Eaton Vance Tax-Managed Buy-Write Opportunities Fund December 2012 Distribution

      Eaton Vance Tax-Managed Buy-Write Opportunities Fund December 2012
                                 Distribution

PR Newswire

BOSTON, Dec. 31, 2012

BOSTON, Dec. 31, 2012 /PRNewswire/ --Eaton Vance Tax-Managed Buy-Write
Opportunities Fund (NYSE: ETV), today announced important information
concerning its distribution declared in December 2012. This press release is
issued as required by the Fund's managed distribution plan (Plan) and an
exemptive order received from the U.S. Securities and Exchange Commission.
The Board of Trustees has approved the implementation of the Plan to make
quarterly cash distributions to common shareholders, stated in terms of a
fixed amount per common share. This information is sent to you for
informational purposes only and is an estimate of the sources of the December
distribution. It is not determinative of the tax character of the Fund's
distributions for the 2012 calendar year. Shareholders should note that the
Fund's total regular distribution amount is subject to change as a result of
market conditions or other factors.

The amounts and sources of distributions reported in this notice are
estimates, are not being provided for tax reporting purposes and the
distribution may later be determined to be from other sources including
realized short-term gains, long-term gains, to the extent permitted by law,
and return of capital. The actual amounts and sources for tax reporting
purposes will depend upon the Fund's investment experience during the
remainder of its fiscal year and may be subject to changes based on tax
regulations. The Fund will send you a Form 1099-DIV for the calendar year
that will tell you how to report these distributions for federal income tax
purposes.

  Distribution Period: December 2012
  Distribution Amount per Common Share: $0.3323

The following table sets forth an estimate of the sources of the Fund's
December distribution and its cumulative distributions paid this fiscal year
to date. Amounts are expressed on a per common share basis and as a
percentage of the distribution amount.



Eaton Vance Tax-Managed Buy-Write Opportunities Fund
                                                Cumulative     % of the
                                                               Cumulative
                      Current      % of Current Distributions
Source                Distribution              for the        Distributions
                                   Distribution                for the Fiscal
                                                Fiscal
                                                Year-to-Date^1 Year-to-Date^1
Net Investment Income $0.0488      14.7%        $0.1362        10.3%
Net Realized
Short-Term            $0.0000      0.0%         $0.0000        0.0%

Capital Gains
Net Realized
Long-Term             $0.0000      0.0%         $0.0000        0.0%

Capital Gains
Return of Capital or
Other Capital         $0.2835      85.3%        $1.1930        89.7%
Source(s)
Total per common      $0.3323      100.0%       $1.3292        100.0%
share

^1  The Fund's fiscal year is January 1, 2012 to December 31, 2012

IMPORTANT DISCLOSURE: You should not draw any conclusions about the Fund's
investment performance from the amount of this distribution or from the terms
of the Fund's Plan. The Fund estimates that it has distributed more than its
income and net realized capital gains; therefore, a portion of your
distribution may be a return of capital. A return of capital may occur for
example, when some or all of the money that you invested in the Fund is paid
back to you. A return of capital distribution does not necessarily reflect the
Fund's investment performance and should not be confused with 'yield' or
'income.' The amounts and sources of distributions reported in this Notice
are only estimates and are not being provided for tax reporting purposes. The
actual amounts and sources of the amounts for accounting and/or tax reporting
purposes will depend upon the Fund's investment experience during the
remainder of its fiscal year and may be subject to changes based on tax
regulations. The Fund will send you a Form 1099-DIV for the calendar year that
will tell you how to report these distributions for federal income tax
purposes.

Set forth in the table below is information relating to the Fund's performance
based on its net asset value (NAV) for certain periods.

Average annual total return at NAV for the 5-year period ended on       8.11%
November 30, 2012^1
Annualized current distribution rate expressed as a percentage of NAV   9.47%
as of November 30, 2012^2
Cumulative total return at NAV for the fiscal year through November 30, 11.07%
2012^3
Cumulative fiscal year to date distribution rate as a percentage of NAV 7.10%
as of November 30, 2012^4

  ^1 Average annual total return at NAV represents the simple arithmetic
  average of the annual NAV total returns of the Fund for the 5-year period
  ended on November 30, 2012.
  ^2 The annualized current distribution rate is the cumulative distribution
  rate annualized as a percentage of the Fund's NAV as of November 30, 2012.
  ^3 Cumulative total return at NAV is the percentage change in the Fund's NAV
  for the period from the beginning of its fiscal year to November 30, 2012
  including distributions paid and assuming reinvestment of those
  distributions.
  ^4 Cumulative fiscal year distribution rate for the period from the
  beginning of its fiscal year to November 30, 2012 measured on the dollar
  value of distributions in the year-to-date period as a percentage of the
  Fund's NAV as of November 30, 2012.

The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance
Corp. (NYSE: EV), based in Boston, one of the oldest investment management
firms in the United States, with a history dating back 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 products and
wealth management solutions. The Company's long record of providing exemplary
service and attractive returns through a variety of market conditions has made
Eaton Vance the investment manager of choice for many of today's most
discerning investors. For more information about Eaton Vance, visit
www.eatonvance.com.



SOURCE Eaton Vance Management

Website: http://www.eatonvance.com
Contact: Investor Contact, (800) 262-1122