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Eaton Vance Tax-Advantaged Bond And Option Strategies Fund Declares Quarterly Distribution And Announces Distribution Change

BOSTON, March 14, 2014 /PRNewswire/ -- Eaton Vance Tax-Advantaged Bond and Option Strategies Fund (NYSE: EXD) (the "Fund"), a closed-end management investment company, today declared its quarterly distribution of $0.350 per common share, a decrease of approximately 17.6% from the prior quarter's distribution. The Fund's distribution is being reset to approximately 9% of its current net asset value in order to more closely align the Fund's current distribution yield with its initial distribution yield. The distribution is expected to be paid on March 31, 2014, to shareholders of record on March 24, 2014.  The ex-date is March 20, 2014. 

At this time, the Fund believes that a portion of the March distribution may be comprised of amounts from sources other than net investment income.  If that is the case, you will be notified in writing.  Further information will be available prior to the payment date at   http://funds.eatonvance.com.  The final determination of tax characteristics of the Fund's distributions will occur after the end of the year, at which time it will be reported to shareholders.

The Fund makes distributions in accordance with a managed distribution plan. With each distribution, a Fund issues a notice to shareholders and a press release containing information about the amount and sources of the distribution and other related information.  A Fund's distributions in any period may be more or less than the net return earned by the Fund on its investments, and therefore should not be used as a measure of performance or confused with "yield" or "income." Distributions in excess of Fund returns will cause its net asset value to erode. Investors should not draw any conclusions about a Fund's investment performance from the amount of its distribution or from the terms of its managed distribution plan. A Fund's distribution rate may be affected by numerous factors, including changes in realized and projected market returns, Fund performance and other factors. There can be no assurance that a change in market conditions or other factors will not result in a change in a Fund's distribution rate.  Additional information about the Fund, including performance and portfolio characteristic information, is available at www.eatonvance.com.

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 $278.6 billion in assets as of January 31, 2014, 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.

Shares of closed-end funds often trade at a discount from their net asset value. The market price of Fund shares may vary from net asset value based on factors affecting the supply and demand for shares, such as Fund distribution rates relative to similar investments, investors' expectations for future distribution changes, the clarity of the Fund's investment strategy and future return expectations, and investors' confidence in the underlying markets in which the Fund invests. Fund shares are subject to investment risk, including possible loss of principal invested. No Fund is a complete investment program and you may lose money investing in a Fund. An investment in a Fund may not be appropriate for all investors. Before investing, prospective investors should consider carefully the Fund's investment objective, risks, charges and expenses.

SOURCE Eaton Vance Management

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