DEF 14A 1 c23079_def14a.txt DEFINITIVE PROXY STATEMENT 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: [_] Preliminary Proxy Statement [_] Soliciting Material Under Rule [_] Confidential, For Use of the 14a-12 Commission Only (as permitted by Rule 14a-6(e)(2)) [X] Definitive Joint 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 NORTH AMERICAN GOVERNMENT INCOME TRUST INC. ("BNA") THE BLACKROCK INSURED MUNICIPAL TERM TRUST INC. ("BMT") THE BLACKROCK STRATEGIC TERM TRUST INC. ("BGT") 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") -------------------------------------------------------------------------------- (Name of Registrants as Specified In Their Charters) -------------------------------------------------------------------------------- (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check the appropriate box): [X] No fee required. [_] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. 1) Title of each class of securities to which transaction applies: ________________________________________________________________________________ 2) Aggregate number of securities to which transaction applies: ________________________________________________________________________________ 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): ________________________________________________________________________________ 4) Proposed maximum aggregate value of transaction: ________________________________________________________________________________ 5) Total fee paid: ________________________________________________________________________________ [_] Fee paid previously with preliminary materials: ________________________________________________________________________________ [_] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing. 1) Amount previously paid: ________________________________________________________________________________ 2) Form, Schedule or Registration Statement No.: ________________________________________________________________________________ 3) Filing Party: ________________________________________________________________________________ 4) Date Filed: ________________________________________________________________________________ [BLACKROCK LOGO] ---------------- NOTICE OF JOINT ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 23, 2002 ---------------- 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") 800 SCUDDERS MILL ROAD PLAINSBORO, NEW JERSEY 08536 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 NORTH AMERICAN GOVERNMENT INCOME TRUST INC. ("BNA") GATEWAY CENTER THREE 100 MULBERRY STREET NEWARK, NEW JERSEY 07102 THE BLACKROCK INSURED MUNICIPAL TERM TRUST INC. ("BMT") 51 WEST 52ND STREET NEW YORK, NEW YORK 10019 (CONT.) THE BLACKROCK STRATEGIC TERM TRUST INC. ("BGT") 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") 100 BELLEVUE PARKWAY WILMINGTON, DELAWARE 19809 (THE "TRUSTS") ---------------- NOTICE OF JOINT ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 23, 2002 ---------------- To the Stockholders/Shareholders of BKN, BRM, BFC, BRF, BLN, BCT, BKT, BHY, BQT, BAT, BMN, RAA, RFA, RNJ, RNY, BNA, BMT, BGT, BPS, BSD, BBF, BFK, BFZ, BNJ, BNY, BJZ, BPK, BLH, BHK and BHD (collectively, the "Trusts"): The Joint Annual Meeting of Stockholders/Shareholders of the Trusts will be held at the East Side Marriott, 525 Lexington Avenue, New York, New York on Thursday, May 23, 2002 at 10:00 a.m. (New York City Time) for the following purposes: 1. With respect to BNA, BKT, BQT, BMN, BMT, BBF, BFK, BFZ, BNJ, BNY, BJZ, BPK, BLH, BHK and BHD to elect two Directors (or, where applicable, Trustees) and with respect to RNY, RNJ, RFA, RAA, BSD, BPS, BCT, BGT, BAT, BKN, BRM, BFC, BRF, BLN and BHY to elect three Directors (or, where applicable, Trustees) and each to hold office for the term indicated until their successors shall have been elected and qualified; 2. To transact such other business as may properly come before the 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 PROPOSAL. We encourage you to contact BlackRock at (800) 227-7BFM (7236) if you have any questions. The Board of each Trust has fixed the close of business on February 28, 2002, as the record date for the determination of Stockholders/Shareholders entitled to notice of, and to vote at, the meeting. By order of the Board of each Trust Anne F. Ackerley, Secretary New York, New York April 1, 2002 -------------------------------------------------------------------------------- IT IS IMPORTANT THAT YOUR SHARES BE REPRESENTED AT THE MEETING IN PERSON OR BY PROXY; IF YOU DO NOT EXPECT TO ATTEND THE MEETING, PLEASE COMPLETE, DATE, SIGN AND RETURN THE APPROPRIATE ENCLOSED PROXY OR PROXIES IN THE ACCOMPANYING ENVELOPE PROVIDED FOR YOUR CONVENIENCE, WHICH REQUIRES NO POSTAGE IF MAILED IN THE UNITED STATES. -------------------------------------------------------------------------------- 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") 800 SCUDDERS MILL ROAD PLAINSBORO, NEW JERSEY 08536 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 NORTH AMERICAN GOVERNMENT INCOME TRUST INC. ("BNA") GATEWAY CENTER THREE 100 MULBERRY STREET NEWARK, NEW JERSEY 07102 THE BLACKROCK INSURED MUNICIPAL TERM TRUST INC. ("BMT") 51 WEST 52ND STREET NEW YORK, NEW YORK 10019 THE BLACKROCK STRATEGIC TERM TRUST INC. ("BGT") 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") 100 BELLEVUE PARKWAY WILMINGTON, DELAWARE 19809 (THE "TRUSTS") ------------- JOINT PROXY STATEMENT ------------- FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 23, 2002 INTRODUCTION This joint 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 or Shareholders, as the case may be, of the Trusts to be held on May 23, 2002, and any adjournment or postponement thereof (the "Meeting"). The Meeting will be held at the East Side Marriott Hotel, 525 Lexington Avenue, New York, New York, on May 23, 2002 at 10:00 a.m. (New York City Time). As used in the Notice of Joint Annual Meeting of Stockholders and as used herein, the term "Directors" shall include Trustees, the term "Stockholders" shall include Shareholders and the term "stock" shall include share where the use of the terms "Trustees" or "Shareholders" or "share" would otherwise be appropriate. This proxy statement and the enclosed proxy card are first being sent to the Trusts' stockholders on or about April 1, 2002. The Meeting is scheduled as a joint meeting of the respective stockholders of the Trusts because the stockholders of all the Trusts are expected to consider and vote on similar matters. The Board of each Trust has determined that the use of a joint Proxy Statement for the Meeting is in the best interest of each Trust's stockholders. In the event that any stockholder present at the Meeting objects to the holding of a joint meeting and moves for an adjournment of his Trust's meeting to a time immediately after the Meeting so that such Trust's meeting may be held separately, the persons named as proxies will vote in favor of such adjournment. Stockholders of each Trust will vote separately on the Proposal relating to their Trust, and an unfavorable vote on a Proposal by the stockholders of one Trust will not affect the implementation of such Proposal by another Trust if the Proposal is approved by the stockholders of that Trust. The cost of soliciting proxies will be borne by each of the Trusts in proportion to the amount of proxies solicited on behalf of each Trust. In addition, certain officers, directors and employees of each of the Trusts, Prudential Investments Fund Management LLC, located at Gateway Center Three, 100 Mulberry Street Newark, New Jersey 07102, Princeton Administrators L.P., located at 800 Scudders Mill Road, Plainsboro, New Jersey 08536, Brinson Advisors, Inc., located at 51 West 52nd Street, New York, New York 10019, BlackRock Advisors, Inc., located at 100 Bellevue Parkway, Wilmington, Delaware 19809, (the "Advisor") (none of whom will receive additional compensation therefor) may solicit proxies by telephone or mail. In addition, 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 per Trust. The affirmative vote of a plurality of the shares present at the Meeting at which a quorum is present is necessary to elect the Director nominees. Broker non-votes are shares held in street name for which instructions on a particular proposal have not been received from the beneficial owners or other persons entitled to vote and the broker does not have discretionary voting authority. Abstentions and broker non-votes will be counted as shares present for purposes of determining whether a quorum is present. Abstentions and broker non-votes will have no effect on the outcome of the vote on the Proposal. All properly executed proxies received prior to the Meeting will be voted at the 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 Funds by delivering a subsequently dated Proxy or by attending and voting at the Meeting. 1 The Board of each Trust has fixed the close of business on February 28, 2002, as the record date for the determination of stockholders of each Trust entitled to notice of, and to vote at, the Meeting. Stockholders 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. The holders of any Trust's preferred stock will have equal voting rights with the holders of that Trust's common stock (i.e., one vote per share), and will vote together with the holders of common stock as a single class on the proposal to elect Directors, except that the holders of preferred stock of each Trust which is electing Class I or II directors at this meeting, voting separately as a class, will separately elect a Director from each of such classes. The two Directors that have been designated as representing the holders of each respective Trust's preferred stock are Richard E. Cavanagh and Frank J. Fabozzi (see "Proposal: Election of Directors," below). Pursuant to the rules promulgated by the Securities and Exchange Commission the following table sets forth the proposal to be voted on by each Trust:

FUND VOTE ON DIRECTORS OF CLASS NUMBER ---- --------------------------------- BBF I BFK I BFZ I BHD I BHK I BJZ I BKT I BLH I BMN I BMT I BNA I BNJ I BNY I BPK I BQT I BAT II BCT II BGT II BPS II BSD II RAA II RFA II RNJ II RNY II BFC III BHY III BKN III BLN III BRF III BRM III

2 The following table sets forth the number of outstanding shares for each Trust at the close of business on February 28, 2002:

TRUST OUTSTANDING SHARES OF OUTSTANDING SHARES OF 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 62,849,878 -- BHY 6,331,805 -- 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 34,553,293 -- BMT 25,885,639 6,816 BGT 57,510,639 -- BPS 2,015,492 700 BSD 7,242,261 2,480 BBF 6,629,838 2,302 BFK 43,409,271 15,005 BFZ 14,972,517 5,278 BNJ 7,389,401 2,552 BNY 12,465,317 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 7,009,425 --

For each Trust in the above table the class or classes of stock listed above are the only authorized class or classes of stock. The principal executive offices of BKN, BRM, BFC, BRF, BLN and BCT are located at 800 Scudders Mill Road, Plainsboro, New Jersey 08536, the principal executive offices of BKT, BHY, BQT, BAT, BMN, RAA, RFA, RNJ, RNY and BNA are located at Gateway Center Three, 100 Mulberry Street, Newark, New Jersey 07102, the principal executive office of BMT is located at 51 West 52nd Street, New York, New York 10019 and the principal executive offices of BGT, BPS, BSD, BBF, BFK, BFZ, BNJ, BNY, BJZ, BPK, BLH, BHK and BHD are located at 100 Bellevue Parkway, Wilmington, Delaware 19809. 3 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 STOCKHOLDER UPON REQUEST. REQUESTS SHOULD BE DIRECTED TO BLACKROCK ADVISORS, INC., 100 BELLEVUE PARKWAY, WILMINGTON, DE 19809 (TELEPHONE NUMBER (800) 227-7BFM (7236)). As of February 28, 2002, to the knowledge of each Trust, no person beneficially owned more than 5% of any Trust except as set forth in the following table:

NAME & ADDRESS OF AMOUNT OF BENEFICIAL TRUST BENEFICIAL OWNER OWNERSHIP PERCENT OF CLASS BNA Wachovia Corporation 11,598,848 33.3% One Wachovia Center Charlotte, North Carolina 28288-0137 BCT Karpus Management, Inc. 155,125 5.3% 14 Tobey Village Office Park Pittsford, New York 14534 BAT Karpus Management, Inc. 1,136,525 12.0% 14 Tobey Village Office Park Pittsford, New York 14534 BAT SIT Investment Associates, 611,200 6.4% Inc. 4600 Norwest Center 90 South Seventh Street Minneapolis, MN 55402 BGT Federal Home Loan Mortgage 3,526,800 6.1% Corporation 8200 Jones Branch Drive Mclean, Virginia 22102 BGT Wachovia Corporation 9,617,280 16.7% One Wachovia Center Charlotte, North Carolina 28288-0137 RAA 242,400 24.1% M.H. Whittier Corporation, James E. Greene, Arlo G. Sorensen, Michael J. Casey & Whittier Trust Company, 1600 Huntington Drive, South Pasadena, California 91030

With respect to the above chart, all stock is common stock. PROPOSAL: ELECTION OF DIRECTORS With respect to BMN, BKT, BMT, BQT, BBF, BFK, BFZ, BNJ, BNA, BNY, BJZ, BPK, BLH, BHK and BHD at the Meeting, Class I Directors will be elected to serve for a term of three years and until their successors are elected and qualified. With respect to BCT, BAT, RAA, RFA, RNJ, RNY, BGT, BPS, and BSD and at the Meeting, Class II Directors will be elected to serve for a term of three years and until their successors are elected and qualified. With respect to BRM, BFC, BRF, BLN, BKN and BHY at the Meeting, Class III Directors will be elected to serve for a term of three years and until their successors are elected and qualified. There are two or three 4 nominees with respect to each of the Trusts because each Trust's Board is classified into three classes and only one class is being elected at the Meeting. The other classes will be elected at subsequent annual meetings of stockholders. In addition, with respect to BAT, BCT, and BQT respectively, nominees elected as Directors of BAT, BCT, and BQT, respectively, will be appointed by BAT, BCT and BQT respectively, to serve as Directors of their respective wholly-owned subsidiaries, BAT Subsidiary Inc. ("BATS"), BCT Subsidiary Inc. ("BCTS") and BQT Subsidiary Inc. ("BQTS"), each of which has identical investment objectives and policies to BAT, BCT, and BQT respectively. For each of the Trusts, the affirmative vote of a plurality of the shares present at the Meeting at which a quorum is present is required to elect the nominees representing the common stock and for each Trust with a class of preferred stock, the affirmative vote of a plurality of the preferred stock shares of each Trust electing Class I or II directors at this meeting present at the Meeting is required to elect Messrs. Fabozzi and Cavanagh. It is the intention of the persons named in the enclosed proxy to vote in favor of the election of the persons listed below. THE BOARD OF EACH TRUST UNANIMOUSLY RECOMMENDS THAT YOU VOTE "FOR" THE NOMINEES. The Board of each Trust knows of no reason why any of the nominees listed below will be unable to serve, but in the event of any such unavailability, the proxies received will be voted for such substitute nominees as each Board may recommend. INFORMATION REGARDING NOMINEES AND DIRECTORS Certain information concerning the nominees for each of the Trusts is set forth 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 that 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, BMT and BGT) on August 11, 1994 to fill a vacancy; with respect to BKT, BQT, BAT, BGT, BMN, BNA and BMT, James Clayburn La Force, Jr. has served as Director since his election at the Trusts' annual meeting of stockholders on June 19, 1992; and Walter F. Mondale, who was previously a Director of BKN, BRM, BFC, BLN, BCT, BKT, BQT, BAT, BMN, BMT, BGT, 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 stockholders on April 15, 1997. In addition, Mr. Laurence D. Fink serves as Chairman of the Board and a Director of Anthracite Capital, Inc., Director of BlackRock's offshore funds and alternative investment vehicles and President, Treasurer and Trustee of the BlackRock Funds. Mr. Ralph L. Schlosstein also serves as a Chairman and President of the BlackRock Provident Institutional Funds and Director of several of BlackRock's alternative investment vehicles. 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 by Section 2(a)(19) of the Investment Company Act of 1940) are indicated by an asterisk(*). Unless specified otherwise below, the business address of the Directors and officers of each of the Trusts is 345 Park Avenue, New York, New York 10154 and the address of the Advisor is 100 Bellevue Parkway, Wilmington, Delaware 19809. 5

NUMBER OF PORTFOLIOS IN FUND COMPLEX OVERSEEN BY OTHER DIRECTORSHIPS HELD BY NAME, ADDRESS AND PRINCIPAL OCCUPATION(S) DIRECTOR OR NOMINEE FOR DIRECTOR OR NOMINEE FOR AGE(1) DURING PAST 5 YEARS DIRECTOR DIRECTOR --------------------- ---------------------------- -------------------------- ---------------------------- INTERESTED DIRECTORS: Laurence D. Fink* Chairman and Chief 30(2) President, Treasurer and a Age: 49 Executive Officer of Trustee of the BlackRock Class III BlackRock, Inc. since its Funds, Chairman of the Board formation in 1998 and of and Director of Anthracite BlackRock, Inc.'s Capital, Inc., a Director of predecessor entities since BlackRock's offshore funds 1988. Chairman of the and alternative investment Management Committee. vehicles and Chairman of the Formerly, Managing Director Board of Nomura BlackRock of the First Boston Asset Management Co., Ltd. Corporation, Member of its Currently, Co-Chairman of Management Committee, the Co-head of its Taxable Board of Trustees of Mount Fixed Income Division and Sinai-New York University Head of its Mortgage and Medical Center and Health Real Estate Products Group. System and a Member of the Currently, Chairman of the Board of Phoenix House. Board of each of the closed-end Trusts in which BlackRock Advisors, Inc. acts as investment advisor. Ralph L. Schlosstein* Director since 1999 and 30(2) Chairman and President of the Age 51 President of BlackRock, Inc. BlackRock Provident Class II since its formation in 1998 Institutional Funds. and of BlackRock, Inc.'s Director of several of predecessor entities since BlackRock's alternative 1988. Member of the investment vehicles. Management Committee and Currently, a Member of the Investment Strategy Group of Visiting Board of Overseers BlackRock, Inc. Formerly, of the John F. Kennedy School Managing Director of Lehman of Government at Harvard Brothers, Inc. and Co-head University, the Financial of its Mortgage and Savings Institutions Center Board of Institutions Group. the Wharton School of the Currently, President and University of Pennsylvania, a Director of each of the trustee of Trinity School in closed-end Trusts in which New York City and a Trustee BlackRock Advisors, Inc. of New Visions for Public acts as investment advisor. Education in New York City. Formerly, a Director of Pulte Corporation and a Member of Fannie Mae's Advisory Council. INDEPENDENT DIRECTORS: Andrew F. Brimmer President of Brimmer & 30(2) Director of CarrAmerica P.O. Box 4546 Company, Inc., a Realty Corporation and New York, NY 10163 Washington, D.C.-based Borg-Warner Automotive. Age: 75 economic and financial Formerly member of the Board Class III consulting firm. Lead of Governors of the Federal Director and Chairman of Reserve System. Formerly the Audit Committee of each Director of AirBorne Express, of the closed-end Trusts in BankAmerica Corporation (Bank which BlackRock Advisors of America), Bell South Inc. acts as investment Corporation, College advisor. Retirement Equities Fund.

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NUMBER OF PORTFOLIOS IN FUND COMPLEX OVERSEEN BY OTHER DIRECTORSHIPS HELD BY NAME, ADDRESS AND PRINCIPAL OCCUPATION(S) DIRECTOR OR NOMINEE FOR DIRECTOR OR NOMINEE FOR AGE(1) DURING PAST 5 YEARS DIRECTOR DIRECTOR --------------------- ---------------------------- -------------------------- ---------------------------- Andrew F. Brimmer (Trustee), Commodity (cont.) Exchange, Inc. (Public Governor), Connecticut Mutual Life Insurance Company, E.I. Dupont de Nemours & Company, Equitable Life Assurance Society of the United States, Gannett Company, Mercedes-Benz of North America, MNC Financial Corporation (American Security Bank), NMC Capital Management, Navistar International Corporation, PHH Corp. and UAL Corporation (United Airlines). Richard E. Cavanagh President and Chief 30(2) Trustee Emeritus, Wesleyan P.O. Box 4546 Executive Officer of The University, Trustee: Drucker New York, NY 10163 Conference Board, Inc., a Foundation, Airplanes Group, Age: 55 leading global business Aircraft Finance Trust (AFT) Class I membership organization, and Educational Testing from 1995-present. Former Service (ETS). Director, Executive Dean of the John Arch Chemicals, Fremont Group F. Kennedy School of and The Guardian Life Government at Harvard Insurance Company of America. University from 1988-1995. Acting Director, Harvard Center for Business and Government (1991-1993). Formerly Partner (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. 30(2) Former Director of ISFA (the P.O. Box 4546 Former President and Chief owner of INVEST, a national New York, NY 10163 Executive Officer of Empire securities brokerage service Age: 64 Federal Savings Bank of designed for banks and thrift Class III America and Banc PLUS institutions). Savings Association, former Chairman of the Board, President and Chief Executive Officer of Northeast Savings.

7

NUMBER OF PORTFOLIOS IN FUND COMPLEX OVERSEEN BY OTHER DIRECTORSHIPS HELD BY NAME, ADDRESS AND PRINCIPAL OCCUPATION(S) DIRECTOR OR NOMINEE FOR DIRECTOR OR NOMINEE FOR AGE(1) DURING PAST 5 YEARS DIRECTOR DIRECTOR --------------------- ---------------------------- -------------------------- ---------------------------- Frank J. Fabozzi Consultant. Editor of THE 30(2) Director, Guardian Mutual P.O. Box 4546 JOURNAL OF PORTFOLIO Funds Group. New York, NY 10163 MANAGEMENT and Adjunct Age: 53 Professor of Finance at the Class II School of Management at Yale University. Author and editor of several books on fixed income portfolio management. 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 30(2) Director, Jacobs Engineering P.O. Box 4546 E. Anderson Graduate School Group, Inc., Payden & Rygel New York, NY 10163 of Management, University Investment Trust, Provident Age: 73 of California since July 1, Investment Counsel Funds, Class I 1993. Acting Dean of The Timken Company and Trust for School of Business, Hong Investment Managers. Kong University of Science and Technology 1990-1993. from 1978 to September 1993, Dean of The John E. Anderson Graduate School of Management, University of California. Walter F. Mondale Partner, Dorsey & 30(2) Director, Northwest Airlines P.O. Box 4546 Whitney, a law firm Corp., UnitedHealth Group. New York, NY 10163 (December 1996 - Formerly, Director RBC Dain Age: 74 present, September 1987 Rauscher Inc. Class II - August 1993). Formerly U.S. Ambassador to Japan (1993 - 1996). Formerly, Vice President of the United States, U.S. Senator and Attorney General of the State of Minnesota. 1984 Democratic Nominee for President of the United States.

---------- (1) Only Class I Directors are standing for election at the Meeting by BMN, BNA, BKT, BMT, BQT, BBF, BFK, BFZ, BNJ, BNY, BJZ, BPK, BLH, BHK and BHD, only Class II Directors are standing for election at the Meeting by BCT, BAT, RAA, RFA, RNJ, RNY, BGT, BPS and BSD and only Class III Directors are standing for election at the Meeting by BRM, BFC, BRF, BLN, BKN and BHY. (2) As of the date of this proxy statement the Fund Complex consists of 30 active closed-end funds, each with one investment portfolio. 8 HOLDINGS OF DIRECTORS 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.

TRUST SHARE SHARES EQUIVA- % OF SHARES DIRECTOR TRUST OWNED(1) LENTS(2) OUTSTANDING ---------------------- ------- -------- --------- ------------- INTERESTED DIRECTORS: Laurence D. Fink* BKT 16,680 -- (3) BAT 10 -- BGT 10 -- BMN 10 -- BMT 10 -- BRM 10 -- RNJ 10 -- BCT 10 -- BQT 10 -- BKN 10 -- BSD 10 -- BHY 1,000 -- BNA 10 -- BNJ 10 -- BFK 10 -- BPK 10 -- BHK 10 -- Ralph L. Schlosstein* BKT 6,000 -- (3) BAT 100 -- BGT 100 -- BMN 100 -- BMT 100 -- BRM 100 -- BLN 100 -- BKN 100 -- RNY 100 -- BCT 100 -- BQT 100 -- BSD 100 -- BHY 1,000 -- BNA 1,500 -- BFK 100 -- BPK 100 -- BHK 100 -- BNY 100 -- BLH 100 -- INDEPENDENT DIRECTORS: Andrew F. Brimmer BKT 110 1,010 (3) BAT 10 690

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TRUST SHARE SHARES EQUIVA- % OF SHARES DIRECTOR TRUST OWNED(1) LENTS(2) OUTSTANDING ---------------------- ------- -------- --------- ------------- Andrew F. Brimmer BGT 10 -- (cont.) BMN 10 -- BMT 10 -- BRM 10 -- BKN 10 -- BCT 20 597 BQT 10 849 BSD 25 -- BHY 200 587 BNA 10 711 BFK 100 -- BPK 25 -- BHK 25 -- Richard E. Cavanagh BKN 500 -- (3) BKT 500 3,164 BAT 100 -- BGT 100 -- BMN 100 -- BMT 100 -- BRM 100 -- BLN 100 -- RNY 100 -- BCT 100 -- BQT 100 -- BSD 500 -- BHY 200 1,956 BNA 100 -- BFK 300 -- BPK 300 -- BHK 500 -- BNY 300 -- BLH 100 -- Kent Dixon BKT 22,000 -- (3) BAT 100 -- BGT 100 -- BMN 100 -- BMT 100 -- BRM 100 -- BRF 100 -- BKN 100 -- RFA 100 -- BCT 100 -- BQT 100 -- BSD 100 -- BHY 5,000 -- BNA 100 -- BFK 100 -- BPK 100 -- BHK 100 -- BBF 100 --

10

TRUST SHARE SHARES EQUIVA- % OF SHARES DIRECTOR TRUST OWNED(1) LENTS(2) OUTSTANDING ---------------------- ------- -------- --------- ------------- Frank J. Fabozzi BKT 10 -- (3) BAT 10 -- BGT 10 -- BMN 10 -- BMT 10 -- BRM 10 -- BKN 10 -- BCT 10 -- BQT 10 -- BSD 100 -- BPS 100 -- BHY 10 -- BNA 10 -- BFK 20 -- BPK 20 -- BHK 20 -- James Clayburn BKT 10 6,406 (3) La Force, Jr. BAT 10 4,174 BGT 10 -- BMN 10 -- BMT 10 -- BRM 10 -- BFC 3,410 -- BKN 10 -- RAA 10 -- BCT 10 3,194 BQT 10 5,098 BSD 750 -- BHY 1,000 4,258 BNA 10 4,212 BFK 100 -- BPK 100 -- BHK 100 -- BFZ 100 -- BJZ 100 -- Walter F. Mondale BKT 20 2,938 (3) BAT 20 1,920 BGT 20 -- BMN 1,020 -- BMT 1,020 -- BQT 20 2,345 BRM 20 -- BKN 20 -- BCT 20 1,493 BSD 20 -- BHY 300 1,914 BNA 20 1,976 BHK 1,000 -- BFK 20 -- BPK 1,000 --

11 ---------- (1) As of February 28, 2002. If a Trust is not listed the Director does not own any shares of the Trust. (2) Represents, as of February 28, 2002, the approximate number of share equivalents owned under the deferred compensation plan (described below) 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 and BQT are eligible investments. Messrs. Fink and Schlosstein are not eligible to participate in the deferred compensation plan. (3) Less than 1% of each Trust listed (including share equivalents). The following table sets forth the dollar range of equity securities beneficially owned and share equivalents held by each Director.

AGGREGATE AGGREGATE DOLLAR NAME DOLLAR RANGE OF EQUITY DOLLAR RANGE OF DOLLAR RANGE OF SHARE RANGE OF EQUITY ---- SECURITIES IN EACH TRUST(1)(2) EQUITY EQUIVALENTS IN EACH TRUST SECURITIES AND ------------------------------ SECURITIES OF ALL ------------------------- SHARE EQUIVALENTS TRUST DOLLAR RANGE TRUSTS(1)(2) TRUST DOLLAR RANGE OF ALL THE TRUSTS ----- ------------ ------------ ----- ------------ ----------------- INTERESTED DIRECTORS: Laurence D. Fink BKT over $100,000 over $100,000 BKT -- Over $100,000(2) BAT $1-$10,000 BAT -- BGT $1-$10,000 BGT -- 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 $1-$10,000 BNA -- RNJ $1-$10,000 RNJ -- BNJ $1-$10,000 BNJ -- BFK $1-$10,000 BFK -- BPK $1-$10,000 BPK -- BHK $1-$10,000 BHK -- Ralph L. Schlosstein BKT $10,001-$50,000 $50,001-$100,000 BKT -- $50,0001-$100,000(2) BAT $1-$10,000 BAT -- BGT $1-$10,000 BGT -- 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 --

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AGGREGATE AGGREGATE DOLLAR NAME DOLLAR RANGE OF EQUITY DOLLAR RANGE OF DOLLAR RANGE OF SHARE RANGE OF EQUITY ---- SECURITIES IN EACH TRUST(1)(2) EQUITY EQUIVALENTS IN EACH TRUST SECURITIES AND ------------------------------ SECURITIES OF ALL ------------------------- SHARE EQUIVALENTS TRUST DOLLAR RANGE TRUSTS(1)(2) TRUST DOLLAR RANGE OF ALL THE TRUSTS ----- ------------ ------------ ----- ------------ ----------------- Ralph L. Schlosstein BHY $10,001-$50,000 BHY -- (cont.) BNA $10,001-$50,000 BNA -- BKN $1-$10,000 BKN -- RNY $1-$10,000 RNY -- BFK $1-$10,000 BFK -- BPK $1-$10,000 BPK -- BHK $1-$10,000 BHK -- BNY $1-$10,000 BNY -- BLH $1-$10,000 BLH -- INDEPENDENT DIRECTORS: Andrew F. Brimmer BKT $1-$10,000 $1-$10,000 BKT $1-$10,000 $50,001-$100,000 BAT $1-$10,000 BAT $1-$10,000 BGT $1-$10,000 BGT -- 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 -- Richard E. Cavanagh BKT $1-$10,000 $10,000-$50,000 BKT $10,001-$50,000 $50,001-$100,000 BAT $1-$10,000 BAT -- BGT $1-$10,000 BGT -- 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 $10,001-$50,000 BNA $1-$10,000 BNA -- BRF $1-$10,000 BRF -- RFA $1-$10,000 RFA -- BFK $1-$10,000 BFK -- BPK $1-$10,000 BPK -- BHK $1-$10,000 BHK -- BNY $1-$10,000 BNY -- BLH $1-$10,000 BLH -- Kent Dixon BKT over $100,000 over $100,000 BKT -- over $100,000 BAT $1-$10,000 BAT -- BGT $1-$10,000 BGT -- BMN $1-$10,000 BMN --

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AGGREGATE AGGREGATE DOLLAR NAME DOLLAR RANGE OF EQUITY DOLLAR RANGE OF DOLLAR RANGE OF SHARE RANGE OF EQUITY ---- SECURITIES IN EACH TRUST(1)(2) EQUITY EQUIVALENTS IN EACH TRUST SECURITIES AND ------------------------------ SECURITIES OF ALL ------------------------- SHARE EQUIVALENTS TRUST DOLLAR RANGE TRUSTS(1)(2) TRUST DOLLAR RANGE OF ALL THE TRUSTS ----- ------------ ------------ ----- ------------ ----------------- Kent Dixon BMT $1-$10,000 BMT -- (cont.) 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 $50,001-$100,000 BHY -- BNA $1-$10,000 BNA -- BRF $1-$10,000 BRF -- RFA $1-$10,000 RFA -- BFK $1-$10,000 BFK -- BPK $1-$10,000 BPK -- BHK $1-$10,000 BHK -- BBF $1-$10,000 BBF -- Frank J. Fabozzi BKT $1-$10,000 $1-$10,000 BKT -- $1-$10,000 BAT $1-$10,000 BAT -- BGT $1-$10,000 BGT -- 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 -- BPS $1-$10,000 BPS -- BFK $1-$10,000 BFK -- BPK $1-$10,000 BPK -- BHK $1-$10,000 BHK -- James Clayburn La BKT $1-$10,000 $50,001-$100,000 BKT $10,001-$50,000 over $100,000 Force, Jr. BAT $1-$10,000 BAT $10,001-$50,000 BGT $1-$10,000 BGT -- 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 $10,001-$50,000 BSD -- BHY $10,001-$50,000 BHY $10,001-$50,000 BNA $1-$10,000 BNA $10,001-$50,000 BFC $50,001-$100,000 BFC -- RAA $1-$10,000 RAA -- BFK $1-$10,000 BFK -- BPK $1-$10,000 BPK -- BHK $1-$10,000 BHK -- BFZ $1-$10,000 BFZ -- BJZ $1-$10,000 BJZ --

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AGGREGATE AGGREGATE DOLLAR NAME DOLLAR RANGE OF EQUITY DOLLAR RANGE OF DOLLAR RANGE OF SHARE RANGE OF EQUITY ---- SECURITIES IN EACH TRUST(1)(2) EQUITY EQUIVALENTS IN EACH TRUST SECURITIES AND ------------------------------ SECURITIES OF ALL ------------------------- SHARE EQUIVALENTS TRUST DOLLAR RANGE TRUSTS(1)(2) TRUST DOLLAR RANGE OF ALL THE TRUSTS ----- ------------ ------------ ----- ------------ ----------------- 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 BGT $1-$10,000 BGT -- 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 $10,001-$50,000 BNA $1-$10,000 BNA $10,001-$50,000 BFK $1-$10,000 BFK -- BPK $10,001-$50,000 BPK -- BHK $10,001-$50,000 BHK --

-------------- (1) As of February 28, 2002. If a Trust is not listed the Director does not own any shares of the Trust. (2) Messrs. Fink and Schlosstein 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. MEETINGS AND COMMITTEES OF THE BOARD OF EACH TRUST MEETINGS OF THE BOARDS Eight meetings of the Board of BNA and six meetings of the Boards of BCT, BHY, BKN, BKT, RAA, RFA, RNJ and RNY were held between November 1, 2000 and October 31, 2001. Seven meetings of the Boards of BMN, BFC, BLN, BMT, BRF and BRM and six meetings of the Boards of BPS, BQT, BAT, BGT and BSD were held between January 1, 2001 and December 31, 2001. Each Trust has an Executive Committee composed of Messrs. Fink and Schlosstein. Seven meetings of the Executive Committee of BCT, BHY, BKN, BKT, BNA, RAA, RFA, RNJ and RNY and were held between November 1, 2000 and October 31, 2001. Seven meetings of the Executive Committee of BAT, BFC, BGT, BLN, BMN, BMT, BPS, BRF, BRM, BQT and BSD were held between January 1, 2001 and December 31, 2001. AUDIT COMMITTEE Each of the Trusts has an Audit Committee composed of all the Directors who are not interested persons of such Trust or the Advisor (the "Independent Directors") which is charged with recommending a firm of independent accountants to its respective Trust and reviewing accounting matters with the accountants. With respect to BCT, BHY, BKN, BKT, BNA, RAA, RFA, RNJ and RNY, there were four meetings of the Audit Committee held between November 1, 2000 and October 31, 2001, two of which were "in person" and two of which were telephonic. With respect to BAT, BFC, BGT, BLN, BMN, BMT, BPS, BRF, BRM, BQT and BSD, there were two meetings of the Audit Committee held between January 1, 2001 and December 31, 2001. 15 The Audit Committee of the Trusts present the following report: The Audit Committee of each Trust (except for BHK and BHD) 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 Statements 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. BHK and BHD are newly organized and do not, as of yet, have audited year-end financial statements. As a result, BHK's and BHD's Audit Committees have not performed any of the above functions. The Audit Committee is governed by a written charter, which is attached hereto as Appendix A and will be attached every third year going forward. The members of the Audit Committee of each Trust are Messrs. Brimmer, (Chairman of the Audit Committee), Cavanagh, Dixon, Fabozzi, La Force and Mondale. GOVERNANCE COMMITTEE Each of the Trusts has a Governance Committee composed of the Independent Directors. 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. With respect to BNA, there were five meetings of the Governance Committee and with respect to BCT, BHY, BKN, BKT, RAA, RFA, RNJ and RNY, there were four meetings of the Governance Committee held between November 1, 2000 and October 31, 2001. With respect to BAT, BFC, BGT, BLN, BMN, BMT, BPS, BSD, BRF, BRM and BQT, there were four meetings of the Governance Committee held between January 1, 2001 and December 31, 2001. DIRECTORS' ATTENDANCE With respect to each Trust, all Directors attended during such Trust's last full fiscal year at least 75% of the aggregate of: (i) all regular meetings of the Board of the Trust, and (ii) all meetings of all committees of the Board of the Trust on which they served. Meeting information and Directors' attendance for BBF, BFK, BFZ, BNJ, BNY, BJZ, BPK, BLH, BHK and BHD has not been provided because such Trusts have not been in operation for a full fiscal year. OFFICERS OF THE TRUST In addition to Messrs. Fink and Schlosstein, all the following executive officers except Messrs. Schaney, 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 and BLH only. With respect to Mr. Schaney, he is an officer of BHY, BHK and BHD only. 16

OTHER PRINCIPAL OCCUPATIONS NAME AND AGE TITLE IN PAST 5 YEARS ------------------------------------ ----------------------------- ------------------------------------------ Anne F. Ackerley Secretary Managing Director of BlackRock, Inc. since Age: 40 2000. 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: 54 its predecessor entities. Robert S. Kapito Vice President Vice Chairman and Managing Director of Age: 45 BlackRock, Inc. and its predecessor entities. Kevin Klingert Vice President Managing Director of BlackRock, Inc. and Age: 39 its predecessor entities. James Kong Assistant Treasurer Managing Director of BlackRock, Inc. and Age: 41 its predecessor entities. Dennis Schaney Vice President Managing Director of BlackRock, Inc. and Age: 45 its predecessor entities and head of the High Yield Group since February 1998. Formerly, Managing Director Merrill Lynch & Co. in the Global Fixed Income Research and Economics Department. Richard Shea, Esq. Vice President/ Tax Managing Director of BlackRock, Inc. since Age: 42 2000; Chief Operating Officer and Chief Financial Officer of Anthracite Capital, Inc. since 1998. Formerly, Director of BlackRock, Inc. and its predecessor entities.

REMUNERATION The following table sets forth certain information regarding the compensation of the Trusts' directors. TOTAL COMPENSATION FROM THE FUND COMPLEX NAME OF PERSON PAID TO DIRECTORS (1) ------------------------------------ ----------------------------------- Andrew F. Brimmer $195,000(3) Richard E. Cavanagh $160,000(2) Kent Dixon $160,000(2) Frank J. Fabozzi $160,000(2) James Clayburn La Force, Jr. $160,000(2) Walter F. Mondale $160,000(2) ---------------- (1) Represents the total compensation earned by such persons during the calendar year ended December 31, 2001 from the thirty closed-end funds advised by the Advisor (the "Fund Complex"). One of these funds, BTM, liquidated on June 29, 2001. 17 (2) Represents the aggregate compensation earned by such persons during the calendar year ended December 31, 2001. Of this amount, Messrs. Brimmer, Cavanagh, Dixon, Fabozzi, La Force and Mondale deferred $24,000, $24,000, $0, $0, $139,000 and $68,000, respectively, pursuant to the Fund Complex's deferred compensation plan (described below). (3) Dr. Brimmer serves as "lead director" for each Board in the Fund Complex. For his services as lead 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. Each Independent Director receives 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 is capped at $160,000 per annum. In the event that the $160,000 cap is met with respect to an Independent Director, the amount of the Independent Director's fee borne by each Trust in the Fund Complex is reduced by reference to the net assets of the Trust relative to the other Trusts in the Fund Complex (subject to a $2,000 minimum per Director). In addition, the attendance fees of each Independent Director of the Trusts are 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 held on a single day does not exceed $20,000 for any Director. For BAT, BGT, BRM, BLN, BFC, BRF, BMN, BQT, BPS, BSD, BMT, BBF, BFK, BFZ, BNJ, BNY, BJZ, BPK and BLH fees of $30,500, $75,500, $74,900, $52,800, $50,800, $39,600, $75,000, $74,200, $12,200, $30,700, $73,800, $4,600, $19,000, $9,800, $4,800, $7,500, $4,100, $9,600, and $2,200, respectively, were accrued by each Trust from January 1, 2001 to December 31, 2001. For BHY, BCT, RAA, RFA, RNJ, RNY, BKN, BNA, BKT, BHK and BHD fees of $19,600, $13,500, $12,100, $12,100, $12,100, $12,100, $67,700, $74,500, $74,900, $0 and $0, respectively, were accrued from November 1, 2000 to October 31, 2001. 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. Fink, Schlosstein, Kapito, Gabbay, Klingert, Kong, Schaney, Shea and Ms. Ackerley, officers of the Trusts, are also affiliated with the Advisor. 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 is devoted to certain of that particular Trust's operations. Under the deferred compensation plan (the "Plan"), Independent Directors may elect to defer receipt of all or a portion of their annual compensation received from a Trust. Deferred amounts earn a return for the Directors as though equivalent dollar amounts had been invested in common shares of certain other 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 other Trusts. The Plan is not funded and obligations thereunder represent general unsecured claims against the general assets of a Trust. A 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 BOARD OF EACH TRUST, INCLUDING THE INDEPENDENT DIRECTORS, UNANIMOUSLY RECOMMENDS THAT YOU VOTE "FOR" THE NOMINEES. 18 ADDITIONAL INFORMATION INVESTMENT ADVISOR The Advisor 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 $239 billion of assets under management as of December 31, 2001. 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 Provident Institutional Funds. In addition, BlackRock provides risk management and investment system services to a growing number of institutional investors under the BlackRock Solutions name. Clients are served from BlackRock's headquarters in New York City, as well as offices in Wilmington, DE, San Francisco, CA, Boston, MA, Edinburgh, Scotland, Tokyo, Japan 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 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. Fink is a Director of the Trusts, Mr. Schlosstein is an officer and Director of the Trusts and Mr. Kapito is an officer 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 and BHD. INDEPENDENT AUDITORS Deloitte & Touche LLP ("D&T") has been selected as the independent auditors 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 of the Trusts for and during each Trust's fiscal year ending in 2002. None of the Trusts knows of any direct or indirect financial interest of D&T in the Trusts. AUDIT FEES Each Trust has paid to D&T fees for professional services rendered for the audit of each Trust's annual financial statements for the most recent fiscal year (or period) in the following amounts: BKN, $26,000; BRM, $26,000; BFC, $18,700; BRF, $18,700; BLN, $18,700; BCT, $14,300; BKT, $46,800; BHY, $18,700; BQT, $42,400; BAT, $21,600; BMN, $33,300; RAA, $7,300; RFA, $7,300; RNJ, $7,300; RNY, $7,300; BMT, $27,000; 19 BGT, 49,600; BPS, 10,400; BSD, $21,000; BNA, $69,600; BBF, $24,000; BFK, $24,000; BFZ, $24,000; BNJ, $24,000; BNY, $24,000; BJZ, $24,000; BPK, $24,000 and BLH, $24,000(1). FINANCIAL INFORMATION SYSTEMS DESIGN AND IMPLEMENTATION FEES 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 information systems design and implementation. ALL OTHER FEES Each Trust paid fees to D&T in the Trust's most recent fiscal year for services other than those described above in the following amounts: BKN, $15,790; BRM, $17,324; BFC, $15,287; BRF, $15,018; BLN, $15,339; BCT, $30,713; BKT, $52,625; BHY, $423; BQT, $23,350; BAT, $22,000; BMN, $11,600; RAA, $0; RFA, $0; RNJ, $0; RNY, $0; BMT, $17,976; BGT, $41,051; BPS, $8,126; BSD, $8,775; BNA, $26,025; BBF, $0; BFK, $0; BFZ, $0; BNJ, $0; BNY, $0; BJZ, $0; BPK, $0; and BLH, $0.(1) 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. The Audit Committee of the Boards of each Trust have concluded that the provision of services other than audit services, by D&T to the Trusts, the Advisor and affiliates of the Advisor that provide services to the Trusts is compatible with maintaining D&T's independence in performing audit services. Representatives of D&T will attend the Meeting, will have the opportunity to make a statement if they desire to do so and will be available to answer questions. FINANCIAL STATEMENTS AND OTHER INFORMATION Each Trust will furnish, without charge, a copy of such Trust's most recent Annual Report, if any, and the most recent Semi-Annual Report succeeding the Annual Report, if any, to any stockholder upon request. Requests should be directed to BlackRock Advisors, Inc., 100 Bellevue Parkway, Wilmington, DE 19809 (telephone number (800) 227-7BFM(7236)). Quarterly 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.HTML. This reference to BlackRock's website is intended to allow investors to access information regarding the Trusts and is not intended to incorporate BlackRock's website into this proxy statement. PRIVACY PRINCIPLES OF THE TRUSTS The Trusts are committed to maintaining the privacy of stockholders and to safeguarding their non-public personal information. The following information is provided to help you understand what personal information the ---------- (1) As newly organized Trusts, BHK and BHD have not completed their initial fiscal years. 20 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 nonpublic personal information relating to their stockholders, although certain nonpublic personal information of their stockholders may become available to the Trusts. The Trusts do not disclose any nonpublic personal information about their stockholders or former stockholders to anyone, except as permitted by law or as is necessary in order to service stockholder accounts (for example, to a transfer agent or third party administrator). The Trusts restrict access to nonpublic personal information about the stockholders 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 nonpublic personal information of their stockholders. DEADLINE FOR STOCKHOLDER PROPOSALS Stockholder proposals intended for inclusion in the Trusts' proxy statement in connection with the Trusts' 2002 annual meeting of stockholders pursuant to Rule 14a-8 under the Securities Exchange Act of 1934, as amended (the "Exchange Act") must be received by the Trusts at the Trusts' principal executive offices by December 2, 2002. 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 the Trusts at the Trusts' principal executive offices not later than February 15, 2003. OTHER MATTERS The management knows of no other matters which are to be brought before the Meeting. However, if any other matters not now known properly come before the 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, LAURENCE D. FINK Chairman RALPH L. SCHLOSSTEIN President April 1, 2002 21 APPENDIX A JOINT AUDIT COMMITTEE CHARTER OF THE BLACKROCK CLOSED-END FUNDS STATEMENT OF PURPOSE The Joint Audit Committee of the BlackRock Closed-End Funds (the "Trusts", each a "Trust") is charged with providing informed, vigilant and effective oversight of the Trust's financial reporting process and the internal controls which protect the integrity of the reporting process. RESPONSIBILITIES o Recommending the selection, retention or termination of the Trust's auditors, including review of factors relating to the independence of the Trust's public auditors. o Reviewing with the Trust's auditors the overall scope of the audit. o Reviewing the Trust's audited financial statements and audit results, including communications from the auditors relating to the Trust's accounting practices, procedures and internal accounting controls. o Presenting the Trust's interim financial statements at an Audit Committee meeting so that the Audit Committee has the opportunity to (i) review the materials before distribution to shareholders; and (ii) discuss any other matters related thereto as the Audit Committee deems necessary and appropriate. o Reviewing the adequacy of internal control systems, including internal audit activities and the security of electronic data processing, if any. o Reviewing such other matters regarding the Trust's financial and accounting practices as it or the Board of Trustees may deem advisable. COMPOSITION The Audit Committee shall be composed of at least three members of the Board of Trustees, all of whom are "independent" as defined by the New York Stock Exchange listing standards and the American Stock Exchange listing standards, respectively. According to the NYSE listing standards, a member is independent if he/she has no relationship with the Trust that may interfere with the exercise of his/her independence from BlackRock AND the Trust and is not (i) an employee of the Trust or BlackRock; (ii) a partner, controlling shareholder or executive officer of an organization that has a business relationship with the Trust or has a direct business relationship with the Trust; (iii) employed as an executive of another company for which an executive of the Trust serves on that company's compensation committee; and does not (iv) have an immediate family member who is an executive officer of any Trust or BlackRock. According to the AMEX listing standards, a member is independent if he/she is not an officer or employee of the Trust or a person having a relationship which, in the opinion of the Board of Directors, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director AND (i) is not employed by the Trust or BlackRock for the current year or any of the past three years; (ii) did not receive compensation from the 22 Trust or BlackRock in excess of $60,000 during the previous year, other than as compensation for board service, benefits under a tax-qualified retirement plan or non-discretionary compensation; (iii) 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; (iv) 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% gross revenue or $200,000 in any of the past three years; and (v) is not employed as an executive of another entity for which any of the Trust's executives serve on that entity's compensation committee. Each member must be financially literate (i.e., have a basic understanding of financial statements) and at least one member must have accounting or related financial management expertise. AUTHORITY The Audit Committee shall have the authority to institute investigations of suspected improprieties, including the standing authority to retain special counsel or seek assistance from experts. INTERACTION WITH MANAGEMENT Management of the Trust shall inform the Audit Committee in advance of any proposed changes in accounting or financial reporting practices and of any other unusual events that could have a significant impact on the Trust's financial statements. Management shall advise the Audit Committee in advance when it seeks a second opinion on a significant accounting issue from an accountant that is not the Trust's independent auditor. The Trust's internal auditor shall have direct independent access to the Audit Committee. RESOURCES The Board of Trustees shall ensure that the Audit Committee had adequate resources with which to discharge its responsibility. MEETINGS The Audit Committee shall meet on a regular basis and special meetings shall be called as circumstances require. The committee shall meet privately with any internal auditor and the independent public accountant whenever it believes that it is necessary to do so. REPORTING The Audit Committee shall report its activities to the Board of Trustees on a regular basis, so that the Board is kept informed of its activities on a current basis. The Audit Committee shall also provide relevant proxy disclosure to the Trust and determine satisfaction of the requirements that the committee has: (i) reviewed and discussed the audited financial statements with management of the Trust; (ii) discussed with the independent auditors the matters required to be discussed by the Statements on Auditing Standards No. 61; (iii) 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 whether it (iv) recommended to the Board of Directors of the Trust that the financial statements be included in the Trust's Annual Report for the past fiscal year, as filed with the Securities and Exchange Commission. 23 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 1 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: ANDREW F. BRIMMER KENT DIXON LAURENCE D. FINK FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= THE BLACKROCK 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:___________________ ________________________________________________________________________________ 2 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 3 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustee: JAMES CLAYBURN LA FORCE, JR. FOR [_] [_] WITHHOLD ================================================= 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:___________________ ________________________________________________________________________________ 4 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 5 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: FRANK J. FABOZZI WALTER F. MONDALE RALPH L. SCHLOSSTEIN 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:___________________ ________________________________________________________________________________ 6 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 7 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: FRANK J. FABOZZI WALTER F. MONDALE RALPH L. SCHLOSSTEIN 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:___________________ ________________________________________________________________________________ 8 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 9 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: ANDREW F. BRIMMER KENT DIXON LAURENCE D. FINK FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 10 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 11 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. 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:___________________ ________________________________________________________________________________ 12 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 13 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: ANDREW F. BRIMMER KENT DIXON LAURENCE D. FINK FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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 side of this card. Please be sure to sign and date this Proxy. Signature:___________________________________________ Date:___________________ Co-owner Signature:__________________________________ Date:___________________ ________________________________________________________________________________ 14 PROXY THE BLACKROCK PENNSYLVANIA STRATEGIC MUNICIPAL TRUST INC. COMMON SHARES THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES The undersigned hereby appoints Anne F. Ackerley, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 15 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: WALTER F. MONDALE RALPH L. SCHLOSSTEIN FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= THE BLACKROCK PENNSYLVANIA 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:___________________ ________________________________________________________________________________ 16 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 17 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: ANDREW F. BRIMMER KENT DIXON LAURENCE D. FINK FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 18 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 19 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. 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:___________________ ________________________________________________________________________________ 20 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 21 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: JAMES CLAYBURN LA FORCE, JR. FOR [_] [_] WITHHOLD ================================================= 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:___________________ ________________________________________________________________________________ 22 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 23 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: WALTER F. MONDALE RALPH L. SCHLOSSTEIN FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 24 PROXY THE BLACKROCK INCOME TRUST INC. COMMON STOCK THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS The undersigned hereby appoints Anne F. Ackerley, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 25 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. 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:___________________ ________________________________________________________________________________ 26 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 27 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: WALTER F. MONDALE RALPH L. SCHLOSSTEIN FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 28 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 29 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: JAMES CLAYBURN LA FORCE, JR. FOR [_] [_] WITHHOLD ================================================= BLACKROCK FLORIDA 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:___________________ ________________________________________________________________________________ 30 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 31 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: ANDREW F. BRIMMER KENT DIXON LAURENCE D. FINK 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:___________________ ________________________________________________________________________________ 32 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 33 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: WALTER F. MONDALE RALPH L. SCHLOSSTEIN FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 34 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 35 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: ANDREW F. BRIMMER KENT DIXON LAURENCE D. FINK 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:___________________ ________________________________________________________________________________ 36 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 37 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: JAMES CLAYBURN LA FORCE, JR. FOR [_] [_] WITHHOLD ================================================= 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:___________________ ________________________________________________________________________________ 38 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 39 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: JAMES CLAYBURN LA FORCE, JR. FOR [_] [_] WITHHOLD ================================================= 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:___________________ ________________________________________________________________________________ 40 PROXY THE BLACKROCK INVESTMENT QUALITY TERM TRUST INC. COMMON STOCK THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS The undersigned hereby appoints Anne F. Ackerley, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 41 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. 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:___________________ ________________________________________________________________________________ 42 PROXY THE BLACKROCK NEW JERSEY INVESTMENT QUALITY MUNICIPAL INC. COMMON STOCK THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS The undersigned hereby appoints Anne F. Ackerley, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 43 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: WALTER F. MONDALE RALPH L. SCHLOSSTEIN FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 44 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 45 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: JAMES CLAYBURN LA FORCE, JR. FOR [_] [_] WITHHOLD ================================================= THE 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:___________________ ________________________________________________________________________________ 46 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 47 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Director: JAMES CLAYBURN LA FORCE, JR. FOR [_] [_] WITHHOLD ================================================= 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:___________________ ________________________________________________________________________________ 48 PROXY BLACKROCK NEW YORK MUNICIPAL 2018 TERM TRUST INC. COMMON SHARES THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES The undersigned hereby appoints Anne F. Ackerley, Robert S. Kapito and Henry Gabbay, 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 Inc. (the "Trust") held of record by the undersigned on February 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 49 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: JAMES CLAYBURN LA FORCE, JR. FOR [_] [_] WITHHOLD ================================================= THE 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:___________________ ________________________________________________________________________________ 50 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 51 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: WALTER F. MONDALE RALPH L. SCHLOSSTEIN FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 52 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 53 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: JAMES CLAYBURN LA FORCE, JR. FOR [_] [_] WITHHOLD ================================================= BLACKROCK NEW YORK 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:___________________ ________________________________________________________________________________ 54 PROXY THE BLACKROCK NORTH AMERICAN GOVERNMENT INCOME TRUST INC. COMMON STOCK THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS The undersigned hereby appoints Anne F. Ackerley, Robert S. Kapito and Henry Gabbay, 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 North American Government Income Trust Inc. (the "Trust") held of record by the undersigned on February 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 55 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= THE BLACKROCK NORTH AMERICAN GOVERNMENT 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:___________________ ________________________________________________________________________________ 56 PROXY BLACKROCK NEW JERSEY MUNICIPAL INCOME TRUST INC. COMMON SHARES THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES The undersigned hereby appoints Anne F. Ackerley, Robert S. Kapito and Henry Gabbay, 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 Inc. (the "Trust") held of record by the undersigned on February 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 57 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: JAMES CLAYBURN LA FORCE, JR. FOR [_] [_] WITHHOLD ================================================= 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:___________________ ________________________________________________________________________________ 58 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 59 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: ANDREW F. BRIMMER KENT DIXON LAURENCE D. FINK FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 60 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 61 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 62 PROXY BLACKROCK MUNICIPAL 2018 TERM TRUST INC. PREFERRED SHARES THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES The undersigned hereby appoints Anne F. Ackerley, Robert S. Kapito and Henry Gabbay, 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 Inc. (the "Trust") held of record by the undersigned on February 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 63 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. 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:___________________ ________________________________________________________________________________ 64 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 65 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 66 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 67 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. 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:___________________ ________________________________________________________________________________ 68 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 69 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: FRANK J. FABOZZI WALTER F. MONDALE RALPH L. SCHLOSSTEIN FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 70 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 71 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. 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:___________________ ________________________________________________________________________________ 72 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 73 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. 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:___________________ ________________________________________________________________________________ 74 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 75 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: ANDREW F. BRIMMER KENT DIXON LAURENCE D. FINK FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 76 PROXY BLACKROCK NEW YORK MUNICIPAL 2018 TERM TRUST PREFERRED SHARES THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS The undersigned hereby appoints Anne F. Ackerley, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 77 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. 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:___________________ ________________________________________________________________________________ 78 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 79 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: ANDREW F. BRIMMER KENT DIXON LAURENCE D. FINK FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 80 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 81 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: FRANK J. FABOZZI WALTER F. MONDALE RALPH L. SCHLOSSTEIN 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:___________________ ________________________________________________________________________________ 82 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 83 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. 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:___________________ ________________________________________________________________________________ 84 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 85 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. 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:___________________ ________________________________________________________________________________ 86 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 87 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: RICHARD E. CAVANAGH JAMES CLAYBURN LA FORCE, JR. 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:___________________ ________________________________________________________________________________ 88 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 89 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: ANDREW F. BRIMMER KENT DIXON LAURENCE D. FINK 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:___________________ ________________________________________________________________________________ 90 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, Robert S. Kapito and Henry Gabbay, 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 preferrred shares of The BlackRock Florida Investment Quality Municipal Trust (the "Trust") held of record by the undersigned on February 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 91 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: FRANK J. FABOZZI WALTER F. MONDALE RALPH L. SCHLOSSTEIN 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:___________________ ________________________________________________________________________________ 92 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Shareholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 93 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Trustees: FRANK J. FABOZZI WALTER F. MONDALE RALPH L. SCHLOSSTEIN 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:___________________ ________________________________________________________________________________ 94 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 95 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: ANDREW F. BRIMMER KENT DIXON LAURENCE D. FINK FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= THE BLACKROCK 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:___________________ ________________________________________________________________________________ 96 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 97 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: FRANK J. FABOZZI WALTER F. MONDALE RALPH L. SCHLOSSTEIN FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 98 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, Robert S. Kapito and Henry Gabbay, 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 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments 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? --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- ________________________________________________________________________________ 99 [X] PLEASE MARK VOTES AS IN THIS EXAMPLE. 1. Election of Directors: FRANK J. FABOZZI WALTER F. MONDALE RALPH L. SCHLOSSTEIN FOR WITHHOLD ALL [_] [_] FROM ALL NOMINEES NOMINEES [_] ______________________________________ For all nominees except as noted above ================================================= 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:___________________ ________________________________________________________________________________ 100 -------------------------------------------------------------------------------- 1. ELECTION OF DIRECTORS FOR ALL FOR ALL NOMINEES WITHHOLD EXCEPT Frank J. Fabozzi [_] [_] [_] Walter F. Mondale Ralph L. Schlosstein Instruction: To withhold authority "For" any individual nominee, mark the "For All Except" box and strike a line through the nominee's name in the list above. [X] PLEASE MARK VOTES AS IN THIS EXAMPLE Mark box at right if comment or address change has been noted on the reverse side of this card. [_] THE BLACKROCK STRATEGIC TERM TRUST INC. -------------------------------------------------------------------------------- COMMON STOCK ----------------------------- Please be sure to sign and date this Proxy. Date -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Shareholder sign here -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Co-owner sign here -------------------------------------------------------------------------------- (over) -------------------------------------------------------------------------------- ^ PLEASE DETACH AT PERFORATION ALONG DOTTED LINE ^ THE BLACKROCK STRATEGIC TERM TRUST INC. -------------------------------------------------------------------------------- IMPORTANT PLEASE SEND IN YOUR PROXY...TODAY! YOU ARE URGED TO DATE AND SIGN THE ATTACHED PROXY AND RETURN IT PROMPTLY IN THE ENCLOSED ENVELOPE. THIS WILL HELP SAVE THE EXPENSE OF FOLLOW-UP LETTERS TO SHARE- HOLDERS WHO HAVE NOT RESPONDED. -------------------------------------------------------------------------------- 101 PROXY THE BLACKROCK STRATEGIC TERM TRUST INC. COMMON STOCK THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS. The undersigned hereby appoints Anne F. Ackerley, Robert S. Kapito and Henry Gabbay, 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 Strategic Term Trust Inc. (the "Trust") held of record by the undersigned on February 28, 2002 at the Annual Meeting of Stockholders of the Trust to be held on May 23, 2002 or at any adjournments thereof. PLEASE MARK BOXES IN BLUE OR BLACK INK. SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY USING THE ENCLOSED POSTAGE PAID ENVELOPE. (CONTINUED FROM OTHER SIDE) 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 DETACH AT PERFORATION ALONG DOTTED LINE ^ 102