BlackRock Advisors, LLC announced today that on August 4, 2010, a shareholder derivative complaint was filed in the Supreme Court of the State of New York, New York County with respect to the four closed-end funds listed below (the ?Funds?), each of which had previously received a demand letter from the same law firm on behalf of the Funds' common shareholders. The complaint is substantially similar to the one filed with respect to 11 other BlackRock closed-end funds on July 27, 2010, and was filed against BlackRock, Inc., BlackRock Advisors, LLC, the Funds and certain of the directors, officers and portfolio managers of the Funds (collectively, the ?BlackRock Parties?) in connection with the Funds' redemption of auction-market preferred shares, auction rate preferred securities, auction preferred shares and auction rate securities (collectively, ?AMPS?). The complaint alleges, among other things, that the BlackRock Parties breached their fiduciary duties to the common shareholders of the Funds (the ?Shareholders?) by redeeming AMPS at their liquidation preference and alleges that such redemptions caused losses to the Shareholders. The plaintiffs are seeking monetary damages for the alleged losses suffered and to enjoin the Funds from future redemptions of AMPS at their liquidation preference.

The Funds named in the lawsuit are as follows:

Fund Name

            

Ticker

BlackRock MuniYield Insured Fund, Inc. MYI
BlackRock MuniYield California Insured Fund, Inc. MCA
BlackRock MuniYield Fund, Inc. MYD
BlackRock MuniHoldings Insured Investment Fund MFL

The BlackRock Parties believe that the claims asserted in the complaint are without merit and intend to vigorously defend themselves in the litigation.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2010, BlackRock's AUM was $3.151 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 June 30, 2010, the firm has approximately 8,500 employees in 24 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 www.blackrock.com.

Forward-Looking Statements

This press release, and other statements that BlackRock may make, may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the 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 a duty to or undertakes 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.

The following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes in political, economic or industry conditions, the interest rate environment or financial and capital markets, which could result in changes in the Fund's net asset value; (2) the performance of the Fund's investments; (3) the impact of increased competition; (4) the extent and timing of any distributions or share repurchases; (5) the impact of legislative and regulatory actions and reforms and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or BlackRock, as applicable; and (6) BlackRock's ability to attract and retain highly talented professionals.

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

BlackRock Advisors, LLC
1-800-882-0052