BlackRock Reports Net Asset Values for Closed-End Municipal Tax-Exempt Funds
PRNewswire
NEW YORK

BlackRock today reported the net asset values, as of the close of business on September 21, 2001, for The BlackRock California Insured Municipal 2008 Term Trust (NYSE: BFC; CUSIP: 09247G108), The BlackRock California Investment Quality Municipal Trust Inc. (Amex: RAA; CUSIP: 09247U107), The BlackRock Florida Insured Municipal 2008 Term Trust (NYSE: BRF; CUSIP: 09247H106), The BlackRock Florida Investment Quality Municipal Trust (Amex: RFA; CUSIP: 09247B109), The BlackRock Insured Municipal 2008 Term Trust (NYSE: BRM; CUSIP: 09247K109), the BlackRock Insured Municipal Term Trust Inc. (NYSE: BMT; CUSIP: 092474105), The BlackRock Investment Quality Municipal Trust, Inc. (NYSE: BKN; CUSIP: 09247D105), The BlackRock Municipal Target Term Trust Inc. (NYSE: BMN; CUSIP: 09247M105), The BlackRock New Jersey Investment Quality Municipal Trust Inc. (Amex: RNJ; CUSIP: 09247C107), The BlackRock New York Insured Municipal 2008 Term Trust (NYSE: BLN; CUSIP: 09247L107), The BlackRock New York Investment Quality Municipal Trust Inc. (Amex: RNY; CUSIP: 09247E103), The BlackRock Strategic Municipal Trust (NYSE: BSD; CUSIP: 09248T109), The BlackRock Pennsylvania Strategic Municipal Trust (Amex: BPS; CUSIP: 09248R103), the BlackRock California Municipal Income Trust (NYSE: BFZ; CUSIP: 09248E102), the BlackRock Florida Municipal Income Trust (NYSE: BBF; CUSIP: 09248H105), the BlackRock New York Municipal Income Trust (NYSE: BNY)(NYSE: CUSIP:)(NYSE: 09248L106), the BlackRock New Jersey Municipal Income Trust (NYSE: BNJ)(NYSE: CUSIP:)(NYSE: 09248J101), and the BlackRock Municipal Income Trust (NYSE: BFK)(NYSE: CUSIP:)(NYSE: 09248F109).

   Fund:                                   Net Asset Value (9/21/01)
   The BlackRock California Insured
     Municipal 2008 Term Trust  (BFC):          $17.11

   The BlackRock California Investment
     Quality Municipal Trust Inc. (RAA):        $15.19

   The BlackRock Florida Insured
     Municipal 2008 Term Trust (BRF):           $16.21

   The BlackRock Florida Investment
     Quality Municipal Trust (RFA):             $15.39

   The BlackRock Insured Municipal 2008
     Term Trust (BRM):                          $17.10

   BlackRock Insured Municipal
     Term Trust Inc. (BMT):                     $11.09

   The BlackRock Investment Quality
     Municipal Trust Inc. (BKN):                $15.04

   The BlackRock Municipal Target
     Term Trust Inc. (BMN):                     $10.88

   The BlackRock New Jersey Investment
     Quality Municipal Trust Inc. (RNJ):        $14.74

   The BlackRock New York Insured
     Municipal 2008 Term Trust (BLN):           $16.58

   The BlackRock New York Investment
     Quality Municipal Trust Inc. (RNY):        $15.21

   The BlackRock Strategic
     Municipal Trust (BSD):                     $14.62

   The BlackRock Pennsylvania Strategic
     Municipal Trust (BPS):                     $15.10

   BlackRock California Municipal
     Income Trust (BFZ):                        $14.39

   BlackRock Florida Municipal
     Income Trust (BBF):                        $14.19

   BlackRock New York Municipal
     Income Trust (BNY):                        $14.41

   BlackRock New Jersey Municipal
     Income Trust (BNJ):                        $14.13

   BlackRock Municipal Income Trust (BFK):      $14.13

BlackRock is one of the largest publicly traded investment management firms in the United States with over $220 billion of assets under management as of July 31, 2001. BlackRock manages assets on behalf of more than 3,300 institutions and 200,000 individuals worldwide through a variety of equity, fixed income, liquidity and alternative investment separate accounts and mutual funds, including BlackRock Funds and BlackRock Provident Institutional Funds. In addition, BlackRock provides risk management and investment system services to institutional investors under the BlackRock Solutions name. Clients are served from the Company's headquarters in New York City, as well as offices in Wilmington, DE, 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. For more information on BlackRock, see http://www.blackrock.com/.

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SOURCE: BlackRock

Contact: Devan Marshall, BlackRock, +1-800-227-7236

Website: http://www.blackrock.com/

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