Eaton Vance California Municipal Bond Fund II Report of Earnings

BOSTON, June 8 /PRNewswire-FirstCall/ -- Eaton Vance California Municipal Bond Fund II (NYSE Amex: EIA) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three and six-month periods ended March 31, 2010.  The Fund's fiscal year ends on September 30, 2010.

For the three months ended March 31, 2010, the Fund had net investment income of $890,042 ($0.230 per common share).  From this amount, the Fund paid dividends on preferred shares of $21,419 (equal to $0.006 for each common share), resulting in net investment income after the preferred dividends of $868,623, or $0.224 per common share. The Fund's net investment income for the six months ended March 31, 2010 was $1,771,124 ($0.458 per common share, before deduction of the preferred share dividends totaling $0.013 per common share), resulting in net investment income after the preferred dividends of $0.445 per common share. In comparison, for the three months ended March 31, 2009, the Fund had net investment income of $848,944 ($0.220 per common share).  From this amount, the Fund paid dividends on preferred shares of $51,795 (equal to $0.013 for each common share), resulting in net investment income after the preferred dividends of $797,149, or $0.207 per common share. The Fund's net investment income for the six months ended March 31, 2009 was $1,671,364 ($0.433 per common share, before deduction of the preferred share dividends totaling $0.066 per common share), resulting in net investment income after the preferred dividends of $0.367 per common share.

Net realized and unrealized gains for the three months ended March 31, 2010 were $316,997 ($0.088 per common share). The Fund's net realized and unrealized losses for the six months ended March 31, 2010 were $4,196,632 ($1.078 per common share). In comparison, net realized and unrealized gains for the three months ended March 31, 2009 were $3,274,799 ($0.852 per common share). The Fund's net realized and unrealized losses for the six months ended March 31, 2009 were $4,377,327 ($1.128 per common share).

On March 31, 2010, net assets of the Fund applicable to common shares were $45,977,344. The net asset value per common share on March 31, 2010 was $11.88 based on 3,871,379 common shares outstanding.  In comparison, on March 31, 2009, net assets of the Fund applicable to common shares were $39,380,144.  The net asset value per common share on March 31, 2009 was $10.19 based on 3,864,926 common shares outstanding.

The Fund 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 $176.2 billion in assets as of April 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

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