BOSTON, Feb. 11 /PRNewswire-FirstCall/ -- Eaton Vance Ohio Municipal Income Trust (NYSE Alternext US: EVO) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three months and year ended November 30, 2008. The Trust's fiscal year ended on November 30, 2008. For the three months ended November 30, 2008, the Trust had net investment income of $673,193 ($0.238 per common share). From this amount, the Trust paid dividends on preferred shares of $265,604 (equal to $0.093 for each common share), resulting in net investment income after the preferred dividends of $407,589, or $0.145 per common share. The Trust's net investment income for the year ended November 30, 2008 was $2,719,400 ($0.961 per common share, before deduction of the preferred share dividends totaling $0.303 per common share), resulting in net investment income after the preferred dividends of $0.658 per common share. In comparison, for the three months ended November 30, 2007, the Trust had net investment income of $674,198 ($0.239 per common share). From this amount, the Trust paid dividends on preferred shares of $214,691 (equal to $0.076 for each common share), resulting in net investment income after the preferred dividends of $459,507, or $0.163 per common share. The Trust's net investment income for the year ended November 30, 2007 was $2,652,615 ($0.938 per common share, before deduction of the preferred share dividends totaling $0.297 per common share), resulting in net investment income after the preferred dividends of $0.641 per common share Net realized and unrealized losses for the three months ended November 30, 2008 were $8,933,603 ($3.158 per common share). The Trust's net realized and unrealized losses for the year ended November 30, 2008 were $12,475,238 ($4.410 per common share). In comparison, net realized and unrealized gains for the three months ended November 30, 2007 were $392,713 ($0.138 per common share). The Trust's net realized and unrealized losses for the year ended November 30, 2007 were $2,389,214 ($0.845 per common share). On November 30, 2008, net assets of the Trust applicable to common shares were $29,562,955. The net asset value per common share on November 30, 2008 was $10.45 based on 2,829,304 common shares outstanding. In comparison, on November 30, 2007, net assets of the Trust applicable to common shares were $41,953,274. The net asset value per common share on November 30, 2007 was $14.83 based on 2,829,304 common shares outstanding 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 $124.9 billion in assets as of December 31, 2008 offering individuals and institutions a broad array of financial products and wealth solutions including mutual funds, managed accounts, variable trusts and charitable giving services. A combination of tradition, proven long-term performance and more than 80 years of experience have made Eaton Vance the investment manager of choice for many investors. For more information about Eaton Vance, visit http://www.eatonvance.com/. EATON VANCE OHIO MUNICIPAL INCOME TRUST SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended Year Ended November 30, November 30, ------------- ------------ 2008 2007 2008 2007 ---- ---- ---- ---- Net investment income $673 $674 $2,719 $2,653 Net realized and unrealized gains (losses) on investments (8,934) 393 (12,475) (2,389) Preferred dividends paid from net investment income (1) (266) (215) (859) (840) ---- ---- ---- ---- Net increase (decrease) in net assets from operations $(8,527) $852 $(10,615) $(576) ======= ==== ======== ===== Earnings per Common Share Outstanding ------------------------------------- Net investment income $0.238 $0.239 $0.961 $0.938 Net realized and unrealized gains (losses) on investments (3.158) 0.138 (4.410) (0.845) Preferred dividends paid from net investment income (1) (0.093) (0.076) (0.303) (0.297) ------ ------ ------ ------ Net increase (decrease) in net assets from operations $(3.013) $0.301 $(3.752) $(0.204) ======= ====== ======= ======= Net investment income $0.238 $0.239 $0.961 $0.938 Preferred dividends paid from net investment income (1) (0.093) (0.076) (0.303) (0.297) ------ ------ ------ ------ Net investment income after preferred dividends $0.145 $0.163 $0.658 $0.641 ====== ====== ====== ====== Net Asset Value at November 30 (Common Shares) ------------------------------ Net assets $29,563 $41,953 Shares outstanding 2,829 2,829 Net asset value per share outstanding $10.45 $14.83 Market Value Summary (Common Shares) ------------------------------------ Market price on NYSE Alternext US at November 30 $8.55 $12.85 High market price (period ended November 30) $13.73 $15.35 Low market price (period ended November 30) $7.40 $12.52 (1) During the year ended November 30, 2008, the Trust made a partial redemption of its preferred shares. DATASOURCE: Eaton Vance Management CONTACT: Investors, Eaton Vance, +1-800-262-1122 Web Site: http://www.eatonvance.com/

Copyright