U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 (Print or Type Responses) ------------------------------------------------------------------------------------------------------------------------- 1. Name and Address of Reporting Person* 2. Date of Event 4. Issuer Name and Ticker or Trading Symbol Requiring Statement (Month/Day/Year) Pettit, William W. 2/25/2003 Evergreen Income Advantage Fund ------------------------------------------------------------------------------------------------------------------------- (Last) (First) (Middle) 3. IRS Identification 5. Relationship of Reporting Person(s) to 6. If Amendment, Number of Reporting Issuer (Check all applicable) Date of Origninal Person, if an Entity (Month/Year) (Voluntary) ------------------------ X Director/Trustee __ 10% Owner 7. Individual or Joint/Group Filing (Check Applicable Line) __ Officer (give title below) __ Other (specify below) X Form filed by 2901 Coltsgate Road, Suite 102 One Reporting Person ------------------------------------------------------------------------------------------------ (Street) __ Form filed by More Than One Reporting Person Charlotte, NC 28211 ------------------------------------------------------------------------------------------------------------------------- (City) (State) (Zip) ------------------------------------------------------------------------------------------------------------------------- Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned ------------------------------------------------------------------------------------------------------------------------- 1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect (Instr. 4) Beneficially Owned Direct (D) or Indirect (I) Beneficial Ownership (Instr. 4) (Instr. 5) (Instr. 4) ------------------------------------------------------------------------------------------------------------------------- None ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. *If the form is filed by more than one reporting person, see Instruction 4(b)(v). (Over) SEC 1473 (8-92) FORM 3 (continued) Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ------------------------------------------------------------------------------------------------------------------------- 1. Title of 2. Date Exercisable 3. Title and Amount of 4. Conversion or 5. Ownership Form 6. Nature of Indirect Derivative and Expiration Date Underlying Securities Exercise Price of of Derivative Beneficial Ownership Security (Montyh/Day/Year) (Instr. 4) Derivative Security Security: Direct (D) (Instr. 5) (Instr. 4) or Indirect (I) (Instr. 5) --------------------------------------------------------------------------- Date Expiration Amount or Exercisable Date Title Number of Shares ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- Explanation of Responses: /s/ William W. Pettit 2/25/03 ---------------------------------- ---------------------------------- **Signature or Reporting Person Date **Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note:File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. Page 2