Eaton Vance Tax-Advantaged Dividend Income Fund Report of Earnings

  
    
  
  
    
      Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT), a 
      closed-end management investment company, today announced the earnings 
      of the Fund for the three month period and year ended August 31, 2006. 
      The Fund’s fiscal year ended on August 31, 
      2006.
    
    
      For the three months ended August 31, 2006, the Fund had net investment 
      income of $23,243,398 ($0.319 per common share). From this amount, the 
      Fund paid dividends on preferred shares of $7,916,433 (equal to $0.109 
      for each common share), resulting in net investment income after the 
      preferred dividends of $15,326,965 or $0.210 per common share. For the 
      year ended August 31, 2006, the Fund had net investment income of 
      $154,260,675 ($2.118 per common share). From this amount, the Fund paid 
      dividends on preferred shares of $28,675,922 (equal to $0.394 for each 
      common share), resulting in net investment income after the preferred 
      dividends of $125,584,753 or $1.724 per common share. In comparison, for 
      the three months ended August 31, 2005, the Fund had net investment 
      income of $40,888,098 ($0.561 per common share). From this amount, the 
      Fund paid dividends on preferred shares of $5,543,621 (equal to $0.076 
      for each common share), resulting in net investment income after the 
      preferred dividends of $35,344,477 or $0.485 per common share. For the 
      year ended August 31, 2005, the Fund had net investment income of 
      $128,005,780 ($1.757 per common share). From this amount, the Fund paid 
      dividends on preferred shares of $17,381,704 (equal to $0.239 for each 
      common share), resulting in net investment income after the preferred 
      dividends of $110,624,076 or $1.518 per common share.
    
    
      Net realized and unrealized gains for the three months ended August 31, 
      2006 were $73,811,062 ($1.014 per common share) and net realized and 
      unrealized gains for the year ended August 31, 2006 were $137,582,112 
      ($1.890 per common share). In comparison, net realized and unrealized 
      gains for the three months ended August 31, 2005 were $92,119,302 
      ($1.265 per common share) and net realized and unrealized gains for the 
      year ended August 31, 2005 were $258,727,652 ($3.552 per common share).
    
    
      On August 31, 2006, net assets applicable to common shares of the Fund 
      were $1,960,095,672. The net asset value per common share on August 31, 
      2006 was $26.91 based on 72,835,900 common shares outstanding. In 
      comparison, on August 31, 2005, net assets of the Fund were 
      $1,810,822,305. The net asset value per common share on August 31, 2005 
      was $24.86 based on 72,835,900 common shares outstanding.
    
    
      The Fund is managed by Eaton Vance Management, a subsidiary of Eaton 
      Vance Corp., which is listed on the New York Stock Exchange under the 
      symbol EV. Eaton Vance and its affiliates had approximately $124.1 
      billion in assets under management as of September 30, 2006. Eaton Vance 
      Management will make available periodic summary information regarding 
      portfolio investments. Those interested should call Eaton Vance 
      Marketing at [phone].
    
    
      
        
          EATON VANCE TAX-ADVANTAGED DIVIDEND INCOME FUND
        
      
      
        
          SUMMARY OF RESULTS OF OPERATIONS
        
      
      
        
          (in thousands, except per share amounts)
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
          Three Months Ended
        
        
          Year Ended
        
      
      
        
        
        
        
        
          August 31,
        
        
          August 31,
        
      
      
        
        
        
        
        
          2006 
        
        
          2005 
        
        
          2006 
        
        
          2005 
        
      
      
        
          Gross investment income
        
        
        
        
          $28,344 
        
        
          $45,663 
        
        
          $173,620 
        
        
          $146,313 
        
      
      
        
          Operating expenses
        
        
        
        
          5,101 
        
        
          4,774 
        
        
          19,359 
        
        
          18,307 
        
      
      
        
        
        
          Net investment income
        
        
          $23,243 
        
        
          $40,889 
        
        
          $154,261 
        
        
          $128,006 
        
      
      
        
          Net realized and unrealized gains (losses) on investments
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
          $73,811 
        
        
          $92,120 
        
        
          $137,582 
        
        
          $258,728 
        
      
      
        
          Preferred dividends paid
        
        
        
        
          ($7,916)
        
        
          ($5,544)
        
        
          ($28,676)
        
        
          ($17,382)
        
      
      
        
        
        
          Net increase (decrease) in net assets from operations
        
        
        
        
        
        
        
        
        
      
      
        
        
        
          $89,138 
        
        
          $127,465 
        
        
          $263,167 
        
        
          $369,352 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Earnings per Common Share Outstanding
        
        
        
        
        
        
        
      
      
        
          Gross investment income
        
        
        
        
          $0.389 
        
        
          $0.627 
        
        
          $2.384 
        
        
          $2.008 
        
      
      
        
          Operating expenses
        
        
        
        
          0.070 
        
        
          0.066 
        
        
          $0.266 
        
        
          0.251 
        
      
      
        
        
        
          Net investment income
        
        
          $0.319 
        
        
          $0.561 
        
        
          $2.118 
        
        
          $1.757 
        
      
      
        
          Net realized and unrealized gains (losses) on investments
        
        
        
        
        
        
        
        
        
        
        
      
      
        
        
        
          $1.014 
        
        
          $1.265 
        
        
          $1.890 
        
        
          $3.552 
        
      
      
        
          Preferred dividends paid
        
        
        
        
          (0.109)
        
        
          (0.076)
        
        
          ($0.394)
        
        
          (0.239)
        
      
      
        
        
        
          Net increase (decrease) in net assets from operations
        
        
        
        
        
        
        
        
        
      
      
        
        
        
          $1.225 
        
        
          $1.750 
        
        
          $3.614 
        
        
          $5.070 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Net investment income
        
        
        
        
          $0.319 
        
        
          $0.561 
        
        
          $2.118 
        
        
          $1.757 
        
      
      
        
          Preferred dividends paid
        
        
        
        
          (0.109)
        
        
          (0.076)
        
        
          (0.394)
        
        
          (0.239)
        
      
      
        
          Net investment income after preferred dividends
        
        
        
        
          $0.210 
        
        
          $0.485 
        
        
          $1.724 
        
        
          $1.518 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Net Asset Value at August 31(Common Shares)
        
        
        
        
        
        
        
      
      
        
        
        
          Net assets (000)
        
        
        
        
        
        
          $1,960,096 
        
        
          $1,810,822 
        
      
      
        
        
        
          Shares outstanding (000)
        
        
        
        
        
        
          72,836 
        
        
          72,836 
        
      
      
        
        
        
          Net asset value per share outstanding
        
        
        
        
        
        
          $26.91 
        
        
          $24.86 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Market Value Summary (Common Shares)
        
        
        
        
        
        
        
      
      
        
        
        
          Market price on NYSE at August 31
        
        
        
        
        
        
          $25.55 
        
        
          $21.69 
        
      
      
        
        
        
          High market price (year ended August 31)
        
        
        
        
        
        
          $25.62 
        
        
          $22.41 
        
      
      
        
        
        
          Low market price (year ended August 31)
        
        
        
        
        
        
          $20.56 
        
        
          $19.20 
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
    
  
Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT), a
closed-end management investment company, today announced the earnings
of the Fund for the three month period and year ended August 31, 2006.
The Fund's fiscal year ended on August 31, 2006.

   For the three months ended August 31, 2006, the Fund had net
investment income of $23,243,398 ($0.319 per common share). From this
amount, the Fund paid dividends on preferred shares of $7,916,433
(equal to $0.109 for each common share), resulting in net investment
income after the preferred dividends of $15,326,965 or $0.210 per
common share. For the year ended August 31, 2006, the Fund had net
investment income of $154,260,675 ($2.118 per common share). From this
amount, the Fund paid dividends on preferred shares of $28,675,922
(equal to $0.394 for each common share), resulting in net investment
income after the preferred dividends of $125,584,753 or $1.724 per
common share. In comparison, for the three months ended August 31,
2005, the Fund had net investment income of $40,888,098 ($0.561 per
common share). From this amount, the Fund paid dividends on preferred
shares of $5,543,621 (equal to $0.076 for each common share),
resulting in net investment income after the preferred dividends of
$35,344,477 or $0.485 per common share. For the year ended August 31,
2005, the Fund had net investment income of $128,005,780 ($1.757 per
common share). From this amount, the Fund paid dividends on preferred
shares of $17,381,704 (equal to $0.239 for each common share),
resulting in net investment income after the preferred dividends of
$110,624,076 or $1.518 per common share.

   Net realized and unrealized gains for the three months ended
August 31, 2006 were $73,811,062 ($1.014 per common share) and net
realized and unrealized gains for the year ended August 31, 2006 were
$137,582,112 ($1.890 per common share). In comparison, net realized
and unrealized gains for the three months ended August 31, 2005 were
$92,119,302 ($1.265 per common share) and net realized and unrealized
gains for the year ended August 31, 2005 were $258,727,652 ($3.552 per
common share).

   On August 31, 2006, net assets applicable to common shares of the
Fund were $1,960,095,672. The net asset value per common share on
August 31, 2006 was $26.91 based on 72,835,900 common shares
outstanding. In comparison, on August 31, 2005, net assets of the Fund
were $1,810,822,305. The net asset value per common share on August
31, 2005 was $24.86 based on 72,835,900 common shares outstanding.

   The Fund is managed by Eaton Vance Management, a subsidiary of
Eaton Vance Corp., which is listed on the New York Stock Exchange
under the symbol EV. Eaton Vance and its affiliates had approximately
$124.1 billion in assets under management as of September 30, 2006.
Eaton Vance Management will make available periodic summary
information regarding portfolio investments. Those interested should
call Eaton Vance Marketing at [phone].

-0-
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           EATON VANCE TAX-ADVANTAGED DIVIDEND INCOME FUND
                   SUMMARY OF RESULTS OF OPERATIONS
               (in thousands, except per share amounts)

                              Three Months Ended      Year Ended
                                  August 31,          August 31,
                              ----------------------------------------
                                2006     2005      2006       2005
                              ----------------------------------------
Gross
 investment
 income                        $28,344  $45,663   $173,620   $146,313
Operating
 expenses                        5,101    4,774     19,359     18,307
                              ----------------------------------------
             Net investment
              income           $23,243  $40,889   $154,261   $128,006
Net realized
 and
 unrealized
 gains
 (losses) on
 investments                   $73,811  $92,120   $137,582   $258,728
Preferred
 dividends
 paid                          ($7,916) ($5,544)  ($28,676)  ($17,382)
                              ----------------------------------------
             Net increase
              (decrease) in
              net assets from
              operations       $89,138 $127,465   $263,167   $369,352
                              ========================================

Earnings per Common Share Outstanding
---------------------------------------
Gross
 investment
 income                         $0.389   $0.627     $2.384     $2.008
Operating
 expenses                        0.070    0.066     $0.266      0.251
                              ----------------------------------------
             Net investment
              income            $0.319   $0.561     $2.118     $1.757
Net realized
 and
 unrealized
 gains
 (losses) on
 investments                    $1.014   $1.265     $1.890     $3.552
Preferred
 dividends
 paid                           (0.109)  (0.076)   ($0.394)    (0.239)
                              ----------------------------------------
             Net increase
              (decrease) in
              net assets from
              operations        $1.225   $1.750     $3.614     $5.070
                              ========================================

Net
 investment
 income                         $0.319   $0.561     $2.118     $1.757
Preferred
 dividends
 paid                           (0.109)  (0.076)    (0.394)    (0.239)
                              ----------------------------------------
Net
 investment
 income after
 preferred
 dividends                      $0.210   $0.485     $1.724     $1.518
                              ========================================


Net Asset Value at August 31(Common
 Shares)
---------------------------------------
             Net assets (000)                   $1,960,096 $1,810,822
             Shares
              outstanding
              (000)                                 72,836     72,836
             Net asset value
              per share
              outstanding                           $26.91     $24.86

Market Value Summary (Common Shares)
---------------------------------------
             Market price on
              NYSE at August
              31                                    $25.55     $21.69
             High market price
              (year ended
              August 31)                            $25.62     $22.41
             Low market price
              (year ended
              August 31)                            $20.56     $19.20

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