BlackRock, Inc. today announced the commencement of a secondary offering of
42 million shares of its common stock, 34.5 million shares are being
offered by Bank of America Corporation and up to 7.5 million shares are
being offered by The PNC Financial Services Group, Inc. The secondary
offering will be made pursuant to a Registration Statement on Form S-3,
filed with the Securities and Exchange Commission that became effective on
September 13, 2010.

Bank of America also expects to grant the underwriters a 30-day option to
purchase an additional 6.3 million shares of BlackRock’s common stock to
cover over-allotments, if any. BlackRock will not receive any of the
proceeds from the sale of shares of its common stock. The sale of shares of
common stock to be sold includes shares of common stock issuable upon
conversion of BlackRock’s Series B Preferred Stock.
BofA Merrill Lynch and Morgan Stanley & Co. Incorporated are serving as
joint book-running managers for the offering.

A preliminary prospectus supplement and the accompanying base prospectus
relating to the offering have been filed with the Securities and Exchange
Commission and are available at its website, http://www.sec.gov. Copies of
the preliminary prospectus supplement and accompanying base prospectus
relating to the offering may also be obtained when available from:

BofA Merrill Lynch
4 World Financial Center
New York, NY 10080
Attn: Prospectus Department or e-mail dg.prospectus_requests@baml.com.

Morgan Stanley
180 Varick Street, 2nd Floor,
New York, NY 10014
Attention: Prospectus Dept.,
prospectus@morganstanley.com,
Telephone: (866) 718-1649

This announcement shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any offer of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of any
such jurisdiction.

-Ends-

Notes to Editor:

About BlackRock
BlackRock is a leader in investment management, risk management and
advisory services for institutional and retail clients worldwide. At
September 30, 2010, BlackRock’s AUM was $3.446 trillion. BlackRock offers
products that span the risk spectrum to meet clients’ needs, including
active, enhanced and index strategies across markets and asset classes.
Products are offered in a variety of structures including separate
accounts, mutual funds, iShares (exchange traded funds), and other pooled
investment vehicles.

BlackRock also offers risk management, advisory and enterprise investment
system services to a broad base of institutional investors through
BlackRock Solutions. Headquartered in New York City, as of September 30,
2010, the firm has approximately 8,900 employees in 26 countries and a
major presence in key global markets, including North and South America,
Europe, Asia, Australia and the Middle East and Africa. For additional
information, please visit the Company’s website at www.blackrock.com.

Forward-Looking Statements
This report, and other statements that BlackRock may make, may contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act, with respect to BlackRock’s future financial or
business performance, strategies or expectations. 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 BlackRock
assumes no duty to and does not undertake 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.

In addition to risk factors previously disclosed in BlackRock’s Securities
and Exchange Commission (“SEC”) reports and those identified elsewhere in
this report the following factors, among others, could cause actual results
to differ materially from forward-looking statements or historical
performance:

(1) the introduction, withdrawal, success and timing of business
initiatives and strategies;

(2) changes and volatility in political, economic or industry conditions,
the interest rate environment, foreign exchange rates or financial and
capital markets, which could result in changes in demand for products or
services or in the value of assets under management;

(3) the relative and absolute investment performance of BlackRock’s
investment products;

(4) the impact of increased competition;

(5) the impact of capital improvement projects;

(6) the impact of future acquisitions or divestitures;

(7) the unfavorable resolution of legal proceedings;

(8) the extent and timing of any share repurchases;

(9) the impact, extent and timing of technological changes and the adequacy
of intellectual property protection;

(10) the impact of legislative and regulatory actions and reforms,
including the recently approved Dodd-Frank Wall Street Reform and Consumer
Protection Act, and regulatory, supervisory or enforcement actions of
government agencies relating to BlackRock, Barclays Bank PLC, Bank of
America Corporation, Merrill Lynch & Co., Inc. or The PNC Financial
Services Group, Inc.;

(11) terrorist activities and international hostilities, which may
adversely affect the general economy, domestic and local financial and
capital markets, specific industries or BlackRock;

(12) the ability to attract and retain highly talented professionals;

(13) fluctuations in the carrying value of BlackRock’s economic
investments;

(14) the impact of changes to tax legislation and, generally, the tax
position of the Company;

(15) BlackRock’s success in maintaining the distribution of its products;

(16) the impact of BlackRock electing to provide support to its products
from time to time;

(17) the impact of problems at other financial institutions or the failure
or negative performance of products at other financial institutions; and

(18) the ability of BlackRock to integrate the operations of Barclays
Global Investors.

BlackRock’s Annual Reports on Form 10-K and BlackRock’s subsequent filings
with the SEC, accessible on the SEC’s website at http://www.sec.gov and on
BlackRock’s website at http://www.blackrock.com, discuss these factors in
more detail and identify additional factors that can affect forward-looking
statements. The information contained on our website is not a part of this
press release.

For further information please contact:

Media Relations
Bobbie Collins,
212-810-8155
Bobbie.Collins@blackrock.com
or
Media/Investor Relations:
Brian Beades,
212-810-5596
invrel@blackrock.com

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