Eaton Vance National Municipal Income Trust (FEV) Recommends Merging Into Eaton Vance Municipal Income Trust (EVN); Portfolio Manager Replaced

November 17, 2008 5:43 PM EST

The Board of Trustees of Eaton Vance National Municipal Income Trust (NYSE: FEV), a closed-end investment company, voted to recommend that shareholders approve a merger of FEV into Eaton Vance Municipal Income Trust (NYSE: EVN), a closed-end investment company, at a special meeting of shareholders of FEV scheduled to take place on Friday, March 27, 2009 at 1:30 P.M. EST. Common shareholders of EVN will also be asked to approve the issuance of new EVN common shares at the meeting. Proxy materials containing information about the meeting and the proposed transaction will be mailed to FEV's common and auction preferred shares ("APS") shareholders and EVN's common shareholders of record as of January 23, 2009.

Eaton Vance also announced that Thomas M. Metzold will replace Cynthia J. Clemson as portfolio manager of FEV. Mr. Metzold, a Vice President of Eaton Vance Management, joined Eaton Vance in 1987 and has been a Portfolio Manager of various Eaton Vance municipal bond funds since 1991.

Eaton Vance Management, the Funds' investment adviser, is a subsidiary of Eaton Vance Corp., (NYSE: EV). Through its subsidiaries, Eaton Vance Corp. manages funds and separate accounts for individuals and institutional clients. Eaton Vance and its affiliates had approximately $123 billion in assets under management on October 31, 2008. [SM]

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