“BlackRock supports the SEC’s efforts to improve the resiliency of U.S. money market funds during times of stress and appreciates the thoughtful, deliberate and consultative process the Agency has undertaken to achieve this result. In light of these changes, we believe that money market funds will continue to prove a valuable cash investment strategy. BlackRock is well positioned to offer our clients the full spectrum of stable NAV, floating NAV, Government, Prime and Municipal cash management products. We look forward to engaging closely with our clients over the coming months to discuss the wide array of cash solutions available to successfully adapt to these new reforms.”

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2014, BlackRock’s AUM was $4.594 trillion. BlackRock helps clients meet their goals and overcome challenges with a range of products that include 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, 2014, the firm had approximately 11,600 employees in more than 30 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 http://www.blackrock.com| Twitter: @blackrock_news | Blog: http://www.blackrockblog.com| LinkedIn: www.linkedin.com/company/blackrock

This communication is provided for informational purposes only and is not intended to be relied upon as a forecast, research or investment advice. The opinions expressed are as of July 23, 2014 and may change as subsequent conditions vary. This material may contain “forward-looking” information that is not purely historical in nature. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader.

BlackRock® is a registered trademark of BlackRock, Inc. All other trademarks are the property of their respective owners. © 2014 BlackRock, Inc. All rights reserved.