Portfolio Update

BLACKROCK NORTH AMERICAN INCOME TRUST plc

All information is at 30 June 2013 and unaudited.

Performance at month end with net income reinvested

                              One     Three      Six     Since
                            month    months   months    launch
                                                     (24 Oct 2012)

Net asset value             -1.2%     +0.9%   +16.4%    +17.0%
Share price                 -2.1%     +1.0%   +12.9%    +17.0%
Russell 1000 Value Index    +0.2%     +4.5%   +25.6%    +25.7%

Source: BlackRock

At month end

Net asset value - capital only:                111.75p
Net asset value - cum income:                  112.48p
Share price:                                   114.50p
Premium to cum income NAV:                        1.8%
Net yield*:                                      1.75%
Total assets including current year revenue:   £90.37m
Target yield**:                                  4.00%
Gearing:                                          0.0%
Options overwrite:                              16.94%
Ordinary shares in issue:                   80,338,500

During the month, the company has issued 4,163,500 shares for proceeds of £4.7m

*based on dividends of 1p per share each declared on 14 February 2013 and
14 May 2013

** based on issue price of 100p

Benchmark

Sector Analysis                       Total Assets (%)

Financials                                       20.9
Energy                                           13.8
Industrials                                      12.9
Consumer Staples                                 12.2
Consumer Discretionary                            9.6
Health Care                                       9.0
Utilities                                         6.6
Materials                                         6.1
Information Technology                            4.7
Telecommunication Services                        3.7
Net current assets                                0.5
                                                ----- 
                                                100.0
                                                =====

Country Analysis                       Total Assets (%)

USA                                              90.2
Canada                                            3.6
Australia                                         1.5
Netherlands                                       1.4
France                                            1.3
United Kingdom                                    1.2
Peru                                              0.3
Net current assets                                0.5
                                                -----
                                                100.0
                                                =====

Ten Largest Investments (in alphabetical order)

Company                              Country of Risk

Chevron                                          USA
Comcast                                          USA
Exxon Mobil                                      USA
General Electric                                 USA
Home Depot                                       USA
JPMorgan Chase                                   USA
Merck                                            USA
Pfizer                                           USA
Verizon                                          USA
Wells Fargo                                      USA

Bob Shearer and Kathleen Anderson, representing the Investment Manager, noted:

Performance

For the one month period ended 30 June 2013, the Company posted a 1.2% decrease
in its NAV while the share price declined by 2.1% (all in sterling). The
Company's benchmark, the Russell 1000 Value Index, returned 0.2%.

Performance was hindered by our above-market exposure to the materials sector,
as well as the stocks chosen in this sector. Elsewhere our selection of shares
in the information technology sector detracted from returns, as did stock
selection in healthcare and consumer staples.

Positive contributors included our holdings in the consumer discretionary
sector, as well as having a lower than market exposure and good share
selections in the financial and energy sectors. Positive contributors also came
from stock selection in telecommunication services and industrials.

Transactions/Options

Transactions: H.J. Heinz Co. officially exited the portfolio after Berkshire
Hathaway and 3G Capital completed their acquisition of the company.

As of 30 June 2013, the Company's options exposure is 16.94% and the delta of
the options is 92.54%.

Positioning

The Company is currently overweight to the consumer staples, industrials,
materials, consumer discretionary and telecommunication services sectors. We
have a neutral weighting in utilities and remain underweight to the financials,
healthcare, information technology and energy sectors.

18 July 2013

ENDS

Latest information is available by typing www.blackrock.co.uk/brna on the
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal). 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.