EATON VANCE RISK-MANAGED DIVERSIFIED EQUITY INCOME FUND 
By BOSTON, July 31, 2013 /PRNewswire/ -- Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ), today announced important information concerning its distribution declared in July 2013. This press release is issued as required by the Fund's managed distribution plan (Plan) and an exemptive order received from the U.S. Securities and Exchange Commission. The Board of Trustees has approved the implementation of the Plan to make monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. This information is sent to you for informational purposes only and is an estimate of the sources of the July distribution. It is not determinative of the tax character of the Fund's distributions for the 2013 calendar year. Shareholders should note that the Fund's total regular distribution amount is subject to change as a result of market conditions or other factors.
The amounts and sources of distributions reported in this notice are estimates, are not being provided for tax reporting purposes and the distribution may later be determined to be from other sources including realized short-term gains, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Distribution Period: July 2013
Distribution Amount per Common Share: $0.0930
The following table sets forth an estimate of the sources of the Fund's July distribution and its cumulative distributions paid this fiscal year to date. Amounts are expressed on a per common share basis and as a percentage of the distribution amount.
Eaton Vance Risk-Managed Diversified Equity Income Fund
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Source Current % of Current Cumulative % of the Cumulative
Distribution Distribution Distributions for the Distributions for the Fiscal
Fiscal Year-to-Date(1) Year-to-Date(1)
--- --- -------------- ---------------
Net Investment Income $0.0101 10.8% $0.0635 9.8%
--------------------- ------- ---- ------- ---
Net Realized Short-Term $0.0000 0.0% $0.0000 0.0%
Capital Gains
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Net Realized Long-Term $0.0000 0.0% $0.0000 0.0%
Capital Gains
-------------
Return of Capital or Other $0.0829 89.2% $0.5875 90.2%
Capital Source(s)
----------------
Total per common share $0.0930 100.0% $0.6510 100.0%
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(1) The Fund's fiscal year is January 1, 2013 to December 31, 2013
IMPORTANT DISCLOSURE: You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Plan. The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income.' The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and/or tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Set forth in the table below is information relating to the Fund's performance based on its net asset value (NAV) for certain periods.
Average annual total
return at NAV for the
5-year period ended on
June 30, 2013(1) 2.46%
----------------------- ----
Annualized current
distribution rate
expressed as a
percentage of NAV as
of June 30, 2013(2) 9.26%
--------------------- ----
Cumulative total return
at NAV for the fiscal
year through June 30,
2013(3) 5.95%
----------------------- ----
Cumulative fiscal year
to date distribution
rate as a percentage
of NAV as of June 30,
20134 4.63%
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(1) Average annual total return at NAV
represents the simple arithmetic
average of the annual NAV total
returns of
the Fund for the 5-year period ended
on June 30, 2013.
(2) The annualized current
distribution rate is the cumulative
distribution rate annualized as a
percentage of the
Fund's NAV as of June 30, 2013.
(3) Cumulative total return at NAV is
the percentage change in the Fund's
NAV for the period from the beginning
of
its fiscal year to June 30, 2013
including distributions paid and
assuming reinvestment of those
distributions.
4 Cumulative fiscal year distribution
rate for the period from the
beginning of its fiscal year to June
30, 2013
measured on the dollar value of
distributions in the year-to-date
period as a percentage of the Fund's
NAV as of
June 30, 2013.
SOURCE Eaton Vance Management
