Trustees of Eaton Vance Enhanced Equity Income Fund and Eaton Vance Enhanced Equity Income Fund II Approve Change in Investment

BOSTON, Nov. 19  /PRNewswire-FirstCall/ -- The Trustees of Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) and Eaton Vance Enhanced Equity Income Fund II (NYSE:EOS), each a diversified, closed-end investment company (collectively, the "Funds" and each a "Fund"), have approved a change to the Funds' investment policies with respect to the sale of stock underlying a call option.

As part of its investment program, each Fund sells call options on a substantial portion of the stocks it holds and is required to buy back a call option before selling the stock underlying that option.  The investment policy change approved by the Board allows a Fund to sell the stock underlying a call option prior to purchasing back the call option on up to 5% of the Fund's net assets, provided that such sales occur no more than three days before the option buy back.  Under the Funds' current policies, call options are covered continuously.

The Funds are managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE:EV).  Eaton Vance is 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 http://www.eatonvance.com/. 

DATASOURCE: Eaton Vance Management



CONTACT:  Investors, Jonathan Isaac of Eaton Vance, [phone]



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

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