Eaton Vance Pennsylvania Municipal Income Trust Report of Earnings

BOSTON, Jan. 31, 2012 /PRNewswire/ -- Eaton Vance Pennsylvania Municipal Income Trust (NYSE Amex: EVP) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three months and year ended November 30, 2011.  The Trust's fiscal year ended on November 30, 2011.

For the three months ended November 30, 2011, the Trust had net investment income of $546,034 ($0.201 per common share).  From this amount, the Trust paid dividends on preferred shares of $12,219 (equal to $0.004 for each common share), resulting in net investment income after the preferred dividends of $533,815, or $0.197 per common share. The Trust's net investment income for the year ended November 30, 2011 was $2,370,308 ($0.873 per common share, before deduction of the preferred share dividends totaling $0.024 per common share), resulting in net investment income after the preferred dividends of $0.849 per common share. In comparison, for the three months ended November 30, 2010, the Trust had net investment income of $620,565 ($0.229 per common share).  From this amount, the Trust paid dividends on preferred shares of $22,113 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $598,452, or $0.221 per common share. The Trust's net investment income for the year ended November 30, 2010 was $2,472,980 ($0.912 per common share, before deduction of the preferred share dividends totaling $0.032 per common share), resulting in net investment income after the preferred dividends of $0.880 per common share.  

Net realized and unrealized losses for the three months ended November 30, 2011 were $230,358 ($0.089 per common share). The Trust's net realized and unrealized losses for the year ended November 30, 2011 were $156,264 ($0.062 per common share). In comparison, net realized and unrealized losses for the three months ended November 30, 2010 were $2,169,272 ($0.798 per common share). The Trust's net realized and unrealized losses for the year ended November 30, 2010 were $175,537 ($0.063 per common share).

On November 30, 2011, net assets of the Trust applicable to common shares were $36,010,989. The net asset value per common share on November 30, 2011 was $13.25 based on 2,717,198 common shares outstanding. In comparison, on November 30, 2010, net assets of the Trust applicable to common shares were $36,210,406. The net asset value per common share on November 30, 2010 was $13.33 based on 2,716,608 common shares outstanding.

The Trust 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").  Trust portfolio holdings for the most recent calendar quarter-end are also posted to the website approximately 30 days following quarter-end.

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 $184.5 billion in assets as of December 31, 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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