Cash Management Overview

BlackRock offers a wide variety of cash management mandates. Our leadership position reflects both a conservative investment philosophy and an array of choices available to investors. Products include US and offshore money market funds, non-2a7 funds, and customized separate accounts.

BlackRock is among the top performing money market fund managers in the United States with $290 billion in cash management assets as of 30 September 2009. We manage portfolios for corporate and municipal treasurers, as well as, bank, hospital, and university operating funds. Our success is a direct result of commitment to a conservative investment style that emphasizes quality, liquidity, and superior client service.

BlackRock Liquidity Funds^†

Ratings by S&P, Moody's, and/or Fitch apply to credit quality of a portfolio and are not a recommendation to buy, sell or hold securities of a fund, are subject to change, and do not remove market risks associated with investments in the fund.

Investments in money market funds are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the funds. PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS. You should consider the investment objectives, risks and expenses of the BlackRock Liquidity Funds carefully before investing. The Funds' prospectuses contain this and other information about the Funds and are available by calling our Client Service Center at 800-821-7432 or by clicking on any of the fund names above. Please read the prospectus carefully before investing.

^† TempFund, TempCash, FedFund, Federal Trust Fund, T-Fund, Treasury Trust Fund, MuniFund, MuniCash, California Money Fund and New York Money Fund are investment portfolios of BlackRock Liquidity Funds. The North Carolina Municipal Money Market, Ohio Municipal Money Market, Pennsylvania Municipal Money Market, Virginia Municipal Money Market and New Jersey Municipal Money Market Portfolios are investment portfolios of BlackRock Funds.