Eaton Vance Enhanced Equity Income Fund Report of Earnings

BOSTON, Sept. 9, 2011 /PRNewswire/ -- Eaton Vance Enhanced Equity Income Fund (NYSE: EOI), a diversified closed-end investment company, today announced the earnings of the Fund for the three and nine-month periods ended June 30, 2011. The Fund's fiscal year ends on September 30, 2011.

For the three months ended June 30, 2011, the Fund had net investment income of $739,228 ($0.018 per common share). For the nine months ended June 30, 2011, the Fund had net investment income of $2,017,823 ($0.050 per common share). In comparison, for the three months ended June 30, 2010, the Fund had net investment income of $913,327 ($0.022 per common share). For the nine months ended June 30, 2010, the Fund had net investment income of $2,729,733 ($0.068 per common share).

Net realized and unrealized losses for the three months ended June 30, 2011 were $2,345,202 ($0.053 per common share) and net realized and unrealized gains for the nine months ended June 30, 2011 were $50,935,346 ($1.275 per common share). In comparison, net realized and unrealized losses for the three months ended June 30, 2010 were $57,382,328 ($1.441 per common share) and net realized and unrealized losses for the nine months ended June 30, 2010 were $5,855,861 ($0.147 per common share).

On June 30, 2011, net assets of the Fund were $532,341,676. The net asset value per common share on June 30, 2011 was $13.32 based on 39,970,049 common shares outstanding. In comparison, on June 30, 2010, net assets of the Fund were $489,459,239. The net asset value per common share on June 30, 2010 was $12.27 based on 39,891,989 common shares outstanding.

The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors – Closed-End Funds"). Fund portfolio holdings for the most recent calendar quarter-end are also posted to the website approximately 30 days following quarter-end.

The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $199.0 billion in assets as of July 31, 2011, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit www.eatonvance.com.

EATON VANCE ENHANCED EQUITY INCOME FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)

		Three Months Ended		Nine Months Ended
		June 30,		June 30,
		2011	2010	2011	2010
Gross investment income		$ 2,270	$ 2,451	$ 6,598	$ 7,292
Operating expenses		(1,531)	(1,538)	(4,580)	(4,563)
	Net investment income	$ 739	$ 913	$ 2,018	$ 2,729
Net realized and unrealized gains (losses)
on investments		$ (2,346)	$ (57,382)	$ 50,935	$ (5,856)
	Net increase (decrease) in net assets
	from operations	$ (1,607)	$ (56,469)	$ 52,953	$ (3,127)

Earnings per Common Share Outstanding
Gross investment income		$ 0.057	$ 0.061	$ 0.165	$ 0.183
Operating expenses		(0.039)	(0.039)	(0.115)	(0.115)
	Net investment income	$ 0.018	$ 0.022	$ 0.050	$ 0.068
Net realized and unrealized gains (losses)
on investments		$ (0.053)	$ (1.441)	$ 1.275	$ (0.147)
	Net increase (decrease) in net assets
	from operations	$ (0.035)	$ (1.419)	$ 1.325	$ (0.079)


Net Asset Value at June 30 (Common Shares)
	Net assets			$ 532,342	$ 489,459
	Shares outstanding			39,970	39,892
	Net asset value per share outstanding			$ 13.32	$ 12.27

Market Value Summary (Common Shares)
	Market price on NYSE at June 30			$ 12.00	$ 12.68
	High market price (period ended June 30)			$ 13.47	$ 14.75
	Low market price (period ended June 30)			$ 11.55	$ 12.33