KCBD, NewsChannel 11 Lubbock |Eaton Vance Floating-Rate Income Trust Report of Earnings

BOSTON, Oct. 30 /PRNewswire-FirstCall/ -- Eaton Vance Floating-Rate Income Trust (NYSE: EFT) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three months ended August 31, 2009. The Trust's fiscal year ends on May 31, 2010.

For the three months ended August 31, 2009, the Trust had net investment income of $9,281,808 ($0.248 per common share). From this amount, the Trust paid dividends on preferred shares of $569,173 (equal to $0.015 for each common share), resulting in net investment income after preferred dividends of $8,712,635 or $0.233 per common share. In comparison, for the three months ended August 31, 2008, the Trust had net investment income of $12,250,856 ($0.328 per common share). From this amount, the Trust paid dividends on preferred shares of $1,333,844 (equal to $0.036 for each common share), resulting in net investment income after the preferred dividends of $10,917,012 or $0.292 per common share.

Net realized and unrealized gains for the three months ended August 31, 2009 were $69,370,279 ($1.856 per common share). In comparison, net realized and unrealized losses for the three months ended August 31, 2008 were $22,947,923 ($0.614 per common share).

On August 31, 2009, net assets of the Trust applicable to common shares were $496,639,286. The net asset value per common share on August 31, 2009 was $13.29 based on 37,378,350 common shares outstanding. In comparison, on August 31, 2008, net assets of the Trust applicable to common shares were $585,436,931. The net asset value per common share on August 31, 2008 was $15.67 based on 37,356,040 common shares outstanding.

The Trust 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.

                    EATON VANCE FLOATING-RATE INCOME TRUST
                       SUMMARY OF RESULTS OF OPERATIONS
                   (in thousands, except per share amounts)

                                       Three Months Ended  Three Months Ended
                                           August 31,          August 31,
                                           ----------          ----------
                                              2009                2008
                                              ----                ----
    Gross investment income                  $11,140             $16,834
    Interest expense                            (480)             (2,864)
    Operating expenses                        (1,378)             (1,719)
                                              ------              ------
      Net investment income                   $9,282             $12,251
    Net realized and unrealized gains
     (losses) on investments                 $69,370            ($22,948)
    Preferred dividends paid from
     net investment income                     ($569)            ($1,334)
                                               -----             -------
      Net increase (decrease) in net
       assets from operations                $78,083            ($12,031)
                                             =======            ========

    Earnings per Common Share Outstanding
    -------------------------------------
    Gross investment income                   $0.298              $0.451
    Interest expense                          (0.013)             (0.077)
    Operating expenses                        (0.037)             (0.046)
                                              ------              ------
      Net investment income                   $0.248              $0.328
    Net realized and unrealized gains
     (losses) on investments                  $1.856             ($0.614)
    Preferred dividends paid from
     net investment income                    (0.015)             (0.036)
                                              ------              ------
      Net increase (decrease) in net
       assets from operations                 $2.089             ($0.322)
                                              ======             =======

    Net investment income                     $0.248              $0.328
    Preferred dividends paid from
     net investment income                    (0.015)             (0.036)
                                              ------              ------
    Net investment income after
     preferred dividends                      $0.233              $0.292
                                              ======              ======

    Net Asset Value at August 31
     (Common Share)
    ----------------------------
      Net assets (000)                      $496,639            $585,437
      Shares outstanding (000)                37,378              37,356
      Net asset value per
       share outstanding                      $13.29              $15.67

    Market Value Summary
     (Common Share)
    --------------------
      Market price on NYSE
       at August 31                           $11.79              $13.65
      High market price (three
       months ended August 31)                $12.18              $15.27
      Low market price (three
       months ended August 31)                $10.24              $13.44

SOURCE Eaton Vance Management