EFT Eaton Vance Floating Rate Income Trust

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 and year ended May 31, 2008. The Trust�s fiscal year ended on May 31, 2008. For the three months ended May 31, 2008, the Trust had net investment income of $14,965,801 ($0.401 per common share). From this amount, the Trust paid dividends on preferred shares of $3,913,789 (equal to $0.104 for each common share), resulting in net investment income after preferred dividends of $11,052,012 or $0.297 per common share. For the year ended May 31, 2008, the Trust had net investment income of $74,779,522 ($2.002 per common share). From this amount, the Trust paid dividends on preferred shares of $21,490,060 (equal to $0.575 per common share), resulting in net investment income after preferred dividends of $53,289,462, or $1.427 per common share. In comparison, for the three months ended May 31, 2007, the Trust had net investment income of $20,193,562 ($0.541 per common share). From this amount, the Trust paid dividends on preferred shares of $5,731,384 (equal to $0.154 for each common share), resulting in net investment income after preferred dividends of $14,462,178 or $0.387 per common share. For the year ended May 31, 2007, the Trust had net investment income of $81,072,647 ($2.174 per common share). From this amount, the Trust paid dividends on preferred shares of $22,401,971 (equal to $0.601 per common share), resulting in net investment income after preferred dividends of $58,670,676, or $1.573 per common share. Net realized and unrealized gains for the three months ended May 31, 2008 were $32,770,021 ($0.874 per common share). The Trust�s net realized and unrealized losses for the year ended May 31, 2008 were $100,779,258 ($2.701 per common share). In comparison, net realized and unrealized losses for the three months ended May 31, 2007 were $396,219 ($0.011 per common share). The Trust�s net realized and unrealized gains for the year ended May 31, 2007 were $4,364,175 ($0.114 per common share). On May 31, 2008, net assets of the Trust applicable to common shares were $608,309,708. The net asset value per common share on May 31, 2008 was $16.28 based on 37,356,040 common shares outstanding. On May 31, 2007, net assets of the Trust applicable to common shares were $708,774,935. The net asset value per common share on May 31, 2007 was $18.98 based on 37,340,553 common shares outstanding. The Trust 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 $159.1 billion in assets under management on April 30, 2008. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance Management at (800) 262-1122. EATON VANCE FLOATING-RATE INCOME TRUST SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per share amounts) � � � � � Three Months Ended Year Ended May 31, May 31, � 2008 � � 2007 � � 2008 � � 2007 � Gross investment income $ 17,522 $ 22,107 $ 83,259 $ 89,110 Operating expenses � (2,556 ) � (1,914 ) � (8,479 ) � (8,037 ) Net investment income $ 14,966 $ 20,193 $ 74,780 $ 81,073 � Net realized and unrealized gains (losses) on investments $ 32,770 ($396 ) ($100,780 ) $ 4,364 Preferred dividends paid ($3,914 ) ($5,731 ) ($21,490 ) ($22,402 ) Net increase (decrease) in net assets from operations $ 43,822 � $ 14,066 � � ($47,490 ) $ 63,035 � � Earnings per Share Outstanding Gross investment income $ 0.469 $ 0.592 $ 2.229 $ 2.389 Operating expenses � (0.068 ) � (0.051 ) � (0.227 ) � (0.215 ) Net investment income $ 0.401 $ 0.541 $ 2.002 $ 2.174 Net realized and unrealized gains (losses) on investments $ 0.874 ($0.011 ) ($2.701 ) $ 0.114 Preferred dividends paid � ($0.104 ) � ($0.154 ) � ($0.575 ) � ($0.601 ) Net increase (decrease) in net assets from operations $ 1.171 � $ 0.376 � � ($1.274 ) $ 1.687 � � Net investment income $ 0.401 $ 0.541 $ 2.002 $ 2.174 Preferred dividends paid � (0.104 ) � (0.154 ) � (0.575 ) � (0.601 ) Net investment income after preferred dividends $ 0.297 � $ 0.387 � $ 1.427 � $ 1.573 � � Net Asset Value at May 31 (Common Shares ) � � Net assets (000) $ 608,310 $ 708,775 Shares outstanding (000) 37,356 37,341 Net asset value per share outstanding $ 16.28 $ 18.98 � Market Value Summary (Common Shares ) � � Market price on NYSE at May 31 $ 15.13 $ 19.48 High market price (year ended May 31) $ 19.51 $ 19.56 Low market price (year ended May 31) $ 13.49 $ 17.81