Eaton Vance Tax-Managed Buy-Write Opportunities Fund Report of Earnings as of March...

Eaton Vance Tax-Managed Buy-Write Opportunities Fund Report of Earnings as of March 31, 2008

BOSTON--(Business Wire)--
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 March 31, 2008. The
Fund's fiscal year ends on December 31, 2008.

For the three months ended March 31, 2008, the Fund had net
investment income of $1,584,251 ($0.025 per common share). In
comparison, for the three months ended March 31, 2007, the Fund had
net investment income of $2,172,673 ($0.035 per common share).

Net realized and unrealized losses for the three months ended
March 31, 2008 were $86,518,238 ($1.370 per common share). In
comparison, net realized and unrealized gains for the three months
ended March 31, 2007 were $21,768,684 ($0.346 per common share).

On March 31, 2008, net assets applicable to common shares of the
Fund were $1,091,266,043. The net asset value per common share on
March 31, 2008 was $17.27 based on 63,173,419 common shares
outstanding. In comparison, on March 31, 2007, net assets applicable
to common shares of the Fund were $1,206,678,832. The net asset value
per common share on March 31, 2007 was $19.14 based on 62,939,729
common shares outstanding.

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 approximately $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
Marketing at (800) 262-1122.

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EATON VANCE TAX-MANAGED BUY-WRITE OPPORTUNITIES FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)

Three Months Ended Three Months Ended
March 31, 2008 March 31, 2007
------------------ ------------------

Gross investment income $ 4,549 $ 5,364
Operating expenses ($2,965) ($3,191)
------------------ ------------------
Net investment income
(losses) $ 1,584 $ 2,173
Net realized and unrealized
gains (losses) on investments ($86,518) $ 21,769
Net increase (decrease) in
net assets from operations ($84,934) $ 23,942

Earnings per Common Share
Outstanding
--------------------------------
Gross investment income $ 0.072 $ 0.085
Operating expenses ($0.047) ($0.050)
------------------ ------------------
Net investment income
(losses) $ 0.025 $ 0.035
Net realized and unrealized
gains (losses) on investments ($1.370) $ 0.346

Net increase (decrease) in
net assets from operations ($1.345) $ 0.381

Net Asset Value at March 31
(Common Shares)
--------------------------------
Net assets (000) $ 1,091,266 $ 1,206,679
Shares outstanding (000) 63,173 63,058
Net asset value per share
outstanding $ 17.27 $ 19.14

Market Value Summary (Common
Shares)
--------------------------------
Market price on NYSE at
March 31 $ 15.89 $ 20.51
High market price (period
ended March 31) $ 17.44 $ 20.78
Low market price (period
ended March 31) $ 15.64 $ 19.57
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Eaton Vance Tax-Managed Buy-Write Opportunities Fund
Investor Contact: 800-262-1122

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