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Eaton Vance Limited Duration Income Fund Report of Earnings

BOSTON, Nov. 12, 2012 /PRNewswire/ -- Eaton Vance Limited Duration Income Fund (NYSE MKT: EVV) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months and the six months ended September 30, 2012. The Fund's fiscal year ends on March 31, 2013.

For the three months ended September 30, 2012, the Fund had net investment income of $31,765,428 ($0.270 per common share).  From this amount, the Fund paid dividends on preferred shares of $130,752 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $31,634,676 or $0.269 per common share.  For the six months ended September 30, 2012, the Fund had net investment income of $63,523,169 ($0.541 per common share).  From this amount, the Fund paid dividends on preferred shares of $250,380 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $63,272,789 or $0.539 per common share.  In comparison, for the three months ended September 30, 2011, the Fund had net investment income of $32,926,806 ($0.281 per common share).  From this amount, the Fund paid dividends on preferred shares of $111,692 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $32,815,114 or $0.280 per common share.  For the six months ended September 30, 2011, the Fund had net investment income of $65,163,654 ($0.556 per common share).  From this amount, the Fund paid dividends on preferred shares of $240,613 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $64,923,041 or $0.554 per common share.

Net realized and unrealized gains for the three months ended September 30, 2012 were $35,432,302 ($0.295 per common share).  The Fund's net realized and unrealized gains for the six months ended September 30, 2012 were $33,233,144 ($0.276 per common share).  In comparison, net realized and unrealized losses for the three months ended September 30, 2011 were $109,993,985 ($0.937 per common share). The Fund's net realized and unrealized losses for the six months ended September 30, 2011 were $117,558,001 ($1.001 per common share).

On September 30, 2012, net assets of the Fund applicable to common shares were $1,965,811,487. The net asset value per common share on September 30, 2012 was $16.74 based on 117,414,786 common shares outstanding.  In comparison, on September 30, 2011, net assets of the Fund applicable to common shares were $1,860,071,984.  The net asset value per common share on September 30, 2011 was $15.85 based on 117,344,155 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 month-end are also posted to the website approximately 30 days following month-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 $198.2 billion in assets as of September 30, 2012, 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.

EATON VANCE LIMITED DURATION INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)















Three Months Ended


Six Months Ended





September 30,


September 30,





2012


2011


2012


2011


Gross investment income


$39,681


$41,193


$79,412


$81,424


Operating expenses


(5,647)


(5,649)


(11,353)


(11,176)


Interest expense


(2,269)


(2,617)


(4,536)


(5,084)



Net investment income


$31,765


$32,927


$63,523


$65,164


Net realized and unrealized gains (losses)










on investments


$35,432


($109,994)


$33,233


($117,558)


Preferred dividends paid from net investment income

(131)


(112)


(250)


(241)



Net increase (decrease) in net assets











from operations


$67,066


($77,179)


$96,506


($52,635)













Earnings per Common Share Outstanding










Gross investment income


$0.338


$0.351


$0.677


$0.694


Operating expenses


(0.048)


(0.048)


(0.097)


(0.095)


Interest expense


(0.020)


(0.022)


(0.039)


(0.043)



Net investment income


$0.270


$0.281


$0.541

(1)

$0.556

(1)

Net realized and unrealized gains (losses)










on investments


$0.295


($0.937)


$0.276


($1.001)


Preferred dividends paid from net investment income

(0.001)


(0.001)


(0.002)


(0.002)



Net increase (decrease) in net assets











from operations


$0.564


($0.657)


$0.815


($0.447)













Net investment income


$0.270


$0.281


$0.541


$0.556


Preferred dividends paid from net investment income

(0.001)


(0.001)


(0.002)


(0.002)


Net investment income after preferred dividends


$0.269


$0.280


$0.539


$0.554













Net Asset Value at September 30 (Common Share )










Net assets (000)






$1,965,811


$1,860,072



Shares outstanding (000)






117,415


117,344



Net asset value per share outstanding






$16.74


$15.85













Market Value Summary (Common Share )











Market price on NYSE MKT at September 30





$16.98


$14.66



High market price (six months ended September 30)




$17.01


$16.73



Low market price (six months ended September 30)




$15.69


$14.51













(1) For Federal Income Tax purposes, net investment income per share for the six months ended September 30, 2012 and September 30, 2011, was $0.619 and $0.525, respectively.


 

SOURCE Eaton Vance Management

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