Eaton Vance California Municipal Income Trust Report of Earnings

BOSTON, July 22, 2011 /PRNewswire/ -- Eaton Vance California Municipal Income Trust (NYSE Amex: CEV) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three and six-month periods ended May 31, 2011.  The Trust's fiscal year ends on November 30, 2011.

For the three months ended May 31, 2011, the Trust had net investment income of $1,695,968 ($0.234 per common share).  From this amount, the Trust paid dividends on preferred shares of $46,798 (equal to $0.007 for each common share), resulting in net investment income after the preferred dividends of $1,649,170, or $0.227 per common share. The Trust's net investment income for the six months ended May 31, 2011 was $3,454,767 ($0.478 per common share, before deduction of the preferred share dividends totaling $0.014 per common share), resulting in net investment income after the preferred dividends of $0.464 per common share. In comparison, for the three months ended May 31, 2010, the Trust had net investment income of $1,739,209 ($0.242 per common share).  From this amount, the Trust paid dividends on preferred shares of $53,273 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $1,685,936, or $0.234 per common share. The Trust's net investment income for the six months ended May 31, 2010 was $3,447,752 ($0.479 per common share, before deduction of the preferred share dividends totaling $0.014 per common share), resulting in net investment income after the preferred dividends of $0.465 per common share.

Net realized and unrealized gains for the three months ended May 31, 2011 were $3,956,447 ($0.542 per common share). The Trust's net realized and unrealized losses for the six months ended May 31, 2011 were $3,358,423 ($0.471 per common share). In comparison, net realized and unrealized gains for the three months ended May 31, 2010 were $1,709,311 ($0.239 per common share). The Trust's net realized and unrealized gains for the six months ended May 31, 2010 were $4,345,630 ($0.605 per common share).

On May 31, 2011, net assets of the Trust applicable to common shares were $86,292,133.  The net asset value per common share on May 31, 2011 was $11.94 based on 7,227,120 common shares outstanding.  In comparison, on May 31, 2010, net assets of the Trust applicable to common shares were $93,252,012. The net asset value per common share on May 31, 2010 was $12.96 based on 7,195,830 common shares outstanding.

The Trust periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors – Closed-End Funds").  Trust portfolio holdings for the most recent calendar quarter-end are also posted to the website approximately 30 days following quarter-end.

The Trust is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $200.0 billion in assets as of June 30, 2011, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors.  For more information about Eaton Vance, visit www.eatonvance.com.

SOURCE Eaton Vance Management

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