EATON VANCE GROWTH TRUST
N-30D, 1996-05-01
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To Shareholders

We are pleased to welcome shareholders of EV Marathon Information Age
Fund with this first shareholder report. EV Marathon Information Age
Fund had a total return of 7.1% for the period from inception on
September 18, 1995, through February 29, 1996. That performance was the
result of an increase in net asset value per share from $10.00 on
September 18, 1995 to $10.71 on February 29, 1996, and does not include
the Fund's contingent deferred sales charge incurred by shareholders
redeeming within the first 6 years of purchase. By comparison, the S&P
500 - an unmanaged index of U.S. common stocks - rose 11.2%, while the
Morgan Stanley Capital International Europe, Asia, Far East Index (EAFE)
- - an unmanaged index of global common stocks - rose 5.0%* during the
same period.

Information Age companies: Taking part in a world-wide revolution...

The past few years have featured unprecedented growth among
information-based companies, growth that parallels the expansion of the
global economy and new technologies. That is no mere coincidence.
Domestic companies that once marketed products and services solely
within their own national borders are now targeting a global
marketplace, and therefore require the services of advertising and media
companies with a global reach. Similarly, companies that once relied on
single outlets, such as television or print media, are now experimenting
with the new marketing frontiers of the Internet and virtual shopping.
In short, the Infomation Age is about choices: for business, and for
consumers.

*The total return figure for the MSCI EAFE Index is for the period
9/30/95-2/29/96.

The Information Age: Changing the way we live and work...

We live in truly exciting times. Today's school children travel the
solar system with the help of virtual reality software in their
classroom. Consumers have a seemingly unlimited range of entertainment
options available at their fingertips. And telecommuting Silicon Valley
workers confer on complex engineering problems - without leaving their
homes. These developments were the stuff of science fiction only a
decade ago. Today, they are a reality.

The companies that create these products and services, deliver them to
our homes, and make the process easier and faster are introducing
profound changes into our lives. With those developments will come
unique investment opportunities. Naturally, given the pace of change, no
one can perdict the future, and past trends cannot guarantee future
results. But we believe the future for information companies is bright.
And we expect that Information Age Portfolio will share in this new
world of opportunities.

[PHOTO OF JAMES B. HAWKES OMITTED]

Sincerely,

/S/James B. Hawkes

James B. Hawkes
President
April 20, 1996


Management Discussion: 

Duncan W. Richardson and the Hon. Jacob Rees-Mogg

An interview with Duncan W. Richardson, Vice President, Eaton Vance
Management, and the Hon. Jacob Rees-Mogg, of Lloyd George Investment
Management, Investment Advisers to the Information Age Portfolio.

Q: Duncan, give us an overview of how the Portfolio is structured.

[PHOTO OF DUNCAN RICHARDSON OMITTED. CAPTION BENEATH PHOTO READS:]
Duncan W. Richardson

Mr. Richardson:  First and foremost, Information Age Portfolio is a
global growth fund. We've focused on companies around the world that we
believe will post above-average earnings growth. Because we take a
bottom-up, company-specific approach to investing, we don't necessarily
seek a specific regional allocation. But at February 29, around half of
the Portfolio was invested in foreign securities, while the other half
was invested in the U.S. In addition to the Portfolio's global
diversification, we have diversified on a sector basis within the broad
category of information-based companies. At February 29, around half of
the Portfolio's investments were in information creators, while 28% of
the Portfolio was invested in information distributors and the remainder
of the Portfolio focused on information processors.

Q: Jacob, in the U.S. we hear an endless stream of news about the
developments among these information-based companies. Is it much the
same in Europe and Asia?

[PHOTO OF HON. JACOB REES-MOGG OMITTED. CAPTION BENEATH PHOTO READS:]
Hon. Jacob Rees-Mogg

Mr. Rees-Mogg:  It is indeed. The changes occuring in the information
industry are a world-wide phenomenon, and one of dizzying complexity.
While those changes clearly have the power to alter our way of life,
they also represent remarkable opportunities for these companies. These
opportunities have spawned a fierce competition as companies queue
up to meet global information needs. That's the case, not only in the
industrialized nations -  such as the U.K., western Europe, and Japan -
but also in the emerging nations that will require a completely new
telecom infrastructure.

Q: What is driving global competition?

Mr. Rees-Mogg:  There are several forces driving the movement. First,
information is an increasingly vital need for businesses. Techno-logical
advances are making access to that information easier, faster, and more
cost-effective. Second, the growing globalization of the world economy
means that the information industry is essentially a business without
borders. For example, your telephone is as likely to be manufactured in
Finland, or Sweden or Hong Kong as it is in the U.S. Finally, emerging
nations are growing at a breakneck pace. Because their existing
information facilities are still relatively primitive, they will, in the
space of a few short years, see advances that took the U.S. and the U.K.
nearly a century to achieve. Each of these trends is helping fuel the
growth in the global information companies and each will generate
wonderful opportunities for the best- positioned companies.

Q: Let's turn to the information-creators. What do these companies do?

Mr. Richardson: Information-creators develop the content distributed by
the new information technologies. They include companies involved in
entertainment, database creation, publishing, news dissemination, and
outsourcing. Many of these companies are attractive because they
generate strong cash flow. Many of the trends within the information
sector - such as deregulation and privatization - allow these companies
to address a larger, global audience. At the same time, these companies
benefit from the introduction of new technologies that make the
dissemination of information more cost-effective. That adds yet another
dimension of growth to these information providers.

[GRAPHIC OMMITED, HEADER READS:]
The Brave New World of the Information Age
Graphic of a cable -- branches read:

Information-Technology-New Products & Services

Information Creators
  Publishing
  News Industry
  Entertainment
  Date Base Creators
  Information Libraries
Information Processors
  Electronics
  Microprocessing
  Computer Manufacturer
  Computer Software
  CD-Rom
  Robotics
  Semiconductors
  Facsimile
Information Distributors
  Cellular Phones
  Online Services
  Fiber Optics
  Satellites
  Internet Providers
  Television
  Telecommunications
  Cable TV

Companies that...Create content and programming for use around the world...
Porecess information with the aid of the latest technological advances...
and Distribute information and entertainment vehicles to businesses and
consumers alike.

Q: Can you give some examples of some of the Portfolio's information-
creators?

Mr. Richardson:  Certainly. One of the Portfolio's largest holdings is
Viacom Inc. Viacom is a diversified entertainment company with interests
in cable television, publishing, music and video retail chains,
television and radio stations, theme parks and movie theaters. The
company has sharply increased its cash flows in recent years due to
acquisitions and is moving aggressively to improve its balance sheet.
Viacom's entertainment content and its exposure to international markets
could make it one of the world's fastest-growing media companies.

Another large holding, McGraw-Hill Companies, Inc., is a leading
multimedia publisher serving global markets in education, business,
finance, and government. In addition to its well-regarded textbook
division, the company publishes Business Week magazine, operates the
Standard & Poor's financial service, and publishes a wide range of trade
magazines. McGraw also owns four network affiliated television stations.

Q: And some information-creators in the foreign segment of the
Portfolio?

Mr. Rees-Mogg:  The Portfolio's largest single investment is Reuters
Holding PLC, a U.K.-based company that transmits financial data, media
services, and textual information. Reuters' primary market niche is
within the business community and the company's largest profit base is
from financial data and transaction services. The company has witnessed
very rapid growth in its share of the massive foreign exchange market.

Elsewhere, Polygram is a prime example of the Portfolio's entertainment
stocks. The company ranks among the world's top three record companies.
Because the company is principally a copyright owner, it's especially
well-situated in the global market. There is a growing demand by
distributors around the world for a very limited supply of top-quality
entertain-ment products. That puts copyright holders like Polygram in a
very advantageous position.

Q: Let's turn next to the information-distributors. What do they do?

Mr. Richardson: Information-distributors are the companies involved in
the delivery of information ranging from entertainment to broadcast news
to telecommunications to computer data. The distributor segment includes
phone companies, satellite operators, cable television providers, online
computer services, and internet-related companies. These companies
service the consumer and business segments alike and are steadily
broadening their markets as new technology enables the more efficient
delivery of services that inform, educate, and entertain.

[GRAPHIC OF 3 PIE CHARTS OMMITED, HEADER READS:]
Information Age Portfolio: Asset Allocation
Based on market value as of February 29, 1996

By Information sector...
  Information Porcessors 24.4%
  Information Distributors 27.9%
  Information Creators 47.7%

By Region/Country...
  Australia 1.2%
  Japan 9.7%
  Asia/Pacific 11.4%
  Europe 13.4%
  U.K. 14.4%
  U.S. 49.9%

By Industry (Common Stocks only)...
  Other 4.2%
  Electronics 4.4%
  Semiconductors 5.3%
  Hardware/Software 10.6%
  Business Services 11.9%
  Publishing 12.3%
  Broadcasting 13.4%
  Telephone services 16.2%
  Entertainment 21.7%

Q: What companies do you own in the distributor segment?

Mr. Richardson: Phone and cable companies are some of the Portfolio's
largest investments among the information-distributors. In the U.S., the
recently passed telecom legislation was an important step on the road to
deregulating the telecom markets. In the near-term, well-positioned
regional Bell operating companies (RBOCs) and cable companies are likely
to be the prime beneficiaries of the legislation.

In the past, the highly-regulated local phone industry had relatively
little incentive to control costs. However, in a newly-regulated and
increasingly competitive world of phone services, the RBOCs stand to
benefit significantly from reduced cost structures and improved
efficiencies. Ameritech Corp. is one of the Portfolio's largest RBOC
holdings. Ameritech's core business consists of providing telephone,
cellular, and directory services to six Midwestern states. The company
is rapidly adding new services, including cable television and long
distance phone service. In addition, Ameritech has formed alliances with
entertainment companies, including the Disney Company, to develop
property for future cable distribution.

In the cable television and broadcasting area, Comcast Corp. and
Cablevision Systems Corp., for example, are both large operators in this
country. The telecom bill establishes a date-certain for full
deregulation of cable rates. With the deregulation that has already
occurred and the introduction of new services, we believe the prospects
for improving cash flow at these companies are very good.

[GRAPHIC OMMITED, HEADER READS:]
The demand for Info Age services is strong, even among emerging nations.
World's Top Ten Nations According to Per Capita Telecom Revenues

1. Surinam           $1792
2. Greenland          1316 
3. Switzerland        1000
4. Bermuda             891
5. Gabon               803
6. Singapore           733
7. Aruba               714
8. Denmark             602
9. Hong Kong           597
10. U.S.               589
Source:  Financial Times

Q: Are the distribution companies overseas equally as growth-minded?

Mr. Rees-Mogg:  The growth in the telecom and broadcasting industries
is no less explosive in the foreign markets. In developed nations, many
phone companies have traditionally been hampered by high regulatory
barriers. Gradually, however, industry reforms are making these markets
much more competitive. In addition, many telecom giants in Europe and
Asia are forming important strategic alliances. British
Telecommunications PLC (BT), for example, a large Portfolio holding, has
forged joint ventures with companies in Italy, Spain, and Germany. And,
at the very heart of BT's international strategy is its "Concert"
program, a co-venture with MCI of the U.S.

Another important trend in global telecommunications is that
toward privatization. Most of the world's phone companies have operated
heretofore as state-run monopolies. With a more liberalized policy on
international traffic, these companies are facing up to the need to
privatize in order to meet the demands of international competition.
That is true especially in the emerging markets. Emerging economies in
Latin America, Central Europe and Asia have enormous needs for a telecom
infrastructure. Companies in these areas are poised for remarkable
growth.

In the foreign broadcasting segment, the Portfolio owns shares in
Television Broadcasts Ltd (TVB), which has a dominant market share in
the Hong Kong broadcasting market. The company has been active in
developing projects in Greater China and India. TVB has a major asset in
its expanding library of Chinese-language programs. That library is
likely to be an increasingly valuable business asset if the Chinese
economy achieves its long-range growth targets.

Some Recent Developments among Information Age companies:

(bullet) Microsoft Corp. - the U.S. software giant recently introduced 
a prototype of future PCs that will connect to big-screen TVs. The new 
PCs will manage video disks, stereos, phones, and other consumer 
electronic equipment.

(bullet) News Corporation Ltd.  - the Australia-based media conglomerate's 
40%-owned British Sky Broadcasting joined with Bertelsmann* of Germany 
and Havas of France to develop digital pay TV. With 37 million TV 
house-holds, Germany is the most valuable TV market in Europe.

(bullet) SBC Communications - the Southwestern U.S. phone company announced 
a merger with San Francisco-based Pacific Telesis.* This first-ever union 
of "Baby Bells" will create a well-capitalized giant in the lucrative West 
Coast phone market.

* These companies are not investments of the Portfolio.

Q: Finally, let's focus on the information-processors. What businesses
does this segment include?

Mr. Richardson:  Companies in this sector develop the products that
facilitate the processing of data and information. In this sector,
technology plays a very important role. Technological advances in
computers, semiconductors, and software have made it possible to
transmit larger volumes of information at faster speeds. As the quality
of products has rapidly improved, the demand for the products of these
processor-companies has continued to grow in the U.S. and abroad.

Q: And what information-processor companies have you found attractive?

Mr. Richardson: At the very heart of the technological advances made in
recent years is the semiconductor, and Intel Corp. is far and away the
world's leading chip maker. Intel benefits not only from having
established the industry standard for microprocessors, but also from the
increasing usage of semiconductors in an expanding range of information
products. It is likely that in the future, the home computer will be the
focal point for video, data transmission, phone services, and security
systems. With each succeeding generation of technology, there is a
rising demand for the latest semiconductor technology. Intel's
president, Andrew Grove, has predicted that by 1998, 100 million
personal computers will be sold annually. As the market leader, Intel
should be singularly well-positioned.

Q: And what information-processors caught your eye abroad?

Mr. Rees-Mogg:  KCE Electronics is a Thailand-based maker of printed
circuit boards for the personal computer market. While the company's
core business is extremely profitable, its real growth prospects are
tied to its venture with Avatar, a maker of removable hard disk drives.
The company has developed a new technology that increases both disk
speed and storage capacity. KCE enjoys a large lead in its technology
and is in talks with computer makers. Despite limited capacity, KCE may
overcome those constraints by licensing its technology to third party
manufacturers.

Q: What are the risks in these investments?

Mr. Richardson: There is certainly risk in any equity investment, and
these companies are no different. Many of these companies are foreign
companies and there is some risk of foreign currency fluctuation as well
as a shift in foreign political sentiments. And, of course, the rapid
pace of change within the information sector amplifies somewhat the risk
of obsolescence.

Q: Clearly, the Information Age universe is developing rapidly. What is
your outlook for the information sectors?

Mr. Richardson:  In my view, the future is unlimited for
information-based companies. We've seen vast markets opened in recent
years due to a widening global economy and the progress of technology.
But as remarkable as that progress has been, we've really only scratched
the surface of the market potential. While there is naturally no
guarantee that these trends will continue, it's likely that tomorrow
will bring us a world that we can barely imagine today. We believe that
our global fundamental research capabilities provide us unusually good
access to these growth opportunities. And we expect that Information Age
Portfolio will participate in that growth.

An Information Age Glossary

Cellular: A communications system that transmits voice, data, or video
information over radio frequencies.

Internet: The global web of networks connecting computers around the
world and providing access to information from a variety of sources or
libraries.

On-line services: Part of the electronic commercial market, these
two-way services enable customers to interact with vendors such as banks
or retailers through use of a personal computer and a modem.

Privatization: The government sale of all or part of a national phone
company to private investors.

[PHOTO OF INFORMATION HIGHWAY OMITTED]


<TABLE>
<CAPTION>
EV Marathon Information Age Fund
Financial Statements
Statement of Assets and Liabilities
February 29, 1996 (Unaudited)
- -----------------------------------------------------------------------------------------------------------------------------
<S>                                                                                        <C>                  <C>
Assets:
  Investment in Information Age Portfolio (Portfolio), at value (Note 1A) 
    (identified cost, $14,913,623)                                                                              $  15,479,823
  Receivable for Fund shares sold                                                                                     287,847
  Deferred organization expenses (Note 1D)                                                                             45,539
  Tax reclaim receivable                                                                                                  318
                                                                                                                -------------
    Total assets                                                                                                $  15,813,527
Liabilities:
  Payable for Fund shares redeemed                                                         $       9,868
  Payable to affiliate -- 
    Trustees' fees                                                                                    57
  Accrued organization expense                                                                    50,000
  Accrued expenses                                                                                 5,918
                                                                                           -------------
    Total liabilities                                                                                                  65,843
                                                                                                                -------------
Net Assets for 1,469,869 shares of beneficial interest outstanding                                              $  15,747,684
                                                                                                                =============
Sources of Net Assets:
  Paid-in Capital                                                                                               $  15,215,028
  Accumulated net realized gain on investment transactions from Portfolio                                                 122
  Accumulated net investment loss                                                                                     (33,666)
  Unrealized appreciation of investments from Portfolio
    (computed on the basis of identified cost)                                                                        566,200
                                                                                                                -------------
    Total                                                                                                       $  15,747,684
                                                                                                                =============
Net Asset Value, Offering and Redemption Price (Note 6) Per Share
  ($15,747,684 (divided by) 1,469,869 shares of beneficial interest                                                    $10.71
                                                                                                                       ======

See notes to financial statements
</TABLE>


<TABLE>
<CAPTION>
Statement of Operations
For the period from the start of business, September 18, 1995 to February 29, 1996 (Unaudited)
- -----------------------------------------------------------------------------------------------------------------------------
<S>                                                                                        <C>                  <C>
Investment Income (Note 1B):
  Dividend income allocated from Portfolio (net of foreign taxes, $1,912)                                       $      28,690
  Interest income allocated from Portfolio                                                                             53,596
  Expenses allocated from Portfolio                                                                                   (58,050)
                                                                                                                -------------
    Total investment income                                                                                     $      24,236
  Expenses --
    Management fee (Note 3)                                                                $       9,968
    Compensation of Trustees not members of the
      Manager's organization (Note 3)                                                                 57
    Custodian fee (Note 3)                                                                           416
    Distribution fees (Note 5)                                                                    29,905
    Transfer and dividend disbursing agent fees                                                    4,117
    Printing and postage                                                                           3,192
    Legal and accounting services                                                                    215
    Registration fees                                                                              2,700
    Amortization of organization expenses (Note 1D)                                                4,461
    Miscellaneous                                                                                  2,871
                                                                                           -------------
      Total expenses                                                                                                   57,902
                                                                                                                -------------
        Net investment loss                                                                                     $     (33,666)
                                                                                                                -------------
Realized and Unrealized Gain (Loss) from Portfolio:
  Net realized gain from Portfolio (identified cost basis) --
    Investment transactions                                                                      $12,448
    Foreign currency                                                                             (12,326)
                                                                                           -------------
      Net realized gain                                                                                         $         122
  Unrealized appreciation of investments                                                                              566,200
                                                                                                                -------------
      Net realized and unrealized gain                                                                          $     566,322
                                                                                                                -------------
        Net increase in net assets from operations                                                              $     532,656
                                                                                                                =============

See notes to financial statements
</TABLE>


<TABLE>
<CAPTION>
Statement of Changes in Net Assets
For the period from the start of business, September 18, 1995, to February 29, 1996 (Unaudited)
- --------------------------------------------------------------------------------------------------------------------
<S>                                                                                                     <C>
Increase (Decrease) in Net Assets:
From operations --
  Net investment loss                                                                                   $   (33,666)
  Net realized gain from Portfolio                                                                              122
  Unrealized appreciation from Portfolio                                                                    566,200
                                                                                                        -----------
    Net increase in net assets from operations                                                          $   532,656
                                                                                                        -----------
Transactions in shares of beneficial interest (Note 4) --
  Proceeds from sale of shares                                                                          $15,935,778
  Cost of shares redeemed                                                                                  (720,750)
    Increase in net assets from Fund share transactions                                                 $15,215,028
                                                                                                        -----------
      Net increase in net assets                                                                        $15,747,684
Net Assets:
  At beginning of period                                                                                         --
                                                                                                        -----------
  At end of period (including accumulated net investment loss of $33,666)                               $15,747,684
                                                                                                        ===========

See notes to financial statements
</TABLE>


<TABLE>
<CAPTION>
Financial Highlights
For the period from the start of business, September 18, 1995, to February 29, 1996 (Unaudited)
- -------------------------------------------------------------------------------------------------------------------
<S>                                                                                                      <C>
Net asset value - Beginning of period                                                                      $ 10.000
                                                                                                           --------
Income from operations:
  Net investment loss                                                                                     $  (0.023)
  Net realized and unrealized gain
    on investments                                                                                            0.733
                                                                                                           --------
    Total income from operations                                                                           $  0.710
                                                                                                           --------
Net asset value - End of period                                                                            $ 10.710
                                                                                                           ========
Total Return (1)                                                                                              7.10%
Ratios/Supplemental Data:
  Net assets, end of period (000's omitted)                                                                $ 15,748
  Ratio of net expenses to average net assets *                                                               2.90%+
  Ratio of net investment loss to average net assets                                                         (0.84%)+
  *  Includes the Fund's share of Information Age Portfolio's allocated expenses
  +  Annualized.
(1)  Total investment return is calculated assuming a purchase at the net asset value on the first day and a sale at the 
     net asset value on the last day of each period reported.  Dividends and distributions, if any, are assumed to be 
     reinvested at the net asset value on the payable date.

See notes to financial statements
</TABLE>


Notes to Financial Statements
(UnAudited)

(1) Significant Accounting Policies

EV Marathon Information Age Fund (the Fund) is a diversified series of 
Eaton Vance Growth Trust (the Trust). The Trust is an entity of the type 
commonly known as a Massachusetts business trust and is registered under 
the Investment Company Act of 1940, as amended, as an open-end, 
management investment company. The Fund invests all of its investable 
assets in interests in Information Age Portfolio (the Portfolio), a New 
York Trust, having the same investment objective as the Fund. The value 
of the Fund's investment in the Portfolio reflects the Fund's 
proportionate interest in the net assets of the Portfolio (51.3% at 
February 29,1996). The performance of the Fund is directly affected by 
the performance of the Portfolio. The financial statements of the 
Portfolio, including the portfolio of investments, are included 
elsewhere in this report and should be read in conjunction with the 
Fund's financial statements. The following is a summary of significant 
accounting policies consistently followed by the Fund in the preparation 
of its financial statements. The policies are in conformity with 
generally accepted accounting principles.

A. Investment Valuation - Valuation of securities by the Portfolio is 
discussed in Note 1 of the 
Portfolio's Notes to Financial Statements which are included elsewhere 
in this report.

B. Income - The Fund's net investment income consists of the Fund's pro 
rata share of the net investment income of the Portfolio, less all 
actual and accrued expenses of the Fund determined in accordance with 
generally accepted accounting principles.

C. Federal Taxes - The Fund's policy is to comply with the provisions of 
the Internal Revenue Code applicable to regulated investment companies 
and to distribute to shareholders each year all of its net investment 
income, and any net realized capital gains. Accordingly, no provision 
for federal income or excise tax is necessary.

D. Deferred Organization Expenses - Costs incurred by the Fund in 
connection with its organization are being amortized on the straight-
line basis over five years.

E. Interim Financial Information - The interim financial statements 
relating to February 29, 1996 and for the period then ended have not 
been audited by independent certified public accountants, but in the 
opinion of the Fund's management, reflect all adjustments, consisting 
only of normal recurring adjustments, necessary for the fair 
presentation of the financial statements.

(2) Distributions to Shareholders

It is the present policy of the Fund to make at least one distribution 
annually (normally in December) of all or substantially all of the 
investment income allocated to the Fund by the Portfolio, less the 
Fund's direct and allocated expenses and at least one distribution 
annually of all or substantially all of the net realized capital gains 
(reduced by any available capital loss carryforwards from prior years) 
allocated by the Portfolio to the Fund, if any. 

Shareholders may reinvest all distributions in shares of the Fund at the 
per share net asset value as of the close of business on the record 
date. The Fund distinguishes between distributions on a tax basis and a 
financial reporting basis. Generally accepted accounting principles 
require that only distributions in excess of tax basis earnings and 
profits be reported in the financial statements as a return of capital. 
Differences in the recognition or classification of income between the 
financial statements and tax earnings and profits which result in 
temporary over distributions for financial statement purposes are 
classified as distributions in excess of net investment income or 
accumulated net realized gains. Permanent differences between book and 
tax accounting relating to distributions are reclassified to paid-in 
capital.

(3) Management Fee and Other Transactions with Affiliates

The management fee is earned by Eaton Vance Management (EVM) as 
compensation for management and administration of the business affairs 
of the Fund.The fee is based on a percentage of average daily net 
assets. For the period ended February 29, 1996 the fee was equivalent to 
0.25% of the Fund's average net assets for such period and amounted to 
$9,968. Except as to Trustees of the Fund who are not members of EVM's 
organization, officers and Trustees receive remuneration for their 
services to the Fund out of such management fee. Investors Bank & Trust 
Company (IBT), serves as custodian of the Fund and the Portfolio. Prior 
to November 10, 1995, IBT was an affiliate of EVM. Pursuant to the 
respective custodian agreements, IBT receives a fee reduced by credits 
which are determined based on the average cash balances the Fund or 
Portfolio maintains with IBT. No significant credit balances were used 
to reduce the Funds custody fees. Certain officers and Trustees of the 
Fund and the Portfolio are officers and directors/trustees of the above 
organizations. In addition, investment adviser, administrative fees, and 
custodian fees are paid by the Portfolio to EVM and its affiliates. See 
Note 2 of the Portfolio's Notes to Financial Statements which are 
included elsewhere in this report.

(4) Shares of Beneficial Interest

The Declaration of Trust permits the Trustees to issue an unlimited 
number of full and fractional shares of beneficial interest (without par 
value). Transactions in Fund shares for the period from the start of 
business September 18, 1995 to February 29, 1996 were as follows:

Sales                                  1,539,542
Issued to shareholders electing to
  receive payments of distributions
  in Fund shares                              --
Redemptions                              (69,673)
                                      ----------
  Net increase                         1,469,869
                                      ==========
                                      
(5) Distribution Plan

The Fund has adopted a distribution plan (the "Plan") pursuant to Rule 
12b-1 under the Investment Company Act of 1940. The Plan requires the 
Fund to pay the Principal Underwriter, Eaton Vance Distributors, Inc. 
(EVD) amounts equal to 1/365 of 0.75% of the Fund's daily net assets, 
for providing ongoing distribution services and facilities to the Fund. 
The Fund will automatically discontinue payments to EVD during any 
period in which there are no outstanding Uncovered Distribution Charges, 
which are equivalent to the sum of (i) 5% of the aggregate amount 
received by the Fund for the shares sold plus, (ii) distribution fees 
calculated by applying the rate of 1% over the prevailing prime rate to 
the outstanding balance of Uncovered Distribution Charges of EVD reduced 
by the aggregate amount of contingent deferred sales charges (see Note 
6) and daily amounts theretofore paid to EVD. The amount payable to EVD 
with respect to each day is accrued on such day as a liability of the 
Fund and, accordingly, reduces the Fund's net assets. The Fund paid 
$29,905 to EVD for the period from the start of business September 18, 
1995 to February 29, 1996, representing 0.75% of average daily net 
assets. At February 29, 1996, the amount of Uncovered Distribution 
Charges of EVD calculated under the Plan was approximately $716,000.

In addition, the Plan authorizes the Fund to make payments of service 
fees to the Principal Underwriter, Authorized Firms and other persons in 
amounts not exceeding 0.25% of the Fund's average daily net assets for 
each fiscal year. The Trustees have initially implemented the Plan by 
authorizing the Fund to make quarterly payments of service fees to the 
Principal Underwriter and Authorized Firms in amounts not expected to 
exceed 0.25% per annum of the Fund's average daily net assets based on 
the value of Fund shares sold by such persons and remaining outstanding 
for at least one year. Service fee payments will be made for personal 
services and/or the maintenance of shareholder accounts. Service fees 
are separate and distinct from the sales commissions and distribution 
fees payable by the Fund to EVD, and, as such, are not subject to 
automatic discontinuance where there are no outstanding Uncovered 
Distribution Charges of EVD. The fund expects to begin accruing for its 
service fee payments during the quarter ending September 30, 1996.

Certain officers and Trustees of the Fund are officers or directors of 
EVD.

(6) Contingent Deferred Sales Charge

A contingent deferred sales charge (CDSC) is imposed on any redemption 
of Fund shares made within six years of purchase. Generally, the CDSC is 
based upon the lower of the net asset value at date of redemption or 
date of purchase. No charge is levied on shares acquired by reinvestment 
of dividends or capital gain distributions. The CDSC is imposed at 
declining rates that begin at 5% in the first and second year of 
redemption after purchase, declining one percentage point each year 
thereafter. No CDSC is levied on shares which have been sold to EVM or 
its affiliates or to their respective employees or clients. CDSC charges 
are paid to EVD to reduce the amount of Uncovered Distribution Charges 
calculated under the Fund's Distribution Plan. CDSC charges received 
when no Uncovered Distribution Charges exist will be retained by the 
Fund. EVD received approximately $14,000 of CDSC paid by shareholders 
for the period ended February 29, 1996.

(7) Investment Transactions

Increases and decreases in the Fund's investment in the Portfolio 
aggregated $15,647,930 and $758,349, respectively.



<TABLE>
<CAPTION>

Information Age Portfolio
Portfolio of Investments
February 29, 1996
(Unaudited)
- -------------------------------------------------------------------------------------
Common Stock -- 94.6%
- -------------------------------------------------------------------------------------
Name of Company                                                Shares           Value
- -------------------------------------------------------------------------------------
<S>      <C>                                                 <C>            <C>
Broadcasting -- 12.7%
         Benpress Holdings GDR+                                32,000        $232,000
         Bimantra Citra+                                      380,000         447,010
         Cablevision Systems Corp.                              5,000         290,625
         Comcast Corp.                                         22,000         431,750
         Evergreen Media Corp. Class A                         15,000         496,875
         General Motors Corp. Class H                           5,000         286,250
         Media General, Inc. Class A                            6,000         224,250
         Sistem TV Malaysia+                                   51,000         165,097
         Telecommunications International Class A               5,000         107,500
         Television Broadcasts Ltd.+                          110,000         418,321
         United States Satellite Broadcasting Co.              10,000         325,000
         Westinghouse Electric                                 22,000         407,000
                                                                          -----------
                                                                           $3,831,678
                                                                          -----------
Business, Computer, & Financial Services -- 11.3%
         Automatic Data Processing, Inc.                        8,000        $310,000
         Ceridian Corp.                                        11,500         494,500
         Desktop Data                                          16,000         488,000
         First Data Corp.                                       4,000         277,000
         Hitachi Maxell Ltd. ADR+                              24,000         447,659
         Omnicom Group                                         15,000         613,125
         Reuters Holding PLC+                                  73,000         785,846
                                                                          -----------
                                                                           $3,416,130
                                                                          -----------
Computer Hardware & Software -- 10.0%
         Eastman Kodak Co.                                      8,000        $572,000
         Inso Corp.                                             4,500         221,625
         International Business Machines Corp.                  3,000         367,875
         INTUIT Inc.                                            6,000         400,500
         LSI Logic                                              8,000         221,000
         Microsoft Corp.                                        4,000         394,750
         Misys PLC+                                            23,000         250,134
         NTT Data Communications Systems Corp.+                    90         265,511
         Oracle Corp.                                           6,000         312,000
                                                                          -----------
                                                                           $3,005,395
                                                                          -----------
Electronics -- 4.2%
         KCE Electronics PLC+                                  93,000        $505,395
         Samsung Electronics GDR+                               4,000         368,000
         Sharp Corp.+                                          25,000         390,179
                                                                          -----------
                                                                           $1,263,574
                                                                          -----------
Entertainment -- 20.5%
         Carlton Communications+                               55,000        $352,360
         Gaylord Entertainment                                 12,000         321,000
         Grammy Entertainment PLC+                             50,000         476,002
         Havas SA+                                              5,500         415,741
         Media of Medias PLC+                                  50,000         353,035
         New World Communications Group                        11,000         206,250
         News Corporation Ltd.+                                60,000         341,295
         News International PLC+                              100,000         464,886
         Nintendo Corp. Ltd.+                                   5,000         337,838
         Polygram+                                              8,000         466,954
         Seagrams Co. Ltd.                                     12,000         412,500
         Shaw Brothers Ltd.+                                  300,000         349,248
         Sony Corp.+                                           10,000         586,223
         Thomas Nelson Inc.                                    30,000         468,750
         US West Media Group                                    8,000         167,000
         Viacom Inc. Class B                                   12,000         471,000
                                                                          -----------
                                                                           $6,190,082
                                                                          -----------
Miscellaneous -- 3.2%
         Fuji Photo Film ADR+                                  13,000        $368,671
         Secom Co. Ltd.+                                        3,000         187,286
         Xerox Corp.                                            3,000         390,750
                                                                          -----------
                                                                             $946,707
                                                                          -----------
Online Service -- 0.5%
         H&R Block                                              4,500        $159,188
                                                                          -----------
Publishing -- 11.6%
         Dorling Kindersley PLC+                               40,000        $317,685
         Dow Jones & Co., Inc.                                 10,000         390,000
         McGraw-Hill Companies, Inc.                            5,500         480,563
         Pearson PLC+                                          60,000         628,860
         United News & Media PLC+                              50,000         493,224
         Springer Axel Verlag AG+                                 800         541,884
         Wolters Kluwer NV+                                     6,000         645,710
                                                                          -----------
                                                                           $3,497,926
                                                                          -----------
Semiconductors & Semi Equipment-- 5.0%
         AMP Inc.                                               7,000        $298,375
         Applied Materials, Inc.                                8,000         286,000
         Intel Corp.                                            7,000         411,687
         Microchip Technology, Inc.                            10,000         277,500
         Singapore Press Holdings Ltd.+                        12,000         242,184
                                                                          -----------
                                                                           $1,515,746
                                                                          -----------
Telephone Services -- 15.3%
         Ameritech Corp.                                        7,000        $403,375
         AT&T Corp.                                             8,000         509,000
         British Telecommunications PLC+                       70,000         399,181
         Frontier Corp.                                        16,000         480,000
         Intelcom Group, Inc.                                  10,000         161,250
         Nippon Telegraph & Telephone+                             20         152,265
         NYNEX Corp.                                            6,500         334,750
         SBC Communications                                     7,500         411,563
         STET+                                                180,000         550,363
         Tele Denmark B+                                       10,000         588,442
         Telecom Italia Mobile SA+                            240,000         440,599
         US West Inc.                                           6,000         196,500
                                                                          -----------
                                                                           $4,627,288
                                                                          -----------
Telecommunications Equipment -- 0.3%
         Nokia Corp.+                                           3,000        $104,346
                                                                          -----------
         Total Common Stocks (identified cost, $27,438,915)               $28,558,060
                                                                          -----------
- -------------------------------------------------------------------------------------
Convertible Bond -- 0.1%
- -------------------------------------------------------------------------------------
                                                            Par Value
- -------------------------------------------------------------------------------------
         Havas SA, 12.75, 1/1/03+ (identified cost, $44,743) $225,000         $44,424
                                                                          -----------
- -------------------------------------------------------------------------------------
Short-Term Obligation -- 8.5%
- -------------------------------------------------------------------------------------
                                                          Face Amount
- -------------------------------------------------------------------------------------
FHLMC Discount Notes, 5.30s, 3/1/96, at amortized cost     $2,565,000      $2,565,000
                                                                          -----------
- -------------------------------------------------------------------------------------
Put Options Purchased -- 0.3%
- -------------------------------------------------------------------------------------
Name of Company                                             Principal
                                                               Amount
                                                         of Contracts           Value
- -------------------------------------------------------------------------------------
Option to Deliver/Receive, Strike Price, Expiration Date:
JPY/USD, 100.5, April 1996                                      1,000         $11,439
JPY/USD, 101.85, December 1996                                  1,000          67,452
                                                                          -----------
Total Put Options Purchased (premiums paid, $66,804)                          $78,891
                                                                          -----------
Total Investments (identified cost, $30,115,462)                          $31,246,375

Other Assets, Less Liabilities -- (3.5%)                                   (1,068,758)
                                                                          -----------
Net Assets -- 100%                                                        $30,177,617
                                                                          ===========
+Foreign Security
ADR -- American Depositary Receipt
GDR -- Global Depositary Receipt
JPY -- Japanese Yen
USD -- United States Dollars

See notes to financial statements

</TABLE>



Financial Statements

<TABLE>
<CAPTION>

Statement of Assets and Liabilities
February 29, 1996 (Unaudited)
- -----------------------------------------------------------------------------------------------
<S>                                                                  <C>           <C>
Assets:
Investments, at value (Note 1A) (identified cost, $30,115,462)                      $31,246,375
Cash                                                                                      1,721
Cash denominated in foreign currencies (cost, $3,649)                                     3,652
Dividends receivable                                                                     24,993
Deferred organization expenses (Note 1C)                                                  5,693
                                                                                    -----------
Total assets                                                                        $31,282,434
Liabilities:
Payable for investments purchased                                      $1,091,510
Payable to affiliate --
Trustees' fees                                                                255
Accrued expenses                                                           13,052
                                                                      -----------
Total liabilities                                                                     1,104,817
                                                                                    -----------
Net Assets applicable to investors' interest in Portfolio                           $30,177,617
                                                                                    ===========

Sources of Net Assets:
Net proceeds from capital contributions and withdrawals                             $29,046,626
Net unrealized appreciation of investments
(computed on the basis of identified cost)                                            1,130,991
                                                                                    -----------
Total                                                                               $30,177,617
                                                                                    ===========
See notes to financial statements

</TABLE>



<TABLE>
<CAPTION>

Statement of Operations
For the period from the start of business, September 18, 1995, to February 29, 1996 (Unaudited)
- -----------------------------------------------------------------------------------------------
<S>                                                                    <C>            <C>
Investment Income:
Income --
Dividends (net of foreign taxes of $3,764)                                              $55,448
Interest                                                                                 98,054
                                                                                     ----------
Total income                                                                           $153,502
Expenses --
Investment adviser fee (Note 2)                                           $56,494
Administration fee (Note 2)                                                18,684
Compensation of Trustees not members of the
Investment Adviser's organization (Note 2)                                    255
Custodian fees (Note 2)                                                    32,717
Legal and accounting services                                               2,421
Amortization of organization expenses (Note 1C)                               557
Miscellaneous                                                                  91
                                                                       ----------
Total expenses                                                                          111,219
                                                                                     ----------
Net investment income                                                                   $42,283
                                                                                     ----------
Realized and Unrealized Gain (Loss) on Investments:
Net realized gain (loss) (identified cost basis) --
Investment transactions                                                   $13,127
Foreign currency                                                          (22,612)
                                                                       ----------
Net realized loss                                                                       ($9,485)
Unrealized appreciation --
Investments (identified cost basis)                                    $1,130,913
Foreign currency                                                               78
                                                                       ----------
Net unrealized appreciation                                                           1,130,991
                                                                                     ----------
Net realized and unrealized gain on investments                                      $1,121,506
                                                                                     ----------
Net increase in net assets from operations                                           $1,163,789
                                                                                     ==========

See notes to financial statements

</TABLE>



<TABLE>
<CAPTION>

Statement of Changes in Net Assets
For the period from the start of business, September 18, 1995, to
February 29, 1996 (Unaudited)
- ---------------------------------------------------------------------------------
<S>                                                                  <C>
Increase (Decrease) in Net Assets:
From operations --
Net investment income                                                     $42,283
Net realized loss on investment transactions                               (9,485)
Change in unrealized appreciation of investments                        1,130,991
                                                                      -----------
Increase in net assets from operations                                 $1,163,789
                                                                      -----------
Capital transactions --
Contributions                                                         $30,122,764
Withdrawals                                                            (1,208,936)
                                                                      -----------
Increase in net assets resulting from capital transactions            $28,913,828
                                                                      -----------
Total increase in net assets                                          $30,077,617
Net Assets:
At beginning of period                                                    100,000
                                                                      -----------
At end of period                                                      $30,177,617
                                                                      ===========

See notes to financial statements

</TABLE>



<TABLE>
<CAPTION>

Supplementary Data
For the period from the start of business, September 18, 1995, to February 29, 1996 (Unaudited)
- -----------------------------------------------------------------------------------------------
<S>                                                                                      <C>
Ratios (As a percentage of average daily net assets):
Expenses                                                                                   1.48%+
Net investment income                                                                      0.56%+
Portfolio Turnover                                                                           25%
Average commision rate paid *                                                            3.1970%

Net Assets, end of period (000 omitted)                                                 $30,178

+ Computed on an annualized basis.
* Average Commision rate paid is computed by dividing the total dollar amount of commissions paid 
  by the total number of shares purchased and sold during the fiscal year for which commissions
  were charged.

See notes to financial statements

</TABLE>



Notes to Financial Statements
(Unaudited)

(1) Significant Accounting Policies

Information Age Portfolio (the "Portfolio") is registered under the 
Investment Company Act of 1940 as a diversified, open-end investment 
company. The Portfolio which was organized as a trust under the laws of 
the State of New York on September 1, 1992 seeks to provide long-term 
capital growth by investing in a global and diversified portfolio of 
securities of information age companies. The Declaration of Trust 
permits the Trustees to issue interests in the Portfolio. The following 
is a summary of the significant accounting policies of the Portfolio. 
The policies are in conformity with generally accepted accounting 
principles.

A. Investment Valuations - Marketable securities, including options, 
that are listed on foreign or U.S. securities exchanges or in the NASDAQ 
National Market System are valued at closing sale prices, on the 
exchange where such securities are principally traded. Futures positions 
on securities or currencies are generally valued at closing settlement 
prices. Unlisted or listed securities for which closing sale prices are 
not available are valued at the mean between the latest bid and asked 
prices. Short-term debt securities with a remaining maturity of 60 days 
or less are valued at amortized cost. Other fixed income and debt 
securities, including listed securities and securities for which price 
quotations are available, will normally be valued on the basis of 
valuations furnished by a pricing service. Investments for which 
valuations or market quotations are unavailable are valued at fair value 
using methods determined in good faith by or at the direction of 
the Trustees.

B. Federal Taxes - The Portfolio is treated as a partnership for Federal 
tax purposes. No provision is made by the Portfolio for federal or state 
taxes on any taxable income of the Portfolio because each investor in 
the Portfolio is ultimately responsible for the payment of any taxes on 
its share of such income. Since some of the Portfolio's investors are 
regulated investment companies that invest all or substantially all of 
their assets in the Portfolio, the Portfolio normally must satisfy the 
applicable source of income and diversification requirements, (under the 
Internal Revenue Code), in order for its investors to satisfy them. The 
Portfolio will allocate, at least annually among its investors, each 
investor's distributive share of the Portfolio's net investment income, 
net realized capital gains, and any other items of income, gain, loss, 
deduction or credit. Withholding taxes on foreign dividends and capital 
gains have been provided for in accordance with the Trust's 
understanding of the applicable countries' tax rules and rates.

C. Deferred Organization Expenses - Costs incurred by the Portfolio in 
connection with its organization, including registration costs, are 
being amortized on the straight-line basis over five years.

D. Futures Contracts - Upon the entering of a financial futures 
contract, the Portfolio is required to deposit ("initial margin") either 
in cash or securities an amount equal to a certain percentage of the 
purchase price indicated in the financial futures contract. Subsequent 
payments are made or received by the Portfolio ("margin maintenance") 
each day, dependent on daily fluctuations in the value of the underlying 
security, and are recorded for book purposes as unrealized gains or 
losses by the Portfolio. The Portfolio's investment in financial futures 
contracts is designed only to hedge against anticipated future changes 
in interest or currency exchange rates. Should interest or currency 
exchange rates move unexpectedly, the Portfolio may not achieve the 
anticipated benefits of the financial futures contracts and may realize 
a loss.

E. Foreign Currency Translation - Investment valuations, other assets, 
and liabilities initially expressed in foreign currencies are converted 
each business day into U.S. dollars based upon current exchange rates. 
Purchases and sales of foreign investment securities and income and 
expenses are converted into U.S. dollars based upon currency exchange 
rates prevailing on the respective dates of such transactions. 
Recognized gains or losses on investment transactions attributable to 
foreign currency rates are recorded for financial statement purposes as 
net realized gains and losses on investments. That portion of unrealized 
gains and losses on investments that result from fluctuations in foreign 
currency exchange rates are not separately disclosed.

F. Forward Foreign Currency Exchange Contracts - The Portfolio may enter 
into forward foreign currency exchange contracts for the purchase or 
sale of a specific foreign currency at a fixed price on a future date. 
Risks may arise upon entering these contracts from the potential 
inability of counterparties to meet the terms of their contracts and 
from movements in the value of a foreign currency relative to the U.S. 
dollar. The Portfolio will enter into forward contracts for hedging 
purposes as well as non-hedging purposes. The forward foreign currency 
exchange contracts are adjusted by the daily exchange rate of the 
underlying currency and any gains or losses are recorded for financial 
statement purposes as unrealized until such time as the contracts have 
been closed or offset.

G. Other - Investment transactions are accounted for on the date the 
investments are purchased or sold. Dividend income is recorded on the 
ex-dividend date. However, if the ex-dividend date has passed, certain 
dividends from foreign securities are recorded as the Portfolio is 
informed of the ex-dividend date. Interest income is recorded on the 
accrual basis.

H. Interim Financial Information - The interim financial statements 
relating to February 29, 1996 and for the period then ended have not 
been audited by independent certified public accountants, but in the 
opinion of the Portfolio's management, reflect all adjustments, 
consisting only of normal recurring adjustments, necessary for the fair 
presentation of the financial statements.

(2) Investment Adviser Fee and Other Transactions with Affiliates

The investment adviser fee is earned by Boston Management and Research 
(BMR) a wholly-owned subsidiary of Eaton Vance Management (EVM) and 
Lloyd George Investment Management (Bermuda) Limited, an affiliate of 
EVM, (the Advisers) as compensation for management and investment 
advisory services rendered to the Portfolio. Under the advisory 
agreement, the Advisers receive a monthly fee, divided equally between 
them, of 0.0625% (0.75% annually) of the average daily net assets of the 
Portfolio up to $500,000,000, and at reduced rates as daily net assets 
exceed that level. For the period from the start of business, September 
18, 1995 to February 29, 1996 the adviser fee was 0.75% of average net 
assets. In addition, an administrative fee is earned by EVM for managing 
and administering the business affairs of the Portfolio. Under the 
administration agreement, EVM earns a monthly fee in the amount of 
1/48th of 1% (equal to 0.25% annually) of the average daily net assets 
of the Portfolio up to $500,000,000, and at reduced rates as daily net 
assets exceed that level. For the period from the start of business, 
September 18, 1995 to February 29, 1996, the administration fee was 
0.25% of average net assets. Except as to Trustees of the Portfolio who 
are not members of the Advisers or EVM's organization, officers and 
Trustees receive remuneration for their services to the Portfolio out of 
such investment adviser and administrative fees. Investors Bank & Trust 
Company (IBT) serves as custodian of the Portfolio. Prior to November 
10, 1995, IBT was an affiliate of EVM and BMR. Pursuant to the custodian 
agreement, IBT receives a fee reduced by credits which are determined 
based on the average daily cash balance the Portfolio maintains with 
IBT. No significant credit balances were used to reduce the Porfolio's 
custody fees. Certain of the officers and Trustees of the Portfolio are 
officers or directors/trustees of the above organizations.

(3) Investment Transactions

Purchases and sales of investments, other than short-term obligations, 
aggregated $31,185,752  and $3,648,417, respectively.

(4) Federal Income Tax Basis of Investments

The cost and unrealized appreciation (depreciation) in value of the 
investments owned at February 29, 1996, as computed on a federal income 
tax basis, are as follows:

Aggregate cost                                $30,115,527
                                              ===========
Gross unrealized appreciation                  $1,790,271
Gross unrealized depreciation                     659,358
                                              -----------
Net unrealized appreciation                    $1,130,913
                                              ===========

(5) Risks Associated with Foreign Investments

Investing in securities issued by companies whose principal business 
activities are outside the United States may involve significant risks 
not present in domestic investments. For example, there is generally 
less publicly available information about foreign companies, 
particularly those not subject to the disclosure and reporting 
requirements of the U.S. securities laws. Foreign issuers are generally 
not bound by uniform accounting, auditing, and financial reporting 
requirements and standards of practice comparable to those applicable to 
domestic issuers. Investments in foreign securities also involve the 
risk of possible adverse changes in investment or exchange control 
regulations, expropriation or confiscatory taxation, limitation on the 
removal of funds or other assets of the Portfolio, political or 
financial instability or diplomatic and other developments which could 
affect such investments. Foreign stock markets, while growing in volume 
and sophistication, are generally not as developed as those in the 
United States, and securities of some foreign issuers (particularly 
those located in developing countries) may be less liquid and more 
volatile than securities of comparable U.S. companies. In general, there 
is less overall governmental supervision and regulation of foreign 
securities markets, broker-dealers, and issuers than in the United 
States.

(6) Financial Instruments

The Portfolio regularly trades in financial instruments with off-balance 
sheet risk in the normal course of its investing activities to assist in 
managing exposure to various market risks. These financial instruments 
include written options, forward foreign currency exchange contracts and 
financial futures contracts and may involve, to a varying degree, 
elements of risk in excess of the amounts recognized for financial 
statement purposes.

The notional or contractual amounts of these instruments represent the 
investment the Portfolio has in particular classes of financial instruments 
and does not necessarily represent the amounts potentially subject to risk. 
The measurement of the risks associated with these instruments is meaningful 
only when all related and offsetting transactions are considered.

The Portfolio did not have any open obligations under these financial 
instruments at February 29, 1996.

(7) Line of Credit

The Portfolio participates with other portfolios and funds managed by 
BMR and EVM and its affiliates in a $120 million unsecured line of 
credit agreement with a bank. The line of credit consists of a $20 
million committed facility and a $100 million discretionary facility. 
Borrowings will be made by the Portfolio solely to facilitate the 
handling of unusual and/or unanticipated short-term cash requirements. 
Interest is charged to each portfolio based on its borrowings at an 
amount above either the bank's adjusted certificate of deposit rate, a 
variable adjusted certificate of deposit rate, or a federal funds 
effective rate. In addition, a fee computed at an annual rate of 1/4 of 
1% on the $20 million committed facility and on the daily unused portion 
of the $100 million discretionary facility is allocated among the 
participating funds and portfolios at the end of each quarter. The 
Portfolio did not have any significant borrowings or allocated fees 
during the period.

EV Marathon
Information 
Age Fund


Officers

James B. Hawkes
President and Trustee

M. Dozier Gardner
Vice President

William D. Burt
Vice President

Barclay Tittmann
Vice President

James L. O'Connor
Treasurer

Thomas Otis
Secretary


Independent Trustees

Donald R. Dwight
President, Dwight Partners, Inc.
Chairman, Newspapers of New England, Inc.

Samuel L. Hayes, III
Jacob H. Schiff Professor of Investment Banking, 
Harvard University Graduate School of Business Administration

Norton H. Reamer
President and Director, United Asset 
Management Corporation

John L. Thorndike
Director, Fiduciary Company Incorporated

Jack L. Treynor
Investment Adviser and Consultant


Information
Age Portfolio

Officers

James B. Hawkes
President and Trustee

William Chisholm
Vice President

Michel Normandeau
Vice President

Raymond O'Neill
Vice President

Duncan W. Richardson
Vice President

Hon. Robert Lloyd George
Vice President

James L. O'Connor
Treasurer

Thomas Otis
Secretary


Independent Trustees

Donald R. Dwight
President, Dwight Partners, Inc.
Chairman, Newspapers of New England, Inc.

Samuel L. Hayes, III
Jacob H. Schiff Professor of Investment Banking, 
Harvard University Graduate School of Business Administration

Norton H. Reamer
President and Director, United Asset 
Management Corporation

John L. Thorndike
Director, Fiduciary Company Incorporated

Jack L. Treynor
Investment Adviser and Consultant





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