Eaton Vance Michigan Municipal Bond Fund Report Of Earnings

         Eaton Vance Michigan Municipal Bond Fund Report Of Earnings

PR Newswire

BOSTON, Oct. 2, 2013

BOSTON, Oct. 2, 2013 /PRNewswire/ --Eaton Vance Michigan Municipal Bond Fund
(NYSE MKT: MIW) (the "Fund"), a closed-end management investment company,
today announced the earnings of the Fund for the three and nine-month periods
ended June 30, 2013. The Fund's fiscal year ends on September 30, 2013.

For the three months ended June 30, 2013, the Fund had net investment income
of $288,276 ($0.190 per common share). From this amount, the Fund paid
dividends on preferred shares of $8,073 (equal to $0.005 for each common
share), resulting in net investment income after the preferred dividends of
$280,203, or $0.185 per common share. The Fund's net investment income for the
nine months ended June 30, 2013 was $900,719 ($0.595 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 $0.580 per
common share. In comparison, for the three months ended June 30, 2012, the
Fund had net investment income of $321,327 ($0.212 per common share). From
this amount, the Fund paid dividends on preferred shares of $10,496 (equal to
$0.007 for each common share), resulting in net investment income after the
preferred dividends of $310,831, or $0.205 per common share. The Fund's net
investment income for the nine months ended June 30, 2012 was $983,387 ($0.650
per common share, before deduction of the preferred share dividends totaling
$0.016 per common share), resulting in net investment income after the
preferred dividends of $0.634 per common share.

Net realized and unrealized losses for the three months ended June 30, 2013
were $1,800,163 ($1.192 per common share). The Fund's net realized and
unrealized losses for the nine months ended June 30, 2013 were $2,134,622
($1.410 per common share). In comparison, net realized and unrealized gains
for the three months ended June 30, 2012 were $217,492 ($0.145 per common
share). The Fund's net realized and unrealized gains for the nine months ended
June 30, 2012 were $1,074,502 ($0.710 per common share).

On June 30, 2013, net assets of the Fund applicable to common shares were
$20,594,751. The net asset value per common share on June 30, 2013 was $13.60
based on 1,514,065 common shares outstanding. In comparison, on June 30, 2012,
net assets of the Fund applicable to common shares were $22,271,134. The net
asset value per common share on June 30, 2012 was $14.71 based on 1,513,634
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 $268.8 billion in assets as of July 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.

EATON VANCE MICHIGAN MUNICIPAL BOND FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
                            Three Months Ended        Nine Months Ended
                            June 30,                  June 30,
                            2013         2012         2013         2012
Net investment income       $    289  $    321  $    901  $    983
Net realized and unrealized
gains (losses)
 on investments            (1,801)      218          (2,135)      1,075
Preferred dividends paid    (8)          (11)         (23)         (24)
from net investment income
   Net increase (decrease)
   in net assets
    from operations        $ (1,520)   $    528  $ (1,257)   $  2,034
Earnings per Common Share
Outstanding
Net investment income      $  0.190   $  0.212   $  0.595   $  0.650
Net realized and unrealized
gains (losses)
 on investments            (1.192)      0.145        (1.410)      0.710
Preferred dividends paid    (0.005)      (0.007)      (0.015)      (0.016)
from net investment income
   Net increase (decrease)
   in net assets
    from operations        $ (1.007)   $  0.350   $ (0.830)   $  1.344
Net investment income       $  0.190   $  0.212   $  0.595   $  0.650
Preferred dividends paid    (0.005)      (0.007)      (0.015)      (0.016)
from net investment income
Net investment income after $  0.185   $  0.205   $  0.580   $  0.634
preferred dividends
Net Asset Value at June 30
(Common Shares)
   Net assets                                        $20,595      $ 22,271
   Shares outstanding                                1,514        1,514
   Net asset value per                                $13.60       $  14.71
   share outstanding
Market Value Summary
(Common Shares)
   Market price on NYSE MKT                           $12.44       $  16.13
   at June 30
   High market price                                  $16.30       $  16.30
   (period ended June 30)
   Low market price (period                           $12.07       $  13.34
   ended June 30)



SOURCE Eaton Vance Management

Website: http://www.eatonvance.com
Contact: Investors, (800) 262-1122
 
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