Went to the product page for the mobo and checked the supported CPU list. Does not show the E4500, but does show the E4400. Is the E4400 the same M0 stepping as the E4500...can't recall off the top of my head.
Checked for BIOS updates on their site and there are none for your board.
Downloaded the manual so I can offer some suggestions, plus I requested info at the end of the post which is needed in order to continue.
Suggestions:
1) Begin pg# 61 of manual - CPU Feature
a) Disable C1E and Virtualization
b) Could not find where to disable Speedstep, but do so if you can find it. May not be
an option on VIA chipset.
2) Begin pg# 85 of manual - Performance Booster Zone
a) DRAM Clock/Drive Strength - since your rams are DDR2-533, choose 266 (DDR533
or 1:1 memory ratio)
You might try out 333 (DDR667, which would be the equivalent of the4:5vider).
This is where you would be overclocking your rams (as per your question).
b) Leave DRAM timings at SPD for now, or if you wish, set to Manual and select loose
timings for now. It does appear that timing choices are limited, which is why I said to
go with the SPD setting. Do note the timings reported by SPD for future reference.
There appear to be some more choices, but the download manual I have stops at page #86. Here are some more options on that Performance Booster Zone that are not explained.
CPU Clock - it appears to default at 100MHz which would explain the low clocks you were showing. Look for a setting of 200MHz, if you haven't already. This might also be where you would increase it to reach your goal of 2.8GHz (255 x 11 multi or 280 x 10 multi).
Async PCIE Clk - What are your choices here...you want to be able to lock it at 100 if possible.
DDR Voltage - what are your choices. Leave at default (s/b 1.8v) for now, but if going with the DDR667 setting in DRAM Clock, then you might want to bump it up if instability is an issue (check memory with Memtest86+).
CPU Clock Ratio - Set manually to E4500's 11 default.
Setting FSB - Could not find (or overlooked) where you would increase it to reach your goal of 2.8GHz (255 x 11 multi or 280 x 10 multi). Saw it in the Software overclocking option called Warpspeeder, but not in BIOS. See if you can find it because it is usually better to do this stuff in BIOS.
Hope that helps some and I'll check back with you later, either today or tomorrow, depending on my schedule. I'm sure that others will be able to add to this, as well.
Good luck.