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BlackRock makes investment strategy changes to closed-end funds

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The boards of trustees of BlackRock Dividend Achievers Trust, BlackRock Strategic Dividend Achievers Trust, BlackRock Enhanced Dividend Achievers Trust and BlackRock S&P Quality Rankings Global Equity Managed Trust have approved a change to the investment strategy employed by each fund.

In connection with the investment strategy changes, BlackRock has also made changes to each fund’s portfolio management team.

The funds have previously used a quantitative, index-based investment style in selecting equity investments.

From 16 February 2010, the funds will now use an investment style based on a fundamental analysis of individual securities that is not index-based.

As a result, under the new investment strategy, the funds are particularly dependent on the analytical abilities of BlackRock.

There have been no changes to the Funds’ investment objectives, guidelines and/or policies apart from the method used to implement their investment strategies.

Each fund will continue to emphasise dividend-paying and/or quality equities, as described in its prospectus, and will continue to use an option-writing strategy to enhance current gains.

In connection with the investment strategy changes, Robert Shearer and Kathleen Anderson from BlackRock’s equity dividend team have assumed primary responsibility of the equity portfolio of each fund.

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