EBI Evergreen International Balanced Income Fund Evergreen International Balanced Income Fund Common Shares of Beneficial Interest

BOSTON, July 17 /PRNewswire-FirstCall/ -- Evergreen Investments today announced the dividend declaration for Evergreen Income Advantage Fund (NYSE Amex: EAD), Evergreen Multi-Sector Income Fund (NYSE Amex: ERC), Evergreen Utilities and High Income Fund (NYSE 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 it is consistent with its investment objective. Evergreen Income Advantage Fund declared the following monthly dividend from ordinary income: Declaration Ex-dividend Record Payable Dividend Date Date Date Date rate/share ----------- ----------- ----------- ----------- ----------- July 17, August 13, August 17, September 1, $0.0929 / share 2009 2009 2009 2009 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-dividend Record Payable Dividend Date Date Date Date rate/share ----------- ----------- ----------- ----------- ----------- July 17, August 13, August 17, September 1, $0.1083 / share 2009 2009 2009 2009 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-dividend Record Payable Dividend Date Date Date Date rate/share ----------- ----------- ----------- ----------- ----------- July 17, August 13, August 17, September 1, $0.11 / share 2009 2009 2009 2009 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-dividend Record Payable Dividend Date Date Date Date rate/share ----------- ----------- ----------- ----------- ----------- July 17, August 13, August 17, September 1, $0.085 / share 2009 2009 2009 2009 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/. These closed-end fund 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 one of the brand names under which Wells Fargo & Company (NYSE:WFC) conducts its investment management business. Wells Fargo & Company is a diversified financial services company with $1.3 trillion in assets (as of March 31, 2009), providing banking, insurance, investments, mortgage and consumer finance through almost 11,000 stores and the internet (WellsFargo.com) across North America and internationally. Wachovia Global Asset Management is the brand name under which Evergreen Investments conducts sales and distribution business outside of the United States. Evergreen Investments serves more than four million individual and institutional investors through a broad range of investment products. Led by more than 300 investment professionals, Evergreen Investments strives to meet client investment objectives through disciplined, team-based asset management. Evergreen Investments manages more than $164 billion in assets (as of March 31, 2009). Evergreen Investments(SM) is a service mark of Evergreen Investment Management Company, LLC. Copyright 2009. Evergreen Investment Management Company, LLC. For more information on Evergreen, please visit EvergreenInvestments.com. 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: Laura Fay, +1-617-210-3867, Web Site: http://www.evergreeninvestments.com/

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