Interim Management Statement

BLACKROCK NORTH AMERICAN INCOME TRUST PLC

Interim Management Statement-Period to 31 January 2013

To the members of BlackRock North American Income Trust plc.

This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure and Transparency Rules.
It should not be relied on by any other party for any other reason.

This interim management statement relates to the period from 24 October 2012 to
31 January 2013, and contains information that covers this period, and up to
the date of publication of this interim management statement.

The Company will invest predominantly in a diversified portfolio of equity
securities quoted in the U.S., with a focus on companies that pay and grow
their dividends. The Company may invest through an active options overlay
strategy utilising predominantly covered call options and may also hold other
securities from time-to-time including, inter alia, convertible securities,
fixed interest securities, preference shares, nonconvertible preferred stock
and depositary receipts.

Financial position as at 31 January 2013

Gross assets (£m)                                          £73.55m
Net asset value per share (capital only)                   103.78p
Net asset value per share (including income)               105.00p
Ordinary share price                                       109.25p
Ordinary shares in issue                                70,050,000
Options overwrite                                            16.4%
Actual gearing                                                0.0%
Premium to NAV (1)                                            4.0%

1. based on Net Asset Value per share (including income)
   
Performance

Cumulative Performance(%):

                                   One       Since
                                 Month      launch           
                                                  
Net asset value                  +6.7%       +6.9%                                                  
Share price                      +5.8%       +9.3%                                                 
Russell 1000 Value Index         +9.2%       +9.3%

All performance figures are in sterling terms including income reinvested.

Country Analysis                  Total Assets (%)

USA                                          85.3
Canada                                        6.2
United Kingdom                                2.2
Australia                                     2.0
France                                        1.5
Netherlands                                   1.5
Peru                                          0.4
Net current assets                            0.9
                                          -------
Total                                       100.0
                                          =======

Benchmark

Sector Analysis                   Total Assets (%)

Financials                                   18.1
Industrials                                  14.9
Energy                                       13.3
Consumer Staples                             12.3
Consumer Discretionary                        9.9
Health Care                                   7.5
Materials                                     6.8
Utilities                                     6.8
Telecommunication Services                    5.1
Information Technology                        4.4
Net current assets                            0.9
                                          -------
Total                                       100.0
                                          =======

Ten Largest Investments (in alphabetical order)

Company                           Country of Risk
BHP Billiton                            Australia
Chevron                                       USA
Exxon Mobil                                   USA
General Electric                              USA
Home Depot                                    USA
IBM                                           USA
JP MorganChase                                USA
Pfizer                                        USA
Philip Morris                                 USA
Wells Fargo                                   USA

Material Events & Transactions

Admission to trading

It was announced on 24 October 2012 that 65,000,000 ordinary shares of £0.01
each in the Company had been admitted to the premium listing segment of the
Official List of the UK Listing Authority and to trading on the London Stock
Exchange's main market for listed securities under the ticker "BRNA". The ISIN
for the ordinary shares is GB00B7W0XJ61.

Share issues

The Company issued further shares on the following dates:

Date           Number of      
           shares issued  
                          
28.11.12       1,500,000                               
05.12.12         750,000                                  
12.12.12         650,000                                  
18.12.12         300,000                                  
02.01.13         350,000                                  
07.01.13         500,000                                 
10.01.13         500,000                                 
17.01.13         500,000        

Investment restriction clarification

The Company announced on 22 November that as set out in the prospectus
published by the Company on 14 September 2012, the Company's investment
restrictions therein included the following restriction with regard to
investments in other listed closed-ended investment companies.

"The Company will at all times invest and manage its assets with the objective
of spreading risk and in accordance with its published investment policy as set
out in Part 1 of this document. In order to comply with the current Listing
Rules:

i. the Company will not conduct any trading activity which is significant in
the context of its group as a whole; and

ii. the Company will not invest more than 10 per cent. of its Gross Assets in
other listed closed-ended investment funds, whether managed by the Manager or
not, except that this restriction shall not apply to investments in listed
closed-ended investment funds which themselves have stated investment policies
to invest no more than 15 per cent. of their gross assets in other listed
closed-ended investment funds."

Further to shareholder feedback the Board wished to clarify that in addition to
the above restrictions, the Company will not invest more than 15 per cent. Of
its Gross Assets in other listed closed-ended investment funds, notwithstanding
whether or not such funds have stated policies to invest no more than 15 per
cent. of this gross assets in other closed-ended investment funds.

Blocklisting application

The Company announced on 17 December that an application had been made to the
UK Listing Authority and the London Stock Exchange for the blocklisting of
3,599,999 Ordinary Shares of one pence each pursuant to the General Corporate
Purposes Scheme. The shares will, when issued, rank pari passu with the
existing shares of the Company.

Cancellation of share premium account

The Company announced on 19 December that further to the Prospectus of 14
September 2012, the Company confirms that by an order of the High Court of
Justice (Chancery Division) (the "Court") dated 12 December 2012 the
cancellation of the Company's share premium account (the "Reduction") was
approved. A statement of capital approved by the Court in respect of the
Reduction was registered by the Registrar of Companies on 19 December 2012. The
purpose of the Reduction, which took effect from 19 December 2012, was to create
sufficient distributable reserves to support the Company's distribution policy.
The Reduction is a legal and accounting adjustment and does not of itself have
any direct impact on the market value of the Company's shares.

Publication of circular

It was announced on 14 January 2013 that the Company had published a circular
to convene a General Meeting to propose resolutions to seek further authorities
to allot new ordinary shares of one pence each in the capital of the Company at
a premium to net asset value and to disapply pre-emption rights in respect of
the issue of such shares.

There were no other material events or transactions during the period to 31
January 2013 nor was the Company involved in any material transactions during
the period other than the purchase and sale of securities undertaken in the
normal course of its business.

Between 31 January 2013 and the date of publication of this interim management
statement, there have been the following material events and transactions:

Share issues

The Company issued further shares on the following dates:

Date             Number of      
             shares issued  
                          
22.02.13           550,000                          
01.03.13           650,000                          
05.03.13           500,000                          
06.03.13           350,000                         
11.03.13           350,000                         
13.03.13           750,000                        
14.03.13           300,000                          
18.03.13           250,000                          
21.03.13           300,000                         
25.03.13           500,000                        
26.03.13           500,000

General Meeting

Following the General Meeting which was held on 8 February 2013, the Board
announced that all resolutions put to shareholders were passed on a vote on a
show of hands, including ordinary resolution 1 and special resolution 2: (Res.
2) THAT the directors of the Company be authorised to allot ordinary shares of
the Company on a non-pre-emptive basis.

Dividend declaration

It was announced on 14 February 2013 that the first quarterly interim dividend
in respect of the year to 31 October 2013 of 1.0p per ordinary share had been
declared by the Directors, payable on 2 April 2013 to holders of ordinary
shares on the register at the close of business on 22 February 2013 (ex
dividend date was 20 February 2013).

Publication of prospectus and blocklisting application

It was announced on 27 February 2013 that the Company had published a
prospectus in connection with a placing programme in respect of up to
16,837,500 ordinary shares of one pence each in the capital of the Company.

It was also announced that an application had been made to the UK Listing
Authority and the London Stock Exchange for the blocklisting of 10,000,000
Shares pursuant to the General Corporate Purposes Scheme. These Shares will be
issued pursuant to the Placing Programme and, when issued, will rank pari passu
with existing Shares. The blocklisting was expected to become effective on 1
March 2013 and the Company expected to make further blocklisting applications
in due course in connection with the Placing Programme.

Net Asset Value

The Company announces its NAV on a daily basis, which can be accessed via
www.blackrock.co.uk/brna, under the "News" tab.

The unaudited net asset value for BlackRock North American Income Trust plc at
close of business on 4 April 2013 was:

Capital only 111.32p

Including current year income 112.16p

The Board is not aware of any other significant events or transactions, except
as disclosed herein, occurring between 31 January 2013 and the date of
publication of this interim management statement which would have a material
impact on the financial position of the Company.

Contact details:

Barbara Powley
Company Secretary
BlackRock Investment Management (UK) Limited

Tel: [phone]

5 April 2013

ENDS

Please note that more detailed performance information is available on the
Manager's website: www.blackrock.co.uk/brna. Neither the contents of the
Manager's website nor the contents of any website accessible from hyperlinks on
the Manager's website (or any other website) is incorporated into, or forms
part of, this announcement.