Eaton Vance Short Duration Diversified Income Fund Special Meeting of Shareholders

November 4, 2009 4:29 PM EST

BOSTON, Nov. 4 /PRNewswire-FirstCall/ -- At a Special Meeting of Shareholders held Friday, October 23, 2009, shareholders of Eaton Vance Short Duration Diversified Income Fund (NYSE: EVG) (the "Fund"), a closed-end investment company, authorized the Fund to invest in commodities-related investments to the extent permitted by law. To qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, 90% of the Fund's income must be from certain qualified sources. Direct investment in many commodities investments generates income that is not from a qualified source for purposes of meeting this 90% test. Absent a revenue ruling or other guidance from the Internal Revenue Service ("IRS"), the Fund intends to seek a private letter ruling from the IRS that (i) income from commodity-linked notes or (ii) income earned by the Fund from the ownership of one or more offshore subsidiaries that hold commodities or commodities-related investments is income from a qualified source for purposes of the 90% test. The Fund will not invest in commodity-related investments until it obtains such a private letter ruling.

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 $157.0 billion in assets as of September 30, 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.

SOURCE Eaton Vance Management

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