BlackRock Insured Municipal Term Trust Inc. Announces Redemption of Preferred Stock.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- BlackRock Insured Municipal Term Trust Inc. (NYSE NYSE See: New York Stock Exchange :BMT BMT bone marrow transplantation. BMT, n.pr See bone marrow transplant. BMT Bone marrow transplant, see there ) (the "Trust") announced the redemption of $50,000,000 in preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . The Trust will redeem all 2,000 of its issued and outstanding shares of Auction Rate Municipal Preferred Stock, Series M7, at liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy preference of $25,000 per share plus accrued and unpaid dividends, if applicable. Redemption details are as follows: [TABLE OMITTED] The Trust is scheduled to terminate on or about December 31, 2010. The Trust has an investment objective of returning $10.00 per share to its common shareholders at that time. As part of its investment strategy, as the Trust approaches its termination date termination date, n See expiration date. , cash is reinvested in shorter maturity securities and the amount of the leverage utilized by the Trust is generally reduced. About BlackRock BlackRock, Inc. ("BlackRock") is one of the world's largest publicly traded investment management firms. At September 30, 2008, BlackRock's assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. were $1.26 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([R]) investment system, risk management and financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , as of September 30, 2008, the firm has approximately 5,800 employees in 22 countries and a major presence in key global markets, including the U.S., Europe, Asia, Australia and the Middle East. 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and , with respect to the BlackRock closed-end 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 and the closed-end funds managed by BlackRock and its affiliates assume no duty to and do not undertake to update publicly or revise any forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. The following factors, among others, could cause actual results to differ materially from forward-looking statements or historical occurrences: (1) the ability of the Trust to implement the redemption on a timely basis; (2) the effects of changes in market and economic conditions; (3) other legal and regulatory developments; and (4) other additional execution risks and uncertainties. |
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