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Certain BlackRock Closed-End Funds Announce Estimated Sources Of Distributions

BlackRock Global Opportunities Equity Trust (NYSE:BOE), BlackRock S&P Quality Rankings Global Equity Managed Trust (NYSE AMEX:BQY), BlackRock Enhanced Government Fund, Inc. (NYSE:EGF) and BlackRock Utility and Infrastructure Trust (NYSE:BUI) (the “Funds”) today paid the following dividends per share:

             
Ticker     Pay Date     Per Share
EGF     February 29, 2012     $0.070000
BOE     February 29, 2012     $0.568750
BQY     February 29, 2012     $0.250000
BUI     February 29, 2012     $0.362500
       

Each of the Funds has adopted a level distribution plan (the “Plan”) and employs either a managed distribution or an option over-write policy to support a level distribution of income, capital gains and/or return of capital. The fixed amounts distributed per share are subject to change at the discretion of each Fund’s Board. Under its Plan, each Fund will distribute all available investment income to its shareholders, consistent with its primary investment objectives and as required by the Internal Revenue Code of 1986, as amended. If sufficient investment income is not available on a quarterly/monthly basis, the Funds will distribute long-term capital gains and or return capital to their shareholders in order to maintain a level distribution.

The Funds’ estimated sources of the distributions paid this month and for their current fiscal years are as follows:

   
Estimated Allocations as of February 29, 2012      
Fund     Distribution    

Net InvestmentIncome

   

Net RealizedShort-TermGains

   

Net RealizedLong-TermGains

   

Return ofCapital

EGF     $0.070000     $0.070000 (100%)     $0 (0%)     $0 (0%)     $0 (0%)
BOE 1     $0.568750     $0.015771 (3%)     $0 (0%)     $0 (0%)    

$0.552979(97%)

BQY     $0.250000     $0.046933 (19%)    

$0.085811(34%)

   

$0.117256(47%)

    $0 (0%)
BUI 1     $0.362500     $0.074969 (21%)    

$0.006030(2%)

    $0 (0%)    

$0.281501(77%)

               
 
Estimated Allocations for the Fiscal Year Through February 29, 2012      
Fund     Distribution    

Net InvestmentIncome

   

Net RealizedShort-TermGains

   

Net RealizedLong-TermGains

   

Return ofCapital

EGF     $0.070000     $0.070000 (100%)     $0 (0%)     $0 (0%)     $0 (0%)
BOE 1     $1.137500     $0.034400 (3%)     $0 (0%)     $0 (0%)    

$1.103100(97%)

BQY     $0.770000     $0.067900 (9%)    

$0.572900(74%)

   

$0.129200(17%)

    $0 (0%)
BUI 1     $0.362500     $0.074969 (21%)    

$0.006030(2%)

    $0 (0%)    

$0.281501(77%)

 

1The Fund estimates that it has distributed more than its income and net-realized capital gains in the current fiscal year; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect a Fund's investment performance and should not be confused with ‘yield’ or ‘income’.

The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Funds will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

 
Fund Performance and Distribution Rate Information:
Fund    

Average annualtotal return (inrelation to NAV)for the 5-yearperiod ending on1/31/2012

   

Annualized currentdistribution rateexpressed as apercentage of NAV asof 1/31/2012

   

Cumulative totalreturn (in relation toNAV) for the fiscalyear through1/31/2012

   

Cumulative fiscalyear distributions asa percentage ofNAV as of1/31/2012 3

EGF     4.82%     5.16%     0.12%     0.43%
BOE     1.39%     14.29%     3.32%     3.57%
BQY     (0.04)%     7.42%     3.27%     3.86%
BUI 2     16.08%     7.39%     2.77%     0.00%
               

2Portfolio launched within the past 5 years; this represents the average annual total return (in relation to NAV) from inception to 01/31/2012.

3The first distribution since inception for BUI took place in February 2012.

Shareholders should not draw any conclusions about a Fund’s investment performance from the amount of the Fund’s current distributions or from the terms of the Fund’s Plan.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2011, BlackRock’s AUM was $3.513 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, 2011, the firm has approximately 10,100 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 BlackRock's website at www.blackrock.com.

Forward-Looking Statements

This press release, and other statements that BlackRock or the Funds may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Funds’ or 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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