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BlackRock Announces Redemption Of Certain Auction Rate Preferred Shares Issued By BlackRock Closed-End Funds

BlackRock Advisors, LLC today announced the redemption details for certain series of auction rate preferred shares (“ARPS”) issued by fifteen BlackRock tax-exempt closed-end funds (the “Funds”). These redemptions, which are being made at the liquidation preference of $25,000 per share, together with accrued and unpaid dividends to the redemption date, if any, are being announced in connection with the issuance of Variable Rate Muni Term Preferred Shares (“VMTP”) by the Funds, as announced on December 16, 2011.

Please see redemption details below.

BlackRock Municipal Income Investment Quality Trust (NYSE: BAF)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
M-7   09250G201   January 10, 2012   1,691   $42,275,000

BlackRock Municipal Bond Trust (NYSE: BBK)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
R-7   09249H302   January 13, 2012   1,598   $39,950,000
T-7   09249H203   January 11, 2012   1,598   $39,950,000

BlackRock Municipal Income Trust (NYSE: BFK)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
F-7   09248F604   January 9, 2012   2,167   $54,175,000
M-7   09248F208   January 10, 2012   2,167   $54,175,000
R-7   09248F505   January 13, 2012   2,167   $54,175,000
T-7   09248F307   January 11, 2012   2,167   $54,175,000
W-7   09248F406   January 12, 2012   2,167   $54,175,000

The BlackRock Investment Quality Municipal Trust Inc. (NYSE: BKN)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
T-28   09247D303   January 18, 2012   2,234   $55,850,000
T-7   09247D204   January 11, 2012   2,804   $70,100,000

BlackRock Municipal Income Trust II (AMEX: BLE)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
M-7   09249N200   January 10, 2012   1,513   $37,825,000
R-7   09249N507   January 13, 2012   1,513   $37,825,000
T-7   09249N309   January 11, 2012   1,513   $37,825,000
W-7   09249N408   January 12, 2012   1,513   $37,825,000

The BlackRock Strategic Municipal Trust (NYSE: BSD)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
W-7   09248T208   January 12, 2012   1,719   $42,975,000

BlackRock Municipal Income Quality Trust (NYSE: BYM)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
F-7   092479401   January 9, 2012   1,830   $45,750,000
M-7   092479203   January 10, 2012   1,830   $45,750,000
R-7   092479302   January 13, 2012   1,830   $45,750,000

BlackRock MuniYield Investment Quality Fund (NYSE: MFT)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
A-7   09254T209   January 10, 2012   1,884   $47,100,000
B-7   09254T308   January 5, 2012   377   $9,425,000

BlackRock MuniHoldings Fund, Inc. (NYSE: MHD)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
A-7   09253N203   January 11, 2012   1,473   $36,825,000
B-7   09253N302   January 6, 2012   1,473   $36,825,000
C-7   09253N401   January 10, 2012   402   $10,050,000

BlackRock MuniYield Quality Fund II, Inc. (NYSE: MQT)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
A-28   09254G207   January 17, 2012   1,457   $36,425,000
C-7   09254G405   January 9, 2012   1,457   $36,425,000
D-7   09254G504   January 10, 2012   292   $7,300,000

BlackRock MuniHoldings Quality Fund II, Inc. (NYSE: MUE)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
A-7   09254C206   January 6, 2012   1,345   $33,625,000
B-7   09254C305   January 5, 2012   1,345   $33,625,000
C-7   09254C404   January 11, 2012   2,550   $63,750,000

BlackRock MuniHoldings Fund II, Inc. (NYSE: MUH)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
A-7   09253P208   January 11, 2012   1,101   $27,525,000
B-7   09253P307   January 9, 2012   1,101   $27,525,000

BlackRock MuniHoldings Quality Fund, Inc. (NYSE: MUS)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
A-7   09254A200   January 6, 2012   1,740   $43,500,000
B-7   09254A309   January 10, 2012   1,740   $43,500,000

BlackRock MuniVest Fund, Inc. (AMEX: MVF)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
A-28   09253R204   January 9, 2012   1,460   $36,500,000
B-28   09253R303   January 17, 2012   1,460   $36,500,000
D-28   09253R501   January 3, 2012   1,460   $36,500,000
E-7   09253R600   January 3, 2012   2,190   $54,750,000
F-7   09253R709   January 11, 2012   1,723   $43,075,000

BlackRock MuniVest Fund II, Inc. (NYSE: MVT)

      Shares to be   Amount to be
Series   CUSIP   Redemption Date   Redeemed   Redeemed
A-28   09253T200   January 12, 2012   1,440   $36,000,000
C-7   09253T408   January 12, 2012   1,440   $36,000,000
D-7   09253T507   January 10, 2012   1,280   $32,000,000

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.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At September 30, 2011, BlackRock’s AUM was $3.345 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 September 30, 2011, the firm had approximately 10,200 employees in 27 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.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.

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