BOSTON, Aug. 3 /PRNewswire-FirstCall/ -- Eaton Vance New Jersey Municipal Income Trust (NYSE Amex: EVJ) (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 $1,136,629 ($0.245 per common share). From this amount, the Trust paid dividends on preferred shares of $60,729 (equal to $0.013 for each common share), resulting in net investment income after the preferred dividends of $1,075,900, or $0.232 per common share. The Trust's net investment income for the six months ended May 31, 2009 was $2,240,000 ($0.484 per common share, before deduction of the preferred share dividends totaling $0.031 per common share), resulting in net investment income after the preferred dividends of $0.453 per common share. In comparison, for the three months ended May 31, 2008, the Trust had net investment income of $1,133,197 ($0.245 per common share). From this amount, the Trust paid dividends on preferred shares of $332,204 (equal to $0.071 for each common share), resulting in net investment income after the preferred dividends of $800,993, or $0.174 per common share. The Trust's net investment income for the six months ended May 31, 2008 was $2,231,404 ($0.483 per common share, before deduction of the preferred share dividends totaling $0.145 per common share), resulting in net investment income after the preferred dividends of $0.338 per common share. Net realized and unrealized gains for the three months ended May 31, 2009 were $6,882,574 ($1.485 per common share). The Trust's net realized and unrealized gains for the six months ended May 31, 2009 were $13,863,748 ($2.995 per common share). In comparison, net realized and unrealized gains for the three months ended May 31, 2008 were $6,400,242 ($1.383 per common share). The Trust's net realized and unrealized losses for the six months ended May 31, 2008 were $3,284,436 ($0.713 per common share). On May 31, 2009, net assets of the Trust applicable to common shares were $57,623,396. The net asset value per common share on May 31, 2009 was $12.46 based on 4,624,183 common shares outstanding. In comparison, on May 31, 2008, net assets of the Trust applicable to common shares were $65,866,314. The net asset value per common share on May 31, 2008 was $14.25 based on 4,621,485 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 NEW JERSEY MUNICIPAL INCOME TRUST SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per share amounts) Three Months Six Months Ended Ended May 31, May 31, 2009 2008 2009 2008 Net investment income $1,137 $1,133 $2,240 $2,231 Net realized and unrealized gains (losses) on investments 6,883 6,400 13,864 (3,284) Preferred dividends paid from net investment income (1) (61) (332) (144) (672) Net increase (decrease) in net assets from operations $7,959 $7,201 $15,960 $(1,725) Earnings per Common Share Outstanding Net investment income $0.245 $0.245 $0.484 $0.483 Net realized and unrealized gains (losses) on investments 1.485 1.383 2.995 (0.713) Preferred dividends paid from net investment income (1) (0.013) (0.071) (0.031) (0.145) Net increase (decrease) in net assets from operations $1.717 $1.557 $3.448 $(0.375) Net Investment income $0.245 $0.245 $0.484 $0.483 Preferred dividends paid from net investment income (1) (0.013) (0.071) (0.031) (0.145) Net investment income after preferred dividends $0.232 $0.174 $0.453 $0.338 Net Asset Value at May 31 (Common Shares) Net assets $57,623 $65,866 Shares outstanding 4,624 4,621 Net asset value per share outstanding $12.46 $14.25 Market Value Summary (Common Shares) Market price on NYSE Amex at May 31 $11.98 $12.91 High market price (period ended May 31) $12.10 $13.76 Low market price (period ended May 31) $6.77 $11.97 (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: Investor Contact, +1-800-262-1122 Web Site: http://www.eatonvance.com/

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