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BlackRock Announces Key Leadership Appointments

Mr. Shedlin joins BlackRock from Morgan Stanley, where he is Vice Chairman, Investment Banking and a Managing Director in the Financial Institutions Group. Mr. Shedlin has spent more than 25 years advising companies in the financial services sector including as Chairman of the Financial Institutions Group at Citigroup and Managing Director and Co-Head of the Financial Institutions Group at Lazard.

Mr. Shedlin has served as a trusted advisor to BlackRock on virtually all of its most significant strategic transactions. As Chief Financial Officer, he will be responsible for all of BlackRock’s Corporate Finance functions including Business Finance; Accounting; Finance Operations; Tax, Treasury and Risk Management; and Investment Products & Controls. He also will be responsible for Investor Relations and Corporate Development as well as Strategy, which has a co-report to Mr. Fink.

“Given his strategic insight and leadership ability, Gary is well positioned to build on the world-class finance organization that Ann Marie has helped to establish, and I am delighted to welcome him to BlackRock. Gary has an intimate knowledge of BlackRock and knows our industry well. I am confident that he will lead our finance operations as a partner in driving our business through our next phase of disciplined growth,” Mr. Fink said.

Mr. Shedlin said: “It has been a privilege to be part of Morgan Stanley and to work closely with Larry and other senior executives at BlackRock as the Firm has evolved to meet the needs of clients. I am tremendously excited to now be a part of this very talented management team and to help contribute to BlackRock’s continued success in leveraging the unique, global asset management platform it has built.”

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2012, BlackRock’s AUM was $3.792 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, 2012, the firm has approximately 10,500 employees in 30 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 Company's website at www.blackrock.com.

Forward-looking Statements

This report, 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” and similar expressions.

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