BlackRock Enhanced Government Fund, Inc. Announces Estimated Sources Of Distributions

Today, BlackRock Enhanced Government Fund, Inc. (NYSE:EGF) (the "Fund") announced that the Fund paid the following dividend per share:
Fund       Pay Date       Per Share
EGF       January 9, 2018       $0.041000

The Fund has adopted a level distribution plan, consistent with its investment objective and policies, to support a level distribution of income, capital gains, and/or return of capital (the "Plan"). The fixed amount distributed per share is subject to change at the discretion of the Fund's Board of Directors. Under the Plan, the Fund will distribute all available investment income to its shareholders, consistent with its investment objective and as required by the Internal Revenue Code of 1986, as amended. If sufficient investment income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return capital to its shareholders in order to maintain a level distribution.

The Fund's estimated sources of the distributions paid as of January 9, 2018 and for its fiscal year 2017 are as follows:
Estimated Allocations as of January 9, 2018                        
Fund       Distribution      

Net InvestmentIncome
     

Net RealizedShort-TermGains
     

Net RealizedLong-TermGains
      Return of Capital
EGF 1       $0.041000       $0.008571 (21%)       $0 (0%)       $0 (0%)       $0.032429 (79%)
                             
Estimated Allocations for Fiscal Year 2017        
Fund       Distribution      

Net InvestmentIncome
     

Net RealizedShort-TermGains
     

Net RealizedLong-TermGains
      Return of Capital
EGF 1       $0.492000       $0.278998 (57%)       $0 (0%)       $0 (0%)       $0.213002 (43%)

1The Fund estimates that it has distributed more than its income and net-realized capital gains in the current fiscal year; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder's investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'. When distributions exceed total return performance, the difference will reduce the Fund's net asset value per share.

The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Fund Performance and Distribution Rate Information:        
Fund      

Average annualtotal return (inrelation to net assetvalue ("NAV") forthe 5-year periodending on11/30/2017
     

Annualized currentdistribution rateexpressed as apercentage of NAVas of 11/30/2017
     

Cumulative totalreturn (in relation toNAV) for the fiscalyear through11/30/2017
     

Cumulative fiscalyear distributions asa percentage of NAVas of 11/30/2017
EGF       1.53%       3.53%       3.83%       3.24%

Shareholders should not draw any conclusions about the Fund's investment performance from the amount of the Fund's current distributions or from the terms of the Plan.

About BlackRock

BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of September 30, 2017, the firm manages approximately $5.977 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com | Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock

Availability of Fund Updates

BlackRock will update performance and certain other data for the Fund on a monthly basis on its website in the "Closed-end Funds" section of www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Fund. This reference to BlackRock's website is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate BlackRock's website in this release.

Forward-Looking Statements

This press release, and other statements that BlackRock or the Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund's 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.

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 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 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) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.

Annual and Semi-Annual Reports and other regulatory filings of the Fund 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 Fund. The information contained on BlackRock's website is not a part of this press release.

View source version on businesswire.com: http://www.businesswire.com/news/home/20180109006758/en/

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