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BlackRock Announces Board Approval Of Reorganizations Of Three Equity Closed-End Funds

BlackRock Advisors, LLC announced today that the Boards of Trustees of each of BlackRock Equity Dividend Trust (NYSE:BDV), BlackRock Strategic Equity Dividend Trust (NYSE:BDT) and BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) approved the reorganization of BDV and BDT into BDJ, with BDJ being the surviving fund (the “Reorganizations”).

It is currently expected that the Reorganizations will be completed in the first quarter of 2012, subject to requisite shareholder approvals and all regulatory requirements and customary closing conditions being satisfied.

Additional Information about the Proposed Reorganizations and Where to Find It

This press release is not intended to, and shall not, constitute an offer to purchase or sell shares of any of the funds; nor is this press release intended to solicit a proxy from any shareholder of any of the funds. The solicitation of the purchase or sale of securities or of proxies to effect each reorganization may only be made by a final, effective Registration Statement, which includes a definitive Joint Proxy Statement/Prospectus, after the Registration Statement is declared effective by the Securities and Exchange Commission (“SEC”).

This press release references a Registration Statement, which includes a Joint Proxy Statement/Prospectus, to be filed by the funds. This Registration Statement has yet to be filed with the SEC. After the Registration Statement is filed with the SEC, it may be amended or withdrawn and the Joint Proxy Statement/Prospectus will not be distributed to shareholders of the funds unless and until the Registration Statement is declared effective by the SEC.

The funds and their respective trustees, officers and employees, and BlackRock, and its shareholders, officers and employees and other persons may be deemed to be participants in the solicitation of proxies with respect to these proposed reorganizations. Investors and shareholders may obtain more detailed information regarding the direct and indirect interests of the funds' respective trustees, officers and employees, and BlackRock and its shareholders, officers and employees and other persons by reading the Joint Proxy Statement/Prospectus regarding the proposed reorganizations when it is filed with the SEC.

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