Eaton Vance Corp. Completes Acquisition of 49 Percent Interest in Hexavest Inc.

Eaton Vance Corp.

and Hexavest Inc. announced today the completion of the previously announced purchase by Eaton Vance of a 49 percent interest in Hexavest. The employee shareholders of Hexavest will continue to control the company and direct its operations. Eaton Vance assumes primary responsibility for Hexavest's new business development outside of Canada, and will launch mutual funds in the U.S. and offshore markets to be sub-advised by Hexavest.