Eaton Vance Municipal Bond Fund II Report of Earnings

            Eaton Vance Municipal Bond Fund II Report of Earnings

PR Newswire

BOSTON, Dec. 3, 2012

BOSTON, Dec. 3, 2012 /PRNewswire/ --Eaton Vance Municipal Bond Fund II (NYSE
MKT: EIV) (the "Fund"), a closed-end management investment company, today
announced the earnings of the Fund for the three months and year ended
September 30, 2012. The Fund's fiscal year ended on September 30, 2012.

For the three months ended September 30, 2012, the Fund had net investment
income of $1,860,804 ($0.186 per common share). From this amount, the Fund
paid dividends on preferred shares of $27,941 (equal to $0.003 for each common
share), resulting in net investment income after the preferred dividends of
$1,832,863, or $0.183 per common share. The Fund's net investment income for
the year ended September 30, 2012 was $7,777,620 ($0.778 per common share,
before deduction of the preferred share dividends totaling $0.011 per common
share), resulting in net investment income after the preferred dividends of
$0.767 per common share. In comparison, for the three months ended September
30, 2011, the Fund had net investment income of $2,077,008 ($0.208 per common
share). From this amount, the Fund paid dividends on preferred shares of
$24,845 (equal to $0.002 for each common share), resulting in net investment
income after the preferred dividends of $2,052,163, or $0.206 per common
share. The Fund's net investment income for the year ended September 30, 2011
was $9,266,701 ($0.929 per common share, before deduction of the preferred
share dividends totaling $0.015 per common share), resulting in net investment
income after the preferred dividends of $0.914 per common share.

Net realized and unrealized gains for the three months ended September 30,
2012 were $5,172,567 ($0.523 per common share). The Fund's net realized and
unrealized gains for the year ended September 30, 2012 were $14,307,940
($1.437 per common share). In comparison, net realized and unrealized gains
for the three months ended September 30, 2011 were $7,222,166 ($0.720 per
common share). The Fund's net realized and unrealized losses for the year
ended September 30, 2011 were $6,321,536 ($0.638 per common share).

On September 30, 2012, net assets of the Fund applicable to common shares were
$133,772,264. The net asset value per common share on September 30, 2012 was
$13.37 based on 10,007,361 common shares outstanding. In comparison, on
September 30, 2011, net assets of the Fund applicable to common shares were
$120,307,744. The net asset value per common share on September 30, 2011 was
$12.04 based on 9,990,252 common shares outstanding.

The Fund periodically makes certain performance data and information about
portfolio characteristics available on www.eatonvance.com (on the fund
information page under "Individual Investors – Closed-End Funds"). Fund
portfolio holdings for the most recent month-end are also posted to the
website approximately 30 days following month-end.

The Fund 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 $199.5 billion in assets as of October 31, 2012
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.

EATON VANCE MUNICIPAL BOND FUND II
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
                             Three Months Ended       Year Ended
                             September 30,            September 30,
                             2012        2011         2012         2011
Net investment income        $  1,861  $   2,077  $   7,778  $   9,267
Net realized and unrealized
gains (losses)
 on investments             5,173       7,222        14,308       (6,322)
Preferred dividends paid     (28)        (25)         (109)        (154)
from net investment income
   Net increase (decrease)
   in net assets
    from operations         $  7,006  $   9,274  $ 21,977    $   2,791
Earnings per Common Share
Outstanding
Net investment income       $  0.186  $   0.208  $   0.778  $   0.929
Net realized and unrealized
gains (losses)
 on investments             0.523       0.720        1.437        (0.638)
Preferred dividends paid     (0.003)     (0.002)      (0.011)      (0.015)
from net investment income
   Net increase (decrease)
   in net assets
    from operations         $  0.706  $   0.926  $   2.204  $   0.276
Net investment income        $  0.186  $   0.208  $   0.778  $   0.929
Preferred dividends paid     (0.003)     (0.002)      (0.011)      (0.015)
from net investment income
Net investment income after  $  0.183  $   0.206  $   0.767  $   0.914
preferred dividends
Net Asset Value at September
30 (Common Shares)
   Net assets                                        $133,772     $120,308
   Shares outstanding                                10,007       9,990
   Net asset value per share                          $13.37       $12.04
   outstanding
Market Value Summary (Common
Shares)
   Market price on NYSE MKT                           $13.88       $13.28
   at September 30
   High market price (period                          $14.95       $14.09
   ended September 30)
   Low market price (period                           $12.40       $11.14
   ended September 30)

SOURCE Eaton Vance Management

Website: http://www.eatonvance.com
Contact: Investor Contact: (800) 262-1122
 
Press spacebar to pause and continue. Press esc to stop.