BlackRock Advisors, LLC today announced that BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT) and BlackRock Debt Strategies Fund, Inc. (NYSE:DSU) (the “Funds”) have each filed an initial registration statement to establish an at-the-market equity shelf program (each, a “Program”). The Programs may provide each Fund’s portfolio managers with additional flexibility in pursuing attractive investment opportunities without the need to sell existing portfolio investments. Under each Program, the Fund, subject to market conditions, may raise additional equity capital by issuing new common shares, from time to time in varying amounts, at a net price at or above the Fund’s net asset value per common share plus the per share amount of any commission.

Each Fund has filed a registration statement with the Securities and Exchange Commission relating to its Program, which is not yet effective. The information contained in the Fund’s preliminary prospectus within the registration statement is not complete and may be changed. The Fund may not sell any common shares under the Program until its registration statement is effective. Neither this press release nor the Fund’s preliminary prospectus is an offer to sell newly registered common shares and neither this press release nor the Fund's preliminary prospectus is soliciting an offer to buy newly registered common shares in any jurisdiction where such offer or sale is not permitted.

Investors should consider each Fund’s investment objectives, risks, charges and expenses carefully before investing. Each Fund's preliminary prospectus, which may be obtained by contacting BlackRock at 800-882-0052, contains this and more complete information about the Fund and should be read carefully before investing. A copy of each Fund's final prospectus can be obtained from BlackRock at 800-882-0052, when available.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At March 31, 2014, BlackRock’s assets under management were $4.401 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 March 31, 2014, the firm had approximately 11,500 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 firm’s website at www.blackrock.com.

Forward-Looking Statements

This press release, and other statements that BlackRock or the Funds may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Funds 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 Funds, 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 Funds or in a Fund’s net asset value; (2) the relative and absolute investment performance of a Fund 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 Fund 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 a Fund 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 Funds. The information contained on BlackRock’s website is not a part of this press release.