Under the terms of the Repurchase Offer, the Fund is offering to purchase up to 5% of its Shares from stockholders at an amount per Share equal to the Fund's net asset value ("NAV") per Share calculated as of the close of business of the New York Stock Exchange on December 11, 2009, less a repurchase fee of 2% of the value of the Shares repurchased. The Repurchase Offer is scheduled to expire on November 27, 2009, unless extended, with payment for the Shares repurchased to be made on or before December 18, 2009.

The Fund has established a record date of October 9, 2009 solely for the purpose of identifying stockholders eligible to receive Repurchase Offer materials.

The Fund is a diversified, closed-end management investment company. The Fund's primary investment objective is to provide stockholders with current income and gains. The Shares have at times traded at a premium to the Fund's NAV per share. It may not be in a shareholder's interest to tender Shares in connection with this repurchase offer if the Shares are trading at a premium. The market price of the Shares can and does fluctuate. Accordingly, on December 11, 2009, the pricing date of the repurchase offer, the market price of the Shares may be above or below the Fund's NAV per share.

None of the Fund, its investment adviser or its Board of Directors is making any recommendation to any stockholder as to whether to tender or refrain from tendering Shares in the Repurchase Offer.

For client-specific information regarding the Repurchase Offer, please contact your broker or financial advisor, or in the case of registered stockholders, The Bank of New York Mellon, which will act as the Depositary Agent in connection with the Repurchase Offer.

About BlackRock

BlackRock is one of the world's largest publicly traded investment management firms. At June 30, 2009, BlackRock's assets under management were $1.373 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 21 countries throughout the U.S., Europe and Asia Pacific.