I have a custom except function I use all the time, it will cut off in the middle of a sentence, but it works great. Just drop this baby into your functions.php and then <?php the_excerpt_truncate(100); ?>
just change the 100 to your desired character limit.
// THE EXCERPT MAX CHAR
function the_excerpt_truncate($charlength) {
$excerpt = get_the_excerpt();
$charlength++;
if ( mb_strlen( $excerpt ) > $charlength ) {
$subex = mb_substr( $excerpt, 0, $charlength - 5 );
$exwords = explode( ' ', $subex );
$excut = - ( mb_strlen( $exwords[ count( $exwords ) - 1 ] ) );
if ( $excut < 0 ) {
echo mb_substr( $subex, 0, $excut );
} else {
echo $subex;
}
echo '...';
} else {
echo $excerpt;
}
}