Portfolio Update

BLACKROCK NORTH AMERICAN INCOME TRUST plc

All information is at 31 May 2013 and unaudited.

Performance at month end with net income reinvested

                                    One month     Since launch
                                                  (24 Oct 2012)

Net asset value                         +3.0%           +18.0%
Share price                             +3.2%           +19.1%
Russell 1000 Value Index                +5.3%           +25.5%

Source: BlackRock

At month end

Net asset value - capital only:                   113.43p
Net asset value - cum income:                     113.85p
Share price:                                      117.00p
Premium to cum income NAV:                           2.8%
Net yield*:                                          1.7%
Total assets including current year revenue:      £87.23m
Target yield**:                                      4.0%
Gearing:                                             0.6%
Options overwrite:                                  17.7%
Ordinary shares in issue:                      76,175,000

The Company did not issue any shares during the month.

*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                                          21.4
Energy                                              14.2
Industrials                                         13.1
Consumer Staples                                    13.0
Consumer Discretionary                               9.6
Health Care                                          9.1
Materials                                            6.6
Utilities                                            6.5
Information Technology                               4.8
Telecommunication Services                           3.6
Net current liabilities                             -1.9
                                                   ----- 
                                                   100.0
                                                   =====

Country Analysis                         Total Assets (%)

USA                                                92.0
Canada                                              3.7
Australia                                           1.7
Netherlands                                         1.5
France                                              1.4
United Kingdom                                      1.3
Peru                                                0.3
Net current liabilities                            -1.9
                                                  -----
                                                  100.0
                                                  =====

Ten Largest Investments(in alphabetical order)

Company                                 Country of Risk

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

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

Performance

For the one month period ended 31 May 2013, the Company posted a 3.0% increase
in its NAV while the share price increased by 3.2% (all in sterling with dividends 
reinvested). The Company's benchmark, the Russell 1000 Value Index, returned 5.3%.

On a relative basis, the largest contributor to the Company's performance
during the period was an overweight to the industrials sector. Stock selection
in the utilities sector also boosted relative returns, as did an underweight to
health care and an overweight to consumer discretionary.

A combination of stock selection and an overweight to consumer staples was the
largest detractor from relative performance during the period. Negative stock
selection in the energy, consumer discretionary and information technology
sectors also hurt relative returns, as did stock selection in the industrials
and materials sectors. Lastly, an underweight to financials also detracted from
relative performance for the month.

Positioning

As of 31 May 2013, the Company's options exposure was 17.7% and the delta of
the options was 93.2%.

During the month, we reduced our relative underweight to the financials sector
by putting excess cash to work in Citigroup, SunTrust Banks and JPMorgan Chase.
We also reduced our underweight to health care by adding to our position in
Johnson & Johnson. 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, health care, information technology and energy sectors.

ENDS

18 June 2013

Latest information is available by typing www.brna.co.uk 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.