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BlackRock Closed-End 2008 Term Trusts to Mature on Schedule

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^{Published in Business and Finance on Sunday, December 7th 2008 at 14:52 GMT by Market Wire}  

NEW YORK--([ BUSINESS WIRE ])--BlackRock Advisors, LLC and the Boards of Directors/Trustees (the "Boards") of The BlackRock Insured Municipal 2008 Term Trust Inc. (NYSE:BRM), The BlackRock Florida Insured Municipal 2008 Term Trust (NYSE:BRF), The BlackRock California Insured Municipal 2008 Term Trust Inc. (NYSE:BFC) and The BlackRock New York Insured Municipal 2008 Term Trust Inc. (NYSE:BLN) (the "Funds") today announced that the Boards adopted a plan of liquidation for the Funds and that the Funds will mature, as scheduled, on December 30, 2008.

In connection with their maturity, the Funds' common stock will continue to trade the "regular way" on the New York Stock Exchange through December 9, 2008 and will be suspended from trading before the opening on December 10, 2008.

About BlackRock

BlackRock is one of the world's largest publicly traded investment management firms. At September 30, 2008, BlackRock's assets under management were $1.259 trillion. The firm manages assets on behalf of institutions and individuals worldwide through a variety of equity, fixed income, cash management and alternative investment products. In addition, a growing number of institutional investors use BlackRock Solutions® investment system, risk management and financial advisory services. The firm is headquartered in New York City and has employees in 22 countries throughout the U.S., Europe and Asia Pacific. 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 the Funds' 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 Fund, 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 a Fund's net asset value; (2) the performance of a 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 a 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 (the "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.