Dividend Dates and Distribution Amounts Announced for Certain BlackRock Closed-End Funds

Business Wire,  June 2, 2008  

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NEW YORK -- Certain BlackRock closed-end funds announced distributions today as detailed below.

Several of the municipal closed-end funds announced dividend reductions, which take into account the funds' earning potential and level of undistributed net investment income. For several of the funds with dividend reductions, large undistributed net investment income balances have allowed the funds to pay out distributions greater than their earnings. These dividend reductions were made in order to better align the funds with their current earnings rates.

BlackRock Insured Municipal 2008 Term Trust, Inc. (NYSE:BRM), BlackRock California Insured Municipal 2008 Term Trust, Inc. (NYSE:BFC), BlackRock Florida Insured Municipal 2008 Term Trust (NYSE:BRF), and BlackRock New York Insured Municipal 2008 Term Trust, Inc. (NYSE:BLN) are among the municipal closed-end funds reducing dividends. BRM, BFC, BRF and BLN are term trusts maturing in December 2008. These dividend reductions reflect the funds' projected earnings potential as well as the funds' primary objective of returning initial offering price to investors at maturity.

In terms of taxable funds, BlackRock Senior High Income Fund, Inc. (NYSE:ARK), BlackRock Global Floating Rate Income Trust (NYSE:BGT), BlackRock Limited Duration Income Trust (NYSE:BLW), and BlackRock Diversified Income Strategies Fund, Inc. (NYSE:DVF) announced dividend reductions. These dividend reductions take into account the funds' earnings potential and the effect of decreasing interest rates on floating rate securities held by the funds.

BlackRock Preferred and Equity Advantage Trust (NYSE:BTZ) also announced a dividend reduction. This reduction takes into account the Trust's earnings potential and the current market environment for preferreds and equities. Given these factors and the portfolio management team's views, the portfolio is reallocating a portion of its assets away from equities and into preferreds in an attempt to better meet the Trust's investment objective of seeking current income, current gains and capital appreciation.

Details are as follows:

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(*)In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, as amended, the funds noted posted a Section 19 notice to the DTC bulletin board and sent out to their registered shareholders a Section 19 notice with the previous dividend payment. This notice was not for tax reporting purposes and was provided only for informational purposes. This information can be found in the "Closed-End Funds" section of www.blackrock.com.

About BlackRock

BlackRock is one of the world's largest publicly traded investment management firms. At March 31, 2008, BlackRock's AUM was $1.364 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([R])investment system, risk management and financial advisory services. Headquartered in New York City, as of March 31, 2008, the firm has approximately 5,600 employees in 19 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.

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