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

BOSTON--([ BUSINESS WIRE ])--Eaton Vance Tax-Managed Global Diversified Equity Income Fund (NYSE: EXG), 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 $12,070,933 ($0.040 per common share). For the year ended October 31, 2008, the Fund had net investment income of $114,115,511 ($0.378 per common share). In comparison, for the three months ended October 31, 2007, the Fund had net investment income of $46,488,113 ($0.154 per common share). For the period from the start of business, February 27, 2007, to October 31, 2007, the Fund had net investment income of $327,861,593 ($1.096 per common share).

Net realized and unrealized losses for the three months ended October 31, 2008 were $1,130,298,099 ($3.738 per common share) and net realized and unrealized losses for the year ended October 31, 2008 were $1,731,813,507 ($5.728 per common share). In comparison, net realized and unrealized gains for the three months ended October 31, 2007 were $344,014,439 ($1.138 per common share) and net realized and unrealized gains for the period from the start of business, February 27, 2007, to October 31, 2007, were $108,162,037 ($0.349 per common share).

On October 31, 2008, net assets of the Fund were $3,729,357,159. The net asset value per share on October 31, 2008 was $12.34 based on 302,284,868 shares outstanding. In comparison, on October 31, 2007, net assets applicable to common shares of the Fund were $5,921,396,404. The net asset value per common share on October 31, 2007 was $19.59 based on 302,284,868 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.

EATON VANCE TAX-MANAGED GLOBAL DIVERSIFIED EQUITY INCOME FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)

		Three Months Ended		Year Ended	Period Ended
		October 31,		October 31,	October 31,
		2008	2007	2008	2007 *
Gross investment income		$23,523	$61,291	$168,954	$368,051
Operating expenses		(11,452)	(14,803)	(54,838)	(40,189)
	Net investment income	$12,071	$46,488	$114,116	$327,862
Net realized and unrealized gains (losses) on investments		($1,130,299)	$344,014	($1,731,814)	$108,162
	Net increase (decrease) in net assets from operations	($1,118,228)	$390,502	($1,617,698)	$436,024

Earnings per Common Share Outstanding
Gross investment income		$0.078	$0.202	$0.559	$1.230
Operating expenses		(0.038)	(0.048)	(0.181)	(0.134)
	Net investment income	$0.040	$0.154	$0.378	$1.096
Net realized and unrealized gains (losses) on investments		($3.738)	$1.138	($5.728)	$0.349
	Net increase (decrease) in net assets from operations	($3.698)	$1.292	($5.350)	$1.445


Net Asset Value at October 31 (Common Shares)
	Net assets (000)			$3,729,357	$5,921,396
	Shares outstanding (000)			302,285	302,285
	Net asset value per share outstanding			$12.34	$19.59

Market Value Summary (Common Shares)
	Market price on NYSE at October 31			$10.45	$17.33
	High market price (period ended October 31)			$17.55	$20.60
	Low market price (period ended October 31)			$8.15	$16.57


* For the period from the start of business, February 27, 2007, to October 31, 2007.

Contributing Sources

Market Wire

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