BlackRock Announces Redemption Of Certain Auction Rate Preferred Shares Issued By BlackRock Closed-End Funds

BlackRock Advisors, LLC today announced redemption details for certain series of auction rate preferred shares (“ARPS”) issued by five BlackRock tax-exempt closed-end funds (the “Funds”). These redemptions, which are being made at the liquidation preference of $25,000 per share (in the case of BHV, BLJ, BPS and BZM) and $50,000 per share (in the case of MHE), together with accrued and unpaid dividends to the redemption date, if any, are being announced in connection with the placement of privately issued preferred shares, as announced on June 14, 2012.

Please see redemption details below.

BlackRock Virginia Municipal Bond Trust (NYSE AMEX:BHV)
        Redemption     Total Shares to     Amount to be
Series     CUSIP     Date     be Redeemed     Redeemed
R-7     092481209     July 6, 2012     467     $11,675,000
 

BlackRock New Jersey Municipal Bond Trust (NYSE AMEX:BLJ)
       

Redemption
    Total Shares to     Amount to be
Series     CUSIP    

Date
    be Redeemed     Redeemed
M-7     09249A208     July 10, 2012     751     $18,775,000
 

The BlackRock Pennsylvania Strategic Municipal Trust (NYSE AMEX:BPS)
     

Redemption
    Total Shares to     Amount to be
Series   CUSIP    

Date
    be Redeemed     Redeemed
W-7   09248R202     July 5, 2012     653     $16,325,000
 

BlackRock Maryland Municipal Bond Trust (NYSE AMEX:BZM)
       

Redemption
    Total Shares to     Amount to be
Series     CUSIP    

Date
    be Redeemed     Redeemed
R-7     09249L204     July 6, 2012     640     $16,000,000
 

The Massachusetts Health & Education Tax-Exempt Trust (NYSE AMEX:MHE)
       

Redemption
    Total Shares to     Amount to be
Series     CUSIP    

Date
    be Redeemed     Redeemed
A7     575672209     June 21, 2012     185     $9,250,000
B7     575672308     June 20, 2012     185     $9,250,000
 

BlackRock will continue to keep market participants and shareholders informed of its closed-end funds’ progress to redeem ARPS via press releases and on BlackRock’s website at www.blackrock.com.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At March 31, 2012, BlackRock’s AUM was $3.684 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, 2012, the firm has approximately 9,900 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 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 the Funds, 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 Funds or in the Funds’ net asset value; (2) the relative and absolute investment performance of the Funds and their 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 Funds 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 Funds; (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.

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