Eaton Vance Municipal Income Trust Report of Earnings

BOSTON, July 28 /PRNewswire/ -- Eaton Vance Municipal Income Trust (NYSE: EVN) (the "Trust"), a diversified closed-end management investment company, today announced the earnings of the Trust for the three and six-months ended May 31, 2010.  The Trust's fiscal year ends on November 30, 2010.

For the three months ended May 31, 2010, the Trust had net investment income of $5,832,805 ($0.258 per common share).  From this amount, the Trust paid dividends on preferred shares of $125,984 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $5,706,821 or $0.253 per common share. The Trust's net investment income for the six months ended May 31, 2010 was $11,566,830 ($0.513 per common share, before deduction of the preferred share dividends totaling $0.010 per common share), resulting in net investment income after the preferred dividends of $0.503 per common share. In comparison, for the three months ended May 31, 2009, the Trust had net investment income of $4,250,430 ($0.242 per common share).  From this amount, the Trust paid dividends on preferred shares of $180,239 (equal to $0.011 for each common share), resulting in net investment income after the preferred dividends of $4,070,191 or $0.231 per common share. The Trust's net investment income for the six months ended May 31, 2009 was $8,244,715 ($0.473 per common share, before deduction of the preferred share dividends totaling $0.026 per common share), resulting in net investment income after the preferred dividends of $0.447 per common share.  

Net realized and unrealized gains for the three months ended May 31, 2010 were $3,666,358 ($0.162 per common share). The Trust's net realized and unrealized gains for the six months ended May 31, 2010 were $14,754,648 ($0.655 per common share). In comparison, net realized and unrealized gains for the three months ended May 31, 2009 were $15,895,459 ($0.875 per common share). The Trust's net realized and unrealized gains for the six months ended May 31, 2009 were $25,389,294 ($1.423 per common share).

On May 31, 2010, net assets of the Trust applicable to common shares were $260,247,646. The net asset value per common share on May 31, 2010 was $11.53 based on 22,565,406 common shares outstanding. In comparison, on May 31, 2009, net assets of the Trust applicable to common shares were $214,064,827. The net asset value per common share on May 31, 2009 was $9.56 based on 22,403,399 common shares outstanding.

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 $165.4 billion in assets as of June 30, 2010, 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