BLACKROCK INCOME TRUST, INC.

DEF 14A 1 e32412_def14a.htm DEF 14A

August 1, 2008 Dear Shareholder:

A joint annual meeting of the BlackRock closed-end funds listed in Appendix A to the enclosed proxy statement (each a Fund) will be held at the offices of BlackRock Advisors, LLC, Park Avenue Plaza, 55 East 52nd Street, 11th Floor, New York, New York 10055, on Friday, September 12, 2008, at 12:30 p.m. (Eastern time), to vote on the proposal discussed in the enclosed proxy statement.

The purpose of the meeting is to seek shareholder approval of nominees to the board of directors or trustees (each a Board, the members of which are referred to as Board Members) of each Fund. At a meeting of the Boards held on May 29-30, 2008, each Board approved the proposed nominees on behalf of its Fund, subject to approval by the Funds shareholders. The Boards have reviewed the qualifications and backgrounds of the nominees and believe that they are experienced in overseeing investment companies and are familiar with the Funds and their investment advisers and that their election is in your best interests.

The Board Members responsible for your Fund recommend that you vote FOR the nominees for your Fund. However, before you vote, please read the full text of the proxy statement for an explanation of the proposal.

Your vote is important. Even if you plan to attend and vote in person at the meeting, please promptly follow the enclosed instructions to submit voting instructions by telephone or over the Internet. Alternatively, you may submit voting instructions by signing and dating each proxy card you receive, and if received by mail, returning it in the accompanying postage-paid return envelope.

You have received this proxy statement because you were a shareholder of record on July 14, 2008 of at least one of the Funds listed in Appendix A . Certain other BlackRock closed-end funds not listed in Appendix A will also hold their annual meeting at the place and date stated above. If you were also a shareholder of record on July 14, 2008 of at least one of those other funds, you will receive a separate proxy statement relating to those funds. If you have any questions about the proposal to be voted on, please call The Altman Group, Inc. at 1-800-820-2412.

Sincerely,

Howard B. Surloff Secretary of the Funds

BlackRock Closed-End Funds 100 Bellevue Parkway Wilmington, DE 19809 (800) 441-7762

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IMPORTANT NEWS FOR FUND SHAREHOLDERS

While we encourage you to read the full text of the enclosed proxy statement, for your convenience we have provided a brief overview of the matters to be voted on.

Questions and Answers

Q.	Why am I receiving the proxy statement?
A.	Each Fund is required to hold an annual meeting of shareholders for the election of Board Members. This proxy statement describes the nominees to the Board of the Fund(s) in which you own shares and provides you with other information relating to
the meeting. The enclosed proxy card(s) indicate the Fund(s) in which you own shares. The table beginning on page 3 of the proxy statement identifies the nominees for each Fund.
Q.	How do the Boards of the Funds recommend that I vote?
A.	The Boards have reviewed the qualifications and backgrounds of the nominees and believe that they are experienced in overseeing investment companies and are familiar with the Funds and their investment advisers. The Boards have approved the nominees
named in the proxy statement, believe their election is in your best interests and recommend that you vote FOR each nominee.
Q.	Will my vote make a difference?
A.	Your vote is very important and can make a difference in the governance and management of the Funds, no matter how many shares you own. Your vote can help ensure that the nominees recommended by the Boards will be elected. We encourage all
shareholders to participate in the governance of their Funds.
Q.	Are the Funds paying for the cost of the proxy statement?
A.	The costs associated with the proxy statement, including the mailing and the proxy solicitation costs, will be borne by the Funds. Additional out-of-pocket costs, such as legal expenses and auditor fees, incurred in connection with the preparation
of the proxy statement, also will be borne by the Funds. Costs that are borne by the Funds collectively will be allocated among the Funds on the basis of a combination of their respective net assets and number of shareholder accounts, except when
direct costs can reasonably be attributed to one or more specific Funds.
	The Funds and BlackRock, Inc. have retained The Altman Group, Inc. (Altman), 60 East 42nd Street, Suite 405, New York, New York 10165, a proxy solicitation firm, to assist in the printing and distribution of proxy materials and the
solicitation and tabulation of proxies. In addition, Broadridge Financial Solutions, Inc. (Broadridge), 51 Mercedes Way, Edgewood, New York 11717, will assist the Funds in the distribution of proxy materials. It is anticipated that
Altman and Broadridge will be paid approximately $33,432 and $915,447, respectively, for such services (including reimbursements of out-of-pocket expenses).
Q.	Whom do I call if I have questions?
A.	If you need more information, or have any questions about voting, please call Altman, the Funds proxy solicitor, at 1-800-820-2412.
Q.	How do I vote my shares?
A.	You can provide voting instructions by telephone by calling the toll-free number on the proxy card(s) or by computer by going to the Internet address provided on the Notice of Internet Availability of Proxy Materials or proxy card(s) and following
the instructions. Alternatively, if you received your proxy card(s) by mail, you can vote your shares by signing and dating the proxy card(s) and mailing it in the enclosed postage-paid envelope. You may also attend the meeting and vote in person; however, even if you intend to do so, we encourage you to provide voting instructions by one of the methods discussed above.

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Please vote now . Your vote is important. To avoid the wasteful and unnecessary expense of further solicitation, we urge you to indicate your voting instructions on the proxy card(s), and if received by mail, date and sign it and return it promptly in the envelope provided, or record your voting instructions by telephone or via the Internet, no matter how large or small your holdings may be. If your shares are held through a broker, you must provide voting instructions to your broker about how to vote your shares in order for your broker to vote your shares as you instruct at the meeting.

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August 1, 2008

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON SEPTEMBER 12, 2008

Annual meetings of the shareholders of the funds identified below (each a Fund) will be held at the offices of BlackRock Advisors, LLC, Park Avenue Plaza, 55 East 52nd Street, 11th Floor, New York, New York 10055, on Friday September 12, 2008, at 12:30 p.m. (Eastern time), to consider and vote on the proposal, as more fully described in the accompanying joint proxy statement:

PROPOSAL 1.	To elect nominees to the Board of your Fund(s).
PROPOSAL 2.	To transact such other business as may properly come before the meeting or any adjournments or postponements thereof.

Your Board recommends that you vote FOR the nominees upon which you are being asked to vote.

Shareholders of record as of the close of business on July 14, 2008 are entitled to vote at the meeting and at any adjournments or postponements thereof.

If you own shares in more than one Fund as of July 14, 2008, you may receive more than one proxy card. Please be certain to sign, date and return each proxy card you receive.

By Order of the Boards,

Howard B. Surloff Secretary of the Funds

BlackRock Closed-End Funds 100 Bellevue Parkway Wilmington, DE 19809 (800) 441-7762

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BlackRock Closed-End Funds Holding Annual Meetings of Shareholders on September 12, 2008

Name of Fund	Ticker
BlackRock Apex Municipal Fund, Inc.	APX
BlackRock Florida Insured Municipal
Income Trust	BAF
BlackRock Florida Municipal Income
Trust	BBF
BlackRock Municipal Bond Trust	BBK
BlackRock Real Asset Equity Trust	BCF
BlackRock California Insured Municipal
Income Trust	BCK
BlackRock California Municipal Income
Trust II	BCL
BlackRock Broad Investment Grade 2009
Term Trust Inc.	BCT
BlackRock Enhanced Dividend Achievers TM Trust	BDJ
BlackRock Strategic Dividend Achievers TM Trust	BDT
BlackRock Dividend Achievers TM Trust	BDV
BlackRock California Insured Municipal
2008 Term Trust Inc.	BFC
BlackRock Global Equity Income Trust	BFD
BlackRock Municipal Income Trust	BFK
BlackRock Florida Municipal 2020 Term
Trust	BFO
BlackRock New York Municipal Income
Trust II	BFY
BlackRock California Municipal Income
Trust	BFZ
BlackRock Global Energy and Resources
Trust	BGR
BlackRock Global Floating Rate Income
Trust	BGT
BlackRock International Growth and
Income Trust	BGY
BlackRock Strategic Bond Trust	BHD
BlackRock Core Bond Trust	BHK
BlackRock Defined Opportunity Credit
Trust	BHL
BlackRock Virginia Municipal Bond
Trust	BHV
BlackRock High Yield Trust	BHY
BlackRock Florida Municipal Bond Trust	BIE
BlackRock California Municipal 2018
Term Trust	BJZ
BlackRock Municipal 2020 Term Trust	BKK
BlackRock Investment Quality Municipal
Trust Inc.	BKN
BlackRock Income Trust Inc.	BKT
BlackRock Municipal Income Trust II	BLE
BlackRock New York Municipal 2018
Term Trust	BLH
BlackRock New Jersey Municipal Bond
Trust	BLJ
BlackRock New York Insured Municipal
2008 Term Trust Inc.	BLN
BlackRock Limited Duration Income
Trust	BLW
BlackRock Health Sciences Trust	BME
BlackRock Insured Municipal Term Trust
Inc.	BMT
BlackRock Income Opportunity Trust
Inc.	BNA
BlackRock New Jersey Municipal Income
Trust	BNJ
BlackRock New York Municipal Income
Trust	BNY
BlackRock Global Opportunities Equity
Trust	BOE
BlackRock Municipal 2018 Term Trust	BPK
BlackRock Preferred Opportunity Trust	BPP
BlackRock Pennsylvania Strategic Municipal
Trust	BPS
BlackRock New York Municipal Bond
Trust	BQH
BlackRock EcoSolutions Investment
Trust	BQR
BlackRock S&P Quality Rankings
Global Equity Managed Trust	BQY
BlackRock Florida Insured Municipal
2008 Term Trust	BRF
BlackRock Insured Municipal 2008 Term
Trust Inc.	BRM
BlackRock Strategic Municipal Trust	BSD
BlackRock New York Insured Municipal
Income Trust	BSE
BlackRock Long-Term Municipal Advantage
Trust	BTA

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Name of Fund	Ticker
BlackRock Preferred and Equity Advantage
Trust	BTZ
BlackRock World Investment Trust	BWC
BlackRock Insured Municipal Income
Trust	BYM
BlackRock California Municipal Bond
Trust	BZA
BlackRock Maryland Municipal Bond
Trust	BZM
BlackRock High Income Shares	HIS
BlackRock MuniAssets Fund, Inc.	MUA
BlackRock California Investment Quality
Municipal Trust Inc.	RAA
BlackRock Florida Investment Quality
Municipal Trust	RFA
BlackRock New Jersey Investment Quality
Municipal Trust Inc.	RNJ
BlackRock New York Investment Quality
Municipal Trust Inc.	RNY

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TABLE OF CONTENTS

	Page
JOINT PROXY STATEMENT	1
SUMMARY OF PROPOSAL AND FUNDS VOTING	3
PROPOSAL 1 TO ELECT BOARD MEMBER NOMINEES	5
Vote Required and Manner of Voting Proxies	11
Independent Registered Public Accounting Firm	12
Additional Information	13
Appendix A Fund Information	A-1
Appendix B Compensation of the Board Members	B-1
Appendix C Equity Securities owned by Board Members	C-1
Appendix D Meetings of the Boards	D-1
Appendix E Standing Committees of the Boards	E-1
Appendix F Audit Committee and Governance and Nominating Committee Charters	F-1
Appendix G Officers of the Funds	G-1
Appendix H Audit Fees, Audit Related Fees, Tax Fees and All Other Fees to
Independent Registered Public Accountants	H-1
Appendix I 5% Share Ownership	I-1
Appendix J Section 16 Filings	J-1
Appendix K Additional Section 16 Information	K-1

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ANNUAL MEETING OF SHAREHOLDERS

SEPTEMBER 12, 2008

JOINT PROXY STATEMENT

This joint proxy statement (the Proxy Statement) is furnished in connection with the solicitation of proxies by the board of directors or trustees (each a Board, the members of which are referred to as Board Members) of each BlackRock closed-end fund listed on page 3 of this Proxy Statement (each a Fund). The proxies will be voted at the joint annual meeting of shareholders of the Funds and at any and all adjournments or postponements thereof. The meeting will be held at the offices of BlackRock Advisors, LLC, Park Avenue Plaza, 55 East 52nd Street, 11th Floor, New York, New York 10055 on Friday, September 12, 2008, at 12:30 p.m. (Eastern time). The meeting will be held for the purposes set forth in the accompanying notice.

The Boards of the Funds have determined that the use of this Proxy Statement for the meeting is in the best interests of the Funds and their shareholders in light of the similar matters being considered and voted on by the shareholders of each Fund. This Proxy Statement and the accompanying materials, or a Notice of Internet Availability of Proxy Materials, are being mailed to shareholders on or about August 1, 2008.

Each Fund listed in Appendix A to this Proxy Statement is organized as a Massachusetts business trust (each, a Massachusetts Trust), a Maryland corporation (each, a Maryland Corporation) or a Delaware statutory trust (each, a Delaware Trust). The Massachusetts Trusts, Maryland Corporations and Delaware Trusts are closed-end investment companies registered under the Investment Company Act of 1940 (the 1940 Act). A list of each Massachusetts Trust, Maryland Corporation and Delaware Trust is set forth in Appendix A .

Shareholders of record of a Fund as of the close of business on July 14, 2008 (the Record Date) are entitled to attend and to vote at that Funds meeting. Shareholders of the Funds are entitled to one vote for each share held, with no shares having cumulative voting rights. Holders of the auction market preferred stock, auction market preferred shares, auction preferred stock, auction preferred shares, auction rate preferred shares of beneficial interest, municipal auction rate cumulative preferred shares or auction rate municipal preferred shares (collectively, AMPS) of each of the Funds identified in Appendix A (collectively, the AMPS Funds) will have equal voting rights with the shares of common stock or common shares of beneficial interest (collectively, common shares) of the AMPS Funds and will vote together with the holders of common shares as a single class on each nominee to the Board of the AMPS Fund in which they own AMPS, except that they are entitled to vote separately as a class to elect two Board Members for each AMPS Fund in which they own AMPS. The quorum and voting requirements for each Fund are described in the section below entitled Vote Required and Manner of Voting Proxies.

The number of shares outstanding of each Fund as of the close of business on the Record Date and the net assets of each Fund on the Record Date are shown in Appendix A . Except as set forth in Appendix I , to the knowledge of each Fund, as of May 31, 2008, no person was the beneficial owner of five percent or more of a class of a Funds outstanding shares.

The Fund in which you owned shares on the Record Date is named on the proxy card or Notice of Internet Availability of Proxy Materials. If you owned shares in more than one Fund on the Record Date, you may receive more than one proxy card. Even if you plan to attend the meeting, please sign, date and return EACH proxy card you receive or if you provide voting instructions by telephone or over the Internet, please vote on the proposal affecting EACH Fund you own. If you vote by telephone or over the Internet, you will be asked to enter a unique code that has been assigned to you, which is printed on your proxy card(s) or Notice of Internet Availability of Proxy Materials, as applicable.

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This code is designed to confirm your identity, provide access into the voting site and confirm that your instructions are properly recorded.

All properly executed proxies received prior to the meeting will be voted at the meeting. On any matter coming before the meeting as to which a shareholder has specified a choice on that shareholders proxy, the shares will be voted accordingly. If a proxy is properly executed and returned and no choice is specified with respect to the proposal, the shares will be voted FOR the proposal. Shareholders who execute proxies or provide voting instructions by telephone or the Internet may revoke them with respect to the proposal at any time before a vote is taken on the proposal by filing with the applicable Fund a written notice of revocation (addressed to the Secretary of the Fund at the principal executive offices of the Fund at the address above), by delivering a duly executed proxy bearing a later date or by attending the meeting and voting in person, in all cases prior to the exercise of the authority granted in the proxy card. Merely attending the meeting, however, will not revoke any previously executed proxy. If you hold shares through a bank or other intermediary, please consult your bank or intermediary regarding your ability to revoke voting instructions after such instructions have been provided.

Certain other BlackRock closed-end funds not listed on page 3 will also hold their annual meeting at the place and date stated above. If you were also a shareholder of record on the Record Date of at least one of those other funds, you will receive a separate proxy statement relating to those funds.

Photographic identification will be required for admission to the meeting.

Each Fund will furnish, without charge, a copy of its annual report and most recent semi-annual report succeeding the annual report, if any, to a shareholder upon request. Such requests should be directed to the Fund at 40 East 52nd Street, New York, New York 10022-5911, or by calling toll free at 1-800-441-7762. Copies of annual and semi-annual reports of each Fund are also available on the EDGAR Database on the Securities and Exchange Commissions Internet site at www.sec.gov.

Please note that only one annual or semi-annual report or Proxy Statement or Notice of Internet Availability of Proxy Materials may be delivered to two or more shareholders of a Fund who share an address, unless the Fund has received instructions to the contrary. To request a separate copy of an annual report or semi-annual report or this Proxy Statement or Notice of Internet Availability of Proxy Materials, or for instructions as to how to request a separate copy of these documents or as to how to request a single copy if multiple copies of these documents are received, shareholders should contact the applicable Fund at the address and phone number set forth above.

YOUR VOTE IS IMPORTANT To avoid the unnecessary expense of further solicitation, we urge you to indicate voting instructions on the enclosed proxy card, and if received by mail, date and sign it and return it promptly in the envelope provided, no matter how large or small your holdings may be. If you submit a properly executed proxy but do not indicate how you wish your shares to be voted, your shares will be voted FOR the proposal.

BlackRock Closed-End Funds 100 Bellevue Parkway Wilmington, DE 19809 (800) 441-7762

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SUMMARY OF PROPOSAL AND FUNDS VOTING

The following table shows the Funds for which the nominees are standing for election.

Fund Name	Ticker	Nominees Standing for Election — Class 1(1)	Class 2	Class 3
BlackRock Apex Municipal Fund, Inc.	APX	X
BlackRock Florida Insured Municipal
Income Trust	BAF	X		X
BlackRock Florida Municipal Income
Trust	BBF	X		X
BlackRock Municipal Bond Trust	BBK	X		X
BlackRock Real Asset Equity Trust	BCF	X
BlackRock California Insured Municipal
Income Trust	BCK	X		X
BlackRock California Municipal Income
Trust II	BCL	X		X
BlackRock Broad Investment Grade 2009
Term Trust Inc.	BCT	X
BlackRock Enhanced Dividend
Achievers TM Trust	BDJ	X
BlackRock Strategic Dividend
Achievers TM Trust	BDT	X
BlackRock Dividend Achievers TM Trust	BDV	X
BlackRock California Insured Municipal
2008 Term Trust
Inc.	BFC	X
BlackRock Global Equity Income Trust	BFD	X
BlackRock Municipal Income Trust	BFK	X		X
BlackRock Florida Municipal 2020
Term Trust	BFO	X		X
BlackRock New York Municipal Income
Trust II	BFY	X		X
BlackRock California Municipal Income
Trust	BFZ	X		X
BlackRock Global Energy and Resources
Trust	BGR	X
BlackRock Global Floating Rate Income
Trust	BGT	X		X
BlackRock International Growth and
Income Trust	BGY	X
BlackRock Strategic Bond Trust	BHD	X
BlackRock Core Bond Trust	BHK	X
BlackRock Defined Opportunity Credit
Trust	BHL	X
BlackRock Virginia Municipal Bond
Trust	BHV	X		X
BlackRock High Yield Trust	BHY	X
BlackRock Florida Municipal Bond Trust	BIE	X		X
BlackRock California Municipal 2018
Term Trust	BJZ	X		X
BlackRock Municipal 2020 Term Trust	BKK	X		X
BlackRock Investment Quality Municipal
Trust Inc.	BKN	X		X
BlackRock Income Trust Inc.	BKT	X
BlackRock Municipal Income Trust II	BLE	X		X
BlackRock New York Municipal 2018
Term Trust	BLH	X		X
BlackRock New Jersey Municipal Bond
Trust	BLJ	X		X
BlackRock New York Insured Municipal
2008 Term Trust
Inc.	BLN	X
BlackRock Limited Duration Income
Trust	BLW	X
BlackRock Health Sciences Trust	BME	X
BlackRock Insured Municipal Term Trust
Inc.	BMT	X		X
BlackRock Income Opportunity Trust
Inc.	BNA	X
BlackRock New Jersey Municipal Income
Trust	BNJ	X		X
BlackRock New York Municipal Income
Trust	BNY	X		X
BlackRock Global Opportunities Equity
Trust	BOE	X
BlackRock Municipal 2018 Term Trust	BPK	X		X
BlackRock Preferred Opportunity Trust	BPP	X		X
BlackRock Pennsylvania Strategic
Municipal Trust	BPS	X		X
BlackRock New York Municipal Bond
Trust	BQH	X		X
BlackRock EcoSolutions Investment
Trust	BQR	X	X(3)	X(4)

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Fund Name	Ticker	Nominees Standing for Election — Class 1(1)	Class 3
BlackRock S&P Quality Rankings
Global
Equity Managed
Trust	BQY	X
BlackRock Florida Insured Municipal
2008
Term Trust	BRF	X
BlackRock Insured Municipal 2008
Term Trust Inc.	BRM	X
BlackRock Strategic Municipal Trust	BSD	X	X
BlackRock New York Insured Municipal
Income Trust	BSE	X	X
BlackRock Long-Term Municipal
Advantage Trust	BTA	X
BlackRock Preferred and Equity
Advantage Trust	BTZ	X	X
BlackRock World Investment Trust	BWC	X
BlackRock Insured Municipal Income
Trust	BYM	X	X
BlackRock California Municipal Bond
Trust	BZA	X	X
BlackRock Maryland Municipal Bond
Trust	BZM	X	X
BlackRock High Income Shares	HIS	X
BlackRock MuniAssets Fund, Inc.	MUA	X
BlackRock California Investment Quality
Municipal Trust
Inc.	RAA	X	X
BlackRock Florida Investment Quality
Municipal Trust	RFA	X	X
BlackRock New Jersey Investment Quality
Municipal Trust
Inc.	RNJ	X	X
BlackRock New York Investment Quality
Municipal Trust
Inc.	RNY	X	X

(1)	The Class I Board Member nominees are: G. Nicholas Beckwith, III, Kent Dixon, R. Glenn Hubbard, W. Carl Kester and Robert S. Salomon, Jr. These nominees are voted upon by the common and preferred shareholders of each respective Fund voting together as a single class, except for those Funds for which Mr. Kester is an AMPS Nominee, in which case Mr. Kester is voted upon by owners of AMPS voting as a separate class. Please see the description below under Proposal 1 TO ELECT BOARD MEMBER NOMINEES for a more detailed discussion regarding the AMPS Nominee.
(2)	The AMPS Nominee standing for election is W. Carl Kester. This nominee is voted upon by the owners of AMPS voting as a separate class. Please see the description below under Proposal 1 TO ELECT BOARD MEMBER NOMINEES for a more detailed discussion regarding the AMPS Nominee.
(3)	The BQR Class II Board Member nominees are: James T. Flynn and Karen. Robards. Please see the description below under Proposal 1 TO ELECT BOARD MEMBER NOMINEES for a detailed discussion regarding BQRs Board Member nominees.
(4)	The BQR Class III Board Member nominees are: Richard E. Cavanagh, Henry Gabbay and Jerrold B. Harris. Please see the description below under Proposal 1 TO ELECT BOARD MEMBER NOMINEES for a detailed discussion regarding BQRs Board Member nominees.

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PROPOSAL 1TO ELECT BOARD MEMBER NOMINEES

The purpose of Proposal 1 is to elect Board Member nominees for each Fund.

Nominees for each Fund. The Board of each Fund currently has 13 Board Members, except that the Board of BlackRock EcoSolutions Investment Trust (BQR) currently has six Board Members. The Funds divide their Board Members into three classes: Class I, Class II and Class III and generally only one class of Board Members stands for election each year. Except as noted below for BQR, only the Class I Board Members are standing for election this year. Each Class I Board Member elected at the meeting will serve until the later of 2011 or until his or her successor is elected and qualifies, or upon his or her earlier death, resignation, retirement or removal.

The Board of BQR currently is comprised of six members, not 13 members. In order to conform the membership of the BQR Board to the Boards of the other Funds, the Board of BQR has approved increasing its size to 13 members and reclassifying its existing Class I, Class II and Class III Board Members. As is the case with the other Funds, all BQR Class I Board Member nominees are up for election this year. However, several Class II and Class III Board Members are also up for election this year for BQR because: (a) these Board Member nominees are some of the seven new Board Members being added and therefore have not previously been elected by BQRs shareholders; or (b) these Board Member nominees were previously in Class I but were moved to a different class as part of the reclassification approved by the Board and therefore need to be elected by BQRs shareholders. The BQR nominees will serve in the following classes if elected: Class I G. Nicholas Beckwith, III, Kent Dixon, R. Glenn Hubbard, W. Carl Kester and Robert S. Salomon, Jr.; Class II Richard S. Davis, Frank J. Fabozzi, James T. Flynn and Karen P. Robards; and Class III Richard E. Cavanagh, Kathleen F. Feldstein, Henry Gabbay and Jerrold B. Harris. The term of office of each Board Member elected to Class I, Class II and Class III will expire the later of 2011, 2009 and 2010, respectively, or when his or her successor is elected and qualifies, or upon his or her earlier death, resignation, retirement or removal.

With respect to AMPS Funds, the owners of AMPS are entitled to vote as a separate class to elect two of the Board Members (the AMPS Nominees) for the AMPS Fund in which they own AMPS. This means that owners of common shares are not entitled to vote in connection with the election of the AMPS Nominees. However, the owners of common shares and the owners of AMPS, voting together as a single class, are entitled to elect the remainder of the Board Member nominees. Only W. Carl Kester is standing for election this year as an AMPS Nominee.

Please refer to the table below which identifies the nominees, including any AMPS Nominees, for election to the Board of each Fund.

Biographical Information. The table below sets forth certain biographical information about the nominees for all of the Funds in a single location. Please note that, except as described above for BQR, only the Class I nominees are standing for election for the Funds. Unless otherwise indicated, the address of each Board Member is 40 East 52nd Street, New York, New York 10022. Each Board Member was nominated by the Governance and Nominating Committee of the Board of each respective Fund. Richard E. Cavanagh was selected to serve as the Chair and Karen P. Robards was selected to serve as the Vice Chair of each Board.

BlackRock Broad Investment Grade 2009 Term Trust Inc. (BCT) holds substantially all of its assets through its wholly-owned subsidiary, BCT Subsidiary, Inc. (BCTS). The Board of BCTS is identical to the Board of BCT. Accordingly, Board Member nominees elected to the Board of BCT will be appointed by BCT to the Board of BCTS.

Richard S. Davis and Henry Gabbay are interested persons (as defined in the 1940 Act) of the Funds by virtue of their current or former positions with BlackRock Advisors, LLC, BlackRock Capital Management, Inc. or BlackRock Financial Management, Inc. (collectively, BlackRock Advisors), each a wholly owned subsidiary of BlackRock, Inc. (BlackRock). All of the closed-end registered investment companies advised by BlackRock Advisors, including the Funds, are referred to collectively as the Fund Complex.

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				Number of BlackRock- Advised Funds and Portfolios Overseen
	Position(s) Held with Funds
Name, Address and Year of Birth		Length of Time Served*	Principal Occupation(s) During Past Five Years		Public Directorships
Non-Interested Directors
Richard E.	Director/	2007 to	Trustee, Aircraft Finance Trust since	113 Funds	Arch
Cavanagh (4)	Trustee	present	1999; Director, The Guardian Life	110	Chemical
40 East 52nd	and		Insurance Company of America	Portfolios	(chemical and
Street	Chairman of		since 1998; Chairman and Trustee,		allied
New York, NY	the Boards		Educational Testing Service since		products)
10022			1997; Director, The Fremont Group
			since 1996; Formerly President and
1946			Chief Executive Officer of The
			Conference Board, Inc. (global
			business research organization)
			from 1995 to 2007.
Karen.	Director/	2007 to	Partner of Robards & Company, LLC	112 Funds	AtriCure, Inc.
Robards (3)	Trustee and Vice	present	(financial advisory firm) since	109	(medical
40 East 52nd	Chair of the		1987; Co-founder and Director of	Portfolios	devices);
Street	Boards		the Cooke Center for Learning and		Care
New York, NY			Development (a not-for-profit		Investment
10022			organization) since 1987; Formerly		Trust, Inc.
			Director of Enable Medical Corp.		(health care
1950			from 1996 to 2005; Formerly an		REIT)
			investment banker at Morgan
			Stanley from 1976 to 1987.
G. Nicholas	Director/	2007 to	Chairman and Chief Executive	112 Funds	None
Beckwith, III (1)	Trustee	present	Officer, Arch Street Management,	109
40 East 52nd			LLC (Beckwith Family Foundation)	Portfolios
Street			and various Beckwith property
New York, NY			companies since 2005; Chairman
10022			of the Board of Directors, University
			of Pittsburgh Medical Center since
1945			2002; Board of Directors, Shady
			Side Hospital Foundation since
			1977; Board of Directors, Beckwith
			Institute for Innovation In Patient
			Care since 1991; Member, Advisory
			Council on Biology and Medicine,
			Brown University since 2002;
			Trustee, Claude Worthington
			Benedum Foundation (charitable
			foundation) since 1989; Board of
			Trustees, Chatham College since
			1981; Board of Trustees, University
			of Pittsburgh since 2002; Emeritus
			Trustee, Shady Side Academy since
			1977; Formerly Chairman and
			Manager, Penn West Industrial
			Trucks LLC (sales, rental and
			servicing of material handling
			equipment) from 2005 to 2007;
			Formerly Chairman, President and
			Chief Executive Officer, Beckwith
			Machinery Company (sales, rental
			and servicing of construction and
			equipment) from 1985 to 2005;
			Formerly Board of Directors,
			National Retail Properties (REIT)
			from 2006 to 2007.

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				Number of BlackRock- Advised Funds and Portfolios Overseen
	Position(s) Held with Funds
Name, Address and Year of Birth		Length of Time Served*	Principal Occupation(s) During Past Five Years		Public Directorships
Kent Dixon (1)	Director/	2007 to	Consultant/Investor since 1988.	113 Funds	None
40 East 52nd	Trustee	present		110
Street				Portfolios
New York, NY
10022
1937
Frank J. Fabozzi (2)	Director/	2007 to	Consultant/Editor of The Journal of	113 Funds	None
40 East 52nd	Trustee	present	Portfolio Management since 2006;	110
Street			Professor in the Practice of Finance	Portfolios
New York, NY			and Becton Fellow, Yale University,
10022			School of Management, since
			2006; Formerly Adjunct Professor
1948			of Finance and Becton Fellow, Yale
			University from 1994 to 2006.
Kathleen F.	Director/	2007 to	President of Economics Studies,	113 Funds	The
Feldstein	Trustee	present	Inc. (private economic consulting	110	McClatchy
40 East 52nd			firm) since 1987; Chair, Board of	Portfolios	Company
Street			Trustees, McLean Hospital since		(publishing)
New York, NY			2000; Member of the Corporation
10022			of Partners Community Healthcare,
			Inc. since 2005; Member of the
1941			Corporation of Partners HealthCare
			since 1995; Member of the
			Corporation of Sherrill House
			(health care) since 1990; Trustee,
			Museum of Fine Arts, Boston since
			1992; Member of the Visiting
			Committee to the Harvard
			University Art Museum since 2003;
			Trustee, The Committee for
			Economic Development (research
			organization) since 1990; Member
			of the Advisory Board to the
			International School of Business,
			Brandeis University since 2002;
			Formerly Director of Bell South
			(communications) from 1998 to
			2006; Formerly Director of Ionics
			(water purification) from 1992 to
			2005; Formerly Director of John
			Hancock Financial Services from
			1994 to 2003; Formerly Director of
			Knight Ridder (media) from 1998 to
			2006.
James T. Flynn (3)	Director/	2007 to	Formerly Chief Financial Officer of	112 Funds	None
40 East 52nd	Trustee	present	JP Morgan & Co., Inc. from 1990 to	109
Street			1995.	Portfolios
New York, NY
10022
1939

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				Number of BlackRock- Advised Funds and Portfolios Overseen
	Position(s) Held with Funds
Name, Address and Year of Birth		Length of Time Served*	Principal Occupation(s) During Past Five Years		Public Directorships
Jerrold B. Harris (4)	Director/	2007 to	Trustee, Ursinus College since	112 Funds	BlackRock-
40 East 52nd	Trustee	present	2000; Director, Troemner LLC	109	Kelso Capital
Street			(scientific equipment) since 2000.	Portfolios	Corp.
New York, NY
10022
1942
R. Glenn	Director/	2007 to	Dean of Columbia Business School	113 Funds	ADP (data
Hubbard (1)	Trustee	present	since 2004; Columbia faculty	110	and
40 East 52nd			member since 1988; Formerly Co-	Portfolios	information
Street			Director of Columbia Business		services),
New York, NY			Schools Entrepreneurship Program		KKR Financial
10022			from 1997 to 2004; Visiting		Corporation
			Professor at the John F. Kennedy		(finance),
1958			School of Government at Harvard		Duke Realty
			University and the Harvard		(real estate),
			Business School since 1985 and		Metropolitan
			at the University of Chicago since		Life Insurance
			1994; Formerly Chairman of the		Company
			U.S. Council of Economic Advisers		(insurance),
			under the President of the United		Information
			States from 2001 to 2003.		Services
					Group
					(media/
					technology)
W. Carl	Director/	2007 to	Mizuho Financial Group Professor	112 Funds	None
Kester (1) (2)	Trustee	present	of Finance, Harvard Business	109
40 East 52nd			School; Deputy Dean for Academic	Portfolios
Street			Affairs since 2006; Unit Head,
New York, NY			Finance, Harvard Business School
10022			from 2005 to 2006; Senior
			Associate Dean and Chairman of
1951			the MBA Program of Harvard
			Business School from 1999 to
			2005; Member of the faculty of
			Harvard Business School since
			1981; Independent Consultant
			since 1978.
Robert S.	Director/	2007 to	Formerly Principal of STI	112 Funds	None
Salomon, Jr. (1)	Trustee	present	Management LLC (investment	109
40 East 52nd			adviser) from 1994 to 2005.	Portfolios
Street
New York, NY
10022
1936

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				Number of BlackRock- Advised Funds and Portfolios Overseen
	Position(s) Held with Funds
Name, Address and Year of Birth		Length of Time Served*	Principal Occupation(s) During Past Five Years		Public Directorships
Interested Directors
Richard S. Davis	Director/	2007 to	Managing Director, BlackRock, Inc.	185 Funds	None
40 East 52nd	Trustee	present	since 2005; Formerly Chief	295
Street			Executive Officer, State Street	Portfolios
New York, NY			Research & Management Company
10022			from 2000 to 2005; Formerly
			Chairman of the Board of Trustees,
1945			State Street Research Mutual
			Funds from 2000 to 2005;
			Formerly Chairman, SSR Realty
			from 2000 to 2004.
Henry Gabbay (4)	Director/	2007 to	Consultant, BlackRock, Inc. since	184 Funds	None
40 East 52nd	Trustee	present	2007; Formerly Managing Director,	294
Street			BlackRock, Inc. from 1989 to	Portfolios
New York, NY			2007; Formerly Chief
10022			Administrative Officer, BlackRock
			Advisors, LLC from 1998 to 2007;
1947			Formerly President of BlackRock
			Funds and BlackRock Bond
			Allocation Target Shares from 2005
			to 2007; Formerly Treasurer of
			certain closed-end funds in the
			BlackRock fund complex from 1989
			to 2006.

| * | Following the combination of Merrill Lynch Investment Managers, L.P. ("MLIM") and BlackRock in September 2006, the various legacy MLIM and legacy BlackRock fund boards were realigned and consolidated into three new fund boards in 2007. As a result, although the chart shows certain Board Members as joining the Boards in 2007, each Board Member first became a member of the board of directors/trustees of other legacy MLIM or legacy BlackRock funds as follows: G. Nicholas Beckwith, III since 1999; Richard E. Cavanagh since 1994; Kent Dixon since 1988; Frank J. Fabozzi since 1988; Kathleen F. Feldstein since 2005; James T. Flynn since 1996; Jerrold B. Harris since 1999; R. Glenn Hubbard since 2004; W. Carl Kester since 1998; Karen P. Robards since 1998 and Robert S. Salomon, Jr. since 1996.
Board Members serve until their resignation, removal or death, or until December 31 of the year in which they turn 72. |
| --- | --- |
| | Messrs. Davis and Gabbay are both interested persons, as defined in the 1940 Act, of the Funds based on their positions with BlackRock and its affiliates. |
| (1) | Class I Board Member nominee. |
| (2) | AMPS Nominee. |
| (3) | BQR Class II Board Member nominee. |
| (4) | BQR Class III Board Member nominee. |

Compensation. Information relating to compensation paid to Board Members who are not interested persons, as defined in the 1940 Act, (the Independent Board Members) for each Funds most recent fiscal year is set forth in Appendix B .

Equity Securities Owned by the Board Members. Information relating to the amount of equity securities owned by the Board Members in the Funds that they are nominated to oversee, as well as certain other funds in the Fund Complex, as of May 31, 2008 is set forth in Appendix C .

Attendance of Board Members at Annual Shareholders Meetings. It is the policy of all the Funds to encourage Board Members to attend the annual shareholders meeting. All of the Board Members of each Fund attended last years annual shareholders meeting.

Board Meetings. Information relating to the number of times that the Boards met during each Funds most recent fiscal year is set forth in Appendix D .

Standing Committees of the Boards. Information relating to the various standing committees of the Boards is set forth in Appendix E .

In addition to the standing committees identified in Appendix E, the Boards of the AMPS Funds established an Ad Hoc Committee on AMPS (the AMPS Committee) in March 2008. The current members of the AMPS Committee are: Richard E. Cavanagh, Frank J. Fabozzi, Henry Gabbay, W. Carl Kester and Karen P. Robards. Since February 2008, most auction rate preferred shares, including the AMPS, have been unable to hold successful auctions and AMPS holders have suffered reduced liquidity. The AMPS Committee was formed for the purpose of monitoring issues arising from this

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recent market turmoil and overseeing efforts to provide liquidity to the AMPS holders. The AMPS Committee has met eight times since its formation. To date, the BlackRock closed-end funds, including the AMPS Funds, that have issued auction market preferred shares have redeemed more than $2.4 billion of these shares, which represents approximately 25% of all auction market preferred shares outstanding for the BlackRock closed-end funds. In addition to these redemptions, the AMPS Funds are currently exploring alternative forms of leverage in order to provide liquidity to holders of AMPS, including the development of a put feature for the AMPS or issuing a new form of preferred stock that includes a put feature, which would make each eligible for purchase by money market funds.

Compliance with Section 16(a) of the Securities Exchange Act of 1934 (the Exchange Act). Section 16(a) of the Exchange Act requires the Funds directors/trustees, executive officers, persons who own more than ten percent of a registered class of a Funds equity securities, BlackRock Advisors and certain officers of BlackRock Advisors, to file reports on holdings of, and transactions in, Fund shares with the Securities and Exchange Commission (SEC) and to furnish the Funds with copies of all such reports. Based solely on a review of copies of such reports furnished to the relevant Fund and representations from these reporting persons, each Fund believes that its directors/trustees, executive officers, ten percent holders, BlackRock Advisors and certain officers of BlackRock Advisors met all applicable SEC filing requirements except for late Forms 3 and 4 relating to the Funds most recently concluded fiscal year, as listed in Appendix J for Funds with a fiscal year end of June 30 or earlier, or relating to the period between the close of the Funds most recently concluded fiscal year and the date of this Proxy Statement, as listed in Appendix K for Funds with a fiscal year end after June 30.

Additionally, based on a review of copies of such reports furnished to the relevant Fund and representations from these reporting persons, each municipal fixed income Fund believes that Peter Hayes, an officer of BlackRock Advisors required to file reports under Section 16(a), met all applicable SEC filing requirements except for the late Forms 3 relating to the Funds most recently concluded fiscal year, or relating to the period between the close of the Funds most recently concluded fiscal year and the date of this Proxy Statement, as applicable.

These late filings were primarily due to an administrative oversight following BlackRocks acquisition of Merrill Lynch Investment Managers, L. P. and the subsequent integration of back-office systems.

Officers of the Funds. Information about the officers of each Fund, including their year of birth and their principal occupations during the past five years, is set forth in Appendix G .

Indemnification of Board Members and Officers. The governing documents of each Fund generally provide that, to the extent permitted by applicable law, the Fund will indemnify its Board Members and officers against liabilities and expenses incurred in connection with litigation in which they may be involved because of their offices with the Fund unless, as to liability to the Fund or its investors, it is finally adjudicated that they engaged in willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in their offices. In addition, the Fund will not indemnify Board Members with respect to any matter as to which Board Members did not act in good faith in the reasonable belief that his or her action was in the best interest of the Fund or, in the case of any criminal proceeding, as to which Board Members did not have reasonable cause to believe that the conduct was unlawful. Indemnification provisions contained in a Funds governing documents are subject to any limitations imposed by applicable law.

The funds in the Fund Complex have also entered into a separate indemnification agreement with the Board Members of each Board (the Indemnification Agreement). The Indemnification Agreement (i) extends the indemnification provisions contained in a funds governing documents to Board Members who leave that funds Board and serve on an advisory board of a different fund in the Fund Complex; (ii) sets in place the terms of the indemnification provisions of a funds governing documents once a Board Member retires from a Board and (iii) in the case of Board Members who left the Board of a fund in connection with or prior to the Board consolidation that occurred last year as a result of the merger of BlackRock and Merrill Lynch & Co., Inc.s investment management business, clarifies that that fund continues to indemnify the Board Member for claims arising out of his or her past service to that fund.

Your Board recommends that you vote FOR the election of each nominee to the Board of your Fund(s).

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VOTE REQUIRED AND MANNER OF VOTING PROXIES

A quorum of shareholders is required to take action at each meeting. The holders of a majority of the shares entitled to vote on any matter at a meeting present in person or by proxy shall constitute a quorum for purposes of conducting business on such matter. The affirmative vote of a plurality of the shares present for each Fund at the meeting at which a quorum is present and entitled to vote on a nominee is necessary to approve the respective nominee under Proposal 1 for each respective Fund.

Votes cast by proxy or in person at each meeting will be tabulated by the inspectors of election appointed for that meeting. The inspectors of election, who may be employees of a Fund, will determine whether or not a quorum is present at the meeting. The inspectors of election will treat abstentions and broker non-votes as present for purposes of determining a quorum. Broker non-votes occur when shares held by brokers or nominees, typically in street name, as to which proxies have been returned but (a) voting instructions have not been received from the beneficial owners or persons entitled to vote and (b) the broker or nominee does not have discretionary voting power or elects not to exercise discretion on a particular matter. Shares of AMPS of any Fund held in street name may be counted for purposes of establishing a quorum of that Fund if no instructions are received one business day before the applicable meeting or, if adjourned, one business day before the day to which the meeting is adjourned.

If you hold your shares directly (not through a broker-dealer, bank or other financial institution) and if you return a properly executed proxy card that does not specify how you wish to vote on a proposal, your shares will be voted FOR the Board Member nominees in Proposal 1.

Broker-dealer firms holding shares of a Fund in street name for the benefit of their customers and clients will request the instructions of such customers and clients on how to vote their shares on Proposal 1 before the meetings. The Funds understand that, under the rules of the New York Stock Exchange (the NYSE), such broker-dealer firms may, without instructions from their customers and clients, grant authority to the proxies designated to vote on the election of Board Member nominees in Proposal 1 if no instructions have been received prior to the date specified in the broker-dealer firms request for voting instructions. A properly executed proxy card or other authorization by a beneficial owner of Fund shares that does not specify how the beneficial owners shares should be voted on Proposal 1 may be deemed an instruction to vote such shares in favor of the proposal. Beneficial owners who do not provide proxy instructions or who do not return a proxy card may have their shares voted by broker-dealer firms in favor of Proposal 1.

If you hold shares of a Fund through a bank or other financial institution or intermediary (called a service agent) that has entered into a service agreement with the Fund or a distributor of the Fund, the service agent may be the record holder of your shares. At the meetings, a service agent will vote shares for which it receives instructions from its customers in accordance with those instructions. A properly executed proxy card or other authorization by a shareholder that does not specify how the shareholders shares should be voted on a proposal may be deemed to authorize a service provider to vote such shares in favor of the proposal. Depending on its policies, applicable law or contractual or other restrictions, a service agent may be permitted to vote shares with respect to which it has not received specific voting instructions from its customers. In those cases, the service agent may, but is not be required to, vote such shares in the same proportion as those shares for which the service agent has received voting instructions. This practice is commonly referred to as echo voting.

If you beneficially own shares that are held in street name through a broker-dealer or that are held of record by a service agent, and if you do not give specific voting instructions for your shares, they may not be voted at all or, as described above, they may be voted in a manner that you may not intend. Therefore, you are strongly encouraged to give your broker-dealer or service agent specific instructions as to how you want your shares to be voted.

Approval of Proposal 1 by shareholders of a Fund will occur only if a sufficient number of votes are cast FOR the proposal at the Funds meeting. Abstentions and broker non-votes will not be counted as votes cast. Because each Fund requires a plurality of votes to pass Proposal 1, abstentions and broker non-votes will not have an effect on the vote for Proposal 1.

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INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board Members, including a majority of the Independent Board Members, of each Fund have selected Deloitte & Touche LLP (D&T) as the independent registered public accounting firm for the Funds. D&T, in accordance with Independence Standards Board Standard No. 1 (ISB No. 1), has confirmed to each applicable Audit Committee that it is an independent registered public accounting firm with respect to each Fund.

No representatives of D&T will be present at the meeting.

Each Audit Committee has discussed with D&T its independence with respect to the Fund and certain matters required to be discussed by Statement on Auditing Standard No. 61, as currently modified or supplemented. Each Audit Committee has considered whether the provision of non-audit services by the Funds independent registered public accounting firm is compatible with maintaining the independence of that registered public accounting firm. Each Audit Committee also reviews and discusses the audit of the Funds financial statements with Fund management and the independent registered public accounting firm. If any material concerns arise during the course of the audit and the preparation of the audited financial statements mailed to shareholders and included in the Funds Annual Report to Shareholders, the Audit Committee would be notified by Fund management or the independent registered public accounting firm. The Audit Committees received no such notifications for any Fund. Following each Audit Committees review and discussion of the Funds independent registered public accounting firm, each Audit Committee recommended to its respective Board that the Funds audited financial statements for the Funds most recently completed fiscal year (each Funds fiscal year end is set forth in Appendix H ) for which audited financial statements are available be included in each Funds Annual Report to Shareholders.

Appendix H sets forth for each Fund the fees billed by that Funds independent registered public accounting firm for the two most recent fiscal years for all audit and non-audit services provided directly to the Fund. The fee information in Appendix H is presented under the following captions:

(a) Audit Feesfees related to the audit and review of the financial statements included in annual reports and registration statements, and other services that are normally provided in connection with statutory and regulatory filings or engagements, including out-of-pocket expenses.

(b) Audit-Related Feesfees related to assurance and related services that are reasonably related to the performance of the audit or review of financial statements, but not reported under Audit Fees, including accounting consultations, agreed-upon procedure reports, attestation reports, comfort letters, out-of-pocket expenses and internal control reviews not required by regulators.

(c) Tax Feesfees associated with tax compliance, tax advice and tax planning, including services relating to the filing or amendment of federal, state or local income tax returns, regulated investment company qualification reviews, tax distribution and analysis reviews and miscellaneous tax advice.

(d) All Other Feesfees for products and services provided to the Fund other than those reported under Audit Fees, Audit-Related Fees and Tax Fees.

Each Audit Committee is required to approve all audit engagement fees and terms for the Fund. Each Audit Committee also is required to consider and act upon (i) the provision by any independent accountant of any non-audit services for any Fund, and (ii) the provision by any independent accountant of non-audit services to Fund service providers and their affiliates (Affiliated Service Providers) to the extent that such approval (in the case of this clause (ii)) is required under applicable regulations of the SEC. The Audit Committee has implemented policies and procedures by which such services may be approved other than by the full Audit Committee. See Appendix H to this Proxy Statement for information about the fees paid by the Funds, their investment advisers, and Affiliated Service Providers to each Funds independent registered public accounting firm.

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The Audit Committee of each Fund complies with applicable laws and regulations with regard to the pre-approval of services. Audit, audit-related and tax compliance services provided to a Fund on an annual basis require specific pre-approval by the Funds Audit Committee. As noted above, the Audit Committee also must approve other non-audit services provided to a Fund and those non-audit services provided to the Funds Affiliated Service Providers that relate directly to the operations and financial reporting of the Fund. Certain of these non-audit services that the Audit Committee believes are (a) consistent with the SECs auditor independence rules and (b) routine and recurring services that will not impair the independence of the independent registered public accounting firm may be approved by the Audit Committee without consideration on a specific case-by-case basis (general pre-approval). The Audit Committee is informed of each service approved subject to general pre-approval at the next regularly scheduled in-person board meeting.

For each Funds two most recent fiscal years, there were no services rendered by D&T to the Funds for which the pre-approval requirement was waived.

Each Audit Committee has considered whether the provision of non-audit services that were rendered by D&T to BlackRock Advisors and Affiliated Service Providers that were not pre-approved (not requiring pre-approval) is compatible with maintaining such auditors independence. All services provided by D&T to each Fund, BlackRock Advisors or Affiliated Service Providers that required pre-approval were pre-approved as required.

The Audit Committee of each Fund, except BQR, consists of the following Board Members: Karen P. Robards (Chair), Kent Dixon, Frank J. Fabozzi, James T. Flynn, W. Carl Kester and Robert S. Salomon, Jr. The Audit Committee of BQR consists of the following Board Members: Richard E. Cavanagh (Chair), Frank J. Fabozzi and Kent Dixon.

ADDITIONAL INFORMATION

5% Share Ownership

As of May 31, 2008, to the best of the Funds knowledge, the persons listed in Appendix I owned beneficially or of record the amounts of the Funds indicated.

Submission of Shareholder Proposals

A shareholder proposal intended to be presented at a future meeting of shareholders of a Fund must be received at the offices of the Fund, 40 East 52nd Street, New York, New York 10022-5911, a reasonable time before the Fund begins to print and mail its proxy materials. Timely submission of a proposal does not guarantee that such proposal will be included in a proxy statement.

The Funds anticipate holding their next annual meeting of shareholders in August 2009. If a shareholder intends to present a proposal at the 2009 annual meeting of shareholders of these Funds and desires to have the proposal included in the Funds proxy statement and form of proxy for that meeting pursuant to Rule 14a-8 under the Exchange Act, the shareholder must deliver the proposal to the offices of the appropriate Fund by April 3, 2009.

Shareholders who do not wish to submit a proposal for inclusion in the Funds proxy statement and form of proxy for the 2009 annual meeting in accordance with Rule 14a-8 may submit a proposal for consideration at the 2009 annual meeting in accordance with the By-laws of the Funds. The By-laws for all of the Funds generally require that advance notice be given to the Fund in the event a shareholder desires to transact any business from the floor at an annual meeting of shareholders. Notice of any such business must be in writing and received at the Funds principal executive office between Friday, May 15, 2009 and Saturday, June 14, 2009.

For all Funds, written proposals and notices should be sent to the Secretary of the Fund, 40 East 52nd Street, New York, New York 10022.

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Shareholder Communications

Shareholders who want to communicate with the Board or any individual Board Member should write their Fund to the attention of the Secretary, 40 East 52nd Street, New York, New York 10022-5911. Shareholders may communicate with the Boards electronically by sending an email to [email protected]. The communication should indicate that you are a Fund shareholder. If the communication is intended for a specific Board Member and so indicates, it will be sent only to that Board Member. If a communication does not indicate a specific Board Member, it will be sent to the Chair of the Governance and Nominating Committee and the outside counsel to the Independent Board Members for further distribution as deemed appropriate by such persons.

Additionally, shareholders with complaints or concerns regarding accounting matters may address letters to the Funds Chief Compliance Officer (CCO), 40 East 52nd Street, New York, New York 10022-5911. Shareholders who are uncomfortable submitting complaints to the CCO may address letters directly to the Chair of the Audit Committee of the Board that oversees the Fund. Such letters may be submitted on an anonymous basis.

Expense of Proxy Solicitation

The cost of preparing, printing and mailing the enclosed proxy, accompanying notice and this Proxy Statement and costs in connection with the solicitation of proxies will be borne by the Funds. Additional out-of-pocket costs, such as legal expenses and auditor fees, incurred in connection with the preparation of this Proxy Statement, also will be borne by the Funds. Costs that are borne by the Funds collectively will be allocated among the Funds on the basis of a combination of their respective net assets and number of shareholder accounts, except when direct costs can be reasonably attributed to one or more specific Funds.

Solicitation may be made by letter or telephone by officers or employees of BlackRock Advisors, or by dealers and their representatives. Brokerage houses, banks and other fiduciaries may be requested to forward proxy solicitation material to their principals to obtain authorization for the execution of proxies. The Funds and BlackRock will reimburse brokerage firms, custodians, banks and fiduciaries for their expenses in forwarding this Proxy Statement and proxy materials to the beneficial owners of each Funds shares. The Funds and BlackRock have retained The Altman Group, Inc. (Altman), 60 East 42nd Street, Suite 405, New York, New York 10165, a proxy solicitation firm, to assist in the printing and distribution of proxy materials and the solicitation and tabulation of proxies. In addition, Broadridge Financial Solutions, Inc. (Broadridge), 51 Mercedes Way, Edgewood, New York 11717, will assist the Funds in the distribution of proxy materials. It is anticipated that Altman and Broadridge will be paid approximately $33,432 and $915,447, respectively, for such services (including reimbursements of out-of-pocket expenses). Altman may solicit proxies personally and by telephone. Each Funds portion of the foregoing expenses is not subject to any cap or voluntary agreement to waive fees and/or reimburse expenses that may otherwise apply to that Fund.

Fiscal Year

The fiscal year end of certain Funds was amended at a meeting of the Boards in May 2008. However, all information in this Proxy Statement, unless otherwise noted, relates to the pre-amended fiscal year end. The pre-amended and post-amended fiscal year end of each Fund is as set forth in Appendix H .

Privacy Principles of the Funds

BlackRock is committed to maintaining the privacy of its current and former fund investors and individual clients (collectively, Clients) and to safeguarding their non-public personal information. The following information is provided to help you understand what personal information BlackRock collects, how we protect that information and why in certain cases we share such information with select parties.

If you are located in a jurisdiction where specific laws, rules or regulations require BlackRock to provide you with additional or different privacy-related rights beyond what is set forth below, then BlackRock will comply with those specific laws, rules or regulations.

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BlackRock obtains or verifies personal non-public information from and about you from different sources, including the following: (i) information we receive from you or, if applicable, your financial intermediary, on applications, forms or other documents; (ii) information about your transactions with us, our affiliates, or others; (iii) information we receive from a consumer reporting agency; and (iv) from visits to our web sites.

BlackRock does not sell or disclose to non-affiliated third parties any non-public personal information about its Clients, except as permitted by law or as is necessary to respond to regulatory inquiries or service Client accounts. These non-affiliated third parties are required to protect the confidentiality and security of this information and to use it only for its intended purpose.

We may share information with our affiliates to service your account or to provide you with information about other BlackRock products or services that may be of interest to you. In addition, BlackRock restricts access to non-public personal information about its Clients to those BlackRock employees with a legitimate business need for the information. BlackRock maintains physical, electronic and procedural safeguards that are designed to protect the non-public personal information of its Clients, including procedures relating to the proper storage and disposal of such information.

General

Management does not intend to present and does not have reason to believe that any other items of business will be presented at the meeting. However, if other matters are properly presented to the meeting for a vote, the proxies will be voted by the persons acting under the proxies upon such matters in accordance with their judgment of the best interests of the Fund.

A list of shareholders entitled to be present and to vote at the meeting will be available at the offices of the Funds, 40 East 52nd Street, New York, New York 10022-5911, for inspection by any shareholder during regular business hours beginning ten days prior to the date of the meeting.

Failure of a quorum to be present at any meeting will necessitate adjournment. The persons named in the enclosed proxy may also move for an adjournment of any meeting to permit further solicitation of proxies with respect to the proposal if they determine that adjournment and further solicitation are reasonable and in the best interests of shareholders. Any such adjournment will require the affirmative vote of a majority of the shares of the Fund present in person or by proxy and entitled to vote at the time of the meeting to be adjourned. Any adjourned meeting or meetings may be held without the necessity of another notice. The persons named as proxies will vote in favor of any such adjournment if they believe the adjournment and additional proxy solicitation are reasonable and in the best interests of the Funds shareholders. For purposes of determining the presence of a quorum, abstentions and broker non-votes will be treated as shares that are present at the meeting.

Please vote promptly by signing and dating each enclosed proxy card, and if received by mail, returning it in the accompanying postage-paid return envelope OR by following the enclosed instructions to provide voting instructions by telephone or over the Internet.

By Order of the Boards,

Howard B. Surloff Secretary of the Funds August 1, 2008

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Appendix A

Fund Information

The following table lists, with respect to each Fund, the total number of shares outstanding and the net assets of the Fund on July 14, 2008, the record date for voting at the meeting. All Funds have a policy to encourage Board Members to attend the annual meeting.

Ticker	Fund	Form of Organization	Total Common Shares Outstanding	Total AMPS Outstanding	Net Assets ($)*
BBF	BlackRock Florida Municipal Income Trust	Delaware Statutory Trust	6,688,169	1,982	145,845,992
BBK	BlackRock Municipal Bond Trust	Delaware Statutory Trust	10,326,123	3,220	226,960,260
BCF	BlackRock Real Asset Equity Trust	Delaware Statutory Trust	56,708,028	N/A	1,141,227,452
BCK	BlackRock California Insured Municipal Income Trust	Delaware Statutory Trust	5,278,087	1,502	113,017,219
BCL	BlackRock California Municipal Income Trust II	Delaware Statutory Trust	7,999,789	2,390	172,816,818
BCT	BlackRock Broad Investment Grade 2009 Term Trust Inc.	Maryland Corporation	2,957,093	N/A	39,671,984
BDJ	BlackRock Enhanced Dividend Achievers TM Trust	Delaware Statutory Trust	69,778,138	N/A	708,376,348
BDT	BlackRock Strategic Dividend Achievers TM Trust	Delaware Statutory Trust	26,908,028	N/A	300,451,392
BDV	BlackRock Dividend Achievers TM Trust	Delaware Statutory Trust	54,518,315	N/A	600,003,203
BFC	BlackRock California Insured Municipal 2008 Term Trust Inc.	Maryland Corporation	10,407,093	N/A	157,839,575
BFD	BlackRock Global Equity Income Trust	Delaware Statutory Trust	44,995,192	N/A	665,045,957
BFK	BlackRock Municipal Income Trust	Delaware Statutory Trust	44,193,305	11,725	873,608,808
BFO	BlackRock Florida Municipal 2020 Term Trust	Delaware Statutory Trust	5,562,128	1,716	122,975,553
BFY	BlackRock New York Municipal Income Trust II	Delaware Statutory Trust	4,940,705	1,786	115,705,242
BFZ	BlackRock California Municipal Income Trust	Delaware Statutory Trust	15,139,369	4,036	317,220,824
BGR	BlackRock Global Energy and Resources Trust	Delaware Statutory Trust	29,766,217	N/A	1,239,750,497
BGT	BlackRock Global Floating Rate Income Trust	Delaware Statutory Trust	23,545,239	2,352	441,404,923
BGY	BlackRock International Growth and Income Trust	Delaware Statutory Trust	106,306,178	N/A	1,759,456,179
BHD	BlackRock Strategic Bond Trust	Delaware Statutory Trust	7,058,401	N/A	90,714,462

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Ticker	Fund	Form of Organization	Total Common Shares Outstanding	Total AMPS Outstanding	Net Assets ($)*
BHV	BlackRock Virginia Municipal Bond Trust	Delaware Statutory Trust	1,552,453	487	35,792,652
BHY	BlackRock High Yield Trust	Delaware Statutory Trust	6,418,859	N/A	44,407,766
BIE	BlackRock Florida Municipal Bond Trust	Delaware Statutory Trust	3,333,337	1,047	76,286,237
BJZ	BlackRock California Municipal 2018 Term Trust	Delaware Statutory Trust	6,433,028	2,221	148,297,621
BKK	BlackRock Municipal 2020 Term Trust	Delaware Statutory Trust	20,236,628	6,954	458,087,703
BKN	BlackRock Investment Quality Municipal Trust Inc.	Maryland Corporation	16,917,047	5,078	357,039,720
BKT	BlackRock Income Trust Inc.	Maryland Corporation	63,942,535	N/A	427,732,024
BLE	BlackRock Municipal Income Trust II	Delaware Statutory Trust	23,146,588	6,642	487,250,890
BLH	BlackRock New York Municipal 2018 Term Trust	Delaware Statutory Trust	3,633,028	1,256	88,089,362
BLJ	BlackRock New Jersey Municipal Bond Trust	Delaware Statutory Trust	2,300,925	768	52,158,066
BLN	BlackRock New York Insured Municipal 2008 Term Trust Inc.	Maryland Corporation	11,257,093	N/A	170,448,750
BLW	BlackRock Limited Duration Income Trust	Delaware Statutory Trust	36,889,650	N/A	621,010,202
BME	BlackRock Health Sciences Trust	Delaware Statutory Trust	7,591,500	N/A	208,658,893
BMT	BlackRock Insured Municipal Term Trust Inc.	Maryland Corporation	25,885,639	2,000	318,409,540
BNA	BlackRock Income Opportunity Trust, Inc.	Maryland Corporation	34,449,693	N/A	360,557,409
BNJ	BlackRock New Jersey Municipal Income Trust	Delaware Statutory Trust	7,532,203	2,419	169,661,933
BNY	BlackRock New York Municipal Income Trust	Delaware Statutory Trust	12,679,232	3,834	276,518,914
BOE	BlackRock Global Opportunities Equity Trust	Delaware Statutory Trust	12,634,026	N/A	326,134,603
BPK	BlackRock Municipal 2018 Term Trust	Delaware Statutory Trust	15,908,028	5,354	361,181,304
BPP	BlackRock Preferred Opportunity Trust	Delaware Statutory Trust	18,391,631	4,416	416,069,750
BPS	BlackRock Pennsylvania Strategic Municipal Trust	Delaware Statutory Trust	2,023,459	673	44,267,041
BQH	BlackRock New York Municipal Bond Trust	Delaware Statutory Trust	2,760,056	896	63,405,755
BQR	BlackRock EcoSolutions Investment Trust	Delaware Statutory Trust	11,756,964	N/A	220,045,463
BQY	BlackRock S&P Quality Rankings Global Equity Managed Trust	Delaware Statutory Trust	6,033,028	N/A	97,318,622
BRF	BlackRock Florida Insured Municipal 2008 Term Trust	Massachusetts Business Trust	8,707,093	N/A	130,566,606

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			Total
			Common
			Shares	Total AMPS	Net
Ticker	Fund	Form of Organization	Outstanding	Outstanding	Assets ($)*
BRM	BlackRock Insured Municipal 2008 Term Trust Inc.	Maryland Corporation	27,207,093	N/A	411,730,038
BSD	BlackRock Strategic Municipal Trust	Delaware Statutory Trust	7,288,024	1,910	144,996,464
BSE	BlackRock New York Insured Municipal Income Trust	Delaware Statutory Trust	6,474,946	1,667	133,288,131
BTA	BlackRock Long-Term Municipal Advantage Trust	Delaware Statutory Trust	13,345,151	N/A	165,272,490
BTZ	BlackRock Preferred and Equity Advantage Trust	Delaware Statutory Trust	51,828,156	9,240	1,081,288,065
BWC	BlackRock World Investment Trust	Delaware Statutory Trust	52,162,868	N/A	805,825,402
BYM	BlackRock Insured Municipal Income Trust	Delaware Statutory Trust	26,214,222	5,997	524,631,837
BZA	BlackRock California Municipal Bond Trust	Delaware Statutory Trust	3,409,668	1,119	79,090,602
BZM	BlackRock Maryland Municipal Bond Trust	Delaware Statutory Trust	2,040,340	640	45,871,970
HIS	BlackRock High Income Shares	Massachusetts Business Trust	54,620,872	N/A	123,381,165
MUA	BlackRock MuniAssets Fund, Inc.	Maryland Corporation	20,892,378	N/A	262,707,171
RAA	BlackRock California Investment Quality Municipal Trust Inc.	Maryland Corporation	1,007,166	273	20,124,204
RFA	BlackRock Florida Investment Quality Municipal Trust	Massachusetts Business Trust	1,127,093	285	21,347,429
RNJ	BlackRock New Jersey Investment Quality Municipal Trust Inc.	Maryland Corporation	1,012,105	283	19,703,918
RNY	BlackRock New York Investment Quality Municipal Trust Inc.	Maryland Corporation	1,311,673	392	27,632,634

	Denotes an AMPS Fund.
*	Includes amounts borrowed for investment purposes.

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Appendix B

Compensation of the Board Members

The Board Members who are not interested persons, as defined in the 1940 Act, (the Independent Board Members) receive retainer fees which includes meeting fees (up to six meetings per year) for Board and committee meetings and are reimbursed for all out-of-pocket expenses relating to attendance at such meetings. The Funds do not provide compensation to any Board Member who is an interested person, as defined in the 1940 Act. Information regarding compensation, including amounts deferred, paid to the Independent Board Members for each Funds most recent fiscal year is set forth below.

Each Fund shall pay a pro rata portion quarterly (based on the relative net assets) of the following Board Member fees paid by the Funds in the Fund Complex for which they serve: (i) $250,000 per annum for each Independent Board Member as a retainer and (ii) $10,000 per day for each Independent Board Member for each special meeting of each Board in the Fund Complex for which they serve (i.e., any meeting, whether telephonic or in person, other than one of the six regularly scheduled meetings of each board per year) attended. Each Independent Board Member shall also be entitled to reimbursement for all of his or her out-of-pocket expenses in attending each meeting of each Board and any committee thereof. Mr. Cavanagh will receive an additional $120,000 per annum from the funds in the Fund Complex for acting as the Chair for each Board. Ms. Robards will receive an additional $40,000 per annum from the funds in the Fund Complex for acting as the Vice Chair for each Board. Mr. Fabozzi will receive an additional $20,000 per annum from the funds in the Fund Complex for acting as Chair of each Performance Oversight Committee. Ms. Feldstein will receive an additional $20,000 per annum from the funds in the Fund Complex for acting as Chair of each Compliance Committee. Mr. Hubbard will receive an additional $10,000 per annum from the funds in the Fund Complex for acting as Chair of each Governance and Nominating Committee. Mr. Dixon, Mr. Fabozzi, Mr. Flynn, Mr. Kester, Ms. Robards and Mr. Salomon will each receive an additional $25,000 per annum from the funds in the Fund Complex for their service on each Audit Committee. Ms. Robards will receive an additional $35,000 per annum from the funds in the Fund Complex for acting as the Chair of each Audit Committee. The additional compensation payable to Mr. Cavanagh, Mr. Dixon, Mr. Fabozzi, Ms. Feldstein, Mr. Flynn, Mr. Hubbard, Mr. Kester, Ms. Robards and Mr. Salomon will be allocated among the funds in the Fund Complex for which they serve based on their relative net assets.

The Independent Board Members have agreed that a maximum of 50% of each Independent Board Members total compensation paid by funds in the Fund Complex may be deferred pursuant to the Fund Complexs deferred compensation plan. Under the deferred compensation plan, deferred amounts earn a return for the Independent Board Members as though equivalent dollar amounts had been invested in common shares of certain funds in the Fund Complex selected by the Independent Board Members. This has approximately the same economic effect for the Independent Board Members as if they had invested the deferred amounts in such other funds in the Fund Complex for which they serve. The deferred compensation plan is not funded and obligations thereunder represent general unsecured claims against the general assets of a fund. A fund may, however, elect to invest in common shares of those funds in the Fund Complex selected by the Independent Board Members in order to match its deferred compensation obligation. For the year ended December 31, 2007, the Funds supervised by the Boards reimbursed Independent Board Member expenses in an aggregate amount of $37,296.

The table below sets forth the aggregate compensation paid to each Independent Board Member by each Fund during its most recently completed fiscal year (based on each Funds pre-amended fiscal year end).

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Fund	Pre Amended FYE (1) (9) (10) (11)	Post Amended FYE	Richard E. Cavanagh (2)	Kent Dixon (3)	Frank J. Fabozzi (4)	Kathleen F. Feldstein (5)	R. Glenn Hubbard (6)	G. Nicholas Beckwith III (7)	James T. Flynn (7)	Jerrold B. Harris(7)	W. Carl Kester (7)	Karen P. Robards (7)	Robert S. Salomon Jr. (7)
APX	30-Jun	30-Apr	$ 1,367	$ 1,016	$ 1,090	$ 997	$ 960	$ 923	$ 1,016	$ 923	$ 1,016	$ 1,293	$ 1,686
BAF	31-Aug	N/A	$ 3,609	$ 3,262	$ 3,262	$ 2,892	$ 2,892	$	$	$	$	$	$
BBF	31-Oct	31-Jul	$ 3,147	$ 2,713	$ 2,713	$ 2,388	$ 2,388	$	$	$	$	$	$
BBK	31-Aug	N/A	$ 5,747	$ 5,305	$ 5,305	$ 4,833	$ 4,833	$	$	$	$	$	$
BCF	31-Oct	N/A	$ 13,470	$ 9,094	$ 9,094	$ 6,252	$ 6,252	$	$	$	$	$	$
BCK	31-Aug	N/A	$ 2,192	$ 1,981	$ 1,981	$ 1,754	$ 1,754	$	$	$	$	$	$
BCL	31-Aug	N/A	$ 3,430	$ 3,098	$ 3,098	$ 2,744	$ 2,744	$	$	$	$	$	$
BCT	31-Oct	N/A	$ 1,797	$ 1,626	$ 1,626	$ 1,500	$ 1,500	$	$	$	$	$	$
BDJ	31-Oct	N/A	$ 13,662	$ 9,316	$ 9,316	$ 6,250	$ 6,250	$	$	$	$	$	$
BDT	31-Oct	N/A	$ 9,383	$ 7,554	$ 7,554	$ 6,250	$ 6,250	$	$	$	$	$	$
BDV	31-Oct	N/A	$ 12,566	$ 8,865	$ 8,865	$ 6,250	$ 6,250	$	$	$	$	$	$
BFC	31-Dec	N/A	$ 4,298	$ 3,550	$ 3,565	$ 3,071	$ 3,063	$ 185	$ 203	$ 185	$ 203	$ 259	$ 203
BFD	31-Oct	N/A	$ 6,529	$ 4,069	$ 4,069	$ 3,250	$ 3,250	$	$	$	$	$	$
BFK	31-Oct	30-Apr	$ 12,632	$ 9,844	$ 9,844	$ 7,750	$ 7,750	$	$	$	$	$	$
BFO	31-Dec	31-Jul	$ 2,368	$ 1,977	$ 1,985	$ 1,727	$ 1,723	$ 96	$ 106	$ 96	$ 106	$ 135	$ 106
BFY	31-Aug	N/A	$ 2,085	$ 1,884	$ 1,884	$ 1,669	$ 1,669	$	$	$	$	$	$
BFZ	31-Oct	31-Jul	$ 6,781	$ 5,805	$ 5,805	$ 5,072	$ 5,072	$	$	$	$	$	$
BGR	31-Oct	N/A	$ 13,263	$ 9,026	$ 9,026	$ 6,250	$ 6,250	$	$	$	$	$	$
BGT	31-Dec	31-Oct	$ 10,223	$ 8,137	$ 8,177	$ 6,795	$ 6,774	$ 504	$ 555	$ 504	$ 555	$ 706	$ 555
BGY	31-Oct	N/A	$ 11,976	$ 6,369	$ 6,369	$ 4,500	$ 4,500	$	$	$	$	$	$
BHD	31-Oct	31-Aug	$ 3,005	$ 2,588	$ 2,588	$ 2,279	$ 2,279	$	$	$	$	$	$
BHK	31-Oct	31-Aug	$ 10,161	$ 8,604	$ 8,604	$ 7,445	$ 7,445	$	$	$	$	$	$
BHL	31-Aug	N/A	$	$	$	$	$	$	$	$	$	$	$
BHV	31-Aug	N/A	$ 1,636	$ 1,570	$ 1,570	$ 1,500	$ 1,500	$	$	$	$	$	$
BHY	31-Oct	31-Aug	$ 1,881	$ 1,661	$ 1,661	$ 1,500	$ 1,500	$	$	$	$	$	$
BIE	31-Aug	N/A	$ 1,923	$ 1,784	$ 1,784	$ 1,635	$ 1,635	$	$	$	$	$	$
BJZ	31-Dec	N/A	$ 2,707	$ 2,255	$ 2,263	$ 1,962	$ 1,958	$ 111	$ 123	$ 111	$ 123	$ 156	$ 123
BKK	31-Dec	30-Apr	$ 8,197	$ 6,736	$ 6,765	$ 5,789	$ 5,775	$ 355	$ 390	$ 355	$ 390	$ 497	$ 390
BKN	31-Oct	30-Apr	$ 7,504	$ 6,424	$ 6,424	$ 5,609	$ 5,609	$	$	$	$	$	$
BKT	31-Oct	31-Aug	$ 10,811	$ 9,048	$ 9,048	$ 7,750	$ 7,750	$	$	$	$	$	$
BLE	31-Aug	N/A	$ 9,328	$ 8,367	$ 8,367	$ 7,344	$ 7,344	$	$	$	$	$	$
BLH	31-Dec	N/A	$ 1,809	$ 1,533	$ 1,539	$ 1,356	$ 1,353	$ 68	$ 74	$ 68	$ 74	$ 95	$ 74
BLJ	31-Aug	N/A	$ 1,714	$ 1,616	$ 1,616	$ 1,511	$ 1,511	$	$	$	$	$	$
BLN	31-Dec	N/A	$ 4,635	$ 3,825	$ 3,841	$ 3,306	$ 3,298	$ 200	$ 220	$ 200	$ 220	$ 280	$ 220
BLW	31-Oct	31-Aug	$ 12,906	$ 9,945	$ 9,945	$ 7,750	$ 7,750	$	$	$	$	$	$
BME	31-Oct	N/A	$ 5,234	$ 4,321	$ 4,321	$ 3,702	$ 3,702	$	$	$	$	$	$
BMT	31-Dec	N/A	$ 6,980	$ 5,734	$ 5,759	$ 4,937	$ 4,925	$ 309	$ 340	$ 309	$ 340	$ 433	$ 340
BNA	31-Oct	31-Aug	$ 10,424	$ 8,823	$ 8,823	$ 7,631	$ 7,631	$	$	$	$	$	$
BNJ	31-Oct	31-Jul	$ 3,621	$ 3,117	$ 3,117	$ 2,737	$ 2,737	$	$	$	$	$	$
BNY	31-Oct	31-Jul	$ 5,779	$ 4,951	$ 4,951	$ 4,330	$ 4,330	$	$	$	$	$	$
BOE	31-Oct	N/A	$ 8,690	$ 7,151	$ 7,151	$ 6,107	$ 6,107	$	$	$	$	$	$
BPK	31-Dec	N/A	$ 6,566	$ 5,406	$ 5,429	$ 4,654	$ 4,643	$ 283	$ 311	$ 283	$ 311	$ 396	$ 311

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Fund	Pre Amended FYE (1) (9) (10) (11)	Post Amended FYE	Richard E. Cavanagh (2)	Kent Dixon (3)	Frank J. Fabozzi (4)	Kathleen F. Feldstein (5)	R. Glenn Hubbard (6)	G. Nicholas Beckwith III (7)	James T. Flynn (7)	Jerrold B. Harris(7)	W. Carl Kester (7)	Karen P. Robards (7)	Robert S. Salomon Jr. (7)
BPP	31-Dec	31-Oct	$ 10,070	$ 8,069	$ 8,106	$ 6,749	$ 6,730	$ 462	$ 508	$ 462	$ 508	$ 647	$ 508
BPS	31-Dec	30-Apr	$ 1,515	$ 1,376	$ 1,379	$ 1,287	$ 1,285	$ 34	$ 37	$ 34	$ 37	$ 47	$ 37
BQH	31-Aug	N/A	$ 1,794	$ 1,679	$ 1,679	$ 1,556	$ 1,556	$	$	$	$	$	$
BQR	31-Oct	N/A	$	$	$	$	$	$	$	$	$	$	$
BQY	31-Oct	N/A	$ 3,082	$ 2,567	$ 2,567	$ 2,214	$ 2,214	$	$	$	$	$	$
BRF	31-Dec	N/A	$ 3,528	$ 2,922	$ 2,934	$ 2,535	$ 2,529	$ 151	$ 166	$ 151	$ 166	$ 211	$ 166
BRM	31-Dec	N/A	$ 9,976	$ 8,024	$ 8,063	$ 6,770	$ 6,750	$ 481	$ 529	$ 481	$ 529	$ 674	$ 529
BSD	31-Dec	30-Apr	$ 3,058	$ 2,543	$ 2,553	$ 2,208	$ 2,203	$ 124	$ 136	$ 124	$ 136	$ 174	$ 136
BSE	31-Aug	N/A	$ 2,071	$ 1,812	$ 1,812	$ 1,535	$ 1,535	$	$	$	$	$	$
BTA	31-Oct	30-Apr	$ 5,673	$ 4,866	$ 4,866	$ 4,255	$ 4,255	$	$	$	$	$	$
BTZ	31-Oct	N/A	$ 11,417	$ 6,420	$ 6,420	$ 4,753	$ 4,753	$	$	$	$	$	$
BWC	31-Oct	N/A	$ 12,741	$ 8,877	$ 8,877	$ 6,250	$ 6,250	$	$	$	$	$	$
BYM	31-Aug	N/A	$ 9,706	$ 8,640	$ 8,640	$ 7,500	$ 7,500	$	$	$	$	$	$
BZA	31-Aug	N/A	$ 1,944	$ 1,801	$ 1,801	$ 1,648	$ 1,648	$	$	$	$	$	$
BZM	31-Aug	N/A	$ 1,674	$ 1,590	$ 1,590	$ 1,500	$ 1,500	$	$	$	$	$	$
HIS	31-Dec	31-Aug	$ 3,965	$ 3,280	$ 3,294	$ 2,840	$ 2,833	$ 166	$ 182	$ 166	$ 182	$ 232	$ 182
MUA	31-May	30-Apr	$ 1,983	$ 1,474	$ 1,581	$ 1,447	$ 1,393	$ 1,340	$ 1,474	$ 1,340	$ 1,474	$ 1,875	$ 2,248
RAA	31-Oct	31-Jul	$ 1,608	$ 1,547	$ 1,547	$ 1,500	$ 1,500	$	$	$	$	$	$
RFA	31-Oct	31-Jul	$ 1,616	$ 1,550	$ 1,550	$ 1,500	$ 1,500	$	$	$	$	$	$
RNJ	31-Oct	31-Jul	$ 1,607	$ 1,546	$ 1,546	$ 1,500	$ 1,500	$	$	$	$	$	$
RNY	31-Oct	31-Jul	$ 1,644	$ 1,562	$ 1,562	$ 1,500	$ 1,500	$	$	$	$	$	$
Total Compensation from
Fund Complex(8)			$ 390,280	$ 299,365	$ 302,699	$ 251,005	$ 249,338	$ 119,817	$ 175,894	$ 123,567	$ 175,894	$ 221,763	$ 245,969
Number of Funds in Fund Complex
Overseen by Board Member			110	110	110	110	110	109	109	109	109	109	109

(1)	Information is for the Funds most recent fiscal year.
(2)	Total amount of deferred compensation, including interest, payable to
Board Member or accrued is $294,563 as of 12/31/07.
(3)	Total amount of deferred compensation, including interest, payable to
Board Member or accrued is $230,925 as of 12/31/07.
(4)	Total amount of deferred compensation, including interest, payable to
Board Member or accrued is $208,975 as of 12/31/07.
(5)	Total amount of deferred compensation, including interest, payable to
Board Member or accrued is $84,532 as of 12/31/07.
(6)	Total amount of deferred compensation, including interest, payable to
Board Member or accrued is $508,856 as of 12/31/07.
(7)	As of December 31, 2007 the Board Member did not participate in the deferred
compensation plan.
(8)	Represents the aggregate compensation earned by such persons during the
calendar year ended December 31, 2007. Of this amount, Mr. Cavanagh, Mr.
Dixon, Mr. Fabozzi, Ms. Feldstein and Mr. Hubbard deferred $50,000,
$50,000, $50,000, $30,000 and $193,502, respectively, pursuant
to the Fund Complexs deferred compensation plan.
(9)	BlackRock Defined Opportunity Credit Trust (BHL), BlackRock Global Equity
Income Trust (BFD), BlackRock International Growth and Income Trust (BGY)
and BlackRock EcoSolutions Investment Trust (BQR) commenced operations on
January 31, 2008, March 30, 2007, May 30, 2007 and September 28, 2007, respectively,
and have not completed a full fiscal year.
(10)	The fiscal year end (FYE) for certain Funds was amended at a meeting
of the Boards in May 2008. However, the information reflected in this chart is
for the pre-amended FYE.
(11)	Due to the board consolidation that occurred last year as a result of
the merger of BlackRock and Merrill Lynch & Co., Inc.s investment
management business and payment methodology change, reflected compensation
may cover a service period in excess of twelve months.

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Appendix C

Equity Securities Owned by Board Members

The following table shows the amount of equity securities owned by the Board Members in the funds that they are nominated to oversee as of May 31, 2008, except as otherwise indicated.

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Aggregate Dollar Range of Equity Securities in All Funds Overseen or To Be Overseen by the Board Member in Fund Complex	Aggregate Dollar Range of Common Stock and Share Equivalents in all Funds
Interested Board Members:
Richard S. Davis	BlackRock Debt	500	None	$1-$10,000	Over	Over
	Strategies Fund, Inc.				$100,000	$100,000
	BlackRock Diversified	500	None	$1-$10,000
	Income Strategies
	Fund, Inc.
	BlackRock Global	500	None	$1-$10,000
	Floating Rate Income
	Trust
	BlackRock	3,600	None	$50,001
	International Growth			-$100,000
	and Income Trust
	BlackRock Limited	500	None	$1-$10,000
	Duration Income Trust
	BlackRock Municipal	500	None	$1-$10,000
	2018 Term Trust
	BlackRock Real	500	None	$1-$10,000
	Asset Equity Trust
	BlackRock World	500	None	$1-$10,000
	Investment Trust
	The Massachusetts	500	None	$1-$10,000
	Health & Education
	Tax-Exempt Trust
Henry Gabbay	BlackRock Dividend	1,000	None	$10,001	Over	Over
	Achievers TM Trust			-$50,000	$100,000	$100,000
	BlackRock Global	500	None	$10,001
	Energy and			-$50,000
	Resources Trust
	BlackRock Health	550	None	$10,001
	Sciences Trust			-$50,000
	BlackRock	900	None	$10,001
	International Growth			-$50,000
	and Income Trust
	BlackRock Long-Term	1,600	None	$10,001
	Municipal Advantage			-$50,000
	Trust
	BlackRock Muni	1,400	None	$10,001
	New York			-$50,000
	Intermediate
	Duration Fund, Inc.
	BlackRock	1,400	None	$10,001
	MuniHoldings			-$50,000
	New York Insured
	Fund, Inc.

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Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Aggregate Dollar Range of Equity Securities in All Funds Overseen or To Be Overseen by the Board Member in Fund Complex	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund	Aggregate Dollar Range of Common Stock and Share Equivalents in all Funds
Interested Board Members:
(continued)
Henry Gabbay	BlackRock MuniYield	1,500	None	$10,001
(continued)	New York Insured			-$50,000
	Fund, Inc.
	BlackRock New York	1,300	None	$10,001
	Municipal Income			-$50,000
	Trust II
	BlackRock Real	950	None	$10,001
	Asset Equity Trust			-$50,000
	BlackRock S&P	840	None	$10,001
	Quality Rankings			-$50,000
	Global Equity
	Managed Trust
	BlackRock Strategic	1,000	None	$10,001
	Dividend Achievers TM			-$50,000
	Trust
Independent Board Members:
G. Nicholas Beckwith, III	BlackRock Apex	102	None	$1-$10,000	$50,001			Over
	Municipal Fund, Inc.				-$100,000			$100,000
	BlackRock Broad	101	None	$1-$10,000
	Investment Grade
	2009 Term Trust Inc.
	BlackRock Core	102	None	$1-$10,000
	Bond Trust
	BlackRock Corporate	104	None	$1-$10,000
	High Yield Fund, Inc.
	BlackRock Corporate	104	None	$1-$10,000
	High Yield Fund III, Inc.
	BlackRock Corporate	104	None	$1-$10,000
	High Yield Fund V, Inc.
	BlackRock Corporate	104	None	$1-$10,000		715	$1-$10,000
	High Yield Fund VI, Inc.
	BlackRock Debt	103	None	$1-$10,000
	Strategies Fund, Inc.
	BlackRock Diversified	103	None	$1-$10,000
	Income Strategies
	Fund, Inc.
	BlackRock Dividend	102	None	$1-$10,000
	Achievers TM Trust
	BlackRock	102	None	$1-$10,000
	EcoSolutions
	Investment Trust
	BlackRock Enhanced	103	None	$1-$10,000
	Capital and Income
	Fund, Inc.
	BlackRock Enhanced	103	None	$1-$10,000		719	$1-$10,000
	Dividend Achievers TM
	Trust

C-2

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
G. Nicholas Beckwith, III	BlackRock Enhanced	100	None	$1-$10,000
(continued)	Equity Yield &
	Premium Fund, Inc.
	BlackRock Enhanced	103	None	$1-$10,000
	Equity Yield Fund, Inc.
	BlackRock Enhanced	102	None	$1-$10,000
	Government Fund, Inc.
	BlackRock Floating	103	None	$1-$10,000
	Rate Income
	Strategies Fund, Inc.
	BlackRock Floating	102	None	$1-$10,000
	Rate Income
	Strategies Fund II, Inc.
	BlackRock Global	101	None	$1-$10,000	249	$1-$10,000
	Energy and
	Resources Trust
	BlackRock Global	103	None	$1-$10,000
	Equity Income Trust
	BlackRock Global	103	None	$1-$10,000	529	$1-$10,000
	Floating Rate
	Income Trust
	BlackRock Global	102	None	$1-$10,000
	Opportunities Equity
	Trust
	BlackRock Health	102	None	$1-$10,000
	Sciences Trust
	BlackRock High	103	None	$1-$10,000
	Income Shares
	BlackRock High	103	None	$1-$10,000
	Yield Trust
	BlackRock Income	102	None	$1-$10,000
	Opportunity Trust, Inc.
	BlackRock Income	102	None	$1-$10,000
	Trust, Inc.
	BlackRock Insured	101	None	$1-$10,000
	Municipal Income
	Trust
	BlackRock	103	None	$1-$10,000	450	$1-$10,000
	International Growth
	and Income Trust
	BlackRock Investment	102	None	$1-$10,000
	Quality Municipal
	Trust, Inc.
	BlackRock Limited	103	None	$1-$10,000	517	$1-$10,000
	Duration Income
	Trust

C-3

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund
Independent Board Members:
(continued)
G. Nicholas Beckwith, III	BlackRock Long-Term	101	None	$1-$10,000
(continued)	Municipal Advantage
	Trust
	BlackRock Muni	101	None	$1-$10,000
	Intermediate
	Duration Fund, Inc.
	BlackRock	102	None	$1-$10,000
	MuniAssets Fund, Inc.
	BlackRock Municipal	101	None	$1-$10,000
	2018 Term Trust
	BlackRock Municipal	101	None	$1-$10,000
	2020 Term Trust
	BlackRock Municipal	102	None	$1-$10,000
	Bond Trust
	BlackRock Municipal	102	None	$1-$10,000
	Income Trust
	BlackRock Municipal	102	None	$1-$10,000
	Income Trust II
	BlackRock	101	None	$1-$10,000
	MuniEnhanced
	Fund, Inc.
	BlackRock	101	None	$1-$10,000
	MuniHoldings
	Fund, Inc.
	BlackRock	101	None	$1-$10,000
	MuniHoldings
	Fund II, Inc.
	BlackRock	101	None	$1-$10,000
	MuniHoldings
	Insured Fund, Inc.
	BlackRock	101	None	$1-$10,000
	MuniHoldings
	Insured Fund II, Inc.
	BlackRock MuniVest	101	None	$1-$10,000
	Fund, Inc.
	BlackRock	102	None	$1-$10,000
	MuniVest Fund II, Inc.
	BlackRock	102	None	$1-$10,000
	MuniYield Fund, Inc.
	BlackRock MuniYield	101	None	$1-$10,000
	Insured Fund, Inc.
	BlackRock MuniYield	101	None	$1-$10,000
	Pennsylvania Insured
	Fund
	BlackRock MuniYield	101	None	$1-$10,000
	Quality Fund, Inc.
	BlackRock MuniYield	101	None	$1-$10,000
	Quality Fund II, Inc.

C-4

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Aggregate Dollar Range of Equity Securities in All Funds Overseen or To Be Overseen by the Board Member in Fund Complex	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund	Aggregate Dollar Range of Common Stock and Share Equivalents in all Funds
Independent Board Members:
(continued)
G. Nicholas Beckwith, III	BlackRock Preferred	103	None	$1-$10,000
(continued)	and Corporate
	Income Strategies
	Fund, Inc.
	BlackRock Preferred	103	None	$1-$10,000		474	$1-$10,000
	and Equity
	Advantage Trust
	BlackRock Preferred	103	None	$1-$10,000		501	$1-$10,000
	Income Strategies
	Fund, Inc.
	BlackRock Preferred	103	None	$1-$10,000
	Opportunity Trust
	BlackRock Real	102	None	$1-$10,000
	Asset Equity Trust
	BlackRock S&P	101	None	$1-$10,000
	Quality Rankings
	Global Equity
	Managed Trust
	BlackRock Senior	103	None	$1-$10,000
	High Income
	Fund, Inc.
	BlackRock Strategic	103	None	$1-$10,000
	Bond Trust
	BlackRock Strategic	102	None	$1-$10,000
	Dividend Achievers TM
	Trust
	BlackRock World	102	None	$1-$10,000
	Investment Trust
	The BlackRock	101	None	$1-$10,000
	Insured Municipal
	Term Trust, Inc.
	The BlackRock	101	None	$1-$10,000
	Pennsylvania
	Strategic Municipal
	Trust
	The BlackRock	102	None	$1-$10,000
	Strategic Municipal
	Trust
Richard E. Cavanagh	BlackRock Apex	100	None	$1-$10,000	Over			Over
	Municipal Fund, Inc.				$100,000			$100,000
	BlackRock Broad	100	None	$1-$10,000
	Investment Grade
	2009 Term Trust Inc.
	BlackRock Core	500	None	$1-$10,000
	Bond Trust
	BlackRock Corporate	100	None	$1-$10,000
	High Yield Fund, Inc.
	BlackRock Corporate	100	None	$1-$10,000
	High Yield Fund III, Inc.

C-5

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
Richard E. Cavanagh	BlackRock Corporate	100	None	$1-$10,000
(continued)	High Yield Fund V, Inc.
	BlackRock Corporate	100	None	$1-$10,000	3,774	$10,001-
	High Yield Fund VI, Inc.					$50,000
	BlackRock Debt	100	None	$1-$10,000
	Strategies Fund, Inc.
	BlackRock Diversified	100	None	$1-$10,000
	Income Strategies
	Fund, Inc.
	BlackRock Dividend	100	None	$1-$10,000
	Achievers TM Trust
	BlackRock	100	None	$1-$10,000
	EcoSolutions
	Investment Trust
	BlackRock Enhanced	100	None	$1-$10,000
	Capital and Income
	Fund, Inc.
	BlackRock Enhanced	100	None	$1-$10,000	3,611	$10,001
	Dividend Achievers TM					-$50,000
	Trust
	BlackRock Enhanced	100	None	$1-$10,000
	Equity Yield &
	Premium Fund, Inc.
	BlackRock Enhanced	100	None	$1-$10,000
	Equity Yield Fund, Inc.
	BlackRock Enhanced	100	None	$1-$10,000
	Government Fund, Inc.
	BlackRock Floating	100	None	$1-$10,000
	Rate Income
	Strategies Fund, Inc.
	BlackRock Floating	100	None	$1-$10,000
	Rate Income
	Strategies Fund II, Inc.
	BlackRock Global	100	None	$1-$10,000	1,315	$10,001
	Energy and					-$50,000
	Resources Trust
	BlackRock Global	100	None	$1-$10,000
	Equity Income Trust
	BlackRock Global	200	None	$1-$10,000	2,830	$10,001
	Floating Rate					-$50,000
	Income Trust
	BlackRock Global	100	None	$1-$10,000
	Opportunities Equity
	Trust
	BlackRock Health	100	None	$1-$10,000
	Sciences Trust
	BlackRock High	100	None	$1-$10,000
	Income Shares

C-6

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
Richard E. Cavanagh	BlackRock High	200	None	$1-$10,000
(continued)	Yield Trust
	BlackRock Income	100	None	$1-$10,000
	Opportunity Trust, Inc.
	BlackRock Income	500	None	$1-$10,000
	Trust, Inc.
	BlackRock Insured	200	None	$1-$10,000
	Municipal Income
	Trust
	BlackRock	100	None	$1-$10,000	2,637	$10,001
	International Growth					-$50,000
	and Income Trust
	BlackRock Investment	500	None	$1-$10,000
	Quality Municipal
	Trust, Inc.
	BlackRock Limited	100	None	$1-$10,000	2,701	$10,001
	Duration Income Trust					-$50,000
	BlackRock Long-Term	200	None	$1-$10,000
	Municipal Advantage
	Trust
	BlackRock Muni	100	None	$1-$10,000
	Intermediate Duration
	Fund, Inc.
	BlackRock	100	None	$1-$10,000
	MuniAssets Fund, Inc.
	BlackRock Municipal	300	None	$1-$10,000
	2018 Term Trust
	BlackRock Municipal	100	None	$1-$10,000
	2020 Term Trust
	BlackRock Municipal	100	None	$1-$10,000
	Bond Trust
	BlackRock Municipal	300	None	$1-$10,000
	Income Trust
	BlackRock Municipal	100	None	$1-$10,000
	Income Trust II
	BlackRock	100	None	$1-$10,000
	MuniEnhanced
	Fund, Inc.
	BlackRock	100	None	$1-$10,000
	MuniHoldings
	Fund Inc.
	BlackRock	100	None	$1-$10,000
	MuniHoldings
	Fund II, Inc.
	BlackRock	100	None	$1-$10,000
	MuniHoldings
	Insured Fund, Inc.

C-7

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
Richard E. Cavanagh	BlackRock	100	None	$1-$10,000
(continued)	MuniHoldings
	Insured Fund II, Inc.
	BlackRock MuniVest	100	None	$1-$10,000
	Fund, Inc.
	BlackRock MuniVest	100	None	$1-$10,000
	Fund II, Inc.
	BlackRock MuniYield	100	None	$1-$10,000
	Fund, Inc.
	BlackRock MuniYield	100	None	$1-$10,000
	Insured Fund, Inc.
	BlackRock MuniYield	100	None	$1-$10,000
	Quality Fund, Inc.
	BlackRock MuniYield	100	None	$1-$10,000
	Quality Fund II, Inc.
	BlackRock New York	200	None	$1-$10,000
	Insured Municipal
	Income Trust
	BlackRock New York	100	None	$1-$10,000
	Investment Quality
	Municipal Trust, Inc.
	BlackRock New York	100	None	$1-$10,000
	Municipal 2018
	Term Trust
	BlackRock New York	100	None	$1-$10,000
	Municipal Bond Trust
	BlackRock New York	300	None	$1-$10,000
	Municipal Income Trust
	BlackRock New York	100	None	$1-$10,000
	Municipal Income
	Trust II
	BlackRock Preferred	100	None	$1-$10,000
	and Corporate
	Income Strategies
	Fund, Inc.
	BlackRock Preferred	200	None	$1-$10,000	2,520	$10,001
	and Equity					-$50,000
	Advantage Trust
	BlackRock Preferred	100	None	$1-$10,000	2,630	$10,001
	Income Strategies					-$50,000
	Fund, Inc.
	BlackRock Preferred	100	None	$1-$10,000
	Opportunity Trust
	BlackRock Real	200	None	$1-$10,000
	Asset Equity Trust

C-8

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Aggregate Dollar Range of Equity Securities in All Funds Overseen or To Be Overseen by the Board Member in Fund Complex	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund	Aggregate Dollar Range of Common Stock and Share Equivalents in all Funds
Independent Board Members:
(continued)
Richard E. Cavanagh	BlackRock S&P	100	None	$1-$10,000
(continued)	Quality Rankings
	Global Equity
	Managed Trust
	BlackRock Senior	100	None	$1-$10,000
	High Income Fund, Inc.
	BlackRock Strategic	300	None	$1-$10,000
	Bond Trust
	BlackRock Strategic	100	None	$1-$10,000
	Dividend Achievers TM
	Trust
	BlackRock World	100	None	$1-$10,000
	Investment Trust
	The BlackRock	100	None	$1-$10,000
	Insured Municipal
	2008 Term Trust, Inc.
	The BlackRock	100	None	$1-$10,000
	Insured Municipal
	Term Trust, Inc.
	The BlackRock	100	None	$1-$10,000
	New York Insured
	Municipal 2008
	Term Trust
	The BlackRock	500	None	$1-$10,000
	Strategic Municipal
	Trust
	The Massachusetts	100	None	$1-$10,000
	Health & Education
	Tax-Exempt Trust
Kent Dixon	BlackRock Broad	100	None	$1-$10,000	Over			Over
	Investment Grade				$100,000			$100,000
	2009 Term Trust Inc.
	BlackRock Core	100	None	$1-$10,000
	Bond Trust
	BlackRock Corporate		None			2,725	$10,001
	High Yield Fund VI, Inc.						-$50,000
	BlackRock Dividend	3,000	None	$10,001
	Achievers TM Trust			-$50,000
	BlackRock	100	None	$1-$10,000
	EcoSolutions
	Investment Trust
	BlackRock Enhanced	3,000	None	$10,001		2,622	$10,001
	Dividend Achievers TM			-$50,000			-$50,000
	Trust
	BlackRock Florida	100	None	$1-$10,000
	Insured Municipal
	Income Trust

C-9

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
Kent Dixon	BlackRock Florida	100	None	$1-$10,000
(continued)	Investment Quality
	Municipal Trust
	BlackRock Florida	100	None	$1-$10,000
	Municipal 2020
	Term Trust
	BlackRock Florida	100	None	$1-$10,000
	Municipal Bond Trust
	BlackRock Florida	2,100	None	$10,001
	Municipal Income			-$50,000
	Trust
	BlackRock Global	1,500	None	$50,001	951	$10,001
	Energy and			-$100,000		-$50,000
	Resources Trust
	BlackRock Global	1,000	None	$10,001
	Equity Income Trust			-$50,000
	BlackRock Global	500	None	$1-$10,000	2,038	$10,001
	Floating Rate					-$50,000
	Income Trust
	BlackRock Global	3,000	None	$50,001
	Opportunities Equity			-$100,000
	Trust
	BlackRock Health	1,100	None	$10,001
	Sciences Trust			-$50,000
	BlackRock High	500	None	$1-$10,000
	Income Shares
	BlackRock High	5,000	None	$10,001
	Yield Trust			-$50,000
	BlackRock Income	100	None	$1-$10,000
	Opportunity Trust, Inc.
	BlackRock Income	100	None	$1-$10,000
	Trust, Inc.
	BlackRock Insured	5,100	None	$50,001
	Municipal Income			-$100,000
	Trust
	BlackRock	2,000	None	$10,001	1,920	$10,001
	International Growth			-$50,000		-$50,000
	and Income Trust
	BlackRock Investment	100	None	$1-$10,000
	Quality Municipal
	Trust, Inc.
	BlackRock Limited	1,000	None	$10,001	1,929	$10,001
	Duration Income			-$50,000		-$50,000
	Trust
	BlackRock Long-Term	100	None	$1-$10,000
	Municipal Advantage
	Trust

C-10

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Aggregate Dollar Range of Equity Securities in All Funds Overseen or To Be Overseen by the Board Member in Fund Complex	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund	Aggregate Dollar Range of Common Stock and Share Equivalents in all Funds
Independent Board Members:
(continued)
Kent Dixon	BlackRock Municipal	100	None	$1-$10,000
(continued)	2018 Term Trust
	BlackRock Municipal	100	None	$1-$10,000
	2020 Term Trust
	BlackRock Municipal	5,000	None	$50,001
	Bond Trust			-$100,000
	BlackRock Municipal	5,100	None	$50,001
	Income Trust			-$100,000
	BlackRock Municipal	100	None	$1-$10,000
	Income Trust II
	BlackRock Preferred	2,000	None	$10,001		1,820	$10,001
	and Equity			-$50,000			-$50,000
	Advantage Trust
	BlackRock Preferred		None			1,898	$10,001
	Income Strategies						-$50,000
	Fund, Inc.
	BlackRock Preferred	100	None	$1-$10,000
	Opportunity Trust
	BlackRock Real	1,000	None	$10,001
	Asset Equity Trust			-$50,000
	BlackRock S&P	100	None	$1-$10,000
	Quality Rankings
	Global Equity
	Managed Trust
	BlackRock Strategic	100	None	$1-$10,000
	Bond Trust
	BlackRock Strategic	100	None	$1-$10,000
	Dividend Achievers TM
	Trust
	BlackRock World	1,000	None	$10,001
	Investment Trust			-$50,000
	The BlackRock	100	None	$1-$10,000
	Florida Insured
	Municipal 2008
	Term Trust
	The BlackRock	100	None	$1-$10,000
	Insured Municipal
	2008 Term Trust, Inc.
	The BlackRock	100	None	$1-$10,000
	Insured Municipal
	Term Trust, Inc.
	The BlackRock	100	None	$1-$10,000
	Strategic Municipal
	Trust
Frank J. Fabozzi	BlackRock Apex	10	None	$1-$10,000	$50,001			Over
	Municipal Fund, Inc.				-$100,000			$100,000

C-11

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
Frank J. Fabozzi	BlackRock Broad	10	None	$1-$10,000
(continued)	Investment Grade
	2009 Term Trust Inc.
	BlackRock Core	20	None	$1-$10,000
	Bond Trust
	BlackRock Corporate	10	None	$1-$10,000
	High Yield Fund
	BlackRock Corporate	10	None	$1-$10,000
	High Yield Fund III
	BlackRock Corporate	10	None	$1-$10,000
	High Yield Fund V, Inc.
	BlackRock Corporate		None		2,960	$10,001-
	High Yield Fund VI, Inc.					$50,000
	BlackRock Debt	10	None	$1-$10,000
	Strategies Fund, Inc.
	BlackRock Defined	10	None	$1-$10,000
	Opportunity Credit Trust
	BlackRock Diversified	10	None	$1-$10,000
	Income Strategies
	Fund, Inc.
	BlackRock Dividend	300	None	$1-$10,000
	Achievers TM Trust
	BlackRock	300	None	$1-$10,000
	EcoSolutions
	Investment Trust
	BlackRock Enhanced	100	None	$1-$10,000	2,845	$10,001
	Dividend Achievers TM					-$50,000
	Trust
	BlackRock Enhanced	10	None	$1-$10,000
	Government Fund, Inc.
	BlackRock Floating	10	None	$1-$10,000
	Rate Income
	Strategies Fund Inc.
	BlackRock Floating	10	None	$1-$10,000
	Rate Income
	Strategies II Fund, Inc.
	BlackRock Global	100	None	$1-$10,000	1,020	$10,001
	Energy and					-$50,000
	Resources Trust
	BlackRock Global	300	None	$1-$10,000
	Equity Income Trust
	BlackRock Global	100	None	$1-$10,000	2,200	$10,001
	Floating Rate					-$50,000
	Income Trust
	BlackRock Global	100	None	$1-$10,000
	Opportunities Equity
	Trust

C-12

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
Frank J. Fabozzi	BlackRock Health	100	None	$1-$10,000
(continued)	Sciences Trust
	BlackRock High	100	None	$1-$10,000
	Income Shares
	BlackRock High	10	None	$1-$10,000
	Yield Trust
	BlackRock Income	10	None	$1-$10,000
	Opportunity Trust, Inc.
	BlackRock Income	2,010	None	$10,001
	Trust, Inc.			-$50,000
	BlackRock Insured	10	None	$1-$10,000
	Municipal Income
	Trust
	BlackRock	300	None	$1-$10,000	2,047	$10,001
	International Growth					-$50,000
	and Income Trust
	BlackRock Investment	10	None	$1-$10,000
	Quality Municipal
	Trust, Inc.
	BlackRock Limited	100	None	$1-$10,000	2,096	$10,001
	Duration Income Trust					-$50,000
	BlackRock Long-Term	100	None	$1-$10,000
	Municipal Advantage
	Trust
	BlackRock Muni	10	None	$1-$10,000
	Intermediate Duration
	Fund, Inc.
	BlackRock	10	None	$1-$10,000
	MuniAssets Fund, Inc.
	BlackRock Municipal	20	None	$1-$10,000
	2018 Term Trust
	BlackRock Municipal	100	None	$1-$10,000
	2020 Term Trust
	BlackRock Municipal	20	None	$1-$10,000
	Bond Trust
	BlackRock Municipal	20	None	$1-$10,000
	Income Trust
	BlackRock Municipal	10	None	$1-$10,000
	Income Trust II
	BlackRock	10	None	$1-$10,000
	MuniEnhanced Fund,
	Inc.
	BlackRock	10	None	$1-$10,000
	MuniHoldings Fund,
	Inc.
	BlackRock	10	None	$1-$10,000
	MuniHoldings
	Fund II, Inc.

C-13

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
Frank J. Fabozzi	BlackRock	10	None	$1-$10,000
(continued)	MuniHoldings
	Insured Fund, Inc.
	BlackRock	10	None	$1-$10,000
	MuniHoldings
	Insured Fund II, Inc.
	BlackRock MuniVest	10	None	$1-$10,000
	Fund, Inc.
	BlackRock MuniVest	10	None	$1-$10,000
	Fund II, Inc.
	BlackRock MuniYield	10	None	$1-$10,000
	Fund, Inc.
	BlackRock MuniYield	10	None	$1-$10,000
	Insured Fund, Inc.
	BlackRock MuniYield	10	None	$1-$10,000
	Pennsylvania Insured
	Fund
	BlackRock MuniYield	10	None	$1-$10,000
	Quality Fund, Inc.
	BlackRock MuniYield
	Quality Fund II, Inc.	10	None	$1-$10,000
	BlackRock Preferred	10	None	$1-$10,000
	and Corporate
	Income Strategies
	Fund, Inc.
	BlackRock Preferred	100	None	$1-$10,000	1,974	$10,001
	and Equity Advantage					-$50,000
	Trust
	BlackRock Preferred		None		2,064	$10,001
	Income Strategies					-$50,000
	Fund, Inc.
	BlackRock Preferred	100	None	$1-$10,000
	Opportunity Trust
	BlackRock Real	100	None	$1-$10,000
	Asset Equity Trust
	BlackRock S&P	100	None	$1-$10,000
	Quality Rankings
	Global Equity
	Managed Trust
	BlackRock Senior	10	None	$1-$10,000
	High Income Fund, Inc.
	BlackRock Strategic	100	None	$1-$10,000
	Bond Trust
	BlackRock Strategic	100	None	$1-$10,000
	Dividend Achievers TM
	Trust
	BlackRock World	100	None	$1-$10,000
	Investment Trust

C-14

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Aggregate Dollar Range of Equity Securities in All Funds Overseen or To Be Overseen by the Board Member in Fund Complex	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund	Aggregate Dollar Range of Common Stock and Share Equivalents in all Funds
Independent Board Members:
(continued)
Frank J. Fabozzi	The BlackRock	10	None	$1-$10,000
(continued)	Insured Municipal
	2008 Term Trust, Inc.
	The BlackRock	10	None	$1-$10,000
	Insured Municipal
	Term Trust, Inc.
	The BlackRock	100	None	$1-$10,000
	Pennsylvania
	Strategic Municipal
	Trust
	The BlackRock	100	None	$1-$10,000
	Strategic Municipal
	Trust
Kathleen F. Feldstein	BlackRock Broad	64	None	$1-$10,000	$10,001			Over
	Investment Grade				-$50,000			$100,000
	2009 Term Trust Inc.
	BlackRock Core	65	None	$1-$10,000
	Bond Trust
	BlackRock Corporate		None			1,451	$10,001
	High Yield Fund VI, Inc.						-$50,000
	BlackRock Dividend	62	None	$1-$10,000
	Achievers TM Trust
	BlackRock	104	None	$1-$10,000
	EcoSolutions
	Investment Trust
	BlackRock Enhanced	124	None	$1-$10,000		1,420	$10,001
	Dividend Achievers TM						-$50,000
	Trust
	BlackRock Global	50	None	$1-$10,000		512	$10,001
	Energy and						-$50,000
	Resources Trust
	BlackRock Global	103	None	$1-$10,000
	Equity Income Trust
	BlackRock Global	65	None	$1-$10,000		1,066	$10,001
	Floating Rate						-$50,000
	Income Trust
	BlackRock Global	100	None	$1-$10,000
	Opportunities Equity
	Trust
	BlackRock Health	126	None	$1-$10,000
	Sciences Trust
	BlackRock High	131	None	$1-$10,000
	Income Shares
	BlackRock High	66	None	$1-$10,000
	Yield Trust
	BlackRock Income	64	None	$1-$10,000
	Opportunity Trust, Inc.

C-15

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
Kathleen F. Feldstein	BlackRock Income	62	None	$1-$10,000
(continued)	Trust, Inc.
	BlackRock Insured	60	None	$1-$10,000
	Municipal Income
	Trust
	BlackRock	105	None	$1-$10,000	987	$10,001
	International Growth					-$50,000
	and Income Trust
	BlackRock Investment	61	None	$1-$10,000
	Quality Municipal
	Trust, Inc.
	BlackRock Limited	66	None	$1-$10,000	1,029	$10,001
	Duration Income Trust					-$50,000
	BlackRock Long-Term	107	None	$1-$10,000
	Municipal Advantage
	Trust
	BlackRock Municipal	60	None	$1-$10,000
	2018 Term Trust
	BlackRock Municipal	60	None	$1-$10,000
	2020 Term Trust
	BlackRock Municipal	62	None	$1-$10,000
	Bond Trust
	BlackRock Municipal	61	None	$1-$10,000
	Income Trust
	BlackRock Municipal	61	None	$1-$10,000
	Income Trust II
	BlackRock Preferred	113	None	$1-$10,000	967	$10,001
	and Equity Advantage					-$50,000
	Trust
	BlackRock Preferred		None		1,012	$10,001
	Income Strategies					-$50,000
	Fund, Inc.
	BlackRock Preferred	66	None	$1-$10,000
	Opportunity Trust
	BlackRock Real	111	None	$1-$10,000
	Asset Equity Trust
	BlackRock S&P	60	None	$1-$10,000
	Quality Rankings
	Global Equity
	Managed Trust
	BlackRock Strategic	65	None	$1-$10,000
	Bond Trust
	BlackRock Strategic	62	None	$1-$10,000
	Dividend Achievers TM
	Trust
	BlackRock World	130	None	$1-$10,000
	Investment Trust

C-16

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Aggregate Dollar Range of Equity Securities in All Funds Overseen or To Be Overseen by the Board Member in Fund Complex	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund	Aggregate Dollar Range of Common Stock and Share Equivalents in all Funds
Independent Board Members:
(continued)
Kathleen F. Feldstein	The BlackRock	59	None	$1-$10,000
(continued)	Insured Municipal
	2008 Term Trust, Inc.
	The BlackRock	57	None	$1-$10,000
	Insured Municipal
	Term Trust, Inc.
	The BlackRock	61	None	$1-$10,000
	Strategic Municipal
	Trust
James T. Flynn	BlackRock Corporate		None		$50,001	787	$1-$10,000	Over
	High Yield Fund				-$100,000			$100,000
	VI, Inc.
	BlackRock Enhanced		None			791	$1-$10,000
	Dividend Achievers TM
	Trust
	BlackRock Global		None			274	$1-$10,000
	Energy and Resources
	Trust
	BlackRock Global		None			582	$1-$10,000
	Floating Rate Income
	Trust
	BlackRock		None			495	$1-$10,000
	International Growth
	and Income Trust
	BlackRock Limited		None			569	$1-$10,000
	Duration Income
	Trust
	BlackRock Preferred		None			521	$1-$10,000
	and Equity Advantage
	Trust
	BlackRock Preferred		None			551	$1-$10,000
	Income Strategies
	Fund, Inc.
	BlackRock Senior	6,783	None	$50,001
	Floating Rate Fund, Inc.			-$100,000
	BlackRock Senior	255	None	$1-$10,000
	Floating Rate
	Fund II, Inc.
Jerrold B. Harris	BlackRock Apex	100	None	$1-$10,000	$50,001			Over
	Municipal Fund, Inc.				-$100,000			$100,000
	BlackRock Broad	101	None	$1-$10,000
	Investment Grade
	2009 Term Trust, Inc.
	BlackRock Core	102	None	$1-$10,000
	Bond Trust
	BlackRock Corporate	103	None	$1-$10,000
	High Yield Fund, Inc.
	BlackRock Corporate	103	None	$1-$10,000
	High Yield Fund III, Inc.

C-17

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
Jerrold B. Harris	BlackRock Corporate	103	None	$1-$10,000
(continued)	High Yield Fund V, Inc.
	BlackRock Corporate	103	None	$1-$10,000	715	$1-$10,000
	High Yield Fund VI, Inc.
	BlackRock Debt	102	None	$1-$10,000
	Strategies Fund, Inc.
	BlackRock Diversified	102		$1-$10,000
	Income Strategies
	Fund, Inc.
	BlackRock Dividend	102	None	$1-$10,000
	Achievers TM Trust
	BlackRock	102	None	$1-$10,000
	EcoSolutions
	Investment Trust
	BlackRock Enhanced	103	None	$1-$10,000
	Capital and Income
	Fund, Inc.
	BlackRock Enhanced	102	None	$1-$10,000	719	$1-$10,000
	Dividend Achievers TM
	Trust
	BlackRock Enhanced	100	None	$1-$10,000
	Equity Yield &
	Premium Fund, Inc.
	BlackRock Enhanced	103	None	$1-$10,000
	Equity Yield Fund, Inc.
	BlackRock Enhanced	101	None	$1-$10,000
	Government Fund,
	Inc.
	BlackRock Floating	102	None	$1-$10,000
	Rate Income
	Strategies Fund, Inc.
	BlackRock Floating	102	None	$1-$10,000
	Rate Income
	Strategies Fund II, Inc.
	BlackRock Global	233	None	$1-$10,000	249	$1-$10,000
	Energy and
	Resources Trust
	BlackRock Global	100	None	$1-$10,000
	Equity Income Trust
	BlackRock Global	102	None	$1-$10,000	529	$1-$10,000
	Floating Rate Income
	Trust
	BlackRock Global	100	None	$1-$10,000
	Opportunities Equity
	Trust
	BlackRock Health	102	None	$1-$10,000
	Sciences Trust

C-18

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
Jerrold B. Harris	BlackRock High	103	None	$1-$10,000
(continued)	Income Shares
	BlackRock High	102	None	$1-$10,000
	Yield Trust
	BlackRock Income	102	None	$1-$10,000
	Opportunity Trust, Inc.
	BlackRock Income	101	None	$1-$10,000
	Trust, Inc.
	BlackRock Insured	100	None	$1-$10,000
	Municipal Income
	Trust
	BlackRock	102	None	$1-$10,000	450	$1-$10,000
	International Growth
	and Income Trust
	BlackRock Investment	100	None	$1-$10,000
	Quality Municipal
	Trust, Inc.
	BlackRock Limited	102	None	$1-$10,000	517	$1-$10,000
	Duration Income
	Trust
	BlackRock Long-Term	100	None	$1-$10,000
	Municipal Advantage
	Trust
	BlackRock Maryland	100	None	$1-$10,000
	Municipal Bond Trust
	BlackRock Muni	100	None	$1-$10,000
	Intermediate Duration
	Fund, Inc.
	BlackRock	100	None	$1-$10,000
	MuniAssets Fund, Inc.
	BlackRock Municipal	101	None	$1-$10,000
	2018 Term Trust
	BlackRock Municipal	101	None	$1-$10,000
	2020 Term Trust
	BlackRock Municipal	102	None	$1-$10,000
	Bond Trust
	BlackRock Municipal	102	None	$1-$10,000
	Income Trust
	BlackRock Municipal	102	None	$1-$10,000
	Income Trust II
	BlackRock	101	None	$1-$10,000
	MuniEnhanced
	Fund, Inc.
	BlackRock	101	None	$1-$10,000
	MuniHoldings
	Fund, Inc.

C-19

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
Jerrold B. Harris	BlackRock	101	None	$1-$10,000
(continued)	MuniHoldings
	Fund II, Inc.
	BlackRock	101	None	$1-$10,000
	MuniHoldings
	Insured Fund, Inc.
	BlackRock	101	None	$1-$10,000
	MuniHoldings
	Insured Fund II, Inc.
	BlackRock MuniVest	101	None	$1-$10,000
	Fund, Inc.
	BlackRock MuniVest	101	None	$1-$10,000
	Fund II, Inc.
	BlackRock MuniYield	101	None	$1-$10,000
	Fund, Inc.
	BlackRock MuniYield	101	None	$1-$10,000
	Insured Fund, Inc.
	BlackRock MuniYield	101	None	$1-$10,000
	Quality Fund, Inc.
	BlackRock MuniYield	101	None	$1-$10,000
	Quality Fund II, Inc.
	BlackRock Preferred	102	None	$1-$10,000
	and Corporate Income
	Strategies Fund
	BlackRock Preferred	102	None	$1-$10,000	474	$1-$10,000
	and Equity Advantage
	Trust
	BlackRock Preferred	102	None	$1-$10,000	501	$1-$10,000
	Income Strategies
	BlackRock Preferred	102	None	$1-$10,000
	Opportunity Trust
	BlackRock Real	101	None	$1-$10,000
	Asset Equity Trust
	BlackRock S&P	100	None	$1-$10,000
	Quality Rankings
	Global Equity
	Managed Trust
	BlackRock Senior	102	None	$1-$10,000
	High Income Fund, Inc.
	BlackRock Strategic	102	None	$1-$10,000
	Bond Trust
	BlackRock Strategic	102	None	$1-$10,000
	Dividend Achievers TM
	Trust
	BlackRock World	101	None	$1-$10,000
	Investment Trust

C-20

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Aggregate Dollar Range of Equity Securities in All Funds Overseen or To Be Overseen by the Board Member in Fund Complex	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund	Aggregate Dollar Range of Common Stock and Share Equivalents in all Funds
Independent Board Members:
(continued)
Jerrold B. Harris	BlackRock Insured	100	None	$1-$10,000
(continued)	Municipal Term
	Trust, Inc.
	BlackRock Strategic	102	None	$1-$10,000
	Municipal Trust
R. Glenn Hubbard	BlackRock Broad	128	None	$1-$10,000	$50,001			Over
	Investment Grade				-$100,000			$100,000
	Term Trust, Inc.
	BlackRock Core	126	None	$1-$10,000
	Bond Trust
	BlackRock Corporate		None			6,766	$50,001
	High Yield Fund VI, Inc.						-$100,000
	BlackRock Dividend	124	None	$1-$10,000
	Achievers TM Trust
	BlackRock Enhanced	124	None	$1-$10,000		6,443	$50,001
	Dividend Achievers TM						-$100,000
	Trust
	BlackRock Global	236	None	$1-$10,000		2,319	$50,001
	Energy and Resources						-$100,000
	Trust
	BlackRock Global	103	None	$1-$10,000
	Equity Income Trust
	BlackRock Global	130	None	$1-$10,000		5,033	$50,001
	Floating Rate Income						-$100,000
	Trust
	BlackRock Global	132	None	$1-$10,000
	Opportunities Equity
	Trust
	BlackRock Health	126	None	$1-$10,000
	Sciences Trust
	BlackRock High	132	None	$1-$10,000
	Income Shares
	BlackRock High	132	None	$1-$10,000
	Yield Trust
	BlackRock Income	128	None	$1-$10,000
	Opportunity Trust, Inc.
	BlackRock Income	124	None	$1-$10,000
	Trust, Inc.
	BlackRock Insured	119	None	$1-$10,000
	Municipal Income
	Trust
	BlackRock	104	None	$1-$10,000		4,710	$50,001
	International Growth						-$100,000
	and Income Trust
	BlackRock Investment	121	None	$1-$10,000
	Quality Municipal
	Trust, Inc.

C-21

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
R. Glenn Hubbard	BlackRock Limited	132	None	$1-$10,000	4,849	$50,001
(continued)	Duration Income Trust					-$100,000
	BlackRock Long-Term	107	None	$1-$10,000
	Municipal Advantage
	Trust
	BlackRock Municipal	120	None	$1-$10,000
	2018 Term Trust
	BlackRock Municipal	119	None	$1-$10,000
	2020 Term Trust
	BlackRock Municipal	123	None	$1-$10,000
	Bond Trust
	BlackRock Municipal	122	None	$1-$10,000
	Income Trust
	BlackRock Municipal	122	None	$1-$10,000
	Income Trust II
	BlackRock New York	119	None	$1-$10,000
	Insured Municipal
	Income Trust
	BlackRock New York	119	None	$1-$10,000
	Investment Quality
	Municipal Trust, Inc.
	BlackRock New York	117	None	$1-$10,000
	Municipal 2018
	Term Trust
	BlackRock New York	120	None	$1-$10,000
	Municipal Bond Trust
	BlackRock New York	120	None	$1-$10,000
	Municipal Income
	Trust
	BlackRock New York	119	None	$1-$10,000
	Municipal Income
	Trust II
	BlackRock Preferred	113	None	$1-$10,000	4,516	$50,001
	and Equity Advantage					-$100,000
	Trust
	BlackRock Preferred		None		4,716	$50,001
	Income Strategies					-$100,000
	Fund, Inc.
	BlackRock Preferred	133	None	$1-$10,000
	Opportunity Trust
	BlackRock Real	111	None	$1-$10,000
	Asset Equity Trust
	BlackRock S&P	120	None	$1-$10,000
	Quality Rankings
	Global Equity
	Managed Trust
	BlackRock Strategic	131	None	$1-$10,000
	Bond Trust

C-22

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Aggregate Dollar Range of Equity Securities in All Funds Overseen or To Be Overseen by the Board Member in Fund Complex	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund	Aggregate Dollar Range of Common Stock and Share Equivalents in all Funds
Independent Board Members:
(continued)
R. Glenn Hubbard	BlackRock Strategic	123	None	$1-$10,000
(continued)	Dividend Achievers TM
	Trust
	BlackRock World	130	None	$1-$10,000
	Investment Trust
	The BlackRock	116	None	$1-$10,000
	Insured Municipal
	2008 Term Trust, Inc.
	The BlackRock	115	None	$1-$10,000
	Insured Municipal
	Term Trust, Inc.
	The BlackRock	116	None	$1-$10,000
	New York Insured
	Municipal 2008
	Term Trust
	The BlackRock	122	None	$1-$10,000
	Strategic Municipal
	Trust
W. Carl Kester	BlackRock Broad	100	None	$1-$10,000	Over			Over
	Investment Grade				$100,000			$100,000
	2009 Term Trust
	BlackRock Core	1,000	None	$10,001
	Bond Trust			-$50,000
	BlackRock Corporate	100	None	$1-$10,000
	High Yield Fund, Inc.
	BlackRock Corporate	100	None	$1-$10,000
	High Yield Fund III, Inc.
	BlackRock Corporate	100	None	$1-$10,000
	High Yield Fund V, Inc.
	BlackRock Corporate		None			429	$1-$10,000
	High Yield Fund VI, Inc.
	BlackRock Debt	100	None	$1-$10,000
	Strategies Fund, Inc.
	BlackRock Diversified	100	None	$1-$10,000
	Income Strategies
	Fund, Inc.
	BlackRock Dividend	100	None	$1-$10,000
	Achievers TM Trust
	BlackRock Enhanced	1,000	None	$10,001
	Capital and Income			-$50,000
	Fund, Inc.
	BlackRock Enhanced		None			432	$1-$10,000
	Dividend Achievers TM
	Trust
	BlackRock Enhanced	500	None	$1-$10,000
	Equity Yield &
	Premium Fund, Inc.

C-23

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
W. Carl Kester	BlackRock Enhanced	500	None	$1-$10,000
(continued)	Equity Yield Fund, Inc.
	BlackRock Enhanced	1,000	None	$10,001
	Government Fund, Inc.			-$50,000
	BlackRock Floating	100	None	$1-$10,000
	Rate Income
	Strategies Fund, Inc.
	BlackRock Floating	100	None	$1-$10,000
	Rate Income
	Strategies Fund II, Inc.
	BlackRock Global		None		149	$1-$10,000
	Energy and
	Resources Trust
	BlackRock Global	100	None	$1-$10,000
	Equity Income Trust
	BlackRock Global		None		317	$1-$10,000
	Floating Rate Income
	Trust
	BlackRock Global	100	None	$1-$10,000
	Opportunities Equity
	Trust
	BlackRock Health	100	None	$1-$10,000
	Sciences Trust
	BlackRock High	500	None	$1-$10,000
	Income Shares
	BlackRock High	100	None	$1-$10,000
	Yield Trust
	BlackRock Income	100	None	$1-$10,000
	Opportunity Trust
	BlackRock Income	3,000	None	$10,001
	Trust, Inc.			-$50,000
	BlackRock		None		270	$1-$10,000
	International Growth
	and Income Trust
	BlackRock Limited		None		310	$1-$10,000
	Duration Income Trust
	BlackRock Preferred	100	None	$1-$10,000
	and Corporate
	Income Strategies
	Fund
	BlackRock Preferred		None		284	$1-$10,000
	and Equity Advantage
	Trust
	BlackRock Preferred	100	None	$1-$10,000	301	$1-$10,000
	Income Strategies
	Fund, Inc.
	BlackRock Preferred	100	None	$1-$10,000
	Opportunity Trust

C-24

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Aggregate Dollar Range of Equity Securities in All Funds Overseen or To Be Overseen by the Board Member in Fund Complex	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund	Aggregate Dollar Range of Common Stock and Share Equivalents in all Funds
Independent Board Members:
(continued)
W. Carl Kester	BlackRock Real	100	None	$1-$10,000
(continued)	Asset Equity Trust
	BlackRock S&P	100	None	$1-$10,000
	Quality Rankings
	Global Equity
	Managed Trust
	BlackRock Senior	1,000	None	$1-$10,000
	High Income Fund, Inc.
	BlackRock Strategic	100	None	$1-$10,000
	Bond Trust
	BlackRock Strategic	100	None	$1-$10,000
	Dividend Achievers TM
	Trust
	BlackRock World	1,000	None	$10,001
	Investment Trust			-$50,000
Karen P. Robards	BlackRock Corporate		None		Over	661	$1-$10,000	Over
	High Yield Fund VI, Inc.				$100,000			$100,000
	BlackRock Enhanced	1026	None	$10,001
	Capital and Income			-$50,000
	Fund, Inc.
	BlackRock Enhanced		None			665	$1-$10,000
	Dividend Achievers TM
	Trust
	BlackRock Enhanced	912	None	$10,001
	Equity Yield Fund, Inc.			-$50,000
	BlackRock Global	400	None	$10,001		230	$1-$10,000
	Energy and			-$50,000
	Resources Trust
	BlackRock Global		None			489	$1-$10,000
	Floating Rate
	Income Trust
	BlackRock Health	500	None	$10,001
	Sciences Trust			-$50,000
	BlackRock		None			415	$1-$10,000
	International Growth
	and Income Trust
	BlackRock Limited		None			478	$1-$10,000
	Duration Income Trust
	BlackRock New York	750	None	$10,001
	Municipal 2018			-$50,000
	Term Trust
	BlackRock Preferred	675	None	$10,001
	and Corporate Income			-$50,000
	Strategies Fund
	BlackRock Preferred		None			438	$1-$10,000
	and Equity Advantage
	Trust

C-25

MARKER PAGE="sheet: 1; page: 1"

Name of Board Member	Fund Name	Number of Shares of Common Stock	Number of Shares of AMPS	Aggregate Dollar Range of Equity Securities in Each Fund	Number of Share Equivalents (1)	Aggregate Dollar Range of Share Equivalents in Each Fund
Independent Board Members:
(continued)
Karen P. Robards	BlackRock Preferred	690	None	$10,001	463	$1-$10,000
(continued)	Income Strategies			-$50,000
	Fund, Inc.
	BlackRock Real	700	None	$10,001
	Asset Equity Trust			-$50,000
	BlackRock New York	750	None	$10,001
	Insured Municipal			-$50,000
	2008 Term Trust
Robert S. Salomon, Jr.	None		None	None

(1) Represents, as of May 31, 2008, the approximate number of share equivalents owned under the deferred compensation plan in each Fund by certain Independent Board Members who have participated in the deferred compensation plan. Under the deferred compensation plan BlackRock International Growth and Income Trust, BlackRock Enhanced Dividend Achievers Trust, BlackRock Global Energy and Resources Trust, BlackRock Global Floating Rating Income Trust, BlackRock Limited Duration Income Trust, BlackRock Preferred and Equity Advantage Trust, BlackRock Corporate High Yield Fund VI, Inc. and BlackRock Preferred Income Strategies Fund, Inc. are eligible investments.

As of July 14, 2008, all Board Members and officers as a group owned less than 1% of the outstanding shares of each Fund for which they are nominated to oversee.

None of the Independent Board Members or their family members had any interest in BlackRock or any person directly or indirectly controlling, controlled by, or under common control with BlackRock as of May 31, 2008.

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Appendix D

Meetings of the Boards

During the most recent full fiscal year for each Fund listed in the table below, the Board met the following number of times:

Fund	Pre-Amended Fiscal Year End	Post-Amended Fiscal Year End	Number of Board Meetings
BAF	31-Aug	N/A	5
BBF	31-Oct	31-Jul	5
BBK	31-Aug	N/A	6
BCF	31-Oct	N/A	5
BCK	31-Aug	N/A	5
BCL	31-Aug	N/A	6
BCT	31-Oct	N/A	5
BDJ	31-Oct	N/A	5
BDT	31-Oct	N/A	5
BDV	31-Oct	N/A	5
BFC	31-Dec	N/A	6
BFD*	31-Oct	N/A	3
BFK	31-Oct	30-Apr	5
BFO	31-Dec	31-Jul	6
BFY	31-Aug	N/A	6
BFZ	31-Oct	31-Jul	5
BGR	31-Oct	N/A	5
BGT	31-Dec	31-Oct	6
BGY*	31-Oct	N/A	3
BHD	31-Oct	31-Aug	5
BHK	31-Oct	31-Aug	5
BHL*	31-Aug	N/A	3
BHV	31-Aug	N/A	6
BHY	31-Oct	31-Aug	5
BIE	31-Aug	N/A	6
BJZ	31-Dec	N/A	6
BKK	31-Dec	30-Apr	6
BKN	31-Oct	30-Apr	5
BKT	31-Oct	31-Aug	5
BLE	31-Aug	N/A	6
BLH	31-Dec	N/A	6
BLJ	31-Aug	N/A	6
BLN	31-Dec	N/A	6
BLW	31-Oct	31-Aug	5
BME	31-Oct	N/A	5
BMT	31-Dec	N/A	6
BNA	31-Oct	31-Aug	5
BNJ	31-Oct	31-Jul	5
BNY	31-Oct	31-Jul	5
BOE	31-Oct	N/A	5
BPK	31-Dec	N/A	6
BPP	31-Dec	31-Oct	6
BPS	31-Dec	30-Apr	6
BQH	31-Aug	N/A	6
BQR*	31-Oct	N/A	3
BQY	31-Oct	N/A	5
BRF	31-Dec	N/A	6
BRM	31-Dec	N/A	6

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Fund	Pre-Amended Fiscal Year End	Post-Amended Fiscal Year End	Number of Board Meetings
BSE	31-Aug	N/A	5
BTA	31-Oct	30-Apr	5
BTZ	31-Oct	N/A	6
BWC	31-Oct	N/A	5
BYM	31-Aug	N/A	5
BZA	31-Aug	N/A	6
BZM	31-Aug	N/A	6
HIS	31-Dec	31-Aug	6
MUA	31-May	30-Apr	6
RAA	31-Oct	31-Jul	5
RFA	31-Oct	31-Jul	5
RNJ	31-Oct	31-Jul	5
RNY	31-Oct	31-Jul	5

| * | BlackRock Defined Opportunity Credit Trust (BHL), BlackRock Global Equity
Income Trust (BFD), BlackRock International Growth and Income Trust (BGY)
and BlackRock EcoSolutions Investment Trust (BQR) commenced operations on
January 31, 2008, March 30, 2007, May 30, 2007, and September 28, 2007 respectively.
Number of meetings reflected are since the commencement of operations. |
| --- | --- |
| | The fiscal year end (FYE) for certain Funds was amended at
a meeting of the Boards in May 2008. However, the information reflected in this
chart is for the pre-amended FYE. |

No incumbent Board Member attended less than 75% of the aggregate number of meetings of each Board and of each committee of each Board on which the Board Member served.

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Appendix E

Standing Committees of the Boards

The business and affairs of each Fund are managed by or under the direction of its Board. The Board of each Fund has formed the following standing committees.

Audit Committee. Each Board, except the Board of BQR, has a standing Audit Committee comprised of Karen P. Robards, Kent Dixon, Frank J. Fabozzi, James T. Flynn, W. Carl Kester and Robert S. Salomon, Jr., each of whom is an Independent Board Member. The standing Audit Committee of BQR consists of the following Board Members: Richard E. Cavanagh, Frank J. Fabozzi and Kent Dixon, each of whom is an Independent Board Member. The primary purposes of each Boards Audit Committee are to assist the Board in fulfilling its responsibility for oversight of the integrity of the accounting, auditing and financial reporting practices of the Funds, the qualifications and independence of the Funds independent registered public accounting firm, and the Funds compliance with legal and regulatory requirements. The Audit Committees review the scope of the Funds audit, accounting and financial reporting policies and practices and internal controls. The Audit Committees approve, and recommend to the Independent Board Members for their ratification, the selection, appointment, retention or termination of the Funds independent registered public accounting firms. The Audit Committees also approve all audit and permissible non-audit services provided by the Funds independent registered public accounting firms to its manager or adviser and any affiliated service providers if the engagement relates directly to the Funds operations and financial reporting of the Fund. A copy of the Audit Committee Charter for each Fund is included in Appendix F .

Governance and Nominating Committee. Each Board has a standing Governance and Nominating Committee. Each Governance and Nominating Committee, except BQRs, is comprised of R. Glenn Hubbard, G. Nicholas Beckwith, III, Richard E. Cavanagh, Jerrold B. Harris and Kathleen F. Feldstein, each of whom is not an interested persons within the meaning of the 1940 Act. BQRs Governance and Nominating Committee is comprised of Richard E. Cavanagh, Kent Dixon, Frank J. Fabozzi, Kathleen F. Feldstein and R. Glenn Hubbard, each of whom is not an interested persons within the meaning of the 1940 Act.

Each Governance and Nominating Committee is responsible for, among other things, recommending candidates to fill vacancies on the Board, scheduling and organization of Board meetings, evaluating the structure and composition of the board and determining compensation of the Funds non-interested Board Members. Each Governance and Nominating Committee may consider nominees recommended by a shareholder. Shareholders who wish to recommend a nominee should send recommendations to the Funds Secretary that include all information relating to such person that is required to be disclosed in solicitations of proxies for the election of Board Members. To have a candidate considered by the Governance and Nominating Committee, a shareholder must submit the recommendation in writing and must include:

the name and record address of the shareholder, the class or series and number of shares of the Fund which are owned beneficially or of record by the shareholder, a description of all arrangements or understandings between the shareholder and each proposed candidate and any other person or persons (including their names) in connection with which the nomination(s) made by the shareholder, a representation that the shareholder intends to appear in person or by proxy at the meeting to nominate the persons named in its recommendation and any other information relating to the shareholder that would be required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for election of directors/trustees pursuant to Section 14 of the Exchange Act and the rules and regulations promulgated thereunder; and
the name, age, business address and residence address of the candidate(s), the principal occupation or employment of the candidate(s), the class or series and number of shares of the Fund which are owned beneficially or of record by the candidate(s), if any, and any other information relating to the candidate(s) that would be required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for election of directors/trustees pursuant to Section 14 of the Exchange Act.

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Such recommendation must be accompanied by a written consent of each proposed candidate to being named as a nominee and to serve as a director/trustee if elected. The Governance and Nominating Committee may also take into consideration the number of shares held by the recommending shareholder and the length of time that such shares have been held. A copy of the Governance and Nominating Committee Charter for each Fund is included in Appendix F .

Compliance Committee. Each Fund, except BQR, has a Compliance Committee composed of Kathleen F. Feldstein, G. Nicholas Beckwith, III, Richard E. Cavanagh, Jerrold B. Harris and R. Glenn Hubbard, each of whom is not an interested persons within the meaning of the 1940 Act. BQRs Compliance Committee is composed of Richard E. Cavanagh, Kent Dixon, Frank J. Fabozzi, Kathleen F. Feldstein and R. Glenn Hubbard, each of whom is not an interested persons within the meaning of the 1940 Act. The Compliance Committee performs those functions enumerated in the Compliance Committee charter, including, but not limited to, supporting the Board Members in acting independently of BlackRock Advisors in pursuing the best interests of the Funds and their shareholders, receiving information on and, where appropriate, recommending policies concerning the Funds compliance with applicable law, and receiving reports from and making certain recommendations in respect of the Funds Chief Compliance Officer.

Performance Oversight Committee. Each Fund, except BQR, has a Performance Oversight Committee composed of all of the Independent Board Members. BQRs Performance Oversight Committee is comprised of Richard E. Cavanagh, Kent Dixon, Frank J. Fabozzi, Kathleen F. Feldstein R. Glenn Hubbard and Richard S. Davis. The Performance Oversight Committee acts in accordance with the Performance Oversight Committee charter. The Performance Oversight Committee performs those functions enumerated in the Performance Oversight Committee charter, including, but not limited to, supporting the Board Members who are not interested persons, within the meaning of the 1940 Act, of the Funds in acting independently of BlackRock in pursuing the best interests of the Funds and their shareholders, developing an understanding of and reviewing the investment objective, policies and practices of the Funds, and reviewing with respect to the Funds: (a) whether the Funds have complied with their investment policies and restrictions as reflected in its prospectus and statement of additional information, (b) appropriate benchmarks and competitive universes, (c) investment performance, (d) unusual or exceptional investment matters, and (e) other matters bearing on the Funds investment results.

Executive Committee. Each Fund has an Executive Committee composed of Messrs. Cavanagh and Davis, which acts on behalf of the full Board on certain matters in the interval between meetings of the Board.

Each Governance and Nominating Committee, each Audit Committee, each Compliance Committee and each Performance Oversight Committee met the following number of times for each Funds most recent fiscal year:

Fund	Pre-Amended Fiscal Year End	Post-Amended Fiscal Year End	Number of Audit Committee Meetings	Number of Governance and Nominating Committee Meetings	Number of Compliance Committee Meetings	Number of Performance Oversight Committee Meeting
APX	30-Jun	30-Apr	4	3	3	3
BAF	31-Aug	N/A	7	4	4	4
BBF	31-Oct	31-Jul	7	4	4	4
BBK	31-Aug	N/A	7	4	4	4
BCF	31-Oct	N/A	7	4	4	4
BCK	31-Aug	N/A	7	4	4	4
BCL	31-Aug	N/A	7	4	4	4
BCT	31-Oct	N/A	7	4	4	4
BDJ	31-Oct	N/A	7	4	4	4
BDT	31-Oct	N/A	7	4	4	4
BDV	31-Oct	N/A	7	4	4	4
BFC	31-Dec	N/A	7	4	4	4
BFD*	31-Oct	N/A	5	2	2	2
BFK	31-Oct	30-Apr	7	4	4	4
BFO	31-Dec	31-Jul	7	4	4	4

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Fund	Pre-Amended Fiscal Year End	Post-Amended Fiscal Year End	Number of Audit Committee Meetings	Number of Governance and Nominating Committee Meetings	Number of Compliance Committee Meetings	Number of Performance Oversight Committee Meeting
BFY	31-Aug	N/A	7	4	4	4
BFZ	31-Oct	31-Jul	7	4	4	4
BGR	31-Oct	N/A	7	4	4	4
BGT	31-Dec	31-Oct	7	4	4	4
BGY*	31-Oct	N/A	3	1	1	1
BHD	31-Oct	31-Aug	7	4	4	4
BHK	31-Oct	31-Aug	7	4	4	4
BHL*	31-Aug	N/A	2	2	2	2
BHV	31-Aug	N/A	7	4	4	4
BHY	31-Oct	31-Aug	7	4	4	4
BIE	31-Aug	N/A	7	4	4	4
BJZ	31-Dec	N/A	7	4	4	4
BKK	31-Dec	30-Apr	7	4	4	4
BKN	31-Oct	30-Apr	7	4	4	4
BKT	31-Oct	31-Aug	7	4	4	4
BLE	31-Aug	N/A	7	4	4	4
BLH	31-Dec	N/A	7	4	4	4
BLJ	31-Aug	N/A	7	4	4	4
BLN	31-Dec	N/A	7	4	4	4
BLW	31-Oct	31-Aug	7	4	4	4
BME	31-Oct	N/A	7	4	4	4
BMT	31-Dec	N/A	7	4	4	4
BNA	31-Oct	31-Aug	7	4	4	4
BNJ	31-Oct	31-Jul	7	4	4	4
BNY	31-Oct	31-Jul	7	4	4	4
BOE	31-Oct	N/A	7	4	4	4
BPK	31-Dec	N/A	7	4	4	4
BPP	31-Dec	31-Oct	7	4	4	4
BPS	31-Dec	30-Apr	7	4	4	4
BQH	31-Aug	N/A	7	4	4	4
BQR*	31-Oct	N/A	1	0	0	0
BQY	31-Oct	N/A	7	4	4	4
BRF	31-Dec	N/A	7	4	4	4
BRM	31-Dec	N/A	7	4	4	4
BSD	31-Dec	30-Apr	7	4	4	4
BSE	31-Aug	N/A	7	4	4	4
BTA	31-Oct	30-Apr	7	4	4	4
BTZ	31-Oct	N/A	7	4	4	4
BWC	31-Oct	N/A	7	4	4	4
BYM	31-Aug	N/A	7	4	4	4
BZA	31-Aug	N/A	7	4	4	4
BZM	31-Aug	N/A	7	4	4	4
HIS	31-Dec	31-Aug	7	4	4	4
MUA	31-May	30-Apr	5	3	3	3
RAA	31-Oct	31-Jul	7	4	4	4
RFA	31-Oct	31-Jul	7	4	4	4
RNJ	31-Oct	31-Jul	7	4	4	4
RNY	31-Oct	31-Jul	7	4	4	4

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Appendix F

Joint Audit Committee Charter of The BlackRock Closed-End Funds

A. Background

Each of the closed-end funds managed by BlackRock Advisors, LLC or its affiliates (collectively, BlackRock) is referred to as the Fund; the Board of Directors/Trustees of the Fund is referred to as the Board of Directors and its members are referred to as the Directors; and the Directors who are not interested persons (as such term is defined in the Investment Company Act of 1940) of the Fund are referred to as the Independent Directors. The Board of Directors, including at least a majority of the Independent Directors, has adopted this Charter. The Audit Committee is referred to as the Committee.

B. Purposes of the Committee

The purpose of the Committee is to assist the Board in fulfilling its oversight responsibilities relating to the accounting and financial reporting policies and practices of the Fund, including:

(1) the integrity of the Funds financial statements;

(2) the Funds compliance with legal and regulatory requirements;

(3) the qualifications and independence of the Funds independent auditors;

(4) the performance of the Funds internal audit function provided by its investment advisor, administrator, pricing agent or other service providers; and

(5) preparing for each Fund the report required to be included in its annual proxy statement, if any, by the rules of the Securities and Exchange Commission.

C. The Members of the Committee

The Committee shall be composed of at least three members of the Board, each of whom is an Independent Director. No member of the Committee shall directly or indirectly receive any compensation from the Fund, except compensation for services as a member or officer of the Funds Board or a committee of the Board. Members shall have no relationships with the Fund, BlackRock or the Funds administrator or custodian that may interfere with the exercise of their independence from management of the Fund. The members and the Committee chair will be elected by the full Board. The Chairman of the Board may designate an acting Chair in the absence of the Chair.

Each member shall be financially literate as the Board interprets such qualification in its business judgment. At least one member shall have accounting or related financial management expertise, as the Board interprets such qualification in its business judgment. The Board shall determine annually whether any member of the Committee is an audit committee financial expert (ACFE) as defined in Item 3 of Form N-CSR. The Board may presume that an ACFE has the requisite accounting or related financial management expertise. The designation of a person as an ACFE shall not impose any greater responsibility or liability on that person than the responsibility or liability imposed on such person as a member of the Committee.

If a member simultaneously serves on the audit committees of more than three public companies, the Board shall determine whether such simultaneous service would impair the ability of such member to effectively serve on the Funds audit committee. The Board has determined that simultaneous service on the Committee of each Fund shall be deemed to be equivalent to service on the audit committee of a single public company for purposes of this requirement and that such service does not impair the ability of a member to effectively serve on the Committee of any single Fund.

1 For this purpose, compensation includes any compensation paid by a Fund or a subsidiary for services to a law firm, accounting firm, consulting firm, investment bank or financial advisory firm in which the Committee member is a partner, member, executive officer or holds a similar position.

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D. Chair; Functions of the Chair

The Chair will have the following responsibilities:

(1) The Chair will preside at all meetings of the Committee. Any designated alternate will preside in the Chairs absence.

(2) The Chair will be responsible for reviewing and providing direction on meeting agendas.

(3) The Chair will coordinate with the chairs of other committees as appropriate.

(4) The Chair will assist in identifying and bringing to the attention of the Chairman of the Board issues that should be considered by the Board of Directors, the Independent Directors or any other committee.

(5) At meetings of the Board of Directors the Chair will report on the Committees recommendations on applicable resolutions and on any important actions by or discussions at the Committee.

E. Meetings and Procedures of the Committee

(1) The Committee will generally meet on a quarterly basis, or more frequently as called by the Chair. The Chair or a majority of the members of the Committee may call a special meeting of the Committee.

(2) The Committee may determine its own rules of procedure, which shall be consistent with the charter document of the Fund, the Bylaws of the Fund and this Charter.

(3) A majority of the members of the Committee, present in person or by means of a conference telephone or other communications equipment by means of which all persons participating in the meeting can communicate with each other, shall constitute a quorum. The Committee may take action by written consent if at least the number of Directors required for approval at a meeting consent to the action in writing and the written consents are filed with the records of meetings of the Committee, unless otherwise required by applicable law.

(4) The Committee may request that any Director, officer or employee of a Fund, or other persons whose advice and counsel are sought by the Committee, attend any meeting of the Committee to provide such information as the Committee requests.

(5) The Committee shall cause to be kept written minutes of its meetings, which minutes shall be maintained with the books and records of the Fund.

(6) Meetings of the Committee will be open to all Independent Directors.

F. Duties and Responsibilities

The Committee shall have the following duties and responsibilities:

Engagement of Auditors. The Committee will approve the selection, retention, termination and compensation of the independent registered public accounting firm (the independent accountants) for the Fund.
Auditor Reporting. The Committee will:

| (a) | Be the representative of the Fund to which each independent
accountant reports. |
| --- | --- |
| (b) | Have sole authority to hire and fire any independent accountant
of the Fund. |
| (c) | Approve all audit engagement fees and terms for the Fund. |
| (d) | Consider and act upon (i) the provision by any independent
accountant of any non- audit services for any Fund, and (ii) the provision
by any independent accountant of non-audit services to Fund service providers
and their affiliates to the extent that such |

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| | approval (in the case of this clause (ii)) is required under applicable
regulations (the Auditor Independence Regulations) of the Securities
and Exchange Commission. In furtherance of the foregoing, the Committee
may from time to time adopt and provide oversight in respect of policies
and procedures for non-audit engagements by independent accountant of the
Fund. |
| --- | --- |
| 3. Independence
of Auditors. | |
| (a) | Evaluate the independence and objectivity of the independent
accountant and actively engage in a dialogue with them regarding matters
that might reasonably be expected to affect their independence; in this
connection, the Committee shall ensure receipt from the independent accountants
at least annually of a formal written statement delineating all the relationships
between them and the Fund, consistent with Independence Standards Board
Standard No. 1. |
| (b) | Provide oversight of BlackRocks hiring policies for employees
or former employees of the independent accountants and receive reports in
respect thereof. |
| 4. Oversight. | |
| (a) | Meet with the Funds independent accountants, at least
twice a year and more often if in its discretion, to review the conduct
and results of each audit and discuss the Funds audited and unaudited
financial statements; and in this connection discuss the matters stated
in SAS 61 Communications with Audit Committees, as amended,
and any other communications required to be discussed with the Committee
pursuant to applicable laws, regulations, listing agreements and rules of
any applicable SRO. |
| (b) | Discuss with BlackRock its policies with respect to risk assessment
and risk management. |
| (c) | Meet periodically with the Funds independent accountants,
the Funds principal executive officer and the Fund principal
financial officer, and internal auditors in separate executive sessions
as the Committee deems necessary or advisable. |
| (d) | Review any issues raised by the independent accountants or
management regarding the accounting or financial reporting policies and
practices of the Fund, its internal controls, and, as appropriate, the internal
controls of certain service providers and managements response; evaluate
the independent auditors qualifications and performance (including
the performance of the lead partner); resolve disagreements between management
and the independent accountants regarding financial reporting. |
| (e) | Provide oversight of procedures for the receipt, retention
and treatment of complaints received by the Fund relating to accounting,
internal accounting controls, or auditing matters, and the confidential,
anonymous submission by employees of the Fund and its affiliates and service
providers of concerns about accounting or auditing matters pertaining to
the Fund. |
| (f) | Provide oversight in respect of reports from attorneys or auditors
of possible violations of federal or state law or fiduciary duty. |
| (g) | Provide oversight in respect of any legal matters brought to
the Committees attention that may have a material impact on the Funds
financial statements and any material reports or inquiries received from
regulators or governmental agencies. These matters may also be reviewed
by the Compliance Committee. |
| (h) | Receive reports from each independent accountant engaged by
the Fund describing (i) any material issues raised by the most recent internal
quality control review, peer review or Public Company Accounting Oversight
Board examination of the auditing firm and any steps taken to deal with
such issues, and (ii) any material issues raised by any inquiry or investigations
by governmental or professional authorities of the auditing firm since the
most recent report and any steps taken to deal with such issues. |

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| | Discuss generally the Funds earnings press releases,
as applicable, and financial information and earnings guidance provided
to analysts and ratings agencies. |
| --- | --- |
| (j) | Authorize and oversee investigations into any matters within
the Committees scope of responsibilities or as specifically delegated
to the Committee by the Board. |
| 5. Reports. | |
| (a) | Prepare and approve the audit committee report required by
Item 306 of Regulation S-K for proxy statements relating to the election
of directors/trustees. |
| (b) | Report to the Board on a regular basis. |
| 6. Other. Take such other actions as the Committee deems necessary or desirable
to fulfill its purpose as described above. | |

G. Resources

The Committee may retain independent legal counsel or other advisers as it determines to be necessary or advisable to perform its duties. The Fund shall provide appropriate funding (as determined by the Committee) for the Committee to carry out its duties and its responsibilities, including:

(1) for payment of compensation to the Funds independent accountants or any other public accounting firm providing audit, review or attest services for the Fund;

(2) for payment of compensation to any special counsel and other advisors employed by the Committee;

(3) for the ordinary administrative expenses of the Committee; and

(4) for continuing education programs to enable Committee members to keep abreast of industry and regulatory development and to gain continuing insights to best practices of audit committees.

In performing its duties the Committee may consult, as it deems appropriate, with the members of the Board, officers and employees of the Fund, the investment adviser, the Funds counsel and the Funds other service providers.

H. Self-Assessment; Amendment of Charter

The Committee shall, on an annual basis, assess its performance. The Committee shall evaluate whether this Charter appropriately addresses the matters that are or should be within its scope. The independence of Committee members and satisfaction of the requirements to serve on the Committee shall be affirmed annually.

The Committee shall report to the Board on an annual basis on the results of its evaluation, including any recommended amendments to this Charter, and any recommended changes to the Funds or the Boards policies or procedures.

The Committee may from time to time recommend to the Board such amendments to this Charter as the Committee determines to be necessary or appropriate.

Note: Solely for the sake of clarity and simplicity, this Joint Audit Committee Charter has been drafted as if there is a single Fund, a single Performance Oversight Committee, a single Audit Committee, a single Governance and Nominating Committee, a single Compliance Committee and a single Board. The terms Performance Oversight Committee, Audit Committee, Governance and Nominating Committee, Compliance Committee and Board mean each Performance Oversight Committee, Audit Committee, Governance and Nominating Committee, Compliance Committee and Board as it relates to its respective Fund, unless the context otherwise requires. Each Performance Oversight Committee, Audit Committee, Governance and Nominating Committee, Compliance Committee and Board of each Fund shall act separately and in the best interests of its respective Fund.

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Joint Governance and Nominating Committee Charter of the BlackRock Closed-End Funds

I. Background

Each of the closed-end trusts managed by BlackRock Advisors, LLC or its affiliates (collectively, BlackRock) is referred to as the Fund; the Board of Directors/Trustees of the Fund is referred to as the Board of Directors and its members are referred to as the Directors; and the Directors who are not interested persons (as such term is defined in the Investment Company Act of 1940) of the Fund are referred to as the Independent Directors. The Board of Directors, including at least a majority of the Independent Directors, has adopted this Charter. The Governance and Nominating Committee is referred to as the Committee.

J. Purpose of the Committee

The purposes of the Committee are to:

(1) support the Independent Directors in pursuing the best interests of the Fund and its shareholders,

(2) identify individuals qualified to serve as Independent Directors,

(3) advise the Board of Directors with respect to Board composition, procedures and committees (other than the Audit Committee),

(4) oversee periodic self-assessments of the Board of Directors and committees of the Board of Directors (other than the Audit Committee),

(5) monitor corporate governance matters and make recommendations in respect thereof to the Board of Directors,

(6) act as the administrative committee with respect to Board of Directors policies and procedures, committee policies and procedures (other than the Audit Committee) and codes of ethics as they relate to Independent Directors, and

(7) Review and make recommendations in respect of Independent Director Compensation.

K. Composition of the Committee

The Committee will have at least three members, all of whom will be Independent Directors. The members and the Chair of the Committee will be determined annually by vote of the Independent Directors. The Chairman of the Board may designate an acting chair in the absence of the Chair.

L. Chair; Functions of the Chair

(1) The Chair will have the following responsibilities:

(2) The Chair will preside at all meetings of the Committee. Any designated alternate will preside in the Chairs absence.

(3) The Chair will be responsible for reviewing and providing direction on meeting agendas.

(4) The Chair will coordinate with the chairs of other committees as appropriate.

(5) The Chair, reflecting the views of Committee members, will engage BlackRock in a dialogue on the scope and contents of materials furnished to the Committee.

(6) The Chair will assist in identifying and bringing to the attention of the Chairman of the Board issues that should be considered by the Board of Directors, the Independent Directors or any other committee.

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(7) At meetings of the Board of Directors the Chair will report on the Committees recommendations on applicable resolutions and on any important actions by or discussions at the Committee.

(8) The Chair will coordinate with counsel for the Funds on matters requiring legal advice, and will coordinate with counsel to the Independent Directors on matters involving conflicts of interest with BlackRock.

M. Meetings and Procedures of the Committee

(2) The Committee may determine its own rules of procedure, which shall be consistent with the charter document of the Fund, the Bylaws of the Fund and this Charter.

(5) The Committee shall cause to be kept written minutes of its meetings, which minutes shall be maintained with the books and records of the Fund.

(6) Meetings of the Committee will be open to all Independent Directors.

N. Particular Actions of the Committee

(1) Board Candidates and Nominees. The Committee shall have the following goals and responsibilities with respect to Board candidates and nominees:

| 1. | Make recommendations as to the Independent Directors
criteria for evaluating potential nominees. (The present criteria are attached
as Annex A.) |
| --- | --- |
| 2. | Recommend Independent Director nominees for election by the
shareholders or appointment by the Board. In assessing candidates for the
office of Independent Director the Committee shall give appropriate weight
to the criteria referred to in clause (a). |
| 3. | Review the suitability for continued service as a director
of each Independent Director when his or her term expires and at such other
times as the Committee deems necessary or appropriate, and to recommend
whether or not the Independent Director should be re-nominated. |

(2) Board Composition and Procedures. The Committee shall have the following goals and responsibilities with respect to the composition and procedures of the Board as a whole:

| 1. | Review periodically with the Board the size and composition
of the Board as a whole and recommend, if necessary, measures to be taken
so that the Board reflects the appropriate balance of knowledge, experience,
skills, expertise and diversity required for the Board as a whole and contains
at least the minimum number of Independent Directors required by law. |
| --- | --- |
| 2. | Make recommendations on the frequency and structure of Board
meetings. |
| 3. | Make recommendations concerning any other aspect of the procedures
of the Board that the Committee considers warranted. |

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| 4. | Make recommendations on the requirements for, and means of,
Board orientation and training. |
| --- | --- |
| 5. | Act as the administrative committee under the Trustees
Fee Deferral Plan. |
| 6. | Make recommendations as to the Independent Directors
compensation. |

(3) Corporate Governance. The following shall be the goals and responsibilities of the Committee with respect to governance matters:

| 1. | Consider any corporate governance issues that arise from time
to time, and to develop appropriate recommendations for the Board giving
appropriate weight to relevant factors including industry best practices. |
| --- | --- |
| 2. | Monitor compliance with, and act as the administrative committee
with respect to, the provisions of the Code of Ethics pursuant to Rule 17j-1(c)
under the 1940 Act as they apply to the Independent Directors. |
| 3. | Provide oversight of Fund counsel. |

(4) Board Committees. The following shall be the goals and responsibilities of the Committee with respect to the committee structure of the Board. The following provisions shall not apply to the Audit Committee, which will be supervised by the Board:

| 1. | Make recommendations to the Board regarding the size and composition
of each committee of the Board, including the identification of individuals
to serve as members of a committee, and recommend individual Directors to
fill any vacancy that might occur on a committee. |
| --- | --- |
| 2. | Monitor the functioning of the committees of the Board and
to make recommendations for any changes, including the creation or elimination
of committees, the orientation of committee members, the annual review performed,
if any, by each committee. |
| 3. | Recommend that the Board establish such special committees
as may be desirable or necessary from time to time. |

(5) Self-Assessment of the Board. The Committee shall be responsible for overseeing the annual self- assessment of the Board. The Committee shall address all matters that the Committee considers relevant to the Boards performance.

The Committee shall report to the Board on the results of its evaluation, including any recommended amendments to the principles of corporate governance, and any recommended changes to the Funds or the Boards policies or procedures.

O. Self-Assessment of the Committee

The Committee shall, on an annual basis, assess its performance. The Committee shall address matters that the Committee considers relevant to its performance.

The Committee may from time to time recommend to the Board such amendments to this Charter as the Committee determines to be necessary or appropriate.

P. Consultants; Investigations and Studies; Outside Advisers

The Committee will have authority, upon consultation with the Chairman of the Board, to retain and terminate any third-party advisers, including authority to approve fees and other retention terms. The Committee may conduct or authorize investigations into or studies of matters within the Committees scope of responsibilities, and may retain, at the Funds expense, such independent counsel or other advisers as it deems necessary. The Committee may call upon the Funds independent accountants (with the concurrence of the Audit Committee) or other third parties for such fact-finding and analysis as may be appropriate in light of the objectives of this Charter.

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Note: Solely for the sake of clarity and simplicity, this Joint Governance and Nominating Committee Charter has been drafted as if there is a single Fund, a single Performance Oversight Committee, a single Audit Committee, a single Governance and Nominating Committee, a single Compliance Committee and a single Board. The terms Performance Oversight Committee, Audit Committee, Governance and Nominating Committee, and Compliance Committee and Board mean each Performance Oversight Committee, Audit Committee, Governance and Nominating Committee and Compliance Committee and Board as it relates to its respective Fund, unless the context otherwise requires. Each Performance Oversight Committee, Audit Committee, Governance and Nominating Committee and Compliance Committee and Board of each Fund shall act separately and in the best interests of its respective Fund.

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Appendix G

Officers of the Funds

The officers of each Fund, their year of birth and their principal occupations during the past five years (their titles may have varied during that period) are shown in the tables below. The address of each officer is BlackRock, Inc., 40 E. 52nd Street, New York, NY 10022.

Officers receive no compensation from the Funds, although they may be reimbursed for reasonable travel expenses for attending meetings of the Boards.

Each officer is an interested person of the Funds, as defined in the 1940 Act, by virtue of that individuals position with BlackRock or its affiliates described in the table below.

Information Pertaining to the Officers

| Name, Address and
Year of Birth | Position(s) Held with Funds | Length of Time Served | Principal Occupation(s) During Past 5 Years |
| --- | --- | --- | --- |
| Donald C. Burke | President and Chief Executive | Since 2007 | Managing Director of BlackRock, Inc. |
| 40 East 52nd Street | Officer of the Funds | | since 2006; Formerly Managing |
| New York, NY 10022 | | | Director of Merrill Lynch Investment |
| | | | Managers, L.P. (MLIM) and Fund |
| 1960 | | | Asset Management, L.P. (FAM) in |
| | | | 2006; First Vice President thereof |
| | | | from 1997 to 2005; Treasurer thereof |
| | | | from 1999 to 2006 and Vice |
| | | | President thereof from 1990 to 1997. |
| Anne F. Ackerley | Vice President of the Funds | Since 2007 | Managing Director of BlackRock, Inc. |
| 40 East 52nd Street | | | since 2000 and First Vice President |
| New York, NY 10022 | | | and Chief Operating Officer of |
| | | | Mergers and Acquisitions Group from |
| 1962 | | | 1997 to 2000; First Vice President |
| | | | and Chief Operating Officer of Public |
| | | | Finance Group thereof from 1995 to |
| | | | 1997; First Vice President of |
| | | | Emerging Markets Fixed Income |
| | | | Research of Merrill Lynch & Co., Inc. |
| | | | from 1994 to 1995. |
| Neal J. Andrews | Chief Financial Officer of the | Since 2007 | Managing Director of BlackRock, Inc. |
| 40 East 52nd Street | Funds | | since 2006; Formerly Senior Vice |
| New York, NY 10022 | | | President and Line of Business Head |
| | | | of Fund Accounting and |
| 1966 | | | Administration at PFPC Inc. from |
| | | | 1992 to 2006. |
| Jay M. Fife | Treasurer of the Funds | Since 2007 | Managing Director of BlackRock, Inc. |
| 40 East 52nd Street | | | since 2007 and Director in 2006; |
| New York, NY 10022 | | | Formerly Assistant Treasurer of the |
| | | | MLIM/FAM-advised Funds from 2005 |
| 1970 | | | to 2006; Director of MLIM Fund |
| | | | Services Group from 2001 to 2006. |

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| Name, Address and
Year of Birth | Position(s) Held with Funds | Length of Time Served | Principal Occupation(s) During Past 5 Years |
| --- | --- | --- | --- |
| Brian P. Kindelan | Chief Compliance Officer of the | Since 2007 | Chief Compliance Officer of the |
| 40 East 52nd Street | Funds | | BlackRock-advised Funds since 2007; |
| New York, NY 10022 | | | Anti-Money Laundering Officer of the |
| | | | Funds since 2007; Managing Director |
| 1959 | | | and Senior Counsel of BlackRock, Inc. |
| | | | since 2005; Director and Senior |
| | | | Counsel of BlackRock Advisors, Inc. |
| | | | from 2001 to 2004 and Vice President |
| | | | and Senior Counsel thereof from 1998 |
| | | | to 2000; Senior Counsel of The PNC |
| | | | Bank Corp. from 1995 to 1998. |
| Howard Surloff | Secretary of the Funds | Since 2007 | Managing Director of BlackRock, Inc. |
| 40 East 52nd Street | | | and General Counsel of U.S. Funds at |
| New York, NY 10022 | | | BlackRock, Inc. since 2006; Formerly |
| | | | General Counsel (U.S.) of Goldman |
| 1965 | | | Sachs Asset Management, L.P. from |
| | | | 1993 to 2006. |

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Appendix H

Audit Fees, Audit Related Fees, Tax Fees and All Other Fees to Independent Registered Public Accountants Audit Fees and Audit Related Fees

Fund	Pre-Amended Fiscal Year End	Post-Amended Fiscal Year End	Audit Fees — Most Recent Fiscal Year ($)	Fiscal Year Prior to Most Recent Fiscal Year End ($)		Audit Related Fees — Most Recent Fiscal Year ($)	Fiscal Year Prior to Most Recent Fiscal Year End ($)
APX	30-Jun	30-Apr	28,000	28,000
BAF	31-Aug	N/A	29,700	29,700		1,975	2,000
BBF	31-Oct	31-Jul	27,600	29,600		1,975	2,000
BBK	31-Aug	N/A	30,500	30,500		1,975	2,000
BCF	31-Oct	N/A	38,800	41,500	*
BCK	31-Aug	N/A	28,400	28,400		1,975	2,000
BCL	31-Aug	N/A	29,500	29,500		1,975	2,000
BCT	31-Oct	N/A	32,900	32,900
BDJ	31-Oct	N/A	41,300	46,600
BDT	31-Oct	N/A	34,500	36,700
BDV	31-Oct	N/A	34,700	39,000
BFC	31-Dec	N/A	29,100	30,900		1,975	1,975
BFD	31-Oct	N/A	43,700	N/A	±		N/A	±
BFK	31-Oct	30-Apr	33,300	34,500		1,975	2,000
BFO	31-Dec	31-Jul	27,900	29,700		1,975	1,975
BFY	31-Aug	N/A	28,300	28,300		1,975	2,000
BFZ	31-Oct	31-Jul	28,900	30,800		1,975	2,000
BGR	31-Oct	N/A	38,600	42,100
BGT	31-Dec	31-Oct	44,000	45,700		1,975	1,975
BGY	31-Oct	N/A	48,200	N/A	±		N/A	±
BHD	31-Oct	31-Aug	33,000	32,800
BHK	31-Oct	31-Aug	67,900	67,200
BHL	31-Aug	N/A	N/A	N/A		N/A	N/A
BHV	31-Aug	N/A	15,600	15,600		1,975	2,000
BHY	31-Oct	31-Aug	33,500	33,400		5,000	5,000
BIE	31-Aug	N/A	27,800	27,800		1,975	2,000
BJZ	31-Dec	N/A	28,100	30,000		1,975	1,975
BKK	31-Dec	30-Apr	31,500	29,700		1,975	1,975
BKN	31-Oct	30-Apr	29,100	31,000		1,975	2,000
BKT	31-Oct	31-Aug	68,400	67,600
BLE	31-Aug	N/A	35,200	35,200		1,975	2,000
BLH	31-Dec	N/A	27,500	32,300		1,975	1,975
BLJ	31-Aug	N/A	27,400	27,400		1,975	2,000
BLN	31-Dec	N/A	29,300	31,100		1,975	1,975
BLW	31-Oct	31-Aug	44,200	43,000
BME	31-Oct	N/A	35,300	36,300
BMT	31-Dec	N/A	31,000	32,500		1,975	1,975
BNA	31-Oct	31-Aug	68,000	67,300
BNJ	31-Oct	31-Jul	27,700	29,800		1,975	2,000
BNY	31-Oct	31-Jul	28,500	30,500		1,975	2,000
BOE	31-Oct	N/A	42,000	43,300
BPK	31-Dec	N/A	30,500	32,300		1,975	1,975
BPP	31-Dec	31-Oct	38,900	41,700		1,975	1,975
BPS	31-Dec	30-Apr	18,000	19,900		1,975	1,975
BQH	31-Aug	N/A	27,500	27,500		1,975	2,000
BQR	31-Oct	N/A	35,400	N/A	±		N/A	±
BQY	31-Oct	N/A	33,500	34,000
BRF	31-Dec	N/A	28,600	30,400		1,975	1,975

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Fund	Pre-Amended Fiscal Year End	Post-Amended Fiscal Year End	Audit Fees — Most Recent Fiscal Year ($)	Fiscal Year Prior to Most Recent Fiscal Year End ($)		Audit Related Fees — Most Recent Fiscal Year ($)	Fiscal Year Prior to Most Recent Fiscal Year End ($)
BRM	31-Dec	N/A	33,300	34,800		1,975	1,975
BSD	31-Dec	30-Apr	28,200	30,200		1,975	1,975
BSE	31-Aug	N/A	28,900	28,900		1,975	2,000
BTA	31-Oct	30-Apr	28,400	28,200	*		5,000	*
BTZ	31-Oct	N/A	46,200	N/A	±		N/A	±
BWC	31-Oct	N/A	44,000	47,800
BYM	31-Aug	N/A	36,200	29,700		1,975	2,000
BZA	31-Aug	N/A	27,800	27,800		1,975	2,000
BZM	31-Aug	N/A	27,300	27,300		1,975	2,000
HIS	31-Dec	31-Aug	35,300	35,000		5,000	5,000
MUA	31-May	30-Apr	26,400	28,000
RAA	31-Oct	31-Jul	15,100	17,400		1,975	2,000
RFA	31-Oct	31-Jul	15,200	17,400		1,975	2,000
RNJ.	31-Oct	31-Jul	15,100	17,400		1,975	2,000
RNY	31-Oct	31-Jul	15,200	17,400		1,975	2,000

| | The fiscal year end (FYE) for certain Funds was amended at
a meeting of the Boards in May 2008. However, all information provided in
this appendix, unless otherwise noted, is for the pre-amended FYE. |
| --- | --- |
| * | BTA and BCF had not completed a full fiscal year. However, BTA and BCF
had nonetheless paid to D&T fees for professional services rendered
for the audit of their annual financial statements. |
| | BHL has not completed a full fiscal year. |
| ± | BFD, BGY, BQR and BTZ had not yet been formed in the fiscal year preceding
the most recent one. |

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Tax Fees and All Other Fees

Fund	Pre-Amended Fiscal Year End	Post-Amended Fiscal Year End	Tax Fees — Most Recent Fiscal Year ($)	Fiscal Year Prior to Most Recent Fiscal Year End ($)		All Other Fees — Most Recent Fiscal Year ($)	Fiscal Year Prior to Most Recent Fiscal Year End ($)
APX	30-Jun	30-Apr	6,100	6,000
BAF	31-Aug	N/A	6,100	8,000		1,042	900
BBF	31-Oct	31-Jul	6,100	8,000		1,042	700
BBK	31-Aug	N/A	6,100	8,000		1,042	1,100
BCF	31-Oct	N/A	6,100	8,000	*	1,042
BCK	31-Aug	N/A	6,100	8,000		1,042	500
BCL	31-Aug	N/A	6,100	8,000		1,042	800
BCT	31-Oct	N/A	6,100	8,000		1,042	300
BDJ	31-Oct	N/A	6,100	8,000		1,042	1,400
BDT	31-Oct	N/A	6,100	8,000		1,042	2,600
BDV	31-Oct	N/A	6,100	8,000		1,042	5,300
BFC	31-Dec	N/A	6,100	8,000		1,042	1,300
BFD	31-Oct	N/A	6,100		±	1,042		±
BFK	31-Oct	30-Apr	6,100	8,000		1,042	4,300
BFO	31-Dec	31-Jul	6,100	8,000		1,042	600
BFY	31-Aug	N/A	6,100	8,000		1,042	500
BFZ	31-Oct	31-Jul	6,100	8,000		1,042	1,500
BGR	31-Oct	N/A	6,100	8,000		1,042	5,000
BGT	31-Dec	31-Oct	6,100	8,000		1,042	3,400
BGY	31-Oct	N/A	6,100		±			±
BHD	31-Oct	31-Aug	6,100	8,000		1,042	700
BHK	31-Oct	31-Aug	6,100	8,000		1,042	2,600
BHL	31-Aug	N/A	N/A	N/A		N/A	N/A
BHV	31-Aug	N/A	6,100	8,000		1,042	200
BHY	31-Oct	31-Aug	6,100	8,000		1,042	300
BIE	31-Aug	N/A	6,100	8,000		1,042	400
BJZ	31-Dec	N/A	6,100	8,000		1,042	700
BKK	31-Dec	30-Apr	6,100	8,000		1,042	2,300
BKN	31-Oct	30-Apr	6,100	8,000		1,042	1,800
BKT	31-Oct	31-Aug	6,100	8,000		1,042	2,900
BLE	31-Aug	N/A	6,100	8,000		1,042	2,400
BLH	31-Dec	N/A	6,100	8,000		1,042	400
BLJ	31-Aug	N/A	6,100	8,000		1,042	300
BLN	31-Dec	N/A	6,100	8,000		1,042	1,400
BLW	31-Oct	31-Aug	6,100	8,000		1,042	4,700
BME	31-Oct	N/A	6,100	8,000		1,042	1,200
BMT	31-Dec	N/A	6,100	8,000		1,042	2,100
BNA	31-Oct	31-Aug	6,100	8,000		1,042	2,700
BNJ	31-Oct	31-Jul	6,100	8,000		1,042	800
BNY	31-Oct	31-Jul	6,100	8,000		1,042	1,300
BOE	31-Oct	N/A	6,100	8,000		1,042	400
BPK	31-Dec	N/A	6,100	8,000		1,042	1,900
BPP	31-Dec	31-Oct	6,100	8,000		1,042	3,500
BPS	31-Dec	30-Apr	6,100	8,000		1,042	200
BQH	31-Aug	N/A	6,100	8,000		1,042	300
BQR	31-Oct	N/A	6,100		±	1,042		±
BQY	31-Oct	N/A	6,100	8,000		1,042	600
BRF	31-Dec	N/A	6,100	8,000		1,042	1,000
BRM	31-Dec	N/A	6,100	8,000		1,042	3,300
BSD	31-Dec	30-Apr	6,100	8,000		1,042	900
BSE	31-Aug	N/A	6,100	8,000		1,042	700
BTA	31-Oct	30-Apr	6,100	8,000*		1,042
BTZ	31-Oct	N/A	6,100		±	1,042		±
BWC	31-Oct	N/A	6,100	8,000		1,042	1,000

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			Tax Fees		All Other Fees
				Fiscal Year Prior to Most Recent Fiscal Year End ($)		Fiscal Year Prior to Most Recent Fiscal Year End ($)
	Pre-Amended	Post-Amended
	Fiscal Year End	Fiscal Year End	Most Recent Fiscal Year ($)		Most Recent Fiscal Year ($)
Fund
BYM	31-Aug	N/A	6,100	8,000	1,042	2,700
BZA	31-Aug	N/A	6,100	8,000	1,042	400
BZM	31-Aug	N/A	6,100	8,000	1,042	200
HIS	31-Dec	31-Aug	6,100	8,000	1,042	1,100
MUA	31-May	30-Apr	6,100	6,000	1,049
RAA	31-Oct	31-Jul	6,100	8,000	1,042	100
RFA	31-Oct	31-Jul	6,100	8,000	1,042	100
RNJ	31-Oct	31-Jul	6,100	8,000	1,042	100
RNY	31-Oct	31-Jul	6,100	8,000	1,042	100

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Fees for non-audit services provided to the Funds Affiliated Service Providers for which pre-approval by the Audit Committee was required:

Fund	Pre- Amended Fiscal Year End	Post- Amended Fiscal Year End	Audit-Related Fees ($) — Most Recent Fiscal Year ($)	Fiscal Year Prior to Most Recent Fiscal Year End ($)		Tax Fees — Most Recent Fiscal Year ($)	Fiscal Year Prior to Most Recent Fiscal Year End ($)	All Other Fees ($) — Most Recent Fiscal Year ($)	Fiscal Year Prior to Most Recent Fiscal Year End ($)
APX	30-Jun	30-Apr	1,735,000	1,227,000
BAF	31-Aug	N/A	284,500	286,200
BBF	31-Oct	31-Jul	284,500	286,200
BBK	31-Aug	N/A	284,500	286,200
BCF	31-Oct	N/A	284,500	286,200
BCK	31-Aug	N/A	284,500	286,200
BCL	31-Aug	N/A	284,500	286,200
BCT	31-Oct	N/A	284,500	286,200
BDJ	31-Oct	N/A	284,500	286,200
BDT	31-Oct	N/A	284,500	286,200
BDV	31-Oct	N/A	284,500	286,200
BFC	31-Dec	N/A	284,500	286,200
BFD	31-Oct	N/A	284,500	N/A	±
BFK	31-Oct	30-Apr	284,500	286,200
BFO	31-Dec	31-Jul	284,500	286,200
BFY	31-Aug	N/A	284,500	286,200
BFZ	31-Oct	31-Jul	284,500	286,200
BGR	31-Oct	N/A	284,500	286,200
BGT	31-Dec	31-Oct	284,500	286,200
BGY	31-Oct	N/A	284,500	N/A	±
BHD	31-Oct	31-Aug	284,500	286,200
BHK	31-Oct	31-Aug	284,500	286,200
BHL	31-Aug	N/A	N/A	N/A		N/A	N/A	N/A	N/A
BHV	31-Aug	N/A	284,500	286,200
BHY	31-Oct	31-Aug	284,500	286,200
BIE	31-Aug	N/A	284,500	286,200
BJZ	31-Dec	N/A	284,500	286,200
BKK	31-Dec	30-Apr	284,500	286,200
BKN	31-Oct	30-Apr	284,500	286,200
BKT	31-Oct	31-Aug	284,500	286,200
BLE	31-Aug	N/A	284,500	286,200
BLH	31-Dec	N/A	284,500	286,200
BLJ	31-Aug	N/A	284,500	286,200
BLN	31-Dec	N/A	284,500	286,200
BLW	31-Oct	31-Aug	284,500	286,200
BME	31-Oct	N/A	284,500	286,200
BMT	31-Dec	N/A	284,500	286,200
BNA	31-Oct	31-Aug	284,500	286,200
BNJ	31-Oct	31-Jul	284,500	286,200
BNY	31-Oct	31-Jul	284,500	286,200
BOE	31-Oct	N/A	284,500	286,200
BPK	31-Dec	N/A	284,500	286,200
BPP	31-Dec	31-Oct	284,500	286,200
BPS	31-Dec	30-Apr	284,500	286,200
BQH	31-Aug	N/A	284,500	286,200
BQR	31-Oct	N/A	284,500	N/A	±
BQY	31-Oct	N/A	284,500	286,200
BRF	31-Dec	N/A	284,500	286,200
BRM	31-Dec	N/A	284,500	286,200

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Fund	Pre- Amended Fiscal Year End	Post- Amended Fiscal Year End	Audit-Related Fees ($) — Most Recent Fiscal Year ($)	Fiscal Year Prior to Most Recent Fiscal Year End ($)
BSD	31-Dec	30-Apr	284,500	286,200
BSE	31-Aug	N/A	284,500	286,200
BTA	31-Oct	30-Apr	284,500	286,200
BTZ	31-Oct	N/A	284,500	N/A	±
BWC	31-Oct	N/A	284,500	286,200
BYM	31-Aug	N/A	284,500	286,200
BZA	31-Aug	N/A	284,500	286,200
BZM	31-Aug	N/A	284,500	286,200
HIS	31-Dec	31-Aug	284,500	286,200
MUA	31-May	30-Apr	284,500	1,739,500
RAA	31-Oct	31-Jul	284,500	286,200
RFA	31-Oct	31-Jul	284,500	286,200
RNJ	31-Oct	31-Jul	284,500	286,200
RNY	31-Oct	31-Jul	284,500	286,200

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Aggregate non-audit fees for services provided to the Fund, its investment adviser, and its Affiliated Service Providers, regardless of whether pre-approval was required:

Fund	Pre-Amended Fiscal Year End	Post-Amended Fiscal Year End	Aggregate non-audit fees($) — Most Recent Fiscal Year ($)	Fiscal Year Prior to Most Recent Fiscal Year End ($)
APX	30-Jun	30-Apr	2,647,750	2,815,800
BAF	31-Aug	N/A	293,617	297,300
BBF	31-Oct	31-Jul	293,617	296,875
BBK	31-Aug	N/A	293,617	296,700
BCF	31-Oct	N/A	291,642	294,500
BCK	31-Aug	N/A	293,617	296,700
BCL	31-Aug	N/A	293,617	297,000
BCT	31-Oct	N/A	291,642	294,500
BDJ	31-Oct	N/A	291,642	295,600
BDT	31-Oct	N/A	291,642	295,800
BDV	31-Oct	N/A	291,642	299,500
BFC	31-Dec	N/A	293,617	297,475
BFD	31-Oct	N/A	291,642	N/A	±
BFK	31-Oct	30-Apr	293,617	300,500
BFO	31-Dec	31-Jul	293,617	296,775
BFY	31-Aug	N/A	293,617	296,700
BFZ	31-Oct	31-Jul	293,617	297,700
BGR	31-Oct	N/A	291,642	299,200
BGT	31-Dec	31-Oct	293,617	299,575
BGY	31-Oct	N/A	290,600	N/A	±
BHD	31-Oct	31-Aug	291,642	294,900
BHK	31-Oct	31-Aug	291,642	296,800
BHL	31-Aug	N/A	N/A	N/A
BHV	31-Aug	N/A	293,617	296,400
BHY	31-Oct	31-Aug	296,642	299,500
BIE	31-Aug	N/A	293,617	296,600
BJZ	31-Dec	N/A	293,617	296,875
BKK	31-Dec	30-Apr	293,617	298,475
BKN	31-Oct	30-Apr	293,617	298,000
BKT	31-Oct	31-Aug	291,642	297,100
BLE	31-Aug	N/A	293,617	298,600
BLH	31-Dec	N/A	293,617	296,575
BLJ	31-Aug	N/A	293,617	296,500
BLN	31-Dec	N/A	293,617	297,575
BLW	31-Oct	31-Aug	291,642	298,900
BME	31-Oct	N/A	291,642	295,400
BMT	31-Dec	N/A	293,617	298,275
BNA	31-Oct	31-Aug	291,642	296,900
BNJ	31-Oct	31-Jul	293,617	297,000
BNY	31-Oct	31-Jul	293,617	297,500
BOE	31-Oct	N/A	291,642	294,600
BPK	31-Dec	N/A	293,617	298,075
BPP	31-Dec	31-Oct	293,617	299,675
BPS	31-Dec	30-Apr	293,617	296,375
BQH	31-Aug	N/A	293,617	296,500
BQR	31-Oct	N/A	291,642	N/A	±
BQY	31-Oct	N/A	291,642	294,800
BRF	31-Dec	N/A	293,617	297,175
BRM	31-Dec	N/A	293,617	299,475
BSD	31-Dec	30-Apr	293,617	297,075
BSE	31-Aug	N/A	293,617	296,900
BTA	31-Oct	30-Apr	291,642	299,200
BTZ	31-Oct	N/A	291,642	N/A	±

H-7

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Fund	Pre-Amended Fiscal Year End	Post-Amended Fiscal Year End	Aggregate non-audit fees($) — Most Recent Fiscal Year ($)	Fiscal Year Prior to Most Recent Fiscal Year End ($)
BWC	31-Oct	N/A	291,642	295,200
BYM	31-Aug	N/A	293,617	298,900
BZA	31-Aug	N/A	293,617	296,600
BZM	31-Aug	N/A	293,617	296,400
HIS	31-Dec	31-Aug	296,642	300,300
MUA	31-May	30-Apr	288,549	2,985,417
RAA	31-Oct	31-Jul	293,617	296,300
RFA	31-Oct	31-Jul	293,617	294,300
RNJ	31-Oct	31-Jul	293,617	296,300
RNY	31-Oct	31-Jul	293,617	296,300

H-8

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Appendix I

5% Share Ownership

As of May 31, 2008, to the best knowledge of each Fund, the following persons beneficially owned or owned of record 5% or more of the outstanding shares of the class of the Funds indicated:

Fund	Investor	Address	Shares Held	% Held
BCK	First Trust Portfolios L.P.*	1001 Warrenville Road	412,984	7.82%
		Lisle, Illinois 60532
BCL	First Trust Portfolios L.P.*	1001 Warrenville Road	627,649	7.85%
		Lisle, Illinois 60532
BCT	Karpus Management, Inc.*	183 Sullys Trail	149,225	5.05%
		Pittsford, New York 14534
BDT	First Trust Portfolios L.P.*	1001 Warrenville Road	2,767,754	10.29%
		Lisle, Illinois 60532
BDV	First Trust Portfolios L.P.*	1001 Warrenville Road	3,001,190	5.50%
		Lisle, Illinois 60532
BFZ	First Trust Portfolios L.P.*	1001 Warrenville Road	910,783	6.02%
		Lisle, Illinois 60532
BHK	First Trust Portfolios L.P.*	1001 Warrenville Road	2,889,284	10.69%
		Lisle, Illinois 60532
BKN	Sakharam D. Mahurkar Trust	2768 Palm Springs Lane	1,491,731	8.82%
		Aurora, Illinois 60502
BLN	Karpus Management, Inc.*	183 Sullys Trail	1,411,559	12.54%
		Pittsford, New York 14534
BMT	Karpus Management, Inc.*	183 Sullys Trail	2,775,129	10.72%
		Pittsford, New York 14534
BNA	First Trust Portfolios L.P.*	1001 Warrenville Road	2,819,473	8.18%
		Lisle, Illinois 60532
BQY	First Trust Portfolios L.P.*	1001 Warrenville Road	347,800	5.76%
		Lisle, Illinois 60532
BRF	Karpus Management, Inc.*	183 Sullys Trail	1,218,315	13.99%
		Pittsford, New York 14534
BRM	Karpus Management, Inc.*	183 Sullys Trail	1,541,728	5.67%
		Pittsford, New York 14534
BZA	First Trust Portfolios L.P.*	1001 Warrenville Road	204,484	6.00%
		Lisle, Illinois 60532
HIS	First Trust Portfolios L.P.*	1001 Warrenville Road	4,701,066	8.61%
		Lisle, Illinois 60532
RAA	M.H. Whittier Corp.	1600 Huntington Drive	266,100	26.42%
	James E. Greene, Arlo G. Sorensen,	South Pasadena, California 91030
	Michael J. Casey and Whittier Trust Co.
	(Jointly Held)
RFA	Karpus Management, Inc.*	183 Sullys Trail	58,987	5.23%
		Pittsford, New York 14534

Indicates record holders that do not beneficially hold the shares.

I-1

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Appendix J

Section 16 Filings
Late Forms Relating
to the Funds Most Recently Concluded Fiscal Year*

Fund	Filing Person	Number of Late Reports and Number of Related Transactions
APX	Walter OConnor	One Form 3
	Frank J. Fabozzi	One Form 4, relating to one transaction
BCK	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
RAA	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BJZ	F. Howard Downs	One Form 3
	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BZA	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BFZ	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BCL	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BHK	James Keenan	One Form 3
	Kevin Booth	One Form 3
BDV	David Byrket	One Form 3
	Fred Herrmann	One Form 3
BQR	Poppy Allonby	One Form 3
	Richard S. Davis	One Form 3
	Robin Batchelor	One Form 3
BAF	Robert Sneeden	One Form 3
	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
RFA	Robert Sneeden	One Form 3
	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BFO	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BIE	Robert Sneeden	One Form 3
	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BBF	Robert Sneeden	One Form 3
	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BGT	James Keenan	One Form 3
	Jeff Gary	One Form 3
	Kevin Booth	One Form 3
HIS	James Keenan	One Form 3
	Kevin Booth	One Form 3
BHY	James Keenan	One Form 3
	Jeff Gary	One Form 3
	Kevin Booth	One Form 3
	Scott Amero	One Form 3
BNA	James Keenan	One Form 3
	Kevin Booth	One Form 3

J-1

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Fund	Filing Person	Number of Late Reports and Number of Related Transactions
BYM	Michael Kalinoski	One Form 3
	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BKN	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BLW	James Keenan	One Form 3
	Jeff Gary	One Form 3
	Kevin Booth	One Form 3
	Mark J. Williams	One Form 3
	Scott Amero	One Form 4, relating to five transactions,
		and one Form 3
BTA	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BZM	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
MUA	Walter OConnor	One Form 3
	Peter Hayes	One Form 4, relating to seven transactions
	Frank J. Fabozzi	One Form 4, relating to one transaction
BPK	F. Howard Downs	One Form 3
	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BKK	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BBK	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BFJ	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BLE	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
	Walter OConnor	One Form 3
RNJ	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BLJ	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BNJ	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BSE	Theodore R. Jaeckel, Jr.	One Form 3
	Timothy T. Browse	One Form 3
	Walter OConnor	One Form 3
RNY	Theodore R. Jaeckel, Jr.	One Form 3
	Timothy T. Browse	One Form 3
	Walter OConnor	One Form 3
BLH	F. Howard Downs	One Form 3
	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BQH	Theodore R. Jaeckel, Jr.	One Form 3
	Timothy T. Browse	One Form 3
	Walter OConnor	One Form 3
BNY	Theodore R. Jaeckel, Jr.	One Form 3
	Timothy T. Browse	One Form 3
	Walter OConnor	One Form 3

J-2

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Fund	Filing Person	Number of Late Reports and Number of Related Transactions
BFY	Theodore R. Jaeckel, Jr.	One Form 3
	Timothy T. Browse	One Form 3
	Walter OConnor	One Form 3
BTZ	Daniel I. Chen	One Form 4, relating to two transactions
BPP	John D. Burger	One Form 3
	Scott Amero	One Form 4, relating to one transaction,
		and one Form 3
BHD	James Keenan	One Form 3
	Kevin Booth	One Form 3
	Mark J. Williams	One Form 3
BHV	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BWC	Jean M. Rosenbaum	One Form 4, relating to one transaction
	Michael D. Carey	One Form 4, relating to one transaction
BFC	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BRF	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BRM	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BMT	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BLN	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
BPS	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3
	William R. Bock	One Form 3
BSD	Theodore R. Jaeckel, Jr.	One Form 3
	Walter OConnor	One Form 3

Funds with a fiscal year end of June 30 or earlier.

J-3

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Appendix K

Additional Section 16 Information

Late Forms Relating to the Period Between the Close of the Funds Most Recently Concluded Fiscal Year and the Date of this Proxy Statement*

Fund	Filing Person	Number of Late Reports and Number of Related Transactions
BCTS	Daniel I. Chen	One Form 3
	Stuart Spodek	One Form 3
BHL	Frank J. Fabozzi	One Form 4, relating to one transaction
BQR	Kyle McClements	One Form 4, relating to one transaction
BDJ	W. Carl Kester	One Form 4, relating to one transaction
BGR	W. Carl Kester	One Form 4, relating to one transaction
BGT	W. Carl Kester	One Form 4, relating to one transaction
BHY	Scott Amero	One Form 4, relating to ten transactions
BGY	W. Carl Kester	One Form 4, relating to one transaction
BKN	Timothy T. Browse	One Form 3
BLW	W. Carl Kester	One Form 4, relating to one transaction
BQM	Phillip Soccio	One Form 3
BBK	Timothy T. Browse	One Form 3
RNJ	Fred Stuebe	One Form 3
BLJ	Fred Stuebe	One Form 3
BNJ	Fred Stuebe	One Form 3
BTZ	W. Carl Kester	One Form 4, relating to one transaction
BCF	Richard Davis	One Form 3
BHV	Phillip Soccio	One Form 3

Funds with a fiscal year end after June 30.

K-1

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Important Notice Regarding the Availability of Proxy Materials for the Annual Shareholder Meeting to Be Held on September 12, 2008

BlackRock Closed-End Funds

Registration Here (For formatting: top of this box should be at lateral marker 2)

The control number below will allow you to access proxy information for all investments connected with this Meeting.

YOUR PROXY CONTROL NUMBER

123456789XXX

Dear Shareholder, August 1, 2008

This communication presents only an overview of the more complete proxy materials that are available to you on the Internet and by other means described below. We encourage you to access and review all of the important information contained in the proxy materials before voting. The proxy materials available to you include a proxy statement and a proxy card.

A proxy statement is available at www.proxyonline.com.

If you want to receive a paper or e-mail copy of these documents, you must request one. There is no charge to you for requesting a copy. Please make your request for a copy as instructed below on or before September 4th to facilitate timely delivery.

The Annual Meeting of Shareholders on September 12, 2008 at 12:30 p.m. Eastern Time will be held at the offices of BlackRock Advisors, LLC, Park Avenue Plaza, 55 East 52 nd Street, 11 th Floor, New York, New York 10055. That Meeting will be held for the following purposes:

To elect Nominees to each Funds Board of Trustees / Directors; and
To transact such other business as may properly come before the Meeting or any adjournment thereof.

The Board of Trustees / Directors recommends a vote FOR all Nominees.

You may attend the Meeting and vote your shares at that time. If you cannot attend or do not wish to attend the Meeting, please obtain proxy materials via one of the methods listed below and cast your vote promptly so that your shares may be represented.

Thank you in advance for your participation.

Sincerely, Howard Surloff Secretary of the Funds

Please address any correspondence regarding this matter to: BlackRock Closed-End Funds, P.O. Box 238, Lyndhurst, NJ 07021-9902

All proxy materials including the proxy statement can be obtained using one of the methods listed below.

INTERNET Log-on to the secure voting site www.proxyonline.com using the control number listed above. There you may review the proxy materials, request a hard copy of the materials and/or enter your voting instructions. There you may also indicate your instructions to receive all future proxy materials from this issuer via mail or e-mail. E-MAIL To request a copy of the proxy materials send an e-mail with your control number in the subject line to: [email protected] (To receive hard copies via the mail) or [email protected] (To receive electronic copies via e-mail). To elect either method above for all future proxy materials from this issuer please type Permanent Request in the body of the e-mail. PHONE Call toll-free 1-800-820-2412 and reference the control number listed above to request a copy of the proxy materials. Proxy representatives will be ready to assist you Monday through Friday 9 a.m. to 10 p.m. Eastern Time.

SHAREHOLDER PRIVACY: Please note that no personal information other than the control number listed above is required to request proxy materials and/or issue your proxy voting instructions.

If you have any questions about obtaining proxy materials, please contact us at the number above.

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BLACKROCK CLOSED-END FUNDS

* IMPORTANT NOTICE *

Regarding the Availability of Proxy Materials

You are receiving this communication because you hold shares in one of the BlackRock closed-end funds, and the materials you should review before you cast your vote are now available.

This communication presents only an overview of the more complete proxy materials that are available to you on the Internet. We encourage you to access and review all of the important information contained in the proxy materials before voting.

Shareholder Meeting to be held on 9/12/08

Proxy Materials Available

Proxy Statement & Proxy Card

PROXY MATERIALS - VIEW OR RECEIVE You can choose to view the materials online or receive a paper or e-mail copy. There is NO charge for requesting a copy. Requests, instructions and other inquiries will NOT be forwarded to your investment advisor. To facilitate timely delivery please make the request as instructed below on or before 9/2/08.

HOW TO VIEW MATERIALS VIA THE INTERNET Have the 12 Digit Control Number(s) available and visit: www.proxyvote.com

HOW TO REQUEST A COPY OF MATERIALS 1) BY INTERNET - www.proxyvote.com 2) BY TELEPHONE - 1-800-579-1639 3) BY E-MAIL - [email protected] If requesting materials by e-mail, please send a blank e-mail with the 12 Digit Control Number (located on the following page) in the subject line.

See the Reverse Side for Meeting Information and Instructions on How to Vote

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Meeting Information

Meeting Type:	Annual
Meeting Date:	9/12/08
Meeting Time:	12:30 p.m.
For holders as of:	7/14/08

Meeting Location: BlackRock Advisors, LLC 11 th Floor Park Avenue Plaza 55 East 52 nd Street New York, NY 10055

How To Vote

Vote In Person Many shareholder meetings have attendance requirements including, but not limited to, the possession of an attendance ticket issued by the entity holding the meeting. Please check the meeting materials for any special requirements for meeting attendance.

Vote By Internet To vote now by Internet, go to WWW.PROXYVOTE.COM. Please refer to the proposals and follow the instructions.

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Voting items

The Board Members responsible for your fund recommend that you vote "For" the proposal. 1. TO ELECT BOARD MEMBER NOMINEES 01) G. Nicholas Beckwith, III 02) Kent Dixon 03) R. Glenn Hubbard 04) Robert S. Salomon, Jr.

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Voting items

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Voting items

The Board of Trustees recommends that you vote "For" the proposal. 1. TO ELECT BOARD MEMBER NOMINEES 01) G. Nicholas Beckwith, III 02) Kent Dixon 03) R. Glenn Hubbard 04) W. Carl Kester 05) Robert S. Salomon, Jr. 06) James T. Flynn 07) Karen P. Robards 08) Richard E. Cavanagh 09) Henry Gabbay 10) Jerrold B. Harris

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Voting items

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Voting items

The Board of Trustees recommends that you vote "For" the proposal. 1. TO ELECT BOARD MEMBER NOMINEES 01) G. Nicholas Beckwith, III 02) Kent Dixon 03) R. Glenn Hubbard 04) Robert S. Salomon, Jr.

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Voting Instructions

*********** MARKER PAGE="sheet: 2; page: 2"

●
(appropriate share class name listed here)
Proxy Ballot for Annual Meeting of Shareholders September 12, 2008

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned hereby appoints Anne Ackerley, Donald Burke and Jay Fife, and each of them, as proxies, each with the power to appoint his or her substitute, and hereby authorizes them to represent and to vote, as designated on the reverse side hereof, all of the shares of the above named fund held of record by the undersigned on July 14, 2008 at the Annual Meeting of Shareholders of the Fund to be held on September 12, 2008 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED
IN THE MANNER DIRECTED HEREIN BY THE UNDERSIGNED
SHAREHOLDER. IF NO DIRECTION IS MADE, THIS PROXY
WILL BE VOTED FOR THE PROPOSAL.
IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO
VOTE UPON SUCH OTHER BUSINESS AS MAY PROPERLY
BE PRESENTED TO THE MEETING OR ANY ADJOURNMENTS
OR POSTPONEMENTS THEREOF.

PLEASE FOLD HERE AND RETURN ENTIRE BALLOT DO NOT DETACH

(FUND NAME HERE)

Proxy Ballot for Annual Meeting of Shareholders September 12, 2008

Vote by Phone, by Mail or via the Internet!		Please be sure to sign and date this proxy. Please sign exactly as
		your name appears on this proxy. When shares are held by joint
CALL:	To vote your proxy by phone, call	tenants, both should sign. When signing as attorney, executor,
	1-866-437-4675 and enter the 12-digit	administrator, trustee, or guardian, please give full title as such. If
	control number found on the reverse	a corporation, please sign in full corporate name by president or
	side of this Proxy Ballot. This touch-	other authorized officer. If a partnership, please sign in
	tone voting line is available 24 hours a	partnership name by authorized person.
	day, seven days a week.
		Please mark your vote on the reverse of this Proxy Ballot.
LOG-ON:	To vote on the Internet go to
	www.proxyonline.com and enter the
	12-digit control number found on the
	reverse side of this Proxy Ballot.	Shareholder sign here
MAIL:	To vote your proxy by mail, check the
	appropriate voting box on the reverse
	side of this Proxy Ballot, sign and	Joint owner sign here
	date the ballot and return it in the
	enclosed postage-paid envelope or
	mail to: The Altman Group, P.O. Box
	238, Lyndhurst, NJ 07071.	Date:

IT IS IMPORTANT THAT PROXIES BE VOTED PROMPTLY. EVERY SHAREHOLDERS VOTE IS IMPORTANT.

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(FUND NAME HERE)

CONTROL NUMBER

WE NEED YOUR PROXY VOTE AS SOON AS POSSIBLE. YOUR PROMPT ATTENTION TO THIS MATTER WILL HELP TO AVOID THE EXPENSE OF FURTHER SOLICITATION.

THE PROXY BALLOT MUST BE SIGNED AND DATED ON THE REVERSE SIDE FOR YOUR INSTRUCTIONS TO BE COUNTED AND WILL BE VOTED IN THE MANNER INDICATED, OR IF NO INSTRUCTION HAS BEEN INDICATED BELOW, A VOTE WILL BE CAST FOR EACH NOMINEE. PLEASE COMPLETE AND RETURN THIS PROXY BALLOT PROMPTLY.

PLEASE MARK THE BOXES BELOW IN BLUE OR BLACK INK.

To vote the proxy for all nominees in the same manner , please use the boxes below.	FOR ALL	ABSTAIN ALL
	\|_\|	\|_\|
To vote for each nominee individually , please use these boxes.
1. TO ELECT BOARD MEMBER NOMINEES	FOR	ABSTAIN
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|

(BARCODE HERE) (TAGID HERE) (CUSIP HERE)

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●
(appropriate share class name listed here)
Proxy Ballot for Annual Meeting of Shareholders September 12, 2008

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED
IN THE MANNER DIRECTED HEREIN BY THE UNDERSIGNED
SHAREHOLDER. IF NO DIRECTION IS MADE, THIS PROXY
WILL BE VOTED FOR THE PROPOSAL.
IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO
VOTE UPON SUCH OTHER BUSINESS AS MAY PROPERLY
BE PRESENTED TO THE MEETING OR ANY ADJOURNMENTS
OR POSTPONEMENTS THEREOF.

PLEASE FOLD HERE AND RETURN ENTIRE BALLOT DO NOT DETACH

(FUND NAME HERE)

Proxy Ballot for Annual Meeting of Shareholders September 12, 2008

Vote by Phone, by Mail or via the Internet!		Please be sure to sign and date this proxy. Please sign exactly as
		your name appears on this proxy. When shares are held by joint
CALL:	To vote your proxy by phone, call	tenants, both should sign. When signing as attorney, executor,
	1-866-437-4675 and enter the 12-digit	administrator, trustee, or guardian, please give full title as such. If
	control number found on the reverse	a corporation, please sign in full corporate name by president or
	side of this Proxy Ballot. This touch-	other authorized officer. If a partnership, please sign in
	tone voting line is available 24 hours a	partnership name by authorized person.
	day, seven days a week.
		Please mark your vote on the reverse of this Proxy Ballot.
LOG-ON:	To vote on the Internet go to
	www.proxyonline.com and enter the
	12-digit control number found on the
	reverse side of this Proxy Ballot.	Shareholder sign here
MAIL:	To vote your proxy by mail, check the
	appropriate voting box on the reverse
	side of this Proxy Ballot, sign and	Joint owner sign here
	date the ballot and return it in the
	enclosed postage-paid envelope or
	mail to: The Altman Group, P.O. Box
	238, Lyndhurst, NJ 07071.	Date:

IT IS IMPORTANT THAT PROXIES BE VOTED PROMPTLY. EVERY SHAREHOLDERS VOTE IS IMPORTANT.

MARKER PAGE="sheet: 1; page: 1"

(FUND NAME HERE)

CONTROL NUMBER

WE NEED YOUR PROXY VOTE AS SOON AS POSSIBLE. YOUR PROMPT ATTENTION TO THIS MATTER WILL HELP TO AVOID THE EXPENSE OF FURTHER SOLICITATION.

PLEASE MARK THE BOXES BELOW IN BLUE OR BLACK INK.

To vote the proxy for all nominees in the same manner , please use the boxes below.	FOR ALL	ABSTAIN ALL
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To vote for each nominee individually , please use these boxes.
1. TO ELECT BOARD MEMBER NOMINEES	FOR	ABSTAIN
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|
(Nominee name here)	\|_\|	\|_\|

(BARCODE HERE) (TAGID HERE) (CUSIP HERE)

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