Evergreen Investments (logo)
Wells Fargo Advantage Funds (logo)
Important Proxy Information
Please take a moment to read the following important information.
The enclosed document is a combined prospectus/proxy statement describing proposals concerning certain Evergreen Funds and Wells Fargo Advantage Funds. As a shareholder of one or more of these funds, you are being asked to approve a merger of your fund into an acquiring Wells Fargo Advantage Fund. The following information briefly summaries the merger proposal, which is subject to a approval by shareholders of the target (merging) funds as well as other closing conditions. Each proposal is described in detail in the enclosed prospectus/proxy statement, which we encourage you to read carefully.
What am I being asked to vote on?
As a shareholder of a target fund, you are being asked to approve a fund merger. Your fund’s Board of Trustees believes that the merger is in the best interests of fund shareholders and unanimously recommends that you vote to approve it.
Each merger is subject to the satisfaction of a number of conditions, including approval by shareholders of the target fund at a special meeting of shareholders scheduled for June __, 2010. In each merger, if various conditions to closing are satisfied, the target fund will transfer all of its assets to the acquiring fund and the acquiring fund will assume all of the liabilities of the target fund in exchange for shares of a comparable class of the acquiring fund. The acquiring fund shares that you receive in a merger will have a total dollar value equal to that of the target fund shares that you hold at the time of the merger. Each merger is expected to be a non-taxable event for U.S. federal income tax purposes. Immediately following the merger, you will hold shares of the acquiring fund with a total dollar value equal to the total dollar value of the target fund shares that you held before the closing of the merger. Each target fund and its corresponding acquiring fund is listed in the table below:
Target (Merging) Fund | Acquiring (Surviving) Fund |
Evergreen Core Plus Bond Fund | Wells Fargo Advantage Income Plus Fund |
Evergreen Core Bond Fund | Wells Fargo Advantage Total Return Bond Fund |
Evergreen Short Intermediate Bond Fund | Wells Fargo Advantage Total Return Bond Fund |
Wells Fargo Advantage Diversified Bond Fund | Wells Fargo Advantage Total Return Bond Fund |
In addition, if you are a shareholder of Evergreen Core Plus Bond Fund, Evergreen Core Bond Fund or Evergreen Short Intermediate Bond Fund, you are also being asked to vote on a proposal to approve a new Investment Sub-Advisory Agreement among EIMC, Wells Capital Management Incorporated ("Wells Capital"), the Funds’ new sub-adviser, and the Fund.
Why has my fund’s Board recommended that I vote in favor of the merger?
Among the factors the Boards considered in recommending the mergers were the following:
Similarities and differences between the investment strategies of the target and acquiring funds.
Shareholders will not bear any direct expenses in connection with the mergers.
The mergers are expected to be a non-taxable event for U.S. federal income tax purposes.
How do I vote my shares?
Please read the enclosed proxy materials, consider the information provided carefully, and then vote promptly. The voting process only takes a few minutes. You may complete, date, sign and mail your proxy ballot; no postage is necessary if you mail it in the United States. Alternatively, you may vote by calling the toll-free number printed on your proxy ballot, or via the Internet according to the enclosed voting instructions provided on your proxy ballot.
Whom should I call with questions about the voting process?
If you have any questions about any proposal or related proxy materials, please call your investment professional, trust officer, or an Evergreen client service representative at
1-800-343-2898, Monday through Friday, 9:00 a.m. to 6:00 p.m., Eastern Time, or a Wells Fargo Advantage Funds client service representative at 1-800-222-8222, 24 hours a day, seven days a week. If you have any questions about the voting process or if you would like to vote by telephone, you may call our proxy solicitor, The Altman Group, Inc., at 1-866- 828-6931.
[back cover]
Evergreen Investments (logo)
Wells Fargo Funds Management, LLC (logo)
Carefully consider a Fund's investment objectives, risks, charges, and expenses before investing. For a current prospectus, containing this and other information, visit www.wellsfargo.com/advantagefunds or www.evergreeninvestments.com. Read the prospectus carefully before investing.
Evergreen Investment Management Company, LLC, is a subsidiary of Wells Fargo & Company and is an affiliate of Wells Fargo & Company’s
broker/dealer subsidiaries. Evergreen Investments(SM) is a service mark of Evergreen Investment Management Company, LLC.
Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, provides investment advisory and administrative services for Wells Fargo Advantage Funds. Other affiliates of Wells Fargo & Company provide subadvisory and other services for the Wells Fargo Advantage Funds.
Wells Fargo Funds Distributor, LLC, Member FINRA/SIPC, an affiliate of Wells Fargo & Company, is the distributor of the Evergreen Funds and the Wells Fargo Advantage Funds. 119888 01-10
NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
© 2010 Wells Fargo Funds Management, LLC. All rights reserved.
