EVT Eaton Vance Tax Advantaged Dividend Income Fund

Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE: EVT), a closed-end management investment company, today announced the earnings of the Fund for the three months ended November 30, 2005. The Fund's fiscal year ends on August 31, 2006. For the three months ended November 30, 2005, the Fund had net investment income of $26,917,326 ($0.370 per common share). From this amount, the Fund paid dividends on preferred shares of $6,294,614 (equal to $0.086 for each common share), resulting in net investment income after the preferred dividends of $20,622,712 or $0.284 per common share. In comparison, for the three months ended November 30, 2004, the Fund had net investment income of $26,179,142 ($0.359 per common share). From this amount, the Fund paid dividends on preferred shares of $3,007,101 (equal to $0.041 for each common share), resulting in net investment income after the preferred dividends of $23,172,041 or $0.318 per common share. Net realized and unrealized losses for the three months ended November 30, 2005 were $25,767,467 ($.354 per common share) In comparison, net realized and unrealized gains for the three months ended November 30, 2004 were $131,336,940 ($1.803 per common share). On November 30, 2005, net assets applicable to common shares of the Fund were $1,779,073,217. The net asset value per common share on November 30, 2005 was $24.43 based on 72,835,900 common shares outstanding. In comparison, on November 30, 2004, net assets of the Fund were $1,669,993,375. The net asset value per common share on November 30, 2004 was $22.93 based on 72,835,900 common shares outstanding. 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 approximately $112 billion in assets under management as of December 31, 2005. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance Marketing at (617) 482-8260. -0- *T EATON VANCE TAX-ADVANTAGED DIVIDEND INCOME FUND SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per share amounts) Three Months Three Months Ended Ended November 30, November 30, ------------- ------------ 2005 2004 ------------- ------------ Gross investment income $31,535 $30,594 Operating expenses 4,618 4,415 ------------- ------------ Net investment income $26,917 $26,179 Net realized and unrealized gains (losses) on investments ($25,767) $131,337 Preferred dividends paid (6,295) (3,007) ------------- ------------ Net increase (decrease) in net assets from operations ($5,145) $154,509 ============= ============ Earnings per Common Share Outstanding ------------------------------------------ Gross investment income $0.433 $0.420 Operating expenses 0.063 0.061 ------------- ------------ Net investment income $0.370 $0.359 Net realized and unrealized gains (losses) on investments ($0.354) $1.803 Preferred dividends paid (0.086) (0.041) ------------- ------------ Net increase (decrease) in net assets from operations $0.070 $2.121 ============= ============ Net investment income $0.370 $0.359 Preferred dividends paid (0.086) (0.041) ------------- ------------ Net investment income after preferred dividends $0.284 $0.318 ============= ============ Net Asset Value at November 30 (Common Shares) ------------------------------------------- Net assets (000) $1,779,073 $1,669,993 Shares outstanding (000) 72,836 72,836 Net asset value per share outstanding $24.43 $22.93 Market Value Summary (Common Shares) ------------------------------------------ Market price on NYSE at November 30 $21.89 $20.49 High market price (three months ended November 30) $22.35 $20.63 Low market price (three months ended November 30) $20.56 $19.20 *T