Eaton Vance New Jersey Municipal Income Trust (AMEX:EVJ) (the ?Trust?), a closed-end management investment company, today announced the earnings of the Trust for the three and nine-month periods ended August 31, 2006. The Trust's fiscal year ends on November 30, 2006.

For the three months ended August 31, 2006, the Trust had net investment income of $1,096,831 ($0.238 per common share). From this amount, the Trust paid dividends on preferred shares of $309,499 (equal to $0.067 for each common share), resulting in net investment income after the preferred dividends of $787,332, or $0.171 per common share. The Trust's net investment income for the nine months ended August 31, 2006 was $3,315,874 ($0.718 per common share, before deduction of the preferred share dividends totaling $0.187 per common share), resulting in net investment income after the preferred dividends of $0.531 per common share. In comparison, for the three months ended August 31, 2005, the Trust had net investment income of $1,160,241 ($0.251 per common share). From this amount, the Trust paid dividends on preferred shares of $197,603 (equal to $0.043 for each common share), resulting in net investment income after the preferred dividends of $962,638, or $0.208 per common share. The Trust's net investment income for the nine months ended August 31, 2005 was $3,524,132 ($0.763 per common share, before deduction of the preferred share dividends totaling $0.119 per common share), resulting in net investment income after the preferred dividends of $0.644 per common share.

Net realized and unrealized gains for the three months ended August 31, 2006 were $2,251,043 ($0.487 per common share). The Trust's net realized and unrealized gains for the nine months ended August 31, 2006 were $2,933,493 ($0.635 per common share). In comparison, net realized and unrealized gains for the three months ended August 31, 2005 were $1,016,229 ($0.222 per common share). The Trust's net realized and unrealized gains for the nine months ended August 31, 2005 were $3,676,579 ($0.796 per common share).

On August 31, 2006, net assets of the Trust applicable to common shares were $72,226,987. The net asset value per common share on August 31, 2006 was $15.63 based on 4,621,485 common shares outstanding. In comparison, on August 31, 2005, net assets of the Trust applicable to common shares were $71,920,115. The net asset value per common share on August 31, 2005 was $15.57 based on 4,619,136 common shares outstanding.

The Trust is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp, which is listed on the New York Stock Exchange under the symbol EV. Eaton Vance and its affiliates had approximately $124.1 billion in assets under management as of September 30, 2006. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance Management at (800) 262-1122.

EATON VANCE NEW JERSEY MUNICIPAL INCOME TRUST
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
 
Three Months Ended

Nine Months

Ended

August 31, August 31,
2006  2005  2006  2005 
Gross investment income $1,426  $1,487  $4,286  $4,497 
Operating expenses (329) (327) (970) (973)
Net investment income $1,097  $1,160  $3,316  $3,524 
Net realized and unrealized gains (losses) on investments
$2,251  $1,016  $2,933  $3,677 
Preferred dividends paid ($309) ($198) ($863) ($551)
Net increase (decrease) in net assets from operations
$3,039  $1,978  $5,386  $6,650 
 
Earnings per Common Share Outstanding
Gross investment income $0.309  $0.322  $0.928  $0.974 
Operating expenses (0.071) (0.071) (0.210) (0.211)
Net investment income $0.238  $0.251  $0.718  $0.763 
Net realized and unrealized gains (losses) on investments
$0.487  $0.222  $0.635  $0.796 
Preferred dividends paid ($0.067) ($0.043) ($0.187) ($0.119)
Net increase (decrease) in net assets from operations
$0.658  $0.430  $1.166  $1.440 
 
Net investment income $0.238  $0.251  $0.718  $0.763 
Preferred dividends paid (0.067) (0.043) (0.187) (0.119)
Net investment income after preferred dividends $0.171  $0.208  $0.531  $0.644 
 
Net Asset Value at August 31 (Common Shares)
Net assets (000) $72,227  $71,920 
Shares outstanding (000) 4,621  4,619 
Net asset value per share outstanding $15.63  $15.57 
 
Market Value Summary (Common Shares)
Market price on AMEX at August 31 $14.48  $14.84 
High market price (nine months ended August 31) $15.49  $15.62 
Low market price (nine months ended August 31) $13.70  $14.16