Parametric Portfolio Associates LLC, a Subsidiary of Eaton Vance Corp., Completes Acquisition of The Clifton Group Investment

   Parametric Portfolio Associates LLC, a Subsidiary of Eaton Vance Corp.,
   Completes Acquisition of The Clifton Group Investment Management Company

PR Newswire

SEATTLE, Dec. 31, 2012

SEATTLE, Dec. 31, 2012 /PRNewswire/ --Parametric Portfolio Associates LLC
(Parametric), a subsidiary of Eaton Vance Corp. (NYSE: EV), and The Clifton
Group Investment Management Company (Clifton) announced today the completion
of the previously announced purchase of Clifton by Parametric.

Based in Minneapolis, Clifton specializes in providing futures- and
options-based overlay services and custom risk management solutions to
institutional investors. Clifton's overlay services enable clients to add,
remove or hedge market exposures in a transparent and efficient manner without
disrupting underlying holdings. Clifton's risk management strategies employ
futures, options and similar instruments to help clients enhance risk-adjusted
returns. As of October 31, 2012, Clifton managed $33.5 billion of funded and
overlay assets on behalf of clients. The Clifton acquisition adds a number of
complementary capabilities and product offerings to Parametric, and
strengthens Parametric's position as a market-leading provider of portfolio
solutions.

"We are excited to be joining forces with Clifton," said Brian Langstraat,
Parametric's Chief Executive Officer. "Working together, we see significant
opportunities to better serve clients and grow our business."

About Parametric

Parametric is a Seattle-based investment management firm focused on the
delivery of rules-based, risk-controlled investment strategies, including
engineered alpha-seeking strategies, options strategies and customized equity
and centralized portfolio management implementation services. As of October
31, 2012, Parametric managed $53.4 billion in assets on behalf of
institutions, high-net-worth individuals and fund investors in the U.S. and
internationally. Parametric is a majority-owned subsidiary of Eaton Vance.

About Eaton Vance

Eaton Vance Corp. is one of the oldest investment management firms in the
United States, with a history dating to 1924. Eaton Vance and its affiliates
managed $199.5 billion in assets as of October 31, 2012, offering individuals
and institutions a broad array of investment strategies and wealth management
solutions. Eaton Vance's long record of providing exemplary service, timely
innovation and attractive returns through a variety of market conditions has
made it the investment manager of choice for many of today's most discerning
investors.

SOURCE Eaton Vance Corp.

Contact: Ross Chapin, +1-206-694-4137, or Robyn Tice, +1-617-672-8940