EVT Eaton Vance Tax Advantaged Dividend Income Fund

Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT), a diversified closed-end investment company, today announced the earnings of the Fund for the three months ended May 31, 2008 and for the nine months ended May 31, 2008. The Fund�s fiscal year ends on August 31, 2008. For the three months ended May 31, 2008, the Fund had net investment income of $73,819,488 ($1.014 per common share). From this amount, the Fund paid dividends on preferred shares of $2,930,875 (equal to $0.040 for each common share), resulting in net investment income after the preferred dividends of $70,888,613 or $0.974 per common share. For the nine months ended May 31, 2008, the Fund had net investment income of $135,029,358 ($1.854 per common share). From this amount, the Fund paid dividends on preferred shares of $20,059,123 (equal to $0.275 for each common share), resulting in net investment income after the preferred dividends of $114,970,235 or $1.579 per common share. In comparison, for the three months ended May 31, 2007, the Fund had net investment income of $74,253,654 ($1.020 per common share). From this amount, the Fund paid dividends on preferred shares of $7,934,650 (equal to $0.109 for each common share), resulting in net investment income after the preferred dividends of $66,319,004 or $0.911 per common share. For the nine months ended May 31, 2007, the Fund had net investment income of $120,406,361 ($1.653 per common share). From this amount, the Fund paid dividends on preferred shares of $23,570,973 (equal to $0.324 for each common share), resulting in net investment income after the preferred dividends of $96,835,388 or $1.329 per common share. Net realized and unrealized gains for the three months ended May 31, 2008 were $65,793,025 ($0.903 per common share) and net realized and unrealized losses for the nine months ended May 31, 2008 were $102,731,533 ($1.410 per common share). In comparison, net realized and unrealized gains for the three months ended May 31, 2007 were $246,398,667 ($3.383 per common share) and net realized and unrealized gains for the nine months ended May 31, 2007 were $439,643,863 ($6.036 per common share). On May 31, 2008, net assets of the Fund were $2,117,490,534. The net asset value per share on May 31, 2008 was $29.07 based on 72,835,900 shares outstanding. In comparison, on May 31, 2007, net assets applicable to common shares of the Fund were $2,406,819,243. The net asset value per common share on May 31, 2007 was $33.04 based on 72,835,900 common shares outstanding. The Fund is managed by Eaton Vance Management. Eaton Vance and its affiliates had $156.7 billion in assets under management as of June 30, 2008. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance Marketing at (800) 262-1122. EATON VANCE TAX-ADVANTAGED DIVIDEND INCOME FUND SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per share amounts) � � � � � Three Months Ended Nine Months Ended May 31, May 31, 2008 � 2007 � 2008 � 2007 � Gross investment income $82,838 $79,860 $154,869 $136,348 Operating expenses (9,019 ) (5,606 ) (19,840 ) (15,942 ) Net investment income $73,819 $74,254 $135,029 $120,406 Net realized and unrealized gains (losses) on investments $65,793 $246,399 ($102,731 ) $439,644 Preferred dividends paid (1) ($2,931 ) ($7,935 ) ($20,059 ) ($23,571 ) Net increase (decrease) in net assets from operations $136,681 � $312,718 � $12,239 � $536,479 � � Earnings per Common Share Outstanding Gross investment income $1.137 $1.097 $2.126 $1.872 Operating expenses (0.123 ) (0.077 ) (0.272 ) (0.219 ) Net investment income $1.014 $1.020 $1.854 $1.653 Net realized and unrealized gains (losses) on investments $0.903 $3.383 ($1.410 ) $6.036 Preferred dividends paid (1) (0.040 ) (0.109 ) (0.275 ) (0.324 ) Net increase (decrease) in net assets from operations $1.877 � $4.294 � $0.169 � $7.365 � � Net investment income $1.014 $1.020 $1.854 $1.653 Preferred dividends paid (0.040 ) (0.109 ) (0.275 ) (0.324 ) Net investment income after preferred dividends $0.974 � $0.911 � $1.579 � $1.329 � � � Net Asset Value at May 31(Common Shares) Net assets (000) $2,117,491 $2,406,819 Shares outstanding (000) 72,836 72,836 Net asset value per share outstanding $29.07 $33.04 � Market Value Summary (Common Shares) Market price on NYSE at May 31 $25.95 $30.45 High market price (nine months ended May 31) $29.40 $30.45 Low market price (nine months ended May 31) $22.67 $24.84 � � (1) As of April 23, 2008, all series of preferred shares had been redeemed.