EV MARATHON EMERGING MARKETS FUND
EV TRADITIONAL EMERGING MARKETS FUND
EV MARATHON GREATER INDIA FUND
EV TRADITIONAL GREATER INDIA FUND
EV CLASSIC INVESTORS FUND
EV MARATHON INVESTORS FUND
EV TRADITIONAL INVESTORS FUND
EV CLASSIC SPECIAL EQUITIES FUND
EV MARATHON SPECIAL EQUITIES FUND
EV TRADITIONAL SPECIAL EQUITIES FUND
EV CLASSIC STOCK FUND
EV MARATHON STOCK FUND
EV TRADITIONAL STOCK FUND
EV CLASSIC TOTAL RETURN FUND
EV MARATHON TOTAL RETURN FUND
EV TRADITIONAL TOTAL RETURN FUND
SUPPLEMENT TO PROSPECTUSES DATED MAY 1, 1997
1. For the TRADITIONAL FUNDS listed above, effective September 1, 1997, under
the table "Shareholder and Fund Expenses" the Maximum Sales Charge Imposed on
Purchases is 5.75%. As a result, in the EXAMPLE section of the table the
expenses paid by a shareholder would be slightly higher.
2. For the TRADITIONAL FUNDs listed above, effective September 1, 1997, the
sales charge table under "How to Buy Fund Shares" is replaced (except for the
footnotes) with the following:
<TABLE>
Sales Charge Sales Charge Dealer Commission
as Percentage of as Percentage of as Percentage of
Amount of Purchase Offering Price Amount Invested Offering Price
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Less than $50,000 5.75% 6.10% 5.00%
$50,000 but less than $100,000 4.75 4.99 4.00
$100,000 but less than $250,000 3.75 3.90 3.00
$250,000 but less than $500,000 3.00 3.09 2.50
$500,000 but less than $1,000,000 2.00 2.04 1.75
$1,000,000 or more 0.00* 0.00* See Below**
</TABLE>
3. Effective January 1, 1998, the Trustees have approved a restructuring of the
Funds whereby each Fund would become a separate class of the same series. It is
anticipated that this restructuring will reduce Fund expenses. In connection
with the restructuring, the existing "Classic" Funds will become "Class C"
shares, the "Marathon" Funds will become "Class B" shares and the "Traditional"
Funds will become "Class A" shares, respectively, of the following funds:
EATON VANCE EMERGING MARKETS FUND
EATON VANCE GREATER INDIA FUND
EATON VANCE INVESTORS FUND
EATON VANCE SPECIAL EQUITIES FUND
EATON VANCE STOCK FUND
EATON VANCE TOTAL RETURN FUND
<PAGE>
The conversion to the multiple-class structure will not be a taxable
transaction, change the value or cost basis of existing shareholders'
investments, or change fund net asset values per share. Likewise, the conversion
will not materially change shareholder voting rights. It is possible that some
shareholders could, in the future, receive different distributions of realized
capital gains than would be the case if the restructuring did not occur. This
result could occur because allocation of a Portfolio's current unrealized
capital gains will be different under multiple-class accounting rules than has
been the case under the partnership accounting rules of the current structure.
The actual realization of capital gains in the future remains uncertain and
depends not only on the investment adviser's decisions but also on the
fluctuating market valuation of specific securities. Because capital gains
distributions reduce the net asset value of a fund's shares, the effect of such
a distribution change would be to alter current tax obligations and tax
obligations upon redemption (by the same amount).
July 31, 1997 EQUITY1/1PS
