Eaton Vance Limited Duration Income Fund Report of Earnings

• Press Release
• Source: Eaton Vance Management
• On 11:04 am EDT, Wednesday October 7, 2009

BOSTON, Oct. 7 /PRNewswire-FirstCall/ -- Eaton Vance Limited Duration Income Fund (NYSE Amex: EVV) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months ended July 31, 2009. The Fund's fiscal year ends on April 30, 2010.

For the three months ended July 31, 2009, the Fund had net investment income of $37,209,015 ($0.331 per common share). From this amount, the Fund paid dividends on preferred shares of $275,875 (equal to $0.002 for each common share), resulting in net investment income after preferred dividends of $36,933,140 or $0.329 per common share. In comparison, for the three months ended July 31, 2008, the Fund had net investment income of $41,769,556 ($0.372 per common share). From this amount, the Fund paid dividends on preferred shares of $2,546,312 (equal to $0.023 for each common share), resulting in net investment income after the preferred dividends of $39,223,244 or $0.349 per common share.

Net realized and unrealized gains for the three months ended July 31, 2009 were $211,098,464 ($1.877 per common share). In comparison, net realized and unrealized losses for the three months ended July 31, 2008 were $49,393,438 ($0.439 per common share).

On July 31, 2009, net assets of the Fund applicable to common shares were $1,668,455,886. The net asset value per common share on July 31, 2009 was $14.84 based on 112,462,747 common shares outstanding. In comparison, on July 31, 2008, net assets of the Fund applicable to common shares were $1,785,738,480. The net asset value per common share on July 31, 2008 was $15.88 based on 112,462,747 common shares outstanding.

The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV - News), 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 $147.7 billion in assets as of August 31, 2009, 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 LIMITED DURATION INCOME FUND
                        SUMMARY OF RESULTS OF OPERATIONS
                    (in thousands, except per share amounts)

                                     Three Months Ended    Three Months Ended
                                          July 31,              July 31,
                                          --------              --------
                                            2009                  2008
                                            ----                  ----
    Gross investment income               $46,949               $50,852
    Interest expense                       (1,283)               (4,474)
    Operating expenses                     (8,457)               (4,609)
                                           ------                ------
      Net investment income               $37,209               $41,769
    Net realized and unrealized gains
     (losses) on investments             $211,098              ($49,393)
    Preferred dividends paid from net
     investment income                      ($276)              ($2,546)
                                            -----               -------
      Net increase (decrease) in net
       assets from operations            $248,031              ($10,170)
                                         ========              ========

    Earnings per Common Share
     Outstanding
    -------------------------
    Gross investment income                $0.417                $0.452
    Interest expense                       (0.011)               (0.040)
    Operating expenses                     (0.075)               (0.040)
                                           ------                ------
      Net investment income                $0.331 (1)            $0.372 (1)
    Net realized and unrealized gains
     (losses) on investments               $1.877               ($0.439)
    Preferred dividends paid from net
     investment income                     (0.002)               (0.023)
                                           ------                ------
      Net increase (decrease) in net
       assets from operations              $2.206               ($0.090)
                                           ======               =======

    Net investment income                  $0.331                $0.372
    Preferred dividends paid from net
     investment income                     (0.002)               (0.023)
                                           ------                ------
    Net investment income after
     preferred dividends                   $0.329                $0.349
                                           ======                ======

    Net Asset Value at July 31
     (Common Share )
    --------------------------
      Net assets (000)                 $1,668,456            $1,785,738
      Shares outstanding (000)            112,463               112,463
      Net asset value
       per share outstanding               $14.84                $15.88

    Market Value Summary
     (Common Share )
    --------------------
      Market price on NYSE Amex
       at July 31                          $13.74                $13.70
      High market price (three
       months ended July 31)               $13.80                $15.46
      Low market price (three
       months ended July 31)               $11.61                $13.27

    (1) For Federal Income Tax purposes, net investment income per share for
        the three months ended July 31, 2009 and July 31, 2008, was $0.345 and
        $0.406, respectively.

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