BOSTON, June 16 /PRNewswire-FirstCall/ -- Eaton Vance Insured Ohio Municipal Bond Fund (NYSE Amex: EIO) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three and six-month periods ended March 31, 2009. The Fund's fiscal year ends on September 30, 2009. For the three months ended March 31, 2009, the Fund had net investment income of $504,001 ($0.201 per common share). From this amount, the Fund paid dividends on preferred shares of $34,396 (equal to $0.013 for each common share), resulting in net investment income after the preferred dividends of $469,605, or $0.188 per common share. The Fund's net investment income for the six months ended March 31, 2009 was $1,070,588 ($0.426 per common share, before deduction of the preferred share dividends totaling $0.082 per common share), resulting in net investment income after the preferred dividends of $0.344 per common share. In comparison, for the three months ended March 31, 2008, the Fund had net investment income of $598,367 ($0.238 per common share). From this amount, the Fund paid dividends on preferred shares of $199,532 (equal to $0.080 for each common share), resulting in net investment income after the preferred dividends of $398,835, or $0.158 per common share. The Fund's net investment income for the six months ended March 31, 2008 was $1,198,414 ($0.477 per common share, before deduction of the preferred share dividends totaling $0.158 per common share), resulting in net investment income after the preferred dividends of $0.319 per common share. Net realized and unrealized gains for the three months ended March 31, 2009 were $3,116,867 ($1.242 per common share). The Fund's net realized and unrealized losses for the six months ended March 31, 2009 were $2,690,557 ($1.068 per common share). In comparison, net realized and unrealized losses for the three months ended March 31, 2008 were $3,612,159 ($1.433 per common share). The Fund's net realized and unrealized losses for the six months ended March 31, 2008 were $4,704,178 ($1.868 per common share). On March 31, 2009, net assets of the Fund applicable to common shares were $25,878,292. The net asset value per common share on March 31, 2009 was $10.28 based on 2,517,007 common shares outstanding. In comparison, on March 31, 2008, net assets of the Fund applicable to common shares were $32,938,902. The net asset value per common share on March 31, 2008 was $13.11 based on 2,513,365 common shares outstanding. The Funds are 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 $127.2 billion in assets as of April 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 INSURED OHIO MUNICIPAL BOND FUND SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended Six Months Ended March 31, March 31, --------- --------- 2009 2008 2009 2008 ---- ---- ---- ---- Net investment income $504 $598 $1,071 $1,198 Net realized and unrealized gains (losses) on investments 3,117 (3,612) (2,691) (4,704) Preferred dividends paid from net investment income (1) (34) (200) (207) (396) --- ---- ---- ---- Net increase (decrease) in net assets from operations $3,587 $(3,214) $(1,827) $(3,902) ====== ======= ======= ======= Earnings per Common Share Outstanding ------------------------------------- Net investment income $0.201 $0.238 $0.426 $0.477 Net realized and unrealized gains (losses) on investments 1.242 (1.433) (1.068) (1.868) Preferred dividends paid from net investment income (1) (0.013) (0.080) (0.082) (0.158) ------ ------ ------ ------ Net increase (decrease) in net assets from operations $1.430 $(1.275) $(0.724) $(1.549) ====== ======= ======= ======= Net investment income $0.201 $0.238 $0.426 $0.477 Preferred dividends paid from net investment income (1) (0.013) (0.080) (0.082) (0.158) ------ ------ ------ ------ Net investment income after preferred dividends (1) $0.188 $0.158 $0.344 $0.319 ====== ====== ====== ====== Net Asset Value at March 31 (Common Shares) --------------------------- Net assets $25,878 $32,939 Shares outstanding 2,517 2,513 Net asset value per share outstanding $10.28 $13.11 Market Value Summary (Common Shares) ------------------------------------ Market price on NYSE Amex at March 31 $10.60 $12.04 High market price (period ended March 31) $12.25 $14.40 Low market price (period ended March 31) $6.70 $11.85 (1) During the period ended March 31, 2009, the Fund made a partial redemption of its preferred shares. DATASOURCE: Eaton Vance Management CONTACT: Investor Contact of Eaton Vance Management, +1-800-262-1122 Web Site: http://www.eatonvance.com/

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