Filed
by BlackRock California Investment Quality Municipal Trust Inc.
pursuant
to Rule 425 of the Securities Act of 1933, as amended
and
deemed filed pursuant to Rule 14a-6
under
the Securities and Exchange Act of 1934, as amended
Subject
Company: BlackRock California Municipal Income Trust
Commission
File No. 811-10331
Contact:
1-800-882-0052
BlackRock
Announces Additional Details Related to Proposed Reorganizations of Certain
BlackRock California Tax-Exempt Closed-End Funds
New York, November 30, 2009 –
BlackRock Advisors, LLC announced that, at a special meeting held today,
shareholders of BlackRock California Municipal Income Trust II (NYSE Amex:BCL),
BlackRock California Insured Municipal Income Trust (NYSE:BCK), BlackRock
California Municipal Bond Trust (NYSE:BZA) and BlackRock California Municipal
Income Trust (NYSE:BFZ) have approved the reorganizations of each of BCL, BCK
and BZA into BFZ.
It
is currently expected that the reorganizations will be concluded on or about
January 29, 2010, subject to all regulatory requirements and customary closing
conditions being satisfied. Each reorganization will occur based on
the relative net asset values of BCL, BCK, BZA and BFZ.
BlackRock
Advisors, LLC also announced that the special meeting of shareholders of
BlackRock California Investment Quality Municipal Trust Inc. (NYSE Amex:RAA) was
held today and has been adjourned upon shareholder motion until December 28,
2009.
The
special meeting was adjourned to allow additional time to further solicit votes
in connection with the proposed reorganization of RAA into BFZ, with BFZ being
the surviving fund, as outlined in the Notice of Joint Special Meeting of
Shareholders previously mailed to shareholders. Shareholders of BFZ
approved the issuance of new shares in connection with the reorganization of RAA
into BFZ at the special meeting held today. The reconvened special
meeting of shareholders of RAA will be held at 800 Scudders Mill Road,
Plainsboro, New Jersey at 4:00 p.m. on December 28, 2009.
This
communication is not intended to, and shall not, constitute an offer to purchase
or sell shares of any of the BlackRock funds, including BFZ, the surviving fund
in the reorganizations. Investors should consider the investment objectives,
risks, charges and expenses of their fund(s) carefully and consider in its
entirety the Joint Proxy Statement/Prospectus relating to the reorganizations
which contains important information regarding the investment objectives and
policies, risks, charges, expenses and other important information about
BFZ.
About
BlackRock
BlackRock
is one of the world’s largest publicly traded investment management firms.
At September 30, 2009, BlackRock’s assets under management was $1.435
trillion. The firm manages assets on behalf of institutions and
individuals worldwide through a variety of equity and balanced, fixed income,
cash management, alternative investment and advisory products. In
addition, a growing number of institutional investors use BlackRock Solutions investment
system, risk management and financial advisory services. Headquartered in
New York City, as of September 30, 2009, the firm has approximately 5,000
full-time employees in 21 countries and a major presence in key global markets,
including the United States, Europe, Asia, Australia and the Middle East. For
additional information, please visit the firm’s website at www.blackrock.com.
Forward-Looking
Statements
This
press release, and other statements that BlackRock or BCL, BCK, BZA, RAA or BFZ
(the “Funds”) may make, may contain certain forward-looking statements within
the meaning of the Private
Securities
Litigation Reform Act, with respect to the future financial or business
performance, strategies or expectations of BlackRock or the
Funds. Forward-looking statements are typically identified by words
or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,”
“comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,”
“position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,”
“seek,” “achieve,” and similar expressions, or future or conditional verbs such
as “will,” “would,” “should,” “could,” “may” or similar
expressions.
BlackRock
cautions that forward-looking statements are subject to numerous assumptions,
risks and uncertainties, which change over time. Forward-looking
statements speak only as of the date they are made, and neither BlackRock nor
any of the Funds assumes a duty to or undertakes to update forward-looking
statements. Actual results could differ materially from those
anticipated in forward-looking statements and future results could differ
materially from historical performance.
With
respect to each Fund, the following factors, among others, could cause actual
events to differ materially from forward-looking statements or historical
performance: (1) changes in political, economic or industry conditions, the
interest rate environment or financial and capital markets, which could result
in changes in the Fund’s net asset value; (2) the performance of the Fund’s
investments; (3) the impact of increased competition; (4) the extent and timing
of any Fund distributions or share repurchases; (5) the impact of legislative
and regulatory actions and reforms and regulatory, supervisory or enforcement
actions of government agencies relating to the Funds or BlackRock, as
applicable; and (6) BlackRock’s ability to attract and retain highly talented
professionals.
The
Annual and Semi-Annual Reports and other regulatory filings of the BlackRock
Closed-End Funds with the Securities and Exchange Commission (“SEC”) are
accessible on the SEC's web site at www.sec.gov and on BlackRock’s
web site at www.blackrock.com, and may
discuss these or other factors that affect the BlackRock Closed-End Funds. The
information contained on our web site is not a part of this press
release.
The
Joint Proxy Statement/Prospectus relating to the proposed reorganization
contains important information and shareholders are urged to read it. Free
copies of the Joint Proxy Statement/Prospectus are available by
calling BlackRock at (800) 882-0052 or on the SEC's web site at www.sec.gov.
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