BOSTON, Sept. 2 /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 months ended June 30, 2009 and the nine months ended June 30, 2009. The Fund's fiscal year ends on September 30, 2009. 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). In comparison, for the three months ended June 30, 2008, the Fund had net investment income of $1,930,498 ($0.048 per common share). For the nine months ended June 30, 2008, the Fund had net investment income of $4,771,430 ($0.120 per common share). 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). In comparison, net realized and unrealized losses for the three months ended June 30, 2008 were $3,663,013 ($0.090 per common share) and net realized and unrealized losses for the nine months ended June 30, 2008 were $63,280,663 ($1.595 per common share). 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. In comparison, on June 30, 2008, net assets of the Fund were $725,579,314. The net asset value per common share on June 30, 2008 was $18.28 based on 39,685,160 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 $143.7 billion in assets as of July 31, 2009, offering individuals and institutions a broad array of investment products 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 http://www.eatonvance.com/. EATON VANCE ENHANCED EQUITY INCOME FUND SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended Nine Months Ended June 30, June 30, -------- -------- 2009 2008 2009 2008 ---- ---- ---- ---- Gross investment income $3,038 $4,060 $9,234 $11,091 Operating expenses (1,419) (2,130) (4,332) (6,320) ------ ------ ------ ------ Net investment income $1,619 $1,930 $4,902 $4,771 Net realized and unrealized gains (losses)on investments $49,815 $(3,663) $(116,512) $(63,281) ------- ------- --------- -------- Net increase (decrease) in net assets from operations $51,434 $(1,733) $(111,610) $(58,510) ======= ======= ========= ======== Earnings per Share Outstanding ------------------ Gross investment income $0.076 $0.102 $0.232 $0.279 Operating expenses (0.036) (0.054) (0.109) (0.159) ------ ------ ------ ------ Net investment income $0.040 $0.048 $0.123 $0.120 Net realized and unrealized gains (losses) on investments $1.256 $(0.090) $(2.935) $(1.595) ------ ------- ------- ------- Net increase (decrease) in net assets from operations $1.296 $(0.042) $(2.812) $(1.475) ====== ======= ======= ======= Net Asset Value at June 30 (Common Shares ) ------------------ Net assets $494,289 $725,579 Shares outstanding 39,711 39,685 Net asset value per share outstanding $12.45 $18.28 Market Value Summary (Common Shares ) ---------------------- Market price on NYSE at June 30 $12.30 $17.48 High market price (period ended June 30) $13.56 $19.65 Low market price (period ended June 30) $8.14 $16.36 DATASOURCE: Eaton Vance Management CONTACT: Investor Contact: +1-800-262-1122 Web Site: http://www.www.eatonvance.com/

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