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BLACKROCK FINANCIAL MANAGEMENT LP LISTS FOUR NEW FUNDS ON THE AMERICAN STOCK EXCHANGE

 NEW YORK, May 28 /PRNewswire/ -- The American Stoc ?Exchange today announced that it has commenced trading the common shares of The BlackRock New York Investment Quality Municipal Trust Inc. ("RNY"), The BlackRock New Jersey Investment Quality Municipal Trust Inc. ("RNJ"), The BlackRock California Investment Quality Municipal Trust Inc. ("RAA") and The BlackRock Florida Investment Quality Municipal Trust ("RFA"). The Funds opened trading at 11:30 at $15 each. BPN & Co. has been selected as the Funds' specialist firm.
 The Funds are newly organized, non-diversified, management investment companies registered under the Investment Company Act of 1940. The Funds have an investment objective to provide high current income exempt from regular federal income tax and applicable New York, New Jersey, California or Florida State and City taxation consistent with preservation of capital. The Funds will invest in a portfolio of investment grade New York, New Jersey, California or Florida tax exempt securities.
 The initial public offerings of the Funds are as follows: RNY consists of 1.3 million shares of common stock with over-allotment option of 195,000 shares, RNJ consists of 1 million shares of common stock with an over-allotment option of 150,000 shares, RAA consists of 1 million shares of common stock with over-allotment option of 150,000 shares and RFA consists of 1 million shares of common stock with an over-allotment option of 150,000 shares. Prudential Securities Inc. is the lead underwriter of these offerings. The Funds' investment manager is BlackRock Financial Management LP.
 The American Stock Exchange occupies a unique niche among U.S. financial markets. It is the only exchange to successfully provide both a primary equities market for growth companies, as well as a principal market to trade derivatives. No other exchange has balanced traditional and cutting edge trading products. And because of the efficiencies associated with the AMEX auction marketplace, investors of all sizes achieve the greatest value and protection.
 -0- 5/28/93
 /CONTACT: Melissa Grand, manager, equities communications of The American Stock Exchange, 212-306-1635/
 (RNY RNJ RAA RFA)


CO: BlackRock Financial Management LP ST: IN: FIN SU:

TS -- NY041 -- 3440 05/28/93 14:21 EDT
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Publication:PR Newswire
Date:May 28, 1993
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