Eaton Vance Risk-Managed Diversified Equity Income Fund Report of Earnings

BOSTON, Sept. 8 /PRNewswire-FirstCall/ -- Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ), a diversified closed-end investment company, today announced the earnings of the Fund for the three and six-month periods ended June 30, 2010.  The Fund's fiscal year ends on December 31, 2010.

For the three months ended June 30, 2010, the Fund had net investment income of $2,041,440 ($0.028 per common share). For the six months ended June 30, 2010, the Fund had net investment income of $4,265,228 ($0.059 per common share).  In comparison, for the three months ended June 30, 2009, the Fund had net investment income of $3,495,893 ($0.049 per common share). For the six months ended June 30, 2009, the Fund had net investment income of $6,772,517 ($0.095 per common share).  

Net realized and unrealized losses for the three months ended June 30, 2010 were $57,179,297 ($0.780 per common share) and net realized and unrealized losses for the six months ended June 30, 2010 were $66,528,726 ($0.909 per common share). In comparison, net realized and unrealized gains for the three months ended June 30, 2009 were $10,152,864 ($0.134 per common share) and net realized and unrealized losses for the six months ended June 30, 2009 were $27,371,239 ($0.395 per common share).

On June 30, 2010, net assets of the Fund were $1,064,927,205.  The net asset value per share on June 30, 2010 was $14.66 based on 72,663,401 shares outstanding.  In comparison, on June 30, 2009, net assets of the Fund were $1,153,874,693.  The net asset value per share on June 30, 2009 was $16.14 based on 71,476,941 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 $17.3.3 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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