BlackRock Advisors, LLC and the Boards of Directors/Trustees of the BlackRock closed-end funds today announced the arrangement of up to $1.8 billion in liquidity support for the leveraged municipal closed-end funds listed below (the ?Funds?) to issue Liquidity Enhanced Adjustable Rate Shares (?LEARS?). LEARS is a new preferred security designed to replace the auction rate preferred shares (?ARPS?) currently used as leverage in many closed-end funds.

It is anticipated that any Fund issuing LEARS will use the proceeds of the offering to redeem all of its outstanding ARPS. There is no guarantee that some or all of the Funds will issue LEARS prior to the expiration of their liquidity support arrangements. The timing of each Fund's issuance may vary and is subject to various factors, including approval by each Fund's Board of Directors/Trustees, market conditions, the willingness of tax-exempt money market funds to invest in LEARS and the ability to obtain necessary ratings for the LEARS.

Specific funds are as follows:

 

       
      Ticker     Fund Name
MCA     BlackRock MuniYield California Quality Fund, Inc.
MEN     BlackRock MuniEnhanced Fund, Inc.
MIY     BlackRock MuniYield Michigan Quality Fund, Inc.
MPA     BlackRock MuniYield Pennsylvania Quality Fund
MUI     BlackRock Muni Intermediate Duration Fund, Inc.
MYC     BlackRock MuniYield California Fund, Inc.
MYF     BlackRock MuniYield Investment Fund
MYI     BlackRock MuniYield Quality Fund III, Inc.
MYJ     BlackRock MuniYield New Jersey Fund, Inc.
MYM     BlackRock MuniYield Michigan Quality Fund II, Inc.
MYN     BlackRock MuniYield New York Quality Fund, Inc.
MZA     BlackRock MuniYield Arizona Fund, Inc.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At September 30, 2010, BlackRock's AUM was $3.446 trillion. BlackRock offers products that span the risk spectrum to meet clients' needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including 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 September 30, 2010, the firm has approximately 8,900 employees in 24 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 the firm's website at www.blackrock.com.

Forward-Looking Statements

This press release, and other statements that BlackRock may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to 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 each of the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes in political, economic or industry conditions, the interest rate environment or financial and capital markets, which could result in changes in the Fund's net asset value; (2) the performance of the Fund's investments; (3) the impact of increased competition; (4) the extent and timing of any distributions or share repurchases; (5) the impact of legislative and regulatory actions and reforms and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or BlackRock, as applicable; and (6) BlackRock's ability to attract and retain highly talented professionals.

The Annual and Semi-Annual Reports and other regulatory filings of the Funds 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 our website is not a part of this press release.

BlackRock Closed End Funds
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