Evergreen Closed-End Funds Declare Monthly Dividends

Evergreen Investments today announced the dividend declaration for Evergreen Income Advantage Fund (NYSE Amex: EAD), Evergreen Utilities and High Income Fund (NYSE Amex: ERH), Evergreen International Balanced Income Fund (NYSE: EBI), and Evergreen Multi-Sector Income Fund (NYSE Amex: ERC).

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 Date

Ex-Dividend Date

Record Date

Payable Date

Dividend Rate/Share

April 16, 2010

May 12, 2010

May 14, 2010

June 1, 2010

$0.085/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 Date

Ex-Dividend Date

Record Date

Payable Date

Dividend Rate/Share

April 16, 2010

May 12, 2010

May 14, 2010

June 1, 2010

$0.075/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.