Updated Quarter-End Portfolio Data Now Available For BlackRock Closed-End Funds

  
    
  
  
    
      BlackRock, Inc. today announced that quarter-end fund data for its 
      closed-end funds, as of March 31, 2007, is now available. The 
      information is available on BlackRock’s 
      website at www.blackrock.com.
    
    
      About BlackRock
    
    
      BlackRock is one of the world’s largest 
      publicly traded investment management firms. As of March 31, 2007, 
      assets under management were $1.154 trillion. The firm manages assets on 
      behalf of institutions and individuals worldwide through a variety of 
      equity, fixed income, cash management and alternative investment 
      products. In addition, a growing number of institutional investors use BlackRock 
      Solutions investment system, risk management and financial advisory 
      services. Headquartered in New York City, the firm has approximately 
      5,000 employees in 18 countries and a major presence in key global 
      markets, including the U.S., Europe, Asia, Australia and the Middle 
      East. For additional information, please visit the Company's website at www.blackrock.com.
    
    
      Forward-Looking Statements
    
    
      This press release, and other statements that BlackRock may make, may 
      contain forward-looking statements within the meaning of the Private 
      Securities Litigation Reform Act, with respect to BlackRock’s 
      future financial or business performance, strategies or expectations. 
      Forward-looking statements are typically identified by words or phrases 
      such as “trend,” “potential,” 
      “opportunity,” “pipeline,” 
      “believe,” “comfortable,” 
      “expect,” “anticipate,” 
      “current,” “intention,” 
      “estimate,” “position,” 
      “assume,” “outlook,” 
      “continue,” “remain,” 
      “maintain,” “sustain,” 
      “seek,” “achieve,” 
      and similar expressions, or future or conditional verbs such as “will,” 
      “would,” “should,” 
      “could,” “may” 
      or similar expressions.
    
    
      BlackRock cautions that forward-looking statements are subject to 
      numerous assumptions, risks and uncertainties, which change over time. 
      Forward-looking statements speak only as of the date they are made, and 
      BlackRock assumes no duty to and does not undertake to update 
      forward-looking statements. Actual results could differ materially from 
      those anticipated in forward-looking statements and future results could 
      differ materially from historical performance.
    
    
      In addition to factors previously disclosed in BlackRock's SEC reports 
      and those identified elsewhere in this communication, the following 
      factors, among others, could cause actual results to differ materially 
      from forward-looking statements or historical performance: (1) the 
      introduction, withdrawal, success and timing of business initiatives and 
      strategies; (2) changes in political, economic or industry conditions, 
      the interest rate environment or financial and capital markets, which 
      could result in changes in demand for products or services or in the 
      value of assets under management; (3) the relative and absolute 
      investment performance of BlackRock's investment products, including its 
      separately managed accounts and the former MLIM business; (4) the impact 
      of increased competition; (5) the impact of capital improvement 
      projects; (6) the impact of future acquisitions or divestitures; (7) the 
      unfavorable resolution of legal proceedings; (8) the extent and timing 
      of any share repurchases; (9) the impact, extent and timing of 
      technological changes and the adequacy of intellectual property 
      protection; (10) the impact of legislative and regulatory actions and 
      reforms and regulatory, supervisory or enforcement actions of government 
      agencies relating to BlackRock, Merrill Lynch or PNC; (11) terrorist 
      activities and international hostilities, which may adversely affect the 
      general economy, domestic and local financial and capital markets, 
      specific industries, and BlackRock; (12) the ability to attract and 
      retain highly talented professionals; (13) fluctuations in foreign 
      currency exchange rates, which may adversely affect the value of 
      advisory fees earned by BlackRock; (14) the impact of changes to tax 
      legislation and, generally, the tax position of the Company; (15) 
      BlackRock's ability to successfully integrate the MLIM business with its 
      existing business; (16) the ability of BlackRock to effectively manage 
      the former MLIM assets along with its historical assets under 
      management; and (17) BlackRock's success in maintaining the distribution 
      of its products.
    
    
      BlackRock's Annual Reports on Form 10-K and BlackRock's subsequent 
      filings with the SEC, accessible on the SEC's website at http://www.sec.gov 
      and on BlackRock’s website at http://www.blackrock.com, 
      discuss these factors in more detail and identify additional factors 
      that can affect forward-looking statements. The information contained on 
      our website is not a part of this press release.