The BlackRock closed-end funds listed below (the “Funds”) announced today their dividend dates and distributions.

Several of the taxable fixed income Funds announced dividend reductions. With respect to BlackRock Diversified Income Strategies Fund (NYSE:DVF), BlackRock Debt Strategies Fund (NYSE:DSU), BlackRock Limited Duration Income Trust (NYSE:BLW), BlackRock Senior High Income Fund (NYSE:ARK), BlackRock Defined Opportunity Credit Trust (NYSE:BHL), BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) and BlackRock Floating Rate Income Strategies Fund II (NYSE:FRB), these dividend reductions take into account the Funds’ earnings potential and the decreasing interest rates on floating rate securities held by the Funds.

With respect to BlackRock High Yield Trust (NYSE:BHY), BlackRock Strategic Bond Trust (NYSE:BHD), BlackRock Preferred Opportunity Trust (NYSE:BPP), BlackRock Preferred Income Strategies Fund (NYSE:PSY) and BlackRock Preferred & Corporate Income Strategies Fund (NYSE:PSW), these dividend reductions take into account each Fund’s earnings potential and net asset value decline in light of the current market environment for high yield bonds and preferred stock.

Details are as follows:

^*In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, as amended, each of the Funds noted above posted to the DTC bulletin board and sent to their shareholders as of the applicable record date a Section 19 notice with the previous dividend payment. The Section 19 notice was provided not for tax reporting purposes but for informational purposes only. This information can be found in the “Closed-End Funds” section of www.blackrock.com. If applicable, the final determination of the source and tax characteristics of all distributions in 2009 will be made after the end of the year.

About BlackRock

BlackRock is one of the world’s largest publicly traded investment management firms. At December 31, 2008, BlackRock’s assets under management were $1.307 trillion. The firm manages assets on behalf of institutions and individuals worldwide through a variety of equity, fixed income, cash management and alternative investment products. In addition, a growing number of institutional investors use BlackRock Solutions^® investment system, risk management and financial advisory services. The firm is headquartered in New York City and has employees in 22 countries throughout the U.S., Europe and Asia Pacific. 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 in political, economic or industry conditions, the interest rate environment or financial and capital markets, which could result in changes in the Fund’s net asset value; (2) the performance of the Fund’s investments; (3) the impact of increased competition; (4) the extent and timing of any distributions or share repurchases; (5) the impact of legislative and regulatory actions and reforms and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or BlackRock, as applicable; and (6) BlackRock’s ability to attract and retain highly talented professionals.

The Annual and Semi-Annual Reports and other regulatory filings of the Funds with the 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 our website is not a part of this press release.

BlackRock Closed End Funds:
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