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Eaton Vance Tax-Advantaged Bond And Option Strategies Fund Report Of Earnings

BOSTON, June 18, 2012 /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 months ended March 31, 2012. The Fund's fiscal year ends on December 31, 2012.

For the three months ended March 31, 2012, the Fund had net investment income of $47,843 ($0.005 per common share). In comparison, for the three months ended March 31, 2011, the Fund had net investment income of $227,903 ($0.022 per common share).

Net realized and unrealized losses for the three months ended March 31, 2012 were $1,473,124 ($0.140 per common share). In comparison, net realized and unrealized gains for the three months ended March 31, 2011 were $3,737,758 ($0.354 per common share).

On March 31, 2012, net assets of the Fund were $188,595,833. The net asset value per common share on March 31, 2012 was $17.87 based on 10,556,552 common shares outstanding. In comparison, on March 31, 2011, net assets of the Fund were $188,331,363. The net asset value per share on March 31, 2011 was $17.84 based on 10,556,552 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 $197.5 billion in assets as of April 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 TAX-ADVANTAGED BOND AND OPTION STRATEGIES FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)

		Three Months Ended
		March 31,
		2012	2011
Net investment income		$ 48	$ 228
Net realized and unrealized gains (losses)
on investments		(1,473)	3,738
	Net increase (decrease) in net assets
	from operations	$ (1,425)	$ 3,966

Earnings per Share Outstanding
Net investment income		$ 0.005	$ 0.022
Net realized and unrealized gains (losses)
on investments		(0.140)	0.354
	Net increase (decrease) in net assets
	from operations	$ (0.135)	$ 0.376

Net Asset Value at March 31
	Net assets	$ 188,596	$ 188,331
	Shares outstanding	10,557	10,557
	Net asset value per share outstanding	$ 17.87	$ 17.84

Market Value Summary
	Market price on NYSE at March 31	$ 16.90	$ 16.55
	High market price (period ended March 31)	$ 17.52	$ 17.39
	Low market price (period ended March 31)	$ 16.56	$ 16.12