Portfolio Update

BLACKROCK NORTH AMERICAN INCOME TRUST plc

All information is at 31 March 2013 and unaudited.

Performance at month end with net income reinvested

                                  One month            Since launch
                                                        (24Oct2012)

Net asset value                       +2.7%                 +15.5%
Share price                           +3.2%                 +15.4%
Russell 1000 Value Index              +3.9%                 +20.4%

Source: BlackRock

At month end

Net asset value - capital only:              111.68p
Net asset value - cum income:                112.45p
Share price:                                 114.38p
Premium to cum income NAV:                      1.7%
Net yield*:                                     0.9%
Total assets including current year revenue: £83.83m
Gearing:                                        0.0%
Ordinary shares in issue:                 74,550,000

During the month, the company issued 3,950,000 shares for proceeds of £4.49m

*based on dividend of 1p per share declared on 14 February 2013

Benchmark

Sector Analysis                      Total Assets (%)

Financials                                      19.6
Industrials                                     14.4
Energy                                          13.8
Consumer Staples                                12.8
Consumer Discretionary                           9.7
Health Care                                      7.8
Materials                                        7.1
Utilities                                        6.6
Information Technology                           4.4
Telecommunication Services                       3.4
Net current assets                               0.4
                                               ----- 
                                               100.0
                                               =====

Country Analysis                    Total Assets (%)

USA                                            86.9
Canada                                          6.0
Australia                                       1.7
United Kingdom                                  1.8
Netherlands                                     1.5
France                                          1.3
Peru                                            0.4
Net current assets                              0.4
                                              -----
                                              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
IBM                                           USA
JPMorgan Chase                                USA
Pfizer                                        USA
Philip Morris                                 USA
Wells Fargo                                   USA

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

Performance

For the one month period ended 31 March 2013 the Company posted a 2.7% increase
in its NAV while the shares appreciated by 3.2% (all in sterling) while the
Company's benchmark, the Russell 1000 Value Index returned 3.9%.

The Company generated positive returns in 9 out of 10 GICS sectors during the
month. On a relative basis, the Company benefited from an overweight to the
consumer staples sector and an underweight to the energy sector. Stock
selection in telecommunication services also added to relative returns for the
period.

Relative underperformance for the period came primarily from stock selection,
with financials and materials being the largest detractors from monthly
returns. A combination of stock selection and an overweight to industrials also
detracted from performance, as did stock selection in consumer staples, energy
and utilities.

Transactions/Gearing

We initiated a position in Citigroup Inc. given the company's improved capital
base, its attractive valuation relative to peers, and our favourable view on
the firm's ability to grow its dividend in the future.

There were no significant changes to gearing in the Company during the period.

Positioning

During the month, we increased our financials exposure by initiating a position
in Citigroup Inc. Conversely, we reduced our exposure to industrials by
trimming our position in Caterpillar Inc. Benchmark relative sector weightings
remain largely unchanged from the prior month. The Company is currently
overweight to consumer staples, industrials, materials and consumer
discretionary. We have a neutral weighting in utilities and telecommunication
services. We remain significantly underweight to financials as well as
underweight to the healthcare, information technology and energy sectors.

18 April 2013

Latest information is available by typing www.brnaco.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.