Eaton Vance Tax-Managed Global Diversified Equity Income Fund Report of Earnings

Jan 05, 2010, 14:56 ET from Eaton Vance Management

BOSTON, Jan. 5 /PRNewswire-FirstCall/ -- Eaton Vance Tax-Managed Global Diversified Equity Income Fund (NYSE: EXG), a diversified closed-end investment company, today announced the earnings of the Fund for the three months ended October 31, 2009 and the year ended October 31, 2009. The Fund's fiscal year ended on October 31, 2009.

For the three months ended October 31, 2009, the Fund had net investment income of $9,837,525 ($0.033 per common share). For the year ended October 31, 2009, the Fund had net investment income of $77,622,557 ($0.257 per common share). In comparison, for the three months ended October 31, 2008, the Fund had net investment income of $12,070,933 ($0.040 per common share). For the year ended October 31, 2008, the Fund had net investment income of $114,115,511 ($0.378 per common share).

Net realized and unrealized gains for the three months ended October 31, 2009 were $198,588,588 ($0.657 per common share) and net realized and unrealized gains for the year ended October 31, 2009 were $484,466,082 ($1.603 per common share). In comparison, net realized and unrealized losses for the three months ended October 31, 2008 were $1,130,298,099 ($3.738 per common share) and net realized and unrealized losses for the year ended October 31, 2008 were $1,731,813,507 ($5.728 per common share).

On October 31, 2009, net assets of the Fund were $3,719,728,520. The net asset value per common share on October 31, 2009 was $12.30 based on 302,498,199 common shares outstanding. In comparison, on October 31, 2008, net assets of the Fund were $3,729,357,159. The net asset value per common share on October 31, 2008 was $12.34 based on 302,284,868 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 $154.9 billion in assets as of October 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 www.eatonvance.com.


          EATON VANCE TAX-MANAGED GLOBAL DIVERSIFIED EQUITY INCOME FUND
                          SUMMARY OF RESULTS OF OPERATIONS
                      (in thousands, except per share amounts)

                                Three Months Ended          Year Ended
                                    October 31,             October 31,
                                    -----------             -----------
                                 2009         2008        2009       2008
                                 ----         ----        ----       ----
    Gross investment
     income                   $19,464      $23,523    $114,072     $168,954
    Operating expenses         (9,626)     (11,452)    (36,449)     (54,838)
                               ------      -------     -------      -------
      Net investment income    $9,838      $12,071     $77,623     $114,116
    Net realized and
     unrealized gains
     (losses) on
     investments             $198,589  $(1,130,299)   $484,466  $(1,731,814)
                             --------  -----------    --------  -----------
      Net increase
       (decrease) in net
       assets from
       operations            $208,427  $(1,118,228)   $562,089  $(1,617,698)
                             ========  ===========    ========  ===========

    Earnings per Share Outstanding
    ------------------------------
    Gross investment income    $0.064       $0.078      $0.377       $0.559
    Operating expenses         (0.031)      (0.038)     (0.120)      (0.181)
                               ------       ------      ------       ------
      Net investment income     $0.033       $0.040      $0.257       $0.378
    Net realized
     and unrealized
     gains (losses)
     on investments            $0.657      $(3.738)     $1.603      $(5.728)
                               ------      -------      ------      -------
      Net increase
       (decrease)
       in net assets
       from operations         $0.690      $(3.698)     $1.860      $(5.350)
                               ======      =======      ======      =======


    Net Asset Value at
     October 31 (Common Shares)
    ---------------------------
      Net assets                                    $3,719,729   $3,729,357
      Shares outstanding                               302,498      302,285
      Net asset value per
       share outstanding                                $12.30       $12.34

    Market Value Summary
     (Common Shares )
    --------------------
      Market price on NYSE
       at October 31                                    $12.06       $10.45
      High market price
       (period ended
       October 31)                                      $12.96       $17.55
      Low market price
       (period ended
       October 31)                                       $6.86        $8.15

SOURCE Eaton Vance Management



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