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Eaton Vance Tax-Managed Buy-Write Closed-End Equity Funds Declare Quarterly Distributions

BOSTON, Dec. 14, 2012 /PRNewswire/ -- Eaton Vance Management ("EVM"), the Boston-based investment adviser, today announced the quarterly distributions declared on the common shares of two of its closed-end equity funds (the "Funds"). The record date for the distributions is December 24, 2012, and the payable date is December 31, 2012. The ex-date is December 20, 2012.  The distribution per share for each Fund is as follows:                                                                                                                 


Distribution 

Fund                          

Per Share



Eaton Vance Tax-Managed Buy-Write Opportunities Fund (NYSE:ETV)       

$0.3323

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (NYSE:ETW)    

$0.2920

At this time the Funds believe that a portion of the December distribution may be comprised of amounts from sources other than net investment income.  If that is the case, you will be notified in writing.  Further information will be available prior to the payment date at http://funds.eatonvance.com.  The final determination of tax characteristics of the Fund's distributions will occur after the end of the year, at which time it will be reported to the shareholders.

The Trustees of the Funds have approved a change in the frequency of regular Fund distributions from quarterly to monthly.  As a result of the change, beginning in January 2013, Fund shareholders will receive one-third of the current quarterly distribution on a monthly basis rather than the full current distribution once every three months.  The change does not affect total distribution amounts paid over the calendar year.   EVM believes that the change will simplify the Funds' internal cash management and make the Funds more attractive to investors seeking regular monthly distributions.

EVM a subsidiary of Eaton Vance Corp. (NYSE: EV) is one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $199.5 billion in assets as of October 31, 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.

Shares of closed-end funds often trade at a discount from their net asset value. The market price of Fund shares may vary from net asset value based on factors affecting the supply and demand for shares, such as Fund distribution rates relative to similar investments, investors' expectations for future distribution changes, the clarity of the Fund's investment strategy and future return expectations, and investors' confidence in the underlying markets in which the Fund invests. Fund shares are subject to investment risk, including possible loss of principal invested. No Fund is a complete investment program and you may lose money investing in a Fund. An investment in a Fund may not be appropriate for all investors. Before investing, prospective investors should consider carefully the Fund's investment objective, risks, charges and expenses.

SOURCE Eaton Vance Management

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