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THE BLACKSTONE INSURED MUNICIPAL TERM TRUST MONTHLY UPDATE

 THE BLACKSTONE INSURED MUNICIPAL TERM TRUST MONTHLY UPDATE
 NEW YORK, April 14 /PRNewswire/ -- The Blackstone Insured Municipal Term Trust Inc. (NYSE: BMT) today released its April 1992 monthly update:
 Distribution Information
 Amount Payable Date Record Date Declaration Date
 $0.05208 May 29, 1992 May 15, 1992 April 14, 1992
 Portfolio Databank (As of 3/31/92)
 Long-term municipal obligations
 Interest bearing 78.5 percent
 Zero coupon 0.3 percent
 Short-term municipal obligations 21.2 percent
 100.0 percent
 Sector Breakdown by Market Value
 1) General obligation 28 percent
 2) Utility 21 percent
 3) Tax 14 percent
 4) Hospital 12 percent
 5) Housing 5 percent
 6) Education 5 percent
 7) Transportation 4 percent
 8) Other 11 percent
 Performance Update
 March 31 Feb. 28
 NAV $9.41 $9.39
 Stock price $9.75 $10.13
 On Initial On March 31
 Offering Price Stock Price
 ($10.00) ($9.75)
 Annualized distribution rate 6.25 percent 6.41 percent
 Annualized bond equivalent
 distribution rate 6.33 percent 6.50 percent
 Investment Adviser Commentary
 -- The board of directors is pleased to announce the trust's first monthly dividend of 0.05208 cents per share, or 6.25 percent on an annualized basis calculated on the initial offering price of $10 a share.
 -- The trust currently has 25.89 million shares outstanding which includes the exercise by the underwriters of their overallotment.
 -- The trust will issue auction market preferred stock in late April 1992.
 General Overview
 The Blackstone Insured Municipal Term Trust Inc. is a diversified closed-end bond fund, initially offered in February 1992, whose investment objective is to generate income that is exempt from federal income tax and return $10 per common share to investors on or about Dec. 31, 2010, by investing in a portfolio of high credit quality municipal securities of which at least 80 percent must be municipal obligations that are insured as the timely payment of both principal and interest. The trust is managed by Blackstone Financial Management L.P. (BFM), a registered investment advisor. BMT maintains a AAA rating from Standard & Poor's.
 -0- 4/14/92
 /CONTACT: Mitchell Hutchins Asset Management, Inc. (the administrator), 212-713-2848, for BMT, or Blackstone Financial Management L.P. (the investment advisor), 800-227-7BFM, or State Street Bank and Trust Company (the custodian and transfer agent), 800-426-5523, for direct dividend reinvestment questions/
 (BMT) CO: Blackstone Insured Municipal Term Trust Inc. ST: New York IN: FIN SU:


PS -- NY089 -- 8421 04/14/92 18:30 EDT
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Publication:PR Newswire
Date:Apr 14, 1992
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