BlackRock Announces Closing of Closed-End Fund Reorganizations

BlackRock Advisors, LLC today announced that the reorganization of each of BlackRock Diversified Income Strategies Fund, Inc. DVF and BlackRock Floating Rate Income Strategies Fund II, Inc. FRB with and into BlackRock Floating Rate Income Strategies Fund, Inc. FRA (collectively, the “Reorganizations”) is effective as of the opening for business of the New York Stock Exchange on October 8, 2012. In the Reorganizations, each of FRB and DVF was reorganized with and into FRA. Common shareholders of FRB and DVF, respectively, received an amount of FRA common shares equal to the aggregate net asset value of their holdings of FRB and/or DVF common shares, as applicable, as determined at the close of business on October 5, 2012. Fractional FRA shares were not issued in the Reorganizations and consequently cash will be distributed for any such fractional amounts.