BOSTON, Aug. 3 /PRNewswire-FirstCall/ -- Eaton Vance Ohio Municipal Income Trust (NYSE Amex: EVO) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three and six-month periods ended May 31, 2009. The Trust's fiscal year ends on November 30, 2009. For the three months ended May 31, 2009, the Trust had net investment income of $681,212 ($0.241 per common share). From this amount, the Trust paid dividends on preferred shares of $41,362 (equal to $0.015 for each common share), resulting in net investment income after the preferred dividends of $639,850, or $0.226 per common share. The Trust's net investment income for the six months ended May 31, 2009 was $1,363,198 ($0.482 per common share, before deduction of the preferred share dividends totaling $0.036 per common share), resulting in net investment income after the preferred dividends of $0.446 per common share. In comparison, for the three months ended May 31, 2008, the Trust had net investment income of $679,150 ($0.240 per common share). From this amount, the Trust paid dividends on preferred shares of $199,220 (equal to $0.070 for each common share), resulting in net investment income after the preferred dividends of $479,930, or $0.170 per common share. The Trust's net investment income for the six months ended May 31, 2008 was $1,361,375 ($0.481 per common share, before deduction of the preferred share dividends totaling $0.152 per common share), resulting in net investment income after the preferred dividends of $0.329 per common share. Net realized and unrealized gains for the three months ended May 31, 2009 were $2,569,664 ($0.909 per common share). The Trust's net realized and unrealized gains for the six months ended May 31, 2009 were $5,711,935 ($2.020 per common share). In comparison, net realized and unrealized gains for the three months ended May 31, 2008 were $2,911,756 ($1.026 per common share). The Trust's net realized and unrealized losses for the six months ended May 31, 2008 were $2,037,187 ($0.723 per common share). On May 31, 2009, net assets of the Trust applicable to common shares were $35,503,192. The net asset value per common share on May 31, 2009 was $12.55 based on 2,829,304 common shares outstanding. In comparison, on May 31, 2008, net assets of the Trust applicable to common shares were $39,982,596. The net asset value per common share on May 31, 2008 was $14.13 based on 2,829,304 common shares outstanding. 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 $136.3 billion in assets as of June 30, 2009 offering individuals and institutions a broad array of investment products 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 http://www.eatonvance.com/. EATON VANCE OHIO MUNICIPAL INCOME TRUST SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended Six Months Ended May 31, May 31, ------- ------- 2009 2008 2009 2008 ---- ---- ---- ---- Net investment income $681 $679 $1,363 $1,361 Net realized and unrealized gains (losses) on investments 2,570 2,912 5,712 (2,037) Preferred dividends paid from net investment income (1) (41) (199) (101) (430) --- ---- ---- ---- Net increase (decrease) in net assets from operations $3,210 $3,392 $6,974 $(1,106) ====== ====== ====== ======= Earnings per Common Share Outstanding ------------------------------------- Net investment income $0.241 $0.240 $0.482 $0.481 Net realized and unrealized gains (losses) on investments 0.909 1.026 2.020 (0.723) Preferred dividends paid from net investment income (1) (0.015) (0.070) (0.036) (0.152) ------ ------ ------ ------ Net increase (decrease) in net assets from operations $1.135 $1.196 $2.466 $(0.394) ====== ====== ====== ======= Net investment income $0.241 $0.240 $0.482 $0.481 Preferred dividends paid from net investment income (1) (0.015) (0.070) (0.036) (0.152) ------ ------ ------ ------ Net investment income after preferred dividends $0.226 $0.170 $0.446 $0.329 ====== ====== ====== ====== Net Asset Value at May 31 (Common Shares) ----------------------------------------- Net assets $35,503 $39,983 Shares outstanding 2,829 2,829 Net asset value per share outstanding $12.55 $14.13 Market Value Summary (Common Shares) ------------------------------------ Market price on NYSE Amex at May 31 $12.35 $12.79 High market price (period ended May 31) $12.60 $13.73 Low market price (period ended May 31) $7.63 $12.36 (1) During the period ended May 31, 2009 and the year ended November 30, 2008, the Trust made a partial redemption of its preferred shares. DATASOURCE: Eaton Vance Management CONTACT: Investors, Eaton Vance Management, +1-800-262-1122 Web Site: http://www.eatonvance.com/

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