With consideration of these unique factors in the context of each Term Trust’s portfolio and current and projected market conditions, BlackRock and the Boards currently intend to provide liquidity to ARPS holders from time-to-time over the remaining term of each Term Trust consistent with the best interest of each Term Trust and its shareholders. The amount and timing of such liquidity will likely differ for each Term Trust and are expected to be influenced by, among other factors, the amount and timing of securities that mature at par and securities that are called by their issuers prior to their maturity dates. BlackRock and the Boards continue to actively evaluate options to provide liquidity to ARPS holders and may in the future continue to determine to provide liquidity in advance of a Term Trust’s scheduled maturity date, although there is no guarantee that liquidity will be provided for all or a portion of a particular Term Trust’s ARPS before such time. If liquidity for ARPS is not provided sooner, each Term Trust will provide liquidity for all ARPS then outstanding at its respective maturity.Since February 2008, BlackRock and the Boards have been able to provide liquidity of ARPS totaling approximately $9.47 billion across taxable and tax-exempt closed-end funds (approximately 96.4% of the total ARPS then-outstanding). BlackRock will continue to keep market participants and shareholders informed of each Term Trust’s progress to provide liquidity for 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 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 BlackRock’s website at www.blackrock.com. Forward-Looking Statements This press release, and other statements that BlackRock or the Term Trusts may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Term Trusts or 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.