Eaton Vance Insured Municipal Bond Fund (AMEX: EIM), a non-diversified closed-end investment company, today announced the earnings of the Fund for the three and nine months ended June 30, 2007. The Fund's fiscal year ends on September 30, 2007.

For the three months ended June 30, 2007, the Fund had net investment income of $16,984,377 ($0.263 per common share). From this amount, the Fund paid dividends on preferred shares of $5,263,105 (equal to $0.081 for each common share), resulting in net investment income after the preferred dividends of $11,721,272, or $0.182 per common share. For the nine months ended June 30, 2007, the Fund had net investment income of $50,957,045 ($0.789 per common share, before the deduction of the preferred share dividends of $9,226,708 ($0.142 per common share), resulting in net investment income after the preferred dividends of $41,730,337 or $0.647 per common share. In comparison, for the three months ended June 30, 2006, the Fund had net investment income of $17,266,767 ($0.267 per common share). From this amount, the Fund paid dividends on preferred shares of $4,986,618 (equal to $0.077 for each common share), resulting in net investment income after the preferred dividends of $12,280,149, or $0.190 per common share. For the nine months ended June 30, 2006, the Fund had net investment income of $51,382,523 ($0.795 per common share, before the deduction of the preferred share dividends of $13,347,171 ($0.206 per common share), resulting in net investment income after the preferred dividends of $38,035,352 or $0.589 per common share.

Net realized and unrealized losses for the three months ended June 30, 2007 were $34,826,746 ($0.538 per common share). The Fund's net realized and unrealized losses for the nine months ended June 30, 2007 were $26,035,797 ($0.402 per common share). In comparison, net realized and unrealized losses for the three months ended June 30, 2006 were $28,520,586 ($0.441 per common share). The Fund's net realized and unrealized losses for the nine months ended June 30, 2006 were $16,681,707 ($0.258 per common share).

On June 30, 2007, net assets of the Fund applicable to common shares were $978,805,445. The net asset value per common share on June 30, 2007 was $15.13 based on 64,695,475 common shares outstanding. In comparison, On June 30, 2006, net assets of the Fund applicable to common shares were $967,108,807. The net asset value per common share on June 30, 2006 was $14.96 based on 64,638,238 common shares outstanding.

Common shares of the Fund are traded on the American Stock Exchange. The Fund 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 over $150 billion in assets under management as of August 15, 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 INSURED MUNICIPAL BOND FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
         
Three Months Ended Nine Months Ended
June 30, June 30,
2007   2006   2007   2006  
Net investment income $16,985 $17,267 $50,957 $51,383

Net realized and unrealized gains (losses) on investments

($34,827 ) ($28,521 ) ($26,036 ) ($16,682 )
Preferred dividends paid ($5,263 ) ($4,987 ) ($9,227 ) ($13,347 )

Net increase (decrease) in net assets from operations

($23,105 ) ($16,241 ) $15,694   $21,354  
 
Earnings per Common Share Outstanding
Net investment income $0.263 $0.267 $0.789 $0.795

Net realized and unrealized gains (losses) on investments

($0.538 ) ($0.441 ) ($0.402 ) ($0.258 )
Preferred dividends paid from net investment income ($0.081 ) ($0.077 ) ($0.142 ) ($0.206 )

Net increase (decrease) in net assets from operations

($0.356 ) ($0.251 ) $0.245   $0.331  
 
Net investment income $0.263 $0.267 $0.789 $0.795
Preferred dividends paid from net investment income (0.081 ) (0.077 ) (0.142 ) (0.206 )
Net investment income after preferred dividend $0.182   $0.190   $0.647   $0.589  
 
Net Asset Value at June 30 (Common Shares)
Net assets (000) $978,805 $967,109
Shares outstanding (000) 64,695 64,638
Net asset value per share outstanding $15.13 $14.96
 
Market Value Summary (Common Shares)
Market price on AMEX at June 30 $14.97 $13.84
High market price (nine months ended June 30) $16.01 $15.31
Low market price (nine months ended June 30) $14.80 $13.62

Eaton Vance Insured Municipal Bond Fund
Media Contact:
Meg Pier, 617-482-8260
or
Investor Contact: 800-225-6265, Option #2