Eaton Vance municipal funds to redeem auction preferred shares

By Susanna Moon

Chicago, Dec. 17 - Eaton Vance New Jersey Municipal Income Trust, Eaton Vance Ohio Municipal Income Trust, Eaton Vance Pennsylvania Municipal Income Trust, Eaton Vance Insured Ohio Municipal Bond Fund and Eaton Vance Insured Pennsylvania Municipal Bond Fund announced the voluntary redemption of a portion of their outstanding auction preferred shares to reduce the amount of the funds' financial leverage.

All redemptions will occur at the liquidation preference of $25,000 per share plus accrued dividends as of the redemption date.

The funds are expected to redeem the following amounts at the next dividend payment date beginning Dec. 22:

• New Jersey Municipal Income trust to redeem 29 shares for a liquidation preference of $725,000;

• Ohio Municipal Income Trust to redeem nine shares for a liquidation preference of $225,000;

• Pennsylvania Municipal Income Trust to redeem 42 shares for a liquidation preference of $1.05 million;

• Insured Ohio Municipal Bond Fund to redeem 69 shares for a liquidation preference of $1,725,000; and

• Insured Pennsylvania Municipal Bond Fund to redeem 85 shares for a liquidation preference of $2,125,000.

Depository Trust Co., holder of record of the preferreds, will determine the allocation of redemptions among participant broker-dealer accounts.

Each participant broker-dealer will determine the allocation of redemptions among beneficial holders for which it serves as nominee. Allocation procedures used by different broker-dealers will vary.

The funds are managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp., based in Boston.

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