Eaton Vance Ohio Municipal Bond Fund Report of Earnings

BOSTON, June 10, 2011 /PRNewswire/ -- 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 and six-month periods ended March 31, 2011.  The Fund's fiscal year ends on September 30, 2011.

For the three months ended March 31, 2011, the Fund had net investment income of $536,233 ($0.212 per common share).  From this amount, the Fund paid dividends on preferred shares of $16,993 (equal to $0.007 for each common share), resulting in net investment income after the preferred dividends of $519,240, or $0.205 per common share. The Fund's net investment income for the six months ended March 31, 2011 was $1,046,070 ($0.414 per common share, before deduction of the preferred share dividends totaling $0.014 per common share), resulting in net investment income after the preferred dividends of $0.400 per common share. In comparison, for the three months ended March 31, 2010, the Fund had net investment income of $532,191 ($0.211 per common share).  From this amount, the Fund paid dividends on preferred shares of $14,476 (equal to $0.006 for each common share), resulting in net investment income after the preferred dividends of $517,715, or $0.205 per common share. The Fund's net investment income for the six months ended March 31, 2010 was $1,056,176 ($0.419 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 $0.406 per common share.

Net realized and unrealized losses for the three months ended March 31, 2011 were $573,973 ($0.232 per common share). The Fund's net realized and unrealized losses for the six months ended March 31, 2011 were $4,900,166 ($1.944 per common share). In comparison, net realized and unrealized losses for the three months ended March 31, 2010 were $324,261 ($0.128 per common share). The Fund's net realized and unrealized losses for the six months ended March 31, 2010 were $1,590,230 ($0.630 per common share).

On March 31, 2011, net assets of the Fund applicable to common shares were $27,891,540.  The net asset value per common share on March 31, 2011 was $11.03 based on 2,528,702 common shares outstanding.  In comparison, on March 31, 2010, net assets of the Fund applicable to common shares were $31,227,458.  The net asset value per common share on March 31, 2010 was $12.38 based on 2,522,366 common shares outstanding.

The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors – Closed-End Funds").  Fund portfolio holdings for the most recent calendar quarter-end are also posted to the website approximately 30 days following quarter-end.  

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 $203.0 billion in assets as of April 30, 2011 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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