Based on the Fund's per share price of $18.98 at the close of the American Stock Exchange on November 30, 2004, the Fund's regular dividend equates to an annualized market yield of 8.50%.

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 over $94 billion in assets under management as of October 31, 2004. Eaton Vance will make available periodic summary information regarding the Fund's portfolio investments. Those interested should call Eaton Vance at 617-482-8260.