EFT Eaton Vance Floating Rate Income Trust

Eaton Vance Floating-Rate Income Trust (NYSE: EFT) (the ๏ฟฝTrust๏ฟฝ), a closed-end management investment company, today announced the earnings of the Trust for the three months ended August 31, 2008. The Trust๏ฟฝs fiscal year ends on May 31, 2009. 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 preferred dividends of $10,917,012 or $0.292 per common share. In comparison, for the three months ended August 31, 2007, the Trust had net investment income of $20,301,145 ($0.544 per common share). From this amount, the Trust paid dividends on preferred shares of $5,708,067 (equal to $0.153 for each common share), resulting in net investment income after preferred dividends of $14,593,078 or $0.391 per common share. Net realized and unrealized losses for the three months ended August 31, 2008 were $22,947,923 ($0.614 per common share). In comparison, net realized and unrealized losses for the three months ended August 31, 2007 were $50,308,911 ($1.347 per common share). 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. On August 31, 2007, net assets of the Trust applicable to common shares were $658,686,812. The net asset value per common share on August 31, 2007 was $17.63 based on 37,356,040 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 $144.0 billion in assets under management on September 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) ๏ฟฝ ๏ฟฝ Three Months Ended ๏ฟฝ Three Months Ended August 31, August 31, 2008 2007 Gross investment income $16,834 $22,257 Operating expenses (4,583 ) (1,956 ) Net investment income $12,251 $20,301 Net realized and unrealized gains (losses)on investments ($22,948 ) ($50,309 ) Preferred dividends paid ($1,334 ) ($5,708 ) Net increase (decrease) in net assets from operations ($12,031 ) ($35,716 ) ๏ฟฝ Earnings per Common Share Outstanding Gross investment income $0.451 $0.596 Operating expenses (0.123 ) (0.052 ) Net investment income $0.328 $0.544 Net realized and unrealized gains (losses) on investments ($0.614 ) ($1.347 ) Preferred dividends paid (0.036 ) (0.153 ) Net increase (decrease) in net assets from operations ($0.322 ) ($0.956 ) ๏ฟฝ Net investment income $0.328 $0.544 Preferred dividends paid (0.036 ) (0.153 ) Net investment income after preferred dividends $0.292 ๏ฟฝ $0.391 ๏ฟฝ ๏ฟฝ Net Asset Value at August 31 (Common Shares) Net assets (000) $585,437 $658,687 Shares outstanding (000) 37,356 37,356 Net asset value per share outstanding $15.67 $17.63 ๏ฟฝ Market Value Summary (Common Shares) Market price on NYSE at August 31 $13.65 $16.71 High market price period ended August 31 $15.27 $19.51 Low market price period ended August 31 $13.44 $15.72