Eaton Vance Tax-Advantaged Bond and Option Strategies Fund Report of Earnings

BOSTON, Dec. 22, 2011 /PRNewswire/ -- Eaton Vance Tax-Advantaged Bond and Option Strategies Fund (NYSE: EXD) (the "Fund"), a diversified closed-end management investment company, today announced the earnings of the Fund for the three and nine-month periods ended September 30, 2011.  The Fund's fiscal year ends on December 31, 2011.

For the three months ended September 30, 2011, the Fund had net investment income of $149,216 ($0.014 per common share).  For the nine months ended September 30, 2011, the Fund had net investment income of $510,585 ($0.048 per common share).  In comparison, for the three months ended September 30, 2010, the Fund had net investment income of $35,805 ($0.003 per common share).  For the period from the start of business, June 29, 2010, to September 30, 2010, the Fund had net investment income of $21,824 ($0.002 per common share). 

Net realized and unrealized losses for the three months ended September 30, 2011 were $117,000 ($.009 per common share) and net realized and unrealized gains for the nine months ended September 30, 2011 were $15,489,172 ($1.467 per common share). In comparison, net realized and unrealized gains for the three months ended September 30, 2010 were $753,290 ($0.076 per common share).  Net realized and unrealized gains for the period from the start of business, June 29, 2010, to September 30, 2010 were $1,173,933 ($0.117 per common share). 

On September 30, 2011, net assets of the Fund were $191,392,390.  The net asset value per common share on September 30, 2011 was $18.13 based on 10,556,552 common shares outstanding.  In comparison, on September 30, 2010, net assets of the Fund were $197,896,206.  The net asset value per share on September 30, 2010 was $18.75 based on 10,554,000 common shares outstanding.   

The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors – Closed-End Funds").  Fund portfolio holdings for the most recent calendar quarter-end are also posted to the website approximately 30 days following quarter-end. 

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 $188.2 billion in assets as of October 31, 2011, 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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