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Certain BlackRock Closed-End Funds Announce Estimated Sources Of Distributions

Today, BlackRock Real Asset Equity Trust (NYSE: BCF), BlackRock Resources & Commodities Strategy Trust (NYSE: BCX), BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ), BlackRock Energy and Resources Trust (NYSE: BGR), BlackRock International Growth and Income Trust (NYSE: BGY), BlackRock Health Sciences Trust (NYSE: BME), BlackRock EcoSolutions Investment Trust (NYSE: BQR), BlackRock Enhanced Capital and Income Fund, Inc. (NYSE: CII) and BlackRock Enhanced Government Fund, Inc. (NYSE: EGF) (collectively, the “Funds”) paid the following dividends per share:

Fund       Pay Date       Per Share
BCF       June 29, 2012       $0.271800
BCX       June 29, 2012       $0.350000
BDJ       June 29, 2012       $0.170000
BGR       June 29, 2012       $0.405000
BGY       June 29, 2012       $0.220000
BME       June 29, 2012       $0.384375
BQR       June 29, 2012       $0.235000
CII       June 29, 2012       $0.360000
EGF       June 29, 2012       $0.070000
           

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 of Trustees. 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 June 29, 2012                
            Net Investment       Net Realized Short-       Net Realized      
Fund       Distribution       Income       Term Gains       Long-Term Gains       Return of Capital
BCF 1       $0.271800       $0.042094 (15%)       $0.170420 (63%)       $0.032620 (12%)       $0.026666 (10%)
BCX 1       $0.350000       $0.061513 (18%)       $0 (0%)       $0 (0%)       $0.288487 (82%)
BDJ 1       $0.170000       $0.046421 (27%)       $0 (0%)       $0 (0%)       $0.123579 (73%)
BGR       $0.405000       $0.040631 (10%)       $0.364369 (90%)       $0 (0%)       $0 (0%)
BGY 1       $0.220000       $0.095328 (43%)       $0 (0%)       $0 (0%)       $0.124672 (57%)
BME       $0.384375       $0.039921 (10%)       $0.329463 (86%)       $0.014991 (4%)       $0 (0%)
BQR 1       $0.235000       $0.029631 (13%)       $0 (0%)       $0 (0%)       $0.205369 (87%)
CII 1       $0.360000       $0.042911 (12%)       $0 (0%)       $0 (0%)       $0.317089 (88%)
EGF 1       $0.070000       $0.057529 (82%)       $0 (0%)       $0 (0%)       $0.012471 (18%)
 
Estimated Allocations for the fiscal year through June 29, 2012
            Net Investment      

Net Realized

      Net Realized      
Fund       Distribution       Income      

Short-Term Gains

      Long-Term Gains       Return of Capital
BCF 1       $0.815400       $0.087318 (11%)       $0.171673 (21%)       $0.093443 (11%)       $0.462966 (57%)
BCX 1       $1.050000       $0.111678 (11%)       $0 (0%)       $0 (0%)       $0.938322 (89%)
BDJ 1       $0.510000       $0.085445 (17%)       $0 (0%)       $0 (0%)       $0.424555 (83%)
BGR       $1.363000       $0.107406 (8%)       $1.255594 (92%)       $0 (0%)       $0 (0%)
BGY 1       $0.780000       $0.128972 (17%)       $0 (0%)       $0 (0%)       $0.651028 (83%)
BME       $2.116125       $0.100519 (5%)       $0.806145 (38%)       $1.209461 (57%)       $0 (0%)
BQR 1       $0.705000       $0.043997 (6%)       $0 (0%)       $0 (0%)       $0.661003 (94%)
CII 1       $1.080000       $0.241830 (22%)       $0 (0%)       $0 (0%)       $0.838170 (78%)
EGF 1       $0.350000       $0.312126 (89%)       $0 (0%)       $0 (0%)       $0.037874 (11%)
 

1The Fund estimates that it has distributed more than its income and 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 Fund 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:
Trust      

Average annual

total return (in

relation to NAV)

for the 5-year

period ending on

05/31/2012

     

Annualized current

distribution rate

expressed as a

percentage of NAV as

of 05/31/2012

     

Cumulative

total return

(in relation to

NAV) for the

fiscal year

through

05/31/2012

     

Cumulative

fiscal year

distributions as

a percentage of

NAV as of

05/31/2012

BCF       (1.76)%       10.42%       (12.23)%       5.21%
BCX *       (16.01)%       9.87%       (11.56)%       4.93%
BDJ       (1.49)%       8.44%       5.08%       4.22%
BGR       0.22%       6.82%       (12.99)%       4.03%
BGY *       (3.97)%       11.40%       (4.76)%       7.25%
BME       6.38%       5.75%       6.87%       6.48%
BQR *       (5.37)%       10.78%       (2.00)%       5.39%
CII       1.32%       10.52%       4.23%       5.26%
EGF       5.08%       5.17%       1.78%       1.72%

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

Stock quotes in this article: BCF, BCX, BDJ, BGR, BGY, BME, BQR, CII, EGF 

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