Eaton Vance Prime Rate Reserves
EV Classic Senior Floating-Rate Fund
Supplement
to Prospectuses dated May 1, 1996
1. Under the section entitled "Management of the
Fund and the Portfolio," the following paragraph
replaces the existing paragraph identifying the
portfolio manager:
Scott H. Page and Payson F. Swaffield are the co-
portfolio managers of the Portfolio. Mr. Page has been
a Vice President of Eaton Vance and BMR since 1992
and an employee of Eaton Vance since 1989. Mr.
Swaffield has been a Vice President of Eaton Vance and
BMR since 1992 and an employee of Eaton Vance since
1990.
2. Effective September 1, 1996, the following is an
addition to the section "Early Withdrawal":
No early withdrawal charge will be imposed on
Fund shares sold to Eaton Vance, or its affiliates, or
to their respective employees or clients. The early
withdrawal charge will also be waived for shares
repurchased as part of a required distribution from a
tax-sheltered retirement plan, provided that the
aggregate amount of such repurchase does not exceed 12%
of the account balance.
August 7, 1996 PRSFRPS
