[Mentor Shareholder letter--posted to Infomax, signed by individual brokers] 'Date' 'Name' 'Address' 'Address' Dear 'Name': You recently should have received one or more sets of proxy materials from Mentor Funds. I know that proxies are not always the easiest documents to digest, so I wanted to take a moment to provide a shorter explanation of what is contained in the proxy materials and to make you aware of several other changes affecting your Mentor Funds. If you own one of the following funds, you received a proxy asking you to approve, among other things, a proposal to reorganize your Mentor Fund(s) into a series of an existing Evergreen Trust. As a result of the reorganization discussed above, it is anticipated that all of the funds named below will change their names from Mentor to Evergreen on or about October 18, 1999, to reflect the fact that they are now part of the Evergreen family of funds. The investment objectives stay the same, as will the portfolio managers. The newspaper listings for these funds will appear in the Evergreen Funds section on or about October 19, 1999. Current Mentor Fund Name Change as of 10/18/99 Portfolio Managers Mentor Balanced Portfolio Evergreen Capital Balanced Fund Davenport/Jones Mentor Capital Growth Portfolio Evergreen Capital Growth Fund Davenport Mentor Fixed Income Portfolio Evergreen Select Fixed Income II Jones Mentor Growth Portfolio Evergreen Growth Fund Price Mentor High Income Portfolio Evergreen High Income Fund Jones Mentor Income and Growth Portfolio Evergreen Capital Income and Growth Fund Davenport/Jones Mentor Municipal Income Portfolio Evergreen Municipal Income Fund Kimball/Colby Mentor Perpetual Global Portfolio Evergreen Perpetual Global Fund Perpetual Inv. Mngmt., LTD Mentor Perpetual International Portfolio Evergreen Perpetual International Fund Perpetual Inv. Mngmt., LTD Mentor Quality Income Portfolio Evergreen Quality Income Fund Jones Mentor Short-Duration Income Portfolio Evergreen Short-Duration Income Fund Jones If you are a shareholder in one of the three funds listed below, you should have received a prospectus/proxy statement asking you to approve the same type of reorganization mentioned above and another proposal regarding the merger of your fund into an Evergreen Fund. In each of the mergers, the Mentor Fund and the Evergreen Fund into which the Mentor Fund is proposed to merge have similar investment objectives. Because the Evergreen Fund is larger, we expect certain economies of scale may be realized which may provide the potential for a greater yield and better overall investment returns. The table below shows your current Mentor Fund and the Evergreen Fund into which it will merge if the shareholders approve the merger. If the mergers are approved, they will not actually take place until March 10, 2,000. Current Mentor Fund Name Change as of 10/18/99 Fund after Merger Mentor Short Duration Income Portfolio Evergreen Short-Duration Income Fund Evg. Short- Intermediate Bond Fund Mentor Municipal Income Portfolio Evergreen Municipal Income Fund Evg. Municipal Bond Fund Mentor Income and Growth Portfolio Evergreen Capital Income and Growth Fund Evg. Capital Balanced Fund If you have any questions about one of the proxy statements or about any of the information I have detailed above, please call me at 000.000.0000. I will be happy to answer your questions or provide more information. Sincerely, 'Name'