Eaton Vance Closed-End Bank Loan Funds Declare Early Monthly Distributions and Special Distribution

BOSTON, Dec. 22, 2010 /PRNewswire-FirstCall/ -- Eaton Vance Management, the Boston-based investment adviser, announced the monthly distributions declared on the common shares of two of its closed-end bank loan funds (the "Funds"). As portfolio and market conditions change, the rate of future distributions may change. The distributions are expected to be paid on January 12, 2011, to shareholders of record on December 31, 2010.  The ex-date is December 29, 2010.  The declaration, record and payment dates of the regular January distribution have been accelerated to allow the Funds to meet their 2010 distribution requirements for federal excise tax purposes.  The Funds expect to declare their next regular monthly distribution in the middle of February for payment at the end of February. The distribution per share for each Fund is as follows:

Eaton Vance Senior Floating-Rate Trust's special distribution is being paid as a result of tax gains from foreign currency hedging transactions related to foreign denominated bank loans and to enable the Fund to meet its 2010 distribution requirement for federal excise tax purposes.

At this time the Funds believe that a portion of the January distributions 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://individuals.eatonvance.com.  The final determination of tax characteristics of each Fund's distribution will occur after the end of the year, at which time it will be reported to the shareholders.

The Funds are 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 $185.2 billion in assets as of October 31, 2010, 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.

SOURCE Eaton Vance Management