SCHEDULE 14A

                                 (Rule 14a-101)

                     INFORMATION REQUIRED IN PROXY STATEMENT

                            SCHEDULE 14A INFORMATION

                Proxy Statement Pursuant to Section 14(a) of the
               Securities Exchange Act of 1934 (Amendment No.   )

Filed by the Registrant [X]
Filed by a Party other than the Registrant [_]

Check the appropriate box:

[X]  Preliminary Proxy Statement          [_]  Soliciting Material Under Rule
[_]  Confidential, For Use of the              14a-12
     Commission Only (as permitted
     by Rule 14a-6(e)(2))
[_]  Definitive Proxy Statement
[_]  Definitive Additional Materials




     THE BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.  ("BKN")
     THE BLACKROCK INSURED MUNICIPAL 2008 TERM TRUST INC.  ("BRM")
     THE BLACKROCK CALIFORNIA INSURED MUNICIPAL 2008 TERM TRUST INC.  ("BFC")
     THE BLACKROCK FLORIDA INSURED MUNICIPAL 2008 TERM TRUST  ("BRF")
     THE BLACKROCK NEW YORK INSURED MUNICIPAL 2008 TERM TRUST INC.  ("BLN")
     THE BLACKROCK BROAD INVESTMENT GRADE 2009 TERM TRUST INC.  ("BCT")
     THE BLACKROCK INCOME TRUST INC.  ("BKT")
     THE BLACKROCK HIGH YIELD TRUST  ("BHY")
     THE BLACKROCK INVESTMENT QUALITY TERM TRUST INC.  ("BQT")
     THE BLACKROCK ADVANTAGE TERM TRUST INC.  ("BAT")
     THE BLACKROCK MUNICIPAL TARGET TERM TRUST INC.  ("BMN")
     THE BLACKROCK CALIFORNIA INVESTMENT QUALITY MUNICIPAL TRUST INC.  ("RAA")
     THE BLACKROCK FLORIDA INVESTMENT QUALITY MUNICIPAL TRUST  ("RFA")
     THE BLACKROCK NEW JERSEY INVESTMENT QUALITY MUNICIPAL TRUST INC.  ("RNJ")
     THE BLACKROCK NEW YORK INVESTMENT QUALITY MUNICIPAL TRUST INC.  ("RNY")
     THE BLACKROCK INCOME OPPORTUNITY TRUST INC.  ("BNA")
     THE BLACKROCK INSURED MUNICIPAL TERM TRUST INC.  ("BMT")
     THE BLACKROCK PENNSYLVANIA STRATEGIC MUNICIPAL TRUST ("BPS")
     THE BLACKROCK STRATEGIC MUNICIPAL TRUST ("BSD")
     BLACKROCK FLORIDA MUNICIPAL INCOME TRUST ("BBF")
     BLACKROCK MUNICIPAL INCOME TRUST ("BFK")
     BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST ("BFZ")
     BLACKROCK NEW JERSEY MUNICIPAL INCOME TRUST ("BNJ")
     BLACKROCK NEW YORK MUNICIPAL INCOME TRUST ("BNY")
     BLACKROCK CALIFORNIA MUNICIPAL 2018 TERM TRUST ("BJZ")
     BLACKROCK MUNICIPAL 2018 TERM TRUST ("BPK")
     BLACKROCK NEW YORK MUNICIPAL 2018 TERM TRUST ("BLH")
     BLACKROCK CORE BOND TRUST ("BHK")
     BLACKROCK STRATEGIC BOND TRUST ("BHD")
     BLACKROCK MUNICIPAL BOND TRUST ("BBK")
     BLACKROCK CALIFORNIA MUNICIPAL BOND TRUST ("BZA")
     BLACKROCK FLORIDA MUNICIPAL BOND TRUST ("BIE")
     BLACKROCK MARYLAND MUNICIPAL BOND TRUST ("BZM")
     BLACKROCK NEW JERSEY MUNICIPAL BOND TRUST ("BLJ")
     BLACKROCK NEW YORK MUNICIPAL BOND TRUST ("BQH")
     BLACKROCK VIRGINIA MUNICIPAL BOND TRUST ("BHV")
     BLACKROCK MUNICIPAL INCOME TRUST II ("BLE")
     BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST II ("BCL")
     BLACKROCK NEW YORK MUNICIPAL INCOME TRUST II ("BFY")
     BLACKROCK INSURED MUNICIPAL INCOME TRUST ("BYM")
     BLACKROCK CALIFORNIA INSURED MUNICIPAL INCOME TRUST ("BCK")
     BLACKROCK FLORIDA INSURED MUNICIPAL INCOME TRUST ("BAF")
     BLACKROCK NEW YORK INSURED MUNICIPAL INCOME TRUST ("BSE")
     BLACKROCK PREFERRED OPPORTUNITY TRUST ("BPP")
     BLACKROCK LIMITED DURATION INCOME TRUST ("BLW")
     BLACKROCK MUNICIPAL 2020 TERM TRUST ("BKK")
     BLACKROCK FLORIDA MUNICIPAL 2020 TERM TRUST ("BFO")
     BLACKROCK DIVIDEND ACHIEVERS(TM) TRUST ("BVD")

- --------------------------------------------------------------------------------
                (Name of Registrant as Specified In Its Charter)



- --------------------------------------------------------------------------------
    (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)


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                                [BLACKROCK LOGO]

                           BLACKROCK CLOSED-END FUNDS
                              100 BELLEVUE PARKWAY
                           WILMINGTON, DELAWARE 19809

                                ----------------

                        NOTICE OF JOINT ANNUAL MEETING OF
                            STOCKHOLDERS/SHAREHOLDERS
                           TO BE HELD ON MAY 26, 2004

                                ----------------


            Notice is hereby given to the Stockholders/Shareholders of each of
the BlackRock Closed-End Funds listed on Appendix A to the Proxy Statement
accompanying this notice (collectively, the "Trusts") that:

            The Joint Annual Meeting of Stockholders/Shareholders of the Trusts
(the "Annual Meeting") will be held at the New York East Side Marriott, 525
Lexington Avenue, New York, New York, on Wednesday, May 26, 2004, at 10:00 a.m.
(New York City time). For the sake of convenience and clarity, individual Trusts
are identified throughout this notice and the attached Proxy Statement by their
trading symbols. A list of the Trusts setting forth each Trust's full name and
trading symbol is attached to the Proxy Statement accompanying this notice as
Appendix A. The Annual Meeting is being held for the following purposes:

        1.   A.   For each of the following Trusts to elect two Directors
                  (or, where applicable, Trustees), each to hold office for the
                  term indicated in the attached Proxy Statement until their
                  successors shall have been elected and qualified:

                  RNY      RNJ      RFA      RAA      BSD      BPS
                  BAT      BPP      BLW      BKK      BFO      BCT      BDV

        1.   B.   For each of the following Trusts to elect three Directors (or,
                  where applicable, Trustees), each to hold office for the term
                  indicated in the attached Proxy Statement until their
                  successors shall have been elected and qualified:

                  BKN      BRM      BFC      BRF      BLN      BHY      BBK
                  BQH      BZA      BZM      BLJ      BHV      BIE      BLE
                  BCL      BFY      BYM      BCK      BAF      BSE      BKT
                  BNA      BQT      BMN      BMT      BBF      BFK      BFZ
                  BNJ      BNY      BJZ      BPK      BLH      BHK      BHD

        2.        For each of the following Trusts to amend its respective
                  Articles Supplementary in order to require an annual, instead
                  of a quarterly, valuation date in connection with certain
                  asset coverage tests:

                  BMN      BMT      RNJ      RNY
                  BRM      BLN      BFC      BKN      RAA

        3.        To transact such other business as may properly come before
                  the Annual Meeting or any adjournments or postponements
                  thereof.

THE BOARD OF DIRECTORS OR TRUSTEES (THE "BOARD") OF EACH TRUST, INCLUDING THE
INDEPENDENT DIRECTORS, UNANIMOUSLY RECOMMENDS THAT YOU VOTE "FOR" THE PROPOSALS.



            We encourage you to contact BlackRock toll free at (800) 227-7BFM
(7236) from 9:00 a.m. to 6:00 p.m. EST if you have any questions.


            The Board of each Trust has fixed the close of business on February
27, 2004 as the record date for the determination of Stockholders/Shareholders
entitled to notice of, and to vote at, the Annual Meeting. We urge you to mark,
sign, date, and mail the enclosed proxy in the postage-paid envelope provided or
record your voting instructions via telephone or the internet (for those Trusts
that permit voting by telephone or internet) so you will be represented at the
Annual Meeting.

                                      By order of the
                                      Board of each Trust

                                      Vincent B. Tritto, Secretary of each Trust

New York, New York
April 21, 2004

- --------------------------------------------------------------------------------
IT IS IMPORTANT THAT YOUR SHARES BE REPRESENTED AT THE ANNUAL MEETING IN PERSON
OR BY PROXY. WHETHER OR NOT YOU PLAN TO ATTEND THE ANNUAL MEETING, PLEASE VOTE
BY TELEPHONE, INTERNET OR MAIL (NOT EVERY TRUST PERMITS VOTING BY INTERNET AND
TELEPHONE. PLEASE CHECK YOUR PROXY CARD). IF VOTING BY MAIL PLEASE SIGN, DATE
AND RETURN THE ENCLOSED PROXY CARD IN THE ACCOMPANYING POSTAGE-PAID ENVELOPE. IF
YOU ATTEND THE ANNUAL MEETING AND WISH TO VOTE IN PERSON, YOU WILL BE ABLE TO DO
SO AND YOUR VOTE AT THE ANNUAL MEETING WILL REVOKE ANY PROXY YOU MAY HAVE
SUBMITTED. YOUR VOTE IS EXTREMELY IMPORTANT. NO MATTER HOW MANY OR HOW FEW
SHARES YOU OWN, PLEASE SEND IN YOUR PROXY CARD TODAY.
- --------------------------------------------------------------------------------


                                        2



                           BLACKROCK CLOSED-END FUNDS
                                 PROXY STATEMENT
                                       FOR
                JOINT ANNUAL MEETING OF STOCKHOLDERS/SHAREHOLDERS
                           TO BE HELD ON MAY 26, 2004

            This document will give you the information you need to vote on the
matters listed on the accompanying Notice of Joint Annual Meeting of
Stockholders/Shareholders ("Notice of Annual Meeting"). Much of the information
in this joint proxy statement ("Proxy Statement") is required under rules of the
Securities and Exchange Commission ("SEC"); some of it is technical. If there is
anything you don't understand, please contact us at our toll-free number, (800)
227-7BFM (7236).

            This Proxy Statement is furnished in connection with the
solicitation by the respective Board of Directors or Trustees, as the case may
be (the "Board"), of each of the Trusts of proxies to be voted at the Joint
Annual Meeting of Stockholders/Shareholders of the Trusts to be held on
Wednesday, May 26, 2004, and any adjournment or postponement thereof (the
"Annual Meeting"). The Annual Meeting will be held at the New York East Side
Marriott, 525 Lexington Avenue, New York, New York, on May 26, 2004, at 10:00
a.m. (New York City time). As used in the Notice of Annual Meeting and as used
herein, the term "Directors" shall include Trustees, the term "shareholders"
shall include stockholders and the term "share" shall include stock where the
use of the terms "Trustees" or "stockholders" or "stock" would otherwise be
appropriate. This Proxy Statement and the enclosed proxy card are first being
sent to the Trusts' shareholders on or about April 14, 2004.

 *          WHY IS A SHAREHOLDER MEETING BEING HELD?

            Because the common shares of each Trust are listed on a nationally
            recognized stock exchange that requires each Trust to hold an annual
            meeting of shareholders.

 *          WHAT PROPOSALS WILL BE VOTED ON?

            In the first proposal, shareholders of all Trusts are being asked to
            elect nominees for the Board of each Trust in which they own shares
            (the "First Proposal"). In the second proposal, shareholders of each
            of BMN, BMT, BRM, BLN, BFC, BKN, RAA, RNJ and RNY are being asked to
            approve an amendment to those Trusts' Articles Supplementary (the
            "Second Proposal").



            PROPOSAL                                           TRUST
            --------                                           -----
                                                            
            #1 To elect Directors                              All Trusts

            #2 To amend the Trusts' Articles Supplementary     BMN, BMT, BRM, BLN, BFC, BKN, RAA, RNJ, RNY


 *          WILL MY VOTE MAKE A DIFFERENCE?

            YES! Your vote is important and will make a difference in the
            governance of the Trust(s), no matter how many shares you own.

 *          WHO IS ASKING FOR YOUR VOTE?

            The enclosed proxy is solicited by the Board of each Trust for use
            at the Annual Meeting to be held on Wednesday, May 26, 2004, and, if
            the Annual Meeting is adjourned or postponed, at any later meetings,
            for the purposes stated in the Notice of Annual Meeting (see
            previous pages). The Notice of Annual Meeting, the proxy and this
            Proxy Statement are being mailed on or about April 14, 2004.

 *          HOW DO THE TRUSTS' BOARDS RECOMMEND THAT SHAREHOLDERS VOTE ON THE
            PROPOSALS?

            Each Board unanimously recommends that you vote "for" the respective
            Proposal.

 *          WHO IS ELIGIBLE TO VOTE?

            Shareholders of record of each Trust at the close of business on
            February 27, 2004 are entitled to be present and to vote at the
            Annual Meeting or any adjourned or postponed meeting.


                                        3



            Each share is entitled to one vote. Shares represented by duly
            executed proxies will be voted in accordance with your instructions.
            If you sign the proxy, but don't fill in a vote, your shares will be
            voted in accordance with your Board's recommendation. If any other
            business is brought before your Trust's Annual Meeting, your shares
            will be voted at your Board's discretion.

 *          HOW MANY SHARES OF EACH TRUST WERE OUTSTANDING AS OF THE RECORD
            DATE?

            Appendix B sets forth the number of outstanding shares for each
            Trust at the close of business on February 27, 2004.

 *          WHY DOES THIS PROXY STATEMENT LIST SEVERAL CLOSED-END FUNDS?

            The Trusts have similar proposals and it is cost-efficient to have a
            joint proxy statement and one annual meeting. In the event that any
            shareholder present at the Annual Meeting objects to the holding of
            a joint meeting and moves for an adjournment of his or her Trust's
            meeting to a time immediately after the Annual Meeting so that such
            Trust's meeting may be held separately, the persons named as proxies
            will vote in favor of such adjournment. Shareholders of each Trust
            will vote separately on the respective Proposals relating to their
            Trust. In any event, an unfavorable vote on any Proposal by the
            shareholders of one Trust will not affect the implementation of such
            Proposal by another Trust if the Proposal is approved by the
            shareholders of that Trust.

THE PROPOSALS

 *          FIRST PROPOSAL: TO ELECT DIRECTORS

            WHO ARE THE NOMINEES FOR DIRECTORS?

            The Directors of the Trusts are classified into three classes of
            Directors: Class I, Class II and Class III. Each class has a term of
            three years. There are two or three nominees with respect to each
            Trust because each year the term of office of one class expires and
            only Directors of the respective Trust whose current terms are
            expiring are being nominated for election at the Annual Meeting.

            The following table sets forth the class and nominees to be voted on
            by each Trust:



                                    CLASS OF DIRECTORS
          FUND                     STANDING FOR ELECTION                            NOMINEES FOR DIRECTORS
- --------------------------------------------------------------------------------------------------------------
                                                                              
RNY   BSD   BPP   BDV                      CLASS I                                  Richard E. Cavanagh(1)
RNJ   BPS   BLW                                                                     James Clayburn La Force, Jr.
RFA   BCT   BKK
RAA   BAT   BFO
- --------------------------------------------------------------------------------------------------------------
BKN   BHY   BLJ   BFY                      CLASS II                                 Frank J. Fabozzi(1)
BRM   BBK   BHV   BYM                                                               Walter F. Mondale
BFC   BQH   BIE   BCK                                                               Ralph L. Schlosstein
BRF   BZA   BLE   BAF
BLN   BZM   BCL   BSE
- --------------------------------------------------------------------------------------------------------------
BKT   BMT   BNJ   BLH                      CLASS III                                Andrew F. Brimmer
BNA   BBF   BNY   BHK                                                               Kent Dixon
BQT   BFK   BJZ   BHD                                                               Robert S. Kapito
BMN   BFZ   BPK
- --------------------------------------------------------------------------------------------------------------


(1)         To be elected by holders of preferred shares only, except that, for
            BHY, BCT, BAT, BLW and BDV which do not have preferred shares, to be
            elected by holders of common shares.

            Each Director is also a Director of each of the other BlackRock
closed-end Trusts. Each nominee's background is described below.


                                        4



            The holders of any Trust's preferred shares will have equal voting
rights with the holders of that Trust's common shares (i.e., one vote per
share), and will vote together with the holders of common shares as a single
class on the proposal to elect Directors, except that the holders of preferred
shares of each Trust which is electing Class I or II Directors at this Annual
Meeting, voting separately as a class, will elect the preferred shares Director
from each of such classes. The two Directors that have been designated as
representing the holders of each respective Trust's preferred shares are Messrs.
Richard E. Cavanagh and Frank J. Fabozzi.

            Each Director elected will hold office for three years and until
their successors shall have been elected and qualified. The other Directors of
the Trusts will continue to serve under their current terms. The other classes
will be elected at subsequent annual meetings of shareholders.

            BAT, BCT and BQT each hold substantially all of their assets in
their respective wholly owned subsidiaries, BAT Subsidiary Inc. ("BATS"), BCT
Subsidiary Inc. ("BCTS") and BQT Subsidiary Inc. ("BQTS"). The Board of each
wholly owned subsidiary is identical to the Board of its respective parent
company. Accordingly, nominees elected as Directors of BAT, BCT, and BQT,
respectively, will be appointed by BAT, BCT and BQT, respectively, to serve as
Directors of BATS, BCTS and BQTS, respectively, each of which has investment
objectives and policies identical to BAT, BCT, and BQT, respectively.

            Certain information concerning the nominees for each of the Trusts
is set forth in the table below. All of the nominees are currently Directors of
each of the Trusts, including BATS, BCTS, and BQTS, and have served in such
capacity since each of the Trusts commenced their respective operations, except
for the following exceptions. Mr. Richard E. Cavanagh has served as Director
since his appointment by the Boards of BKN, BRM, BFC, BRF, BLN, BCT, BKT, BQT,
BAT, BMN, RAA, RFA, RNJ, RNY, BNA and BMT on August 11, 1994 to fill a vacancy.
With respect to BKT, BQT, BAT, BMN, BNA and BMT, Mr. James Clayburn La Force,
Jr. has served as Director since his election at the Trusts' annual meeting of
shareholders on June 19, 1992. Mr. Walter F. Mondale, who was previously a
Director of BKN, BRM, BFC, BLN, BCT, BKT, BQT, BAT, BMN, BMT, RFA, RAA, RNJ,
RNY, BNA and BRF from inception to August 12, 1993, has served as Director since
his election at the Trusts' annual meeting of shareholders on April 15, 1997,
except that he resigned on October 31, 2002 to run for the U.S. Senate and was
subsequently reappointed by the Boards on November 12, 2002. Mr. Robert S.
Kapito was appointed by the Boards on August 22, 2002 to fill a vacancy.
Pursuant to the requirements of Maryland law, Messrs. Mondale and Kapito were
elected as Directors of BKN, BRM, BFC, BLN, BCT, BKT, BQT, BAT, BMN, BMT, RAA,
RNJ, RNY and BNA at the Trusts' annual meeting of shareholders on May 22, 2003.
Mr. Ralph L. Schlosstein also serves as Chairman and President of the BlackRock
Liquidity Funds and Director of Anthracite Capital, Inc. and several of
BlackRock's alternative investment vehicles. Each Director holds his position as
to each of the 49 active closed-end funds(1) advised by BlackRock Advisors, Inc.
(the "Fund Complex"). As of February 27, 2004, the Fund Complex consisted of 49
active closed-end funds, each with one investment portfolio.

            Except as indicated, each individual has held the office shown or
other offices in the same company for the last five years. The "interested"
Directors (as defined in Section 2(a)(19) of the Investment Company Act of 1940,
as amended (the "1940 Act")) are indicated by an asterisk(*). Independent
directors are those who are not interested persons of the Trusts or BlackRock
Advisors, Inc. and comply with the definition of "independent" (as defined in
Rule 10A-3 of the Securities Exchange Act of 1934) (the "Independent
Directors"). Unless specified otherwise below, the business address of the
Directors and officers of each of the Trusts is 40 East 52nd Street, New York,
New York 10022, and the address of BlackRock Advisors, Inc. (the "Advisor") is
100 Bellevue Parkway, Wilmington, Delaware 19809.


- --------------------
1    The 49 active closed-end funds consist of 48 funds listed on a nationally
     recognized stock exchange included in this Proxy Statement and one interval
     fund, Partners Balanced Trust, which is not required to be included in this
     Proxy Statement.


                                        5





                                                                                                  OTHER DIRECTORSHIPS HELD BY
       NAME, ADDRESS                        PRINCIPAL OCCUPATION(S)                                DIRECTOR OR NOMINEE FOR
          AND AGE                            DURING PAST 5 YEARS                                           DIRECTOR
- ---------------------------         ----------------------------------------                    ------------------------------
                                                                                 
INTERESTED DIRECTORS:

Ralph L. Schlosstein*  Director since 1999 and President of BlackRock, Inc. since      Chairman and President of the BlackRock
Age 53                 its formation in 1998 and of BlackRock, Inc.'s predecessor      Liquidity Funds (10 portfolios). Director of
Class II               entities since 1988. Member of the Management Committee         Anthracite Capital, Inc. and Director of
                       and Investment Strategy Group of BlackRock, Inc. Formerly,      seve of BlackRock's alternative investment
                       Managing Director of Lehman Brothers, Inc. and Co-head of       vehicles. Currently, a Member of the
                       its Mortgage and Savings Institutions Group. Currently,         Visiting Board of Overseers of the John F.
                       Chairman and Trustee of each of the closed-end Trusts in        Kennedy School of Government at Harvard
                       which the Advisor acts as investment advisor.                   University, the Financial Institutions
                                                                                       Center Board of th Wharton School of the
                                                                                       University of Pennsylva a Trustee of the
                                                                                       American Museum of Natural History, a
                                                                                       Trustee of Trinity School in New York City
                                                                                       and a Trustee of New Visions for Public
                                                                                       Education in New York City. Formerly, a
                                                                                       Director of Pulte Corporation and a Member
                                                                                       of Fannie Mae's Advisory Council.

Robert S. Kapito*      Vice Chairman of BlackRock, Inc., Head of the Portfolio         Chairman of the Hope & Heroes Children's
Age: 47                Management Group, a member of the Management                    Cancer Fund. President of the Board of
Class III              Committee, the Investment Strategy Group, the Fixed Income      Directors of Periwinkle National Theatre
                       and Global Operating Committees and the Equity Investment       for Young Audiences. Director of icruise.com,
                       Strategy Group of BlackRock, Inc. Responsible for the           Corp.
                       portfolio management of the Fixed Income, Domestic Equity,
                       Liquidity and Alternative Investment Groups of BlackRock.
                       Currently, President and Trustee for each of the
                       closed-end Trusts in which the Advisor acts as investment
                       advisor.

INDEPENDENT DIRECTORS:

Andrew F. Brimmer      President of Brimmer & Company, Inc., a Washington D.C.-        Director of CarrAmerica Realty Corporation
P.O. Box 4546          based economic and financial consulting firm. Also, Wilmer      and Borg-Warner Automotive. Former Director
New York, NY 10163     D. Barrett Professor of Economics, University of                of AirBorne Express, BankAmerica Corporation
Age: 77                Massachusetts - Amherst. Former member of the Board of          (Bank of America), Bell South Corporation,
Class III              Governors of the Federal Reserve System. Former Chairman,       College Retirement Equities Fund (Trustee),
                       District of Columbia Financial Control Board. Lead Trustee      Commodity Exchange, Inc. (Public Governor),
                       and Chairman of the Audit Committee of each of the closed-      Connecticut Mutual Life Insurance Company,
                       end trusts of which BlackRock Advisors Inc. acts as             E.I. du Pont de Nemours & Company, Equitable
                       investment advisor.                                             Life Assurance Society of the United States,
                                                                                       Gannett Company, Mercedes-Benz of North
                                                                                       America, MNC Financial Corporation (American
                                                                                       Security Bank), NCM Capital Management,
                                                                                       Navistar International Corporation, PHH
                                                                                       Corp. and UAL Corporation (United Airlines).

Richard E. Cavanagh    President and Chief Executive Officer of The Conference         Trustee Emeritus, Wesleyan University,
P.O. Box 4546          Board, Inc., a leading global business membership               Trustee, Airplanes Group, Aircraft Finance
New York, NY 10163     organization, from 1995-present. Former Executive Dean of       Trust (AFT) and Educational Testing Service
Age: 57                the John F. Kennedy School of Government at Harvard             (ETS). Director, Arch Chemicals, Fremont
Class I                University from 1988-1995. Acting Director, Harvard Center      Group and The Guardian Life Insurance
                       for Business and Government (1991-1993). Former Partner         Company of America.
                       (principal) of McKinsey & Company, Inc. (1980-1988).
                       Former Executive Director of Federal Cash Management,
                       White House Office of Management and Budget (1977- 1979).
                       Co-author, THE WINNING PERFORMANCE (best selling
                       management book published in 13 national editions).

Kent Dixon             Consultant/Investor. Former President and Chief Executive       Former Director of ISFA (the owner of
P.O. Box 4546          Officer of Empire Federal Savings Bank of America and           INVEST, a national securities brokerage
New York, NY 10163     Banc PLUS Savings Association. Former Chairman of the           service designed for banks and thrift
Age: 66                Board, President and Chief Executive Officer of Northeast       institutions).
Class III              Savings.



                                                                  6




                                                                                                  OTHER DIRECTORSHIPS HELD BY
       NAME, ADDRESS                        PRINCIPAL OCCUPATION(S)                                DIRECTOR OR NOMINEE FOR
          AND AGE                            DURING PAST 5 YEARS                                           DIRECTOR
- ---------------------------         ----------------------------------------                    ------------------------------
                                                                                 
Frank J. Fabozzi       Consultant. Editor of THE JOURNAL OF PORTFOLIO                  Director, Guardian Mutual Funds Group (18
P.O. Box 4546          MANAGEMENT and Adjunct Professor of Finance at the              portfolios).
New York, NY 10163     School of Management at Yale University. Author and editor
Age: 55                of several books on fixed income portfolio management.
Class II               Visiting Professor of Finance and Accounting at the Sloan
                       School of Management, Massachusetts Institute of Technology
                       from 1986 to August 1992.

James Clayburn         Dean Emeritus of The John E. Anderson Graduate School of        Director, Payden & Rygel Investment Trust,
  La Force, Jr.        Management, University of California since July 1, 1993.        Metzler-Payden Investment Trust, Advisors
P.O. Box 4546          Acting Dean of The School of Business, Hong Kong                Series Trust, Arena Pharmaceuticals, Inc. and
New York, NY 10163     University of Science and Technology 1990-1993. From            CancerVax Corporation.
Age: 75                1978 to September 1993, Dean of The John E. Anderson
Class I                Graduate School of Management, University of California.

Walter F. Mondale      Senior Counsel, Dorsey & Whitney LLP, a law firm (January       Director of United Health Foundation and the
P.O. Box 4546          2004 - present); Partner, Dorsey & Whitney LLP,                 Japan Society. Member of the Hubert H.
New York, NY 10163     (December 1996 - December 2003, September 1987 - August         Humphrey Institute of Public Affairs Advisory
Age: 76                1993). Former U.S. Ambassador to Japan (1993 - 1996).           Board, The Mike and Maureen Mansfield
Class II               Formerly Vice President of the United States, U.S. Senator      Foundation, Dean's Board of Visitors of the
                       and Attorney General of the State of Minnesota. 1984            Medical School at the University of
                       Democratic Nominee for President of the United States.          Minnesota, and the Mayo Foundation
                       Formerly Director of Northwest Airlines Corp., UnitedHealth     Advisory Council to the President.
                       Group and RBC Dain Rauscher, Inc.


 *          DO THE TRUSTS HAVE ANY COMMITTEES?

            Yes. The Trusts' Directors have determined that the efficient
conduct of the Trusts' affairs makes it desirable to delegate responsibility for
certain specific matters to committees of the Boards. The committees meet as
often as necessary, either in conjunction with regular meetings of the Directors
or otherwise. The Governance Committee appoints the members and chairperson of
the Audit Committee and the chairperson of the Governance Committee.

EXECUTIVE COMMITTEE

            Each Trust has an Executive Committee composed of Messrs.
Schlosstein and Kapito, which acts on behalf of the full Board on certain
matters in the interval between meetings of the Board.

AUDIT COMMITTEE

            Each of the Trusts has an Audit Committee, composed of three of the
Independent Directors, which is charged with selecting a firm of independent
accountants for its respective Trust and reviewing accounting matters with the
accountants.

            The Audit Committee of each Trust presents the following report:

            The Audit Committee of each Trust has performed the following
functions: (i) the Audit Committee reviewed and discussed the audited financial
statements of each Trust with management of each respective Trust, (ii) the
Audit Committee discussed with the independent auditors the matters required to
be discussed by the Statement on Auditing Standards No. 61, (iii) the Audit
Committee received the written disclosures and the letter from the independent
auditors required by ISB Standard No. 1 and has discussed with the auditors the
auditors' independence and (iv) the Audit Committee recommended to the Board of
Directors of each Trust that the financial statements be included in each
Trust's Annual Report for the past fiscal year.

            The members of the Audit Committee of each Trust are Messrs. Brimmer
(Chairman of the Audit Committee), Cavanagh and Dixon, all of whom are
Independent Directors. The Board of each Trust has determined that each Trust
has two audit committee financial experts serving on its audit committee, Dr.
Brimmer and Mr. Dixon, both of whom are independent for the purpose of the
definition of audit committee financial expert as applicable to the Trusts.

            The Audit Committee is governed by a written charter, which was
revised on February 19, 2004 and is attached hereto as Appendix C.


                                       7



GOVERNANCE COMMITTEE

            Each of the Trusts has a Governance Committee, which also performs
the functions normally performed by a nominating committee. The Governance
Committee is composed of all of the Independent Directors. The 1940 Act requires
that the Trusts have a minimum proportion of directors who are not affiliated in
any way with the investment manager, principal underwriter or any broker-dealer
of the Trusts. These Independent Directors must vote separately to approve all
financial arrangements and other agreements with the Trusts' investment manager
and other affiliated parties. Each Trust's Independent Directors meet regularly
as a group in executive session as the Governance Committee.

            As part of its duties, the Governance Committee makes
recommendations to the full Board of each Trust with respect to candidates for
the Board and with respect to the compensation of Directors. The Governance
Committee will consider director candidates recommended by shareholders. In
considering candidates submitted by shareholders, the Governance Committee will
take into consideration the needs of the Board and the qualifications of the
candidate. The Governance Committee may also take into consideration the number
of shares held by the recommending shareholder and the length of time that such
shares have been held. To have a candidate considered by the Governance
Committee, a shareholder must submit the recommendation in writing and must
include:

            o    The name of the shareholder and evidence of the person's
                 ownership of shares of the applicable Trust(s), including the
                 number of shares owned and the length of time of ownership; and

            o    The name of the candidate, the candidate's resume or a listing
                 of his or her qualifications to be a Director of the Trust(s)
                 and the person's consent to be named as a Director if selected
                 by the Governance Committee and nominated by the Board.

            The shareholder recommendation and information described above must
be sent to the Corporate Secretary, c/o BlackRock, P.O. Box 4546, New York, New
York 10163 and must be received by the Corporate Secretary not less than 120
days prior to the anniversary date of the Trust's most recent annual meeting of
shareholders. The Governance Committee believes that the minimum qualifications
for serving as a Director of the Trust(s) are that a candidate demonstrate, by
significant accomplishment in his or her field, an ability to make a meaningful
contribution to the Board's oversight of the business and affairs of the
Trust(s) and have an impeccable record and reputation for honest and ethical
conduct in both his or her professional and personal activities. In addition,
the Governance Committee examines a candidate's specific experiences and skills,
time availability in light of other commitments, potential conflicts of interest
and independence from management and the Trust(s). The Governance Committee also
seeks to have the Board represent a diversity of backgrounds and experience. The
Trusts do not pay any third party a fee to assist in the process of identifying
and evaluating candidates.

            The Joint Governance Committee Charter of the Trusts is available at
BlackRock's web site at http://www.blackrock.com/funds/cefunds/index.html under
the heading "Corporate Governance/Committee Charters."

*           DO THE TRUSTS HAVE A POLICY WITH RESPECT TO THE ATTENDANCE OF
            DIRECTORS AT THE ANNUAL MEETING?

            It is the Trusts' policy to encourage Directors to attend the Annual
Meeting. At the Annual Meeting on May 22, 2003, all of the Trusts' Directors
were present.

*           HOW CAN THE TRUSTS' SHAREHOLDERS SEND COMMUNICATIONS TO THE
            DIRECTORS?

            Shareholders and other interested parties may contact the Boards or
any member of the Boards by mail or electronically. To communicate with the
Boards or any member of the Boards, correspondence should be addressed to the
Board or the Board members with whom you wish to communicate by either name or
title. All such correspondence should be sent c/o Secretary of the applicable
Trust or Trusts at P.O. Box 4546, New York, New York 10163. Shareholders may
communicate with the Boards electronically by sending an email to
"closedendfundsbod@blackrock.com."

*           HOW MANY SHARES OF THE TRUSTS DO THE DIRECTORS OWN?

            The chart attached hereto as Appendix D lists the number of shares
beneficially owned by the Directors and the number of share equivalents owned by
the Directors pursuant to the Directors' deferred compensation plan.


                                       8



 *          HOW OFTEN DO THE DIRECTORS MEET?

            Eight meetings of the Boards of each of BZA, BIE, BZM, BBK, BLJ,
BQH, BHV, BLE, BCL and BFY and nine meetings of the Boards of each of BYM, BCK,
BAF and BSE were held during their last fiscal year between September 1, 2002
and August 31, 2003. Five meetings of the Boards of each of BNA, BHD, BCT, BHY,
BKN, BKT, RAA, RNJ, RNY and BHK and six meetings of the Boards of each of RFA,
BBF, BFK, BFZ, BNJ and BNY were held during their last fiscal year between
November 1, 2002 and October 31, 2003. Six meetings of the Boards of each of
BMN, BFC, BLN, BMT, BRM, BQT and BAT and seven meetings of the Boards of each of
BPS, BRF, BSD, BJZ, BLH and BPK were held during their last fiscal year between
January 1, 2003 and December 31, 2003.

            Six meetings of the Audit Committees of each of BZA, BIE, BZM, BBK,
BLJ, BQH, BHV, BLE, BCL, BFY, BYM, BCK, BAF and BSE were held during their last
fiscal year between September 1, 2002 and August 31, 2003. Six meetings of the
Audit Committees of each of BNA, BHD, BCT, BHY, BKN, BKT, RAA, RFA, RNJ, RNY,
BFK, BFZ, BBF, BNJ, BNY and BHK were held during their last fiscal year between
November 1, 2002 and October 31, 2003. Seven meetings of the Audit Committees of
each of BPK, BJZ, BLH, BMN, BFC, BLN, BMT, BRF, BRM, BPS, BQT, BAT and BSD were
held during their last fiscal year between January 1, 2003 and December 31,
2003.

            Four meetings of the Governance Committees of each of BZA, BIE, BZM,
BBK, BLJ, BQH, BHV, BLE, BCL, BFY, BYM, BCK, BAF and BSE were held during their
last fiscal year between September 1, 2002 and August 31, 2003. Three meetings
of the Governance Committees of each of BNA, BHD, BCT, BHY, BKN, BKT, RAA, RFA,
RNJ, RNY, BFK, BFZ, BBF, BNJ, BNY and BHK were held during their last fiscal
year between November 1, 2002 and October 31, 2003. Four meetings of the
Governance Committees of each of BPK, BJZ, BLH, BMN, BFC, BLN, BMT, BRF, BRM,
BPS, BQT, BAT and BSD were held between their last fiscal year from January 1,
2003 and December 31, 2003.

            During each Trust's last full fiscal year, each Director attended at
least 75% of the aggregate of: (i) all regular meetings of the Board of each
Trust (held during the period for which he has been a Director); and (ii) all
meetings of all committees of the Board of each Trust on which he served (during
the periods that he served).

            Annual meeting information and Directors' attendance for BLW, BPP,
BKK, BFO and BDV have not been provided because such Trusts have not been in
operation for a full fiscal year.


 *          WHAT ARE THE DIRECTORS PAID FOR THEIR SERVICES?

            The following table sets forth certain information regarding the
compensation of the Trusts' Directors (other than the "interested" Directors (as
defined in Section 2(a)(19) of the 1940 Act) who do not receive a salary from
the Trusts):

                                                         TOTAL COMPENSATION
                                                        FROM THE FUND COMPLEX
          NAME OF DIRECTOR                              PAID TO DIRECTORS (1)
          ----------------                              ---------------------
          Andrew F. Brimmer                                $250,000(2)(3)(4)
          Richard E. Cavanagh                              $210,000(2)(4)
          Kent Dixon                                       $210,000(2)(4)
          Frank J. Fabozzi                                 $190,000(2)
          James Clayburn La Force, Jr.                     $190,000(2)
          Walter F. Mondale                                $190,000(2)

- ---------------------
(1)  Represents the total compensation earned by such persons during the
     calendar year ended December 31, 2003 from the Fund Complex.

(2)  Represents the aggregate compensation earned by such persons during the
     calendar year ended December 31, 2003. Of this amount, Messrs. Brimmer,
     Cavanagh, Dixon, Fabozzi, La Force and Mondale deferred $50,000, $50,000,
     $50,000, $30,000, $189,750 and $30,000, respectively, pursuant to the Fund
     Complex's deferred compensation plan (described below).

(3)  Dr. Brimmer serves as "lead independent director" for each Board in the
     Fund Complex. For his services as lead independent director, Dr. Brimmer is
     compensated in the amount of $40,000 per annum by the Fund Complex
     allocated among the Trusts in the Fund Complex based on each Trust's
     relative net assets.


                                        9



(4)  Messrs. Brimmer, Cavanagh and Dixon serve on the Audit Committee of the
     Fund Complex and for their service receive an additional $20,000 per annum,
     allocated among the Trusts in the Fund Complex based on their relative net
     assets.

            During the last fiscal year, each Independent Director received an
annual fee calculated as follows: (i) $6,000 from each Trust in the Fund Complex
and (ii) $1,500 for each meeting of each Board in the Fund Complex attended by
such Independent Director. The total annual aggregate compensation for each
Independent Director was capped at $190,000 per annum, except that Dr. Brimmer
received an additional $40,000 per annum from the Fund Complex for acting as the
lead director for each Board in the Fund Complex and Messrs. Brimmer, Cavanagh
and Dixon received an additional $20,000 per annum from the Fund Complex for
their service on the Audit Committee of the Fund Complex. This additional
compensation to Messrs. Brimmer, Cavanagh and Dixon was allocated among the
Trusts in the Fund Complex based on their relative net assets. In the event that
the $190,000 cap was met with respect to an Independent Director, the amount of
the Independent Director's fee borne by each Trust in the Fund Complex was
reduced by reference to the net assets of the Trust relative to the other Trusts
in the Fund Complex. In addition, the attendance fees of each Independent
Director of the Trusts were reduced proportionately, based on each respective
Trust's net assets, so that the aggregate per meeting fee for all meetings of
the Boards of the Trusts (excluding the per annum Audit Committee fee) held on a
single day did not exceed $23,750 for any Independent Director.

            The following fees were accrued by the following Trusts during their
last fiscal year from January 1, 2003 to December 31, 2003:

                  BAT   $16,100   BMN   $72,000   BJZ      $14,000
                  BRM   $78,400   BQT   $44,000   BPK      $34,400
                  BLN   $31,200   BPS   $12,400   BLH      $12,800
                  BFC   $28,900   BSD   $15,900   BPP(1)   $50,500
                  BRF   $23,100   BMT   $41,900   BKK(1)   $10,200
                                                  BFO(1)   $ 3,300

- ---------------------
(1)  BPP, BKK and BFO accruals do not represent a full fiscal year.

The following fees were accrued by the following Trusts during their last fiscal
year from November 1, 2002 to October 31, 2003:

                  BHY   $12,000   RNY   $12,000   BHK      $52,800
                  BCT   $14,400   BKN   $41,200   BHD      $13,200
                  RAA   $12,000   BNA   $57,600   BFK      $79,600
                  RFA   $12,000   BBF   $14,500   BNJ      $15,700
                  BFZ   $30,900   BNY   $26,700   BLW(2)   $20,400
                  RNJ   $12,000   BKT   $74,700

(2)  BLW accrual does not represent a full fiscal year. BDV was not yet formed
     during this time period.

The following fees were accrued by the following Trusts during their last fiscal
year from September 1, 2002 to August 31, 2003:

                  BBK   $20,400   BHV   $12,200   BYM      $43,100
                  BZA   $12,600   BLE   $45,500   BCK      $10,800
                  BIE   $12,600   BCL   $17,500   BAF      $14,200
                  BZM   $12,400   BLJ   $12,400   BSE      $11,000
                  BQH   $12,500   BFY   $12,800

            None of the Directors received any pension or retirement benefits.
None of the officers of the Trusts received any compensation, including pension
or retirement benefits, from the Trusts for such period. Messrs. Schlosstein,
Kapito, Gabbay, Klingert, Kong, Gary, Shea, Tritto, Kindelan and Ms. Ackerley,
officers of the Trusts, are also affiliated with the Advisor or its affiliates.
They receive compensation from the Advisor or one of its affiliates, although
under the terms of the investment advisory agreements some portion of their
compensation could be reimbursable by a particular Trust to the extent such
person's working time (other than time related to providing investment advisory
services) is devoted to certain of that particular Trust's operations.

            Under the deferred compensation plan (the "Plan") approved by each
Trust's Board, Independent Directors may elect to defer receipt of all or a
portion of their annual compensation. As of January 1, 2003, the Board elected
to require its Independent Directors to defer a portion of their annual
compensation pursuant to the Plan. Deferred amounts earn an approximate return
as


                                       10


though equivalent dollar amounts had been invested in common shares of certain
BlackRock closed-end Trusts selected by the Directors. This has the same
economic effect for the Directors as if the Directors had invested the deferred
amounts in such Trusts. The Plan is not funded and obligations thereunder
represent general unsecured claims against the general assets of the Trust. Each
Trust may, however, elect to invest in common shares of those Trusts selected by
the Directors in order to match its deferred compensation obligations.

            The Independent Directors have voluntarily agreed that at least
$30,000 of their $190,000 base fee will be mandatorily deferred pursuant to the
Plan. Also, members of the Audit Committee of the Fund Complex are required to
defer all of the $20,000 per annum fee they will receive for their services on
the Audit Committee pursuant to the Plan.

 *          HOW LARGE A STAKE DO THE DIRECTORS HAVE IN THE TRUSTS?

            The Directors believe each Director should have a beneficial
investment in the BlackRock closed-end Trusts. The Directors allocate their
investments among the 49 active BlackRock closed-end Trusts based on their own
investment needs. The table attached at Appendix E to this Proxy Statement sets
forth the dollar range of equity securities beneficially owned and share
equivalents held by each Director in all of the BlackRock closed-end Trusts
represented in this Proxy statement as of February 27, 2004.

            The affirmative vote of a plurality of the shares present for each
Trust at the Annual Meeting at which a quorum is present is necessary to approve
Proposal 1 for each respective Trust.

            THE BOARD OF EACH TRUST, INCLUDING THE INDEPENDENT DIRECTORS,
UNANIMOUSLY RECOMMENDS THAT YOU VOTE "FOR" THE PROPOSAL.

SECOND PROPOSAL: TO AMEND THE TRUSTS' ARTICLES SUPPLEMENTARY

 *          HOW WILL THE ARTICLES SUPPLEMENTARY OF CERTAIN TRUSTS BE AMENDED?

            The Board of Directors of each of BMN, BMT, BRM, BLN, BFC, BKN, RAA,
RNJ and RNY (the "Affected Trusts") are recommending that the Affected Trusts'
Articles Supplementary be amended to remove a requirement that the Trusts'
independent accountants confirm that the Trusts satisfy certain preferred share
asset coverage tests once per quarter. If the proposal is approved, the Affected
Trusts' independent accountants will be required to provide such accountants'
confirmation once per year.

            Currently, the Affected Trusts' Articles Supplementary require that
an accountants' confirmation be provided on each "Quarterly Valuation Date." A
Quarterly Valuation Date is defined as follows:

                  "'Quarterly Valuation Date' means the last Business Day of
                  each fiscal quarter of the Corporation in each fiscal year of
                  the Corporation..."

If the proposal is approved, the Articles Supplementary will be amended to
remove all references to "Quarterly Valuation Date" and replace such references
with "Annual Valuation Date." "Annual Valuation Date" will be defined as
follows:

                  "'Annual Valuation Date' means the last Business Day of each
                  fiscal year of the Corporation."

 *          WHY AM I BEING ASKED TO APPROVE THIS AMENDMENT?

            The Articles Supplementary for the Affected Trusts contain the
quarterly confirmation requirement due to restrictions previously imposed by the
rating agencies rating each Affected Trust's Preferred Shares. Recently, these
rating agencies removed the quarterly confirmation requirement and will now
permit the Affected Trusts to obtain an accountants' confirmation on an annual
basis. However, removing the quarterly accountants' confirmation and replacing
it with an annual confirmation requires an amendment to each Affected Trust's
charter which, under Maryland law, requires shareholder approval.

            At the meeting of the Board of Directors of each affected Trust held
on February 19, 2004, the Board evaluated this proposal. Based upon its review,
the Board concluded that the proposal is in the best interest of the Affected
Trusts and their shareholders because it will reduce costs to the Affected
Trusts' common shareholders without meaningfully reducing protections to their
respective preferred shareholders. Accordingly, on February 19, 2004, the Board
unanimously adopted a resolution setting forth the proposed amendment, declaring
it to be advisable, directing that it be submitted for consideration at the
Annual Meeting and recommending that all shareholders vote for its approval.


                                       11



            Accordingly, each Affected Trust's shareholders are being asked to
approve this amendment with respect to the Affected Trust or Trusts in which
they own shares.

            The holders of the preferred shares and the holders of the common
shares are entitled to vote on Proposal 2. Approval of Proposal 2 requires the
affirmative vote by the holders of a majority of the outstanding preferred
shares and common shares when voting as a single class.

            THE BOARD OF EACH AFFECTED TRUST, INCLUDING THE INDEPENDENT
DIRECTORS, UNANIMOUSLY RECOMMENDS THAT YOU VOTE "FOR" THE PROPOSAL.

FURTHER INFORMATION ABOUT VOTING AND THE ANNUAL MEETING

            The cost of soliciting proxies will be borne by each Trust in the
proportion to the amount of proxies solicited on behalf of a Trust bears to the
total proxies solicited on behalf of all of the Trusts. In addition, certain
officers, directors and employees of each of the Trusts and the Advisor, located
at 100 Bellevue Parkway, Wilmington, Delaware 19809, (none of whom will receive
additional compensation therefor) may solicit proxies by telephone or mail.
Also, certain of the Trusts may employ Georgeson Shareholder Communications Inc.
pursuant to its standard contract as proxy solicitor, the cost of which will be
borne proportionately by each of the Trusts and is estimated to be approximately
$3,500 (except for BHV, BZM, BLJ, BQH, BKK, BFO, BLW, BPP and BDV, which will be
approximately $2,500), per Trust.

            Abstentions will be counted as shares present at the Meeting and
will not affect the result of the vote on Proposal 1. Abstentions on Proposal 2
will have the same effect as a negative vote because approval of this proposal
requires the affirmative vote by the holders of a majority of the outstanding
preferred shares and common shares when voting as a single class.

            All properly executed proxies received prior to the Annual Meeting
will be voted at the Annual Meeting in accordance with the instructions marked
thereon or otherwise as provided therein. Shareholders may revoke their proxies
at any time prior to the time they are voted by giving written notice to the
Secretary of the Trust by delivering a subsequently dated proxy or by attending
and voting at the Annual Meeting.

            The Board of each Trust has fixed the close of business on February
27, 2004 as the record date for the determination of shareholders of each Trust
entitled to notice of, and to vote at, the Annual Meeting. Shareholders of each
Trust on that date will be entitled to one vote on each matter to be voted on by
that Trust for each share held and a fractional vote with respect to fractional
shares with no cumulative voting rights.

                             ADDITIONAL INFORMATION

EXECUTIVE OFFICERS

            In addition to Messrs. Schlosstein and Kapito, all the following
executive officers, except Messrs. Gary and Klingert, hold the same position
with each of the Trusts. With respect to Mr. Klingert, he is an officer of BRM,
BLN, BFC, BRF, BKN, BMN, RAA, RFA, RNJ, RNY, BPS, BSD, BMT, BBF, BFK, BFZ, BNJ,
BNY, BJZ, BPK, BLH, BBK, BZA, BIE, BZM, BLJ, BQH, BHV, BLE, BCL, BFY, BYM, BCK,
BAF, BSE, BKK and BFO only. With respect to Mr. Gary, he is an officer of BHY,
BHK, BHD and BNA only.



                                                       OTHER PRINCIPAL OCCUPATIONS
NAME AND AGE                   TITLE                        IN PAST 5 YEARS
- -----------------------------------------------------------------------------------------------
                                        
Anne Ackerley          Vice President        Managing Director of BlackRock, Inc. since 2000.
Age: 42                                      Formerly First Vice President and Chief Operating
                                             Officer, Mergers and Acquisitions Group at Merrill
                                             Lynch & Co. from 1997 to 2000; First Vice
                                             President and Chief Operating Officer, Public
                                             Finance Group at Merrill Lynch & Co. from 1995
                                             to 1997; First Vice President, Emerging Markets
                                             Fixed Income Research at Merrill Lynch & Co.
                                             prior thereto.

Henry Gabbay           Treasurer             Managing Director of BlackRock, Inc. and
Age: 56                                      its predecessor entities.


                                       12





                                                      OTHER PRINCIPAL OCCUPATIONS
NAME AND AGE                   TITLE                       IN PAST 5 YEARS
- -----------------------------------------------------------------------------------------------
                                        
Jeff Gary              Vice President        Managing Director of BlackRock, Inc. since 2003.
Age: 41                                      Formerly, Managing Director and high yield
                                             portfolio manager with AIG (American General)
                                             Investment Group.

Brian P. Kindelan      Assistant Secretary   Director and Senior Counsel (since January 2001),
Age: 44                                      and Vice President and Senior Counsel (1998-
                                             2000), BlackRock, Inc.; Senior Counsel, PNC
                                             Bank Corp. from May 1995 to April 1998;
                                             Associate, Stradley, Ronon, Stevens & Young,
                                             LLP from March 1990 to May 1995.

Kevin Klingert         Vice President        Managing Director of BlackRock, Inc. and
Age: 41                                      its predecessor entities.

James Kong             Assistant Treasurer   Managing Director of BlackRock, Inc. and
Age: 43                                      its predecessor entities.

Richard Shea, Esq.     Vice President/Tax    Managing Director of BlackRock, Inc. since 2000;
Age: 44                                      Chief Operating Officer and Chief Financial
                                             Officer of Anthracite Capital, Inc. since 1998.
                                             Formerly, Director of BlackRock, Inc. and its
                                             predecessor entities.

Vincent B. Tritto      Secretary             Director and Assistant Secretary of BlackRock,
Age: 42                                      Inc. since 2002. Formerly, Executive Director
                                             (2000-2002) and Vice President (1998-2000), Morgan
                                             Stanley & Co. Incorporated and Morgan Stanley
                                             Asset Management Inc. and officer of various
                                             Morgan Stanley-sponsored investment vehicles;
                                             Counsel (1998) and associate (1988- 1997), Rogers
                                             & Wells LLP, New York, NY; Foreign Associate
                                             (1992-1994), Asahi Law Offices/Masuda & Ejiri,
                                             Tokyo, Japan.


INVESTMENT ADVISOR

            The Advisor, located at 100 Bellevue Parkway, Wilmington, Delaware
19809, is a wholly owned subsidiary of BlackRock, Inc. ("BlackRock"), which is
one of the largest publicly traded investment management firms in the United
States, with approximately $309 billion of assets under management as of
December 31, 2003. BlackRock manages assets on behalf of institutions and
individual investors worldwide, through a variety of equity, fixed income,
liquidity and alternative investment separate accounts and mutual funds,
including the BlackRock Funds and BlackRock Liquidity Funds. In addition,
BlackRock provides risk management and investment system services to a growing
number of institutional investors under the BlackRock Solutions(R) name. Clients
are served from BlackRock's headquarters in New York City, as well as offices in
Wilmington, San Francisco, Boston, Edinburgh, Tokyo and Hong Kong. BlackRock is
a member of The PNC Financial Services Group, Inc. (NYSE: "PNC"), one of the
largest diversified financial services organizations in the United States, and
is majority-owned by PNC and by BlackRock employees. The Advisor also acts as
the administrator of the Trusts.

            The executive officers of the Advisor are:

NAME                                    POSITION
- ----                                    --------
Laurence D. Fink                        Chief Executive Officer
Ralph L. Schlosstein                    President
Robert S. Kapito                        Vice Chairman
Robert P. Connolly                      General Counsel and Secretary


Mr. Schlosstein is a Director of the Trusts and Mr. Kapito is an officer and
Director of the Trusts.

            BlackRock Financial Management, Inc., an affiliate of the Advisor
and a wholly owned subsidiary of BlackRock, currently serves as Sub-Advisor to
BBF, BFK, BFZ, BNJ, BNY, BJZ, BPK, BLH, BHK, BHD, BYM, BCK, BAF, BSE, BLE, BFY,
BCL, BZA, BBK, BIE, BLJ, BQH, BZM, BHV, BPP, BLW, BKK, BFO and BDV.


                                       13


INDEPENDENT AUDITORS

            Deloitte & Touche LLP ("D&T") has been selected as the independent
auditor by the Audit Committee of each Trust and ratified by a majority of each
Trust's Board, including a majority of the Independent Directors by vote cast in
person, to audit the accounts of each Trust for and during each Trust's fiscal
year ending in 2004. None of the Trusts knows of any direct or indirect
financial interest of D&T in the Trusts.

            Representatives of D&T will attend the Annual Meeting, will have the
opportunity to make a statement if they desire to do so and will be available to
answer questions.

AUDIT FEES

            The aggregate fees billed to each Trust by D&T for professional
services rendered for the audit of each Trust's annual financial statements for
the most recent fiscal year (or period) were in the following amounts:

              BKN   $34,000       BLN   $24,700       BZM      $30,100
              BRM   $36,000       BCT   $18,100       BLJ      $30,100
              BFC   $24,600       BHY   $23,500       BQH      $30,300
              BKT   $61,300       BAT   $27,700       BHV      $12,300
              BQT   $55,300       RAA   $ 9,100       BLE      $34,100
              BMN   $45,400       RNJ   $ 9,100       BCL      $31,200
              RFA   $ 9,100       BMT   $35,800       BFY      $30,600
              RNY   $ 9,100       BSD   $26,900       BYM      $39,700
              BPS   $13,200       BBF   $30,300       BCK      $35,600
              BNA   $79,100       BFZ   $31,100       BAF      $36,300
              BFK   $34,000       BNY   $30,900       BSE      $35,800
              BNJ   $30,400       BPK   $31,700       BPP(1)   $32,800
              BJZ   $30,500       BHK   $38,000       BLW(1)   $37,300
              BLH   $30,200       BBK   $31,800       BKK(1)   $31,400
              BHD   $30,400       BZA   $30,400       BFO(1)   $29,700
              BRF   $24,300       BIE   $30,400       BDV(1)   $0

- ----------------
(1) BPP, BLW, BKK, BFO and BDV have not completed a full fiscal year. However,
BPP, BLW, BKK and BFO have nonetheless paid to D&T fees for professional
services rendered for the audit of their annual financial statements.

            The aggregate fees billed to each Trust(1) by D&T for professional
services rendered for the audit of each Trust's annual financial statements for
the fiscal year preceding the most recent one were in the following amounts:

              BKN   $29,300       BLN   $22,000       BZM   $   29,500
              BRM   $34,100       BCT   $15,000       BLJ   $   29,600
              BFC   $21,800       BHY   $19,200       BQH   $   29,700
              BKT   $53,200       BAT   $23,500       BHV   $   13,900
              BQT   $48,300       RAA   $ 7,500       BLE   $   34,500
              BMN   $41,900       RNJ   $ 7,500       BCL   $   30,900
              RFA   $ 7,500       BMT   $31,900       BFY   $   30,200
              RNY   $ 7,600       BSD   $22,800
              BPS   $10,900       BBF   $30,300
              BNA   $74,000       BFZ   $31,800
              BFK   $36,800       BNY   $31,400
              BNJ   $30,400       BPK   $27,900
              BJZ   $25,600       BHK   $38,000
              BLH   $24,900       BBK   $31,600
              BHD   $30,200       BZA   $29,900
              BRF   $21,100       BIE   $29,900


                                       14


(1) BYM, BCK, BAF, BSE, BLW, BPP, BKK, BFO and BDV are not included in the above
chart because such Trusts either had not completed their initial fiscal year (or
period) or had not been formed in the fiscal year preceding the most recent one.

AUDIT-RELATED FEES

            The aggregate fees billed in the most recent fiscal year (or period)
to each Trust by D&T for assurance and related services reasonably related to
the performance of the audit of each Trust's annual financial statements were as
listed below. The nature of these services was attest services not required by
statute or regulation, overhead and out-of-pocket expenses. The fees for each
Trust were in the following amounts:

              BKN   $8,000     BLN   $8,000     BZM         $5,900
              BRM   $8,000     BCT   $0         BLJ         $5,900
              BFC   $8,000     BHY   $4,600     BQH         $6,000
              BKT   $0         BAT   $0         BHV         $5,900
              BQT   $0         RAA   $0         BLE         $10,500
              BMN   $8,000     RNJ   $0         BCL         $9,300
              RFA   $0         BMT   $8,000     BFY         $9,100
              RNY   $0         BSD   $4,000     BYM         $10,800
              BPS   $4,000     BBF   $6,000     BCK         $9,100
              BNA   $0         BFZ   $6,300     BAF         $9,400
              BFK   $7,300     BNY   $6,200     BSE         $9,200
              BNJ   $6,000     BPK   $4,000     BPP(1)      $3,000
              BJZ   $4,000     BHK   $0         BLW(1)      $0
              BLH   $4,000     BBK   $6,600     BKK(1)      $3,000
              BHD   $0         BZA   $6,000     BFO(1)      $3,000
              BRF   $4,000     BIE   $6,000     BDV(1)      $0

- ----------------
(1) BPP, BLW, BKK, BFO and BDV have not completed a full fiscal year. However,
BPP, BKK and BFO have nonetheless paid to D&T fees for assurance and related
services reasonably related to the performance of the audit of their annual
financial statements.

            The aggregate fees billed in the fiscal year preceding the most
recent to each Trust(1) by D&T for assurance and related services reasonably
related to the performance of the audit of each Trust's annual financial
statements were in the amounts listed below. The nature of these services was
attest services not required by statute or regulation, overhead and
out-of-pocket expenses. The fees for each Trust were in the following amounts:

              BKN   $10,000      BLN   $8,000       BZM   $7,000
              BRM   $8,000       BCT   $0           BLJ   $7,000
              BFC   $8,000       BHY   $4,500       BQH   $7,000
              BKT   $0           BAT   $0           BHV   $7,000
              BQT   $0           RAA   $0           BLE   $0
              BMN   $8,000       RNJ   $0           BCL   $0
              RFA   $0           BMT   $8,000       BFY   $0
              RNY   $0           BSD   $8,000
              BPS   $8,000       BBF   $11,000
              BNA   $0           BFZ   $11,000
              BFK   $11,000      BNY   $11,000
              BNJ   $11,000      BPK   $8,000
              BJZ   $8,000       BHK   $0
              BLH   $8,000       BBK   $7,000
              BHD   $0           BZA   $7,000
              BRF   $8,000       BIE   $7,000


                                       15



(1) BYM, BCK, BAF, BSE, BLW, BPP, BKK, BFO and BDV are not included in the above
chart because such Trusts either had not completed their initial fiscal year (or
period) or had not yet been formed in the fiscal year preceding the most recent
one.

TAX FEES

            The aggregate fees billed in the most recent fiscal year (or period)
to each Trust by D&T for professional services rendered for tax compliance, tax
advice, and tax planning were as listed below. The nature of these services was
federal, state and local income and excise tax return preparation and related
advice and planning, determination of taxable income for CMO's, and
miscellaneous tax advice. The fees for each Trust were in the following amounts:

              BKN   $1,400       BLN   $9,200       BZM         $8,400
              BRM   $9,200       BCT   $26,600      BLJ         $8,400
              BFC   $9,200       BHY   $1,400       BQH         $8,400
              BKT   $31,500      BAT   $14,200      BHV         $8,400
              BQT   $18,000      RAA   $1,400       BLE         $2,400
              BMN   $3,200       RNJ   $1,400       BCL         $2,400
              RFA   $1,400       BMT   $9,200       BFY         $2,400
              RNY   $2,400       BSD   $10,800      BYM         $0
              BPS   $10,800      BBF   $7,700       BCK         $0
              BNA   $16,600      BFZ   $7,700       BAF         $0
              BFK   $7,700       BNY   $10,700      BSE         $0
              BNJ   $7,700       BPK   $10,200      BPP(1)      $25,000
              BJZ   $10,200      BHK   $10,400      BLW(1)      $0
              BLH   $10,200      BBK   $8,400       BKK(1)      $1,500
              BHD   $8,400       BZA   $8,400       BFO(1)      $1,500
              BRF   $9,200       BIE   $7,400       BDV(1)      $0

- ----------------
(1) BPP, BLW, BKK, BFO and BDV have not completed their initial fiscal year.
However, BPP, BKK and BFO have nonetheless paid to D&T fees for professional
services rendered for tax compliance, tax advice, and tax planning.

            The aggregate fees billed in the fiscal year preceding the most
recent one to each Trust(1) by D&T for tax compliance, tax advice, and tax
planning were as listed below. The nature of these services was federal, state
and local income and excise tax return preparation and related advice and
planning, determination of taxable income for CMO's, and miscellaneous tax
advice. The fees for each Trust were in the following amounts:

              BKN   $6,100       BLN   $6,100       BZM          $0
              BRM   $6,900       BCT   $33,700      BLJ          $0
              BFC   $6,900       BHY   $1,400       BQH          $0
              BKT   $50,200      BAT   $21,900      BHV          $0
              BQT   $33,400      RAA   $0           BLE          $0
              BMN   $1,400       RNJ   $0           BCL          $0
              RFA   $0           BMT   $7,900       BFY          $0
              RNY   $0           BSD   $8,200
              BPS   $8,200       BBF   $6,500
              BNA   $38,800      BFZ   $7,900
              BFK   $6,500       BNY   $8,500
              BNJ   $6,500       BPK   $7,500
              BJZ   $7,500       BHK   $6,000
              BLH   $7,500       BBK   $0
              BHD   $0           BZA   $0
              BRF   $6,100       BIE   $0


                                       16


(1) BYM, BCK, BAF, BSE, BLW, BPP, BKK, BFO and BDV are not included in the above
chart because such Trusts either had not completed their initial fiscal year (or
period) or had not yet been formed in the fiscal year preceding the most recent
one.

ALL OTHER FEES

            No Trust paid D&T for services other than those described above
during the most recent fiscal year (or period) or the fiscal year preceding the
most recent one.

AGGREGATE NON-AUDIT FEES

            The aggregate non-audit fees billed in the most recent fiscal year
(or period) by D&T for services rendered to the Trusts were in the following
amounts:

            BKN    $9,400       BLN   $17,200      BZM     $14,300
            BRM    $17,200      BCT   $26,600      BLJ     $14,300
            BFC    $17,200      BHY   $6,000       BQH     $14,400
            BKT    $31,500      BAT   $14,200      BHV     $14,300
            BQT    $18,000      RAA   $1,400       BLE     $12,900
            BMN    $11,200      RNJ   $1,400       BCL     $11,700
            RFA    $1,400       BMT   $17,200      BFY     $11,500
            RNY    $2,400       BSD   $14,800      BYM     $10,800
            BPS    $14,800      BBF   $13,700      BCK     $9,100
            BNA    $16,600      BFZ   $14,000      BAF     $9,400
            BFK    $15,000      BNY   $16,900      BSE     $9,200
            BNJ    $13,700      BPK   $14,200      BPP(1)  $28,000
            BJZ    $14,200      BHK   $10,400      BLW(1)  $0
            BLH    $14,200      BBK   $15,000      BKK(1)  $4,500
            BHD    $8,400       BZA   $14,400      BFO(1)  $4,500
            BRF    $13,200      BIE   $13,400      BDV(1)  $0

- ------------------
(1) BPP, BLW, BKK, BFO and BDV have not completed their initial fiscal year.

            The aggregate non-audit fees billed in the fiscal year preceding the
most recent one by D&T for services rendered to the Trusts(1) were in the
following amounts:

            BKN      $16,100      BLN   $14,100      BZM   $7,000
            BRM      $14,900      BCT   $33,700      BLJ   $7,000
            BFC      $14,900      BHY   $5,900       BQH   $7,000
            BKT      $50,200      BAT   $21,900      BHV   $7,000
            BQT      $33,400      RAA   $0           BLE   $0
            BMN      $9,400       RNJ   $0           BCL   $0
            RFA      $0           BMT   $15,900      BFY   $0
            RNY      $0           BSD   $16,200
            BPS      $16,200      BBF   $17,500
            BNA      $38,800      BFZ   $18,900
            BFK      $17,500      BNY   $19,500
            BNJ      $17,500      BPK   $15,500
            BJZ      $15,500      BHK   $6,000
            BLH      $15,500      BBK   $7,000
            BHD      $0           BZA   $7,000
            BRF      $14,100      BIE   $7,000


                                       17



 (1) BYM, BCK, BAF, BSE, BLW, BPP, BKK, BFO and BDV are not included in the
above chart because such Trusts either had not completed their initial fiscal
year (or period) or had not yet been formed in the fiscal year preceding the
most recent one.

            In addition, the aggregate non-audit fees billed by D&T for services
rendered to the Advisor, or any entity controlling, controlled by, or under
common control with the Advisor that provides ongoing services to the Trusts
were $0, for the most recent fiscal year of the Trusts and $0, for the fiscal
year preceding the most recent one of the Trusts.

AUDIT COMMITTEE'S PRE-APPROVAL POLICIES AND PROCEDURES

            On May 22, 2003, the Audit Committee of each Trust adopted
Pre-Approval Policies and Procedures. Since the adoption of such policies and
procedures, the Audit Committee of each Trust has pre-approved all audit and
non-audit services provided by D&T for the Trusts, and all non-audit services
provided by D&T for the Advisor, or any entity controlling, controlled by, or
under common control with the Advisor that provides ongoing services to the
Trusts, which are related to the operations of the Trusts.

            The Advisor and affiliates of the Advisor performing services for
one or more Trusts paid no fees to D&T in any Trust's most recent fiscal year
for services other than those described above or for any other services,
including for information systems design and implementation.

PRINCIPAL EXECUTIVE OFFICES

            The principal executive office of each Trust is located at 100
Bellevue Parkway, Wilmington, Delaware 19809.

PRINCIPAL SHAREHOLDERS

            As of February 27, 2004, to the knowledge of each Trust, no person
beneficially owned more than 5% of any Trust, except as set forth in the
following table:



                                                             AMOUNT OF
                       NAME & ADDRESS OF                     BENEFICIAL
   TRUST               BENEFICIAL OWNER                      OWNERSHIP          PERCENT OF CLASS
   -----               ------------------                    -----------        ----------------
                                                                            
    BRM           Karpus Management, Inc.                    2,504,548                9.2%
                  14 Tobey Village Office Park
                  Pittsford, New York 14534

    BNA           Wachovia Corporation                       7,217,003               21.0%
                  One Wachovia Center
                  Charlotte, North Carolina 28288-
                  0137

    BCT           Karpus Management, Inc.                     149,225                 5.1%
                  14 Tobey Village Office Park
                  Pittsford, New York 14534

    BAT           Karpus Management, Inc.                    1,244,815               13.1%
                  14 Tobey Village Office Park
                  Pittsford, New York 14534

    BAT           SIT Investment Associates, Inc.             948,800                10.0%
                  4600 Norwest Center
                  90 South Seventh Street
                  Minneapolis, MN 55402

    RAA           M.H. Whittier Corporation,                  242,400                24.1%
                  James E. Greene, Arlo G.
                  Sorensen, Michael J. Casey &
                  Whittier Trust Company,
                  1600 Huntington Drive, South
                  Pasadena, California 91030

    BLN           Karpus Management, Inc.                    1,556,730               13.8%
                  14 Tobey Village Office Park
                  Pittsford, New York 14534

            With respect to the above chart, all shares are common shares.


                                       18



FINANCIAL STATEMENTS AND OTHER INFORMATION

            EACH TRUST WILL FURNISH, WITHOUT CHARGE, A COPY OF SUCH TRUST'S MOST
RECENT ANNUAL REPORT AND THE MOST RECENT SEMI-ANNUAL REPORT SUCCEEDING THE
ANNUAL REPORT, IF ANY, TO ANY SHAREHOLDER UPON REQUEST. REQUESTS SHOULD BE
DIRECTED TO BLACKROCK ADVISORS, INC., 100 BELLEVUE PARKWAY, WILMINGTON, DE 19809
(TELEPHONE NUMBER (800) 227-7BFM (7236)).

            Monthly performance and other information regarding the Trusts may
be found on BlackRock's website, which can be accessed at
http://www.blackrock.com/funds/cefunds/index.html. This reference to BlackRock's
website is intended to allow investors to access information regarding the
Trusts and does not, and is not intended to, incorporate BlackRock's website
into this Proxy Statement.

SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

Section 16(a) of the Securities Exchange Act of 1934 and Section 30(h) of the
1940 Act require each Trust's officers and Directors, officers and directors of
the Trusts' investment advisor, affiliated persons of the investment advisor,
and persons who beneficially own more than ten percent of the Trusts' shares to
file certain reports of ownership ("Section 16 filings") with the SEC and the
New York Stock Exchange or the American Stock Exchange (as applicable) and each
of the Trusts. Based upon each Trust's review of the copies of such forms
effecting the Section 16 filings received by it, each Trust believes that for
its fiscal year ended in 2003, all filings applicable to such persons were
completed and filed, except that, due to an administrative oversight, Form 3s
with respect to BDV for the Trust's two portfolio managers were filed late in
January of 2004.

PRIVACY PRINCIPLES OF THE TRUSTS

            The Trusts are committed to maintaining the privacy of shareholders
and to safeguarding their non-public personal information. The following
information is provided to help you understand what personal information the
Trusts collect, how the Trusts protect that information and why, in certain
cases, the Trusts may share information with select other parties.

            Generally, the Trusts do not receive any non-public personal
information relating to their shareholders, although certain non-public personal
information of their shareholders may become available to the Trusts. The Trusts
do not disclose any non-public personal information about their shareholders or
former shareholders to anyone, except as permitted by law or as is necessary in
order to service shareholder accounts (for example, to a transfer agent or third
party administrator).

            The Trusts restrict access to non-public personal information about
the shareholders to employees of the Advisor with a legitimate business need for
the information. The Trusts maintain physical, electronic and procedural
safeguards designed to protect the non-public personal information of their
shareholders.

DEADLINE FOR SHAREHOLDER PROPOSALS

            Shareholder proposals intended for inclusion in the Trusts' proxy
statement in connection with the Trusts' 2005 annual meeting of shareholders
pursuant to Rule 14a-8 under the Securities Exchange Act of 1934 must be
received by a Trust at such Trust's principal executive offices by December 16,
2004. In order for proposals made outside of Rule 14a-8 under the Exchange Act
to be considered "timely" within the meaning of Rule 14a-4(c) under the Exchange
Act, such proposals must be received by a Trust at the Trust's principal
executive offices not later than February 28, 2005.


                                       19



OTHER MATTERS

            The management of the Trusts knows of no other matters which are to
be brought before the Annual Meeting. However, if any other matters not now
known properly come before the Annual Meeting, it is the intention of the
persons named in the enclosed form of proxy to vote such proxy in accordance
with their judgment on such matters.

                                             Very truly yours,



                                             RALPH L. SCHLOSSTEIN
                                             Chairman



                                             ROBERT S. KAPITO
                                             President


April 21, 2004


                                       20



                                                                      APPENDIX A


A list of the Trusts setting forth each Trust's full name and trading symbol is
set forth below:

                                                                        TRADING
NAME                                                                    SYMBOL
- ----                                                                    -------

THE BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.                   BKN
THE BLACKROCK INSURED MUNICIPAL 2008 TERM TRUST INC.                    BRM
THE BLACKROCK CALIFORNIA INSURED MUNICIPAL 2008 TERM TRUST INC.         BFC
THE BLACKROCK FLORIDA INSURED MUNICIPAL 2008 TERM TRUST                 BRF
THE BLACKROCK NEW YORK INSURED MUNICIPAL 2008 TERM TRUST INC.           BLN
THE BLACKROCK BROAD INVESTMENT GRADE 2009 TERM TRUST INC.               BCT
THE BLACKROCK INCOME TRUST INC.                                         BKT
THE BLACKROCK HIGH YIELD TRUST                                          BHY
THE BLACKROCK INVESTMENT QUALITY TERM TRUST INC.                        BQT
THE BLACKROCK ADVANTAGE TERM TRUST INC.                                 BAT
THE BLACKROCK MUNICIPAL TARGET TERM TRUST INC.                          BMN
THE BLACKROCK CALIFORNIA INVESTMENT QUALITY MUNICIPAL TRUST INC.        RAA
THE BLACKROCK FLORIDA INVESTMENT QUALITY MUNICIPAL TRUST                RFA
THE BLACKROCK NEW JERSEY INVESTMENT QUALITY MUNICIPAL TRUST INC         RNJ
THE BLACKROCK NEW YORK INVESTMENT QUALITY MUNICIPAL TRUST INC.          RNY
THE BLACKROCK INCOME OPPORTUNITY TRUST INC.                             BNA
THE BLACKROCK INSURED MUNICIPAL TERM TRUST INC.                         BMT
THE BLACKROCK PENNSYLVANIA STRATEGIC MUNICIPAL TRUST                    BPS
THE BLACKROCK STRATEGIC MUNICIPAL TRUST                                 BSD
BLACKROCK FLORIDA MUNICIPAL INCOME TRUST                                BBF
BLACKROCK MUNICIPAL INCOME TRUST                                        BFK
BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST                             BFZ
BLACKROCK NEW JERSEY MUNICIPAL INCOME TRUST                             BNJ
BLACKROCK NEW YORK MUNICIPAL INCOME TRUST                               BNY
BLACKROCK CALIFORNIA MUNICIPAL 2018 TERM TRUST                          BJZ
BLACKROCK MUNICIPAL 2018 TERM TRUST                                     BPK
BLACKROCK NEW YORK MUNICIPAL 2018 TERM TRUST                            BLH
BLACKROCK CORE BOND TRUST                                               BHK
BLACKROCK STRATEGIC BOND TRUST                                          BHD
BLACKROCK MUNICIPAL BOND TRUST                                          BBK
BLACKROCK CALIFORNIA MUNICIPAL BOND TRUST                               BZA
BLACKROCK FLORIDA MUNICIPAL BOND TRUST                                  BIE
BLACKROCK MARYLAND MUNICIPAL BOND TRUST                                 BZM
BLACKROCK NEW JERSEY MUNICIPAL BOND TRUST                               BLJ
BLACKROCK NEW YORK MUNICIPAL BOND TRUST                                 BQH
BLACKROCK VIRGINIA MUNICIPAL BOND TRUST                                 BHV
BLACKROCK MUNICIPAL INCOME TRUST II                                     BLE
BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST II                          BCL
BLACKROCK NEW YORK MUNICIPAL INCOME TRUST II                            BFY
BLACKROCK INSURED MUNICIPAL INCOME TRUST                                BYM
BLACKROCK CALIFORNIA INSURED MUNICIPAL INCOME TRUST                     BCK
BLACKROCK FLORIDA INSURED MUNICIPAL INCOME TRUST                        BAF
BLACKROCK NEW YORK INSURED MUNICIPAL INCOME TRUST                       BSE
BLACKROCK PREFERRED OPPORTUNITY TRUST                                   BPP
BLACKROCK LIMITED DURATION INCOME TRUST                                 BLW
BLACKROCK MUNICIPAL 2020 TERM TRUST                                     BKK
BLACKROCK FLORIDA MUNICIPAL 2020 TERM TRUST                             BFO
BLACKROCK DIVIDEND ACHIEVERSTM TRUST                                    BDV


                                       21



                                                                      APPENDIX B

                               OUTSTANDING SHARES

            The following table sets forth the number of outstanding shares for
each Trust at the close of business on February 27, 2004:

                     OUTSTANDING SHARES OF                 OUTSTANDING SHARES OF
TRUST                    COMMON STOCK                         PREFERRED STOCK
- -----                    ------------                         ----------------
BKN                       16,707,093                              5,862
BRM                       27,207,093                              10,840
BFC                       10,407,093                              4,182
BRF                       8,707,093                               3,366
BLN                       11,257,093                              4,382
BCT                       2,957,093                                 --
BKT                       63,480,331                                --
BHY                       6,388,428                                 --
BQT                       36,810,639                                --
BAT                       9,510,667                                 --
BMN                       45,410,639                              11,964
RAA                       1,007,093                                300
RFA                       1,127,093                                340
RNJ                       1,007,093                                300
RNY                       1,307,093                                392
BNA                       34,449,693                                --
BMT                       25,885,639                              6,816
BPS                       2,015,492                                700
BSD                       7,242,261                               2,480
BBF                       6,646,343                               2,302
BFK                       43,571,065                              15,005
BFZ                       14,985,501                              5,278
BNJ                       7,414,793                               2,552
BNY                       12,521,494                              4,390
BJZ                       6,433,028                               2,221
BPK                       15,908,028                              5,504
BLH                       3,633,028                               1,256
BHK                       27,018,774                                --
BHD                       7,041,375                                 --
BBK                       10,123,055                              3,620
BZA                       3,351,150                               1,199
BIE                       3,309,483                               1,191
BZM                       2,014,422                                720
BLJ                       2,269,366                                809
BQH                       2,700,991                                968
BHV                       1,519,917                                541
BLE                       22,781,072                              8,222
BCL                       7,981,621                               2,878
BFY                       4,935,268                               1,786
BYM                       26,149,334                              9,159
BCK                       5,267,067                               1,860
BAF                       8,718,824                               3,040
BSE                       6,436,539                               2,240
BPP                       18,305,777                              8,832
BLW                       36,706,021                                --
BKK                       20,236,628                              7,104
BFO                       5,562,128                               1,956
BDV                       54,008,028                                --


            For each Trust in the above table, the class or classes of shares
listed above are the only authorized class or classes of shares.

                                       22



                                                                      APPENDIX C

                          JOINT AUDIT COMMITTEE CHARTER
                                       OF
                         THE BLACKROCK CLOSED-END FUNDS

                     AS APPROVED BY THE GOVERNANCE COMMITTEE
                                 FEBRUARY 2004(1)


                        I. PURPOSE OF THE AUDIT COMMITTEE

            The purpose of the Audit Committee (the "AUDIT COMMITTEE") of the
Board of Trustees/Directors (the "BOARD") of each BlackRock Closed-End Fund and
BlackRock Bond Allocation Target Shares (each a "TRUST")(2) is to provide
assistance to the Board in fulfilling its legal and fiduciary obligations with
respect to matters involving the accounting, auditing, financial reporting and
internal control functions of the Trust, including, without limitation, (a)
assisting the Board's oversight of (i) the integrity of the Trust's financial
statements, (ii) the Trust's compliance with legal and regulatory requirements,
and (iii) the qualifications and independence of the Trust's independent auditor
(the "INDEPENDENT AUDITOR"), and (b) preparing the report required to be
prepared by the Audit Committee pursuant to the rules of the Securities and
Exchange Commission (the "SEC") for inclusion in the Trust's annual proxy
statement, if any.

                     II. COMPOSITION OF THE AUDIT COMMITTEE

            The Audit Committee shall be comprised of three or more
trustees/directors as determined from time to time by resolution of the Trust's
Governance Committee. Each member of the Audit Committee shall be qualified to
serve on the Audit Committee pursuant to the requirements of the Sarbanes -
Oxley Act of 2002 (the "ACT") and the rules and regulations promulgated by the
SEC pursuant to the Act and by the New York Stock Exchange (the "NYSE") or the
American Stock Exchange (the "AMEX"), as applicable. Each member of the Audit
Committee shall be "independent" as defined by the rules promulgated by the SEC
pursuant to the Act and the NYSE or AMEX listing standards depending on the
securities exchange on which the respective Trust's common shares are listed for
trading. If a Trust's common shares are not listed for trading on a securities
exchange, the members of that Trust's Audit Committee shall be "independent" as
defined by the NYSE listing standards.

            According to the rules and regulations promulgated by the SEC
pursuant to the Act and by the NYSE, a member is independent if he or she, other
than in his or her capacity as a member of the Board, the Audit Committee or any
other board committee, (a) does not accept directly or indirectly any
consulting, advisory or other compensatory fee from the Trust, other than
receipt of pension or other forms of deferred compensation from the Trust for
prior service, so long as such compensation is not contingent in any way on
continued service, and (b) is not an "interested person" of the Trust (an
"INDEPENDENT TRUSTEE") as defined in Section 2(a)(19) of the Investment Company
Act of 1940 (the "1940 ACT").

            According to the AMEX listing standards, a member is independent if
he or she is not an officer or employee of the Trust or a person having a
relationship which, in the opinion of the Board, would interfere with the
exercise of independent judgment in carrying out the responsibilities of a
director and (a) is not employed by the Trust or BlackRock during the current
year or any of the past three years, (b) did not receive compensation from the
Trust or BlackRock in excess of $60,000 during the previous year, other

- --------------------
(1)  This Joint Audit Committee Charter, if adopted, supercedes and replaces all
     prior versions that may have been adopted from time to time.

(2)  Solely for the sake of clarity and simplicity, this Joint Audit Committee
     Charter has been drafted as if there is a single Trust, a single Audit
     Committee, a single Governance Committee and a single Board. The terms
     "Audit Committee," "Governance Committee," "Independent Trustees" and
     "Board" mean the Audit Committee, the Governance Committee, Independent
     Trustees and the Board of each Trust, respectively, unless the context
     otherwise requires. The Audit Committee, the Governance Committee and the
     Board of each Trust, however, shall act separately and in the best
     interests of its respective Trust.


                                       24



than as compensation for board service, benefits under a tax-qualified
retirement plan or non-discretionary compensation, (c) does not have an
immediate family member who is, or has been in any of the past three years,
employed by the Trust or BlackRock, (d) is not a partner in, or controlling
shareholder or executive officer of, any for-profit business organization which
received payments from or made payments to the Trust in excess of the greater of
5% of such organization's gross revenue or $200,000 in any of the past three
years, and (e) is not employed as an executive of another entity for which any
of the Trust's or BlackRock's executives serve on that entity's compensation
committee.

            No member of the Board may serve as a member of the Audit Committee
if the member serves on the audit committee of more than two other public
companies, unless the Board determines that such simultaneous service would not
impair the ability of the member to effectively serve on the Audit Committee.

            Each member of the Audit Committee must be "financially literate"
(as such term is defined from time-to-time by the NYSE/AMEX rules) as such
qualification is interpreted by the Board in its business judgment, or must
become financially literate within a reasonable period of time after his or her
appointment to the Audit Committee. In addition, at least one member of the
Audit Committee must have "accounting or related financial management expertise"
(as such term is defined by the NYSE rules) as the Board interprets such
qualification in its business judgment. Further, either (a) at least one member
of the Audit Committee must be determined to be an "audit committee financial
expert" (as such term is defined in the rules and regulations promulgated by the
SEC pursuant to the Act) by the Board, or (b) if no member of the Audit
Committee is an "audit committee financial expert," such fact must be disclosed
in the Trust's annual report filed with the SEC. The Audit Committee shall
recommend to the Board whether one or more of its members should be deemed to be
an "audit committee financial expert" or, if not, why not, and the Board shall
make the final determinations in this regard.

            The chairperson of the Audit Committee shall be designated by the
Trust's Governance Committee, PROVIDED that if the Governance Committee does not
designate a chairperson, the members of the Audit Committee, by a majority vote,
may designate a chairperson.

            Any vacancy on the Audit Committee shall be filled by the
affirmative vote of a majority of the members of the Governance Committee at the
next meeting of the Governance Committee following the occurrence of the
vacancy. No member of the Audit Committee shall be removed except by the
affirmative vote of a majority of the members of the Governance Committee.

                      III. MEETINGS OF THE AUDIT COMMITTEE

            The Audit Committee shall fix its own rules of procedure, which
shall be consistent with the Declaration of Trust of the Trust (or other charter
document of the Trust), the By-Laws of the Trust and this Audit Committee
Charter. The Audit Committee shall meet on a regular basis and special meetings
shall be called as circumstances require. The Audit Committee, in its
discretion, may ask members of management or others to attend its meetings (or
portions thereof) and to provide pertinent information as necessary. The Audit
Committee shall meet separately on a periodic basis with (a) the chief financial
officer of the Trust, (b) management of BlackRock responsible for assisting with
the preparation of the Trust's financial statements and (c) the Independent
Auditor, in each case to discuss any matters that the Audit Committee or any of
the above persons or firms believe should be discussed privately. The Audit
Committee shall fix its own rules of procedure, which shall be consistent with
the Declaration of Trust of the Trust, the Bylaws of the Trust and this Audit
Committee Charter.

            A majority of the members of the Audit Committee present in person
or by means of a conference telephone or other communication equipment by means
of which all persons participating in the meeting can communicate with each
other shall constitute a quorum, PROVIDED THAT, once annually, at the meeting
for selecting the Independent Auditor, a majority of the members of the Audit
Committee present in person shall constitute a quorum. The Audit Committee may
also take action by the written consent of a majority of its members, except to
the extent an in-person meeting is required by the preceding sentence or
required by applicable law.

            For the sake of increased efficiency and for the dissemination of
knowledge throughout the closed-end fund complex, each Audit Committee may meet
jointly with any other Audit Committee in the closed-end fund complex.

            The Audit Committee shall cause to be maintained minutes of all
meetings and records relating to those meetings and provide copies of such
minutes to the Board and the Trust.


                                  IV. AUTHORITY

            The Audit Committee shall have the authority to carry out its duties
and responsibilities as set forth in this Joint Audit Committee Charter, to
institute investigations of suspected improprieties and to retain independent
counsel or seek assistance from experts.


                                       25



              V. DUTIES AND RESPONSIBILITIES OF THE AUDIT COMMITTEE

            In carrying out its duties and responsibilities, the Audit
Committee's policies and procedures will remain flexible, so that it may be in a
position to best react or respond to changing circumstances or conditions. The
following are the duties and responsibilities of the Audit Committee:

(a)         Oversight of the Auditor's Engagement/Independence

            (i) Approve the selection and retention (subject to ratification by
a majority of the Independent Trustees), termination and compensation of the
Independent Auditor to audit the books and accounts of the Trust and its
subsidiaries, if any, for each fiscal year;

            (ii) Review and, in its sole discretion, approve in advance the
Independent Auditor's annual engagement letter, including the proposed fees
contained therein;

            (iii) Pre-approve (A) all engagements for audit and non-audit
services to be provided by the Independent Auditor to the Trust and (B) all
engagements for non-audit services to be provided by the Independent Auditor (1)
to BAI or (2) to any entity controlling, controlled by or under common control
with BAI that provides ongoing services to the Trust; but in the case of the
services described in subsection (B)(1) or (2), only if the engagement relates
directly to the operations and financial reporting of the Trust (clauses (A) and
(B), collectively, the "COVERED SERVICES" and the entities referred to in clause
(B), collectively, the "COVERED ENTITIES"); provided that pre-approval by the
Audit Committee of Covered Services may be effected pursuant to the procedures
described below in Section VI captioned "PRE-APPROVAL PROCEDURES"; provided that
this Audit Committee Charter shall not be violated if pre-approval of any
non-audit Covered Service is not obtained in circumstances in which the
pre-approval requirement is waived under rules promulgated by the SEC under the
Act or the NYSE or Amex listing standards;

            (iv) Obtain at least annually from the Independent Auditor and
review a report describing:

                 (A) the Independent Auditor's internal quality-control
                     procedures; and

                 (B) any material issues raised by the most recent internal
                     quality-control review of the Independent Auditor, or by
                     any inquiry or investigation by any governmental or
                     professional authority, within the preceding five years,
                     respecting one or more independent audits carried out by
                     the Independent Auditor, and any steps taken to deal with
                     any such issues;

            (v) Obtain quarterly "notice reports" for the Trust (and, if the
quarterly communication is not within 90 days prior to the filing of an audit
report with the SEC for the Trust, provide an update with any changes to the
previously reported information) from the Independent Auditor and review a
report notifying the Audit Committee of all audit and non-audit services that
were not pre-approved by the Trust's Audit Committee provided (A) to BAI, (B) to
any entity controlling, controlled by or under common control with BAI, and (C)
to any registered or unregistered investment company advised by an investment
advisor included in subsection (A) or (B) of this paragraph. In the interval
between scheduled meetings of the Audit Committee, the Independent Auditor shall
provide such "notice reports" or updates to the Chairman of the Audit Committee.
Such disclosure shall include the fees associated with any services described in
this paragraph;

            (vi) Review at least annually the qualifications, performance and
independence of the Independent Auditor, including the performance of the lead
partner of the Independent Auditor, and, in its discretion, make decisions
regarding the replacement or termination of the Independent Auditor when
circumstances warrant;

            (vii) Oversee the independence of the Independent Auditor by, among
other things:

                 (A) actively engaging in a dialogue with the Independent
                     Auditor with respect to any disclosed relationships or
                     services that may impact the objectivity and independence
                     of the Independent Auditor, and taking appropriate action
                     to satisfy itself of the auditor's independence;

                 (B) monitoring compliance by the Independent Auditor with the
                     audit partner rotation requirements contained in the Act
                     and the rules and regulations promulgated by the SEC
                     thereunder;

                 (C) monitoring compliance by the Trust, BlackRock and the
                     Independent Auditor with the employee conflict of interest
                     requirements contained in the Act and the rules and
                     regulations promulgated by the SEC thereunder; and

                 (D) considering whether there should be a regular rotation of
                     the Independent Auditor; and


                                       26



            (viii) Instruct the Independent Auditor that it is ultimately
accountable to the Audit Committee, and that the Audit Committee is responsible
for the appointment (subject to ratification by the Independent Trustees),
retention, compensation, evaluation and termination of the Independent Auditor.

(b) Oversight of the Audit

            (i) Review the annual audit plan of the Independent Auditor,
including the scope of audit activities, monitor such plan's progress, changes
thereto and results periodically during the year and review the results of the
year-end audit of the Trust, including any comments or recommendations of the
Independent Auditor;

            (ii) Obtain at least annually for the Trust from the Independent
Auditor and review a report describing:

                 (A) all critical accounting policies and practices used;

                 (B) all alternative treatments within United States Generally
                     Accepted Accounting Principles for policies and practices
                     related to material items that have been discussed with
                     management of the Trust, including (1) ramifications of the
                     use of such alternative disclosures and treatments, and (2)
                     the treatment preferred by Independent Auditor; and

                 (C) other material written communications between the
                     Independent Auditor and management of the Trust, such as
                     any management letter or schedule of unadjusted
                     differences;

            (iii) Review with the chief financial officer of the Trust and
management of BlackRock responsible for assisting the preparation of the Trust's
financial statements and the Independent Auditor, the following:

                 (A) the Trust's annual audited financial statements and interim
                     financial statements, and any major issues related thereto;

                 (B) critical accounting policies and such other accounting
                     policies of the Trust as are deemed appropriate for review
                     by the Audit Committee prior to any interim or year-end
                     filings with the SEC or other regulatory body, including
                     any financial reporting issues which could have a material
                     impact on the Trust's financial statements; and

                 (C) the effect of regulatory, accounting and financial
                     reporting initiatives on the financial statements of the
                     Trust;

            (iv) Review on a regular basis with the Independent Auditor any
problems or difficulties encountered by the Independent Auditor in the course of
any audit work, including management's response with respect thereto, any
restrictions on scope of the Independent Auditor's activities or on access to
requested information, and any significant disagreements with management. In
connection therewith, the Audit Committee will review with the Independent
Auditor the following:

                 (A) any accounting adjustments that were noted or proposed by
                     the Independent Auditor but were rejected by management (as
                     immaterial or otherwise);

                 (B) any communications between the audit team and the
                     Independent Auditor's national office respecting auditing
                     or accounting issues presented by the engagement; and

                 (C) any "management" or "internal control" letter issued, or
                     proposed to be issued, by the Independent Auditor the
                     Trust;

            (v) Attempt to resolve all disagreements between the Independent
Auditor and management regarding financial reporting; and

            (vi) Review information obtained from the Independent Auditor
pursuant to Section 10A of the Securities Exchange Act of 1934.

(c) Oversight of Controls and Procedures

            (i) Review periodically a report from the Trust's chief executive
officer, chief financial officer and Independent Auditor, at least annually,
regarding the following:

                 (A) all significant deficiencies in the design or operation of
                     internal controls of the Trust, any entity in the
                     investment company complex (as such term is defined in
                     Regulation S-X promulgated by the SEC) that is


                                       27



                              responsible for the financial reporting or
                              operations of the Trust (the "RELATED ENTITIES"),
                              or, to the knowledge of such persons, other
                              service providers, which could adversely affect
                              the Trust's ability to record, process, summarize,
                              and report financial data, including any material
                              weaknesses in internal controls identified by the
                              Independent Auditor;

                 (B) any fraud, whether or not material, that involves
                     management or other employees of the Trust, the Related
                     Entities, or, to the knowledge of such persons, other
                     service providers to the Trust who have a significant role
                     in the Trust's internal controls; and

                 (C) any significant changes in internal controls or in other
                     factors that could significantly affect internal controls,
                     including any corrective actions with regard to significant
                     deficiencies and material weaknesses related to the Trust,
                     the Related Entities, or, to the knowledge of such persons,
                     other service providers to the Trust.

(d) Compliance

            (i) Establish and maintain free and open means of communication
between and among the Board, the Audit Committee, the Independent Auditor, the
Trust's management, including the chief financial officer, management of
BlackRock and management of those service providers of the Trust deemed
appropriate by the Audit Committee, including providing such parties with
appropriate opportunities to meet separately and privately with the Audit
Committee on a periodic basis as the Audit Committee may deem necessary or
appropriate;

            (ii) Establish procedures for (A) the receipt, retention and
treatment of complaints received by the Trust regarding accounting, internal
accounting controls or auditing matters, and (B) the confidential, anonymous
submission by employees of the Related Entities, other service providers
responsible for such services, including the custodian and transfer agent, or
other persons of concern regarding questionable accounting or auditing matters;
and

            (iii) Secure independent expert advice to the extent the Audit
Committee determines it to be appropriate, including retaining, with or without
approval of the Board, independent counsel, accountants, consultants or others,
to assist the Audit Committee in fulfilling its duties and responsibilities, the
cost of such independent expert advisors to be borne by the Trust.

(e) Miscellaneous

            (i) Prepare an annual performance evaluation of the Audit Committee,
which evaluation must compare the performance of the Audit Committee with the
requirements of this Joint Audit Committee Charter, and set forth the goals and
objectives of the Audit Committee for the upcoming year. The evaluation will
include a review and assessment of the adequacy of this Audit Committee Joint
Charter. The performance evaluation by the Audit Committee shall be conducted in
such manner as the Audit Committee deems appropriate;

            (ii) Report regularly to the Board on its activities, as
appropriate; and

            (iii) Perform such additional activities, and consider such other
matters, within the scope of its duties and responsibilities, as the Audit
Committee, the Governance Committee or the Board deems necessary or appropriate.

                           VI. PRE-APPROVAL PROCEDURES

            The Audit Committee shall prepare written pre-approval procedures
pursuant to which it may pre-approve Covered Services. The Audit Committee, in
its discretion, may elect to delegate to one or more of its members authority to
pre-approve Covered Services between regularly scheduled meetings of the Audit
Committee. The Audit Committee shall review and approve its pre-approval
procedures at least annually.

                                 VII. REPORTING

            The Audit Committee shall report its activities to the Board on a
regular basis, so that the Board is kept informed of its activities on a current
basis. In connection therewith, the Audit Committee will review with the Board
any issues that arise with respect to the quality or integrity of the Trust's
financial statements, the Trust's compliance with legal or regulatory
requirements, the performance and independence of the Independent Auditors. In
particular, the Audit Committee will also report to the Board its conclusions
with respect to matters the Audit Committee considers to be of interest or the
Governance Committee or the Board requests. Reports to the Board may take the
form of an oral report by the chairperson of the Audit Committee or any other
member of the Audit Committee designed by the Audit Committee to make this
report.


                                       28



            The Audit Committee shall prepare the report required by the rules
of the SEC to be included in the Trust's annual proxy statement and determine to
its satisfaction that the Audit Committee has: (a) reviewed and discussed the
audited financial statements with management of the Trust; (b) discussed with
the Independent Auditor the matters required to be discussed by the Statements
on Auditing Standards No. 61, as amended; (c) received the written disclosures
and the letter from the Independent Auditor required by ISB Standard No. 1 and
have discussed with the Independent Auditor the auditor's independence; and (d)
made a recommendation to the Board as to whether the financial statements be
included in the Trust's annual report for the past fiscal year, as filed with
the SEC.

                                 VIII. RESOURCES

            The Board shall ensure that the Audit Committee has adequate
resources, as determined by the Audit Committee, with which to discharge its
responsibilities, including for the payment of (a) compensation (i) to any firm
of independent auditors engaged for the purpose of preparing or issuing an audit
report or performing other audit, review or attest services for the Trust, and
(ii) to any advisors employed by the Audit Committee, including independent
counsel, consultants or other advisors, as the Audit Committee determines
necessary to carry out its duties, and (b) ordinary administrative expenses of
the Audit Committee that are necessary or appropriate in carrying out its
duties.

                      IX. LIMITS ON ROLE OF AUDIT COMMITTEE

            While the Audit Committee has the duties and responsibilities set
forth in this Joint Audit Committee Charter, the Audit Committee is not
responsible for:

         o  planning or conducting the audit or for determining whether the
            Trust's financial statements are complete and accurate and are in
            accordance with generally accepted accounting principles;

         o  determining whether the Form N-CSR filed by the Trust with the SEC
            contains any untrue statement of a material fact or omits to state a
            material fact necessary to make the statements made, in light of the
            circumstances under which such statements were made, not misleading
            with respect to the period covered by the report;

         o  determining whether the Trust's financial statements and other
            financial information included in the Form N-CSR fairly present in
            all material respects the financial condition, results of
            operations, changes in net assets and cash flows of the Trust as of,
            and for, the periods presented in the Form N-CSR; or

         o  establishing, designing or maintaining disclosure controls and
            procedures for the Trust.


            In fulfilling its responsibilities hereunder, it is recognized that
members of the Audit Committee are not full-time employees of the Trust or
BlackRock. The Audit Committee and its members do not have a duty or
responsibility to conduct "field work" or other types of auditing or accounting
reviews or procedures or to set auditor independence standards, and each member
of the Audit Committee shall be entitled to rely on (a) the integrity of those
persons and organizations within and outside the Trust, BlackRock and service
providers to the Trust from which it receives information, (b) the accuracy of
the financial and other information provided to the Audit Committee absent
actual knowledge to the contrary (which shall be promptly reported to the Board)
and (c) statements made by management or third parties as to any information
technology, internal audit and other non-audit services provided by the
Independent Auditor to the Trust.


                                       29



                                                                      APPENDIX D

                            DIRECTORS SHARE HOLDINGS

            The following chart lists the number of shares beneficially owned
and the number of share equivalents owned by the Directors pursuant to the
Directors' deferred compensation plan as of February 27, 2004. If a Trust is not
listed, the Director does not own any shares or share equivalents of the Trust.



                                                       TRUST        SHARE
                                                       SHARES       EQUIVA-          % OF SHARES
    DIRECTOR                                TRUST      OWNED        LENTS(1)         OUTSTANDING
    --------                                -----      ------       --------         -----------
                                                                              
INTERESTED DIRECTORS:

Ralph L. Schlosstein                      BKT          6,000           --                 (2)
                                          BAT           100            --
                                          BMN           100            --
                                          BMT           100            --
                                          BRM           100            --
                                          BKN           100            --
                                          BCT           100            --
                                          BQT           100            --
                                          BSD           100            --
                                          BHY          1,000           --
                                          BNA          1,500           --
                                          BFK           100            --
                                          BPK           100            --
                                          BHK           100            --
                                          RNJ           100            --
                                          BLN           100            --
                                          BNY           100            --
                                          BLH           100            --
                                          BHD           100            --
                                          BBK           100            --
                                          BLE           100            --
                                          BYM           100            --
                                          BQH           100            --
                                          BFY           100            --
                                          BSE           100            --
                                          BPP           100            --
                                          BLW           100            --
                                          BKK           100            --
                                          BDV           100            --

Robert S. Kapito                          BKT          1,880           --                 (2)
                                          BAT            10            --
                                          BMN            10            --
                                          BMT            10            --
                                          BRM            10            --
                                          BKN            10            --
                                          BCT            10            --
                                          BQT            10            --
                                          BSD            10            --
                                          BHY            10            --
                                          BNA            10            --
                                          BFK          10,010          --
                                          BPK            10            --
                                          BHK            10            --
                                          RNJ          1,000           --
                                          BNJ          45,000          --
                                          BHD          1,000           --
                                          BBK          1,000           --
                                          BLE          21,000          --
                                          BYM           100            --
                                          BLJ          1,000           --
                                          BPP          1,000           --
                                          BLW          1,000           --
                                          BKK          1,000           --
                                          BDV          1,000           --



                                       30





                                                       TRUST        SHARE
                                                       SHARES       EQUIVA-          % OF SHARES
    DIRECTOR                                TRUST      OWNED        LENTS(1)         OUTSTANDING
    --------                                -----      ------       --------         -----------
                                                                              
INDEPENDENT DIRECTORS:

Andrew F. Brimmer                         BKT           110          2,466                (2)
                                          BAT            10          1,633
                                          BMN            10            --
                                          BMT            10            --
                                          BRM            10            --
                                          BKN            10            --
                                          BCT            20          1,263
                                          BQT            10          1,955
                                          BSD            25            --
                                          BHY           200          1,602
                                          BNA            10          1,659
                                          BFK           100            --
                                          BPK            25            --
                                          BHK            25           439
                                          BHD            25           402
                                          BBK            25            --
                                          BLE            25            --
                                          BYM            25            --
                                          BPP            10            --
                                          BLW            10            --
                                          BKK            10            --
                                          BDV            30            --

Richard E. Cavanagh                       BKT           500          6,261                (2)
                                          BAT           100           560
                                          BMN           100            --
                                          BMT           100            --
                                          BRM           100            --
                                          BKN           500            --
                                          BCT           100           390
                                          BQT           100           672
                                          BSD           500            --
                                          BHY           200          4,278
                                          BNA           100           624
                                          BFK           300            --
                                          BPK           300            --
                                          BHK           500           439
                                          BLN           100            --
                                          RNY           100            --
                                          BNY           300            --
                                          BLH           100            --
                                          BHD           300           399
                                          BBK           100            --
                                          BLE           100            --
                                          BYM           200            --
                                          BQH           100            --
                                          BFY           100            --
                                          BSE           200            --
                                          BPP           100            --
                                          BLW           100            --
                                          BKK           100            --
                                          BDV           100            --

Kent Dixon                                BKT           100           824                 (2)
                                          BAT           100           543
                                          BMN           100            --
                                          BMT           100            --
                                          BRM           100            --
                                          BKN           100            --
                                          BCT           100           371
                                          BQT           100           651
                                          BSD           100            --
                                          BHY          5,000          603
                                          BNA           100           548



                                       31





                                                       TRUST        SHARE
                                                       SHARES       EQUIVA-          % OF SHARES
    DIRECTOR                                TRUST      OWNED        LENTS(1)         OUTSTANDING
    --------                                -----      ------       --------         -----------
                                                                              
                                          BFK          5,100           --
 Kent Dixon                               BPK           100            --
 (continued)                              BHK           100           439
                                          BRF           100            --
                                          RFA           100            --
                                          BBF          2,100           --
                                          BHD           100           399
                                          BBK          5,000           --
                                          BLE           100            --
                                          BYM          5,100           --
                                          BIE           100            --
                                          BAF           100            --
                                          BPP           100            --
                                          BLW          1,000           --
                                          BKK           100            --
                                          BFO           100            --
                                          BDV          2,000           --

Frank J. Fabozzi                          BKT            10           490                 (2)
                                          BAT            10           323
                                          BMN            10            --
                                          BMT            10            --
                                          BRM            10            --
                                          BKN            10            --
                                          BCT            10           231
                                          BQT            10           391
                                          BSD           100            --
                                          BHY            10           363
                                          BNA            10           331
                                          BFK            20            --
                                          BPK            20            --
                                          BHK            20           265
                                          BPS           100            --
                                          BHD           100           235
                                          BBK            20            --
                                          BLE            10            --
                                          BYM            10            --
                                          BPP           100            --
                                          BLW           100            --
                                          BKK           100            --
                                          BDV           300            --

James Clayburn                            BKT            10          14,373               (2)
  La Force, Jr.                           BAT            10          8,793
                                          BMN            10            --
                                          BMT            10            --
                                          BRM            10            --
                                          BKN            10            --
                                          BCT            10          6,659
                                          BQT            10          10,342
                                          BSD           750            --
                                          BHY          1,000         10,135
                                          BNA            10          9,519
                                          BFK           100            --
                                          BPK           100            --
                                          BHK           100          1,933
                                          BFC          3,410           --
                                          RAA            10            --
                                          BFZ           100            --
                                          BJZ           100            --
                                          BHD            50          1,837
                                          BBK            50            --
                                          BLE            50            --
                                          BYM          1,000           --
                                          BZA          6,665           --
                                          BCL            50            --


                                       32





                                                       TRUST        SHARE
                                                       SHARES       EQUIVA-          % OF SHARES
    DIRECTOR                                TRUST      OWNED        LENTS(1)         OUTSTANDING
    --------                                -----      ------       --------         -----------
                                                                              
                                          BCK          1,000          --
                                          BPP           100           --
                                          BLW           300           --
                                          BKK           300           --
                                          BDV           200           --

Walter F. Mondale                         BKT            20          5,614                 (2)
                                          BAT            20          3,461
                                          BMN          1,020           --
                                          BMT          1,020           --
                                          BRM            20            --
                                          BKN            20            --
                                          BCT            20          2,574
                                          BQT            20          3,920
                                          BSD            20            --
                                          BHY           300            --
                                          BNA            20          3,669
                                          BFK            20            --
                                          BPK          1,000           --
                                          BHK          1,000          587
                                          BHD            20           587
                                          BBK            20            --
                                          BLE            20            --
                                          BYM            50            --
                                          BPP            50            --
                                          BLW            30            --
                                          BKK            30            --
                                          BDV            50            --


- --------------------
(1)  Represents, as of February 27, 2004, the approximate number of share
     equivalents owned under the deferred compensation plan in each Trust by the
     Independent Directors of the Trusts who have participated in the deferred
     compensation plan. Share equivalents are held in cash accounts by each
     Trust on behalf of the Independent Directors in connection with the
     deferred compensation plan. Under the deferred compensation plan, BAT, BCT,
     BHY, BKT, BNA, BQT, BHD and BHK are eligible investments. Messrs.
     Schlosstein and Kapito are not eligible to participate in the deferred
     compensation plan.

(2)  Less than 1% of each Trust listed.


                                       33



            The following table sets forth the dollar range of equity securities
beneficially owned and share equivalents held by each Director as of February
27, 2004. If a Trust is not listed, the Director does not own any shares of the
Trust.



                                                                                                                    AGGREGATE DOLLAR
NAME                              DOLLAR RANGE OF EQUITY        AGGREGATE DOLLAR        DOLLAR RANGE OF SHARE       RANGE OF EQUITY
                                SECURITIES IN EACH TRUST(1)      RANGE OF EQUITY       EQUIVALENTS IN EACH TRUST     SECURITIES AND
                                ----------------------------    SECURITIES OF ALL      -------------------------   SHARE EQUIVALENTS
                                TRUST         DOLLAR RANGE           TRUSTS(1)          TRUST      DOLLAR RANGE    OF ALL THE TRUSTS
                                -----         --------------    -----------------       ----       ------------    -----------------
INTERESTED DIRECTORS:

                                                                                                  
Ralph L. Schlosstein             BKT      $10,001-$50,000          Over $100,000          BKT          --           Over $100,000(1)
                                 BAT         $1-$10,000                                   BAT          --
                                 BMN         $1-$10,000                                   BMN          --
                                 BMT         $1-$10,000                                   BMT          --
                                 BRM         $1-$10,000                                   BRM          --
                                 BKN         $1-$10,000                                   BKN          --
                                 BCT         $1-$10,000                                   BCT          --
                                 BQT         $1-$10,000                                   BQT          --
                                 BSD         $1-$10,000                                   BSD          --
                                 BHY      $10,001-$50,000                                 BHY          --
                                 BNA      $10,001-$50,000                                 BNA          --
                                 BFK         $1-$10,000                                   BFK          --
                                 BPK         $1-$10,000                                   BPK          --
                                 BHK         $1-$10,000                                   BHK          --
                                 RNJ         $1-$10,000                                   RNJ          --
                                 BLN         $1-$10,000                                   BLN          --
                                 BNY         $1-$10,000                                   BNY          --
                                 BLH         $1-$10,000                                   BLH          --
                                 BHD         $1-$10,000                                   BHD          --
                                 BBK         $1-$10,000                                   BBK          --
                                 BLE         $1-$10,000                                   BLE          --
                                 BYM         $1-$10,000                                   BYM          --
                                 BQH         $1-$10,000                                   BQH          --
                                 BFY         $1-$10,000                                   BFY          --
                                 BSE         $1-$10,000                                   BSE          --
                                 BPP         $1-$10,000                                   BPP          --
                                 BLW         $1-$10,000                                   BLW          --
                                 BKK         $1-$10,000                                   BKK          --
                                 BDV         $1-$10,000                                   BDV          --

Robert S. Kapito                 BKT      $10,001-$50,000          Over $100,000          BKT          --           Over $100,000(1)
                                 BAT         $1-$10,000                                   BAT          --
                                 BMN         $1-$10,000                                   BMN          --
                                 BMT         $1-$10,000                                   BMT          --
                                 BRM         $1-$10,000                                   BRM          --
                                 BKN         $1-$10,000                                   BKN          --
                                 BCT         $1-$10,000                                   BCT          --
                                 BQT         $1-$10,000                                   BQT          --
                                 BSD         $1-$10,000                                   BSD          --
                                 BHY         $1-$10,000                                   BHY          --
                                 BNA         $1-$10,000                                   BNA          --
                                 BFK       Over $100,000                                  BFK          --
                                 BPK         $1-$10,000                                   BPK          --
                                 BHK         $1-$10,000                                   BHK          --
                                 RNJ      $10,001-$50,000                                 RNJ          --
                                 BNJ       Over $100,000                                  BNJ          --
                                 BHD      $10,001-$50,000                                 BHD          --
                                 BBK      $10,001-$50,000                                 BBK          --
                                 BLE       Over $100,000                                  BLE          --
                                 BYM         $1-$10,000                                   BYM          --
                                 BLJ      $10,001-$50,000                                 BLJ          --
                                 BPP      $10,001-$50,000                                 BPP          --
                                 BLW      $10,001-$50,000                                 BLW          --
                                 BKK      $10,001-$50,000                                 BKK          --
                                 BDV      $10,001-$50,000                                 BDV          --



                                       34





                                                                                                                    AGGREGATE DOLLAR
                                  DOLLAR RANGE OF EQUITY        AGGREGATE DOLLAR        DOLLAR RANGE OF SHARE       RANGE OF EQUITY
                                SECURITIES IN EACH TRUST(1)      RANGE OF EQUITY       EQUIVALENTS IN EACH TRUST     SECURITIES AND
                                ----------------------------    SECURITIES OF ALL      -------------------------   SHARE EQUIVALENTS
NAME                            TRUST         DOLLAR RANGE           TRUSTS(1)          TRUST      DOLLAR RANGE    OF ALL THE TRUSTS
- ----                            -----         --------------    -----------------       ----       ------------    -----------------

INDEPENDENT DIRECTORS:

                                                                                                  
Andrew F. Brimmer                BKT         $1-$10,000             $1-$10,000            BKT    $10,001-$50,000      Over $100,000
                                 BAT         $1-$10,000                                   BAT    $10,001-$50,000
                                 BMN         $1-$10,000                                   BMN           --
                                 BMT         $1-$10,000                                   BMT           --
                                 BRM         $1-$10,000                                   BRM           --
                                 BKN         $1-$10,000                                   BKN           --
                                 BCT         $1-$10,000                                   BCT   $10,001-$50,000
                                 BQT         $1-$10,000                                   BQT   $10,001-$50,000
                                 BSD         $1-$10,000                                   BSD           --
                                 BHY         $1-$10,000                                   BHY   $10,001-$50,000
                                 BNA         $1-$10,000                                   BNA   $10,001-$50,000
                                 BFK         $1-$10,000                                   BFK           --
                                 BPK         $1-$10,000                                   BPK           --
                                 BHK         $1-$10,000                                   BHK       $1-$10,000
                                 BHD         $1-$10,000                                   BHD       $1-$10,000
                                 BBK         $1-$10,000                                   BBK           --
                                 BLE         $1-$10,000                                   BLE           --
                                 BYM         $1-$10,000                                   BYM           --
                                 BPP         $1-$10,000                                   BPP           --
                                 BLW         $1-$10,000                                   BLW           --
                                 BKK         $1-$10,000                                   BKK           --
                                 BDV         $1-$10,000                                   BDV           --

Richard E. Cavanagh              BKT         $1-$10,000         $50,001-$100,000          BKT   $10,001-$50,000       Over $100,000
                                 BAT         $1-$10,000                                   BAT       $1-$10,000
                                 BMN         $1-$10,000                                   BMN           --
                                 BMT         $1-$10,000                                   BMT           --
                                 BRM         $1-$10,000                                   BRM           --
                                 BKN         $1-$10,000                                   BKN           --
                                 BCT         $1-$10,000                                   BCT       $1-$10,000
                                 BQT         $1-$10,000                                   BQT       $1-$10,000
                                 BSD         $1-$10,000                                   BSD           --
                                 BHY         $1-$10,000                                   BHY   $10,001-$50,000
                                 BNA         $1-$10,000                                   BNA       $1-$10,000
                                 BFK         $1-$10,000                                   BFK           --
                                 BPK         $1-$10,000                                   BPK           --
                                 BHK         $1-$10,000                                   BHK       $1-$10,000
                                 BLN         $1-$10,000                                   BLN           --
                                 RNY         $1-$10,000                                   RNY           --
                                 BNY         $1-$10,000                                   BNY           --
                                 BLH         $1-$10,000                                   BLH           --
                                 BHD         $1-$10,000                                   BHD       $1-$10,000
                                 BBK         $1-$10,000                                   BBK           --
                                 BLE         $1-$10,000                                   BLE           --
                                 BYM         $1-$10,000                                   BYM           --
                                 BQH         $1-$10,000                                   BQH           --
                                 BFY         $1-$10,000                                   BFY           --
                                 BSE         $1-$10,000                                   BSE           --
                                 BPP         $1-$10,000                                   BPP           --
                                 BLW         $1-$10,000                                   BLW           --
                                 BKK         $1-$10,000                                   BKK           --
                                 BDV         $1-$10,000                                   BDV           --

Kent Dixon                       BKT         $1-$10,000           Over $100,000           BKT       $1-$10,000        Over $100,000
                                 BAT         $1-$10,000                                   BAT       $1-$10,000
                                 BMN         $1-$10,000                                   BMN           --
                                 BMT         $1-$10,000                                   BMT           --
                                 BRM         $1-$10,000                                   BRM           --
                                 BKN         $1-$10,000                                   BKN           --
                                 BCT         $1-$10,000                                   BCT       $1-$10,000
                                 BQT         $1-$10,000                                   BQT       $1-$10,000
                                 BSD         $1-$10,000                                   BSD           --
                                 BHY     $50,001-$100,000                                 BHY       $1-$10,000
                                 BNA         $1-$10,000                                   BNA       $1-$10,000
                                 BFK     $50,001-$100,000                                 BFK           --
                                 BPK         $1-$10,000                                   BPK           --
                                 BHK         $1-$10,000                                   BHK       $1-$10,000
                                 BRF         $1-$10,000                                   BRF           --
                                 RFA         $1-$10,000                                   RFA           --
                                 BBF      $10,001-$50,000                                 BBF           --
                                 BHD         $1-$10,000                                   BHD       $1-$10,000



                                       35





                                                                                                                    AGGREGATE DOLLAR
                                  DOLLAR RANGE OF EQUITY        AGGREGATE DOLLAR        DOLLAR RANGE OF SHARE       RANGE OF EQUITY
NAME                            SECURITIES IN EACH TRUST(1)      RANGE OF EQUITY       EQUIVALENTS IN EACH TRUST     SECURITIES AND
- ---                             ----------------------------    SECURITIES OF ALL      -------------------------   SHARE EQUIVALENTS
                                TRUST         DOLLAR RANGE           TRUSTS(1)          TRUST      DOLLAR RANGE    OF ALL THE TRUSTS
                                -----         --------------    -----------------       ----       ------------    -----------------
                                                                                                  
                                 BBK     $50,001-$100,000                                 BBK           --
Kent Dixon                       BLE         $1-$10,000                                   BLE           --
(continued)                      BYM     $50,001-$100,000                                 BYM           --
                                 BIE         $1-$10,000                                   BIE           --
                                 BAF         $1-$10,000                                   BAF           --
                                 BPP         $1-$10,000                                   BPP           --
                                 BLW      $10,001-$50,000                                 BLW           --
                                 BKK         $1-$10,000                                   BKK           --
                                 BFO         $1-$10,000                                   BFO           --
                                 BDV      $10,001-$50,000                                 BDV           --

Frank J. Fabozzi                 BKT         $1-$10,000          $10,001-$50,000          BKT         $1-$10,000     $10,001-$50,000
                                 BAT         $1-$10,000                                   BAT         $1-$10,000
                                 BMN         $1-$10,000                                   BMN              --
                                 BMT         $1-$10,000                                   BMT              --
                                 BRM         $1-$10,000                                   BRM              --
                                 BKN         $1-$10,000                                   BKN              --
                                 BCT         $1-$10,000                                   BCT         $1-$10,000
                                 BQT         $1-$10,000                                   BQT         $1-$10,000
                                 BSD         $1-$10,000                                   BSD              --
                                 BHY         $1-$10,000                                   BHY         $1-$10,000
                                 BNA         $1-$10,000                                   BNA         $1-$10,000
                                 BFK         $1-$10,000                                   BFK              --
                                 BPK         $1-$10,000                                   BPK              --
                                 BHK         $1-$10,000                                   BHK         $1-$10,000
                                 BPS         $1-$10,000                                   BPS              --
                                 BHD         $1-$10,000                                   BHD         $1-$10,000
                                 BBK         $1-$10,000                                   BBK              --
                                 BLE         $1-$10,000                                   BLE              --
                                 BYM         $1-$10,000                                   BYM              --
                                 BPP         $1-$10,000                                   BPP              --
                                 BLW         $1-$10,000                                   BLW              --
                                 BKK         $1-$10,000                                   BKK              --
                                 BDV         $1-$10,000                                   BDV              --

James Clayburn La                BKT         $1-$10,000            Over $100,000          BKT        Over $100,000     Over $100,000
Force, Jr.                       BAT         $1-$10,000                                   BAT        Over $100,000
                                 BMN         $1-$10,000                                   BMN              --
                                 BMT         $1-$10,000                                   BMT              --
                                 BRM         $1-$10,000                                   BRM              --
                                 BKN         $1-$10,000                                   BKN              --
                                 BCT         $1-$10,000                                   BCT        Over $100,000
                                 BQT         $1-$10,000                                   BQT        Over $100,000
                                 BSD      $10,001-$50,000                                 BSD              --
                                 BHY      $10,001-$50,000                                 BHY        Over $100,000
                                 BNA         $1-$10,000                                   BNA        Over $100,000
                                 BFK         $1-$10,000                                   BFK              --
                                 BPK         $1-$10,000                                   BPK              --
                                 BHK         $1-$10,000                                   BHK       $10,001-$50,000
                                 BFC     $50,001-$100,000                                 BFC              --
                                 RAA         $1-$10,000                                   RAA              --
                                 BFZ         $1-$10,000                                   BFZ              --
                                 BJZ         $1-$10,000                                   BJZ              --
                                 BHD         $1-$10,000                                   BHD       $10,001-$50,000
                                 BBK         $1-$10,000                                   BBK              --
                                 BLE         $1-$10,000                                   BLE              --
                                 BYM      $10,001-$50,000                                 BYM              --
                                 BZA     $50,001-$100,000                                 BZA              --
                                 BCL         $1-$10,000                                   BCL              --
                                 BCK      $10,001-$50,000                                 BCK              --
                                 BPP         $1-$10,000                                   BPP              --
                                 BLW         $1-$10,000                                   BLW              --
                                 BKK         $1-$10,000                                   BKK              --
                                 BDV         $1-$10,000                                   BDV              --

Walter F. Mondale                BKT         $1-$10,000         $50,001-$100,000          BKT       $10,001-$50,000    Over $100,000
                                 BAT         $1-$10,000                                   BAT       $10,001-$50,000
                                 BMN      $10,001-$50,000                                 BMN              --
                                 BMT      $10,001-$50,000                                 BMT              --
                                 BRM         $1-$10,000                                   BRM              --
                                 BKN         $1-$10,000                                   BKN              --
                                 BCT         $1-$10,000                                   BCT       $10,001-$50,000
                                 BQT         $1-$10,000                                   BQT       $10,001-$50,000
                                 BSD         $1-$10,000                                   BSD              --
                                 BHY         $1-$10,000                                   BHY              --



                                       36





                                                                                                                    AGGREGATE DOLLAR
                                  DOLLAR RANGE OF EQUITY        AGGREGATE DOLLAR        DOLLAR RANGE OF SHARE       RANGE OF EQUITY
                                SECURITIES IN EACH TRUST(1)      RANGE OF EQUITY       EQUIVALENTS IN EACH TRUST     SECURITIES AND
                                ----------------------------    SECURITIES OF ALL      -------------------------   SHARE EQUIVALENTS
NAME                            TRUST         DOLLAR RANGE           TRUSTS(1)          TRUST      DOLLAR RANGE    OF ALL THE TRUSTS
- ----                            -----         --------------    -----------------       ----       ------------    -----------------
                                                                                                  
                                 BNA         $1-$10,000                                   BNA       $10,001-$50,000
                                 BFK         $1-$10,000                                   BFK              --
Walter F. Mondale                BPK      $10,001-$50,000                                 BPK              --
(continued)                      BHK      $10,001-$50,000                                 BHK         $1-$10,000
                                 BHD         $1-$10,000                                   BHD         $1-$10,000
                                 BBK         $1-$10,000                                   BBK              --
                                 BLE         $1-$10,000                                   BLE              --
                                 BYM         $1-$10,000                                   BYM              --
                                 BPP         $1-$10,000                                   BPP              --
                                 BLW         $1-$10,000                                   BLW              --
                                 BKK         $1-$10,000                                   BKK              --
                                 BDV         $1-$10,000                                   BDV              --


(1) Messrs. Kapito and Schlosstein and are not eligible to participate in the
deferred compensation plan. Therefore, they own the same amount of equity
securities without share equivalents as equity securities including share
equivalents.


                                       37


THE BLACKROCK
INVESTMENT QUALITY
MUNICIPAL TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694



                           --------------------------

                           --------------------------
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                                                                            3256

|X|  PLEASE MARK
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     THIS EXAMPLE.


     1.Election of Directors:

                             (01) WALTER F. MONDALE
                            (02) RALPH L. SCHLOSSTEIN


      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above

2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                     INVESTMENT QUALITY MUNICIPAL TRUST INC.
- --------------------------------------------------------------------------------
                                  COMMON STOCK


Mark box at right if an address  change or comment has been noted on the reverse
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                                      PROXY

                                  THE BLACKROCK
                     INVESTMENT QUALITY MUNICIPAL TRUST INC.

                                  COMMON STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the shares of common stock of the  BlackRock
Investment  Quality  Municipal  Trust Inc.  (the  "Trust") held of record by the
undersigned  on February 27, 2004 at the Annual Meeting of  Stockholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
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- ---------------------------------------

- ---------------------------------------

- ---------------------------------------


THE BLACKROCK
INVESTMENT QUALITY
MUNICIPAL TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694












                                   DETACH HERE


                                                                            3256

|X| PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.


    1.Election of Directors:

                               (01) FRANK FABOZZI
                             (02) WALTER F. MONDALE
                           (03) RALPH L. SCHLOSSTEIN



      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES


[ ] _______________________________________
    For all nominees except as noted above

2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                     INVESTMENT QUALITY MUNICIPAL TRUST INC.
- --------------------------------------------------------------------------------
                                PREFERRED STOCK


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                                   DETACH HERE


                                      PROXY

                                  THE BLACKROCK
                     INVESTMENT QUALITY MUNICIPAL TRUST INC.

                                 PREFERRED STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  shares  of  preferred  stock  of The
BlackRock  Investment  Quality Municipal Trust Inc. (the "Trust") held of record
by the undersigned on February 27, 2004 at the Annual Meeting of Stockholders of
the Trust to be held on May 26,  2004 or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
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THE BLACKROCK
INSURED MUNICIPAL
2008 TERM TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694





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                                                                            3224

|X| PLEASE MARK
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    THIS EXAMPLE.



    1.Election of Directors:

                             (01) WALTER F. MONDALE
                           (02) RALPH L. SCHLOSSTEIN


      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] ______________________________________
    For all nominees except as noted above

2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                     INSURED MUNICIPAL 2008 TERM TRUST INC.
- --------------------------------------------------------------------------------
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                                      PROXY

                                  THE BLACKROCK
                     INSURED MUNICIPAL 2008 TERM TRUST INC.

                                  COMMON STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the shares of common stock of The  BlackRock
Insured  Municipal  2008 Term Trust  Inc.  (the  "Trust")  held of record by the
undersigned  on February 27, 2004 at the Annual Meeting of  Stockholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
              SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------



THE BLACKROCK
INSURED MUNICIPAL
2008 TERM TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694













                                   DETACH HERE


                                                                            3224

|X| PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.



    1.Election of Directors:

                               (01) FRANK FABOZZI
                             (02) WALTER F. MONDALE
                           (03) RALPH L. SCHLOSSTEIN


      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES


[ ] ______________________________________
    For all nominees except as noted above


2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                     INSURED MUNICIPAL 2008 TERM TRUST INC.
- --------------------------------------------------------------------------------
                                PREFERRED STOCK

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                           [ ]


Please be sure to sign and date this Proxy.

Signature:_________________________________           Date: ____________________

Co-owner
Signature:_________________________________           Date: ____________________



                                   DETACH HERE


                                      PROXY

                                  THE BLACKROCK
                     INSURED MUNICIPAL 2008 TERM TRUST INC.

                                 PREFERRED STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  shares  of  preferred  stock  of The
BlackRock Insured Municipal 2008 Term Trust Inc. (the "Trust") held of record by
the  undersigned on February 27, 2004 at the Annual Meeting of  Stockholders  of
the Trust to be held on May 26,  2004 or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------



THE BLACKROCK CALIFORNIA
INSURED MUNICIPAL
2008 TERM TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694





                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bfc
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.







            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3227

|X| PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.


    1.Election of Directors:

                             (01) WALTER F. MONDALE
                           (02) RALPH L. SCHLOSSTEIN


  [ ] FOR                                      [ ] WITHHOLD
      ALL                                          FROM ALL
      NOMINEES                                     NOMINEES


[ ] ______________________________________
    For all nominees except as noted above


2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN


- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                CALIFORNIA INSURED MUNICIPAL 2008 TERM TRUST INC.
- --------------------------------------------------------------------------------
                                  COMMON STOCK

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:_________________________________           Date: ____________________

Co-owner
Signature:_________________________________           Date: ____________________



            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                  THE BLACKROCK
                CALIFORNIA INSURED MUNICIPAL 2008 TERM TRUST INC.

                                  COMMON STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the shares of common stock of The  BlackRock
California  Insured  Municipal 2008 Term Trust Inc. (the "Trust") held of record
by the undersigned on February 27, 2004 at the Annual Meeting of Stockholders of
the Trust to be held on May 26,  2004 or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------



THE BLACKROCK CALIFORNIA
INSURED MUNICIPAL
2008 TERM TRUST INC.

C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694











                                   DETACH HERE


                                                                            3227

|X| PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.



1.Election of Directors:

                               (01) FRANK FABOZZI
                             (02) WALTER F. MONDALE
                           (03) RALPH L. SCHLOSSTEIN


      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES


[ ] ______________________________________
    For all nominees except as noted above


2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN


- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                CALIFORNIA INSURED MUNICIPAL 2008 TERM TRUST INC.
- --------------------------------------------------------------------------------
                                PREFERRED STOCK

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:_________________________________           Date: ____________________

Co-owner
Signature:_________________________________           Date: ____________________



                                   DETACH HERE


                                      PROXY

                                  THE BLACKROCK
                CALIFORNIA INSURED MUNICIPAL 2008 TERM TRUST INC.

                                 PREFERRED STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  shares  of  preferred  stock  of The
BlackRock  California  Insured Municipal 2008 Term Trust Inc. (the "Trust") held
of record by the  undersigned  on  February  27,  2004 at the Annual  Meeting of
Stockholders  of the Trust to be held on May 26, 2004 or at any  adjournments or
postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------



THE BLACKROCK FLORIDA
INSURED MUNICIPAL
2008 TERM TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694






            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3235

|X| PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.



    1. Election of Trustees:

                             (01) WALTER F. MONDALE
                           (02) RALPH L. SCHLOSSTEIN


      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES


[ ] ______________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                    FLORIDA INSURED MUNICIPAL 2008 TERM TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:_________________________________           Date: ____________________

Co-owner
Signature:_________________________________           Date: ____________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                  THE BLACKROCK
                    FLORIDA INSURED MUNICIPAL 2008 TERM TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common shares of The  BlackRock  Florida
Insured  Municipal  2008  Term  Trust  (the  "Trust")  held  of  record  by  the
undersigned  on February 27, 2004 at the Annual Meeting of  Shareholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------



THE BLACKROCK FLORIDA
INSURED MUNICIPAL
2008 TERM TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694













                                   DETACH HERE


                                                                            3235

|X| PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.



     1. Election of Trustees:

                               (01) FRANK FABOZZI
                             (02) WALTER F. MONDALE
                           (03) RALPH L. SCHLOSSTEIN


      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES


[ ] ______________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                    FLORIDA INSURED MUNICIPAL 2008 TERM TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:_________________________________           Date: ____________________

Co-owner
Signature:_________________________________           Date: ____________________



                                   DETACH HERE


                                      PROXY

                                  THE BLACKROCK
                    FLORIDA INSURED MUNICIPAL 2008 TERM TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the preferred shares of The BlackRock Florida
Insured  Municipal  2008  Term  Trust  (the  "Trust")  held  of  record  by  the
undersigned  on February 27, 2004 at the Annual Meeting of  Shareholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------



THE BLACKROCK NEW YORK
INSURED MUNICIPAL
2008 TERM TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694






                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bln
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3254

|X| PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.


    1.Election of Directors:

                             (01) WALTER F. MONDALE
                           (02) RALPH L. SCHLOSSTEIN


      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES


[ ] ______________________________________
    For all nominees except as noted above


2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                 NEW YORK INSURED MUNICIPAL 2008 TERM TRUST INC.
- --------------------------------------------------------------------------------
                                  COMMON STOCK

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:_________________________________           Date: ____________________

Co-owner
Signature:_________________________________           Date: ____________________



            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                  THE BLACKROCK
                 NEW YORK INSURED MUNICIPAL 2008 TERM TRUST INC.

                                  COMMON STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the shares of common stock of The  BlackRock
New York Insured  Municipal 2008 Term Trust Inc. (the "Trust") held of record by
the  undersigned on February 27, 2004 at the Annual Meeting of  Stockholders  of
the Trust to be held on May 26,  2004 or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------



THE BLACKROCK NEW YORK
INSURED MUNICIPAL
2008 TERM TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694









                                   DETACH HERE


                                                                            3254

|X| PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.



    1.Election of Directors:

                               (01) FRANK FABOZZI
                             (02) WALTER F. MONDALE
                            (03)RALPH L. SCHLOSSTEIN


      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES


[ ] ______________________________________
    For all nominees except as noted above

2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                 NEW YORK INSURED MUNICIPAL 2008 TERM TRUST INC.
- --------------------------------------------------------------------------------
                                PREFERRED STOCK

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:_________________________________           Date: ____________________

Co-owner
Signature:_________________________________           Date: ____________________



                                   DETACH HERE


                                      PROXY

                                  THE BLACKROCK
                 NEW YORK INSURED MUNICIPAL 2008 TERM TRUST INC.

                                 PREFERRED STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  shares  of  preferred  stock  of The
BlackRock New York Insured  Municipal 2008 Term Trust Inc. (the "Trust") held of
record  by the  undersigned  on  February  27,  2004 at the  Annual  Meeting  of
Stockholders  of the Trust to be held on May 26, 2004 or at any  adjournments or
postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------



THE BLACKROCK BROAD
INVESTMENT GRADE
2009 TERM TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                          ----------------------------

                          ----------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bct
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE
CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3226

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.

1.Election of Directors:

                          (01) RICHARD E. CAVANAGH
                        (02) JAMES CLAYBURN LA FORCE, JR.


          [ ]  FOR                                 [ ]  WITHHOLD
               ALL                                      FROM ALL
               NOMINEES                                 NOMINEES


[ ]  __________________________________________
     For all nominees except as noted above


- --------------------------------------------------------------------------------
                                 THE BLACKROCK
                   BROAD INVESTMENT GRADE 2009 TERM TRUST INC.
- --------------------------------------------------------------------------------
                                  COMMON STOCK

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                         [ ]

Please be sure to sign and date this Proxy.

Signature:_________________________________               Date: ________________

Co-owner
Signature:_________________________________               Date: ________________





            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                  THE BLACKROCK
                   BROAD INVESTMENT GRADE 2009 TERM TRUST INC.

                                  COMMON STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the shares of common stock of The  BlackRock
Broad  Investment Grade 2009 Term Trust Inc. (the "Trust") held of record by the
undersigned  on February 27, 2004 at the Annual Meeting of  Stockholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------

- -------------------------------------

- -------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------

- -------------------------------------

- -------------------------------------



THE BLACKROCK
INCOME TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                          ---------------------------

                          ---------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET


LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bkt
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL




                                                                            3232


[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:

                             (01) ANDREW F. BRIMMER
                                 (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above



- --------------------------------------------------------------------------------
                         THE BLACKROCK INCOME TRUST INC.
- --------------------------------------------------------------------------------
                                  COMMON STOCK


Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                         THE BLACKROCK INCOME TRUST INC.

                                  COMMON STOCK

               THIS PROXY IS SOLICITED ON BEHALF OF THE DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the shares of common stock of The  BlackRock
Income Trust Inc. (the "Trust")  held of record by the  undersigned  on February
27, 2004 at the Annual  Meeting of  Stockholders  of the Trust to be held on May
26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------





THE BLACKROCK
HIGH YIELD TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                          ----------------------------

                          ----------------------------

                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET
LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bhy
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE
CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3237

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.

1. Election of Trustees:

                               (01) FRANK FABOZZI
                             (02) WALTER F. MONDALE
                           (03) RALPH L. SCHLOSSTEIN

          [ ]  FOR                                 [ ]  WITHHOLD
               ALL                                      FROM ALL
               NOMINEES                                 NOMINEES


[ ]  __________________________________________
     For all nominees except as noted above

- --------------------------------------------------------------------------------
                         THE BLACKROCK HIGH YIELD TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:_________________________________               Date: ________________

Co-owner
Signature:_________________________________               Date: ________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                         THE BLACKROCK HIGH YIELD TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of The BlackRock High Yield
Trust (the  "Trust") held of record by the  undersigned  on February 27, 2004 at
the Annual Meeting of Shareholders of the Trust to be held on May 26, 2004 or at
any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------

- -------------------------------------

- -------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------

- -------------------------------------

- -------------------------------------




THE BLACKROCK
INVESTMENT QUALITY
TERM TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                          ----------------------------

                          ----------------------------

                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET
LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bqt
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE
CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3241

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.

1.Election of Directors:

                             (01) ANDREW F. BRIMMER
                                (02) KENT DIXON
                             (03) ROBERT S. KAPITO


          [ ]  FOR                                 [ ]  WITHHOLD
               ALL                                      FROM ALL
               NOMINEES                                 NOMINEES

[ ]  __________________________________________
     For all nominees except as noted above


- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                       INVESTMENT QUALITY TERM TRUST INC.
- --------------------------------------------------------------------------------
                                  COMMON STOCK

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:_________________________________               Date: ________________

Co-owner
Signature:_________________________________               Date: ________________



            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                  THE BLACKROCK
                       INVESTMENT QUALITY TERM TRUST INC.

                                  COMMON STOCK

               THIS PROXY IS SOLICITED ON BEHALF OF THE DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the shares of common stock of the  BlackRock
Investment  Quality  Term  Trust  Inc.  (the  "Trust")  held  of  record  by the
undersigned  on February 27, 2004 at the Annual Meeting of  Stockholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------

- -------------------------------------

- -------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------

- -------------------------------------

- -------------------------------------




THE BLACKROCK
ADVANTAGE TERM TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET
LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bat
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE
CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3225

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.

1.Election of Directors:

                            (01) RICHARD E. CAVANAGH
                       (02) JAMES CLAYBURN LA FORCE, JR.


          [ ]  FOR                                 [ ]  WITHHOLD
               ALL                                      FROM ALL
               NOMINEES                                 NOMINEES

[ ]  __________________________________________
     For all nominees except as noted above

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                           ADVANTAGE TERM TRUST INC.
- --------------------------------------------------------------------------------
                                  COMMON STOCK

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:_________________________________               Date: ________________

Co-owner
Signature:_________________________________               Date: ________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                  THE BLACKROCK
                           ADVANTAGE TERM TRUST INC.

                                  COMMON STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the shares of common stock of The  BlackRock
Advantage  Term Trust Inc. (the "Trust")  held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Stockholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------

- -------------------------------------

- -------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------

- -------------------------------------

- -------------------------------------




THE BLACKROCK
MUNICIPAL TARGET TERM TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                          ---------------------------

                          ---------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET


LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bkt
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL



                                                                            3247

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:

                             (01) ANDREW F. BRIMMER
                                 (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN

- --------------------------------------------------------------------------------
                                 THE BLACKROCK
                       MUNICIPAL TARGET TERM TRUST, INC.
- --------------------------------------------------------------------------------
                                  COMMON STOCK





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________



            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                  THE BLACKROCK
                        MUNICIPAL TARGET TERM TRUST INC.

                                  COMMON STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the shares of common stock of The  BlackRock
Municipal Target Term Trust Inc. (the "Trust") held of record by the undersigned
on February 27, 2004 at the Annual  Meeting of  Stockholders  of the Trust to be
held on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------




THE BLACKROCK
MUNICIPAL TARGET TERM TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694








                                   DETACH HERE


                                                                            3247


[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:

                             (01) ANDREW F. BRIMMER
                                 (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN

- --------------------------------------------------------------------------------
                                 THE BLACKROCK
                        MUNICIPAL TARGET TERM TRUST INC.
- --------------------------------------------------------------------------------
                                 PREFERRED STOCK





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




                                   DETACH HERE



                                      PROXY

                                  THE BLACKROCK
                        MUNICIPAL TARGET TERM TRUST INC.

                                 PREFERRED STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  shares  of  preferred  stock  of The
BlackRock  Municipal  Target Term Trust Inc. (the "Trust") held of record by the
undersigned  on February 27, 2004 at the Annual Meeting of  Stockholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE UNDERSIGNED STOCKHOLDER. IF NO DIRECTION IS MADE, THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------



THE BLACKROCK CALIFORNIA
INVESTMENT QUALITY
MUNICIPAL TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET
LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/raa
[COMPUTER LOGO]

OR



VOTE-BY-TELEPHONE
CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3231
[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.


1.Election of Director:

                        (01) JAMES CLAYBURN LA FORCE, JR.



          [ ]  FOR THE                             [ ]  WITHHOLD
               NOMINEE                                  FROM THE
                                                        NOMINEE


2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
               CALIFORNIA INVESTMENT QUALITY MUNICIPAL TRUST INC.
- --------------------------------------------------------------------------------
                                  COMMON STOCK

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:_________________________________               Date: ________________

Co-owner
Signature:_________________________________               Date: ________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                  THE BLACKROCK
               CALIFORNIA INVESTMENT QUALITY MUNICIPAL TRUST INC.

                                  COMMON STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the shares of common stock of The  BlackRock
California  Investment Quality Municipal Trust Inc. (the "Trust") held of record
by the undersigned on February 27, 2004 at the Annual Meeting of Stockholders of
the Trust to be held on May 26,  2004 or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
              SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------

- -------------------------------------

- -------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------

- -------------------------------------

- -------------------------------------



THE BLACKROCK CALIFORNIA INVESTMENT QUALITY
MUNICIPAL TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694








                                   DETACH HERE


                                                                            3231


[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:

                            (01) RICHARD E. CAVANAGH
                       (02) JAMES CLAYBURN LA FORCE, JR.


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN


- --------------------------------------------------------------------------------
                                 THE BLACKROCK
               CALIFORNIA INVESTMENT QUALITY MUNICIPAL TRUST INC.
- --------------------------------------------------------------------------------
                                 PREFERRED STOCK





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________





                                      PROXY

                                  THE BLACKROCK
               CALIFORNIA INVESTMENT QUALITY MUNICIPAL TRUST INC.

                                 PREFERRED STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  shares  of  preferred  stock  of The
BlackRock California  Investment Quality Municipal Trust Inc. (the "Trust") held
of record by the  undersigned  on  February  27,  2004 at the Annual  Meeting of
Stockholders  of the Trust to be held on May 26, 2004 or at any  adjournments or
postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------


THE BLACKROCK FLORIDA
INVESTMENT QUALITY
MUNICIPAL TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694



            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3236

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustee:

                        (01) JAMES CLAYBURN LA FORCE, JR.


     [ ] FOR                                     [ ] WITHHOLD
         THE                                         FROM THE
         NOMINEE                                     NOMINEE


- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                   FLORIDA INVESTMENT QUALITY MUNICIPAL TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:___________________________________    Date:__________________________

Co-owner
Signature:___________________________________    Date:__________________________



            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                  THE BLACKROCK
                   FLORIDA INVESTMENT QUALITY MUNICIPAL TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common shares of The  BlackRock  Florida
Investment  Quality  Municipal  Trust  (the  "Trust")  held  of  record  by  the
undersigned  on February 27, 2004 at the Annual Meeting of  Shareholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------

DO YOU HAVE ANY COMMENTS?


- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------



THE BLACKROCK FLORIDA
INVESTMENT QUALITY
MUNICIPAL TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                                   DETACH HERE


                                                                            3236

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:

                            (01) RICHARD E. CAVANAGH
                       (02) JAMES CLAYBURN LA FORCE, JR.


     [ ] FOR                                     [ ] WITHHOLD
         ALL                                         FROM ALL
         NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                   FLORIDA INVESTMENT QUALITY MUNICIPAL TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES

Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:___________________________________    Date:__________________________

Co-owner
Signature:___________________________________    Date:__________________________



                                   DETACH HERE


                                      PROXY

                                  THE BLACKROCK
                   FLORIDA INVESTMENT QUALITY MUNICIPAL TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the preferred shares of The BlackRock Florida
Investment  Quality  Municipal  Trust  (the  "Trust")  held  of  record  by  the
undersigned  on February 27, 2004 at the Annual Meeting of  Shareholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------

DO YOU HAVE ANY COMMENTS?


- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------




THE BLACKROCK NEW JERSEY
INVESTMENT QUALITY
MUNICIPAL TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                          ---------------------------

                          ---------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET


LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/rnj
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3243

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Director:

                        (01) JAMES CLAYBURN LA FORCE, JR.

     [ ] FOR                                     [ ] WITHHOLD
         THE                                         FROM THE
         NOMINEE                                     NOMINEE

2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
               NEW JERSEY INVESTMENT QUALITY MUNICIPAL TRUST INC.
- --------------------------------------------------------------------------------
                                  COMMON STOCK


Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:___________________________________    Date:__________________________

Co-owner
Signature:___________________________________    Date:__________________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                           PROXY

                                  THE BLACKROCK
               NEW JERSEY INVESTMENT QUALITY MUNICIPAL TRUST INC.

                                  COMMON STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the shares of common stock of The  BlackRock
New Jersey Investment  Quality Municipal Trust Inc. (the "Trust") held of record
by the undersigned on February 27, 2004 at the Annual Meeting of Stockholders of
the Trust to be held on May 26,  2004 or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------


HAS YOUR ADDRESS CHANGED?

- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------

DO YOU HAVE ANY COMMENTS?


- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------




THE BLACKROCK NEW JERSEY
INVESTMENT QUALITY
MUNICIPAL TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                                  DETACH HERE


                                                                            3243

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:

                            (01) RICHARD E. CAVANAGH
                       (02) JAMES CLAYBURN LA FORCE, JR.

    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
               NEW JERSEY INVESTMENT QUALITY MUNICIPAL TRUST INC.
- --------------------------------------------------------------------------------
                                PREFERRED STOCK


Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:___________________________________    Date:__________________________

Co-owner
Signature:___________________________________    Date:__________________________




                                  DETACH HERE


                                      PROXY

                                  THE BLACKROCK
               NEW JERSEY INVESTMENT QUALITY MUNICIPAL TRUST INC.

                                 PREFERRED STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  shares  of  preferred  stock  of The
BlackRock New Jersey Investment  Quality Municipal Trust Inc. (the "Trust") held
of record by the  undersigned  on  February  27,  2004 at the Annual  Meeting of
Stockholders  of the Trust to be held on May 26, 2004 or at any  adjournments or
postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE UNDERSIGNED STOCKHOLDER. IF NO DIRECTION IS MADE THIS PROXY WILL BE VOTED
FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------


HAS YOUR ADDRESS CHANGED?

- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------

DO YOU HAVE ANY COMMENTS?


- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------





THE BLACKROCK NEW YORK
INVESTMENT QUALITY
MUNICIPAL TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                          ---------------------------

                          ---------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET


LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bkt
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL



                                                                            3252

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:

                        (01) JAMES CLAYBURN LA FORCE, JR.


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN

- --------------------------------------------------------------------------------
                                 THE BLACKROCK
                NEW YORK INVESTMENT QUALITY MUNICIPAL TRUST INC.
- --------------------------------------------------------------------------------
                                  COMMON STOCK





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________



            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL



                                      PROXY

                                  THE BLACKROCK
                NEW YORK INVESTMENT QUALITY MUNICIPAL TRUST INC.

                                  COMMON STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the shares of common stock of The  BlackRock
New York Investment Quality Municipal Trust Inc. (the "Trust") held of record by
the  undersigned on February 27, 2004 at the Annual Meeting of  Stockholders  of
the Trust to be held on May 26,  2004 or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------



THE BLACKROCK NEW YORK
INVESTMENT QUALITY
MUNICIPAL TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                                  DETACH HERE


                                                                            3252

1.Election of Directors:

                            (01) RICHARD E. CAVANAGH
                       (02) JAMES CLAYBURN LA FORCE, JR.

    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above


2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                NEW YORK INVESTMENT QUALITY MUNICIPAL TRUST INC.
- --------------------------------------------------------------------------------
                                PREFERRED STOCK

Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:___________________________________    Date:__________________________

Co-owner
Signature:___________________________________    Date:__________________________



                                  DETACH HERE


                                      PROXY

                                  THE BLACKROCK
                NEW YORK INVESTMENT QUALITY MUNICIPAL TRUST INC.

                                 PREFERRED STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  shares  of  preferred  stock  of The
BlackRock New York Investment Quality Municipal Trust Inc. (the "Trust") held of
record  by the  undersigned  on  February  27,  2004 at the  Annual  Meeting  of
Stockholders  of the Trust to be held on May 26, 2004 or at any  adjournments or
postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------

DO YOU HAVE ANY COMMENTS?


- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------




THE BLACKROCK
INCOME OPPORTUNITY TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                          ---------------------------

                          ---------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET


LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bkt
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL



                                                                            3249

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:

                             (01) ANDREW F. BRIMMER
                                 (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                 THE BLACKROCK
                         INCOME OPPORTUNITY TRUST INC.
- --------------------------------------------------------------------------------
                                  COMMON STOCK





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________





            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL



                                      PROXY

                                  THE BLACKROCK
                          INCOME OPPORTUNITY TRUST INC.

                                  COMMON STOCK

               THIS PROXY IS SOLICITED ON BEHALF OF THE DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the shares of common stock of The  BlackRock
Income Opportunity Trust Inc. (the "Trust") held of record by the undersigned on
February 27, 2004 at the Annual Meeting of  Stockholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------






THE BLACKROCK INSURED
MUNICIPAL TERM TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                          ---------------------------

                          ---------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET


LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bkt
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL



                                                                            3239

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:

                             (01) ANDREW F. BRIMMER
                                 (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN


- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                       INSURED MUNICIPAL TERM TRUST INC.
- --------------------------------------------------------------------------------
                                  COMMON STOCK





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL



                                      PROXY

                                  THE BLACKROCK
                        INSURED MUNICIPAL TERM TRUST INC.

                                  COMMON STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the shares of common stock of The  BlackRock
Insured  Municipal  Term  Trust  Inc.  (the  "Trust")  held  of  record  by  the
undersigned  on February 27, 2004 at the Annual Meeting of  Stockholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------



THE BLACKROCK INSURED
MUNICIPAL TERM TRUST INC.
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                                   DETACH HERE


                                                                            3239

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:

                             (01) ANDREW F. BRIMMER
                                 (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

2. Approval of Proposal 2, to amend the Trust's Articles Supplementary:

[ ] FOR   [ ] AGAINST   [ ]  ABSTAIN

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                       INSURED MUNICIPAL TERM TRUST INC.
- --------------------------------------------------------------------------------
                                PREFERRED STOCK

Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:___________________________________    Date:__________________________

Co-owner
Signature:___________________________________    Date:__________________________


                                   DETACH HERE


                                      PROXY

                                  THE BLACKROCK
                        INSURED MUNICIPAL TERM TRUST INC.

                                 PREFERRED STOCK

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  shares  of  preferred  stock  of The
BlackRock  Insured Municipal Term Trust Inc. (the "Trust") held of record by the
undersigned  on February 27, 2004 at the Annual Meeting of  Stockholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------

DO YOU HAVE ANY COMMENTS?


- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------



THE BLACKROCK
PENNSYLVANIA STRATEGIC
MUNICIPAL TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.


VOTE-BY-INTERNET


LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bps
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3255

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustee:

                        (01) JAMES CLAYBURN LA FORCE, JR.


     [ ] FOR                                     [ ] WITHHOLD
         THE                                         FROM THE
         NOMINEE                                     NOMINEE


- --------------------------------------------------------------------------------
                                 THE BLACKROCK
                     PENNSYLVANA STRATEGIC MUNICIPAL TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES

Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:___________________________________    Date:__________________________

Co-owner
Signature:___________________________________    Date:__________________________


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL

                                      PROXY

                                  THE BLACKROCK
                     PENNSYLVANIA STRATEGIC MUNICIPAL TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all  of  the  common  shares  of  The  BlackRock
Pennsylvania  Strategic  Municipal  Trust  (the  "Trust")  held of record by the
undersigned  on February 27, 2004 at the Annual Meeting of  Shareholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------

DO YOU HAVE ANY COMMENTS?


- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------




THE BLACKROCK
PENNSYLVANIA STRATEGIC
MUNICIPAL TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694



                                   DETACH HERE



                                                                            3255

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:


                            (01) RICHARD E. CAVANAGH
                       (02) JAMES CLAYBURN LA FORCE, JR.


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                     PENNSYLVANIA STRATEGIC MUNICIPAL TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL



                                      PROXY

                                  THE BLACKROCK
                     PENNSYLVANIA STRATEGIC MUNICIPAL TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of The  BlackRock
Pennsylvania  Strategic  Municipal  Trust  (the  "Trust")  held of record by the
undersigned  on February 27, 2004 at the Annual Meeting of  Shareholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------




THE BLACKROCK
STRATEGIC MUNICIPAL TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                          ---------------------------

                          ---------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET


LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bsd
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL



                                                                            3261

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustee:

                        (01) JAMES CLAYBURN LA FORCE, JR.


     [ ] FOR                                     [ ] WITHHOLD
         THE                                         FROM THE
         NOMINEE                                     NOMINEE


- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                           STRATEGIC MUNICIPAL TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES

Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]


Please be sure to sign and date this Proxy.

Signature:___________________________________    Date:__________________________

Co-owner
Signature:___________________________________    Date:__________________________


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                  THE BLACKROCK
                           STRATEGIC MUNICIPAL TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of The BlackRock  Strategic
Municipal  Trust (the "Trust") held of record by the undersigned on February 27,
2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May 26,
2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------

DO YOU HAVE ANY COMMENTS?


- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------



THE BLACKROCK
STRATEGIC MUNICIPAL TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                                   DETACH HERE


                                                                            3261



[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:

                            (01) RICHARD E. CAVANAGH
                       (02) JAMES CLAYBURN LA FORCE, JR.


     [ ] FOR                                     [ ] WITHHOLD
         ALL                                         FROM ALL
         NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                  THE BLACKROCK
                           STRATEGIC MUNICIPAL TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES

Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:___________________________________    Date:__________________________

Co-owner
Signature:___________________________________    Date:__________________________


                                   DETACH HERE


                                      PROXY

                                  THE BLACKROCK
                           STRATEGIC MUNICIPAL TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of The  BlackRock
Strategic  Municipal  Trust (the "Trust") held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------

DO YOU HAVE ANY COMMENTS?


- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------




BLACKROCK FLORIDA
MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                          ---------------------------

                          ---------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET


LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bkt
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL



                                                                            3234

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:


                             (01) ANDREW F. BRIMMER
                                (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                    BLACKROCK
                      FLORIDA MUNICIPAL INCOME TRUST COMMON
- --------------------------------------------------------------------------------
                                  COMMON SHARES





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________



            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                         FLORIDA MUNICIPAL INCOME TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common shares of the  BlackRock  Florida
Municipal  Income  Trust  (the  "Trust")  held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------



BLACKROCK FLORIDA
MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                                   DETACH HERE


                                                                            3234

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:

                             (01) ANDREW F. BRIMMER
                                 (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                    BLACKROCK
                         FLORIDA MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:___________________________________    Date:__________________________

Co-owner
Signature:___________________________________    Date:__________________________


                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                         FLORIDA MUNICIPAL INCOME TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the preferred shares of the BlackRock Florida
Municipal  Income  Trust  (the  "Trust")  held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------

DO YOU HAVE ANY COMMENTS?


- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------



BLACKROCK
MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694



                          ---------------------------

                          ---------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.


VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bfk
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3245


[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:

                             (01) ANDREW F. BRIMMER
                                 (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                               BLACKROCK MUNICIPAL
                                  INCOME TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES

Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:___________________________________    Date:__________________________

Co-owner
Signature:___________________________________    Date:__________________________


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                             MUNICIPAL INCOME TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of the BlackRock  Municipal
Income Trust (the  "Trust")  held of record by the  undersigned  on February 27,
2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May 26,
2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------

DO YOU HAVE ANY COMMENTS?


- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------



BLACKROCK
MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                                   DETACH HERE


                                                                            3245


[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:

                             (01) ANDREW F. BRIMMER
                                 (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                    BLACKROCK
                             MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES

Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:___________________________________    Date:__________________________

Co-owner
Signature:___________________________________    Date:__________________________



                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                             MUNICIPAL INCOME TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of the  BlackRock
Municipal  Income  Trust  (the  "Trust")  held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------

DO YOU HAVE ANY COMMENTS?


- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------



BLACKROCK CALIFORNIA
MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                          ---------------------------

                          ---------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET


LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bfz
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3238

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:

                             (01) ANDREW F. BRIMMER
                                 (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                    BLACKROCK
                       CALIFORNIA MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES

Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:___________________________________    Date:__________________________

Co-owner
Signature:___________________________________    Date:__________________________



            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                        CALIFORNIA MUNICIPAL INCOME TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of the BlackRock California
Municipal  Income  Trust  (the  "Trust")  held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------

DO YOU HAVE ANY COMMENTS?


- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------



BLACKROCK CALIFORNIA
MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                                   DETACH HERE


                                                                            3238

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:

                             (01) ANDREW F. BRIMMER
                                 (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                    BLACKROCK
                       CALIFORNIA MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES

Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature:___________________________________    Date:__________________________

Co-owner
Signature:___________________________________    Date:__________________________



                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                        CALIFORNIA MUNICIPAL INCOME TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of the  BlackRock
California   Municipal  Income  Trust  (the  "Trust")  held  of  record  by  the
undersigned  on February 27, 2004 at the Annual Meeting of  Shareholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------

DO YOU HAVE ANY COMMENTS?


- -------------------------------------------------

- -------------------------------------------------

- -------------------------------------------------


BLACKROCK NEW JERSEY
MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                          ---------------------------

                          ---------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET


LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bkt
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL



                                                                            3248

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:

                             (01) ANDREW F. BRIMMER
                                 (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                   BLACKROCK
                       NEW JERSEY MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                  COMMON SHARES





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________



            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                        NEW JERSEY MUNICIPAL INCOME TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of the BlackRock New Jersey
Municipal  Income  Trust  (the  "Trust")  held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------



BLACKROCK NEW JERSEY
MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                                   DETACH HERE


                                                                            3248

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) ANDREW F. BRIMMER
                      (02) KENT DIXON
                   (03) ROBERT S. KAPITO

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                       NEW JERSEY MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                        NEW JERSEY MUNICIPAL INCOME TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the  preferred  shares of the  BlackRock New
Jersey Municipal Income Trust (the "Trust") held of record by the undersigned on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
              SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                      THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- ----------------------------------------

- ----------------------------------------

- ----------------------------------------





BLACKROCK NEW YORK
MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                          ---------------------------

                          ---------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET


LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bkt
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL



                                                                            3251

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:


                             (01) ANDREW F. BRIMMER
                                (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                   BLACKROCK
                     NEW YORK MUNICIPAL INCOME TRUST COMMON
- --------------------------------------------------------------------------------
                                  COMMON SHARES





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________





            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                         NEW YORK MUNICIPAL INCOME TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common  shares of the BlackRock New York
Municipal  Income  Trust  (the  "Trust")  held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------





BLACKROCK NEW YORK
MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694



                                   DETACH HERE


                                                                            3251

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) ANDREW F. BRIMMER
                      (02) KENT DIXON
                   (03) ROBERT S. KAPITO

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                        NEW YORK MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                         NEW YORK MUNICIPAL INCOME TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the  preferred  shares of the  BlackRock New
York Municipal  Income Trust (the "Trust") held of record by the  undersigned on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK CALIFORNIA
MUNICIPAL 2018 TERM TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bjz
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3229

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) ANDREW F. BRIMMER
                      (02) KENT DIXON
                   (03) ROBERT S. KAPITO

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                      CALIFORNIA MUNICIPAL 2018 TERM TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                      CALIFORNIA MUNICIPAL 2018 TERM TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of the BlackRock California
Municipal  2018 Term Trust (the  "Trust") held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK CALIFORNIA
MUNICIPAL 2018 TERM TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694



                                   DETACH HERE



                                                                            3229

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:


                             (01) ANDREW F. BRIMMER
                                (02) KENT DIXON
                             (03) ROBERT S. KAPITO


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                    BLACKROCK
                      CALIFORNIA MUNICIPAL 2018 TERM TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________



                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                      CALIFORNIA MUNICIPAL 2018 TERM TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of the  BlackRock
California  Municipal  2018  Term  Trust  (the  "Trust")  held of  record by the
undersigned  on February 27, 2004 at the Annual Meeting of  Shareholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------




BLACKROCK
MUNICIPAL 2018 TERM TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bpk
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3262

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) ANDREW F. BRIMMER
                      (02) KENT DIXON
                   (03) ROBERT S. KAPITO

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                           MUNICIPAL 2018 TERM TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                            MUNICIPAL 2018 TERM TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of the BlackRock  Municipal
2018 Term Trust (the "Trust") held of record by the  undersigned on February 27,
2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May 26,
2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK
MUNICIPAL 2018 TERM TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                                   DETACH HERE


                                                                            3262

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) ANDREW F. BRIMMER
                      (02) KENT DIXON
                   (03) ROBERT S. KAPITO

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                           MUNICIPAL 2018 TERM TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                            MUNICIPAL 2018 TERM TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of the  BlackRock
Municipal  2018 Term Trust (the  "Trust") held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK NEW YORK
MUNICIPAL 2018 TERM TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/blh
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3253

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) ANDREW F. BRIMMER
                      (02) KENT DIXON
                   (03) ROBERT S. KAPITO

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                       NEW YORK MUNICIPAL 2018 TERM TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                       NEW YORK MUNICIPAL 2018 TERM TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common  shares of the BlackRock New York
Municipal  2018 Term Trust (the  "Trust") held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK NEW YORK
MUNICIPAL 2018 TERM TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                                   DETACH HERE


                                                                            3253

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) ANDREW F. BRIMMER
                      (02) KENT DIXON
                   (03) ROBERT S. KAPITO

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                       NEW YORK MUNICIPAL 2018 TERM TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                       NEW YORK MUNICIPAL 2018 TERM TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the  preferred  shares of the  BlackRock New
York Municipal  2018 Term Trust (the "Trust") held of record by the  undersigned
on February 27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be
held on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK CORE BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bhk
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3228

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) ANDREW F. BRIMMER
                     (02) KENT DIXON
                  (03) ROBERT S. KAPITO

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                            BLACKROCK CORE BOND TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                            BLACKROCK CORE BOND TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common shares of the BlackRock Core Bond
Trust (the  "Trust") held of record by the  undersigned  on February 27, 2004 at
the Annual Meeting of Shareholders of the Trust to be held on May 26, 2004 or at
any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------



BLACKROCK STRATEGIC BOND TRUST

C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bhd
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3259

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) ANDREW F. BRIMMER
                      (02) KENT DIXON
                   (03) ROBERT S. KAPITO

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                         BLACKROCK STRATEGIC BOND TRUST
- --------------------------------------------------------------------------------
                                  COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                         BLACKROCK STRATEGIC BOND TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of the BlackRock  Strategic
Bond Trust (the "Trust") held of record by the  undersigned on February 27, 2004
at the Annual Meeting of Shareholders of the Trust to be held on May 26, 2004 or
at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK
MUNICIPAL BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bbk
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3244

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) WALTER F. MONDALE
                (02) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                         BLACKROCK MUNICIPAL BOND TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                         BLACKROCK MUNICIPAL BOND TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of the BlackRock  Municipal
Bond Trust (the "Trust") held of record by the  undersigned on February 27, 2004
at the Annual Meeting of Shareholders of the Trust to be held on May 26, 2004 or
at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK
MUNICIPAL BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                                   DETACH HERE


                                                                            3244

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                    (01) FRANK FABOZZI
                  (02) WALTER F. MONDALE
                 (03) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                              MUNICIPAL BOND TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                              MUNICIPAL BOND TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of the  BlackRock
Municipal Bond Trust (the "Trust") held of record by the undersigned on February
27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May
26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------



BLACKROCK CALIFORNIA
MUNICIPAL BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bza
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3222

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) WALTER F. MONDALE
                (02) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                        CALIFORNIA MUNICIPAL BOND TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                         CALIFORNIA MUNICIPAL BOND TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of the BlackRock California
Municipal Bond Trust (the "Trust") held of record by the undersigned on February
27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May
26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK CALIFORNIA
MUNICIPAL BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                                   DETACH HERE


                                                                            3222

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                    (01) FRANK FABOZZI
                  (02) WALTER F. MONDALE
                (03) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                        CALIFORNIA MUNICIPAL BOND TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




                                   DETACH HERE


                                      PROXY

                                    BLACKROCK

                         CALIFORNIA MUNICIPAL BOND TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of the  BlackRock
California  Municipal Bond Trust (the "Trust") held of record by the undersigned
on February 27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be
held on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------



BLACKROCK FLORIDA
MUNICIPAL BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bie
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3233

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) WALTER F. MONDALE
                (02) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                          FLORIDA MUNICIPAL BOND TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK

                          FLORIDA MUNICIPAL BOND TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common shares of the  BlackRock  Florida
Municipal Bond Trust (the "Trust") held of record by the undersigned on February
27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May
26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK FLORIDA
MUNICIPAL BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                                   DETACH HERE


                                                                            3233

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                    (01) FRANK FABOZZI
               (02) WALTER F. MONDALE (03)
                   RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                          FLORIDA MUNICIPAL BOND TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




                                   DETACH HERE


                                      PROXY

                                    BLACKROCK

                          FLORIDA MUNICIPAL BOND TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the preferred shares of the BlackRock Florida
Municipal Bond Trust (the "Trust") held of record by the undersigned on February
27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May
26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK MARYLAND
MUNICIPAL BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bzm
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3246

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) WALTER F. MONDALE
                (02) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.


- --------------------------------------------------------------------------------
                                    BLACKROCK
                         MARYLAND MUNICIPAL BOND TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK

                          MARYLAND MUNICIPAL BOND TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common shares of the BlackRock  Maryland
Municipal Bond Trust (the "Trust") held of record by the undersigned on February
27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May
26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK MARYLAND
MUNICIPAL BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                                   DETACH HERE


                                                                            3246

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                    (01) FRANK FABOZZI
                  (02) WALTER F. MONDALE
                 (03) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                   BLACKROCK
                         MARYLAND MUNICIPAL BOND TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




                                   DETACH HERE


                                      PROXY

                                    BLACKROCK

                          MARYLAND MUNICIPAL BOND TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of the  BlackRock
Maryland Municipal Bond Trust (the "Trust") held of record by the undersigned on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK NEW JERSEY
MUNICIPAL BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/blj
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3242

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.


1. Election of Trustees:


                  (01) WALTER F. MONDALE
                (02) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                        NEW JERSEY MUNICIPAL BOND TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK

                         NEW JERSEY MUNICIPAL BOND TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of the BlackRock New Jersey
Municipal Bond Trust (the "Trust") held of record by the undersigned on February
27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May
26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------





BLACKROCK NEW JERSEY
MUNICIPAL BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694



                                   DETACH HERE



                                                                            3242

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:


                               (01) FRANK FABOZZI
                             (02) WALTER F. MONDALE
                           (03) RALPH L. SCHLOSSTEIN


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                   BLACKROCK
                        NEW JERSEY MUNICIPAL BOND TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________



                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                         NEW JERSEY MUNICIPAL BOND TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the  preferred  shares of the  BlackRock New
Jersey  Municipal Bond Trust (the "Trust") held of record by the  undersigned on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------





BLACKROCK NEW YORK
MUNICIPAL BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bqh
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3223

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) WALTER F. MONDALE
                (02) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                         NEW YORK MUNICIPAL BOND TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                          NEW YORK MUNICIPAL BOND TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common  shares of the BlackRock New York
Municipal Bond Trust (the "Trust") held of record by the undersigned on February
27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May
26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK NEW YORK
MUNICIPAL BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                                   DETACH HERE


                                                                            3223

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                    (01) FRANK FABOZZI
                  (02) WALTER F. MONDALE
                (03) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.


- --------------------------------------------------------------------------------
                                    BLACKROCK
                          NEW YORK MUNICIPAL BOND TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




                                   DETACH HERE


                                      PROXY

                                    BLACKROCK

                          NEW YORK MUNICIPAL BOND TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the  preferred  shares of the  BlackRock New
York  Municipal  Bond Trust (the "Trust") held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK VIRGINIA
MUNICIPAL BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bhv
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3263

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                  (01) WALTER F. MONDALE
                (02) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                         VIRGINIA MUNICIPAL BOND TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                          VIRGINIA MUNICIPAL BOND TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common shares of the BlackRock  Virginia
Municipal Bond Trust (the "Trust") held of record by the undersigned on February
27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May
26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------




BLACKROCK VIRGINIA
MUNICIPAL BOND TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                                   DETACH HERE


                                                                            3263

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Trustees:


                    (01) FRANK FABOZZI
                  (02) WALTER F. MONDALE
                 (03) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                         VIRGINIA MUNICIPAL BOND TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ____________________________________       Date:_____________________

Co-owner
Signature: ____________________________________       Date:_____________________




                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                          VIRGINIA MUNICIPAL BOND TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of the  BlackRock
Virginia Municipal Bond Trust (the "Trust") held of record by the undersigned on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- --------------------------------------

- --------------------------------------

- --------------------------------------

DO YOU HAVE ANY COMMENTS?

- --------------------------------------

- --------------------------------------

- --------------------------------------


BLACKROCK
MUNICIPAL INCOME TRUST II
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694



                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/ble
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3318

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.


     1. Election of Trustees:

                             (01) WALTER F. MONDALE
                           (02) RALPH L. SCHLOSSTEIN


      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                           MUNICIPAL INCOME TRUST II
- --------------------------------------------------------------------------------
                                 COMMON SHARES

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________



            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                     PROXY

                                   BLACKROCK
                           MUNICIPAL INCOME TRUST II

                                 COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

 The undersigned hereby appoints Anne F. Ackerley, Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of the BlackRock  Municipal
Income Trust II (the "Trust") held of record by the  undersigned on February 27,
2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May 26,
2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------


BLACKROCK
MUNICIPAL INCOME TRUST II
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                                   DETACH HERE


                                                                            3318

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.

1. Election of Trustees:

                               (01) FRANK FABOZZI
                             (02) WALTER F. MONDALE
                           (03) RALPH L. SCHLOSSTEIN



      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                   BLACKROCK
                           MUNICIPAL INCOME TRUST II
- --------------------------------------------------------------------------------
                                PREFERRED SHARES

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.


Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                            MUNICIPAL INCOME TRUST II

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned hereby appoints Anne F. Ackerley, Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of the  BlackRock
Municipal  Income Trust II (the  "Trust") held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------




BLACKROCK CALIFORNIA
MUNICIPAL INCOME TRUST II
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                          ---------------------------

                          ---------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET


LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bkt
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.


            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL



                                                                            3258

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:


                             (01) WALTER F. MONDALE
                            (02) RALPH L. SCHLOSSTEIN


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                    BLACKROCK
                      CALIFORNIA MUNICIPAL INCOME TRUST II
- --------------------------------------------------------------------------------
                                  COMMON SHARES





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________





            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                      CALIFORNIA MUNICIPAL INCOME TRUST II

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of the BlackRock California
Municipal  Income Trust II (the  "Trust") held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------





BLACKROCK CALIFORNIA
MUNICIPAL INCOME TRUST II
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                                   DETACH HERE


                                                                            3258

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.


      1. Election of Trustees:

                               (01) FRANK FABOZZI
                             (02) WALTER F. MONDALE
                           (03) RALPH L. SCHLOSSTEIN


      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                      CALIFORNIA MUNICIPAL INCOME TRUST II
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




                                   DETACH HERE


                                                                           PROXY

                                    BLACKROCK
                      CALIFORNIA MUNICIPAL INCOME TRUST II

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of the  BlackRock
California  Municipal  Income  Trust  II (the  "Trust")  held of  record  by the
undersigned  on February 27, 2004 at the Annual Meeting of  Shareholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------




BLACKROCK NEW YORK
MUNICIPAL INCOME TRUST II
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bfy
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3321

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.


1. Election of Trustees:

                  (01) WALTER F. MONDALE
                 (02) RALPH L. SCHLOSSTEIN


      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                       NEW YORK MUNICIPAL INCOME TRUST II
- --------------------------------------------------------------------------------
                                 COMMON SHARES

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________





            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                       NEW YORK MUNICIPAL INCOME TRUST II

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common  shares of the BlackRock New York
Municipal  Income Trust II (the  "Trust") held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------





BLACKROCK NEW YORK
MUNICIPAL INCOME TRUST II
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                                   DETACH HERE


                                                                            3321

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

    1. Election of Trustees:

                               (01) FRANK FABOZZI
                             (02) WALTER F. MONDALE
                           (03) RALPH L. SCHLOSSTEIN



      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                       NEW YORK MUNICIPAL INCOME TRUST II
- --------------------------------------------------------------------------------
                                PREFERRED SHARES

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                       NEW YORK MUNICIPAL INCOME TRUST II

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the  preferred  shares of the  BlackRock New
York Municipal  Income Trust II (the "Trust") held of record by the  undersigned
on February 27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be
held on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------






BLACKROCK INSURED MUNICIPAL
INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694



                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bym
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3317

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

    1. Election of Trustees:


                  (01) WALTER F. MONDALE
                 (02) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                         INSURED MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

- --------------------------------------------------------------------------------
                                    BLACKROCK
                         INSURED MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common shares of the  BlackRock  Insured
Municipal  Income  Trust  (the  "Trust")  held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------



BLACKROCK INSURED MUNICIPAL
INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                                   DETACH HERE


                                                                            3317

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

    1. Election of Trustees:


                    (01) FRANK FABOZZI
                  (02) WALTER F. MONDALE
                 (03) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                         INSURED MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                         INSURED MUNICIPAL INCOME TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the preferred shares of the BlackRock Insured
Municipal  Income  Trust  (the  "Trust")  held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------



BLACKROCK CALIFORNIA INSURED
MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694



                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bck
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3257

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

    1. Election of Trustees:


                  (01) WALTER F. MONDALE
                 (02) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                    CALIFORNIA INSURED MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                    CALIFORNIA INSURED MUNICIPAL INCOME TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned hereby appoints Anne F. Ackerley, Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of the BlackRock California
Insured  Municipal  Income Trust (the "Trust") held of record by the undersigned
on February 27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be
held on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------





BLACKROCK CALIFORNIA INSURED
MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                                   DETACH HERE



                                                                            3257

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1.Election of Directors:


                               (01) FRANK FABOZZI
                             (02) WALTER F. MONDALE
                           (03) RALPH L. SCHLOSSTEIN


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                    BLACKROCK
                   CALIFORNIA INSURED MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________



            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                    CALIFORNIA INSURED MUNICIPAL INCOME TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of the  BlackRock
California  Insured  Municipal  Income Trust (the "Trust") held of record by the
undersigned  on February 27, 2004 at the Annual Meeting of  Shareholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  STOCKHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------



BLACKROCK FLORIDA
INSURED MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694




                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/baf
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3264

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

    1. Election of Trustees:

                  (01) WALTER F. MONDALE
                 (02) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                     FLORIDA INSURED MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                     FLORIDA INSURED MUNICIPAL INCOME TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned hereby appoints Anne F. Ackerley, Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common shares of the  BlackRock  Florida
Insured  Municipal  Income Trust (the "Trust") held of record by the undersigned
on February 27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be
held on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------





BLACKROCK FLORIDA
INSURED MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                                   DETACH HERE


                                                                            3264

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

    1. Election of Trustees:


                    (01) FRANK FABOZZI
                  (02) WALTER F. MONDALE
                 (03) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                     FLORIDA INSURED MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                     FLORIDA INSURED MUNICIPAL INCOME TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned hereby appoints Anne F. Ackerley, Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the preferred shares of the BlackRock Florida
Insured  Municipal  Income Trust (the "Trust") held of record by the undersigned
on February 27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be
held on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------






BLACKROCK NEW YORK
INSURED MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694





                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bse
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3319

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.


1. Election of Trustees:


                  (01) WALTER F. MONDALE
                (02) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                    BLACKROCK
                     NEW YORK INSURED MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES

Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                     NEW YORK INSURED MUNICIPAL INCOME TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned hereby appoints Anne F. Ackerley, Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common  shares of the BlackRock New York
Insured  Municipal  Income Trust (the "Trust") held of record by the undersigned
on February 27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be
held on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------







BLACKROCK NEW YORK
INSURED MUNICIPAL INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                                   DETACH HERE


                                                                            3319

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.

1. Election of Trustees:


                    (01) FRANK FABOZZI
                  (02) WALTER F. MONDALE
                (03) RALPH L. SCHLOSSTEIN

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                    NEW YORK INSURED MUNICIPAL INCOME TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________






            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                     NEW YORK INSURED MUNICIPAL INCOME TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the  preferred  shares of the  BlackRock New
York  Insured  Municipal  Income  Trust  (the  "Trust")  held of  record  by the
undersigned  on February 27, 2004 at the Annual Meeting of  Shareholders  of the
Trust  to be held  on May  26,  2004  or at any  adjournments  or  postponements
thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------




BLACKROCK
PREFERRED OPPORTUNITY TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bpp
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3322

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.

1.Election of Trustee:


            (01) JAMES CLAYBURN LA FORCE, JR.

      [ ] FOR                              [ ] WITHHOLD
          THE                                  FROM THE
          NOMINEE                              NOMINEE



- --------------------------------------------------------------------------------
                                    BLACKROCK
                          PREFERRED OPPORTUNITY TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________






            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                           PREFERRED OPPORTUNITY TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of the BlackRock  Preferred
Opportunity  Trust (the "Trust") held of record by the  undersigned  on February
27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May
26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------




BLACKROCK
PREFERRED OPPORTUNITY TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                                   DETACH HERE


                                                                            3322

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.

1. Election of Trustees:


                 (01) RICHARD E. CAVANAGH
            (02) JAMES CLAYBURN LA FORCE, JR.

      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                          PREFERRED OPPORTUNITY TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                           PREFERRED OPPORTUNITY TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of the  BlackRock
Preferred  Opportunity  Trust (the "Trust") held of record by the undersigned on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------




BLACKROCK
LIMITED DURATION
INCOME TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/blw
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3516

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.

1. Election of Trustees:


                 (01) RICHARD E. CAVANAGH
            (02) JAMES CLAYBURN LA FORCE, JR.


      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                         LIMITED DURATION INCOME TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________






            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                          LIMITED DURATION INCOME TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of common  shares of the  BlackRock  Limited
Duration  Income  Trust  (the  "Trust")  held of  record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------




BLACKROCK
MUNICIPAL 2020 TERM TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694

                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bkk
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3646

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.

1.Election of Trustee:


            (01) JAMES CLAYBURN LA FORCE, JR.


      [ ] FOR                              [ ] WITHHOLD
          THE                                  FROM THE
          NOMINEE                              NOMINEE


- --------------------------------------------------------------------------------
                                    BLACKROCK
                           MUNICIPAL 2020 TERM TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                            MUNICIPAL 2020 TERM TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the common shares of the BlackRock  Municipal
2020 Term Trust (the "Trust") held of record by the  undersigned on February 27,
2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May 26,
2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------




BLACKROCK
MUNICIPAL 2020 TERM TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                                   DETACH HERE


                                                                            3646

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.

1. Election of Trustees:


                 (01) RICHARD E. CAVANAGH
            (02) JAMES CLAYBURN LA FORCE, JR.


      [ ] FOR                              [ ] WITHHOLD
          ALL                                  FROM ALL
          NOMINEES                             NOMINEES

[ ] __________________________________________
    For all nominees except as noted above


- --------------------------------------------------------------------------------
                                    BLACKROCK
                           MUNICIPAL 2020 TERM TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________





                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                            MUNICIPAL 2020 TERM TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the  reverse  side  hereof,  all of the  preferred  shares  of the  BlackRock
Municipal  2020 Term Trust (the  "Trust") held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------




BLACKROCK FLORIDA
MUNICIPAL 2020 TERM TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694


                           --------------------------

                           --------------------------
                YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.

VOTE-BY-INTERNET

LOG ON TO THE INTERNET AND GO TO
http://www.eproxyvote.com/bfo
[COMPUTER LOGO]

OR

VOTE-BY-TELEPHONE

CALL TOLL-FREE
1-877-PRX-VOTE (1-877-779-8683)
[TELEPHONE LOGO]

  IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.

            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                                                            3645

[X]  PLEASE MARK
     VOTES AS IN
     THIS EXAMPLE.

1. Election of Trustee:


            (01) JAMES CLAYBURN LA FORCE, JR.

      [ ] FOR                              [ ] WITHHOLD
          THE                                  FROM THE
          NOMINEE                              NOMINEE


- --------------------------------------------------------------------------------
                                    BLACKROCK
                       FLORIDA MUNICIPAL 2020 TERM TRUST
- --------------------------------------------------------------------------------
                                 COMMON SHARES


Mark box at right if an address  change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________




            DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL


                                      PROXY

                                    BLACKROCK
                        FLORIDA MUNICIPAL 2020 TERM TRUST

                                  COMMON SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James Kong,
and  each of them,  as  proxies,  each  with the  power  to  appoint  his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common shares of the  BlackRock  Florida
Municipal  2020 Term Trust (the  "Trust") held of record by the  undersigned  on
February 27, 2004 at the Annual Meeting of  Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE  UNDERSIGNED  SHAREHOLDER.  IF NO DIRECTION  IS MADE,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------

DO YOU HAVE ANY COMMENTS?

- ---------------------------------------

- ---------------------------------------

- ---------------------------------------





BLACKROCK
FLORIDA MUNICIPAL
2020 TERM TRUST
C/O EQUISERVE TRUST COMPANY N.A.
P.O. BOX 8694
EDISON, NJ 08818-8694



                                   DETACH HERE



                                                                            3645

[X] PLEASE MARK
    VOTES AS IN
    THIS EXAMPLE.

1. Election of Directors:


                            (01) RICHARD E. CAVANAGH
                       (02) JAMES CLAYBURN LA FORCE, JR.


    [ ] FOR                                     [ ] WITHHOLD
        ALL                                         FROM ALL
        NOMINEES                                    NOMINEES


[ ] _____________________________________________
    For all nominees except as noted above

- --------------------------------------------------------------------------------
                                   BLACKROCK
                        FLORIDA MUNICIPAL 2020 TERM TRUST
- --------------------------------------------------------------------------------
                                PREFERRED SHARES





Mark box at right if an address change or comment has been noted on the reverse
side of this card.                                                           [ ]

Please be sure to sign and date this Proxy.

Signature: ______________________________                Date: _________________

Co-owner
Signature: ______________________________                Date: _________________






                                   DETACH HERE


                                      PROXY

                                    BLACKROCK
                        FLORIDA MUNICIPAL 2020 TERM TRUST

                                PREFERRED SHARES

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned hereby appoints Anne F. Ackerley, Henry Gabbay and James Kong,
and each of them, as proxies, each with the power to appoint his or her
substitute, and hereby authorizes them to represent and to vote, as designated
on the reverse side hereof, all of the preferred shares of the BlackRock Florida
Municipal 2020 Term Trust (the "Trust") held of record by the undersigned on
February 27, 2004 at the Annual Meeting of Shareholders of the Trust to be held
on May 26, 2004 or at any adjournments or postponements thereof.

THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE MANNER DIRECTED HEREIN
BY THE UNDERSIGNED STOCKHOLDER. IF NO DIRECTION IS MADE, THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

- --------------------------------------------------------------------------------
                     PLEASE MARK BOXES IN BLUE OR BLACK INK.
               SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING
                       THE ENCLOSED POSTAGE PAID ENVELOPE.
- --------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------

DO YOU HAVE ANY COMMENTS?

- -------------------------------------------

- -------------------------------------------

- -------------------------------------------



BLACKROCK

                             YOUR VOTE IS IMPORTANT
                          VOTE BY INTERNET / TELEPHONE
                         24 HOURS A DAY, 7 DAYS A WEEK

INTERNET
- --------

https://www.proxyvotenow.com/bdv

o Go to the website address listed above.
o HAVE YOUR PROXY CARD READY.
o Follow the simple instructions that appear on your computer screen.

OR

TELEPHONE
- ---------

1-866-205-9017

o Use any touch-tone telephone.
o HAVE YOUR PROXY CARD READY.
o Follow the simple recorded instructions.

OR

MAIL
- ----

o Mark, sign and date your proxy card.
o Detach your proxy card.
o Return your proxy card in the postage-paid envelope provided.






                                                              ------------------

                                                              ------------------


 PLEASE SUBMIT YOUR INTERNET OR TELEPHONE VOTE BEFORE 4:00 P.M., NEW YORK TIME,
                                ON MAY 25, 2004.
  \/ DETACH PROXY CARD HERE IF YOU ARE NOT VOTING BY TELEPHONE OR INTERNET \/

- --------------------------------------------------------------------------------

             PLEASE SIGN, DATE AND RETURN
             THE PROXY CARD PROMPTLY                 VOTES MUST BE INDICATED
             USING THE ENCLOSED ENVELOPE            (X) IN BLACK OR BLUE INK


1. Election of Trustees:


  FOR                    WITHHOLD            EXCEPTION
  THE        [ ]         FROM THE    [ ]                  [ ]
NOMINEES                 NOMINEES

Nominee: 01 - Richard E. Cavanagh
         02 - James Clayburn La Force, Jr.

(INSTRUCTIONS: TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE, STRIKE
A LINE THROUGH THAT NOMINEE'S NAME AND CHECK THE "EXCEPTIONS" BOX ABOVE.)


- --------------------------------------------------------------------------------
                                   BLACKROCK
                          DIVIDEND ACHIEVERS(TM) TRUST
- --------------------------------------------------------------------------------
                                  COMMON SHARES


                  To change your address, please    mark this box. [ ]

                  To include any comments, please mark this box.    [ ]

- --------------------------------------------------------------------------------

S C A N  L I N E

- --------------------------------------------------------------------------------
Please be sure to sign and date this Proxy.


Date        Share Owner sign here           Co-Owner sign here
- -------------------------------------     --------------------------------------

- -------------------------------------     --------------------------------------


                                      449







                                     PROXY
                      BLACKROCK DIVIDEND ACHIEVERS(TM) TRUST
                                 COMMON SHARES
           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

      The undersigned  hereby appoints Anne F. Ackerley,  Henry Gabbay and James
Kong,  and each of them,  as proxies,  each with the power to appoint his or her
substitute,  and hereby  authorizes them to represent and to vote, as designated
on the reverse side hereof,  all of the common shares of the BlackRock  Dividend
AchieversTM  Trust (the "Trust") held of record by the  undersigned  on February
27, 2004 at the Annual  Meeting of  Shareholders  of the Trust to be held on May
26, 2004 or at any adjournments or postponements thereof.

      THIS PROXY, WHEN PROPERLY  EXECUTED,  WILL BE VOTED IN THE MANNER DIRECTED
HEREIN BY THE UNDERSIGNED SHAREHOLDER.  IF NO DIRECTION IS MADE, THIS PROXY WILL
BE VOTED FOR THE  PROPOSAL.


Continued on the reverse side. Must be signed and dated on the reverse side.

HAS YOUR ADDRESS CHANGED?

- ------------------------------
                                         BLACKROCK DIVIDEND ACHIEVERS(TM) TRUST
- ------------------------------           P.O. BOX 11325
                                         NEW YORK, N.Y. 10203-0325
- ------------------------------


DO YOU HAVE ANY COMMENTS?

- ------------------------------

- ------------------------------

- ------------------------------