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Evergreen to liquidate International Balanced Income Fund

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The board of trustees of Evergreen International Balanced Income Fund has approved the liquidation of the fund.

The liquidation is expected to occur after the close of business on 16 August 2010.

Shares of the fund will cease to be traded on the New York Stock Exchange at that time.

Shareholders at that time will receive a liquidating distribution equal to the net asset value of their investment in the fund as of the close of business on 16 August.

The fund seeks to provide a high level of income by primarily investing in dividend-paying international stocks and other equity securities and international debt securities. The fund seeks to supplement its current income by writing call options on international indices.

The fund’s investment adviser, Evergreen Investment Management, has informed the fund’s trustees that it believes that declines over time in the current income available for distribution by the fund and the fund’s recent investment performance have contributed to the discount at which the fund’s shares trade to their net asset value. Evergreen does not expect the fund’s income available for distribution to increase for the foreseeable future due, in part, to anticipated changes to the US tax code.

In light of these and other factors, and after reviewing various other strategic options, Evergreen recommended to the trustees that the fund be liquidated.

The dividend that the fund declared on 10 June 2010, which is payable 2 August 2010 to shareholders of record on 15 July, will be the fund’s final regular monthly dividend.

The fund is a closed-end, US-registered management investment company with total net assets of USD168m as of 30 June 2010.

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