BlackRock Announces Extension of Contingent Review Provision for BlackRock Build America Bond Trust

  BlackRock Announces Extension of Contingent Review Provision for BlackRock
  Build America Bond Trust

Business Wire

NEW YORK -- November 12, 2012

BlackRock Advisors, LLC today announced that the Board of Trustees of
BlackRock Build America Bond Trust (NYSE:BBN) (the “Trust”) approved an
extension of the Trust’s Contingent Review Provision (as defined below) until
December 31, 2013.

At the time of the Trust’s initial public offering in August 2010, the Trust
disclosed that, if, for any twenty-four month period ending on or prior to
December 31, 2014, there are no new issuances of Build America Bonds (“BABs”)
or other taxable municipal securities with interest payments subsidized by the
U.S. Government through direct pay subsidies, the Board of Trustees would
undertake an evaluation of potential actions with respect to the Trust (the
“Contingent Review Provision”). As further specified in the Trust’s
prospectus, under the Contingent Review Provision, such potential actions may
include, among other things, changes to the Trust’s non-fundamental investment
policies to broaden its primary investment focus to taxable municipal
securities generally or the termination of the Trust.

Subsequent to the BABs program’s expiration at the end of December 2010, no
further BABs or other taxable municipal securities with interest payments
subsidized by the U.S. Government through direct pay subsidies have been
issued, hence triggering the Contingent Review Provision. The Board of
Trustees, in consideration of its evaluation of potential actions with respect
to the Trust, has approved an extension of the Contingent Review Provision
until on or before December 31, 2013, at which time the Board of Trustees will
evaluate potential actions for the Trust.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory
services for institutional and retail clients worldwide. At September 30,
2012, BlackRock’s AUM was $3.673 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, 2012, the firm has approximately 10,400
employees in 29 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 BlackRock’s website at
www.blackrock.com.

Forward-Looking Statements

This press release, and other statements that BlackRock or the Trust may make,
may contain forward-looking statements within the meaning of the Private
Securities Litigation Reform Act, with respect to the Trust or 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 the Trust, the following factors, among others, could cause
actual events to differ materially from forward-looking statements or
historical performance: (1) 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 the
Trust or in the Trust’s net asset value; (2) the relative and absolute
investment performance of a Trust and its investments; (3) the impact of
increased competition; (4) the unfavorable resolution of any legal
proceedings; (5) the extent and timing of any distributions or share
repurchases; (6) the impact, extent and timing of technological changes; (7)
the impact of legislative and regulatory actions and reforms, including the
Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory,
supervisory or enforcement actions of government agencies relating to a Trust
or BlackRock, as applicable; (8) terrorist activities, international
hostilities and natural disasters, which may adversely affect the general
economy, domestic and local financial and capital markets, specific industries
or BlackRock; (9) BlackRock’s ability to attract and retain highly talented
professionals; (10) the impact of BlackRock electing to provide support to its
products from time to time; and (11) the impact of problems at other financial
institutions or the failure or negative performance of products at other
financial institutions.

Annual and Semi-Annual Reports and other regulatory filings of the Trust with
the Securities and Exchange Commission (“SEC”) are accessible on the SEC's
website at www.sec.gov  and on BlackRock’s website at www.blackrock.com, and
may discuss these or other factors that affect the Trust. The information
contained on BlackRock’s website is not a part of this press release.

Contact:

BlackRock Build America Bond Trust
1-800-882-0052
 
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