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Eaton Vance Tax-Managed Buy-Write Opportunities Fund Report Of Earnings

BOSTON, Feb. 26 /PRNewswire-FirstCall/ -- Eaton Vance Tax-Managed Buy-Write Opportunities Fund (NYSE: ETV), a diversified closed-end investment company, today announced the earnings of the Fund for the three months ended December 31, 2009 and the year ended December 31, 2009.  The Fund's fiscal year ended on December 31, 2009.

For the three months ended December 31, 2009, the Fund had net investment income of $1,528,721 ( $0.025 per common share). For the year ended December 31, 2009, the Fund had net investment income of $7,180,561 ( $0.114 per common share).  In comparison, for the three months ended December 31, 2008, the Fund had net investment income of $2,866,671 ( $0.045 per common share).  For the year ended December 31, 2008, the Fund had net investment income of $7,912,412 ( $0.125 per common share).  

Net realized and unrealized gains for the three months ended December 31, 2009 were $79,192,763 ( $1.252 per common share) and net realized and unrealized gains for the year ended December 31, 2009 were $268,392,815 ( $4.246 per common share). In comparison, net realized and unrealized losses for the three months ended December 31, 2008 were $149,249,406 ( $2.360 per common share) and net realized and unrealized losses for the year ended December 31, 2008 were $332,760,279 ( $5.265 per common share).

On December 31, 2009, net assets of the Fund were $921,312,195.  The net asset value per common share on December 31, 2009 was $14.51 based on 63,506,181 common shares outstanding.  In comparison, on December 31, 2008, net assets of the Fund were $761,330,042.  The net asset value per common share on December 31, 2008 was $12.05 based on 63,173,419 common shares outstanding.

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 $161.6 billion in assets as of January 31, 2010, offering individuals and institutions a broad array of investment products 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 TAX MANAGED BUY-WRITE OPPORTUNITIES FUND         
                         SUMMARY OF RESULTS OF OPERATIONS                   
                     (in thousands, except per share amounts)               
                                                                            
                                    Three Months Ended         Year Ended   
                                       December 31,           December 31,   
                                       ------------           -------------  
                                     2009        2008       2009        2008 
                                     ----        ----       ----        ---- 
    Gross investment income        $4,036      $5,016    $16,110     $18,726 
    Operating expenses            ($2,508)    ($2,149)   ($8,930)   ($10,814)
                                  -------     -------    -------    -------- 
      Net investment income        $1,528      $2,867     $7,180      $7,912 
    Net realized and unrealized
     gains (losses)
     on investments               $79,193   ($149,249)  $268,393   ($332,760)
                                  -------   ---------   --------   --------- 
      Net increase (decrease)                                                
       in net assets                                                         
       from operations            $80,721   ($146,382)  $275,573   ($324,848)
                                  =======   =========   ========   ========= 
                                                                             
    Earnings per Share Outstanding                                           
    ------------------------------                                           
    Gross investment income        $0.064      $0.079     $0.255      $0.296 
    Operating expenses            ($0.039)    ($0.034)   ($0.141)    ($0.171)
                                  -------     -------    -------     ------- 
      Net investment income        $0.025      $0.045     $0.114      $0.125 
    Net realized and unrealized
     gains (losses) 
     on investments                $1.252     ($2.360)    $4.246     ($5.265)
                                   ------     -------     ------     ------- 
      Net increase (decrease) 
       in net assets                                     
       from operations             $1.277     ($2.315)    $4.360     ($5.140)
                                   ======     =======     ======     ======= 
                           
                           
    Net Asset Value at December 31
     (Common Shares)             
    ------------------------------                              
      Net assets                                        $921,312    $761,330 
      Shares outstanding                                  63,506      63,173 
      Net asset value per share outstanding               $14.51      $12.05 
                                                                   
    Market Value Summary (Common Shares )                          
    -------------------------------------                          
      Market price on NYSE at December 31                 $15.05      $10.20 
      High market price (period ended                               
       December 31)                                       $15.73      $17.69 
      Low market price (period ended                                 
       December 31)                                        $8.62       $8.35 
    

SOURCE Eaton Vance Management

Copyright 2009 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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