Eaton Vance Tax-Advantaged Dividend Income Fund Declares Increase in Monthly Dividend

Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE:
EVT), a diversified closed-end investment company, today announced an
increase in the Fund's monthly dividend. The monthly dividend is being
increased from $0.1125 to $0.1175 per share. The dividend increase
will be reflected in the Fund's August 31, 2005 dividend payment to
shareholders of record on August 24, 2005. The ex-dividend date is
August 22, 2005.
   The dividend increase reflects growth in the dividends being paid
by securities owned in the Fund's portfolio. In recent periods many of
the companies represented in the Fund's portfolio have increased their
regular dividend payment and in a number of cases have declared
special one-time dividends. In addition, dividend income generated by
the Fund has been enhanced by the successful implementation of the
Fund's dividend capture strategy. The amount of monthly dividend
distributions may vary as portfolio and market conditions change.
   Based on the Fund's per share price of $21.78 at the close of the
New York Stock Exchange on August 12, 2005, the Fund's monthly
dividend equates to an annualized market yield of 6.47%.
   The Fund's investment objective is to provide a high level of
after-tax total return consisting primarily of tax-advantaged dividend
income and capital appreciation. The Fund invests at least 80% of its
assets in a diversified portfolio of dividend-paying common and
preferred stocks that Eaton Vance Management believes, at the time of
investment, are eligible to pay dividends that qualify for federal
income taxation at long-term capital gain rates ("tax-advantaged
dividends"). In selecting securities, the Fund invests primarily in
stocks of U.S. and non-U.S. companies that produce attractive levels
of tax-advantaged dividends and are, in the opinion of Eaton Vance,
undervalued or inexpensive relative to the overall market. For its
investments in common stocks, the Fund also seeks to invest in
securities that Eaton Vance believes have the potential for growth of
income and capital appreciation over time.
   The Fund is managed by Eaton Vance Management. Eaton Vance and its
affiliates had $106 billion in assets under management on July 31,
2005. Eaton Vance Management will make available periodic summary
information regarding portfolio investments. Those interested should
call Eaton Vance at [phone].