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Eaton Vance Tax-Managed Diversified Equity Income Fund Report of Earnings as of October 31, 2008

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  Published in Business and Finance on Friday, January 9th 2009 at 12:06 GMT, Last Modified on 2009-01-09 12:07:40 by Market Wire
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BOSTON--([ BUSINESS WIRE ])--Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE: ETY), a diversified closed-end investment company, today announced the earnings of the Fund for the three months ended October 31, 2008 and for the year ended October 31, 2008. The Fund's fiscal year ended on October 31, 2008.

For the three months ended October 31, 2008, the Fund had net investment income of $4,727,173 ($0.032 per common share). For the year ended October 31, 2008, the Fund had net investment income of $39,955,338 ($0.267 per common share). In comparison, for the three months ended October 31, 2007, the Fund had net investment income of $27,908,315 ($0.184 per common share). For the period from the start of business, November 30, 2006, to October 31, 2007, the Fund had net investment income of $194,432,340 ($1.314 per common share).

Net realized and unrealized losses for the three months ended October 31, 2008 were $496,559,810 ($3.325 per common share) and net realized and unrealized losses for the year ended October 31, 2008 were $758,916,901 ($5.077 per common share). In comparison, net realized and unrealized gains for the three months ended October 31, 2007 were $83,601,399 ($0.566 per common share) and net realized and unrealized gains for the period from the start of business, November 30, 2006, to October 31, 2007, were $87,686,025 ($0.583 per common share).

On October 31, 2008, net assets of the Fund were $1,937,782,955. The net asset value per share on October 31, 2008 was $12.94 based on 149,711,079 shares outstanding. In comparison, on October 31, 2007, net assets applicable to common shares of the Fund were $2,933,710,014. The net asset value per common share on October 31, 2007 was $19.60 based on 149,711,079 common shares outstanding.

The Fund is managed by Eaton Vance Management. Eaton Vance and its affiliates had $123.1 billion in assets under management as of October 31, 2008. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance Marketing at (800) 262-1122.