Eaton Vance Floating-Rate Income Trust Report of Earnings

BOSTON, April 22 /PRNewswire-FirstCall/ -- Eaton Vance Floating-Rate Income Trust (NYSE: EFT) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three months and the nine months ended February 28, 2010.  The Trust's fiscal year ends on May 31, 2010.

For the three months ended February 28, 2010, the Trust had net investment income of $9,142,270 ($0.244 per common share).  From this amount, the Trust paid dividends on preferred shares of $293,953 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $8,848,317 or $0.236 per common share.  For the nine months ended February 28, 2010, the Trust had net investment income of $27,821,678 ($0.744 per common share).  From this amount, the Trust paid dividends on preferred shares of $1,332,905 (equal to $0.036 for each common share), resulting in net investment income after the preferred dividends of $26,488,773 or $0.708 per common share.  In comparison, for the three months ended February 28, 2009, the Trust had net investment income of $9,668,937 ($0.259 per common share).  From this amount, the Trust paid dividends on preferred shares of $682,224 (equal to $0.018 for each common share), resulting in net investment income after the preferred dividends of $8,986,713 or $0.241 per common share.  For the nine months ended February 28, 2009, the Trust had net investment income of $34,542,831 ($0.925 per common share).  From this amount, the Trust paid dividends on preferred shares of $3,504,598 (equal to $0.094 for each common share), resulting in net investment income after the preferred dividends of $31,038,233 or $0.831 per common share.

Net realized and unrealized gains for the three months ended February 28, 2010 were $33,023,431 ($0.875 per common share).  The Trust's net realized and unrealized gains for the nine months ended February 28, 2010 were $126,855,092 ($3.394 per common share).  In comparison, net realized and unrealized gains for the three months ended February 28, 2009 were $14,601,450 ($0.386 per common share).  The Trust's net realized and unrealized losses for the nine months ended February 28, 2009 were $266,067,160 ($7.122 per common share).

On February 28, 2010, net assets of the Trust applicable to common shares were $553,484,849.  The net asset value per common share on February 28, 2010 was $14.81 based on 37,384,240 common shares outstanding.  In comparison, on February 28, 2009, net assets of the Trust applicable to common shares were $343,597,233.  The net asset value per common share on February 28, 2009 was $9.19 based on 37,378,350 common shares outstanding.  

The Trust 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 $173.1 billion in assets as of March 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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