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Evergreen Announces Delayed Completion of Annual Reports for Three Closed End Funds

January 15, 2009

BOSTON – Evergreen Investments today announced that the completion of financial statements for three of the firm’s closed-end funds has been delayed. The Funds include Evergreen Multi-Sector Income Fund (NYSE:ERC), Evergreen International Balanced Income Fund (NYSE:EBI), and Evergreen Global Dividend Opportunity Fund (NYSE:EOD) (collectively “the Funds”).

The Funds’ financial statements for the fiscal year ended October 31, 2008 are not yet available because management's review of the valuation of certain securities during the period shown in the financial statements and related procedures and controls have not been completed in time to allow the Funds’ independent public accountants to complete their audit of the Funds’ financial statements. As a result the Funds have not been able to transmit annual reports for the fiscal year ended October 31, 2008 to shareholders of the Funds or file these reports with the Securities and Exchange Commission. The Funds’ annual reports for the fiscal year ended October 31, 2008 will be transmitted to shareholders of the Funds and filed with the Securities and Exchange Commission promptly following the completion of the audit of each respective Fund’s financial statements. Management of the Funds estimates that the audit of each Fund's financial statements will be completed by January 22, 2009.

Information about each Fund’s investment objective, net and total assets, and net investment income follows:

Evergreen Multi-Sector Income Fund (NYSE:ERC)
Evergreen Multi-Sector Income Fund (the “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. As of October 31, 2008, the Fund’s net assets were $ 566,515,239 and the Fund’s total assets were $ 984,780,290. For the twelve-month period ended October 31, 2008, the Fund’s net investment income was $ 70,646,241.

Evergreen International Balanced Income Fund (NYSE:EBI)
Evergreen International Balanced Income Fund (the “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. As of October 31, 2008, the Fund’s net assets were $160,609,993 and the Fund’s total assets were $181,459,678. For the twelve-month period ended October 31, 2008, the Fund’s net investment income was $12,521,053.

Evergreen Global Dividend Opportunity Fund (NYSE:EOD)
Evergreen Global Dividend Opportunity Fund (the “Fund”) is a closed-end fund investing primarily in a diversified portfolio of common stocks of U.S. and non-U.S. companies. The Fund’s investment objective is to seek a high level of current income. The Fund’s secondary objective is long-term growth of capital. As of October 31, 2008, the Fund’s net assets were $574,156,840 and the Fund’s total assets were $599,486,496. For the twelve-month period ended October 31, 2008, the Fund’s net investment income was $91,943,711.

The shares of these closed-end funds are no longer offered in a public offering and are only available 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 $1.4 trillion in assets, 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. Combined, the groups serve 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 $209 billion in assets (as of September 30, 2008).

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