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EVP News Eaton Vance Pennsylvania Municipal Income Trust Report of Earnings

BOSTON--(BUSINESS WIRE)--Eaton Vance Pennsylvania Municipal Income Trust (AMEX: EVP) (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 ended on November 30, 2006.

For the three months ended August 31, 2006, the Trust had net investment income of $658,361 ($0.243 per share). From this amount, the Trust paid dividends on preferred shares of $192,528 (equal to $0.072 for each common share), resulting in net investment income after the preferred dividends of $465,833, or $0.171 per common share. The Trust’s net investment income for the nine months ended August 31, 2006 increased to $2,003,341 ($.740 per share). From this amount, the Trust paid dividends on preferred shares of $545,626 (equal to $0.202 for each common share), resulting in net investment income after preferred dividend of $1,457,715 or $0.538 per common share. In comparison, for the three months ended August 31, 2005, the Trust had net investment income of $686,370 ($0.254 per share). From this amount, the Trust paid a dividend on preferred shares of $121,355 (equal to $0.045 for each common share), resulting in net investment income after the preferred dividend of $565,015, or $0.209 per common share. The Trust’s net investment income for the nine months ended August 31, 2005 was $2,069,892 ($0.768 per common share, before deduction of the preferred share dividends totaling $0.130 per common share), resulting in net investment income after the preferred dividends of $0.638 per common share.

Net realized and unrealized gains for the three months ended August 31, 2006 were $1,250,336 ($0.467 per common share. The Trust’s net realized and unrealized gains for the nine months ended August 31, 2006 were $1,539,352 ($0.568 per common share). In comparison, net realized and unrealized losses for the three months ended August 31, 2005 were $29,586 ($0.006 per common share). The Trust’s net realized and unrealized gains for the nine months ended August 31, 2005 were $756,458 ($0.281 per common share).

On August 31, 2006, net assets of the Trust applicable to common shares were $41,404,951. The net asset value per common share on August 31, 2006 was $15.29 based on 2,708,462 common shares outstanding. In comparison, on August 31, 2005, net assets of the Trust applicable to common shares were $40,763,714. The net asset value per common share on August 31, 2005 was $15.08 based on 2,702,907 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 on August 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.