Market Overview

Certain Municipal Closed-End Funds Announce Share Repurchase Programs

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BlackRock Advisors, LLC announced today that the Boards of
Directors/Trustees of the below BlackRock municipal closed-end funds
(the "Funds") have authorized open market share repurchase programs (the
"Repurchase Programs") pursuant to which each Fund may repurchase up to
5% of its outstanding common shares (based on common shares outstanding
on November 30, 2018) in open market transactions through November 30,
2019. The Repurchase Programs seek to enhance shareholder value by
purchasing Fund shares trading at a discount from their net asset value
("NAV") per share.

The Funds that have authorized a Repurchase Program are as follows:

                 

Ticker
(NYSE)

      Fund       CUSIP
BFZ       BlackRock California Municipal Income Trust       09248E102
BKN       BlackRock Investment Quality Municipal Trust, Inc.       09247D105
BTA       BlackRock Long-Term Municipal Advantage Trust       09250B103
BZM       BlackRock Maryland Municipal Bond Trust       09249L105
MHE       BlackRock Massachusetts Tax-Exempt Trust       09258E109
MUI       BlackRock Muni Intermediate Duration Fund, Inc.       09253X102
MNE       BlackRock Muni New York Intermediate Duration Fund, Inc.       09255F109
MUA       BlackRock MuniAssets Fund, Inc.       09254J102
BBK       BlackRock Municipal Bond Trust       09249H104
BAF       BlackRock Municipal Income Investment Quality Trust       09250G102
BBF       BlackRock Municipal Income Investment Trust       09248H105
BYM       BlackRock Municipal Income Quality Trust       092479104
BFK       BlackRock Municipal Income Trust       09248F109
BLE       BlackRock Municipal Income Trust II       09249N101
MEN       BlackRock MuniEnhanced Fund, Inc.       09253Y100
MUC       BlackRock MuniHoldings California Quality Fund, Inc.       09254L107
MHD       BlackRock MuniHoldings Fund, Inc.       09253N104
MUH       BlackRock MuniHoldings Fund II, Inc.       09253P109
MFL       BlackRock MuniHoldings Investment Quality Fund       09254P108
MUJ       BlackRock MuniHoldings New Jersey Quality Fund, Inc.       09254X101
MHN       BlackRock MuniHoldings New York Quality Fund, Inc.       09255C106
MUS       BlackRock MuniHoldings Quality Fund, Inc.       09254A101
MUE       BlackRock MuniHoldings Quality Fund II, Inc.       09254C107
MVF       BlackRock MuniVest Fund, Inc.       09253R105
MVT       BlackRock MuniVest Fund II, Inc.       09253T101
MZA       BlackRock MuniYield Arizona Fund, Inc.       09254K109
MYC       BlackRock MuniYield California Fund, Inc.       09254M105
MCA       BlackRock MuniYield California Quality Fund, Inc.       09254N103
MYD       BlackRock MuniYield Fund, Inc.       09253W104
MYF       BlackRock MuniYield Investment Fund       09254R104
MFT       BlackRock MuniYield Investment Quality Fund       09254T100
MIY       BlackRock MuniYield Michigan Quality Fund, Inc.       09254V105
MYJ       BlackRock MuniYield New Jersey Fund, Inc.       09254Y109
MYN       BlackRock MuniYield New York Quality Fund, Inc.       09255E102
MPA       BlackRock MuniYield Pennsylvania Quality Fund       09255G107
MQY       BlackRock MuniYield Quality Fund, Inc.       09254F100
MQT       BlackRock MuniYield Quality Fund II, Inc.       09254G108
MYI       BlackRock MuniYield Quality Fund III, Inc.       09254E103
BQH       BlackRock New York Municipal Bond Trust       09249P106
BSE       BlackRock New York Municipal Income Quality Trust       09249U105
BNY       BlackRock New York Municipal Income Trust       09248L106
BFY       BlackRock New York Municipal Income Trust II       09249R102
BSD       The BlackRock Strategic Municipal Trust       09248T109
BHV       BlackRock Virginia Municipal Bond Trust       092481100
           

The amount and timing of any repurchases under each Fund's Repurchase
Program will be determined either at the discretion of the Fund's
management or pursuant to predetermined parameters and instructions
subject to market conditions. There is no assurance that any Fund will
repurchase shares in any particular amounts. A Fund's repurchase
activity will be disclosed in its shareholder report for the relevant
fiscal period. Any repurchases made under any Fund Repurchase Program
will be made on a national security exchange at the prevailing market
price, subject to exchange requirements and certain volume and timing
limitations and other regulations under federal securities laws.
Repurchases will not commence for a Fund until after all the required
elements of the Repurchase Program for that Fund have been finalized and
have become effective, including that the Fund provide necessary
disclosure in its next annual or semi-annual shareholder report.

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 September 30,
2018, the firm managed approximately $6.44 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 3 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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