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Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions

BlackRock Global Opportunities Equity Trust (NYSE:BOE), BlackRock S&P Quality Rankings Global Equity Managed Trust (NYSE AMEX:BQY) and BlackRock Enhanced Government Fund, Inc. (NYSE:EGF) (the “Funds”) today paid the following dividends per share:

Ticker Pay Date Per Share
BOE August 31, 2010 $ 0.568750
BQY August 31, 2010 $ 0.250000
EGF August 31, 2010 $ 0.080000

Each of the Funds has adopted a level distribution plan (the “Plan”) and employs either a managed distribution or an option over-write policy to support a level distribution of income, capital gains and/or return of capital. The fixed amounts distributed per share are subject to change at the discretion of each Fund’s Board. Under its Plan, each Fund will distribute all available investment income to its shareholders, consistent with its primary investment objectives and as required by the Internal Revenue Code of 1986, as amended (the “Code”). If sufficient investment income is not available on a quarterly/monthly basis, the Funds will distribute long-term capital gains and or return capital to their shareholders in order to maintain a level distribution.

The Funds’ estimated sources of the distributions paid this month and for their current fiscal years are as follows:

Estimated Allocations as of August 31, 2010
Fund Distribution

Net Investment

Income

Net Realized

Short-Term Gains

Net Realized

Long-Term Gains

Return of Capital

BOE1 $0.568750 $0.05393 (9%) $0.00 (0%) $0.00 (0%) $0.51482 (91%)
BQY $0.250000 $0.07284 (29%) $0.11748 (47%) $0.05968 (24%) $0.00 (0%)
EGF1 $0.080000 $0.05593 (70%) $0.00 (0%) $0.00 (0%) $0.02407 (30%)
Estimated Allocations for the Fiscal Year Through August 31, 2010
Fund Distribution

Net Investment

Income

Net Realized

Short-Term Gains

Net Realized

Long-Term Gains

Return of Capital
BOE1 $2.275000 $0.16969 (7%) $0.00 (0%) $0.00 (0%) $2.10531 (93%)
BQY $0.812500 $0.28248 (35%) $0.32626 (40%) $0.20376 (25%) $0.00 (0%)
EGF1 $0.585000 $0.39370 (67%) $0.00 (0%) $0.00 (0%) $0.19130 (33%)

1The Funds estimate that they have distributed more than their income and capital gains in the current fiscal year; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect a Fund's investment performance and should not be confused with ‘yield’ or ‘income’.

The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Funds will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Fund Performance and Distribution Rate Information:
Fund

Average annual

total return (in

relation to NAV)

from inception to

July 31, 2010

Annualized current

distribution rate

expressed as a

percentage of NAV as

of July 31, 2010

Cumulative total return

(in relation to NAV) for

the fiscal year through

July 31, 2010

Cumulative fiscal year

distributions as a

percentage of NAV as

of July 31, 2010

BOE 5.32% * 12.77% 4.90% 9.58%
BQY 2.61% * 7.40% 5.97% 4.16%
EGF 4.84% 5.74% 3.88% 3.02%
* Five year total return (in relation to NAV) as of July 31, 2010

Shareholders should not draw any conclusions about a Fund’s investment performance from the amount of the Fund’s current distributions or from the terms of the Fund’s Plan.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2010, BlackRock’s AUM was $3.151 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 June 30, 2010, the firm has approximately 8,500 employees in 24 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 firm’s website at www.blackrock.com.

Forward-Looking Statements

This press release, 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.

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 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 Fund 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 Funds with the Securities and Exchange Commission (“SEC”) are accessible on the SEC's website at www.sec.govand on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Funds. The information contained on our website is not a part of this press release.

Contacts:

BlackRock Closed-End Funds
1-800-882-0052

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