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 ended February 28, 2007. The Trust's fiscal year ends on November 30, 2007.

For the three months ended February 28, 2007, the Trust had net investment income of $1,092,042 ($0.236 per common share). From this amount, the Trust paid dividends on preferred shares of $304,645 (equal to $0.066 for each common share), resulting in net investment income after the preferred dividends of $787,397 or $0.170 per common share. In comparison, for the three months ended February 28, 2006, the Trust had net investment income of $1,149,700 ($0.249 per common share). From this amount, the Trust paid dividends on preferred shares of $271,509 (equal to $0.059 for each common share), resulting in net investment income after the preferred dividends of $878,191 or $0.190 per common share.

Net realized and unrealized losses for the three months ended February 28, 2007 were $278,893 ($0.060 per common share). In comparison, net realized and unrealized gains for the three months ended February 28, 2006 were $2,389,425 ($0.517 per common share).

On February 28, 2007, net assets of the Trust applicable to common shares were $74,574,196. The net asset value per common share on February 28, 2007 was $16.14 based on 4,621,485 common shares outstanding. In comparison, on February 28, 2006, net assets of the Trust applicable to common shares were $71,747,635. The net asset value per common share on February 28, 2006 was $15.53 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 $144.3 billion in assets under management on March 31, 2007. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance at (617) 482-8260.

EATON VANCE NEW JERSEY MUNICIPAL INCOME TRUST
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
 
Three Months Ended Three Months Ended
  February 28   February 28
2007  2006 
Net investment income $1,092  $1,150 
Net realized and unrealized gains (losses)
on investments ($279) $2,389 
Preferred dividends paid ($305) ($272)
Net increase (decrease) in net assets
from operations $508  $3,267 
 
Earnings per Common Share Outstanding
Net investment income $0.236  $0.249 
Net realized and unrealized gains (losses)
on investments ($0.060) $0.517 
Preferred dividends paid ($0.066) ($0.059)
Net increase (decrease) in net assets
from operations $0.110  $0.707 
 
Net investment income $0.236  $0.249 
Preferred dividends paid (0.066) (0.059)
Net investment income after preferred dividends $0.170  $0.190 
 
Net Asset Value at February 28 (Common Shares)
Net assets (000) $74,574  $71,748 
Shares outstanding (000) 4,621  4,619 
Net asset value per share outstanding $16.14  $15.53 
 
Market Value Summary (Common Shares)
Market price on AMEX at February 28 $14.91  $15.22 
High market price (three months ended February 28) $15.20  $15.30 
Low market price (three months ended February 28) $14.75  $13.70