BOSTON, March 9 /PRNewswire-FirstCall/ -- Eaton Vance Tax-Managed Buy-Write Opportunities Fund (NYSE: ETV), a diversified closed-end investment company, today announced the earnings of the Fund for the three months ended December 31, 2008 and for the year ended December 31, 2008. The Fund's fiscal year ended on December 31, 2008.

For the three months ended December 31, 2008, the Fund had net investment income of $2,866,671 ($0.045 per common share). For the year ended December 31, 2008, the Fund had net investment income of $7,912,412 ($0.125 per common share). In comparison, for the three months ended December 31, 2007, the Fund had net investment income of $1,725,739 ($0.027 per common share). For the year ended December 31, 2007, the Fund had net investment income of $6,400,100 ($0.101 per common share).

Net realized and unrealized losses for the three months ended December 31, 2008 were $149,249,406 ($2.360 per common share) and net realized and unrealized losses for the year ended December 31, 2008 were $332,760,279 ($5.265 per common share). In comparison, net realized and unrealized gains for the three months ended December 31, 2007 were $15,095,064 ($0.239 per common share) and net realized and unrealized gains for the year ended December 31, 2007 were $104,786,253 ($1.659 per common share).

On December 31, 2008, net assets of the Fund were $761,330,042. The net asset value per share on December 31, 2008 was $12.05 based on 63,173,419 shares outstanding. In comparison, on December 31, 2007, net assets applicable to common shares of the Fund were $1,206,207,405. The net asset value per common share on December 31, 2007 was $19.09 based on 63,173,419 common shares outstanding.

The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp.