Eaton Vance Closed-End Equity Funds Declare Monthly Distributions

BOSTON, Dec. 13, 2013 /PRNewswire/ -- Eaton Vance Management, the Boston-based investment adviser, announced the monthly distributions declared on the common shares of two of its closed-end equity funds (the "Funds").  As portfolio and market conditions change, the rate of future distributions may change. The record date for the distributions is December 24, 2013, and the payable date is December 31, 2013. The ex-date is December 20, 2013.  The distribution per share for each Fund is as follows:

A Fund's distribution rate may be affected by numerous factors, including changes in realized and projected market returns, Fund performance and other factors. There can be no assurance that an unanticipated change in market conditions or other unforeseen factors will not result in a change in a Fund's distribution rate at a future time.

It is also anticipated that each of the Funds will accelerate the declaration and payment of its January 2014 monthly distribution to avoid being subject to 2013 federal excise tax.  The Funds' January distributions are expected to be declared later this month and payable in early January to shareholders of record on December 31, 2013.  In February 2014, each Fund expects to resume its regular monthly distribution and payment schedule.

At this time the Funds believe that a portion of the December distributions may be comprised of amounts from sources other than net investment income.  If that is the case, you will be notified in writing.  Further information will be available prior to the payment date at http://funds.eatonvance.com.  The final determination of tax characteristics of each Fund's distributions will occur after the end of the year, at which time it will be reported to the shareholders.

The Funds are managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $280.7 billion in assets as of October 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 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 may vary from net asset value based on factors affecting the supply and demand for shares, such as Fund distribution rates relative to similar investments, investors' expectations for future distribution changes, the clarity of the Fund's investment strategy and future return expectations, and investors' confidence in the underlying markets in which the Fund invests. 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.

SOURCE Eaton Vance Management

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