Eaton Vance Tax-Managed Buy-Write Income Fund Declares Quarterly Distribution.

BOSTON -- Eaton Vance Tax-Managed Buy-Write Income Fund (NYSE: ETB) (the "Fund"), a closed-end management investment company, today declared a quarterly distribution of $0.45 per share. The record date for the distribution is January 24, 2007, and the payable date is January 31, 2007. The ex date is January 22, 2007

The amount of quarterly distributions may vary depending on a number of factors. As portfolio and market conditions change, the rate of distributions may change. The Fund seeks to provide current income and gains, with a secondary objective of capital appreciation. In pursuing its investment objectives, the Fund evaluates return on an after-tax basis, seeking to minimize and defer shareholder federal income taxes. At this time, the Fund believes that a portion of the distribution may be a return of capital. Further information will be available prior to the payment date at www.eatonvance.com/closed_end/tax_info.php . 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 is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp., which is listed on the New York Stock Exchange under the symbol EV. Eaton Vance and its affiliates had $128.9 billion in assets under management on October 31, 2006. Eaton Vance will make available periodic summary information regarding the Funds' portfolio investments. Those interested should call Eaton Vance Management at 800-262-1122.