Interim Management Statement

BLACKROCK NORTH AMERICAN INCOME TRUST PLC

Interim Management Statement - Period to 31 January 2014

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 1 November 2013 to
31 January 2014, 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 2014

Gross assets (£m)                                     £109.7m
Net asset value per share (capital only)              108.34p
Net asset value per share (including income)          109.34p
Ordinary share price                                  110.25p
Ordinary shares in issue                          100,361,305
Options overwrite                                      17.37%
Actual gearing                                           1.2%
Premium to NAV (1)                                       0.8%

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

Cumulative Performance (%):

                                   One      Three        Six       Since
                                 Month     Months     Months      Launch        
                                                                        
Net asset value                  -3.4%      -1.6%      -5.0%      +15.4%
Share price                      -1.8%      -2.0%      -5.2%      +14.2%
Russell 1000 Value Index         -2.8%      -0.6%      -3.5%      +26.6%

All performance figures are in sterling terms including income reinvested.

Country Analysis                         Total Assets (%)

USA                                                 94.6
Canada                                               2.7
France                                               1.5
Australia                                            1.2
United Kingdom                                       1.2
Netherlands                                          0.3
Peru                                                 0.3
Net current liabilities                             -1.8
                                                   -----
Total                                              100.0
                                                   =====

Benchmark

Sector Analysis                         Total Assets (%)

Financials                                         24.0
Industrials                                        14.9
Energy                                             13.8
Consumer Discretionary                              9.9
Health care                                         9.6
Consumer Staples                                    8.9
Materials                                           6.4
Information Technology                              5.7
Utilities                                           5.2
Telecommunication Services                          3.4
Net current liabilities                            -1.8
                                                  -----
Total                                             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
Raytheon                                    USA
Wells Fargo                                 USA

Material Events& Transactions

Share issues

The Company issued further shares on the following dates:

Date         Number of      
           shares issued  
                          
28.11.13       250,000    
02.12.13       150,000    
28.01.14       250,000    
30.01.14       350,000    

Annual Report

The Company announced its annual results for the period from launch to 31
October 2013 on 12 December 2013.

Annual General Meeting

Following the Annual General Meeting which was held on 13 February 2014, the
Board announced that all resolutions put to shareholders were passed on a vote
on a show of hands.

Dividend declaration

It was announced on 13 February 2014 that the first quarterly interim dividend
in respect of the year to 31 October 2014 of 1.0p per ordinary share had been
declared by the Directors, payable on 2 April 2014 to holders of ordinary
shares on the register at the close of business on 21 February 2014
(ex-dividend date was 19 February 2014).

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 19 March 2014 was:

Capital only 110.34p
Including current year income 111.04p ex-dividend

The Board is not aware of any other significant events or transactions, except
as disclosed herein, occurring between 31 January 2014 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:

Caroline Driscoll
Company Secretary
BlackRock Investment Management (UK) Limited
Tel: [phone]

20 March 2014

ENDS

Please note that more detailed performance information is available on the
Manager's website: www.blackrock.co.uk/est. 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.