The BlackRock Closed-End Funds (each a "Fund" and collectively, the "Funds") announced today that Mr. Michael J. Castellano has been appointed by the Board of Directors/Trustees of each Fund to serve as an independent director/trustee of each of the Funds, effective April 14, 2011. In addition, Mr. Castellano was appointed to the Audit Committee of each of the Funds.
Mr. Castellano served as Chief Financial Officer of Lazard from August 2001 until his retirement at the end of March 2011. Prior to joining Lazard, Mr. Castellano held various senior management positions at Merrill Lynch & Co. and was a partner with Deloitte & Touche where he served a number of investment banking clients for 24 years.
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2010, BlackRock’s AUM was $3.561 trillion. BlackRock offers products that span the risk spectrum to meet clients’ needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares ® (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions ® . Headquartered in New York City, as of December 31, 2010, the firm has approximately 9,100 employees in 25 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the firm’s website at www.blackrock.comForward-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.
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