BIE Blackrock Municipal Bond Investment Trust

Certain BlackRock closed-end funds (the “Funds”) announced distributions today as detailed below.

Several of the Funds announced distribution reductions. Generally, these distribution reductions were made in order to better align the applicable Fund’s distribution rates with their current and projected levels of earnings.

Municipal Funds:

Declaration- 10/1/2014   Ex-Date- 10/10/2014   Record- 10/15/2014   Payable- 11/03/2014       National Funds Ticker Distribution

Change FromPriorDistribution

BlackRock Municipal Income Quality Trust BYM $0.071500 - BlackRock Municipal Income Investment Quality Trust BAF $0.068500 - BlackRock Long-Term Municipal Advantage Trust BTA $0.058000 -0.004000 BlackRock Muni Intermediate Duration Fund, Inc. MUI $0.068500 - BlackRock MuniAssets Fund, Inc. MUA $0.062500 - BlackRock Municipal Income Investment Trust BBF $0.072375 - BlackRock Municipal Bond Trust BBK $0.082000 - BlackRock Municipal Income Trust BFK $0.075100 - BlackRock Municipal Bond Investment Trust BIE $0.076000 - BlackRock Municipal 2020 Term Trust BKK $0.054000 - BlackRock Municipal Income Trust II BLE $0.082000 - BlackRock Investment Quality Municipal Trust, Inc. BKN $0.080000 - BlackRock Municipal Target Term Trust BTT $0.080000 - The BlackRock Strategic Municipal Trust BSD $0.074000 - BlackRock MuniEnhanced Fund, Inc. MEN $0.060500 - BlackRock MuniHoldings Investment Quality Fund MFL $0.071500 - BlackRock MuniYield Investment Quality Fund MFT $0.071000 - BlackRock MuniHoldings Fund, Inc. MHD $0.088500 - BlackRock MuniYield Quality Fund II, Inc. MQT $0.070500 - BlackRock MuniYield Quality Fund, Inc. MQY $0.080000 - BlackRock MuniHoldings Quality Fund II, Inc. MUE $0.070500 - BlackRock MuniHoldings Fund II, Inc. MUH $0.083000 - BlackRock MuniHoldings Quality Fund, Inc. MUS $0.067500 - BlackRock MuniVest Fund II, Inc. MVT $0.083000 -0.005500 BlackRock MuniYield Fund, Inc. MYD $0.080500 - BlackRock MuniYield Investment Fund MYF $0.079000 - BlackRock MuniYield Quality Fund III, Inc. MYI $0.074000 - BlackRock MuniVest Fund, Inc. MVF $0.053500 -        

State-Specific Funds

Ticker Distribution

Change FromPriorDistribution

BlackRock California Municipal Income Trust BFZ $0.072200 - BlackRock MuniHoldings California Quality Fund, Inc. MUC $0.067500 -0.004000 BlackRock MuniYield California Fund, Inc. MYC $0.074000 -0.005000 BlackRock MuniYield California Quality Fund, Inc. MCA $0.073000 - BlackRock Maryland Municipal Bond Trust BZM $0.059500 - BlackRock Muni New York Intermediate Duration Fund, Inc. MNE $0.057500 - BlackRock MuniHoldings New York Quality Fund, Inc. MHN $0.069000 - BlackRock MuniYield New York Quality Fund, Inc. MYN $0.064500 - BlackRock New York Municipal Income Quality Trust BSE $0.062500 - BlackRock New York Municipal Bond Trust BQH $0.066500 - BlackRock New York Municipal Income Trust BNY $0.069000 - BlackRock New York Municipal Income Trust II BFY $0.070000 - BlackRock MuniHoldings New Jersey Quality Fund, Inc. MUJ $0.074000 - BlackRock MuniYield New Jersey Fund, Inc. MYJ $0.075000 - BlackRock MuniYield New Jersey Quality Fund, Inc. MJI $0.074000 - BlackRock New Jersey Municipal Income Trust BNJ $0.075100 - BlackRock New Jersey Municipal Bond Trust BLJ $0.074500 - BlackRock MuniYield Arizona Fund, Inc. MZA $0.069500 - BlackRock MuniYield Michigan Quality Fund II, Inc. MYM $0.066000 - BlackRock MuniYield Michigan Quality Fund, Inc. MIY $0.072000 - BlackRock MuniYield Pennsylvania Quality Fund MPA $0.074000 - The BlackRock Pennsylvania Strategic Municipal Trust BPS $0.061000 - BlackRock Virginia Municipal Bond Trust BHV $0.071500 - BlackRock Massachusetts Tax-Exempt Trust MHE $0.062500 - BlackRock Florida Municipal 2020 Term Trust BFO $0.034700 -  

Taxable Municipal Fund:

Declaration- 10/1/2014   Ex-Date- 10/10/2014   Record- 10/15/2014   Payable- 10/31/2014       Fund Ticker Distribution

Change FromPriorDistribution

BlackRock Build America Bond Trust BBN $0.131800 -  

Taxable Funds:

Declaration- 10/1/2014   Ex-Date- 10/10/2014   Record- 10/15/2014   Payable-10/31/2014       Fund Ticker Distribution

Change FromPriorDistribution

BlackRock Floating Rate Income Trust* BGT $0.065300 -0.004200 BlackRock Core Bond Trust BHK $0.075500 - BlackRock Defined Opportunity Credit Trust BHL $0.058300 -0.002200 BlackRock Multi-Sector Income Trust BIT $0.116700 - BlackRock Income Trust, Inc. BKT $0.035000 - BlackRock Limited Duration Income Trust BLW $0.099500 - BlackRock Income Opportunity Trust, Inc. BNA $0.059500 - BlackRock Credit Allocation Income Trust BTZ $0.080500 - BlackRock Debt Strategies Fund, Inc. DSU $0.024000 -0.001000 BlackRock Enhanced Government Fund, Inc.* EGF $0.055000 - BlackRock Floating Rate Income Strategies Fund, Inc. FRA $0.067400 -0.002600 BlackRock Corporate High Yield Fund, Inc. HYT $0.075500 -  

* In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, as amended, each of the Funds noted above posted to the DTC bulletin board and sent to its shareholders of record as of the applicable record date a Section 19 notice with the previous distribution payment. The Section 19 notice was provided for informational purposes only and not for tax reporting purposes. This information can be found in the “Closed-End Funds” section of www.blackrock.com. As applicable, the final determination of the source and tax characteristics of all distributions in 2014 will be made after the end of the year.

BlackRock Enhanced Government Fund, Inc. (NYSE:EGF) has adopted a level distribution plan, consistent with its investment objective and policies, to support a level distribution of income, capital gains, and/or return of capital (the “Plan”). The fixed amount distributed per share is subject to change at the discretion of EGF’s Board of Directors. Under the Plan, EGF will distribute all available investment income to its shareholders, consistent with its investment objective and as required by the Internal Revenue Code of 1986, as amended. If sufficient investment income is not available on a monthly basis, EGF will distribute long-term capital gains and/or return capital to its shareholders in order to maintain a level distribution.

EGF’s estimated sources of the distributions paid as of September 30, 2014 and for its current fiscal year are as follows:

    Estimated Allocations as of September 30, 2014 Plan Fund   Distribution  

Net InvestmentIncome

 

Net RealizedShort-TermGains

 

Net RealizedLong-TermGains

  Return of Capital EGF1   $0.055000   $0.037148 (68%)   $0 (0%)   $0 (0%)   $0.017852 (32%)         Estimated Allocations for the Fiscal Year through September 30, 2014 Fund   Distribution  

Net InvestmentIncome

 

Net RealizedShort-TermGains

 

Net RealizedLong-TermGains

 

Return of Capital

EGF1   $0.440000   $0.334250 (76%)   $0 (0%)   $0 (0%)   $0.105750 (24%)        

1 EGF estimates that it has distributed more than its income and net realized capital gains in the current fiscal year; therefore, a portion of the distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect EGF’s investment performance and should not be confused with ‘yield’ or ‘income’. When distributions exceed total return performance, the difference will reduce EGF’s net asset value per share.

The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon EGF’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. EGF will send its shareholders a Form 1099-DIV for the calendar year that will tell its shareholders how to report these distributions for federal income tax purposes.

  EGF Performance and Distribution Rate Information: Fund  

Average annual totalreturn (in relation toNAV) for the 5-yearperiod ending on08/31/2014

 

Annualized currentdistribution rateexpressed as apercentage of NAV asof 08/31/2014

 

Cumulative total return(in relation to NAV) forthe fiscal year through08/31/2014

 

Cumulative fiscalyear distributionsas a percentageof NAV as of08/31/2014

EGF   3.67%   4.37%   2.48%   2.55%        

Shareholders should not draw any conclusions about EGF’s investment performance from the amount of EGF’s current distributions or from the terms of the Plan.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2014, BlackRock’s assets under management were $4.594 trillion. BlackRock helps clients meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of June 30, 2014, the firm had approximately 11,600 employees in more than 30 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa.

For additional information, please visit BlackRock’s website at www.blackrock.com |Twitter: @blackrock_news | Blog: www.blackrockblog.com |LinkedIn: www.linkedin.com/company/blackrock

Forward-Looking Statements

This press release, and other statements that BlackRock or the Funds may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Funds or BlackRock’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions.

BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Funds or in a Fund’s net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.

Annual and Semi-Annual Reports and other regulatory filings of a Fund with the Securities and Exchange Commission (“SEC”) are accessible on the SEC's website at www.sec.gov and on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Funds. The information contained on BlackRock’s website is not a part of this press release.

BlackRock Closed-End Funds1-800-882-0052