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 month period and year ended August 31, 2006. The Fund�s fiscal year ended on August 31, 2006. For the three months ended August 31, 2006, the Fund had net investment income of $23,243,398 ($0.319 per common share). From this amount, the Fund paid dividends on preferred shares of $7,916,433 (equal to $0.109 for each common share), resulting in net investment income after the preferred dividends of $15,326,965 or $0.210 per common share. For the year ended August 31, 2006, the Fund had net investment income of $154,260,675 ($2.118 per common share). From this amount, the Fund paid dividends on preferred shares of $28,675,922 (equal to $0.394 for each common share), resulting in net investment income after the preferred dividends of $125,584,753 or $1.724 per common share. In comparison, for the three months ended August 31, 2005, the Fund had net investment income of $40,888,098 ($0.561 per common share). From this amount, the Fund paid dividends on preferred shares of $5,543,621 (equal to $0.076 for each common share), resulting in net investment income after the preferred dividends of $35,344,477 or $0.485 per common share. For the year ended August 31, 2005, the Fund had net investment income of $128,005,780 ($1.757 per common share). From this amount, the Fund paid dividends on preferred shares of $17,381,704 (equal to $0.239 for each common share), resulting in net investment income after the preferred dividends of $110,624,076 or $1.518 per common share. Net realized and unrealized gains for the three months ended August 31, 2006 were $73,811,062 ($1.014 per common share) and net realized and unrealized gains for the year ended August 31, 2006 were $137,582,112 ($1.890 per common share). In comparison, net realized and unrealized gains for the three months ended August 31, 2005 were $92,119,302 ($1.265 per common share) and net realized and unrealized gains for the year ended August 31, 2005 were $258,727,652 ($3.552 per common share). On August 31, 2006, net assets applicable to common shares of the Fund were $1,960,095,672. The net asset value per common share on August 31, 2006 was $26.91 based on 72,835,900 common shares outstanding. In comparison, on August 31, 2005, net assets of the Fund were $1,810,822,305. The net asset value per common share on August 31, 2005 was $24.86 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 $124.1 billion in assets under management as of September 30, 2006. 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-ADVANTAGED DIVIDEND INCOME FUND SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per share amounts) � Three Months Ended Year Ended August 31, August 31, 2006� 2005� 2006� 2005� Gross investment income $28,344� $45,663� $173,620� $146,313� Operating expenses 5,101� 4,774� 19,359� 18,307� Net investment income $23,243� $40,889� $154,261� $128,006� Net realized and unrealized gains (losses) on investments $73,811� $92,120� $137,582� $258,728� Preferred dividends paid ($7,916) ($5,544) ($28,676) ($17,382) Net increase (decrease) in net assets from operations $89,138� $127,465� $263,167� $369,352� � Earnings per Common Share Outstanding Gross investment income $0.389� $0.627� $2.384� $2.008� Operating expenses 0.070� 0.066� $0.266� 0.251� Net investment income $0.319� $0.561� $2.118� $1.757� Net realized and unrealized gains (losses) on investments $1.014� $1.265� $1.890� $3.552� Preferred dividends paid (0.109) (0.076) ($0.394) (0.239) Net increase (decrease) in net assets from operations $1.225� $1.750� $3.614� $5.070� � Net investment income $0.319� $0.561� $2.118� $1.757� Preferred dividends paid (0.109) (0.076) (0.394) (0.239) Net investment income after preferred dividends $0.210� $0.485� $1.724� $1.518� � � Net Asset Value at August 31(Common Shares) Net assets (000) $1,960,096� $1,810,822� Shares outstanding (000) 72,836� 72,836� Net asset value per share outstanding $26.91� $24.86� � Market Value Summary (Common Shares) Market price on NYSE at August 31 $25.55� $21.69� High market price (year ended August 31) $25.62� $22.41� Low market price (year ended August 31) $20.56� $19.20� � 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 month period and year ended August 31, 2006. The Fund's fiscal year ended on August 31, 2006. For the three months ended August 31, 2006, the Fund had net investment income of $23,243,398 ($0.319 per common share). From this amount, the Fund paid dividends on preferred shares of $7,916,433 (equal to $0.109 for each common share), resulting in net investment income after the preferred dividends of $15,326,965 or $0.210 per common share. For the year ended August 31, 2006, the Fund had net investment income of $154,260,675 ($2.118 per common share). From this amount, the Fund paid dividends on preferred shares of $28,675,922 (equal to $0.394 for each common share), resulting in net investment income after the preferred dividends of $125,584,753 or $1.724 per common share. In comparison, for the three months ended August 31, 2005, the Fund had net investment income of $40,888,098 ($0.561 per common share). From this amount, the Fund paid dividends on preferred shares of $5,543,621 (equal to $0.076 for each common share), resulting in net investment income after the preferred dividends of $35,344,477 or $0.485 per common share. For the year ended August 31, 2005, the Fund had net investment income of $128,005,780 ($1.757 per common share). From this amount, the Fund paid dividends on preferred shares of $17,381,704 (equal to $0.239 for each common share), resulting in net investment income after the preferred dividends of $110,624,076 or $1.518 per common share. Net realized and unrealized gains for the three months ended August 31, 2006 were $73,811,062 ($1.014 per common share) and net realized and unrealized gains for the year ended August 31, 2006 were $137,582,112 ($1.890 per common share). In comparison, net realized and unrealized gains for the three months ended August 31, 2005 were $92,119,302 ($1.265 per common share) and net realized and unrealized gains for the year ended August 31, 2005 were $258,727,652 ($3.552 per common share). On August 31, 2006, net assets applicable to common shares of the Fund were $1,960,095,672. The net asset value per common share on August 31, 2006 was $26.91 based on 72,835,900 common shares outstanding. In comparison, on August 31, 2005, net assets of the Fund were $1,810,822,305. The net asset value per common share on August 31, 2005 was $24.86 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 $124.1 billion in assets under management as of September 30, 2006. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance Marketing at (800) 262-1122. -0- *T EATON VANCE TAX-ADVANTAGED DIVIDEND INCOME FUND SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended Year Ended August 31, August 31, ---------------------------------------- 2006 2005 2006 2005 ---------------------------------------- Gross investment income $28,344 $45,663 $173,620 $146,313 Operating expenses 5,101 4,774 19,359 18,307 ---------------------------------------- Net investment income $23,243 $40,889 $154,261 $128,006 Net realized and unrealized gains (losses) on investments $73,811 $92,120 $137,582 $258,728 Preferred dividends paid ($7,916) ($5,544) ($28,676) ($17,382) ---------------------------------------- Net increase (decrease) in net assets from operations $89,138 $127,465 $263,167 $369,352 ======================================== Earnings per Common Share Outstanding --------------------------------------- Gross investment income $0.389 $0.627 $2.384 $2.008 Operating expenses 0.070 0.066 $0.266 0.251 ---------------------------------------- Net investment income $0.319 $0.561 $2.118 $1.757 Net realized and unrealized gains (losses) on investments $1.014 $1.265 $1.890 $3.552 Preferred dividends paid (0.109) (0.076) ($0.394) (0.239) ---------------------------------------- Net increase (decrease) in net assets from operations $1.225 $1.750 $3.614 $5.070 ======================================== Net investment income $0.319 $0.561 $2.118 $1.757 Preferred dividends paid (0.109) (0.076) (0.394) (0.239) ---------------------------------------- Net investment income after preferred dividends $0.210 $0.485 $1.724 $1.518 ======================================== Net Asset Value at August 31(Common Shares) --------------------------------------- Net assets (000) $1,960,096 $1,810,822 Shares outstanding (000) 72,836 72,836 Net asset value per share outstanding $26.91 $24.86 Market Value Summary (Common Shares) --------------------------------------- Market price on NYSE at August 31 $25.55 $21.69 High market price (year ended August 31) $25.62 $22.41 Low market price (year ended August 31) $20.56 $19.20 *T