Eaton Vance Ohio Municipal Bond Fund* Report of Earnings

BOSTON, March 3 /PRNewswire-FirstCall/ -- Eaton Vance Ohio Municipal Bond Fund (NYSE Amex: EIO) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months ended December 31, 2009.  The Fund's fiscal year ends on September 30, 2010.

For the three months ended December 31, 2009, the Fund had net investment income of $523,985 ($0.208 per common share).  From this amount, the Fund paid dividends on preferred shares of $18,434 (equal to $0.007 for each common share), resulting in net investment income after the preferred dividends of $505,551, or $0.201 per common share. In comparison, for the three months ended December 31, 2008, the Fund had net investment income of $566,587 ($0.225 per common share).  From this amount, the Fund paid dividends on preferred shares of $173,028 (equal to $0.069 for each common share), resulting in net investment income after the preferred dividends of $393,559, or $0.156 per common share.

Net realized and unrealized losses for the three months ended December 31, 2009 were $1,265,969 ($0.502 per common share). In comparison, net realized and unrealized losses for the three months ended December 31, 2008 were $5,807,424 ($2.310 per common share).

On December 31, 2009, net assets of the Fund applicable to common shares were $31,501,387.  The net asset value per common share on December 31, 2009 was $12.49 based on 2,521,327 common shares outstanding.  In comparison, on December 31, 2008, net assets of the Fund applicable to common shares were $22,683,737.  The net asset value per common share on December 31, 2008 was $9.02 based on 2,514,554 common shares outstanding.

The Funds are 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 $161.6 billion in assets as of January 31, 2010 offering individuals and institutions a broad array of investment products 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.

* Effective February 1, 2010, the name of the Fund was changed from Eaton Vance Insured Ohio Municipal Bond Fund.

    
    
    
                    EATON VANCE OHIO MUNICIPAL BOND FUND*
                      SUMMARY OF RESULTS OF OPERATIONS
                  (in thousands, except per share amounts)
    
                                               Three Months     Three Months
                                                  Ended            Ended
                                               December 31,     December 31,
                                               ------------     ------------
                                                   2009              2008
                                                   ----              ----
    Net investment income                          $524              $567
    Net realized and unrealized gains 
     (losses) on investments                     (1,266)           (5,807)
    Preferred dividends paid from net 
     investment income (1)                          (18)             (173)
                                                    ---              ----
        Net increase (decrease) in net assets
         from operations                          $(760)          $(5,413)
                                                  =====           =======
    
    Earnings per Common Share Outstanding
    -------------------------------------
    Net investment income                        $0.208            $0.225
    Net realized and unrealized gains 
     (losses) on investments                     (0.502)           (2.310)
    Preferred dividends paid from net 
     investment income (1)                       (0.007)           (0.069)
                                                 ------            ------
        Net increase (decrease) in net assets
         from operations                        $(0.301)          $(2.154)
                                                =======           =======
    
    Net investment income                        $0.208            $0.225
    Preferred dividends paid from net 
     investment income (1)                       (0.007)           (0.069)
                                                 ------            ------
    Net investment income after preferred
     dividends                                   $0.201            $0.156
                                                 ======            ======
    
    Net Asset Value at December 31 
     (Common Shares)
    ------------------------------
        Net assets                              $31,501           $22,684
        Shares outstanding                        2,521             2,515
        Net asset value per share outstanding    $12.49             $9.02
    
    Market Value Summary (Common Shares)
    ------------------------------------
        Market price on NYSE Amex at
         December 31                             $12.30             $9.30
        High market price (period ended 
         December 31)                            $13.82            $12.25
        Low market price (period ended 
         December 31)                            $12.21             $6.70
    
    (1) During the period ended December 31, 2008, the Fund made a partial
        redemption of its preferred shares.
     *  Effective February 1, 2010, the name of the Fund was changed from
        Eaton Vance Insured Ohio Municipal Bond Fund.
    

SOURCE Eaton Vance Management