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May 22, 2008 at 17:15 PM EDT
BlackRock Announces Portfolio Manager Changes to Certain Taxable Fixed Income Closed-End Funds

BlackRock, Inc. today announced changes to the portfolio management teams on certain of its closed-end funds. Details are as follows:

Fund NameNew Management Team
The BlackRock Income Trust, Inc. (NYSE:BKT)

Eric Pellicciaro, Stuart Spodek &

Andrew J. Phillips

BlackRock Core Bond Trust (NYSE:BHK)

Stuart Spodek, James E. Keenan*

& Kevin Booth*

BlackRock Income Opportunity Trust, Inc. (NYSE:BNA)

Stuart Spodek, James E. Keenan*

& Kevin Booth*

The BlackRock Broad Investment Grade 2009 Term Trust, Inc.

(AMEX:BCT)

Stuart Spodek & Daniel Chen
BlackRock Strategic Bond Trust (NYSE:BHD)

Mark J. Williams*, Daniel Chen,

James E. Keenan* & Kevin Booth*

* Currently a portfolio manager on the respective fund

Previous portfolio managers who are no longer part of the portfolio management teams continue to remain with the firm but have assumed other responsibilities at BlackRock.

Portfolio manager biographies:

Kevin Booth, CFA, Managing Director, is co-head of the high yield team within BlackRock's Fixed Income Portfolio Management Group and co-heads BlackRock's leveraged finance business. His primary responsibilities are managing portfolios and directing investment strategy. He specializes in hybrid high yield portfolios, consisting of leveraged bank loans, high yield bonds, and distressed obligations. Mr. Booth joined BlackRock in connection with merger with Merrill Lynch Investment Managers (MLIM) in 2006. At MLIM, Mr. Booth managed four hybrid high-yield funds and led the distressed debt effort. Prior to joining MLIM in 1991, Mr. Booth spent four years with American International Group. He also spent ten years in commercial banking with both Deutsche Bank AG and Bankers Trust.

Daniel Chen, CFA, Director and portfolio manager, is a member of BlackRock's Fixed Income Portfolio Management Group. He is a member of the corporate bond team, with a sector focus on consumer products, utilities, capital securities, and banking. He has primary responsibility for managing credit-only portfolios as well as managing total return client portfolios. Mr. Chen joined the Portfolio Management Group in 2002. He began his career at BlackRock in 1999 as an analyst in the Portfolio Analytics Group.

James E. Keenan, CFA, Managing Director, is co-head of the high yield team within BlackRock's Fixed Income Portfolio Management Group and co-heads BlackRock's leveraged finance business. His primary responsibilities are managing portfolios and directing investment strategy. Prior to joining BlackRock in 2004, Mr. Keenan was a senior high yield trader at Columbia Management Group. Mr. Keenan began his investment career at UBS Global Asset Management where he held roles as a trader, research analyst and a portfolio analyst from June 1998 through July 2003.

Eric Pellicciaro, Managing Director and portfolio manager, is a member of the Fixed Income Portfolio Management Group and the lead mortgage sector specialist. Mr. Pellicciaro's primary responsibility is managing client portfolios, with a sector emphasis on fixed-rate mortgage securities, including pass-throughs and CMOs. Mr. Pellicciaro started his career in the Financial Modeling Group at BlackRock in 1996, and joined the Fixed Income Portfolio Management Group in 1999.

Andrew J. Phillips, Managing Director and portfolio manager, is co-head of US Fixed Income within BlackRock's Fixed Income Portfolio Management Group and a member of the Leadership Committee. He is responsible for the consistent implementation of investment strategies across all total return accounts. He is Chairman of the monthly Account Review Meeting, which examines performance, compliance, and operations for all client portfolios. Mr. Phillips is also a member of the mortgage securities team and previously served as the lead sector specialist before assuming his current responsibilities. Prior to joining BlackRock in 1991, Mr. Phillips was a portfolio manager at Metropolitan Life Insurance Company. He was responsible for managing separate account portfolios and directed the development of the firm's proprietary CMO analysis system.

Stuart Spodek, Managing Director and portfolio manager, is co-head of US Fixed Income within BlackRock's Fixed Income Portfolio Management Group and a member of the Leadership Committee. He is responsible for managing fixed income portfolios, with a sector emphasis on global government bonds, derivative instruments, and implementing yield curve strategy across global portfolios. Mr. Spodek joined BlackRock in 1993 as an analyst in BlackRock's Portfolio Management Group and became a portfolio manager in 1995.

Mark J. Williams, Managing Director and portfolio manager, heads BlackRock's bank loan investment team within the Fixed Income Portfolio Management Group and is co-head of BlackRock's leveraged finance business. He is a member of the firm's Investment Strategy Group and the Alternatives Operating Committee. Mr. Williams is also involved in the evaluation and sourcing of mezzanine investments, and is a member of the Investment Committee for BlackRock Kelso Capital, the firm's business development company. Prior to joining BlackRock in 1998, Mr. Williams spent eight years with PNC Bank's New York office and was a founding member of the bank's leveraged finance group. In that capacity he was responsible for structuring proprietary middle market leveraged deals and sourcing and evaluating broadly syndicated leveraged loans in the primary and secondary markets for PNC Bank's investment portfolio.

About BlackRock

BlackRock is one of the worlds largest publicly traded investment management firms. At March 31, 2008, BlackRocks 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 BlackRocks 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) the relative and absolute investment performance of BlackRocks investment products; (3) the impact of future acquisitions or divestitures; (4) the ability to attract and retain highly talented professionals; (5) BlackRocks ability to successfully integrate the MLIM and Quellos Businesses with its existing business; and (6) the ability of BlackRock to effectively manage the former MLIM and Quellos assets along with its historical assets under management.

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 BlackRocks 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.

Contacts:

BlackRock Closed End Funds
1-800-882-0052
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