2008-07-25 23:01:10 -

- Fitch Ratings expects to assign an 'AAA/F1+' rating to the $100 million (4,000 shares at $25,000 per share) liquidity protected preferred (LPP) shares issued by Eaton Vance Limited Duration Income Fund. The LPP shares, structured to be 2a7 eligible, will entitle the holders to receive cash dividends from the fund at a rate as determined at a weekly remarketing.

The LPP shares' expected long-term rating addresses the likelihood of full and timely payment of dividends on the next remarketing date and principal upon optional or mandatory redemption and is based on the following:

--Evaluation of the fund's portfolio assets as an underlying collateral with the focus on market value loss under the stress scenario.

--The fund's

capital structure and sufficiency of asset coverage according to seniority of the liabilities.

--Qualitative assessment of the fund's investment advisor.

The LPP shares' expected short-term rating addresses the likelihood of full and timely payment of dividends and principal to the LPP share investors on the next remarketing date and is based on the following:

--The liquidity provider's obligation to purchase all LPP shares tendered for sale that have not been sold in the remarketing.

--The credit strength of Citigroup, Inc. (rated 'AA-/F1+' by Fitch), as guarantor supporting the liquidity provider's obligation.

--The integrity of the legal structure.

The short-term rating does not rely on the fund's ability to pay timely dividends or the credit quality of the underlying collateral. Full credit and liquidity support is provided by the liquidity provider.

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Viktoria Baklanova, CFA, 212-908-9162
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