Eaton Vance Announces Updated Results Of Equity Option Closed-End Fund Share Repurchase Program

BOSTON, Sept. 19, 2013 /PRNewswire/ -- Eaton Vance Management (EVM), investment adviser to the below-listed Eaton Vance equity option closed-end funds (the Funds), announced today the results of the Funds' share repurchase programs under authorization granted in August 2012 by their Boards of Trustees to repurchase up to 10% of the then currently outstanding common shares in open-market transactions at a discount to net asset value (NAV):

Eaton Vance Enhanced Equity Income Fund (NYSE: EOI)
Eaton Vance Enhanced Equity Income II Fund (NYSE: EOS)
Eaton Vance Tax-Managed Buy-Write Income Fund (NYSE: ETB)
Eaton Vance Tax-Managed Buy-Write Opportunities Fund (NYSE: ETV)
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (NYSE: ETW)
Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE: ETY)
Eaton Vance Tax-Managed Global Diversified Equity Income Fund (NYSE: EXG)
Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ)

From the date they began repurchasing shares until September 18, 2013, the Funds have purchased the number and percentage of their outstanding shares, seen changes in price, discount to NAV and impact to per share NAV as indicated in the table below:

Each Fund's repurchase program is implemented on a discretionary basis under the direction of EVM. There can be no assurance that shares will be repurchased for a Fund in the same or similar amount going forward, or that the market price of Fund shares will continue to increase.

¹ Based on shares outstanding at repurchase program inception.

² A Fund's Beginning Market Price and Beginning NAV Discount are as of the close of the market on the business day preceding its first share repurchase. To date, ETB has not repurchased shares. On September 18, 2013, its NAV Discount was -4.60%.

³ % Return at Market Price reflects the change in the market price of Fund shares plus any distributions paid during the period. Past performance is no guarantee of future results.

⁴ This is the accretion each Fund realized to its NAV from repurchasing its shares at a discount.

Additional information about the Funds, including performance and portfolio characteristic information, is available at www.eatonvance.com.  Information about Fund repurchase activity also is included in Fund shareholder reports.

EVM is a subsidiary of Eaton Vance Corp. (NYSE: EV), one of the oldest investment management firms in the United States, with a history dating back to 1924.  Eaton Vance and its affiliates managed $268.8 billion in assets as of July 31, 2013, offering individuals and institutions a broad array of investment strategies and wealth management solutions.  The Company's long record of providing exemplary service, timely innovation and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors.  For more information about Eaton Vance, visit www.eatonvance.com.

Shares of closed-end funds often trade at a discount from their net asset value.  The market price of Fund shares can be affected by factors such as changing perceptions about the Fund, market conditions, fluctuations in supply and demand for Fund shares, or changes in Fund distributions.  Fund shares are subject to investment risk, including possible loss of principal invested.  No Fund is a complete investment program and you may lose money investing in a Fund.  An investment in a Fund may not be appropriate for all investors.  Before investing, prospective investors should consider carefully the Fund's investment objective, risks, charges and expenses. 

Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.

SOURCE Eaton Vance Management