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

For the three months ended May 31, 2006, the Trust had net investment income of $1,295,712 ($0.241 per common share). From this amount, the Trust paid dividends on preferred shares of $338,398 (equal to $0.063 for each common share), resulting in net investment income after the preferred dividends of $957,314 or $0.178 per common share. The Trust's net investment income for the six months ended May 31, 2006 was $2,640,095 ($0.491 per common share, before deduction of the preferred share dividends totaling $0.118 per common share), resulting in net investment income after the preferred dividends of $0.373 per common share. In comparison, for the three months ended May 31, 2005, the Trust had net investment income of $1,411,651 ($0.263 per common share). From this amount, the Trust paid dividends on preferred shares of $223,267 (equal to $0.042 for each common share), resulting in net investment income after the preferred dividends of $1,188,385, or $0.221 per common share. The Trust's net investment income for the six months ended May 31, 2005 was $2,886,271 ($0.538 per common share, before deduction of the preferred share dividends totaling $0.071 per common share), resulting in net investment income after the preferred dividends of $0.467 per common share.

Net realized and unrealized losses for the three months ended May 31, 2006 were $1,886,143 ($0.350 per common share). The Trust's net realized and unrealized gains for the six months ended May 31, 2006 were $500,045 ($0.094 per common share). In comparison, net realized and unrealized gains for the three months ended May 31, 2005 were $535,874 ($0.100 per common share). The Trust's net realized and unrealized gains for the six months ended May 31, 2005 were $3,363,090 ($0.631 per common share).

On May 31, 2006, net assets of the Trust applicable to common shares were $84,458,776. The net asset value per common share on May 31, 2006 was $15.71 based on 5,375,346 common shares outstanding. In comparison, on May 31, 2005, net assets of the Trust applicable to common shares were $86,205,139. The net asset value per common share on May 31, 2005 was $16.07 based on 5,364,388 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 $118.5 billion in assets under management as of June 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. -0- *T EATON VANCE NEW YORK MUNICIPAL INCOME TRUST SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended Six Months Ended May 31, May 31, ---------------- ----------------- 2006 2005 2006 2005 -------- ------- -------- -------- Gross investment income $1,675 $1,794 $3,403 $3,638 Operating expenses (379) (382) (763) (752) -------- ------- -------- -------- Net investment income $1,296 $1,412 $2,640 $2,886 Net realized and unrealized gains (losses) on investments ($1,886) $536 $500 $3,363 Preferred dividends paid ($338) ($223) ($634) ($379) -------- ------- -------- -------- Net increase (decrease) in net assets from operations ($928) $1,725 $2,506 $5,870 ======== ======= ======== ======== Earnings per Common Share Outstanding ------------------------------------ Gross investment income $0.312 $0.335 $0.633 $0.679 Operating expenses (0.071) (0.072) (0.142) (0.141) -------- ------- -------- -------- Net investment income $0.241 $0.263 $0.491 $0.538 Net realized and unrealized gains (losses) on investments ($0.350) $0.100 $0.094 $0.631 Preferred dividends paid (0.063) (0.042) (0.118) (0.071) -------- ------- -------- -------- Net increase (decrease) in net assets from operations ($0.172) $0.321 $0.467 $1.098 ======== ======= ======== ======== Net investment income $0.241 $0.263 $0.491 $0.538 Preferred dividends paid (0.063) (0.042) (0.118) (0.071) -------- ------- -------- -------- Net investment income after preferred dividends $0.178 $0.221 $0.373 $0.467 ======== ======= ======== ======== Net Asset Value at May 31 (Common Shares) ------------------------------------ Net assets (000) $84,459 $86,205 Shares outstanding (000) 5,375 5,364 Net asset value per share outstanding $15.71 $16.07 Market Value Summary (Common Shares) ------------------------------------ Market price on AMEX at May 31 $15.20 $16.00 High market price (six months ended May 31) $15.88 $16.04 Low market price (six months ended May 31) $14.70 $14.85 *T