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BlackRock Closed-End Fund Announces Variable Rate Preferred Shares Action

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BlackRock Advisors, LLC announced today that BlackRock New Jersey
Municipal Income Trust (NYSE:BNJ) (the "Fund") has successfully issued
Variable Rate Demand Preferred Shares ("VRDP") totaling approximately
$59.1 million pursuant to a private placement exempt from registration
under the Securities Act of 1933. The proceeds from the issuance will be
used to redeem all of the Fund's outstanding variable rate muni term
preferred shares on May 31, 2018.

It is currently expected that the reorganizations of the Fund and
BlackRock New Jersey Municipal Bond Trust (NYSE:BLJ) with and into
BlackRock MuniYield New Jersey Fund, Inc. (NYSE:MYJ), with MYJ
continuing as the surviving fund (the "Reorganizations") will be
effective with the open for business of the New York Stock Exchange on
June 11, 2018, subject to all regulatory requirements and customary
closing conditions being satisfied. The Reorganizations, if completed,
would occur based on the relative net asset values of the common shares
of BLJ, BNJ and MYJ. In addition, BLJ and BNJ VRDP shareholders will
receive on a one-for-one basis MYJ VRDP in an amount equal to the
aggregate VRDP liquidation preference (including any accumulated and
unpaid dividends) held by BLJ and BNJ VRDP shareholders immediately
prior to the Reorganizations.

This communication is not intended to, and shall not, constitute an
offer to purchase or sell shares of any of the BlackRock funds,
including MYJ, the surviving Fund in the Reorganizations.

About BlackRock

BlackRock helps investors build better financial futures. As a fiduciary
to our clients, we provide the investment and technology solutions they
need when planning for their most important goals. As of March 31, 2018,
the firm managed approximately $6.317 trillion in assets on behalf of
investors worldwide. For additional information on BlackRock, please
visit www.blackrock.com

Twitter: @blackrock | Blog: www.blackrockblog.com
| LinkedIn: www.linkedin.com/company/blackrock.

Availability of Fund Updates

BlackRock will update performance and certain other data for the
BlackRock closed-end funds (the "Funds") on a monthly basis on its
website in the "Closed-end Funds" section of www.blackrock.com
as well as certain other material information as necessary from time to
time. Investors and others are advised to check the website for updated
performance information and the release of other material information
about the Funds. This reference to BlackRock's website is intended to
allow investors public access to information regarding the Funds and
does not, and is not intended to, incorporate BlackRock's website in
this release.

Forward-Looking Statements

This press release, and other statements that BlackRock or a Fund may
make, may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act, with respect to a Fund's 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 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 BlackRock's website is not a part of this press
release.

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