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Press release from Business Wire

BlackRock and NACD Issue Global Challenge and Cash Prize for Innovation in Corporate Governance

<p class='bwalignc'> <i>Call for Papers Encourages Academic Thought Leaders to Identify Ways to Implement Corporate Governance and Responsible Investment Principles into Practice</i> </p>

Thursday, April 19, 2012

BlackRock and NACD Issue Global Challenge and Cash Prize for Innovation in Corporate Governance15:10 EDT Thursday, April 19, 2012 SAN FRANCISCO (Business Wire) -- Today, BlackRock (NYSE: BLK) and the National Association of Corporate Directors (NACD) issued an invitation to undergraduate and graduate students, PhD researchers and university faculty to participate in a global challenge to apply the latest in academic theory to develop innovative corporate governance practices. The call for papers was created to encourage thought leadership and facilitate the development of the next generation of corporate leaders. Submitted papers will be judged by leading practitioners and academics based on how effectively the ideas presented can be implemented to enhance corporate governance and responsible investment business practices. In addition to cash awards, winners will be recognized at NACD's 2013 Spring Forum where they will have an opportunity to present their winning ideas to corporate directors and other business leaders. “The call for papers gives students and faculty a rare opportunity to directly reach corporate leaders in developing innovative business practices and shaping the future of corporate governance,” said Myron T. Steele, Chief Justice of the Delaware Supreme Court, who is chairing the evaluation committee. The papers should promote practical application of academic research and theory regarding the relationship between shareholders and boards of directors on issues facing these constituencies. Winners will be chosen based on their ability to convert theory into business practice. Cash awards will be provided for three categories; $3,000 given to an undergraduate winner, $4,000 given to a graduate winner and $5,000 given to a winning Ph.D. or faculty submission. “This is a great opportunity for the next generation of corporate leaders – college students and faculty – to articulate their ideas to strengthen corporate trust and confidence,” said Ken Daly, president and CEO of NACD. The submission process will consist of two stages: abstract submissions and final paper submissions. Abstracts are due by June 1, 2012 to corporategovernance@blackrock.com. Those selected to submit a full paper will be notified by July 1, 2012, and final paper submissions are due by Sept. 30, 2012. Papers must be academically sound, as determined by a panel of academic experts, and the winners will be selected based on the applicability and usefulness of their idea from a practitioner perspective. To learn more about the program, please www.nacdonline.org/callforpapers or submit any questions to corporategovernance@blackrock.com. About BlackRock BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At March 31, 2012, BlackRock's AUM was $3.684 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 March 31, 2012, the firm has approximately 9,900 employees in 27 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. About NACD The National Association of Corporate Directors (NACD) is the only membership organization dedicated to director education, director training, and board research. Based on 35 years of experience, NACD promotes director professionalism by providing the information, insights, and boardroom resources that corporate board members need to confront complex business challenges. In addition to ongoing director education programs to more than 11,500 members, NACD conducts board evaluations and provides strategic advice on improving board performance. To prospective board members, NACD provides a variety of information, including director research and education programs on how to become a director. Through all of their board education and board training programs, NACD's overarching mission is to help build better boards. To learn more about NACD, visit NACDonline.org. To join, please contact Kelly Dodd at kkdodd@NACDonline.org or 202-380-1891. BlackRockChad Spitler, Managing DirectorCorporate Governance & Responsible Investment415-670-7198orNational Association of Corporate DirectorsHenry Stoever, Chief Marketing Officer202-775-0509