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 months and year ended November 30, 2006. The Trust's fiscal year ended on November 30, 2006.

For the three months ended November 30, 2006, the Trust had net investment income of $1,085,808 ($0.235 per common share). From this amount, the Trust paid dividends on preferred shares of $305,468 (equal to $0.066 for each common share), resulting in net investment income after the preferred dividends of $780,340, or $0.169 per common share. The Trust's net investment income for the year ended November 30, 2006 was $4,401,682 ($0.953 per common share, before deduction of the preferred share dividends totaling $0.253 per common share), resulting in net investment income after the preferred dividends of $0.700 per common share. In comparison, for the three months ended November 30, 2005, the Trust had net investment income of $1,159,044 ($0.251 per common share). From this amount, the Trust paid dividends on preferred shares of $231,099 (equal to $0.050 for each common share), resulting in net investment income after the preferred dividends of $927,945, or $0.201 per common share. The Trust's net investment income for the year ended November 30, 2005 was $4,683,176 ($1.014 per common share, before deduction of the preferred share dividends totaling $0.169 per common share), resulting in net investment income after the preferred dividends of $0.845 per common share.

Net realized and unrealized gains for the three months ended November 30, 2006 were $2,618,274 ($0.570 per common share). The Trust's net realized and unrealized gains for the year ended November 30, 2006 were $5,551,767 ($1.205 per common share). In comparison, net realized and unrealized losses for the three months ended November 30, 2005 were $2,578,111 ($0.558 per common share). The Trust's net realized and unrealized gains for the year ended November 30, 2005 were $1,098,468 ($0.238 per common share).

On November 30, 2006, net assets of the Trust applicable to common shares were $74,845,586. The net asset value per common share on November 30, 2006 was $16.20 based on 4,621,485 common shares outstanding. In comparison, on November 30, 2005, net assets of the Trust applicable to common shares were $69,374,983. The net asset value per common share on November 30, 2005 was $15.02 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 $130.0 billion in assets under management as of December 31, 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 Year Ended
November 30,   November 30,
2006  2005  2006  2005 
Net investment income $1,086  $1,159  $4,402  $4,683 
Net realized and unrealized gains (losses) on investments
$2,618  ($2,578) $5,552  $1,098 
Preferred dividends paid ($305) ($231) ($1,168) ($782)
Net increase (decrease) in net assets from operations
$3,399  ($1,650) $8,786  $4,999 
 
Earnings per Common Share Outstanding
Net investment income $0.235  $0.251  $0.953  $1.014 
Net realized and unrealized gains (losses) on investments
$0.570  ($0.558) $1.205  $0.238 
Preferred dividends paid ($0.066) ($0.050) ($0.253) ($0.169)
Net increase (decrease) in net assets from operations
$0.739  ($0.357) $1.905  $1.083 
 
Net investment income $0.235  $0.251  $0.953  $1.014 
Preferred dividends paid (0.066) (0.050) (0.253) (0.169)
Net investment income after preferred dividends $0.169  $0.201  $0.700  $0.845 
 
Net Asset Value at November 30 (Common Shares)
Net assets (000) $74,846  $69,375 
Shares outstanding (000) 4,621  4,619 
Net asset value per share outstanding $16.20  $15.02 
 
Market Value Summary (Common Shares)
Market price on AMEX at November 30 $15.08  $14.03 
High market price (year ended November 30) $15.49  $15.62 
Low market price (year ended November 30) $13.70  $13.33