EEF Blackrock Enhanced EQ Yld Fd

Certain BlackRock closed-end funds announced distributions today as detailed below. Several of the municipal closed-end funds announced dividend reductions, which take into account the funds� earning potential and level of undistributed net investment income. For several of the funds with dividend reductions, large undistributed net investment income balances have allowed the funds to pay out distributions greater than their earnings. These dividend reductions were made in order to better align the funds with their current earnings rates. BlackRock Insured Municipal 2008 Term Trust, Inc. (NYSE:BRM), BlackRock California Insured Municipal 2008 Term Trust, Inc. (NYSE:BFC), BlackRock Florida Insured Municipal 2008 Term Trust (NYSE:BRF), and BlackRock New York Insured Municipal 2008 Term Trust, Inc. (NYSE:BLN) are among the municipal closed-end funds reducing dividends. BRM, BFC, BRF and BLN are term trusts maturing in December 2008. These dividend reductions reflect the funds� projected earnings potential as well as the funds� primary objective of returning initial offering price to investors at maturity. In terms of taxable funds, BlackRock Senior High Income Fund, Inc. (NYSE:ARK), BlackRock Global Floating Rate Income Trust (NYSE:BGT), BlackRock Limited Duration Income Trust (NYSE:BLW), and BlackRock Diversified Income Strategies Fund, Inc. (NYSE:DVF) announced dividend reductions. These dividend reductions take into account the funds� earnings potential and the effect of decreasing interest rates on floating rate securities held by the funds. BlackRock Preferred and Equity Advantage Trust (NYSE:BTZ) also announced a dividend reduction. This reduction takes into account the Trust�s earnings potential and the current market environment for preferreds and equities. Given these factors and the portfolio management team�s views, the portfolio is reallocating a portion of its assets away from equities and into preferreds in an attempt to better meet the Trust�s investment objective of seeking current income, current gains and capital appreciation. Details are as follows: Municipal Funds: Declaration- 6/2/2008 � Ex-Date- 6/12/2008 � Record- 6/16/2008 � Payable- 7/1/2008 National Funds � Ticker � Dividend � Change From Prior Month � BlackRock Apex Municipal Fund, Inc. APX $0.046500 - BlackRock Insured Municipal 2008 Term Trust, Inc. BRM $0.025500 -$0.022000 BlackRock Insured Municipal Income Trust BYM $0.061000 - BlackRock Insured Municipal Term Trust, Inc. BMT $0.030417 - BlackRock Long-Term Municipal Advantage Trust BTA $0.055000 - BlackRock Muni Intermediate Duration Fund, Inc. MUI $0.058000 -$0.003000 BlackRock MuniAssets Fund, Inc. MUA $0.067500 - BlackRock Municipal 2018 Term Trust BPK $0.075500 - BlackRock Municipal 2020 Term Trust BKK $0.062250 - BlackRock Municipal Bond Trust BBK $0.072500 -$0.004000 BlackRock Municipal Income Trust BFK $0.068600 -$0.008900 BlackRock Municipal Income Trust II BLE $0.066000 -$0.005000 BlackRock MuniEnhanced Fund, Inc. MEN $0.043000 - BlackRock MuniHoldings Fund II, Inc. MUH $0.063000 - BlackRock MuniHoldings Fund, Inc. MHD $0.071000 - BlackRock MuniHoldings Insured Fund II, Inc. MUE $0.050000 - BlackRock MuniHoldings Insured Fund, Inc. MUS $0.048500 - BlackRock MuniVest Fund II, Inc. MVT $0.071000 - BlackRock MuniVest Fund, Inc. MVF $0.043000 - BlackRock MuniYield Fund, Inc. MYD $0.064000 -$0.004000 BlackRock MuniYield Insured Fund, Inc. MYI $0.056000 - BlackRock MuniYield Quality Fund II, Inc. MQT $0.050000 - BlackRock MuniYield Quality Fund, Inc. MQY $0.057000 - The BlackRock Investment Quality Municipal Trust, Inc. BKN $0.063000 -$0.017000 The BlackRock Strategic Municipal Trust BSD $0.062500 -$0.012500 State-Specific Funds � Ticker � Dividend � Change From Prior Month � BlackRock California Insured Municipal 2008 Term Trust, Inc. BFC $0.027500 -$0.025000 BlackRock California Insured Municipal Income Trust BCK $0.056000 -$0.002000 BlackRock California Municipal 2018 Term Trust BJZ $0.061250 - BlackRock California Municipal Bond Trust BZA $0.062000 -$0.015000 BlackRock California Municipal Income Trust BFZ $0.068200 -$0.007874 BlackRock California Municipal Income Trust II BCL $0.057000 -$0.008500 BlackRock MuniHoldings California Insured Fund, Inc. MUC $0.053000 -$0.002500 BlackRock MuniYield California Fund, Inc. MYC $0.055000 - BlackRock MuniYield California Insured Fund, Inc. MCA $0.053500 -$0.002500 The BlackRock California Investment Quality Municipal Trust, Inc. RAA $0.046500 -$0.001500 BlackRock Florida Insured Municipal 2008 Term Trust BRF $0.005000 -$0.015000 BlackRock Florida Insured Municipal Income Trust BAF $0.058000 - BlackRock Florida Municipal 2020 Term Trust, Inc. BFO $0.051000 - BlackRock Florida Municipal Bond Trust BIE $0.068800 -$0.009008 BlackRock Florida Municipal Income Trust BBF $0.072875 - BlackRock MuniHoldings Florida Insured Fund MFL $0.055500 - BlackRock MuniYield Florida Fund MYF $0.058000 - BlackRock MuniYield Florida Insured Fund MFT $0.053500 - The BlackRock Florida Investment Quality Municipal Trust RFA $0.044500 - BlackRock Maryland Municipal Bond Trust BZM $0.065400 -$0.005950 BlackRock Muni New York Intermediate Duration Fund, Inc. MNE $0.053000 - BlackRock MuniHoldings New York Insured Fund, Inc. MHN $0.053000 -$0.001500 BlackRock MuniYield New York Insured Fund, Inc. MYN $0.052500 -$0.001500 BlackRock New York Insured Municipal 2008 Term Trust, Inc. BLN $0.027500 -$0.017500 BlackRock New York Insured Municipal Income Trust BSE $0.058000 - BlackRock New York Municipal 2018 Term Trust, Inc. BLH $0.068750 - BlackRock New York Municipal Bond Trust BQH $0.068000 -$0.009099 BlackRock New York Municipal Income Trust BNY $0.075339 - BlackRock New York Municipal Income Trust II BFY $0.062500 - The BlackRock New York Investment Quality Municipal Trust, Inc. RNY $0.058200 -$0.008800 BlackRock MuniHoldings New Jersey Insured Fund, Inc. MUJ $0.053000 - BlackRock MuniYield New Jersey Fund, Inc. MYJ $0.058000 - BlackRock MuniYield New Jersey Insured Fund, Inc. MJI $0.054000 - BlackRock New Jersey Municipal Bond Trust BLJ $0.070500 -$0.008082 BlackRock New Jersey Municipal Income Trust BNJ $0.077600 -$0.002025 The BlackRock New Jersey Investment Quality Municipal Trust RNJ $0.051400 -$0.016600 BlackRock MuniYield Arizona Fund, Inc. MZA $0.057000 - BlackRock MuniYield Michigan Insured Fund II, Inc. MYM $0.054000 -$0.002000 BlackRock MuniYield Michigan Insured Fund, Inc. MIY $0.054000 -$0.005000 BlackRock MuniYield Pennsylvania Insured Fund MPA $0.053000 -$0.003000 The BlackRock Pennsylvania Strategic Municipal Trust BPS $0.045000 -$0.015000 BlackRock Virginia Municipal Bond Trust BHV $0.072428 - Massachusetts Health & Education Tax-Exempt Trust MHE $0.049000 - Taxable Funds: Declaration- 6/2/2008 � Ex-Date- 6/12/2008 � Record- 6/16/2008 � Payable- 6/30/2008 Fund � Ticker � Dividend � Change From Prior Month � BlackRock Senior High Income Fund, Inc.* ARK $0.040000 -$0.007000 The BlackRock Broad Investment Grade 2009 Term Trust, Inc. BCT $0.049000 - BlackRock Global Floating Rate Income Trust BGT $0.105000 -$0.020000 BlackRock Strategic Bond Trust BHD $0.077000 - BlackRock Core Bond Trust BHK $0.062000 - BlackRock Defined Opportunity Credit Trust* BHL $0.112500 - The BlackRock High Yield Trust BHY $0.051000 - The BlackRock Income Trust, Inc. BKT $0.024000 - BlackRock Limited Duration Income Trust* BLW $0.105000 -$0.020000 BlackRock Income Opportunity Trust, Inc. BNA $0.051000 - BlackRock Preferred Opportunity Trust* BPP $0.125000 - BlackRock Preferred and Equity Advantage Trust* BTZ $0.130000 -$0.026250 BlackRock Corporate High Yield Fund, Inc. COY $0.061000 - BlackRock Corporate High Yield Fund III, Inc. CYE $0.060000 - BlackRock Debt Strategies Fund, Inc. DSU $0.053000 - BlackRock Diversified Income Strategies Fund, Inc. DVF $0.135000 -$0.015000 BlackRock Enhanced Government Fund, Inc. EGF $0.105000 - BlackRock Floating Rate Income Strategies Fund, Inc. FRA $0.124835 - BlackRock Floating Rate Income Strategies Fund II, Inc. FRB $0.123350 - BlackRock High Income Shares HIS $0.018200 - BlackRock Corporate High Yield Fund VI, Inc. HYT $0.100000 - BlackRock Corporate High Yield Fund V, Inc. HYV $0.100000 - BlackRock Preferred and Corporate Income Strategies Fund, Inc. PSW $0.103300 - BlackRock Preferred Income Strategies Fund, Inc.* PSY $0.114583 - Equity Funds: Declaration- 6/2/2008 � Ex-Date- 6/12/2008 � Record- 6/16/2008 � Payable- 6/30/2008 Fund � Ticker � Dividend � Change From Prior Dividend � � BlackRock Real Asset Equity Trust* BCF $0.090600 - BlackRock Enhanced Dividend AchieversTM Trust* BDJ $0.101875 - BlackRock Strategic Dividend AchieversTM Trust* BDT $0.225000 - BlackRock Dividend AchieversTM Trust* BDV $0.225000 - BlackRock Global Energy and Resources Trust* BGR $0.375000 - BlackRock International Growth and Income Trust* BGY $0.151700 - BlackRock Health Sciences Trust* BME $0.384375 - BlackRock EcoSolutions Investment Trust* BQR $0.400000 - BlackRock World Investment Trust* BWC $0.113750 - BlackRock Enhanced Capital and Income Fund, Inc.* CII $0.485000 - BlackRock Enhanced Equity Yield & Premium Fund, Inc.* ECV $1.025000 - BlackRock Enhanced Equity Yield Fund, Inc.* EEF $0.500000 - Capital Gains: Declaration- 6/2/2008 � Ex-Date- 6/12/2008 � Record- 6/16/2008 � Payable- 7/1/2008 Fund � Ticker � Long-Term Capital Gain � BlackRock Insured Municipal Term Trust, Inc. BMT $0.000188 *In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, as amended, the funds noted posted a Section 19 notice to the DTC bulletin board and sent out to their registered shareholders a Section 19 notice with the�previous dividend payment.�This notice was not for tax reporting purposes and was provided only for informational purposes. This information can be found in the �Closed-End Funds� section of www.blackrock.com. About BlackRock BlackRock is one of the world�s largest publicly traded investment management firms. At March 31, 2008, BlackRock�s AUM was $1.364 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. Headquartered in New York City, as of March 31, 2008, the firm has approximately 5,600 employees in 19 countries and a major presence in key global markets, including the U.S., Europe, Asia, Australia and the Middle East. For additional information, please visit the Company'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. The following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) the introduction, withdrawal, success and timing of business initiatives and strategies; (2) changes in political, economic or industry conditions, the interest rate environment or financial and capital markets, which could result in changes in demand for products or services or in the value of assets under management; (3) the relative and absolute investment performance of BlackRock�s investment products; (4) the impact of increased competition; (5) the impact of future acquisitions or divestitures; (6) the unfavorable resolution of legal proceedings; (7) the extent and timing of any share repurchases; (8) the impact, extent and timing of technological changes and the adequacy of intellectual property protections; (9) the impact of legislative and regulatory actions and reforms and regulatory, supervisory or enforcement actions of government agencies relating to BlackRock, Merrill Lynch or PNC; (10) terrorist activities and international hostilities, which may adversely affect the general economy, domestic and local financial and capital markets; (11) the ability to attract and retain highly talented professionals; (12) the impact of changes to tax legislation; (13) BlackRock�s ability to successfully integrate the MLIM and Quellos businesses with its existing business; (14) the ability of BlackRock to effectively manage the former MLIM and Quellos assets along with its historical assets under management; and (15) BlackRock may elect to provide support to its products from time to time. The Annual and Semi-Annual Reports and other regulatory filings of the BlackRock Closed-End 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 Closed-End Funds. The information contained on our website is not a part of this press release.