Conversion of Securities

BlackRock North American Income Trust plc

Conversion of C Shares and Conversion Ratio

Further to the announcement on 17 October 2013 that over 85 per cent. of the
assets attributable to C Shareholders have been invested in a portfolio of
securities consistent with the Company's investment policy, the Board of
Directors announces that, in accordance with the terms and conditions of the
Issue, the Conversion Date, on which the C Shares will convert into Ordinary
Shares, has been determined by the Board to be 18 October 2013.

The Conversion Ratio, which has been calculated by reference to the total net
assets of the Company attributable to holders of Ordinary Shares and the net
assets of the Company attributable to C Shareholders as at close of business on
17 October 2013, is 0.9047 and, accordingly, 14,022,805 new Ordinary Shares
arising on Conversion will be issued and admitted to trading.  

Accordingly, a C Shareholder holding 10,000 C Shares will receive 9,047 new
Ordinary Shares on Conversion.  

The new Ordinary Shares arising on Conversion will rank pari passu with, and
will have the same rights as, the Ordinary Shares of the Company already in
issue.

The C Shares have been suspended from trading on the London Stock Exchange with
effect from 7.30 a.m. on 21 October 2013 and admission of the C Shares will be
cancelled on 23 October 2013.

Share certificates, in respect of the new Ordinary Shares, will be despatched
on 22 October 2013. No share certificates in respect of the C Shares will be
despatched.

Following Conversion, the Company's issued share capital will consist of
98,511,305 Ordinary Shares of £0.01 each, carrying one voting right each.
Therefore, the total number of voting rights for Ordinary Shareholders will be
98,511,305.

The above figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change of interest in, the Company under the FCA's Disclosure
and Transparency Rules.

21 October 2013

Enquiries:

Caroline Driscoll
BlackRock Investment Management (UK) Limited
020 7743 2427

Sapna Shah
Cenkos Securities plc
020 7397 1922