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The BlackRock Income Trust Inc. Monthly Update March 1995.

NEW YORK--(BUSINESS WIRE)--March 10, 1995--

Board of Directors Announcement:

The Board of Directors of The BlackRock Income Trust Inc. (BKT) is pleased to announce the Trust's monthly dividend of $0.06250 per share. This dividend represents an annualized yield of 7.50% on the Trust's initial offering price of $10 per share.

Dividend Amount: $0.06250

Declaration Date: March 1, 1995

Ex-Dividend Date: March 9, 1995

Record Date: March 15, 1995

Payable Date: March 31, 1995

Portfolio Summary (as of February 28, 1995):

The Investment Adviser is investing the Trust's assets in accordance with its investment objectives and policies. The portfolio breakdown is as follows:

Mortgage Pass-Throughs 20%

Multiple Class Pass-Throughs 20%

FHA Project Loans 16%

Adjustable Rate Mortgages 11%

CMO Residuals 3%

Principal-Only Mortgage-Backed Securities 6%

Interest-Only Mortgage-Backed Securities 3%

Asset-Backed Securities 12%

U.S. Government Treasury Securities 8%

Municipal Bond 1%

Trading History:

On February 28, 1995, BKT's closing stock price was $7.00, a discount of 5.79% to its net asset value ($7.43).

Adviser Commentary:

An increase in the demand for U.S. bonds resulted in a rally across the Treasury yield curve throughout February. This increased bond demand was fueled primarily by Federal Reserve Chairman Alan Greenspan's Congressional testimony hinting at a slowing economy with a potential end to the Fed's restrictive monetary policy. Yields on 5- and 10-year Treasuries decreased to approximately 7.10% and 7.30%, respectively, at month end, representing reductions of more than 30 basis points from February 1. The short end of the yield curve flattened, with yield spreads between 3 month and 2-year Treasuries narrowing more than 30 bps. At the same time, yield spreads between 2-year and 30-year Treasuries widened over 30 bps. The performance of the Trust reflected the Treasury market rally, with improvements in both NAV and stock price.

Fund Summary:

The BlackRock Income Trust Inc. (NYSE Symbol: BKT) is a perpetual closed-end bond fund, initially offered in July 1988, whose investment objective is to manage a portfolio of high quality securities to achieve high monthly income consistent with the preservation of capital. The Trust seeks to distribute monthly income that is greater than that obtainable on an annualized basis by an investment in U.S. Treasuries that have approximately the same maturity as the average dollar weighted maturity of the Trust's investment. BKT is managed by BlackRock Financial Management Inc., ("BFM"), a registered investment adviser. Additional information on BKT's policies and objectives is contained in the Trust's Annual Report dated October 31, 1994. For further information, please call Prudential Mutual Fund Management, Inc. (the Administrator) at 212-214-5572 or BFM (the Investment Adviser) at 800-227-7BFM. Please direct dividend reinvestment questions to State Street Bank and Trust Company (the Transfer Agent) at 800-699-1BFM.

This Update is not to be construed as an offer to buy or sell securities. The information contained herein is not necessarily all inclusive and is not guaranteed as to accuracy. BFM is not responsible for typographical or clerical errors in this Update or in the dissemination of its content. Reliance upon information in the Update is at the sole discretion of the reader. No assurance can be given that the Trust will achieve its investment objective.

CONTACT: The BlackRock Income Trust Inc.

212/214-5572
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Publication:Business Wire
Date:Mar 10, 1995
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