BlackRock, Inc. (NYSE:BLK) today announced the dates for the
partial redemptions of auction rate preferred shares (ARPS) issued
by 49 of the 60 BlackRock tax-exempt fixed income closed-end funds
that currently have ARPS outstanding. The announced redemptions
total approximately $488 million and, when taken together with
BlackRock�s previously announced redemptions of ARPS, represent
more than $3.19 billion of BlackRock�s total outstanding ARPS
issued across 66 of its taxable and tax-exempt closed-end
funds.
Each of the funds will be using tender option bonds (TOBs) to
finance the partial redemption of its ARPS. TOBs are floating rate
securities issued by trusts into which a fund has deposited
municipal securities. The amount of ARPS being redeemed at this
time varies by fund and ranges from 0.4% to 35.8% of the ARPS
outstanding for each fund. The ability to utilize TOBs in place of
ARPS varies by each fund based, in part, on the eligibility of its
underlying municipal bonds for TOBs programs. ARPS refinancing
utilizing TOBs is not currently feasible for certain BlackRock
funds where the availability of a fund�s municipal bonds eligible
for creating TOBs is limited. The extent to which a fund is able to
use TOBs to redeem ARPS depends on market conditions, the fund�s
portfolio composition, the cost of liquidity and the willingness of
liquidity providers to support TOBs, among other factors.
Redemptions will be allocated pro rata among the various series
of ARPS of each fund. The Depository Trust Company (DTC), the
securities� holder of record, will determine by random lottery how
a partial series redemption will be allocated among each
participant broker-dealer account and each participant
broker-dealer will determine how to allocate each redemption among
the holders of the relevant series of ARPS held by it.
For more information on the specific BlackRock tax-exempt fixed
income closed-end fund ARPS that are to be redeemed, including
CUSIP numbers and redemption dates, please see the redemption
schedule included in this press release.
BlackRock will continue to keep market participants and
shareholders informed of its closed-end funds� progress to redeem
ARPS via press releases and on BlackRock�s website at
www.blackrock.com.
Redemption
Schedule
ARPS Issued by BlackRock Tax-Exempt Fixed Income Closed-End
Funds
�
BlackRock Insured Municipal
Income Investment Trust (NYSE:BAF)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
M7 � 09250G201 � July 14, 2009 � 84 � $2,100,000
(Represents 4.7% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock Municipal Income
Investment Trust (NYSE:BBF)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
T7 � 09248H204 � July 8, 2009 � 612 � $15,300,000
(Represents 30.9% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock Municipal Bond Trust
(NYSE:BBK)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
T7 � 09249H203 � July 8, 2009 � 12 � $300,000 R7 � 09249H302 � July
10, 2009 � 12 � $300,000
(Represents 0.7% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock California Insured
Municipal Income Trust (NYSE:BCK)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
F7 � 092484203 � July 13, 2009 � 249 � $6,225,000
(Represents 16.6% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock California Municipal
Income Trust II (NYSE AMEX:BCL)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
T7 � 09249S209 � July 8, 2009 � 264 � $6,600,000 R7 � 09249S308 �
July 10, 2009 � 264 � $6,600,000
(Represents 22.1% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock Municipal Income
Trust (NYSE:BFK)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
M7 � 09248F208 � July 14, 2009 � 178 � $4,450,000 T7 � 09248F307 �
July 8, 2009 � 178 � $4,450,000 W7 � 09248F406 � July 9, 2009 � 178
� $4,450,000 R7 � 09248F505 � July 10, 2009 � 178 � $4,450,000 F7 �
09248F604 � July 13, 2009 � 178 � $4,450,000
(Represents 7.6% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock New York Municipal
Income Trust II (NYSE AMEX:BFY)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
W7 � 09249R201 � July 9, 2009 � 7 � 175,000
(Represents 0.4% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock California Municipal
Income Trust (NYSE:BFZ)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
T7 � 09248E201 � July 8, 2009 � 598 � $14,950,000 R7 � 09248E300 �
July 10, 2009 � 598 � $14,950,000
(Represents 29.6% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock Virginia Municipal
Bond Trust (NYSE AMEX:BHV)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
R7 � 092481209 � July 10,2009 � 20 � $500,000
(Represents 4.1% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock Municipal Bond
Investment Trust (NYSE:BIE)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
W7 � 09249K206 � July 9, 2009 � 333 � $8,325,000
(Represents 31.8% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock Investment Quality
Municipal Trust, Inc. (NYSE:BKN)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
T7 � 09247D204 � July 8, 2009 � 22 � $550,000 T28 � 09247D303 �
July 8, 2009 � 18 � $450,000
(Represents 0.8% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock Municipal Income
Trust II (NYSE AMEX:BLE)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
M7 � 09249N200 � July 14, 2009 � 147 � $3,675,000 T7 � 09249N309 �
July 8, 2009 � 148 � $3,700,000 W7 � 09249N408 � July 9, 2009 � 147
� $3,675,000 R7 � 09249N507 � July 10, 2009 � 148 � $3,700,000
(Represents 8.9% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock New Jersey Municipal
Bond Trust (NYSE AMEX:BLJ)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
M7 � 09249A208 � July 14, 2009 � 17 � $425,000
(Represents 2.2% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock New Jersey Municipal
Income Trust (NYSE:BNJ)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
R7 � 09248J200 � July 10, 2009 � 55 � $1,375,000
(Represents 2.3% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock New York Municipal
Income Trust (NYSE:BNY)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
W7 � 09248L205 � July 9, 2009 � 27 � $675,000 F7 � 09248L304 � July
13, 2009 � 27 � $675,000
(Represents 1.4% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock Pennsylvania
Strategic Municipal Trust (NYSE AMEX:BPS)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
W7 � 09248R202 � July 9, 2009 � 20 � $500,000
(Represents 3.0% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock New York Municipal
Bond Trust (NYSE:BQH)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
T7 � 09249P205 � July 8, 2009 � 11 � $275,000
(Represents 1.2% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock Strategic Municipal
Trust (NYSE:BSD)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
W7 � 09248T208 � July 9, 2009 � 191 � $4,775,000
(Represents 10.0% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock New York Insured
Municipal Income Trust (NYSE:BSE)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
R7 � 09249U204 � July 10, 2009 � 44 � $1,100,000
(Represents 2.6% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock Insured Municipal
Income Trust (NYSE:BYM)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
M7 � 092479203 � July 14, 2009 � 169 � $4,225,000 R7 � 092479302 �
July 10, 2009 � 169 � $4,225,000 F7 � 092479401 � July 13, 2009 �
169 � $4,225,000
(Represents 8.5% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock California Municipal
Bond Trust (NYSE:BZA)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
F7 � 09249J209 � July 13, 2009 � 221 � $5,525,000
(Represents 19.7% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniYield California
Insured Fund, Inc. (NYSE:MCA)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09254N202 � August 3, 2009 � 169 � $4,225,000 B � 09254N301 �
July 13, 2009 � 169 � $4,225,000 C � 09254N400 � July 8, 2009 � 150
� $3,750,000 D � 09254N509 � July 10, 2009 � 187 � $4,675,000 E �
09254N608 � July 6, 2009 � 187 � $4,675,000 F � 09254N707 � July 9,
2009 � 169 � $4,225,000
(Represents 13.4% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniEnhanced Fund,
Inc. (NYSE:MEN)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09253Y209 � July 14, 2009 � 174 � $4,350,000 B � 09253Y308 �
July 21, 2009 � 174 � $4,350,000 C � 09253Y407 � June 30, 2009 �
174 � $4,350,000 D � 09253Y506 � July 6, 2009 � 129 � $3,225,000
(Represents 10.2% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniHoldings Insured
Investment Fund (NYSE:MFL)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09254P207 � July 8, 2009 � 124 � $3,100,000 B � 09254P306 �
July 6, 2009 � 207 � $5,175,000 C � 09254P405 � July 7, 2009 � 203
� $5,075,000 D � 09254P504 � July 9, 2009 � 128 � $3,200,000 E �
09254P603 � July 6, 2009 � 197 � $4,925,000
(Represents 7.3% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniYield Insured
Investment Fund (NYSE:MFT)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09254T209 � July 14, 2009 � 191 � $4,775,000 B � 09254T308 �
July 9, 2009 � 38 � $950,000
(Represents 9.2% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniHoldings Fund,
Inc. (NYSE:MHD)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09253N203 � July 8, 2009 � 145 � $3,625,000 B � 09253N302 �
July 6, 2009 � 145 � $3,625,000 C � 09253N401 � July 7, 2009 � 39 �
$975,000
(Represents 8.9% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniHoldings New York
Insured Fund, Inc. (NYSE:MHN)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09255C205 � July 9, 2009 � 56 � $1,400,000 B � 09255C304 � July
6, 2009 � 56 � $1,400,000 C � 09255C403 � July 7, 2009 � 90 �
$2,250,000 D � 09255C502 � July 6, 2009 � 109 � $2,725,000 E �
09255C601 � July 8, 2009 � 59 � $1,475,000
(Represents 3.7% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniYield New Jersey
Insured Fund, Inc. (NYSE:MJI)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09255A209 � July 6, 2009 � 37 � $925,000 B � 09255A308 � July
6, 2009 � 12 � $300,000
(Represents 1.9% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniYield
Pennsylvania Insured Fund (NYSE:MPA)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09255G206 � July 14, 2009 � 173 � $4,325,000 B � 09255G305 �
July 8, 2009 � 208 � $5,200,000 C � 09255G404 � July 6, 2009 � 61 �
$1,525,000
(Represents 14.3% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniYield Quality
Fund II, Inc. (NYSE:MQT)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09254G207 � August 3, 2009 � 146 � $3,650,000 B � 09254G306 �
July 13, 2009 � 146 � $3,650,000 C � 09254G405 � July 13, 2009 �
146 � $3,650,000 D � 09254G504 � July 7, 2009 � 29 � $725,000
(Represents 9.1% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniYield Quality
Fund, Inc. (NYSE:MQY)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09254F209 � August 4, 2009 � 123 � $3,075,000 B � 09254F308 �
July 14, 2009 � 123 � $3,075,000 C � 09254F407 � July 17, 2009 �
123 � $3,075,000 D � 09254F506 � July 10, 2009 � 123 � $3,075,000 E
� 09254F605 � July 6, 2009 � 123 � $3,075,000
(Represents 8.0% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniHoldings
California Insured Fund, Inc. (NYSE:MUC)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09254L206 � July 7, 2009 � 164 � $4,100,000 B � 09254L305 �
July 6, 2009 � 332 � $8,300,000 C � 09254L404 � July 6, 2009 � 274
� $6,850,000 D � 09254L503 � July 9, 2009 � 253 � $6,325,000 E �
09254L602 � July 8, 2009 � 312 � $7,800,000
(Represents 11.6% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniHoldings Insured
Fund II, Inc. (NYSE:MUE)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09254C206 � July 6, 2009 � 147 � $3,675,000 B � 09254C305 �
July 9, 2009 � 147 � $3,675,000 C � 09254C404 � July 8, 2009 � 278
� $6,950,000
(Represents 9.8% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniHoldings Fund II,
Inc. (NYSE:MUH)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09253P208 � July 8, 2009 � 119 � $2,975,000 B � 09253P307 �
July 6, 2009 � 119 � $2,975,000
(Represents 9.8% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniHoldings New
Jersey Insured Fund, Inc. (NYSE:MUJ)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09254X200 � July 7, 2009 � 27 � $675,000 B � 09254X309 � July
6, 2009 � 27 � $675,000 C � 09254X408 � July 8, 2009 � 47 �
$1,175,000 D � 09254X507 � July 9, 2009 � 37 � $925,000 E �
09254X606 � July 6, 2009 � 22 � $550,000
(Represents 2.3% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniHoldings Insured
Fund, Inc. (NYSE:MUS)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09254A200 � July 6, 2009 � 144 � $3,600,000 B � 09254A309 �
July 7, 2009 � 144 � $3,600,000
(Represents 7.6% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniVest Fund, Inc.
(NYSE AMEX:MVF)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09253R204 � June 29, 2009 � 191 � $4,775,000 B � 09253R303 �
July 6, 2009 � 191 � $4,775,000 C � 09253R402 � July 13, 2009 � 191
� $4,775,000 D � 09253R501 � July 20, 2009 � 191 � $4,775,000 E �
09253R600 � June 29, 2009 � 286 � $7,150,000 F � 09253R709 � July
8, 2009 � 225 � $5,625,000
(Represents 11.6% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniVest Fund II,
Inc. (NYSE:MVT)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09253T200 � July 30, 2009 � 111 � $2,775,000 B � 09253T309 �
July 9, 2009 � 111 � $2,775,000 C � 09253T408 � July 9, 2009 � 111
� $2,775,000 D � 09253T507 � July 7, 2009 � 99 � $2,475,000
(Represents 7.2% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniYield California
Fund, Inc. (NYSE:MYC)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09254M204 � July 9, 2009 � 282 � $7,050,000 B � 09254M303 �
July 2, 2009 � 282 � $7,050,000 C � 09254M402 � July 30, 2009 � 94
� $2,350,000 D � 09254M501 � July 7, 2009 � 164 � $4,100,000
(Represents 16.2% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniYield Fund, Inc.
(NYSE:MYD)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09253W203 � July 29, 2009 � 105 � $2,625,000 B � 09253W302 �
July 8, 2009 � 105 � $2,625,000 C � 09253W401 � July 22, 2009 � 105
� $2,625,000 D � 09253W500 � July 15, 2009 � 105 � $2,625,000 E �
09253W609 � July 8, 2009 � 164 � $4,100,000 F � 09253W708 � July 9,
2009 � 101 � $2,525,000 G � 09253W807 � July 6, 2009 � 117 �
$2,925,000
(Represents 7.4% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniYield Investment
Fund (NYSE:MYF)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09254R203 � July 2, 2009 � 627 � $15,675,000 B � 09254R302 �
July 6, 2009 � 456 � $11,400,000 C � 09254R401 � July 8, 2009 � 171
� $4,275,000
(Represents 34.5% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniYield Insured
Fund, Inc. (NYSE:MYI)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09254E202 � July 23, 2009 � 80 � $2,000,000 B � 09254E301 �
July 30, 2009 � 80 � $2,000,000 C � 09254E400 � July 9, 2009 � 80 �
$2,000,000 D � 09254E509 � July 16, 2009 � 80 � $2,000,000 E �
09254E608 � July 9, 2009 � 145 � $3,625,000 F � 09254E707 � August
4, 2009 � 87 � $2,175,000 G � 09254E806 � July 14, 2009 � 87 �
$2,175,000 H � 09254E889 � July 6, 2009 � 95 � $2,375,000 I �
09254E871 � July 6, 2009 � 95 � $2,375,000
(Represents 5.5% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniYield New Jersey
Fund, Inc. (NYSE:MYJ)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09254Y208 � July 9, 2009 � 51 � $1,275,000 B � 09254Y307 � July
8, 2009 � 32 � $800,000 C � 09254Y406 � July 7, 2009 � 18 �
$450,000
(Represents 2.4% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniYield New York
Insured Fund, Inc. (NYSE:MYN)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09255E201 � July 21, 2009 � 66 � $1,650,000 B � 09255E300 �
June 30, 2009 � 66 � $1,650,000 C � 09255E409 � July 6, 2009 � 108
� $2,700,000 D � 09255E508 � July 8, 2009 � 76 � $1,900,000 E �
09255E607 � July 16, 2009 � 85 � $2,125,000 F � 09255E706 � July 6,
2009 � 70 � $1,750,000
(Represents 4.5% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock MuniYield Arizona
Fund, Inc. (NYSE AMEX:MZA)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
A � 09254K208 � July 9, 2009 � 19 � $475,000 B � 09254K307 � July
14, 2009 � 26 � $650,000 C � 09254K406 � July 6, 2009 � 15 �
$375,000
(Represents 3.7% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock California Investment
Quality Municipal Trust, Inc. (NYSE AMEX:RAA)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
W7 � 09247U206 � July 9, 2009 � 36 � $900,000
(Represents 13.2% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock Investment Quality
Municipal Income Trust (NYSE AMEX:RFA)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
R7 � 09247B208 � July 10, 2009 � 102 � $2,550,000
(Represents 35.8% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock New Jersey Investment
Quality Municipal Trust, Inc. (NYSE AMEX:RNJ)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
T7 � 09247C206 � July 8, 2009 � 7 � $175,000
(Represents 2.5% of total outstanding ARPS to be
redeemed)
� � � �
BlackRock New York Investment
Quality Municipal Trust, Inc. (NYSE AMEX:RNY)
Series �
CUSIP �
Redemption Date �
Total Shares to be
Redeemed
�
Aggregate Principal
Amount to be Redeemed
F7 � 09247E202 � July 13, 2009 � 3 � $75,000
(Represents 0.8% of total outstanding ARPS to be
redeemed)
About BlackRock
BlackRock is one of the world�s largest publicly traded
investment management firms. At March 31, 2009, BlackRock�s assets
under management were $1.283 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. The firm is headquartered in New York
City and has employees in 21 countries throughout the U.S., Europe
and Asia Pacific. For additional information, please visit the
firm'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.
The following factors, among others, could cause actual results
to differ materially from forward-looking statements or historical
occurrences: (1) the ability of the BlackRock closed-end funds that
have announced these refinancing plans to implement those plans on
a timely basis; (2) the ability of other BlackRock closed-end funds
that have issued ARPS but that are not announcing a refinancing
plan today to develop and finalize fund-by-fund specific proposals
to restructure the leverage of such funds; (3) the need for such
other BlackRock closed-end funds to obtain formal fund-by-fund
board approval of certain types of specific proposals as they are
developed and finalized; (4) the ability of such other BlackRock
closed-end funds to negotiate and obtain from broker dealers or
other financial institutions the put commitments necessary to make
the ARPS eligible for purchase by money market funds on terms
acceptable to the BlackRock closed-end funds and in a timely
manner; (5) the acceptance by the market, and demand for, ARPS with
a put feature in amounts sufficient for such other BlackRock
closed-end funds to find investors for all or a portion of their
leverage; (6) the need to obtain any necessary regulatory approvals
to make the ARPS eligible for purchase by money market funds or for
the implementation of such other BlackRock closed-end funds� plan
to restructure their leverage; (7) the effects of changes in market
and economic conditions; (8) the impact of legislative and
regulatory actions and reforms and regulatory, supervisory or
enforcement actions of government agencies relating to BlackRock,
Barclays PLC, Bank of America, Merrill Lynch or PNC; (9) other
legal and regulatory developments; and (10) other additional risks
and uncertainties.
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