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Eaton Vance Management Announces Portfolio Manager Changes For Eaton Vance Municipal Income Term Trust, Eaton Vance National Municipal Opportunities Trust, Eaton Vance California Municipal Bond Fund, Eaton Vance California Municipal Bond Fund II, Eaton Va

EATON VANCE MUNICIPAL INCOME TERM TRUST AMENDS INVESTMENT POLICY

BOSTON, Dec. 23, 2013 /PRNewswire/ -- Eaton Vance Management ("EVM"), a wholly owned subsidiary of Eaton Vance Corp. ("Eaton Vance"), today announced that, effective January 1, 2014, the portfolio manager of the Funds listed below will be as follows: 

Fund

New Manager

Eaton Vance National Municipal Opportunities Trust (NYSE: EOT)

Cynthia J. Clemson

Eaton Vance Municipal Income Term Trust (NYSE: ETX)

Thomas M. Metzold

Eaton Vance California Municipal Bond Fund (NYSE MKT: EVM)

Craig R. Brandon

Eaton Vance California Municipal Bond Fund II (NYSE MKT: EIA)

Craig R. Brandon

Eaton Vance California Municipal Income Trust (NYSE MKT: CEV)

Craig R. Brandon

Ms. Clemson and Messrs. Metzold and Brandon are Vice Presidents of EVM, with 28, 26 and 18 years of experience, respectively, as members of EVM's Boston Municipals Group.  Ms. Clemson has been Co-Director of the Boston Municipals Group since 2005.  She will be joined in that role by Mr. Brandon effective January 1, 2014, at which time Mr. Metzold becomes a Senior Portfolio Advisor within the Group. Ms. Clemson and Messrs. Metzold and Brandon also manage or co-manage other EVM municipal income portfolios.

Eaton Vance Municipal Income Term Trust (the "Fund") is not currently permitted to invest more than 5% of its total assets in any one issuer.  Effective January 31, 2014, the Fund will be permitted, with respect to 25% of its total assets, to invest more than 5% in any one issuer.  As a result of this change, for a subset of its total assets, the Fund will be permitted to invest a greater percentage of its assets in the securities of a single issuer than under its current policy.

Eaton Vance (NYSE: EV) is one of the oldest investment management firms in the United States with a history dating back to 1924. Eaton Vance and its affiliates managed $280.7 billion in assets as of October 31, 2013, offering individuals and institutions a broad array of investment strategies 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 www.eatonvance.com.

Shares of closed-end funds often trade at a discount to net asset value. The market price of Fund shares can be affected by factors such as changing perceptions about the Fund, market conditions, fluctuations in supply and demand for Fund shares, or changes in Fund distributions. Fund shares are subject to investment risk, including possible loss of principal invested. No Fund is a complete investment program and you may lose money investing in a Fund. An investment in a Fund may not be appropriate for all investors.

SOURCE Eaton Vance Management

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