UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT
INVESTMENT COMPANY
Investment Company Act File Number: 811-05495
BlackRock High Income Shares
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(Exact name of registrant as specified in charter)
100 Bellevue Parkway, Wilmington DE 19809
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(Address of principal executive offices) (Zip code)
Robert S. Kapito, President
40 East 52nd Street
New York, New York 10022
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(name and address of agent for service)
Registrant's telephone number, including area code: (888) 825-2257
Date of fiscal year end: 12/31
Date of reporting period: 07/01/2004 - 06/30/2005
========================= BLACKROCK HIGH INCOME SHARES =========================
ITEM 1 PROXY VOTING RECORD
Emmis Communication
Ticker: EMMS Security ID: 291525202
Meeting Date: June 13, 2005 Meeting Type: Special
Record Date: May 5, 2005
# Proposal Mgt Rec Vote Cast Sponsor
1 Proposal to approve the amendments to For For Management
The articles of incorporation
SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BlackRock High Income Shares
by /s/ Robert S. Kapito
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Robert S. Kapito
Principal Executive Officer
Date: November 8, 2005