Eaton Vance Enhanced Equity Income Fund July 2009 Distribution

BOSTON, July 31  /PRNewswire/ -- Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) today announced important information concerning its distribution declared in July 2009.  This press release is issued as required by the Fund's managed distribution plan (Plan) and an exemptive order received from the U.S. Securities and Exchange Commission.  The Board of Trustees has approved the implementation of the Plan to make monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the July distribution.  It is not determinative of the tax character of the Fund's distributions for the 2009 calendar year. Shareholders should note that the Fund's total regular distribution amount is subject to change as a result of market conditions or other factors.

The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations.  The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

  Distribution Period:  July 2009
  Distribution Amount per Common Share:  $0.137



The following table sets forth an estimate of the sources of the Fund's July distribution and its cumulative distributions paid this fiscal year to date.  Amounts are expressed on a per common share basis and as a percentage of the distribution amount.

                        Eaton Vance Enhanced Equity Income Fund
                        ---------------------------------------
                                                               % of the
                                             Cumulative       Cumulative
                                            Distributions    Distributions
                 Current     % of Current   for the Fiscal   for the Fiscal
  Source       Distribution  Distribution  Year-to-Date(1)  Year to Date(1)
  ------       ------------  ------------  ---------------  ---------------
  Net Investment
   Income         $0.009         6.4%          $0.130             9.5%
  --------------  ------         ----          ------             ----
  Net Realized
   Short-Term
   Capital Gains  $0.000         0.0%          $0.000             0.0%
  --------------  ------         ----          ------             ----
  Net Realized
   Long-Term
   Capital Gains  $0.000         0.0%          $0.000             0.0%
  --------------  ------         ----          ------             ----
  Return of
   Capital or
   Other Capital
   Source(s)      $0.128        93.6%          $1.240            90.5%
  --------------  ------        -----          ------            -----
  Total per
   common share   $0.137       100.0%          $1.370           100.0%
  --------------  ------       ------          ------           ------

  (1) The Fund's fiscal year is October 1, 2008 to September 30, 2009



IMPORTANT DISCLOSURE:  You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Plan.  The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income.'  The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes.  The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Set forth in the table below is information relating to the Fund's performance based on its net asset value (NAV) for certain periods.

  Average annual total return at NAV for the period from
   inception through June 30, 2009(1)                              1.15%
  ------------------------------------------------------           -----
  Annualized current distribution rate expressed as a
   percentage of NAV as of June 30, 2009(2)                       13.20%
  ---------------------------------------------------             ------
  Cumulative total return at NAV for the fiscal year
   through June 30, 2009(3)                                      -15.83%
  --------------------------------------------------             -------
  Cumulative fiscal year to date distribution rate as a
   percentage of NAV as of June 30, 2009(4)                        9.90%
  -----------------------------------------------------            -----

  (1) Average annual total return at NAV represents the simple arithmetic
      average of the annual NAV total returns of the Fund for the period
      from inception (10/29/2004) through June 30, 2009.
  (2) The annualized current distribution rate is the cumulative
      distribution rate annualized as a percentage of the Fund's NAV as of
      June 30, 2009.
  (3) Cumulative total return at NAV is the percentage change in the Fund's
      NAV for the period from the beginning of its fiscal year to June 30,
      2009 including distributions paid and assuming reinvestment of those
      distributions.
  (4) Cumulative fiscal year distribution rate for the period from the
      beginning of its fiscal year to June 30, 2009 measured on the dollar
      value of distributions in the year-to-date period as a percentage of
      the Fund's NAV as of June 30, 2009.



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 $136.3 billion in assets as of June 30, 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 http://www.eatonvance.com/. 

DATASOURCE: Eaton Vance Management



CONTACT:  Investors, Eaton Vance Management, [phone]



Web Site:  http://www.eatonvance.com/ 

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