BlackRock Announces Changes To Names For Certain Of Its Closed-End Funds

BlackRock Advisors, LLC today announced changes to the names of BlackRock Dividend Achievers TM Trust (NYSE:BDV), BlackRock Strategic Dividend Achievers TM Trust (NYSE:BDT) and BlackRock Enhanced Dividend Achievers TM Trust (NYSE:BDJ) (collectively, the “Funds”). The name changes were made in connection with the changes to certain non-fundamental investment policies of the Funds that were previously announced on March 9, 2011. The name changes are as follows:
Prior Name           Ticker         New Name
BlackRock Dividend AchieversTM Trust           BDV         BlackRock Equity Dividend Trust
BlackRock Strategic Dividend AchieversTM Trust           BDT         BlackRock Strategic Equity Dividend Trust
BlackRock Enhanced Dividend AchieversTM Trust           BDJ         BlackRock Enhanced Equity Dividend Trust

Pursuant to the changes announced on March 9, 2011, the Funds will no longer use Mergent, Inc.’s Dividend Achievers TM as the underlying universe for investment in equity securities. Instead, each Fund will broaden its investment guidelines to investing across the broader spectrum of dividend paying equities.

In addition, each Fund also amended its restriction on other eligible investments. Previously, the Funds were restricted to investing, under normal market conditions, no more than 20% of their total assets in equity securities that are not identified as Dividend Achievers TM by Mergent. Similar to the 80% policy change, the amended policy allows the Funds to invest, under normal market conditions, up to 20% in equity securities of issuers that do not pay dividends. Each Fund also removed investment policies limiting the market cap, position size or number of holdings permitted in such Fund. These changes are outlined in more detail in the March 9, 2011 press release.

As disclosed in its prospectus, each Fund was required to provide shareholders 60 days notice of a change to its current non-fundamental policies described above. This 60 day notice period ends on May 9, 2011, after which the new policies will take effect. Each Fund will continue to trade on the New York Stock Exchange under its current ticker.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At March 31, 2011, BlackRock’s assets under management were $3.648 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 March 31, 2011, the firm has approximately 9,300 employees in 26 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.

BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

With respect to each Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund’s net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the recently approved Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) BlackRock’s success in maintaining secondary market support for the Fund; (11) the impact of BlackRock electing to provide support to its products from time to time; (12) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions; and (13) the ability of BlackRock to integrate the operations of Barclays Global Investors.

The Annual and Semi-Annual Reports and other regulatory filings of the Funds with the Securities and Exchange Commission (“SEC”) are accessible on the SEC's website at www.sec.gov and on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Funds. The information contained on BlackRock’s website is not a part of this press release.

Copyright Business Wire 2010

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