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BLACKROCK INCOME TRUST, INC.

Regulatory Filings • Mar 31, 2008

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N-Q 1 c52580_nq.htm

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-08991

Name of Fund: BlackRock Income Trust, Inc. (BKT)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Income Trust, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 10/31/2008 Date of reporting period: 11/01/2007 – 01/31/2008

Item 1 – Schedule of Investments

BlackRock Income Trust, Inc. — Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
Face
Amount Asset-Backed Securities++ Value
$ 5,890,000 First Franklin Mortgage Loan Asset Backed Certificates Series 2005-FF2 Class M2,
3.575% due 3/25/2035 (a) $ 4,888,700
4,157,296 GSAA Home Equity Trust Series 2005-1 Class AF2, 4.316%
due 11/25/2034 (a) 4,053,969
324,667 Overseas Private Investment Corp., 4.09% due 5/29/2012 318,983
909,522 Overseas Private Investment Corp., 4.30% due 5/29/2012 (a) 936,545
683,199 Overseas Private Investment Corp., 4.64% due 5/29/2012 713,034
386 ,245 Overseas Private Investment Corp., 4.68% due 5/29/2012 382,004
2,927,867 Overseas Private Investment Corp., 4.87% due 5/29/2012 3,083,780
349,534 Overseas Private Investment Corp., 5.40% due 5/29/2012 (a) 354,645
13,000,000 Resolution Funding Corp., 9.66% due 4/15/2030 (b) 4,652,778
1,875,000 Securitized Asset Backed Receivables LLC Trust Series 2005-OP2 Class M1, 3.565%
due 10/25/2035 (a) 1,687,500
528,928 Small Business Administration Participation Certificates
Series 1996-20E Class
1, 7.60% due 5/01/2016 556,412
717,889 Small Business Administration Participation Certificates
Series 1996-20F Class
1, 7.55% due 6/01/2016 755,483
518,287 Small Business Administration Participation Certificates
Series 1996-20G Class
1, 7.70% due 7/01/2016 546,836
833,077 Small Business Administration Participation Certificates
Series 1996-20H Class
1, 7.25% due 8/01/2016 873,012
1,338,406 Small Business Administration Participation Certificates
Series 1996-20K Class
1, 6.95% due 11/01/2016 1,401,145
612,040 Small Business Administration Participation Certificates
Series 1997-20C Class
1, 7.15% due 3/01/2017 642,681
6,378,954 Small Business Administration Series 1, 1% due 4/01/2015 63,790
9,946,419 Sterling Bank Trust Series 2004-2 Class Note, 2.081% due 3/30/2030 248,660
15,749,969 Sterling Coofs Trust Series 1, 2.362% due 4/15/2029 679,217
Total Asset-Backed Securities (Cost - $27,802,167) - 6.5% 26,839,174
U.S. Government & Agency Obligations
355,435 Federal Housing Administration, General Motors Acceptance Corp. Projects, Series 56,
7.43% due 11/01/2022 362,543
49,524 Federal Housing Administration, Merrill Projects, Series 54,
7.43% due 2/01/2023 50,514
750,425 Federal Housing Administration, Reilly Project, Series 41,
8.28% due 3/01/2020 765,433
87,382 Federal Housing Administration, USGI Projects, Series 87,
7.43% due 12/01/2022 89,130
5,411,984 Federal Housing Administration, USGI Projects, Series 99,
7.43% due 6/01/2021 5,520,224
82,687 Federal Housing Administration, USGI Projects, Series 99,
7.43% due 10/01/2023 84,341
244,665 Federal Housing Administration, USGI Projects, Series 99,
7.43% due 10/01/2023 249,559
15,000,000 U.S. Treasury Notes, 4.75% due 5/31/2012 16,245,705
60,000,000 U.S. Treasury STRIPS (g), 5.64% due 11/15/2024 (b) 28,191,180
Total U.S. Government & Agency Obligations
(Cost - $46,303,983) - 12.5% 51,558,629
U.S. Government Agency Mortgage-Backed Securities++
Fannie Mae Guaranteed Pass-Through Certificates:
70,507,583 5.00% due 6/01/2033 - 3/15/2038 (d) 70,172,582
58,957,740 5.50% due 6/01/2021 - 2/15/2038 (d) 60,004,315
3,125,000 5.97% due 8/01/2016 3,363,183
22,792,648 6.00% due 10/01/2036 - 7/01/2037 23,391,976
39,644,280 6.50% due 5/01/2031 - 3/15/2038 (d) 41,108,314
222 7.50% due 2/01/2022 240
21,981 8.00% due 5/01/2008 - 5/01/2022 22,673

1

BlackRock Income Trust, Inc. — Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
Face
Amount U.S. Government Agency Mortgage-Backed Securities++ Value
$ 3,740 9.50% due 1/01/2019 - 9/01/2019 $ 4,174
Freddie Mac Mortgage Participation Certificates:
797,873 4.934% due 10/01/2034 (a) 818,571
8,787,100 5.50% due 12/01/2021 - 3/01/2022 8,994,189
26,434 6.01% due 11/01/2017 (a) 26,673
537,335 6.09% due 1/01/2035 (a) 540,942
100,000 6.50% due 2/15/2038 103,875
11,170 8.00% due 11/01/2015 11,487
118,520 9.00% due 9/01/2020 129,728
Ginnie Mae MBS Certificates:
35,797 7.00% due 10/15/2017 38,140
400,618 7.50% due 8/15/2021 - 12/15/2023 432,266
193,228 8.00% due 10/15/2022 - 2/15/2029 212,178
15,709 9.00% due 6/15/2018 - 9/15/2021 17,259
Total U.S. Government Agency Mortgage-Backed Securities
(Cost - $207,330,018) - 50.6% 209,392,765
U.S. Government Agency Mortgage-Backed Obligations - Collateralized Mortgage
Obligations
10,308 Fannie Mae Trust Series 7 Class 2, 8.50% due 4/01/2017 2,224
20,165 Fannie Mae Trust Series 89 Class 2, 8% due 10/01/2018 4,631
6,306 Fannie Mae Trust Series 94 Class 2, 9.50% due 8/01/2021 1,665
42,525 Fannie Mae Trust Series 203 Class 1, 0% due 2/01/2023 (e) 36,398
29,657 Fannie Mae Trust Series 228 Class 1, 0% due 6/01/2023 (e) 25,152
229,620 Fannie Mae Trust Series 273 Class 1, 0% due 8/01/2026 (e) 193,167
4,378,853 Fannie Mae Trust Series 328 Class 1, 0% due 12/01/2032 (e) 3,621,773
3,560,224 Fannie Mae Trust Series 338 Class 1, 0% due 7/01/2033 (e) 2,856,586
40,597 Fannie Mae Trust Series 1990-123 Class M, 1.01% due 10/25/2020 858
24,878,333 Fannie Mae Trust Series 1990-136 Class S, 0.015% due 11/25/2020 (a) 33,590
39,473 Fannie Mae Trust Series 1991-7 Class J, 0% due 2/25/2021 (e) 32,256
46,362 Fannie Mae Trust Series 1991-38 Class F, 8.325% due 4/25/2021 (a) 48,503
37,029 Fannie Mae Trust Series 1991-38 Class N, 1.009% due 4/25/2021 349
46,985 Fannie Mae Trust Series 1991-38 Class SA, 10.186% due 4/25/2021 (a) 48,748
178,974 Fannie Mae Trust Series 1991-46 Class S, 1.403% due 5/25/2021 (a) 6,293
114,152 Fannie Mae Trust Series 1991-87 Class S,18.375% due 8/25/2021 (a) 150,027
236,760 Fannie Mae Trust Series 1991-99 Class L, 0.93% due 8/25/2021 4,810
435,171 Fannie Mae Trust Series 1991-139 Class PT, 0.648% due 10/25/2021 5,609
44,509 Fannie Mae Trust Series 1991-167 Class D, 0% due 10/25/2017 (e) 43,603
2,754 Fannie Mae Trust Series 1993-51 Class E, 0% due 2/25/2023 (e) 2,511
23,964 Fannie Mae Trust Series 1993-70 Class A, 0% due 5/25/2023 (e) 20,234
83,174 Fannie Mae Trust Series 1993-72 Class S, 8.75% due 5/25/2008 (a) 83,393
22,307 Fannie Mae Trust Series 1993-93 Class S, 8.50% due 5/25/2008 (a) 22,414
6,128 Fannie Mae Trust Series 1993-170 Class SC, 9% due 9/25/2008 (a) 6,295
144,419 Fannie Mae Trust Series 1993-196 Class SC, 9.696% due 10/25/2008 (a) 145,808
2,155,289 Fannie Mae Trust Series 1993-199 Class SB, 2.625% due 10/25/2023 (a) 172,333
79,821 Fannie Mae Trust Series 1993-214 Class SH, 10.171% due 12/25/2008 (a) 81,286
866,230 Fannie Mae Trust Series 1993-247 Class SN, 10% due 12/25/2023 (a) 971,105
1,936,320 Fannie Mae Trust Series 1993-249 Class B, 0% due 11/25/2023 (e) 1,751,709
616,133 Fannie Mae Trust Series 1994-33 Class SG, 3.225% due 3/25/2009 (a) 13,590
1,850,915 Fannie Mae Trust Series 1996-68 Class SC, 2.257% due 1/25/2024 (a) 111,252
653,875 Fannie Mae Trust Series 1997-50 Class SI, 1.20% due 4/25/2023 (a) 20,772
13,029,418 Fannie Mae Trust Series 1997-90 Class M, 6% due 1/25/2028 2,508,721
608,927 Fannie Mae Trust Series 1999-W4 Class IO, 6.50% due 12/25/2028 113,118
332,853 Fannie Mae Trust Series 1999-W4 Class PO, 0% due 2/25/2029 (e) 261,881
883,253 Fannie Mae Trust Series 2002-13 Class PR, 0% due 3/25/2032 (e) 753,066
72,201 Fannie Mae Trust Series 2002-62 Class IC, 5.50% due 7/25/2015 486
3,860,218 Fannie Mae Trust Series 2003-9 Class BI, 5.50% due 10/25/2022 414,657
6,964,756 Fannie Mae Trust Series 2003-32 Class VT, 6% due 9/25/2015 7,216,743

2

BlackRock Income Trust, Inc. — Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
Face U.S. Government Agency Mortgage-Backed Obligations - Collateralized Mortgage
Amount Obligations Value
$ 2,637,939 Fannie Mae Trust Series 2003-51 Class IE, 5.50% due 4/25/2026 $ 38,482
5,079,645 Fannie Mae Trust Series 2003-55 Class GI, 5% due 7/25/2019 363,655
5,572,720 Fannie Mae Trust Series 2003-66 Class CI, 5% due 7/25/2033 1,119,318
3,652,438 Fannie Mae Trust Series 2003-88 Class TI, 4.50% due 11/25/2013 81,391
3,740,625 Fannie Mae Trust Series 2003-122 Class IC, 5% due 9/25/2018 291,630
12,264,000 Fannie Mae Trust Series 2003-135 Class PB, 6% due 1/25/2034 12,904,871
3,268,966 Fannie Mae Trust Series 2004-13 Class IG, 5% due 10/25/2022 66,121
3,650,779 Fannie Mae Trust Series 2004-28 Class PB, 6% due 8/25/2028 3,696,295
2,099,724 Fannie Mae Trust Series 2004-29 Class HC, 7.50% due 7/25/2030 2,276,987
2,426,222 Fannie Mae Trust Series 2004-31 Class ZG, 7.50% due 5/25/2034 2,920,107
28,947,168 Fannie Mae Trust Series 2004-90 Class JH, 1.828% due 11/25/2034 (a) 2,360,555
837,047 Fannie Mae Trust Series 2005-43 Class IC, 6% due 3/25/2034 184,729
12,194,882 Fannie Mae Trust Series 2005-55 Class SB, 1.278% due 7/25/2035 (a) 774,542
2,492,932 Fannie Mae Trust Series 2005-68 Class PC, 5.50% due 7/25/2035 2,583,437
5,661,899 Fannie Mae Trust Series 2005-73 Class DS, 9.399% due 8/25/2035 (a) 6,029,572
13,131,321 Fannie Mae Trust Series 2005-73 Class ST, 1.258% due 8/25/2035 (a) 757,239
1,221,014 Fannie Mae Trust Series 2006-2 Class KP, 0% due 2/25/2035 (a)(e) 1,169,436
48,889,084 Fannie Mae Trust Series 2006-36 Class SP, 1.828% due 5/25/2036 (a) 4,201,508
1,452,034 Fannie Mae Trust Series 2006-38 Class Z, 5% due 5/25/2036 1,417,309
28,510,808 Fannie Mae Trust Series 2006-95 Class ST, 1.735% due 10/25/2036 (a) 1,930,125
35,687,567 Fannie Mae Trust Series 2006-101 Class SA, 3.204% due 10/25/2036 (a) 2,302,519
317 Fannie Mae Trust Series G-7 Class S, 520.68% due 3/25/2021 (a) 5,465
998,074 Fannie Mae Trust Series G-10 Class S, 0.575% due 5/25/2021 (a) 16,281
839,011 Fannie Mae Trust Series G-12 Class S, 0.608% due 5/25/2021 (a) 14,737
535,884 Fannie Mae Trust Series G-17 Class S, 0.58% due 6/25/2021 (a) 8,885
662,640 Fannie Mae Trust Series G-33 Class PV, 1.078% due 10/25/2021 14,963
200 Fannie Mae Trust Series G-49 Class S, 706.55% due 12/25/2021 (a) 3,342
431,580 Fannie Mae Trust Series G-50 Class G, 1.159% due 12/25/2021 6,467
193,378 Fannie Mae Trust Series G92-5 Class H, 9% due 1/25/2022 46,348
508,081 Fannie Mae Trust Series G92-12 Class C, 1.017% due 2/25/2022 10,349
3,621,540 Fannie Mae Trust Series G92-59 Class S, 5.023% due 10/25/2022 (a) 567,901
554,140 Fannie Mae Trust Series G92-60 Class SB, 1.60% due 10/25/2022 (a) 24,699
295,995 Fannie Mae Trust Series G93-2 Class KB, 0% due 1/25/2023 (e) 266,800
178,825 Freddie Mac Multiclass Certificates Series 19 Class F,
8.50% due 3/15/2020 190,401
17,110 Freddie Mac Multiclass Certificates Series 19 Class R,
9.757% due 3/15/2020 2,852
715,410 Freddie Mac Multiclass Certificates Series 40 Class K, 6.50%
due 8/17/2024 756,005
1,422,948 Freddie Mac Multiclass Certificates Series 60 Class HS,
1.125% due 4/25/2024 (a) 11,162
4 Freddie Mac Multiclass Certificates Series 75 Class R, 9.50% due 1/15/2021 4
4 Freddie Mac Multiclass Certificates Series 75 Class RS,
18.058% due 1/15/2021 4
22,285 Freddie Mac Multiclass Certificates Series 173 Class R,
9% due 11/15/2021 22
22 Freddie Mac Multiclass Certificates Series 173 Class RS,
9.112% due 11/15/2021 23
48,890 Freddie Mac Multiclass Certificates Series 176 Class M,
1.01% due 7/15/2021 76
5,298 Freddie Mac Multiclass Certificates Series 192 Class U,
1.009% due 2/15/2022 (a) 9
2,170 Freddie Mac Multiclass Certificates Series 200 Class R,
98.523% due 12/15/2022 27

3

BlackRock Income Trust, Inc. — Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
Face U.S. Government Agency Mortgage-Backed Obligations - Collateralized Mortgage
Amount Obligations Value
$ 1,672,940 Freddie Mac Multiclass Certificates Series 204 Class IO,
6% due 5/01/2029 $ 310,641
14,043,550 Freddie Mac Multiclass Certificates Series 1043 Class H,
0.022% due 2/15/2021 (a) 17,175
150,990 Freddie Mac Multiclass Certificates Series 1054 Class I,
0.435% due 3/15/2021 (a) 179
115,800 Freddie Mac Multiclass Certificates Series 1056 Class KD,
1.085% due 3/15/2021 117
156,320 Freddie Mac Multiclass Certificates Series 1057 Class J,
1.008% due 3/15/2021 173
433,730 Freddie Mac Multiclass Certificates Series 1148 Class E,
0.593% due 10/15/2021 (a) 575
30,654 Freddie Mac Multiclass Certificates Series 1160 Class F,
26.897% due 10/15/2021 (a) 30,842
78,192 Freddie Mac Multiclass Certificates Series 1179 Class O,
1.009% due 11/15/2021 89
145,089 Freddie Mac Multiclass Certificates Series 1418 Class M,
0% due 11/15/2022 (e) 127,659
576,777 Freddie Mac Multiclass Certificates Series 1571 Class G,
0% due 8/15/2023 (e) 496,383
1,105,348 Freddie Mac Multiclass Certificates Series 1598 Class J,
6.50% due 10/15/2008 1,103,826
68,426 Freddie Mac Multiclass Certificates Series 1616 Class SB,
8.50% due 11/15/2008 (a) 68,918
63,285 Freddie Mac Multiclass Certificates Series 1688 Class S,
11.023% due 12/15/2013 (a) 63,282
1,967,767 Freddie Mac Multiclass Certificates Series 1691 Class B,
0% due 3/15/2024 (e) 1,575,771
143,883 Freddie Mac Multiclass Certificates Series 1706 Class IA,
7% due 10/15/2023 3,897
55,439 Freddie Mac Multiclass Certificates Series 1720 Class PK,
7.50% due 1/15/2024 2,307
173,300 Freddie Mac Multiclass Certificates Series 1739 Class B,
0% due 2/15/2024 (e) 161,987
2,556,043 Freddie Mac Multiclass Certificates Series 1914 Class PC,
0.75% due 12/15/2011 19,545
298,177 Freddie Mac Multiclass Certificates Series 1961 Class H,
6.50% due 5/15/2012 304,030
9,636,949 Freddie Mac Multiclass Certificates Series 2218 Class Z,
8.50% due 3/15/2030 10,593,420
691,902 Freddie Mac Multiclass Certificates Series 2296 Class SA,
2.139% due 3/15/2016 (a) 43,352
4,631,362 Freddie Mac Multiclass Certificates Series 2369 Class SU,
3.248% due 10/15/2031 (a) 391,153
12,489,711 Freddie Mac Multiclass Certificates Series 2431 Class Z,
6.50% due 6/15/2032 13,211,539
323,987 Freddie Mac Multiclass Certificates Series 2444 Class ST,
2.359% due 9/15/2029 (a) 10,621
1,367,540 Freddie Mac Multiclass Certificates Series 2542 Class MX,
5.50% due 5/15/2022 162,990
10,200,000 Freddie Mac Multiclass Certificates Series 2542 Class UC,
6% due 12/15/2022 11,037,719
2,482,073 Freddie Mac Multiclass Certificates Series 2545 Class NI,
5.50% due 3/15/2022 222,383
475,772 Freddie Mac Multiclass Certificates Series 2559 Class IO,
5% due 8/15/2030 (a) 1,039

4

BlackRock Income Trust, Inc. — Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
Face U.S. Government Agency Mortgage-Backed Obligations - Collateralized Mortgage
Amount Obligations Value
$ 3,907,097 Freddie Mac Multiclass Certificates Series 2561 Class EW,
5% due 9/15/2016 $ 280,953
2,475,000 Freddie Mac Multiclass Certificates Series 2562 Class PG,
5% due 1/15/2018 2,533,302
928,064 Freddie Mac Multiclass Certificates Series 2564 Class NC,
5% due 2/15/2033 888,704
10,295,542 Freddie Mac Multiclass Certificates Series 2611 Class QI,
5.50% due 9/15/2032 1,842,522
4,137,021 Freddie Mac Multiclass Certificates Series 2630 Class PI,
5% due 8/15/2028 320,415
550,992 Freddie Mac Multiclass Certificates Series 2633 Class PI,
4.50% due 3/15/2012 1,107
16,306,682 Freddie Mac Multiclass Certificates Series 2647 Class IV,
1.959% due 7/15/2033 (a) 1,766,769
3,053,024 Freddie Mac Multiclass Certificates Series 2653 Class MI,
5% due 4/15/2026 243,608
3,279,485 Freddie Mac Multiclass Certificates Series 2658 Class PI,
4.50% due 6/15/2013 57,245
2,738,899 Freddie Mac Multiclass Certificates Series 2672 Class TQ,
5% due 3/15/2023 52,927
3,633,340 Freddie Mac Multiclass Certificates Series 2687 Class IL,
5% due 9/15/2018 272,740
68,124 Freddie Mac Multiclass Certificates Series 2687 Class IQ,
5.50% due 9/15/2022 34
2,768,049 Freddie Mac Multiclass Certificates Series 2693 Class IB,
4.50% due 6/15/2013 46,440
2,310,048 Freddie Mac Multiclass Certificates Series 2694 Class LI,
4.50% due 7/15/2019 147,392
2,050,000 Freddie Mac Multiclass Certificates Series 2750 Class TC,
5.25% due 2/15/2034 2,102,696
11,340,216 Freddie Mac Multiclass Certificates Series 2758 Class KV,
5.50% due 5/15/2023 11,754,896
1,572,756 Freddie Mac Multiclass Certificates Series 2765 Class UA,
4% due 3/15/2011 1,601,390
4,358,648 Freddie Mac Multiclass Certificates Series 2769 Class SQ,
5.368% due 2/15/2034 (a) 3,610,317
4,354,363 Freddie Mac Multiclass Certificates Series 2773 Class OX,
5% due 2/15/2018 377,971
16,220,967 Freddie Mac Multiclass Certificates Series 2780 Class SM,
1.348% due 4/15/2034 (a) 543,055
3,166,742 Freddie Mac Multiclass Certificates
Series 2806 Class VC,
6% due 12/15/2019 3,314,349
6,727,272 Freddie Mac Multiclass Certificates Series 2825 Class NI,
5.50% due 3/15/2030 1,131,699
10,470,393 Freddie Mac Multiclass Certificates Series 2827 Class SR,
1.348% due 1/15/2022 (a) 526,371
2,100,801 Freddie Mac Multiclass Certificates Series 2840 Class SK,
8.722% due 8/15/2034 (a) 1,889,517
638,638 Freddie Mac Multiclass Certificates Series 2861 Class AX,
6.118% due 9/15/2034 (a) 639,752
17,570,311 Freddie Mac Multiclass Certificates Series 2865 Class SR,
1.908% due 10/15/2033 (a) 1,614,242
11,899,249 Freddie Mac Multiclass Certificates Series 2865 Class SV,
2.753% due 10/15/2033 (a) 1,525,440
2,424,046 Freddie Mac Multiclass Certificates Series 2927 Class BZ,
5.50% due 2/15/2035 2,367,634

5

BlackRock Income Trust, Inc. — Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
Face U.S. Government Agency Mortgage-Backed Obligations - Collateralized Mortgage
Amount Obligations Value
$ 2,310,489 Freddie Mac Multiclass Certificates Series 2933 Class SL,
2.914% due 2/15/2035 (a) $ 138,320
1,640,358 Freddie Mac Multiclass Certificates Series 2949 Class IO,
5.50% due 3/15/2035 209,554
31,876,042 Freddie Mac Multiclass Certificates Series 2990 Class WR,
1.929% due 6/15/2035 (a) 2,169,563
3,837,658 Freddie Mac Multiclass Certificates Series 3061 Class BD,
7.50% due 11/15/2035 4,000,461
90,051,784 Freddie Mac Multiclass Certificates Series 3122 Class IS,
2.048% due 3/15/2036 (a) 5,664,780
2,309,645 Freddie Mac Multiclass Certificates Series 3167 Class SX,
7.335% due 6/15/2036 (a) 2,369,449
88,190,307 Freddie Mac Multiclass Certificates Series 3225 Class EY,
1.638% due 10/15/2036 (a) 5,209,481
3,477,632 Freddie Mac Multiclass Certificates Series 3299 Class TI,
5% due 4/15/2037 759,530
223,549 Freddie Mac Multiclass Certificates Series T-8 Class A10,
0% due 11/15/2028 (e) 193,607
3,955,341 Freddie Mac Multiclass Certificates Series T-11 Class A9,
4.284% due 1/25/2028 (a) 3,557,575
990,125 Ginnie Mae Trust Series 1996-5 Class Z, 7% due 5/16/2026 1,062,862
1,671,585 Ginnie Mae Trust Series 2001-33 Class PB, 6.50% due 7/20/2031 1,750,425
1,869,597 Ginnie Mae Trust Series 2003-58 Class IT, 5.50% due 7/20/2033 189,489
15,687,734 Ginnie Mae Trust Series 2003-89 Class SA, 0.84% due 10/16/2033 916,256
1,571,633 Ginnie Mae Trust Series 2004-39 Class ID, 5% due 5/20/2033 432,134
732,553 Ginnie Mae Trust Series 2004-75 Class IJ, 5.50% due 7/20/2025 96
3,942,654 Ginnie Mae Trust Series 2004-89 Class PE, 6% due 10/20/2034 4,141,195
16,339,398 Ginnie Mae Trust Series 2005-18 Class SL, 1.203% due 2/20/2035 1,173,978
19,295,113 Ginnie Mae Trust Series 2005-47 Class SP, 0.853% due 8/20/2032 (a) 1,103,003
Total U.S. Government Agency Mortgage-Backed Obligations - Collateralized
Mortgage Obligations (Cost - $185,439,078) - 45.3% 187,661,123
Non-U.S.
Government Agency Mortgage-Backed Securities++
Collateralized 1,062,044 ABN AMRO Mortgage Corp. Series 2003-4 Class A2, 5.50% due 3/25/2033 19,917
Mortgage 110,509,505 Banc of America Funding Corp. Series 2007-2 Class 1A19,
Obligations - 22.5% 2.02% due 3/25/2037 (a)(b) 954,360
36,767,676 Banc of America Funding Corp. Series 2007-5 Class 4A3,
3.415% due 7/25/2037 (a) 1,519,527
226,363,329 Banc of America Mortgage Securities Inc. Series 2003-3 Class 1AIO,
0.286% due 5/25/2018 (a) 1,234,654
67,113 Banc of America Mortgage Securities Series 2003-6 Class 2A1,
5.315% due 8/25/2018 (a) 67,116
323,516 Collateralized Mortgage Obligation Trust Series 40 Class R,
0.58% due 4/01/2018 324
52,019 Collateralized Mortgage Obligation Trust Series 42 Class R,
6% due 10/01/2014 3,376
4,067,984 Countrywide Alternative Loan Trust Series 2005-28CB Class 1A5,
5.51% due 8/25/2035 4,054,185
5,025,117 Countrywide Alternative Loan Trust Series 2005-56 Class 1A1,
3.865% due 11/25/2035 (a) 4,684,676
4,513,042 Countrywide Alternative Loan Trust Series 2005-72 Class A2,
3.495% due 1/25/2036 (a) 4,136,634
140,534,234 Countrywide Alternative Loan Trust Series 2005-79C Class A2,
1.57% due 1/25/2036 (a)(b) 2,318,309
4,050,651 Countrywide Alternative Loan Trust Series 2007-0A9 Class A1,
3.425% due 6/25/2047 (a) 3,713,544
5,244,173 Countrywide Home Loan Mortgage Pass-Through Trust Series 2003-26
Class PO, 0% due 8/25/2033 (e) 3,683,837

6

BlackRock Income Trust, Inc. — Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
Face
Amount Non-U.S. Government Agency Mortgage-Backed Securities++ Value
$ 1,034,936 Countrywide Home Loan Mortgage Pass-Through Trust Series 2003-J4
Class PO, 0% due 6/25/2033
(e) $ 651,138
1,389,047 Countrywide Home Loan Mortgage Pass-Through Trust Series 2003-J5
Class PO, 0% due 7/25/2033
(e) 903,811
1,139,452 Countrywide Home Loan Mortgage Pass-Through Trust Series 2003-J8
Class PO, 0% due 9/25/2023
(e) 673,945
22,376 Drexel Burnham Lambert CMO Trust Series K Class 1,
0% due 9/23/2017 (e) 21,869
239,899 Drexel Burnham Lambert CMO Trust Series V Class 1,
0% due 9/01/2018 (e) 227,801
76,726 First Boston Mortgage Securities Corp. Series C Class I-O,
10.965% due 4/25/2017 21,372
71,363,600 First Horizon Alternative Mortgage Securities Series 2005-FA7 Class 1A7,
1.49% due 10/25/2035
(a)(b) 1,579,319
177,361,759 First Horizon Alternative Mortgage Securities Series 2005-FA9 Class A2,
1.42% due 12/25/2035
(a)(b) 2,506,530
41,540,320 First Horizon Alternative Mortgage Securities Series 2006-FA2 Class 1A4, 0.628% due
5/25/2036 (a) 273,086
7,557,092 GSMPS Mortgage Loan Trust Series 1998-5 Class IO,
0.97% due 6/19/2027
(a) 151,142
5,142,623 Harborview Mortgage Loan Trust Series 2006-4 Class 2A1A,
3.316% due 5/19/2047
(a) 4,678,730
152,322,402 Indymac Index Mortgage Loan Trust Series 2006-AR33 Class 4AX,
0.165% due 1/25/2037 629,823
6,341,967 JPMorgan Mortgage Trust Series 2005-S1 Class 2A1, 8% due 1/25/2035 6,557,410
1,779,409 JPMorgan Mortgage Trust Series 2006-A7 Class 2A2,
5.829% due 1/25/2037
(a) 1,806,205
109,223 Kidder Peabody Acceptance Corp Series 1993-1 Class A6,
10.799% due 8/25/2023
(a) 109,570
56,119 Kidder Peabody Mortgage Assets Trust Series B Class A2,
9.50% due 4/22/2018 12,449
4,868,374 Luminent Mortgage Trust Series 2006-A1 Class 2A1,
3.305% due 12/25/2036
(a) 4,588,360
24,219,973 MASTR Adjustable Rate Mortgages Trust Series 2004-3 Class 3AX,
0.977% due 4/25/2034
(c) 273,628
1,486,527 MASTR Alternative Loans Trust Series 2003-7 Class 4A3,
8% due 11/25/2018 1,575,034
1,298,230 MASTR Alternative Loans Trust Series 2003-9 Class 15X2,
6% due 1/25/2019 218,231
314,407 MASTR Asset Securitization Trust Series 2004-3 Class 4A15,
0% due 3/25/2034 (e) 184,399
1,583,121 Morgan Stanley Mortgage Loan Trust Series 2004-3 Class 1AX,
5% due 5/25/2019 230,850
12,745 Painewebber CMO Trust Series 88M, 13.80% due 9/01/2018 0
141,757,759 Residential Accredit Loans, Inc. Series 2005-QS16 Class A2,
1.42% due 11/25/2035
(a)(b) 1,718,756
3,099,922 Residential Accredit Loans, Inc. Series 2006-Q03 Class A1,
3.345% due 4/25/2046
(a) 2,903,741
3,310,265 Residential Accredit Loans, Inc. Series 2006-Q04 Class 2A2,
3.375% due 4/25/2046
(a) 2,959,031
983,484 Residential Asset Securitization Trust Series 2005-A15 Class 1A8,
0% due 2/25/2036 (e) 465,738
9,719,486 Residential Funding Securities LLC Series 2003-RM2 Class AI5,
8.50% due 5/25/2033 10,440,007
64,290,851 Sequoia Mortgage Trust Series 2005-2 Class XA, 0.998% due 3/20/2035 (a) 1,066,585
2,338,949 Structured Adjustable Rate Mortgage Loan Trust Series 2004-11 Class A, 6.875% due
8/25/2034 (a) 2,349,214

7

BlackRock Income Trust, Inc. — Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
Face
Amount Non-U.S. Government Agency Mortgage-Backed Securities++ Value
$ 5,226,465 Structured Adjustable Rate Mortgage Loan Trust Series 2005-18 Class 7AX, 5.50% due
9/25/2035 (a) $ 551,098
4,066,759 Structured Adjustable Rate Mortgage Loan Trust Series 2005-20 Class 3AX, 5.50% due
10/25/2035 585,221
13,754,260 Structured Adjustable Rate Mortgage Loan Trust Series 2006-2 Class 4AX, 5.50% due
3/25/2036 (a) 1,655,463
43,291,646 Structured Adjustable Rate Mortgage Loan Trust Series 2006-7 Class 3AS, 2.374% due
8/25/2036 (a) 3,330,859
11,654 Structured Mortgage Asset Residential Trust Series 1993-3C Class CX,
0% due 4/25/2024 (e) 10,443
11,889 Summit Mortgage Trust Series 2000-1 Class B1, 6.65% due 12/28/2012 (a) 11,889
83,789,289 Vendee Mortgage Trust Series 1999-2 Class 1IO, 0.052% due 5/15/2029 (a) 209,473
3,000,000 WaMu Mortgage Pass-Through Certificates Series 2005-AR4 Class
A3, 4.585% due 4/25/2035
(a) 3,009,241
942,631 Washington Mutual Alternative Mortgage Pass-Through Certificates
Series 2005-9 Class
CP, 0% due 11/25/2035 (e) 594,725
7,769,102 Washington Mutual Mortgage Pass-Through Series 2007-1 Class 1A3, 3.505% due
2/25/2037 (a) 7,155,826
93,282,471
Commercial 5,611,248 CS First Boston Mortgage Securities Corp. Series 1997-C1 Class AX, 1.672% due
Mortgage-Backed 6/20/2029(a) 301,398
Securities - 1.7% 17,715,304 Commercial Mortgage Acceptance Corp. Series 1997-ML1 Class IO, 0.705% due
12/15/2030 435,779
2,420,000 Credit Suisse Mortgage Capital Certificates Series 2007-C2 Class A3, 5.542% due
1/15/2049 (a) 2,396,194
3,500,000 First Union-Lehman Brothers Commercial Mortgage Series 1997-C2 Class D, 7.12%
due 11/18/2029 3,773,112
77,131 Morgan Stanley Capital I Series 1997-HF1 Class X, 3.438% due 7/15/2029 (a) 4
6,906,487
Total Non-U.S. Government Agency Mortgage-Backed Securities (Cost -
$100,820,564) - 24.2% 100,188,958
Corporate Bonds
Diversified Financial 2,240,806 Structured Asset Repackaged Trust, 5.806% due 1/21/2010 2,218,398
Services - 0.5%
Total Corporate Bonds (Cost - $2,240,456) - 0.5% 2,218,398
Short-Term Securities
Government Agency 3,000,000 Federal Home Loan Bank, 1.35% due 2/01/2008 3,000,000
Tri Party Repurchase 21,187,306 Lehman Brothers Inc., purchased on 1/30/2008 to yield 2% to 1/31/2008 21,187,306
Total Short-Term Securities (Cost - $24,187,306) - 5.8% 24,187,306
Number of
Contracts+ Options Purchased
Call Options 32 Receive (pay) a variable return based on the change in the since inception of the MSCI
Purchased Daily Total Return Net Emerging Market India Index and pay a floating rate based on 3-
month USD LIBOR, expiring May 2012 at USD 5.725 (f) 2,067,432
7 Receive a fixed rate of 5.39% and pay a floating rate based on 3-month LIBOR, expiring
March 2012, Broker Lehman Brothers Special Financing (f) 433,394
12 Receive a fixed rate of 5.47% and pay a floating rate based on 3-month LIBOR, expiring
May 2012, Broker Bank of America NA (f) 737,056
32 Receive a fixed rate of 5.495% and pay a floating rate based on 3-month LIBOR,
expiring May 2012, Broker Credit Suisse International (f) 1,492,702
3 Receive a fixed rate of 5.78% and pay a floating rate based on 3-month LIBOR, expiring
August 2010, Broker Deutsche Bank AG (f) 234,716
9 Receive a fixed rate of 6.025% and pay a floating rate based on 3-month LIBOR,
expiring June 2012, Broker Lehman Brothers Special Financing (f) 657,461
5,622,761
Put Options 7 Pay a fixed rate of 5.39% and receive a floating rate based on 3-month LIBOR, expiring
Purchased March 2012, Broker Lehman Brothers Special Financing (f) 404,719

8

BlackRock Income Trust, Inc.
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
Number of
Contracts+ Options Purchased Value
12 Pay a fixed rate of 5.47% and receive a floating rate based 3-month LIBOR, expiring
May 2012, Broker Bank of America NA (f) $ 559,513
32 Pay a fixed rate of 5.495% and received a floating rate based on 3-month LIBOR,
expiring May 2012, Credit Suisse International (f) 1,957,025
32 Pay a fixed rate of 5.725% and receive a floating rate based 3-month LIBOR, expiring
May 2012, Lehman Brothers Special Financing (f) 1,294,359
3 Pay a fixed rate of 5.78% and receive a floating rate based 3-month LIBOR, expiring
August 2010, Broker Deutsche Bank AG (f) 66,237
9 Pay a fixed rate of 6.025% and receive a floating rate based on 3-month LIBOR,
expiring June 2012, broker Lehman Brothers Special Financing (f) 279,694
4,561,547
Total Options Purchased
(Premiums Paid - $7,829,398) - 2.5% 10,184,308
Total Investments Before TBA Sale Commitments, Short Sales and Options
Written (Cost - $601,952,970*) - 147.9% 612,230,661
Face
Amount TBA Sale Commitments (d)
Fannie Mae Guaranteed Pass-Through Certificates:
$ (19,600,000 ) 5% due 6/01/2033-3/15/2038 (19,520,267 )
(31,600,000 ) 5.50% due 6/01/2021-2/15/2038 (32,023,851 )
(14,300,000 ) 6% due 10/01/2036-7/01/2037 (14,676,219 )
Total TBA Sale Commitments
(Proceeds Received - $65,201,993) - (16.0%) (66,220,337 )
Investments Sold Short
(34,505,000 ) U.S. Treasury Note, 4.75% due 5/31/2012 (37,370,537 )
Total Investments Sold Short
(Proceeds Received - $34,289,344) - (9.0%) (37,370,537 )
Number of
Contracts Options Written
Call Options Written 7 Pay a fixed rate of 5.115% and receive a floating rate based on 3-month LIBOR,
expiring March 2008, Broker Lehman Brothers Special Financing (f) (492,787 )
145 Pay a fixed rated of 4.80% and receive a floating rate based on 3-month USD LIBOR,
expiring March 2011, Broker Goldman Sachs Capital Markets (f) (5,482,412 )
96 Pay a fixed rated of 4.95% and receive a floating rate based on 3-month USD LIBOR,
expiring March 2011, Broker JPMorgan Chase (f) (2,356,800 )
6 Pay a fixed rated of 5.135% and receive a floating rate based on 3-month LIBOR,
expiring April 2008, Broker Barclays Bank Plc (f) (396,726 )
20 Pay a fixed rated of 5.4475% and receive a floating rate based on 3-month LIBOR,
expiring May 2010, Broker Credit Suisse International (f) (1,095,218 )
5 Pay a fixed rated of 5.485% and receive a floating rate based on expiring 3-month
LIBOR, expiring October 2009, Broker JPMorgan Chase (f) (380,111 )
70 Pay a fixed rated of 5.50% and receive a floating rate based on 3-month USD LIBOR,
expiring March 2010, Broker UBS AG (f) (2,919,000 )
39 Pay a fixed rated of 5.50% and receive a floating rate based on 3-month USD LIBOR,
expiring September 2011, Broker Citibank NA (f) (2,701,920 )
12 Pay a fixed rated of 5.67% and receive a floating rate based on 3-month LIBOR,
expiring January 2010, Broker Citibank NA (f) (1,002,379 )
19 Pay a fixed rated of 5.685% and receive a floating rate based on 3-month LIBOR,
expiring May 2010, Broker Lehman Brothers Special Financing (f) (2,275,963 )
64 Pay a fixed rated of 5.88% and receive a floating rate based on 3-month LIBOR,
expiring June 2008, Broker Deutsche Bank AG (f) (7,945,796 )
4 Receive a fixed rated of 5.46% and pay a floating rate based on 3-month LIBOR,
expiring August 2008, Broker JPMorgan Chase (f) (310,958 )
7 Euro dollar future expires March 2008 USD 94 (54,162 )
(27,414,232 )
Put Options Written 4 Pay a fixed rated of 5.46% and receive a floating rate based on 3-month LIBOR,
expiring August 2008, Broker JPMorgan Chase (f) (21,899 )

9

BlackRock Income Trust, Inc. — Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
Number of
Contracts Options Written Value
7 Receive a fixed rate of 5.115% and pay a floating rate based on 3-month LIBOR,
expiring March 2008, Broker Lehman Brothers Special Financing (f) $ (10,775 )
6 Receive a fixed rate of 5.135% and pay a floating rate based on 3-month LIBOR,
expiring April 2008, Broker Barclays Bank Plc (f) (11,389 )
20 Receive a fixed rate of 5.4475% and pay a floating rate based on 3-month LIBOR,
expiring May 2010, Broker Credit Suisse International (f) (2,062,671 )
5 Receive a fixed rate of 5.485% and pay a floating rate based on 3-month LIBOR,
expiring October 2009, Broker JPMorgan Chase (f) (127,046 )
12 Receive a fixed rate of 5.67% and pay a floating rate based on 3-month LIBOR,
expiring January 2010, Broker Citibank NA (f) (263,537 )
19 Receive a fixed rate of 5.685% and pay a floating rate based on 3-month LIBOR,
expiring May 2010, Broker Lehman Brothers Special Financing (f) (886,418 )
(3,383,735 )
Total Options Written (Premiums Received - $12,943,071) - (7.4%) (30,797,967 )
Total Investments Net of TBA Sale Commitments, Short Sales and Options Written
(Cost - $489,518,562) - 115.5% 477,841,820
Liabilities in Excess of Other Assets - (15.5%) (63,958,136 )
Net Assets - 100.0% $ 413,883,684
  • The cost and unrealized appreciation and (depreciation) of investments as of January 31, 2008, as computed for federal income tax purposes, were as follows:
Aggregate cost $
Gross unrealized appreciation $ 37,741,163
Gross unrealized depreciation (27,463,472 )
Net unrealized appreciation $ 10,277,691

| † | One contract represents a notional
amount of $1,000,000. |
| --- | --- |
| †† | Asset-Backed and Mortgage-Backed Securities are subject to principal paydowns. As a result of the prepayments or refinancings of the underlying instruments, the average life may be substantially less than the original
maturity. |
| (a) | Variable rate security. |
| (b) | Represents as zero coupon bond; the interest rate shown reflects the effective yield at the time of purchase. |
| (c) | Represents the interest only portion of an asset-backed or mortgage-backed security and has neither a nominal or notional amount of principal. |
| (d) | Represents or includes a "to-be-announced" transaction. The Trust has committed to purchasing securities for which all specific information is not available at this time. |
| (e) | Represents the principal only portion of a mortgage-backed security. |
| (f) | This European style swaption, which
can be exercised only on the expiration date, represents a standby commitment
whereby the writer of the option is obligated to enter into a predetermined
interest rate swap contract upon exercise of swaption. |
| (g) | Separately Traded Registered Interest and Principal of Securities. |
| | • Financial futures contract sold as of
January 31, 2008 were as follows: |

| Number of — Contracts | Issue | Expiration
Date | Face
Value | Depreciation | |
| --- | --- | --- | --- | --- | --- |
| 1,520 | 2-Year U.S. | | | | |
| | Treasury Bond | March 2008 | $ 319,395,549 | $ (4,696,951 | ) |
| 35 | 5-Year U.S. | | | | |
| | Treasury Bond | March 2008 | $ 3,844,454 | (110,546 | ) |
| 1,592 | 10-Year U.S. | | | | |
| | Treasury Bond | March 2008 | $ 181,248,185 | (4,568,065 | ) |
| 430 | 30-Year U.S. | | | | |
| | Treasury Bond | March 2008 | $ 50,745,419 | (558,956 | ) |
| 158 | EuroDollar Futures | March 2008 | $ 37,679,357 | (673,168 | ) |
| 146 | EuroDollar Futures | June 2008 | $ 34,929,402 | (661,747 | ) |
| 148 | EuroDollar Futures | September 2008 | $ 35,433,352 | (661,998 | ) |
| 122 | EuroDollar Futures | December 2008 | $ 29,220,367 | (497,308 | ) |
| 116 | EuroDollar Futures | March 2009 | $ 27,752,835 | (454,015 | ) |
| 106 | EuroDollar Futures | June 2009 | $ 25,359,835 | (362,390 | ) |

10

BlackRock Income Trust, Inc.
Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
Number of — Contracts Issue Expiration Date Face Value Unrealized — Depreciation
114 EuroDollar Futures September 2009 $ 27,236,635 $ (378,440 )
47 EuroDollar Futures December 2009 $ 11,306,832 (59,531 )
41 EuroDollar Futures March 2010 $ 9,843,000 (56,962 )
41 EuroDollar Futures June 2010 $ 9,828,487 (55,587 )
41 EuroDollar Futures September 2010 $ 9,815,762 (53,963 )
16 EuroDollar Futures December 2010 $ 3,840,751 (5,649 )
Total Unrealized Depreciation - Net $ (13,855,276 )
• Swaps
outstanding as of January 31, 2008 were as follows:
Notional Unrealized — Appreciation
Amount (Depreciation)
Pay a fixed rate of 5.37625% and receive a floating rate based on 3-month USD LIBOR
Broker, Bank of America, NA
Expires July 2009 $ 187,370,000 $ 6,758,812
Receive a fixed rate of 5.38341% and pay a floating rate based on 3-month USD LIBOR
Broker, Credit Suisse First Boston
Expires July 2009 $ 200,000,000 7,153,827
Receive a fixed rate of 4.7775% and pay a floating rate based on 3-month USD LIBOR
Broker, Citibank, NA
Expires August 2009 $ 18,800,000 558,211
Receive a fixed rate of 4.034% and pay a floating rate based on 3-month USD LIBOR
Broker, Deutsche Bank AG London
Expires December 2009 $ 16,200,000 323,394
Receive a fixed rate of 4.10% and pay a floating rate based on 3-month USD LIBOR
Broker, Lehman Brothers Special Financing
Expires December 2009 $ 12,600,000 267,185
Receive a fixed rate of 4.05% and pay a floating rate based on 3-month USD LIBOR
Broker, Barclays Bank, Plc
Expires December 2009 $ 5,600,000 113,402
Pay a fixed rate of 3.535% and receive a floating rate based on 3-month USD LIBOR
Broker, Lehman Brothers Special Financing
Expires January 2010 $ 29,300,000 (307,870 )
Receive a fixed rate of 4.31996% and pay a floating rate based on 3-month USD LIBOR
Broker, UBS Warburg
Expires September 2010 $ 12,000,000 375,066
Receive a fixed rate of 4.95% and pay a floating rate based on 3-month USD LIBOR
Broker, UBS Warburg
Expires November 2011 $ 4,400,000 258,319

11

BlackRock Income Trust, Inc. — Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
Unrealized
Notional Appreciation
Amount (Depreciation)
Receive a fixed rate of 5.025% and pay a floating rate based on 3-month USD LIBOR
Broker, Deutsche Bank AG London
Expires November 2011 $ 3,000,000 $ 184,374
Receive a fixed rate of 5.39256% and pay a floating rate based on 3-month LIBOR
Broker, Credit Suisse First Boston
Expires June 2012 $ 64,000,000 5,025,210
Pay a fixed rate of 4.88911% and receive a floating rate based on 3-month USD LIBOR
Broker, Goldman Sachs Capital Markets
Expires April 2014 $ 19,000,000 (1,384,175 )
Pay a fixed rate of 4.39919% and receive a floating rate based on 3-month USD LIBOR
Broker, Deutsche Bank AG London
Expires October 2014 $ 12,500,000 (398,495 )
Receive a fixed rate of 4.8834% and pay a floating rate based on 3-month USD LIBOR
Broker, UBS Warburg
Expires March 2015 $ 25,000,000 2,047,129
Pay a fixed rate of 4.925% and receive a floating rate based on 3-month USD LIBOR
Municipal Swap Index rate
Broker, Deutsche Bank AG London
Expires March 2015 $ 16,000,000 (971,490 )
Pay a fixed rate of 4.50% and receive a floating rate based on 3-month USD LIBOR
Broker, JPMorgan Chase
Expires May 2015 $ 3,000,000 (103,273 )
Receive a fixed rate of 4.442% and pay a floating rate based on 3-month USD LIBOR
Broker, Morgan Stanley Capital Services Inc.
Expires July 2015 $ 4,500,000 129,283
Receive a fixed rate of 5.94% and pay a floating rate based on 3-month USD LIBOR
Broker, UBS Warburg
Expires December 2015 $ 2,800,000 360,094
Receive a fixed rate of 4.87% and pay a floating rate based on 3-month LIBOR
Municipal Swap Index rate
Broker, Goldman Sachs Capital Markets
Expires January 2016 $ 5,500,000 313,616
Receive a fixed rate of 5.723% and pay a floating rate based on 3-month USD LIBOR
Broker, JPMorgan Chase
Expires July 2016 $ 5,400,000 621,621

12

BlackRock Income Trust, Inc. — Schedule of Investments as of January 31, 2008 (Unaudited) (in U.S. dollars)
Unrealized
Notional Appreciation
Amount (Depreciation)
Receive a fixed rate of 5.295% and pay a floating rate based on 3-month USD LIBOR
Broker, UBS Warburg
Expires February 2017 $ 11,900,000 $ 1,022,104
Receive a fixed rate of 5.25% and pay a floating rate based on 3-month USD LIBOR
Broker, Goldman Sachs Capital Markets
Expires April 2017 $ 800,000 64,412
Pay a fixed rate of 5.74% and receive a floating rate based on 3-month USD LIBOR
Broker, Deutsche Bank AG London
Expires June 2017 $ 1,400,000 (166,279 )
Pay a fixed rate of 5.5451% and receive a floating rate based on 3-month USD LIBOR
Broker, Deutsche Bank AG London
Expires June 2017 $ 1,800,000 (186,476 )
Pay a fixed rate of 5.6825% and receive a floating rate based on 3-month LIBOR
Broker, Lehman Brothers Special Financing
Expires June 2017 $ 5,200,000 (591,050 )
Pay a fixed rate of 5.85% and receive a floating rate based on 3-month USD LIBOR
Broker, Deutsche Bank AG London
Expires June 2017 $ 1,000,000 (127,404 )
Receive a fixed rate of 5.505% and pay a floating rate based on 3-month USD LIBOR
Broker, Bank of America, NA
Expires August 2017 $ 165,647,000 17,004,927
Pay a fixed rate of 4.54% and receive a floating rate based on 3-month USD LIBOR
Broker, Morgan Stanley Capital Services Inc.
Expires December 2017 $ 7,700,000 (166,364 )
Pay a fixed rate of 4.4575% and receive a floating rate based on 3-month USD LIBOR
Broker, Goldman Sachs Capital Markets
Expires January 2018 $ 2,600,000 (36,541 )
Receive a fixed rate of 5.411% and pay a floating rate based on 3-month LIBOR
Broker, JPMorgan Chase
Expires August 2022 $ 9,565,000 854,489
Total $ 38,996,058

13

Item 2 – Controls and Procedures

2(a) – The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

2(b) – There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3 – Exhibits

Certifications – Attached hereto

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

BlackRock Income Trust, Inc.

By:
Donald C. Burke
Chief Executive
Officer of
BlackRock Income
Trust, Inc.

Date: March 24, 2008

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:
Donald C. Burke
Chief Executive
Officer (principal executive officer) of
BlackRock Income
Trust, Inc.

Date: March 24, 2008

By:
Neal J. Andrews
Chief Financial
Officer (principal financial officer) of
BlackRock Income
Trust, Inc.

Date: March 24, 2008

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