Correction : Portfolio Update

This announcement replaces the one released on 16 July 2015. The CPI (Consumer
Price Index) figure at inception as been changed from 0.9% to 0.6%. All other
information remains the same.

BLACKROCK INCOME STRATEGIES TRUST PLC
All information is at 30 June 2015 and unaudited.
Performance at month end with net income reinvested
	One	Three	One	Three		Five	Since
	Month	months	year	years		years	Inception*
Share price	-2.4%	0.8%	7.4%	34.5%		59.3%	1.2%
Net asset value	-3.7%	-4.1%	-0.6%	29.6%		51.0%	-4.1%
CPI	0.2%	0.6%	N/A	N/A		N/A	0.6%
Sources: BlackRock
*BlackRock took over the investment management of the Company with effect from 27 February 2015.
At month end
Net asset value incl. Income (debt at fair value):					136.11p
Share price:					134.00p
Discount to Cum Income NAV (debt at fair value):					1.6%
Total assets (including income):					£457.0m
Net Cash:					6.1%
Net yield*:					4.9%
2014 Ongoing charges ratio**:					0.65%
*Yield calculations are based on dividends announced in the last 12 months as at the date of release of this announcement.
**Calculated as a percentage of average net assets and using expenses excluding interest costs for the year ended 30 September 2014.

Asset Allocation	% of portfolio assets
Developed Market Equities	59.9
Emerging Market Equities	2.1
Government Bonds	10.0
Non-government Bonds	9.5
Other Derivatives	-0.5
Cash* (net of derivative cover)	19.0
	-----
	100.0
	=====
Geographical Analysis	% of portfolio assets
Europe	14.3
United Kingdom	54.7
North America	2.6
Australasia	4.3
Emerging Markets	5.6
Other Derivatives	-0.5
Cash*	19.0
	-----
	100.0
	=====
* Cash of 19.0% includes cash held to back gross economic exposures obtained through options and other derivative instruments of approximately 13.7%.
Commenting on the markets, Adam Ryan, representing the Investment Manager noted:
During the month of June, the Company was exposed to the broad-based sell off across multiple asset classes and sectors. Hedging strategies, and security selection from our UK equity holdings reduced some of the negative impacts of the sell-off. Volatility remains elevated with uncertainty over rate hikes in the US, Greece's position in the eurozone, and concern over asset bubbles in China all contributing the negative sentiment. We continue to focus on maintaining income and growth strategies across multiple asset classes.
17 July 2015
ENDS
Latest information is available by typing www.blackrock.co.uk/bist on the internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV terminal). Neither the contents of the Manager’s website nor the contents of any website accessible from hyperlinks on BlackRock’s website (or any other website) is incorporated into, or forms part of, this announcement.