Eaton Vance California Municipal Bond Fund Report of Earnings

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

For the three months ended June 30, 2010, the Fund had net investment income of $4,554,844 ($0.209 per share). For the nine months ended June 30, 2010, the Fund had net investment income of $13,895,439 ($0.640 per share).  In comparison, for the three months ended June 30, 2009, the Fund had net investment income of $4,675,009 ($0.216 per share). For the nine months ended June 30, 2009, the Fund had net investment income of $13,242,411 ($0.611 per share).

Net realized and unrealized gains for the three months ended June 30, 2010 were $1,352,568 ($0.063 per share). Net realized and unrealized losses for the nine months ended June 30, 2010 were $21,850,475 ($1.007 per share). In comparison, net realized and unrealized gains for the three months ended June 30, 2009 were $8,839,408 ($0.410 per share). Net realized and unrealized losses for the nine months ended June 30, 2009 were $9,463,691 ($0.437 per share).

On June 30, 2010, net assets of the Fund were $259,280,104.  The net asset value per share on June 30, 2010 was $11.94 based on 21,708,136 shares outstanding.  In comparison, on June 30, 2009, net assets of the Fund were $236,742,718.  The net asset value per share on June 30, 2009 was $10.92 based on 21,681,982 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 $173.3 billion in assets as of July 31, 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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