Trustees of Eaton Vance Closed-End Insured Municipal Bond Funds Approve Changes in Investment Policy; Announce Special Sharehold

BOSTON, Nov. 2  /PRNewswire-FirstCall/ -- The Trustees of the following Eaton Vance closed-end funds have approved changes to the Funds' investment policies related to investments in insured obligations:

    Eaton Vance Insured Municipal Bond Fund (NYSE Amex: EIM);
    Eaton Vance Insured California Municipal Bond Fund (NYSE Amex: EVM);
    Eaton Vance Insured New York Municipal Bond Fund (NYSE Amex: ENX);
    Eaton Vance Insured Municipal Bond Fund II (NYSE Amex: EIV);
    Eaton Vance Insured California Municipal Bond Fund II (NYSE Amex: EIA);
    Eaton Vance Insured Massachusetts Municipal Bond Fund (NYSE Amex: MAB);
    Eaton Vance Insured Michigan Municipal Bond Fund (NYSE Amex: MIW);
    Eaton Vance Insured New Jersey Municipal Bond Fund (NYSE Amex: EMJ);
    Eaton Vance Insured New York Municipal Bond Fund II (NYSE Amex: NYH);
    Eaton Vance Insured Ohio Municipal Bond Fund (NYSE Amex: EIO); and
    Eaton Vance Insured Pennsylvania Municipal Bond Fund (NYSE Amex: EIP)
       (together, the "Funds").



Under the Funds' current policy, during normal market conditions (a) at least 80 percent of each Fund's net assets shall be invested in tax-exempt municipal obligations that are insured as to the payment of principal and interest by an insurer rated Baa or better by Moody's Investors Service, Inc. ("Moody's") or BBB or better by Standard & Poor's Ratings Group ("S&P") or Fitch Ratings ("Fitch") and (b) at least 50 percent of each Fund's investments in insured municipal obligations shall be insured by an insurer rated A or better by Moody's, S&P or Fitch.

Effective today, each Fund has eliminated the requirement that at least 50 percent of its insured municipal obligations be insured by insurers rated A or better.  In addition, the Trustees of each Fund have voted to recommend that shareholders approve a modification to each Fund's 80 percent policies to eliminate the requirement to invest primarily in insured municipal obligations.  If approved by shareholders, the Funds would thereafter be required, under normal market conditions, to invest at least 80 percent of net assets in municipal obligations rated A or better by Moody's, S&P or Fitch and each of them would eliminate "Insured" from its name.  For purposes of the Funds' 80 percent requirement, the rating of insured obligations will be deemed to be the higher of the claims-paying rating of the insurer and the rating of the underlying issue.  The joint special meeting of shareholders of the Funds is scheduled to take place on Friday, January 29, 2010 at 2:00 P.M. eastern time.  Proxy materials containing information about the meeting and the proposed changes will be mailed to each Fund's shareholders of record as of November 18, 2009.

The Funds are managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE:EV), one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $157.0 billion in assets as of September 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/. 

DATASOURCE: Eaton Vance Management



CONTACT:  Investors, Jonathan Isaac of Eaton Vance Management,

[phone]



Web Site:  http://www.eatonvance.com/ 

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