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Evergreen Announces Management Appointment on Two Closed-End Funds

March 23, 2009

BOSTON – Evergreen Investments, which serves as the investment adviser to Evergreen Global Dividend Opportunity Fund (NYSE:EOD) and Evergreen International Balanced Income Fund (NYSE: EBI), announced today that Tim Stevenson, CFA, CMT, will expand his responsibilities to include portfolio oversight of the two closed-end funds, effective Friday, March 27, 2009. Tim replaces Joseph DeSantis, who is leaving the firm to pursue other opportunities.

In addition to his current role as head of Evergreen’s Derivatives and Alternative Strategies team, Tim currently serves as a portfolio manager on Evergreen Global Dividend Opportunity Fund and Evergreen International Balanced Income Fund, overseeing the Funds’ options positions using quantitative and statistical analysis. Tim will provide additional oversight for Evergreen Global Dividend Opportunity Fund coordinating the equity and options portfolios with a focus on maintaining an attractive and sustainable stream of income while seeking to maximize the upside potential of the securities held in the Fund. Portfolio manager Timothy O’Brien, CFA, will continue in his role overseeing the equity sleeve of the Fund. In his oversight of Evergreen International Balanced Income Fund, Tim will work closely with co-managers Francis Claró and Anthony Norris and Peter Wilson to determine the appropriate mix of international equity and fixed income exposure, respectively, as well as the extent and types of options employed so as to position the portfolio in line with market opportunities.

Evergreen Global Dividend Opportunity Fund has a primary investment objective of seeking to provide a high level of current income with a secondary objective of achieving long-term growth of capital. The Fund primarily invests in global equities believed to offer above average potential for current and/or future dividends. The Fund actively employs a dividend capture strategy. In addition, the Fund also writes (sells) call options on a variety of U.S. and non-U.S.-based securities indices to generate additional distributable income. Evergreen International Balanced Income Fund, has a primary investment objective of seeking to provide a high level of income by investing primarily in dividend-paying international stocks and other equity securities and international debt securities. In addition, the Fund will write call options on international indexes.

These closed-end funds are no longer offered as an initial public offering and are only offered 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 $1.3 trillion in assets (as of December 31, 2008), 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 $175 billion in assets (as of December 31, 2008).

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