Craig S. Phillips to Join BlackRock as Head of Financial Markets Advisory Group

Service Draws on BlackRock Solutions® Risk Analytics to Help Clients Manage Capital Markets Exposures

NEW YORK--()--BlackRock, Inc. (NYSE:BLK) today announced that Craig S. Phillips has joined the Company as head of its Financial Markets Advisory group, a part of BlackRock Solutions® (BRS). Mr. Phillips will report to Charles S. Hallac, Vice Chairman and head of BRS. BRS offers a wide range of services to institutional investors and financial institutions to manage their capital markets exposures. These services range from investment tools, risk analytics, and highly sophisticated enterprise investment systems, to restructuring, capital markets advice and transaction execution.

BlackRocks Financial Markets Advisory team works with clients increasingly to manage their capital markets exposure and businesses. In the past year, the team has helped clients navigate through financial turmoil. BlackRock has come to be known as a solutions provider by our clients, prospects and the public. This reputation continues to grow, and in these times of tremendous market volatility and dislocation, financial institutions have continued to turn to BlackRock for assistance in managing, restructuring, and valuing portfolios with distressed capital markets exposures. In the past year alone, we have advised on or managed distressed portfolios totaling more than $150 billion, some of which have been highly publicized mandates.

These assignments have confirmed BlackRocks leadership in managing and valuing portfolios of mortgages and structured financial instruments. As of first quarter, BlackRock's new business pipeline included $62.5 billion of wins funded, or to be funded, in advisory assets under management.

Craig Phillips has been involved in the global asset-based finance markets for more than 30 years and is recognized as a leader in the development of the securitized debt markets, said Mr. Hallac. We are looking forward to drawing on Craigs deep asset and risk management expertise as we work to broaden and enhance our firms Financial Markets Advisory capabilities.

Mr. Phillips added, I am excited to have joined BlackRock. The fiduciary culture, breadth and depth of talent, and risk systems are unmatched in the industry, making this a unique opportunity to help grow the advisory business.

Mr. Phillips was Managing Member of Ptarmigan Capital LLC, an alternative asset management firm. From 1994 to 2006, he served as a Managing Director of Morgan Stanley and was the global head of its Securitized Products Group, which conducted lending, securities underwriting and secondary trading activities across the residential mortgage, commercial mortgage, and consumer and commercial asset-backed sectors. He previously was a Managing Director of Credit Suisse First Boston and co-head of its U.S. Securitization Group.

Financial Markets Advisory group draws on the risk management systems and analytics of BRS Aladdin® product, which have been developed and used by BlackRock for over 15 years. BlackRock Solutions provides services to many of the largest and most sophisticated financial institutions in the world and maintained more than $6 trillion in securities and derivatives on the platform as of March 31, 2008.

At year-end 2007, BRS was managing 115 distinct assignments for nearly 100 clients, providing services for a well diversified universe of institutional investors including banks, insurance companies, broker dealers, asset managers, hedge funds, pensions, endowments, foundations and other financial institutions.

About BlackRock

BlackRock is one of the worlds largest publicly traded investment management firms. At March 31, 2008, BlackRocks AUM was $1.364 trillion. The firm manages assets on behalf of institutions and individuals worldwide through a variety of equity, fixed income, cash management and alternative investment 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 March 31, 2008, the firm has approximately 5,600 employees in 19 countries and a major presence in key global markets, including the U.S., Europe, Asia, Australia and the Middle East. For additional information, please visit the Company'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 BlackRocks 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 factors previously disclosed in BlackRock's SEC reports and those identified elsewhere in this communication, 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 in political, economic or industry conditions, the interest rate environment 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, including its separately managed accounts; (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 and regulatory, supervisory or enforcement actions of government agencies relating to BlackRock, Merrill Lynch or PNC; (11) terrorist activities and international hostilities, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries and BlackRock; (12) the ability to attract and retain highly talented professionals; (13) fluctuations in foreign currency exchange rates, which may adversely affect the value of advisory and administration fees earned by BlackRock; (14) fluctuations in foreign currency exchange rates, which may adversely affect the value of advisory and administration fees earned by BlackRock and the carrying value of certain investments denominated in foreign currencies; (15) the impact of changes to tax legislation and, generally, the tax position of the Company; (16) BlackRocks ability to successfully integrate the MLIM and Quellos businesses with its existing business; (17) the ability of BlackRock to effectively manage the former MLIM and Quellos assets along with its historical assets under management; and (18) BlackRocks success in maintaining the distribution of its products.

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 BlackRocks 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.

Contacts

BlackRock, Inc.
Brian Beades, 212-810-5596
Brian.Beades@blackrock.com
or
Bobbie Collins, 212-810-8155
Bobbie.Collins@blackrock.com

Contacts

BlackRock, Inc.
Brian Beades, 212-810-5596
Brian.Beades@blackrock.com
or
Bobbie Collins, 212-810-8155
Bobbie.Collins@blackrock.com