Eaton Vance California Municipal Income Trust Report of Earnings

BOSTON, Jan. 27, 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 months and year ended November 30, 2010.  The Trust's fiscal year ended on November 30, 2010.

For the three months ended November 30, 2010, the Trust had net investment income of $1,664,731 ($0.231 per common share).  From this amount, the Trust paid dividends on preferred shares of $53,779 (equal to $0.007 for each common share), resulting in net investment income after the preferred dividends of $1,610,952, or $0.224 per common share. The Trust's net investment income for the year ended November 30, 2010 was $6,802,191 ($0.945 per common share, before deduction of the preferred share dividends totaling $0.028 per common share), resulting in net investment income after the preferred dividends of $0.917 per common share. In comparison, for the three months ended November 30, 2009, the Trust had net investment income of $1,706,249 ($0.237 per common share).  From this amount, the Trust paid dividends on preferred shares of $55,106 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $1,651,143, or $0.229 per common share. The Trust's net investment income for the year ended November 30, 2009 was $6,809,366 ($0.947 per common share, before deduction of the preferred share dividends totaling $0.047 per common share), resulting in net investment income after the preferred dividends of $0.900 per common share.

Net realized and unrealized losses for the three months ended November 30, 2010 were $7,546,408 ($1.043 per common share). The Trust's net realized and unrealized gains for the year ended November 30, 2010 were $149,760 ($0.026 per common share). In comparison, net realized and unrealized gains for the three months ended November 30, 2009 were $2,553,698 ($0.356 per common share). The Trust's net realized and unrealized gains for the year ended November 30, 2009 were $16,670,718 ($2.321 per common share).

On November 30, 2010, net assets of the Trust applicable to common shares were $89,395,119.  The net asset value per common share on November 30, 2010 was $12.39 based on 7,217,856 common shares outstanding.  In comparison, on November 30, 2009, net assets of the Trust applicable to common shares were $88,720,283. The net asset value per common share on November 30, 2009 was $12.33 based on 7,195,830 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 $188.7 billion in assets as of December 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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