VES Vestaur Securities Fund

Vestaur Securities Fund ("Vestaur") announced today that shareholders approved Vestaur's merger with Evergreen Diversified Bond Fund. Evergreen Diversified Bond Fund seeks to provide maximum income without undue risk of principal by investing primarily in a wide range of debt securities, including Treasury and agency securities, mortgage-backed, investment grade corporate and lower-quality corporate debt securities. In conjunction with the merger, Vestaur's transfer books will be closed as of the close of business Tuesday, May 17, 2005. As a result of this action, trading of Vestaur shares on the American Stock Exchange (AMEX:VES) will cease at the close of business on Tuesday, May 17, 2005. This will allow all trades to settle on or before Friday, May 20, 2005. Vestaur will be merged into Evergreen Diversified Bond Fund after the close of business Friday, May 20, 2005. Shares of Vestaur held as of the close of business Friday, May 20, 2005 will be exchanged at net asset value for shares of Evergreen Diversified Bond Fund (EKDYX). Former shareholders of Vestaur can expect to receive information from Evergreen regarding their new accounts in Evergreen Diversified Bond Fund after the completion of the merger. About Evergreen Investments Evergreen Investments, investment advisor for Vestaur Securities Fund, is the brand name under which Wachovia Corporation (NYSE:WB) conducts its investment management business and is a leading asset management firm serving more than four million individual and institutional investors through a broad range of investment products. Led by 350 investment professionals, Evergreen Investments strives to meet client investment objectives through disciplined, team-based asset management. Evergreen Investments manages more than $248 billion in assets (as of March 31, 2005). For more information on Evergreen, please visit www.evergreeninvestments.com.