Eaton Vance Management Adds Portfolio Manager to Certain Closed-end Funds

BOSTON,Nov. 15, 2019/PRNewswire/ -- Eaton Vance Management ("EVM"), investment adviser to the closed-end funds listed below (the "Funds"), announced that G.R. Nelson will joinMichael A. Allisonas a portfolio manager of the following Funds onDecember 1, 2019:

Eaton Vance Enhanced Equity Income Fund (NYSE: EOI)

Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE:ETJ)

Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY)

Mr. Nelson is a Vice President of EVM and has been a member of EVM's Equity team since 2004, where he is currently an equity analyst.

About Eaton Vance

EVM is a subsidiary of Eaton Vance Corp. Eaton Vance Corp. (EV) provides advanced investment strategies and wealth management solutions to forward-thinking investors around the world. Through principal investment affiliates Eaton Vance Management, Parametric, Atlanta Capital, Hexavest and Calvert, the Company offers a diversity of investment approaches, encompassing bottom-up and top-down fundamental active management, responsible investing, systematic investing and customized implementation of client-specified portfolio exposures. As ofSeptember 30, 2019, Eaton Vance had consolidated assets under management of$489.7 billion. For more information, visit eatonvance.com.

The information contained herein is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares. Shares of the Fund are available for purchase and sale only through secondary market trading on an exchange or alternative trading venue.

Shares of closed-end funds often trade at a discount from their net asset value. The market price of Fund shares may vary from net asset value based on factors affecting the supply and demand for shares, such as Fund distribution rates relative to similar investments, investors' expectations for future distribution changes, the clarity of the Fund's investment strategy and future return expectations, and investors' confidence in the underlying markets in which the Fund invests. Fund shares are subject to investment risk, including possible loss of principal invested. No Fund is a complete investment program and investors may lose money investing in a Fund. An investment in a Fund may not be appropriate for all investors. Before investing, an investor should consider carefully the Fund's investment objective, risks, charges and expenses.

Statements in this press release that are not historical facts are forward-looking statements as defined by U.S. securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.

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