MFL Stock, Blackrock MuniHoldings Investment Quality Fund of Beneficial Interest Information

To provide shareholders with current income exempt from Federal income tax and Florida intangible personal property tax by investing primarily in a portfolio of longterm investment grade municipal obligations the interest on which is exempt from federal income tax and the shares exempt from Florida intangible personal property tax. The Funds current nonfundamental investment policy requires under normal market conditions for the Fund to invest at least 80% of its total assets in Florida municipal bonds. Due to the repeal of the Florida Intangible Personal Property Tax as of January 2007 the Board has approved an amended policy allowing the Fund flexibility to invest in municipal obligations regardless of geographic location.