Statement re Investment of C Share Proceeds

BlackRock North American Income Trust plc

Investment of C Share Proceeds

The Company has been informed by the Manager that over 85 per cent. of the net
proceeds of the recent issue of C Shares have been invested in a portfolio of
securities consistent with the Company's investment policy.

The rights attaching to the C Shares provide that the Company has 10 business
days following the date on which it is informed that over 85% of the net
proceeds have been invested in which to determine the Net Asset Values ("NAVs")
of the C Share and Ordinary Share asset pools, on which basis the Conversion
Ratio will be calculated, the date of such determination being the "Calculation
Date".

In the absence of unforeseen circumstances the Company expects the Calculation
Date to fall on the close of business today and the Record Date for the
transaction to fall on 18 October 2013. The last day for trading in the C
Shares on the London Stock Exchange for normal settlement (in order to enable
settlement prior to Conversion) will be 18 October 2013. It is expected that
the listing of the C Shares will be suspended at 7.30 a.m. on 21 October 2013
and admission of the C Shares will be cancelled on 24 October 2013.

The Company has made an application to the UK Listing Authority for all
Ordinary Shares arising on Conversion to be admitted to the Official List and
to trading on the London Stock Exchange at 8 a.m. on 23 October 2013.

The Company intends to make a further announcement in due course setting out
the conversion ratio applying to the conversion of C Shares into Ordinary
Shares and the expected date when such conversion will occur.

17 October 2013

Enquiries:

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

Sapna Shah
Cenkos Securities plc
020 7397 1922