Eaton Vance Municipal Closed-End Funds Announce Proposed Mergers

BOSTON, April 26, 2018

Acquired Fund (Trading Symbol)	Acquiring Fund (Trading Symbol)
Eaton Vance California Municipal Bond Fund II (EIA)	Eaton Vance California Municipal Bond Fund (EVM)
Eaton Vance Massachusetts Municipal Bond Fund (MAB)	Eaton Vance Municipal Bond Fund (EIM) ARIVA.DE Börsen-Geflüster Kurse Eaton Vance -   0,00% EATON VANCE CALIFORNIA MUNICIP -   0,00% EATON VANCE CALIFORNIA MUNICIP 9,26 $ -0,86% Eaton Vance Insured Massachuse MUN BD FD -   0,00% Eaton Vance Insured Michigan MUN BD FD -   0,00% Eaton Vance Michigan Municipal -   0,00% Eaton Vance Municipal Bond Fund Common Shares of Beneficial Interest, $.01 par value 10,04 $ +0,30% EATON VANCE MUNICIPAL INCOME T 9,86 $ -0,20% EATON VANCE NEW YORK MUNICIPAL -   0,00% Eaton Vance York Municipal 9,49 $ +0,11%
Eaton Vance Michigan Municipal Bond Fund (MIW)	Eaton Vance Municipal Bond Fund (EIM)
Eaton Vance New York Municipal Bond Fund II (NYH)	Eaton Vance New York Municipal Bond Fund (ENX)
Eaton Vance Michigan Municipal Income Trust (EMI)	Eaton Vance Municipal Income Trust (EVN)

Each proposed merger is subject to approval by Acquired Fund shareholders at a Special Meeting of Shareholders scheduled for Friday, August 24, 2018.  Proxy materials containing information about the meeting and the proposed merger will be mailed to each Acquired Fund's common shareholders of record as of June 15, 2018.  Each Fund is a closed-end management investment company sponsored and managed by Eaton Vance Management.  Each Fund is listed on NYSE American, except for Eaton Vance Municipal Income Trust, which is listed on the New York Stock Exchange.

Each Acquired Fund has substantially identical investment objectives and policies as the associated Acquiring Fund, except that Eaton Vance Massachusetts Municipal Bond Fund, Eaton Vance Michigan Municipal Bond Fund and Eaton Vance Michigan Municipal Income Trust invest primarily in municipal bonds the interest on which is generally exempt from both federal income tax and state income tax in the designated state, whereas the Acquiring Funds invest primarily in municipal bonds the interest on which is generally exempt from federal income tax.  Additional information regarding the proposed mergers will be contained in the proxy materials.

Each merger is currently expected to be completed in the third calendar quarter of 2018, subject to required shareholder approvals and the satisfaction of applicable regulatory requirements and customary closing conditions.

If the mergers are approved, each Acquired Fund shareholder will be issued common shares of the associated Acquiring Fund at an exchange ratio based on the Funds' respective net asset values per share.

Eaton Vance Management is a subsidiary of Eaton Vance Corp. (NYSE: EV).  Eaton Vance is a leading global asset manager whose history dates to 1924. With offices in North America, Europe, Asia and Australia, Eaton Vance and its affiliates managed $433.9 billion in assets as of March 31, 2018, offering individuals and institutions a broad array of investment strategies and wealth management solutions. For more information about Eaton Vance, visit eatonvance.com.

Additional Information about the Funds and the Mergers

This press release is not intended to, and does not, constitute an offer to purchase or sell shares of the Funds; nor is this press release intended to solicit a proxy from any shareholder of the Funds. The solicitation of the purchase or sale of securities or proxies to effect each merger described herein will only be made by a final, effective registration statement, which will include a definitive joint proxy statement/prospectus, after the registration statement is declared effective by the Securities and Exchange Commission (the "SEC").

This press release references registration statements, which will include joint proxy statements/prospectuses, to be filed by each Acquiring Fund. These registration statements have yet to be filed with the SEC. After the registration statements are filed with the SEC, each may be amended or withdrawn.  The joint proxy statements/prospectuses will not be distributed to shareholders of the Acquired Funds unless and until the applicable registration statement is declared effective by the SEC.

The Funds and their trustees and officers, Eaton Vance Management and its officers and employees, and other persons may be deemed to be participants in the solicitation of proxies with respect to the mergers described herein. Investors and shareholders may obtain more detailed information regarding the direct and indirect interests of a Fund's trustees and officers, Eaton Vance Management and its officers and employees, and other persons by reading the joint proxy statement/prospectus relating to the applicable merger when it is filed with the SEC.

Investors and shareholders are urged to read the applicable joint proxy statement/prospectus and any other relevant documents when they become available because they will contain important information about the proposed mergers.  After they are filed, copies of the joint proxy statements/prospectuses will be available on the SEC's website at www.sec.gov.

Fund shares are subject to investment risk, including possible loss of principal invested.  No Fund is a complete investment program and you may lose money investing in a Fund.  An investment in a Fund may not be appropriate for all investors.  Additional information about the Funds, including performance and portfolio characteristic information, is available at www.eatonvance.com.

Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond a Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.

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SOURCE Eaton Vance Management