Eaton Vance Massachusetts Municipal Bond Fund Report Of Earnings

BOSTON, July 10, 2014

For the three months ended March 31, 2014, the Fund had net investment income of $349,343 ($0.197 per common share).  From this amount, the Fund paid dividends on preferred shares of $3,028 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $346,315, or $0.195 per common share. The Fund's net investment income for the six months ended March 31, 2014 was $695,838 ($0.393 per common share, before deduction of the preferred share dividends totaling $0.004 per common share), resulting in net investment income after the preferred dividends of $0.389 per common share. In comparison, for the three months ended March 31, 2013, the Fund had net investment income of $348,176 ($0.197 per common share).  From this amount, the Fund paid dividends on preferred shares of $5,749 (equal to $0.004 for each common share), resulting in net investment income after the preferred dividends of $342,427, or $0.193 per common share. The Fund's net investment income for the six months ended March 31, 2013 was $704,823 ($0.399 per common share, before deduction of the preferred share dividends totaling $0.009 per common share), resulting in net investment income after the preferred dividends of $0.390 per common share.

Net realized and unrealized gains for the three months ended March 31, 2014 were $1,659,018 ($0.932 per common share). The Fund's net realized and unrealized gains for the six months ended March 31, 2014 were $1,426,527 ($0.801 per common share). In comparison, net realized and unrealized losses for the three months ended March 31, 2013 were $578,721 ($0.328 per common share). The Fund's net realized and unrealized losses for the six months ended March 31, 2013 were $871,272 ($0.493 per common share).

On March 31, 2014, net assets of the Fund applicable to common shares were $25,368,196. The net asset value per common share on March 31, 2014 was $14.34 based on 1,768,514 common shares outstanding. In comparison, on March 31, 2013, net assets of the Fund applicable to common shares were $27,248,164. The net asset value per common share on March 31, 2013 was $15.41 based on 1,768,514 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 month-end are also posted to the website approximately 30 days following month-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 $285.9 billion in assets as of April 30, 2014 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.