In re: BlackRock Mutual Funds Advisory
Fee Litigation, 3:14-cv-01165-FLW-TJB

On May 27, 2014, Owen Clancy, Timothy
Davidson, Cindy Tarchis and Brendan Foote,
investors in the BlackRock Global Allocation
Fund, Inc. and the BlackRock Equity Dividend
Fund (collectively, the "Funds"), filed a
consolidated complaint (the "Consolidated
Complaint") in the United States District Court
for the District of New Jersey against
BlackRock Advisors, LLC, BlackRock
Investment Management, LLC and BlackRock
International Limited (collectively, the
"Defendants") under the caption In re
BlackRock Mutual Funds Advisory Fee
Litigation. The Consolidated Complaint, which
purports to be brought derivatively on behalf
of the Funds, alleges that the Defendants
violated Section 36(b) of the Investment
Company Act by receiving allegedly excessive
investment advisory fees from the Funds. The
Consolidated Complaint seeks, among other
things, to recover on behalf of the Funds all
allegedly excessive advisory fees received by
the Defendants in the period beginning one
year prior to the filing of the lawsuit and
ending on the date of judgment, along with
purported lost investment returns on those
amounts, plus interest. The Defendants
believe the claims in the Consolidated
Complaint are without merit and intend to
vigorously defend the action.