreen has also begun coal bed methane projects in Alaska and the Forest City Basin of eastern Kansas and holds conventional oil and gas producing property interests in the Piceance Basin in western Colorado, the Uintah Basin in eastern Utah, and in the Western Canadian Sedimentary Basin in south-central Alberta, Canada. Evergreen's common stock is traded on the New York Stock Exchange under the symbol "EVG." This press release contains forward-looking statements within the meaning of federal securities laws, including statements regarding, among other things, Evergreen's growth strategies; anticipated trends in Evergreen's business and its future results of operations; market conditions in the oil and gas industry; the ability of Evergreen to make and integrate acquisitions; and the impact of government regulations. These forward-looking statements are based largely on Evergreen's expectations and are subject to a number of risks and uncertainties, many of which are beyond Evergreen's control. Actual results could differ materially from those implied by these forward-looking statements as a result of, among other things, a decline in natural gas production, a decline in natural gas prices, incorrect estimations of required capital expenditures, increases in the cost of drilling, completion and gas collection, an increase in the cost of production and operations, an inability to meet projections, and/or changes in general economic conditions. In light of these and other risks and uncertainties of which Evergreen may be unaware or which Evergreen currently deems immaterial, there can be no assurance that actual results will be as projected in the forward-looking statements. These and other risks and uncertainties are described in more detail in the company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission. DATASOURCE: Evergreen Resources, Inc. CONTACT: John B. Kelso, Director of Investor Relations of Evergreen Resources, Inc., +1-303-298-8100

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