BlackRock Announces Changes to Names and Investment Policies for Certain Florida Municipal Closed-End Funds

BlackRock, Inc. today announced that its Closed-End Fund Board of Trustees has approved changes to the names and investment policies for seven of its Florida municipal closed-end funds (the "Funds”). Each Fund’s current non-fundamental investment policy requires, under normal market conditions, for the Funds to invest at least 80% of their total assets in Florida municipal bonds. Due to the repeal of the Florida Intangible Personal Property Tax as of January 2007, the Board has approved an amended policy allowing the Funds flexibility to invest in municipal obligations regardless of geographic location. BlackRock and the Board believe the amended policy will allow BlackRock to better manage each Fund’s portfolio in the best interests of the Fund. The approved changes will not alter the Fund’s investment objective.

Under current market conditions, BlackRock anticipates that it will gradually reposition the Funds’ portfolios over time and that during such period each Fund may continue to hold a substantial portion of its assets in Florida municipal bonds. At this time, it is uncertain how long the repositioning may take, and the Funds may continue to be subject to risks associated with investing a substantial portion of their assets in Florida municipal bonds until the repositioning is complete.

The Board also approved changing the names of the affected Funds to reflect this change in investment policy. The Funds will continue to trade on their respective exchanges under their current ticker symbols. Name changes are as follows:

For more information about this announcement, please see the Question and Answer document available at www.blackrock.com.

About BlackRock

BlackRock is one of the world’s largest publicly traded investment management firms. At June 30, 2008, BlackRock’s AUM was $1.428 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, as of June 30, 2008, the firm has approximately 5,700 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.

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 the BlackRock closed-end funds’ 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 and the closed-end funds managed by BlackRock and its affiliates assume no duty to and do 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.

The following factors, among others, could cause actual events to differ materially from forward looking statements or historical occurrences: (1) the ability of the BlackRock closed-end funds that have announced these name and investment policy changes to implement these changes on a timely basis; (2) the effects of changes in market and economic conditions; (3) other legal and regulatory developments; and (4) other additional execution risks and uncertainties.