Eaton Vance Enhanced Equity Income Fund Report of Earnings

BOSTON, Sept. 8 /PRNewswire-FirstCall/ -- Eaton Vance Enhanced Equity Income Fund (NYSE: EOI), a diversified closed-end investment company, today announced the earnings of the Fund for the three and nine-month periods ended June 30, 2010.  The Fund's fiscal year ends on September 30, 2010.

For the three months ended June 30, 2010, the Fund had net investment income of $913,327 ($0.022 per common share).  For the nine months ended June 30, 2010, the Fund had net investment income of $2,729,733 ($0.068 per common share).  In comparison, for the three months ended June 30, 2009, the Fund had net investment income of $1,618,673 ($0.040 per common share).  For the nine months ended June 30, 2009, the Fund had net investment income of $4,901,727 ($0.123 per common share).  

Net realized and unrealized losses for the three months ended June 30, 2010 were $57,382,328 ($1.441 per common share) and net realized and unrealized losses for the nine months ended June 30, 2010 were $5,855,861 ($0.147 per common share). In comparison, net realized and unrealized gains for the three months ended June 30, 2009 were $49,814,349 ($1.256 per common share) and net realized and unrealized losses for the nine months ended June 30, 2009 were $116,512,338 ($2.935 per common share).

On June 30, 2010, net assets of the Fund were $489,459,239.  The net asset value per common share on June 30, 2010 was $12.27 based on 39,891,989 common shares outstanding.  In comparison, on June 30, 2009, net assets of the Fund were $494,289,271.  The net asset value per common share on June 30, 2009 was $12.45 based on 39,711,336 common shares outstanding.

The Fund is 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 $173.3 billion in assets as of July 31, 2010, 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.

SOURCE Eaton Vance Management

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