The BlackRock registered closed-end funds (each a "Fund" and collectively, the "Funds") announced today that Mr. John F. Powers has been appointed by the Board of Directors/Trustees of each Fund to serve as an independent director/trustee of each of the Funds (and as a Class II director/trustee of those Funds that have classified Boards), effective January 3, 2012. Mr. Powers is the President and CEO of Stanford Management Company – a $16.5 billion endowment of Stanford University. Mr. Powers was previously the managing director and the director of research at Offit Hall Capital Management. Prior to Offit Hall, he was the director of institutional sales and research and served as a member of the executive committee at Robertson Stephens, a San Francisco investment bank. 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.